BITCUCKS BTFO

motherboard.vice.com/en_us/article/ywnmkk/coinbase-irs-14000-bitcoin-tax

I would archive it if vice wasn't such a fucking faggot.

Other urls found in this thread:

unvis.it/motherboard.vice.com/en_us/article/ywnmkk/coinbase-irs-14000-bitcoin-tax
theguardian.com/world/2013/oct/04/tor-attacks-nsa-users-online-anonymity
arstechnica.com/tech-policy/2016/06/fbis-use-of-tor-exploit-is-like-peering-through-broken-blinds/
wired.com/2017/03/feds-rather-drop-child-porn-case-give-exploit/
youtube.com/watch?v=5IeeCaHz01g
twitter.com/NSFWRedditGif

Archive
unvis.it/motherboard.vice.com/en_us/article/ywnmkk/coinbase-irs-14000-bitcoin-tax

If they're making money and not paying capital gains tax thats against the law.

NEVER

Thanks!!!

I thought the whole point was anonymity, how do they have names of people?

Practically the only reason to use bitcoin is because it doesn’t suffer from inflation per say. Taxing it ruins it

Every transaction is cataloged by everyone everywhere, it’s a fabrication that criminals would want to use this tool

Coinbase requires you to send them a scan of your ID before they let you do transactions on their site.

also coinbase is a service that you sign up for like Facebook.

...

wow I thought Sup Forums would care about this

he's right though

bitcoins are a valuable asset

it'd be more jew if they weren't taxed

>giving money to italy

I have a fresh copy of windows on a fresh hard drive and I receive bitcoins using public wifi
there is zero paper trail

coinbase is a cloud bitcoin wallet
people dumb enough to use it are the kinds of people who get their naked photos stolen and wonder how fate was so cruel to them

>>There's no inflation with bitcoin
>There are entire factory floors in China filled with miners to create more bitcoins

You dumb muslim, the bitcoin network generates a decreasing amount of coins at a preset speed no matter how many people mine it.

Always pay the tax man

Why? Was btc some tax haven? I'm sure the IRS will collect on this years bull run and in 2018 the sec will start fucking everything. Who know they may just classify it as a security.

wow shut the fuck up

Well, decentralized peer to peer exchanges will have to come into being.
And when the gubment gets desperate and starts looking into all bank transactions under 2k or some silly thing like this you can bet something will be created to dodge it.
There is even a way to shuffle the buttcoins if someone decides to look into the blockchain to try and know who got what from who.

That's not the point. It concerned the conversion of bitcoins to dollars. Do you physically meet up with people and have them hand you wads of cash in exchange for your bitcoins? No? Then you're on a transaction sheet somewhere. Since bitcoin is a currency backed by nobody of authority, much like gold in an MMO or stamps, you need to exchange it to a real currency to be able to use it for anything meaningful other than as tokens (I am aware that fiat aren't "real", but they are in the way that the government backs their value and everybody agrees to use them because of that).

>Increase the base on a continous basis
>No inflation
That's some FED-tier reasoning. It's probably above a favelanigger like yourself so I'll break it down: If you have one, and I create one more, we collectively now have two, which is more than one. Didn't you learn these basics from watching the John's next to your mother's bed? I guess she was on the pill or something, but come on, man.

>Decentralized peer to peer exchanges
Those are called drug deals. I thought you'd know this stuff, where you're from. I guess your sister being a prostitute and a whore doesn't necessarily mean that you learned of the drug side of the business through her, nor is growing up with other niggers in a tin shack, but it's a resonable assumption.

>giving money to vice

>I know nothing about crypto

You're wrong, it's main use is to transfer money internationally without government interference, in venezuela they use it to avoid inflation, in greece they used it to avoid the bank freezes.

They're still in for a hell of a legal battle. You don't pay taxes on money you make from a garage sale. And at this point, Btc is still not a currency, so selling Btc is the same as sell an old chair out of my garage. There's no precedence to collect tax on Btc yet

lol what??? no it doesn't haha. i buy all the time and I didn- oooh, I get it: you're TROLLIN lol.

Death and taxes fucbois.
> Muh revolution
Also, if you think you're truly anonymous or untraceable on a public distributed ledger after the govt. craft-fully compromised TOR, you're a fucking idiot .. RIP

lol enjoy your taxes. I'm guessing you're a poorfag so you probably wont pay anything.

What are they gonna do if Z cash or similar takes its place?

I fucking wish. I have to write those cock suckers a check every year on top of what I already paid

Absolutely gay. Burn them all if they are that fucking retarded.

Hmmm...

I got my coinage through coinbase. But don't store my shit there.

>dumb niggerlover shilling for jew money
kill yourself

>what are Btc ATMs

I've bought without id but never sold or traded just purchased items with btc!

How the fuck would they tax that? Or Btc you mined for that matter?

They own the wires.. Whatever the fuck they want... Less the morons chanting distributed unbreakable forgot, they don't own the pipes their data transmits over. What, you thought Net neutrality ending had nothing to do w/ regulating commerce of all forms over the internet. 2018 is the year govt. begins putting their foots up people and corporation's asses to pay off the insurmountable debt.. That or war. The engines are just getting started. They'll go after end points, edge nodes, exchanges, cash out points, and then converge on the core. They can rename and spin any new coin or protocol they want... Won't save them just like it didn't save TOR

>You don't pay taxes on money you make from a garage sale.
You're supposed to here in the Jew S of A if you you make a certain amount.

Don't see the republifuck tax plan trying to change that though.

>They own the wires..
I'm not sure thats enough. Been a while since I read the white paper, but Zcash is supposed to use "0 knowledge confirmation" or something so your address is never made public. Could they crash it if they threw country sized resources at it? Yea probably, but that wouldn't be worth it when those resources are needed for actual shit.

What's the amount? Because I'm pretty sure you don't pay income tax even if you sell a car to someone else, unless selling cars is your business.

>you don't pay income tax
No that get's paid to the state.

We need to abolish the IRS.

Productivity would increase by leaps and bounds with a flat tax.

Do your homework and research how the government compromised TOR.. They simply go and pay the top experts to find multiple vectors of attack and vulnerability and exploit it.
> Hint : Those experts are not the ones who wrote the code for and/or are managing Coin systems. Coin systems were started some time ago by a bunch of slack-jaw quasi professionals and has tons fo exploitable vectors. If and when they're ready, they'll bring it down, compromise it, and/or exploit it for their own purposes. The first rule about security is there is no security. The first rule about privacy is that you have none if you are secure. Enjoy the show.. It's just getting started.

What? You pay the state sales tax on cars, but I don't think you're required to report money from selling a car as income

Fucking jews have to get their part.

So they can turn around and give the white man's money to blacks so they can buy crack and guns so they can kill off more whites.

Save the west, purge the jews, and kill the liberals.

Money is based on the faith people have in it and who backs it.
>US dollar backed by the world's most powerful military
>Bitcoin is backed by the underworld and pyramid schemers

>there's tons of holes in this code that's publicly available, it just hasn't been exploited yet.
With all the money involved, you don't think they would have done it already? The few times there have been holes found, they just forked and kept going

coinbase is just 1 service site. many people trade the old fashioned way: meeting up at a fast food joint that has wifi and simply forking over cash for btc

Wrong retard btc is not anonymous. It is an open ledger of all transactions accessible to all. to see. Though one could move it to. An exchange were you trade representative of crypto and cash out in a different account.

>I would archive it if vice wasn't such a fucking faggot
You can take a screenshot you know, faggot

...

Btc isnt anonymous at all and if many ppl found out it would crash hard

>he thinks "backs it" means something
EL OH EL

Zero papertrail until you buy something that ships to your house. Then they can associate the account with the address.

Theres no escaping it.

Since you're lazy :
> theguardian.com/world/2013/oct/04/tor-attacks-nsa-users-online-anonymity
> arstechnica.com/tech-policy/2016/06/fbis-use-of-tor-exploit-is-like-peering-through-broken-blinds/

The wires always matter.
It's called the physical layer which all thinks must transact
Just because they don't advertise this doesn't mean it isn't significantly used.

They literally compromised Google's data center by tapping into a physical line before they encrypted data... LOL, you dumb fucks actually think they wont nor haven't compromised some weekend warrior open source project? Also, most valuable exploits are never made public :
> wired.com/2017/03/feds-rather-drop-child-porn-case-give-exploit/

Am I done here or do you need me to further highlight how out of their depth coiners are?

of course it means something, you retard
a commodity-based currency is backed by the utility of the commodity it is exchanged for
"backing" is whatever assures its value to the people using it.
what a retard.

It's anonymous in that someone can send Btc to a wallet you have control of but no one can prove you own

US dollar is backed by being the currency used to sell and buy petroleum.
Also, bitcoins are valuable because of their blockchain technology (which is going to be used in every aspect of US intelligence by 2027). It's backed by the notion of it being an unfallible, unhackable and solid currency.

they link up to a bank account or credit card though you fucking retard.

I'm part of the 14k that are going to be turned over.
I reported everything like a good goy though.

I;m thinking about that archive

> stupid fiat currency
> please buy my bitcoin with fiat currency please

Coinbase, like others basically shut down when people were trying yo cash out today. Oh shadecoin is fun.

Technologically illiterate fags ((coiners)) never understand this until they get a knock at the door or a reading of their publicly available transactions from the coin ledger in court.
> mfw these dummies will never understand that they let these kinds of systems run w/ a grand number of (((illusions and delusions))) so as to ensnare idiots.
> mfw this is so effective because idiots will never believe this truth which is why they end up involved in these schemes in the first place

The blockchain

>BUT THERE'S NO CENTRAL BANK

all the problems are on the fiat currency side of trades.
bitcoin transactions are quick and anonymous, its impossible to make a fiat trade for anything anonymously and there has to be a retarded paper trail.

i wonder why they want to put so many barriers on btc purchases? is it for the peoples own good or does somebody else benefit

>Since you're lazy
I wasn't talking about tor or strictly Btc.

>tor again
Yes I know. But if they aren't willing to declassify their methods to nail pedos, you think they're going to let the irs use it to take people to court for a little tax evasion? Either they make it public and the coin forks immediately or they drop they whole thing.

Reminder that since the BTC isn't legally considered a real currency, they can't actually tax you until you "cash out" to fiat.

...and since increasingly there are more and more shops where you can do all your transactions in BTC, you don't actually technically need to ever cash out at all.

False. You use bitcoin tumbling to make the transaction too difficult to trace though the block chain. Also you ship it to a third party location or go balls deep and fake id for a fake po box.

>he doesn't understand what gives anything value

If anyone here is interested in getting into crypto, I will do my best to answer any questions to help get you started.

> no accountability
> no insurance
> same fiat scheme whose spot price is controlled by insiders/algos/hft/options/derivatives ..
> Also, no clear accounting or identification of who holds the majority share

Wallstreet's wet dream.. all the fucking of regular markets/fiat but no accountability/insurance for when things go tits up.

Hahahaha

>Since bitcoin is a currency backed by nobody of authority, much like gold in an MMO or stamps, you need to exchange it to a real currency to be able to use it for anything meaningful other than as tokens

That's completely untrue. There are bitcoin ATMs and more importantly tons of online stores allow bitcoin transactions. Newegg, Amazon, etc etc etc. You'd be surprised just how much you can buy without needing to convert to fiat

Big if true

They could but now that Bitcoin is over $10000 US per unit it'd be smarter of them to wait longer for the price to get even higher and THEN exploit when the value is even more.

I can't tell if you think you're name is literally in the block chain or what

My .014389BTC has turned my last drug buy's change into my next drug buy!

FUCK the IRS and DEA.

Value is subjective, mongoloid.
What backs a currency is whatever the user perceives to give it value.
Just because the phenomenon of backing is subjective does not mean it doesn't exist.
jesus christ you're a dumbass

>you dumb fucks actually think they wont nor haven't compromised some weekend warrior open source project?


THis is what a retard looks like.
Lol but teh haz exploitz for all teh thingz.

No they really don't. You can't beat math. AES is cryptographicaly secure and the blockchain system of non repudiation is air tight. Only implementation fails or physically popped boxes can cause either of those two systems to fail. Trust me the average amerifat is not worth using a top tier implementation exploit against. The more times you use it the more likely it becomes that someone will see it, report it, and a patch will occur.

Laughing at the retards in here who don't realize that Coinbase is basically Paypal for cryptocurrencies.

Sure but there's no guarantee. If someone had a good exploit they could be overnight millionaires at least.

> Believing you're going to be dragged into court by the IRS when it would be easier to just steal your coins w/ no trace for whatever off budget project is desired
> Believing they'd want to shut it down vs. manipulate it w/ a stake

You're out of your depth like coiners and you clearly don't understand a single thing i'm pointing out to you. So, believe what you want. It changes nothing.

>Yes I know.
You know nothing

>Value is subjective
Then backing isn't relevant

When will Bitcoin correct so I can jump in?

Now we know why the price per btc was inflated... only 2 btc to trigger the papertrail.

>any transaction over 20
>14thousand people
that number seems ridiculously low, also
>how do they know how many people when they haven't even gotten the info yet?

It wouldbe a shame if someone used that angle to crash this plane with no survivors

>to be this low-IQ nigger tier
No it is not, you absolute idiot
If I back my currency with fly shit, but no one subjectively values fly shit, the backing is worthless. I have to back it with something that enough people collectively agree is valuable.
Without that, the currency is worthless.
So, no, retard, backing is not pointless. It's subjective. Subjectivity is what runs human society. Subjectivity is a real thing.

Because they can watch coinbases bank account and see deposits and transfers etc.
they probably already have the info , they just want it to be official
every dollar that moves across banks can be traced im sure.

>> Believing you're going to be dragged into court by the IRS when it would be easier to just steal your coins w/ no trace for whatever off budget project is desired
>> Believing they'd want to shut it down vs. manipulate it w/ a stake
Lol dude I don't think you understand how it works. To manipulate crypto like that, they would have to change the block chain, which is absurd. That's the whole point if decentralized. Stop learning about technical things from NCIS

> You can't beat math.
You silly fucking child
youtube.com/watch?v=5IeeCaHz01g

Dummie if it was anonymous you wouldnt need a tumbler.

Also the moment you start to convert to cash theres a trail right there since all those banks will report if you deposit a large enough amount; and if you arent depositing large amounts then lol whats the point of getting into crypto just to buy yourself lunch once a week

Its like a dream come true for them

>I have to back it with something that enough people collectively agree is valuable.
These things aren't related. Stop being autistic.

Correct, but with the current Bitcoin madness why pull off the e-heist now and be millionaires when you could give it a little bit and become hundred-millionaires?

I think slowly the truth is coming out.

The current valuation is dependent upon people assuming:

1) its anonymous
2) irs isnt going to go after big earners even

And #2 is increasingly going be in everyones face. The govt wants their money.

...

Coiners btfo.

Pay for my healthcare with that money you got