/biz/ - Business & Finance

lol is this a joke?

do these old fuckers in the senate not understand that you can't trace bitcoins to a certain individual?

>>4732424
OLY SHIT ITS OVER

>>4732424
>flip btc into monero
>"I have no bitcoins Officer"

>>4732424
Thats not what it fucking means. I saw the shilled reddit thread and the shitty geocities website that propagated this stupid shit. All the bill does is say either you or the financial exchange you send money through, if sending or receiving from or to a foreign country other than the US, if in excess of 20,000 USD, must be tracked so the tax man can check when it comes time, this already exists for fiat, now it applies to digital currency, it literally changes nothing.

It doesn't mean you can't buy a bunch of bitcoin on coinbase, exchange it to monero and hide your wallet for 20 years.

>>4732505
Yeah, nah. This is going to go after privacy coins for sure. Keep your btc moron.

>>4732424
you fags who think crypto is gonna be the next big thing obviously haven't heard about bureaucracy

>>4732424
Can't we cash out in another country? I don't understand their reasoning

cryptocurrencies aren't going to the moon, you guys

.......they're going to the end of the universe

the moment they make this shit illegal is the moment it fucking explodes

it's happening either way; it happens faster if they don't accept it

>>4732505
>>4732626
>>4732424
honestly this means nothing for you americans as it cant be enforced.

"do you have btc?"
"no"

*withdraw btc*

"i thought you didnt have btc"
"i didnt when you asked, somebody sent me some"

>>4732473
If you ever try to use the money, you will have to explain where it came from. If they inevstigate you and find out it was BTC and you held it for years without telling them... YOU'VE VIOLATED THE LAWL. FEMA Labor Camps will then be your new home. Theose damn old Illuminati Chads always win.

>>4733772
bitcoin wallets and how they work ensure they can never prove you owned it. just send to a new wallet before withdrawing.

literally a million things you can do to avoid that if you are american.

>>4732816
what's the point, when you can't even cash out without ending up in a FEMA camp? HAHAHAHA Baby Boomers win again.

maybe you shouldn't vote republican you stupid amerilards
god!

>>4733834
kek. always funny when non-americans think the "republicans" are the "bad guys"

>>4733794
>he thinks the CIA wasn't involved in developing Bitcoin.
HAHAHAHAHHA They are waaaaay ahead of you, Johny boy. THEY have created Bitcoin to introduce the one world digital currency to the world. It will be completely centralized. You can't hide your Bitcoin balance from them. THEY CREATED BLOCKCHAIN TECHNOLOGY. They already have the tech to monitor the entire blockchain eccosystems and know every transaction, balance, as well as decrypt every wallet. By the time Bitcoin first came to the world, the old farts already had the tech to have total control over it. You will see in the coming months/years. They will slowly reveal the tech they have hidden. Then, you will know they've always had the upper hand. They will make it seem like those new techs are being developed to counter the tax crimes, but in fact the surveilance technology was developed at the same time as the Bitcoin blockchain technology. YOU'VE SUCCESSFULLY HELPED THE NWO HAVE TOTAL CONTROL OVER HUMANITY, THROUGH THE USE OF BLOCKCHAIN TECHNOLOGY. How does it FEEL? Enjoy that feel, as it will be yours forever.

>>4733730
>I'm not saying I don't trust you sir but duty says I have to check the blockchain to see when bitcoin entered your wallet.
*checks blockchain*
>Get down on the ground you peice of shit

>>4733895

Republicans are supposed to be limited government. They would not want to government knowing your BTC balance.

>>4733919
Feels good desu. Bring on the new world order. A small price to pay for my lambo.

>>4733895
when we see them not draining swamps and cucking your net it tends to make us think that again

>>4733919
tbf the cia may have created bitcoin, who knows?

it doesn't concern us at all. nothing to do with this issue.

>>4733948
you realize there is enough people paid to shill anti-trump messages on here that nobody is going to take you seriously right?

>>4733947
south korea's PM was right crypto is corrupting us. can't wait to step on mixed race orphan hands as they bow and beg before me MUWAHAHAHAHHAHAHA

>>4733945
have a wallet where you have your stack, have another one which you show to the government.

>>4733946
that was part of my point yes.

the real america: republicans are not even close to being the bad guys and fox news is the most watched news network now for a reason.

the america international people see on tv: republicans are the bad guys trying to take away freedom and doing war and fox news is a joke nobody watches.

>>4733919
Let the world burn

>>4733992
>le quirky 'but you're X' kekistani 'rebuttal'
I honestly hope that you're just being ironic right now

>>4733919
>>4734011
back to
>>>/x/
Inbreds

>>4734142
bait? 2/10.

Hey btw, trump got his tax reform passed. flynn story was found to be fake too. the left just cant win.

also this is a place filled with cryptocurrency traders and miners, they're not going to be anti-trump or be fooled by your "net neutrality" panic which is just the removal of a two year old amendment to the law, which returns the internet back to how it was 3 years ago. give up.

>>4732473
If you searched for and read the article rather than just the abstract like everyone in this lazy age you'd know they trace it back to the account used to purchase the bitcoin.
That's totally possible with an open, append-only ledger. They simply track where the funds of a certain address came from and do that enough times until they get to coinbase or whatever.
Coinbase knows who you are when you link a bank account.

People claiming the govt created Bitcoin are delusional

> Don't forget that the gov't made it illegal to export >40 bit encrypted software. PGP was a battle hard fought. The gov't didn't want cryptography in public's hands

>>4734252
you can literally transfer between as many addresses as you want, if they traced it all to an original purchaser you'd be in trouble every time somebody ever cashed out a bitcoin you bought once, doesnt work.

basically, this can't be enforced.

>>4734319
You buy btc and it goes to wallet A.
A sent a transaction to B.
B sent a transaction to C.
etc etc
Read it in reverse order, that's how they can trace it back.
>but anon what about exchange wallets that go to multiple addresses
How do you think the exchanges are keeping of track of where to send the funds? They have a db too. Gov can easily say it's a breach of regulations if they don't hand it over, at which point they take it anyway.

>>4734357
your example only works if the original "buyer" (who they trace the coin back to, and get your details from the exchange), is the same person who finally cashes the coin out. get somebody else to cash out for you, problem solved.

im in the 10% and pay zero capital gains, should i still report all my cuckbase buy and sells to the tax man? I wana just fly under

>>4734409
>fly under
Don't even try. They know everything. Sooner or later, you will be caught for violating the tax lawls. Just be a good boy and tell them about EVERY transaction/trade you make. The taxman doesn't like to play games of hide and seek. He likes to be in control...

>>4734059
> Watches fox
> Thinks he has criterium

Ivan trolled you all way to hard he caused mass retardation, sad and fun to watch at the same time.

> People that can only think in black and white.

>>4734538
uhuh. remind me who is president.

>>4735068
putin

>>4735086
the 1 post by this id posts that switch ip every time to say the same thing no real person would say.

nice

>>4732816
>cryptocurrencies aren't going to the moon, you guys

They're going to the funeral pyre. This is what coiners get for betraying their Jewish masters.

>>4734357
Atmoic swaps are a thing desu, so is decentralized exchanges. I buy bitcoin exchange it for monero exchange local moneros, bam ez pz.

>>4735086
Kys

fuck you americans, why do you have to ruin everything? how the fuck can a nation be so cucked?, I thought germany was shit with all the refugee thing, but it looks like you're at the same or worst level.

>>4732424
>money laundering and terrorist financing

But our government already does both of these things? And bitcoin is an international currency. US law shouldn't matter for non-americans.

KYC laws are unconstitutional anyway. can't we just put all these cucks in death camps and be done with it? why do americans hate freedom so much? literally the most hypocritical country in history.

>>4735109
wat?

>>4735126
>Atmoic swaps are a thing desu, so is decentralized exchanges
Are there decentralized exchanges for bitcoin? I can't imagine how that works.