Quote from: Anonohmon on July 05, 2022, 09:40:51 PM

Quote from: Poker Player on July 05, 2022, 07:29:05 AM

Quote from: Anonohmon on April 20, 2022, 05:06:57 AM

Any idea how many people are buying/selling bitcoin and have not paid taxes?

I'm sure there is a trend here. The first few years nobody would pay taxes, unless it was huge amounts that they wanted to legalize. As time has gone on and there are more and more centralized exchanges, more KYC etc, more and more people pay taxes.

If you have low undeclared amounts it is easy not to get caught. For example, let's say a friend sold you $200 in Bitcoin some time ago, which today is $800. It is easy to spend those bitcoins and the IRS will not find out. But if you have 10 undeclared Bitcoins you have a problem, especially if you want to spend them.

Thanks, yeah how about like 1 entire bitcoin? Lets say someone bought bitcoin every couple weeks over time and has 1 bitcoin. Bought via exchange, and ATMs that don't require ID and just converted to XMR, sent to another address and converted out to bitcoin. So there aren't many records.

And lets say the individual is not going to spend or sell the bitcoin until it reaches 1 million dollars... which could be in the far far future, 20 30 maybe 40 or 50 years from now. Something that makes it possible that records held by the ATM and exchanges could be gone if those exchanges go out of business.

And, if someone had 10 anonymous bitcoins.... I'm thinking they should wait till it goes up past 70k again and move to a more tax forgiving country, or a country that will not be afraid to tell the US to go F-off... And honestly there are few nations that will do that, maybe Russia? Although being prepared to follow all the laws of this new country you have moved to because you've burned your bridges.

If bitcoin is popular in 20-30 years, then there will always be shadow markets in the world.
In Russia, there are no problems with exchanging cryptocurrencies for fiat and vice versa, and in other countries there are groups in telegram channels where you can exchange cryptocurrencies for fiat. There are many exchange offices in Turkey.