Post
Topic
Board Bitcoin Discussion
Re: NSA KNOWS
by
icematikx
on 03/09/2015, 19:45:25 UTC
It's HMRC (UK equivalent of the IRS) that people need to be worried about. The fact is, thousands of people are already dodging paying taxes by dealing in BTC. Whether they're buying/selling BTC for profit, or simply buying hashing power as an investment for profit, the fact is that thousands of UK nationals are now tax evaders.

Did you know that buying hashing power, and getting PROFIT from it, is taxable?

The government wants their slice of the cake. I'd expect tighter and stricter regulation soon. I wouldn't be surprised if the UK/USA haven't already developed software to start tracking the blockchain and uniquely identifying individuals/businesses.

Think about.. The government buys a laptop from Dell, and associates that BTC address to Dell. Any transactions from that address probably belong to Dell. It won't take long before the government has a pretty accurate record of what addresses Dell owns. If they suspect even the slightest bit of tax fraud, they can take legal recourse to initiate a tax investigation/audit.