yea dorsey had an interesting take, internet emerging as a sovereign state, bitcoin it's currency

do bitcoin count as owning assets outside of the US?

@CryptoJack - Yes... well said.

@Rody Le Cid - Yes they do

if you've bought BTC on coinbase and youre in the US its likely they already know about you and your addresses

but yea you're obligated to inform them of your crypto positions, air drops, forks, etc

@Nerthulas did you buy?

although the tax rules still need work, and you may need to consult a professional accountant

I plan on giving ALL my bitcoin away

https://www.youtube.com/watch?v=UUezq1GyAko

giving away to whom?

Give it to the Vatican

give it to me

doesn't matter as long as I'm not holding it at the end of fiscal year...

I didn't but I want to set it up so that I can

so I don't have to declare it..

based and ancappilled

because it will be all gone

so what to use other than coinbase then?

if the US govt knows about that

yea not sure if it will work that way

they added a question "have you traded crypto this year"

you will have to lie or declare

sure, I traded,
but lost it all on the markets..

Buy high and sell Low!
That's MY motto

localbitcoin, maybe a bitcoin ATM? but if you're in the US eventually all these on ramps will be made to report

Write "idk"

the best motto

might be able to play dumb if you got your BTC somewhere other than coinbase

p2p transaction?

but you may have to pay the tax and move on

ahahahahaha

not happening

<:AIDS:397209911567581185>

well keep it in cold storage until its dystopian hellscape 2032, and BTC gets you the good toilet paper at the local bazaar

I will make a molten salt reactor in my backyard

in true ancap fashion

small buys via localbitcoin or using your local bitcoin ATM might still work

and theres probably still exchanges where US customer can wire or transfer USD to buy coin and withdrawal without directly disclosing your identity to the IRS

but that doesn't mean sooner or later any of these entities you've had to disclose your ID to won't be forced to retroactively reveal customers names

but if you bought off coinbase you're probably on the tax radar

they also have contracts with chain analytics companies so no doubt easily able to dive deep into your btc trail