Quote from: scarsbergholden on June 28, 2015, 06:25:24 PM

Quote from: acid_rain on June 28, 2015, 06:18:31 PM

There are pitfalls to being your own bank.

Ultimately you have to cash it out, as it stand right now. And if you do a large cashout to your bank account, the government'x tax agency will be on you like a hawk for not having declared the money.

Think Al Capone.

Well is not like we are looking to break the law and take to the bank over 10k usd with out proof of generating income, we all have to pay taxes specially if your self employee or Independent, every most operate with the law at all times.

yup, both you and gentlemand are correct, but you're probably two of the few people who understand this. Many people will fall to this trap when they cashout a large chunk of btc to their bank accounts.

We are only hearing of recent cases and occurrences, like the guy who bought a house with his btc, and the other guy cashed the btc out in one fell swoop. Or the sheep darknet market guy, who was doxxed and thought he was in the clear.

Etc. etc.