I have about 15 BTC in my Coinbase.com account, which is linked to my bank account. On this amount, I will pay taxes - it would be foolish to try to hide that money from the IRS.
On the other hand, the day the IRS can tell me how much wealth I have in my (vastly larger quantity) brain wallet is the day I pay taxes on my true wealth.
Spoiler: This day will never come.
This comes down to the (un)enforceability of the tax laws on a pseudonymous currency.
Cryptocurrency and torrent technology have a great deal in common... think about it.
No more money for unjustified, pre-emptive wars of aggressive for corporate profit margins. Cut the bastards off.
On the other hand, the day the IRS can tell me how much wealth I have in my (vastly larger quantity) brain wallet is the day I pay taxes on my true wealth.
Spoiler: This day will never come.
This comes down to the (un)enforceability of the tax laws on a pseudonymous currency.
Cryptocurrency and torrent technology have a great deal in common... think about it.
No more money for unjustified, pre-emptive wars of aggressive for corporate profit margins. Cut the bastards off.