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that's where anonymity comes in. buy XMR and then convert to BTC.
but russia is probably not the bad guy
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Most of the exchanges have to deal with centralised payment organisations (such as visa, mastercard and banks) if you accept cash and don't kyc (wherever you are) you're at a higher risk of being scammed by a chargeback or by something being counterfeited/faked.
There are peer to peer and decentralised options for loading and unloading funds but they're not as trusted because of the higher risks involved (eg bisq only allowing small cash conversions to attempt to mitigate scams).
Even though they're backed by centralised exchanges, stablecoins might be the best alternative to trying to buy crypto without kyc (after mixing funds bought on a kyc exchange in some way or using a proxy).
also, I'm wondering. if you're paying via credit card, just wait for the transaction to go through. there is also a paper trail so why do they want you to show ID and face? Now days even videos. Even more than missing out on the price. I miss being in crypto earlier because it was so easy back then to just buy crypto anonymously. |
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Which countries dont ask for KYC for their citizens buying bitcoin on exchanges.
and how come no exchanges have set up operations in those nations and gave a middle finger to the US and EU when asked to collect KYC on their exchanges?
It shouldn't be so hard to anonymously buy bitcoin.
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Tor friendly? Do not go closer to any centralised exchanges with your idea or you will be locked out sooner or later, once your so called tor VPN is detected anything can happen, if you are trying go hide your identity go for dexs.
Any good (actual) dex ideas? |
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Thanks I'll check them out. |
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Unfortunately the fun is over for me. I was using the safepal app to use the binance supposed alleged decentralized exchange (bs) to use XMR to swap over but they ended that a few days ago by locking accounts unless KYC is provided... and I actually have some funds stuck on the exchange because of that. I can withdraw but some of the alt coins are frozen for some reason. Luckily I was able to withdraw my bitcoin.
Anyways... so yeah. That's a no go. There is also the Incognito wallets exchange that has XMR but the fees from slippage are insane for larger amounts.
What others are there that are tor friendly? Like I use a tor router that my computer connects to the internet to but some exchanges have not allowed me to make an account because I guess they think I'm in the USA trying to use tor to look I'm in another nation.
I swear if I get rich I'm revoking my citizenship. This is ridiculous the amount of turmoil you have to go through to remain anonymous or not deal with KYC.
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2nd question btw. Any idea how many people are buying/selling bitcoin and have not paid taxes? I've heard it's a lot but idk what percentage of the population. Like a lot of people I know who are into bitcoin didn't even know you had to pay taxes on trades. I, like them, thought it was only when you cashed out. I heard the IRS sent a crap ton of people letter reminding them of taxes.
Also, do exchanges like coinbase automatically hand over all your info to the IRS or do they only do it upon request? Like the IRS has to call them to ask for yours in particular?
What about exchanges like foreign exchanges like kraken or kucoin? I hear they are less likely to cooperate with the US gov? Idk. anyone have much info on that?
Not one well-known cryptocurrency exchange in the world will contradict the policy of US financial regulators. If data about you is required, the exchange will provide it. This is written in the user agreement. No need to be so naive, all your data about the actions on the exchange is not protected. I trade through decentralized bridges https://app.rango.exchange/Try it, more information in my topic https://bitcointalk.org/index.php?topic=5389259In case you're wondering, you might want to check out the incognito wallet/exchange. No KYC, you can privately convert to XMR and there is no info they can give to the gov even if they wanted to but the best part is they're not located in the US so they wont be getting shut down. I think they're located in some South Asian nation and another part of it in Russia I think? If in Russia, I'm pretty sure any exchange there is not going to cooperate with the US right now lol. I wish there were more Russian crypto exchanges. |
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--snip--
Hey, you dont know by any chance on how to program your PC to automatically open urls via tor? I can do this for my phone/android but yeah.
this was the first hit i got on google: https://www.wikihow.com/Route-All-Network-Traffic-Through-the-Tor-NetworkAn other option would be to run tor, and setup your browser to use the running tor instance as a socks5 proxy. That way all traffic from this browser is routed trough tor, but the rest of your traffic is not. Awesome thanks! Btw just for your added knowledge. I found something called a tor router! You can just have your pc connect to the tor router and everything you open will open through that just in case anyone is interested. |
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How would receiving the bitcoin as a gift work? I think gifts are exempt to a certain point.
The answer to this is given in the same link I provided above: https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactionsQuestions 31 and 32 deal with receiving bitcoin as a gift. You have no tax liability on bitcoin received a gift until you do something with that bitcoin. Your cost basis for the gift will be the same as the cost basis of the person who gifted it to you. If you can't prove what their basis is, then your basis will be zero. Does it matter if you dont plan to sell your btw but rather borrow against it one day? Putting bitcoin up as collateral for a loan will have different tax implications, but I have no idea what those implications would be because I've never done this. My understanding is that it is incredibly risky, and if you get liquidated then you will end up still owing just as much tax as if you sold the bitcoin, but you'll only have a fraction of the bitcoin value in fiat in your possession. Thanks very much that helps a lot! Hmm... what if they only can prove part of the transaction. Like they bought some btc on exchange, and some with cash from p2p irl? And yeah it's risky depending on how much you're using. It's a lower chance of getting liquidated if you say only use 25% compared to 75% or idk if anyone can loan out 100% of their collateral. I think the norm is like 50%. So long as bitcoin never drops below 50% of its value at that time you're okay. Which it could, which is why maybe only using 25% would work since it's unlikely btc will ever see an 80% dip like in the old days...... hopefully. I think one day we'll get to that point. idk if we're out of the water yet but yeah. hell, maybe just 20% Idk would be the safest option although you aren't really borrowing against that much. |
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2nd question btw. Any idea how many people are buying/selling bitcoin and have not paid taxes? I've heard it's a lot but idk what percentage of the population. Like a lot of people I know who are into bitcoin didn't even know you had to pay taxes on trades. I, like them, thought it was only when you cashed out. I heard the IRS sent a crap ton of people letter reminding them of taxes.
Also, do exchanges like coinbase automatically hand over all your info to the IRS or do they only do it upon request? Like the IRS has to call them to ask for yours in particular?
What about exchanges like foreign exchanges like kraken or kucoin? I hear they are less likely to cooperate with the US gov? Idk. anyone have much info on that?
If they can't prove that you bought/sold crypto, how are they going to tax you or punish you? They can't do neither of those. (At least I hope) Sooner or later the Governments are going to figure that out and probably force the exchanges to ban anonymous coins. They can already see everyone who bought and sold anonymous coins on the exchanges like coinbase. The problem rises when people do P2P trades and nobody can see the XMR trades because there isn't a public blockchain. While they can track down the traces on the bitcoin blockchain and find your transactions, they can't do this on XMR. That's why XMR is way more dangerous than BTC. (to the govs ofc) They wont if they dont know what you own. The issue is when you want to cash out or buy something big. They'll ask "Where did you get this from?" You can say I bought the bitcoin at 50k but if you cant prove it, I assume they'll treat it as if you bought it for 0 dollars. Although, I do wonder how gifts, or even better, art works? Like ... idk. The biggest fear is them not believing that you saved up a ton of money to buy it when you did. "I used my literal life savings" Idk. As far as the block chain goes. I think the blockchain trail ends when its converted to XMR, from my understanding, the only thing they can do is try to find where a new btc entity from XMR came from. So if like .74 btc vanished into XMR, trying to see if .74 or .73 shortly later "appeared" out of XMR. But afaik it's only speculative and there is no solid proof that was "you" who did that. They can only at best, if they found that, guess it might be you. But it could be anyone. This is why they hate privacy coins and want KYC for everything. |
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Whenever we start talking about the whales we should also consider they do not necessarily trade every day or every week, the whales usually do long term or at least mid-term investing so they won't transfer their money a lot which can help them to stay anonymous a whale usually uses multiple wallets so there is no need to track sone single big transactions, instead they will do multiple and normal transactions, in the other hand they usually trade p2p and this will help them to stay away from the taxes.
I wish it were easier to find people willing to meet irl to buy/sell btc. I hear too many horror stories of p2p done online gone wrong. Someone wants to buy btc and sends seller cash, seller says "I didn't get anything from you" buyer swears they sent cash. Maybe it got lost in the mail, but if they sent it, I guess they lost how much ever they sent which could have been a heck of a lot. Usually it's the buyers end that gets the short stick because it's easy to see if someone sent you btc, but cash in the mail? It could be a case of it being no ones fault except for the mail service. WHo knows. IRL has dangers too but at least you can do more about something if someone tries to cheat you and there is no middle man to go through. I wish there were btc conferences or groups or whatever in my geographical area.... I'd trust buying btc from someone at a btc hangout group or convention or something. |
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I'm guessing, move out of the nation? But to what other nation?
Like looking on the blockchain and seeing so many btc millionaires hardly doing much with their btc. Like, they got it long long ago but haven't sold but might owe taxes (trades, buying, etc. ) wonder how many people in general dont pay taxes? I heard it's a lot in the US for crypto holders.
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I feel like I'm too late and the btc price is literally just gonna go sideways forever. Or maybe a slow gradual push up. Maybe in 20 years it will be worth half a mil.
I dont think we're gonna see anymore gains like people of the 2010s and 13s experienced. and even 2017...|
Will btc ever hit a million? Or hundred million?
I kick myself so hard every night going to sleep that I didn't get in earlier. Liek I'll literally have dreams of being in 2013 when I first heard about it and buying some... T_T
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I'm guessing the only time it's an issue is when you look at a transaction. the blockchain explorer website might log your IP.
They record your IP address and you don't know what they will do with their data base includes your IP addresses. But I suppose if you use tor to look at a transaction you should be fine. Just switch all your default internet to tor.
It is true but if you have your non custodial wallet, why do you need Tor and explorer to check your transaction? Open your wallet and you can see whether your transaction is confirmed or not yet. Tor is available for Android too - Download Tor: https://www.torproject.org/download/- Tor for Android: https://www.torproject.org/download/#androidHey, you dont know by any chance on how to program your PC to automatically open urls via tor? I can do this for my phone/android but yeah. |
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Does it matter if you dont plan to sell your btw but rather borrow against it one day?
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I have most of mine on an exchange because I'm getting paid interest. Has there ever been a time when an exchange like Binance for example, steals your funds or gets hacked and people lost money?
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How would receiving the bitcoin as a gift work? I think gifts are exempt to a certain point.
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Not sure what you mean by 'anonymous Bitcoin' in the title.
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Regards,
PrivacyG
Thank you very much for your opinions! Oh to clarify I mean specifically bitcoin that was either not bought on a kyc exchange (ATMs with a burner phone) or bought before KYC was a thing, or mined. Also including btc made anonymous through XMR swaps. |
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There is no Bitcoin Atm in my country because it's totally illegal to use any kind of Cryptocurrency. Hope soon Bitcoin will legal worldwide and we will be able to use crypto ATMs. But it's tough enough in my country.
The bitcoin community needs to fund a way for people in countries where it is illegal to be able to buy it. Like what's the point of bitcoin if it can be banned? |
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