Quote from: myrkul on April 28, 2013, 04:46:59 PM

Quote from: roalwe on April 28, 2013, 04:41:32 PM

Can someone explain, in small, grampa-compatible words, why is bitcoin un-taxeable?

Give me your bitcoins.

See, if it were dollars, I could just reach into your bank account or your mattress, or wherever you keep them, and take them. Can't do that with bitcoins.

Yes, taxes can be levied on BTC, you can even pay them. But it's voluntary.

That changes the whole game.

I am confident in my hiding abilities - despite advanced age, I am still capable of concealing smallish items beyond most people's (and I would be willing to claim, police's) ability to find them.

However, I am also confident in government's ability to facilitate cooperation on fund recovery, so I don't see why government couldn't be very convincing about handing over the private keys to undeclared btc.

Full disclosure: I intend to pay taxes on my profits from wallet.is