Biden administration unveils new crypto tax reporting rules

Discussion in 'Crypto Assets' started by johnarb, Aug 25, 2023.

  1. traderjo

    traderjo

    When one send money from FIAT to any such platforms it gets noted.. even banks in my country are sending notices that there will be restrictions ... exact words are :..we may limit the amount you can pay to certain accounts or merchants. for example those we believe to be associated with cryptocurrency exchanges... these banks are private / listed , make billions in profit yet they must have listens to respective govt and tightening the screws...
     
    #11     Aug 28, 2023
  2. traderjo

    traderjo

    innovation and freedom. does not mean rule less financial markets.. the FTX type guys and blind followers want no boundaries and restriction... not because they are super democratic but they just want an easy way out and no scrutiny so they can screw others easily
     
    #12     Aug 28, 2023
  3. traderjo

    traderjo

    SO what is the diff between DeFi crypto projects and every single crypto company ..
     
    #13     Aug 28, 2023
  4. johnarb

    johnarb

    They know exactly what is going on

    It looks like the whole fiat world is going on a global reset (fourth turning?). Distractions everywhere, left vs right, UFO's, BRICS, Covid comeback, election controversies, pedophilia, lgbtq+++, reminds me of the days when we had gladiator games back in the coliseums and drank wine and ate dried octopus while watching live death matches... the good ole days before cell phones

    Opt out, Bitcoin is our life raft out of the fiat matrix debt-based slave monetary system
     
    #14     Aug 28, 2023
    jbusse and NoahA like this.
  5. johnarb

    johnarb

    SO WHY THE FUCK ARE YOU SO LAZY TO EDUCATE YOUR SELF??? GOOGLE DEFI, PUT ON YOUTUBE

    ----

    But to answer your question, defi crypto projects exist on the blockchain, aka the internet, there is no location

    You can be 8 yo or 88 yo, you can be in Dubai, or you can be in South Korea, if you have crypto assets, you can transact with DeFi, no names, addresses, or phone numbers

    Here are the 2 biggest DeFi crypto projects

    https://aave.com/

    https://blog.uniswap.org/uni
     
    #15     Aug 28, 2023
  6. YouHodler

    YouHodler Sponsor

    Your perspective on the current situation and its potential implications is certainly intriguing. The dynamic nature of the market and the evolving circumstances are factors that constantly shape the landscape. In such an environment, it's prudent to consider options that provide stability and adherence to regulations.

    You've raised a valid point about the importance of regulated entities. Given the complexities and uncertainties, opting for reputable and regulated companies could offer a way to navigate the changing landscape. These companies often adhere to compliance standards and provide a level of assurance that can be valuable in times of transformation.


    You've also highlighted the potential risks of moving towards a dystopian model. The delicate balance between maintaining control and upholding the principles that have driven progress is crucial. As the global landscape shifts, various locales could become more appealing for individuals and businesses seeking to preserve their freedom and flourish in a supportive environment.

    Elio's point about developers' choices regarding relocation is thought-provoking. While some may find reasons to stay despite changes, others might be drawn to more favorable environments elsewhere. Factors like crime rates and the overall atmosphere of a city do play into these considerations.

    In the end, you're right that many unknowns exist, and the future remains speculative. However, engaging in discussions and sharing perspectives can contribute to a deeper understanding of the potential paths ahead.
     
    #16     Aug 28, 2023
  7. You can't be serious. Please don't spread lies in the name of BTC Maximalism. No need to.

    BTC is a privacy nightmare and is easily tracked. The mixers can only do so much.
    Glassnode makes a handsome revenue from the BTC chain analysis via its premium users.
    Speaking of chain analysis, most of https://www.chainalysis.com/ revenue comes from the government, likely the IRS.
     
    #17     Sep 2, 2023
  8. If you are using Ethereum and EVMs, it's not that to connect the dots, since Ethereum is designed to be transparent, for obvious reasons. Of course it depends on your behavior.

    Influencers, devs, whales, etc have had their wallets doxxed by regular users via standard chain analysis combined with tracking social media. Most of these people aren't savvy so it's just a matter of putting in the work.

    Governments subpoena exchanges for KYC information and basically that is the major link which tracks the vast majority.
     
    #18     Sep 2, 2023
  9. johnarb

    johnarb

    Welcome back, thought you got wiped out with your funds stuck at FTX, glad to hear you survived

    First of all, you're not a Bitcoiner, so you may think you know how the Bitcoin network functions, but you do not

    Metamask is tracking US ip addresses and DeFi projects i.e. dexes and staking projects are geo-blocking US IP addresses

    Name a Bitcoin wallet, a crypto project an exchange or a lightning node that can track the IP address of a bitcoin transaction and explain how they are able to do it?

    Does the IRS have jurisdictions in all the world's crypto users outside of the US?

    Most of my bitcoins are non-KYC, this goes over your head, but you do not mix KYC bitcoin utxo's with anon bitcoin utxo's
     
    #19     Sep 2, 2023
  10. I shorted FTX and the general market actually. But did get $1300 stuck there.

    Metamask only tracks IPs under specific validators. Just change the RPC. Use your own node. This is standard stuff. Ethereum was not designed for privacy, it is meant to be transparent for a very obvious reason.

    BTC miners actually sell your IP data, as the transaction leak IPs. This has been known for while. Sorry you aren't in the loop.
    Any third party wallet UI for whatever crypto can track whatever data they see fit. It's just business.

    And if you are gonna bring up the IRS, you might just want to educate yourself on their latest cases prosecuting those involved with Silk Road. The Bitcoin ledger is going to be a major revenue source for them, and kinda already is.
     
    #20     Sep 2, 2023