Quote from: NotFuzzyWarm on May 20, 2025, 08:39:32 PM

Quote from: zasad@ on May 20, 2025, 05:54:27 PM

I am against such financial schemes. Maybe 1-2 times it can be done, it all depends on your country and tax, but it is better to leave as few digital traces as possible and exchange cryptocurrency for cash.
It's better to consult with more knowledgeable crypto users, rather than reinvent the wheel.
I write a lot about European and American legislation, but I also chat with people from these countries, and they have no problem exchanging cryptocurrencies for cash, despite all the bans and restrictions.

Yep. I'm in the US and am perfectly fine with reporting my crypto and the KYC involved. I have zero issues with it being linked to me (CEX & bank account) for buying & selling it.

Sure taxes are a bitch but - do remember that if you buy jewelry, gold, etc using crypto you are NOT going to be able to (immediately) sell or pawn it for anything near what fiat value you paid for it so it's better to 'spend' the difference as taxes. I just do not get how some folks have such an overwhelming urge to sit on a hoard of cash even if it is just enough for month-to-month expenses - not only is a huge security risk (easy to steal) but is also a pain to spend on large purchases eg buying a car because most companies just are not setup to handle large cash transactions. Even paying monthly bills is far far easier through banks vs using other 3rd parties.

DISCLAIMER: I should add that I'm also registered with TSA and CBP's Global Entry programs along with having been vetted by various 3-letter agencies because of my old job (retired now), hell, I even have a medical cannabis card. In short the gov knows pretty much everything about me and I'm good with that.

I am not against taxes when the legislation and taxes are adequate.
If your country has real inflation of 30% per year, are you ready to pay additional taxes?

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I am against ill-considered financial schemes when you can simply exchange cryptocurrency for fiat