IRS To Take Info On Users After Partial Victory Over Coinbase / Fed Nominee's Crypto Comment / More!

Keep up the great work brother. Your videos continue to evolve in so many ways. Thank you for helping to spread the work of decentralisation. I think we are about to get through to the 100th monkey!

$10.29

2 votes

[-]

justbone (47) 6 years ago

$10.10

1 vote

[-]

nabes (51) 6 years ago

good video! i dont have $20 G's anyways so i think im ok. but do you know if its any different up here in Canada? also what is a better or a different site to buy BTC? I know theres localbitcoin but i tend to find those prices to be higher. is there another site?

$0.63

1 vote

[-]

machhour (61) 6 years ago

Amazing video thanks for sharing

$0.43

7 votes

[-]

pawsdog (55) 6 years ago (edited)

Here is the thing we are overlooking. The darker side of the cloud being that a precedent has been set. There are bunch out there mistakenly relieved that they bought their BTC in 2016, 2017 etc. This is actually a big win for the IRS as they just got their foot in the door. That said everyone in the last two years that meets the criteria should likewise expect their information to be handed over at some point.

This time; however, Coinbase won't put up nearly as hard a fight, if at all as there is now a legal precedent and they no it is a losing battle. Also I think we have failed to estimate the ramifications if the initial Suspicions by the IRS are confirmed. We know they will be based upon the initial BTC user base, the ease of avoiding taxes during that time etc. Ergo the IRS will have a hell of a lot more foundation to their next request based on provable evasive tax information obtained in this initial lot of customers Coinbase will be handing over.

That in turn will allow them more power to start prying into all things Crypto.

$0.00

3 votes

[-]

ray123 (42) 6 years ago

@machhour / @crypt0: I can only associate myself with. Well done. And congratulations on the award.

$0.00

1 vote

[-]

myeasin (57) 6 years ago

I agreed with you it's really amazing @machhour ✍👍

$0.00

[-]

steemmatt (69) 6 years ago (edited)

What I don't understand is why someone with a family has $100K+ in ETH has it on one of the riskiest exchanges out there, and is trading in the riskiest fashion possible during a pump... I have my ETH offline and it'll sty offline. When you've got a winning hand, you don't need to overplay it. The upside is not worth the downside of getting crushed and having that haunt you.

$0.07

1 vote

[-]