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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 1
I mean how will the IRS know how much you earned if you keep the steem in a cryptocurrency and never turn it into cash. More and more places are allowing for purchases in bitcoin, but then again tax evasion will ruin your life if you do get caught
Yes, the cost is high if you are caught. Plus, Steemit saves everything into a public block-chain. We are all susceptible to dox'ing, and the IRS can probably dox any of us relatively easily by subpoena IP records.
the idea of hiding or anonymity is no longer valid. Blockchain may help some believe they are not being tracked, but I dont believe it. Blockchain gives gov new tools to be sneaky. Now we are in the list making stage. The people rated highest will be taken down 1st. They will complete the list exponentially faster over time. No one will be able to hide. They have always been able to take anyone they wanted down. Each person has to decide what they are willing to consent to and what price they willing to pay for dissenting to any policy of the state. Taxes are a joke. If they want their debt notes - just let them take them. They were never yours anyway. Focus on bigger picture items like your character. Dont give them an excuse to take yu down over worthless money.
Lots of wisdom here, for those who would see it.