So how do we cash out now? If need be obviously.
This is totally un-documentable BS, since nobody knows what you are doing on Kijiji or whatever with your friends and Bitcoins.
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Can an exchange know you weren't cashing in or buying them for somebody else?
use your wallets and transfers at all those exchanges you can, often, problem solved...Yes that whole taxing bitcoin thing is BS, and it is going to be difficult for them to catch it but I mean if for example I have a steady income of 500$ per week and in 2-3 years when bitcoins are worth more, I cash out some of it to partially pay a car let's say. Wouldn't the CRA be like hummm that's weird he just got 20k deposited and it's signed CaVirtex... Wouldn't they come after me?
What if CRA got smart and started to troll the block chain and applied a little network analysis to it? Forensic accountants are accustomed to ferreting out tax cheats and are used to their schemes of sending money from one place to the next.