Do you agree if coinbase/exchangers give the data of costumers to IRS/government

[Slark]

I see some contradictions in way of thinking bitcoiners exhibit - we all want to push bitcoin adoption further - for many that is the ultimate goal of bitcoin and measure of its success.
But at the same time we want Bitcoin to stay in grey area of law forever - so it could be safe haven asset, we could hide, use and never declare any transaction to IRS.
I am afraid that we can't have total adoption, price increase and tax free environment at the same time.

[chaser15]

I see some contradictions in way of thinking bitcoiners exhibit - we all want to push bitcoin adoption further - for many that is the ultimate goal of bitcoin and measure of its success.
But at the same time we want Bitcoin to stay in grey area of law forever - so it could be safe haven asset, we could hide, use and never declare any transaction to IRS.
I am afraid that we can't have total adoption, price increase and tax free environment at the same time.

That's what other people think. Most people here wants that bitcoin will become accepted worldwide and even use it freely. They want a big adoption but also wants to be out of the law at the same time.

It will never happen since bitcoin can use on a good purpose and illegal one. How come authorities can protect the community if everything is anonymous. How about robbery, theft, money fraud etc. How will the bitcoin user concern will able to battle that if ever bitcoin will become mostly accepted. There are prons and cons if people use bitcoin. It's not 100% only pros we can encounter by using it. So for me, I don't want it to be worldwide accepted. Im happy with the status of bitcoin now. Expect some regulations that will applied to bitcoin same as how fiat regulated if ever it will be legally accepted worldwide.

[tiggytomb]

I see some contradictions in way of thinking bitcoiners exhibit - we all want to push bitcoin adoption further - for many that is the ultimate goal of bitcoin and measure of its success.
But at the same time we want Bitcoin to stay in grey area of law forever - so it could be safe haven asset, we could hide, use and never declare any transaction to IRS.
I am afraid that we can't have total adoption, price increase and tax free environment at the same time.

Kind of agree here, if bitcoin is to become truly mainstream then the likes of the IRS will be part of it to ensure they get their share.

Just waiting now for the headlines once the IRS is finished "Terror funding bitcoin tax evading users exposed" or something along those lines.

[azguard]

Still if i read this correctly this should be for US only but they will have data from all over the world and that is not good or fair.
Also mentioned that other exchange will follow this, but coinbase is US located i dont think that other exchange will allow this especially in Europe.

[BitHodler]

Still if i read this correctly this should be for US only but they will have data from all over the world and that is not good or fair.
Also mentioned that other exchange will follow this, but coinbase is US located i dont think that other exchange will allow this especially in Europe.

It basically doesn't matter what countries are affected by this.

If it happens in one country and it turns out to be a great succes for them, then it's just a matter of time before other governments do the same as well.

Their only intention is to chase down people avoiding the obligation of paying tax. In that matter they will do everything to go full nuts on exchanges just to scoop up some money.

Exchanges can't deny any requests for user information by governmente as they can easily hide themselves behind various anti money laundry and anti terrorism laws.

[azguard]

Still if i read this correctly this should be for US only but they will have data from all over the world and that is not good or fair.
Also mentioned that other exchange will follow this, but coinbase is US located i dont think that other exchange will allow this especially in Europe.

It basically doesn't matter what countries are affected by this.

If it happens in one country and it turns out to be a great succes for them, then it's just a matter of time before other governments do the same as well.

Their only intention is to chase down people avoiding the obligation of paying tax. In that matter they will do everything to go full nuts on exchanges just to scoop up some money.

Exchanges can't deny any requests for user information by governmente as they can easily hide themselves behind various anti money laundry and anti terrorism laws.

Ok if this is for "tax" but what if some country dont accept bitcoin at all, there are countries, what then they took your/mine/or someone elses data and use it, it not ok by that point of view. Still if government/countries accepted bitcoin as pay mean ok then small fee is ok for it, but if they dont still is something else then they want to see how many people are using it, my point of view

[btc_enigma]

coinbase is more different than a fiat bank. I don't know people still use it and leave their coins on coinbase

[vapourminer]

Even though I'm not using coinbase, I don't agree with this. It is against the privacy of all their customers. But it seems high powers are already asking for it. Many of coinbase customers that has shady transactions will shift into other site and will totally forget using coinbase. Does coinbase can't do something about this to stop IRS from forcing them?

coinbase wanted my bank account info to exchange BTC/ETH into USD.

banks tell the IRS anything over a certain amount (10 grand?)

seems pretty simple to me. do not use coinbase if you are shady/illegal/etc.

[neochiny]

Does it even matter if we agree or not? For the moment coinbase is able to avoid complying with IRS request, but I don't expect that to last for long.
So, either declare your proper income or use a more anonymous service.
(good luck with that as most have already capitulated with KYC/AML regulations.)

[densuj]

Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that

...so?  If you live in the US you have to pay taxes.  It doesn't matter how you made the money, you pay taxes on it.  I don't see the problem.

Yes i agree with you every body must be love their countries with pay the taxes, but the problem is how if the users of coinbase are from other countries except USA. It will become problem because of they are not from USA and must be giving the data to IRS, should we be trust in IRS? I am doubt about it.

If you don't live in the US or make money in the US the IRS doesn't care about you.  So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.

Of course i have reasons to distrust to IRS, how about my indentity and other who has made registered on coinbase? It can be blamed by IRS and it is mean problem for coinbase's costumers the IRS has took human right related bitcoin for keeps be anonymous.

[Hazir]

i have reasons to distrust to IRS, how about my indentity and other who has made registered on coinbase? It can be blamed by IRS and it is mean problem for coinbase's costumers the IRS has took human right related bitcoin for keeps be anonymous.

Unfortunately your right to be anonymous is not working when taxes are on the line. Bitcoin users want to avoid taxes by using bitcoin - and so far they are rather successful at that.
You want to hide from IRS? Then don't use Coinbase - don't use any big exchange - sooner or later they all shall comply to IRS, no exceptions.

[bohr]

As we know bitcoins is anonymous and very appreciate about our privacy, but the exchangers be asked by government for show up our data to unknowing people.
It is for example and details what is aim they do it.
https://cointelegraph.com/news/expert-any-bitcoin-exchange-may-follow-coinbase-requested-by-irs-to-expose-users

If we don't want that to happen to us then the only way is to avoid exchanges, even though I don't like it the exchanges have made very clear they will cooperate with the authorities.

[DarkDays]

Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that

...so?  If you live in the US you have to pay taxes.  It doesn't matter how you made the money, you pay taxes on it.  I don't see the problem.

Yes i agree with you every body must be love their countries with pay the taxes, but the problem is how if the users of coinbase are from other countries except USA. It will become problem because of they are not from USA and must be giving the data to IRS, should we be trust in IRS? I am doubt about it.

If you don't live in the US or make money in the US the IRS doesn't care about you.  So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.

Of course i have reasons to distrust to IRS, how about my indentity and other who has made registered on coinbase? It can be blamed by IRS and it is mean problem for coinbase's costumers the IRS has took human right related bitcoin for keeps be anonymous.

You don't have the right to have your finances by anonymous from the IRS.  That's the entire point of it as a government institution.  

[deadsilent]

I totally disagree to this. Bitcoin is for anonimity. Whats the use of it if they surrender every details to government. But we cant do anything about this because we cant buy bitcoin without these exchange. We have to follow them to buy bitcoin from them. The government is aware because if bad guys use bitcoin for any illegal things like money laundering, it is easier for them to track.

[n691309]

As we know bitcoins is anonymous and very appreciate about our privacy, but the exchangers be asked by government for show up our data to unknowing people.
It is for example and details what is aim they do it.
https://cointelegraph.com/news/expert-any-bitcoin-exchange-may-follow-coinbase-requested-by-irs-to-expose-users

"If they would ask us", I think that most of people would not agree with this because they all want to protect their info and not sharing with anyone else especially the governments which try to track you on every aspect in life.

[densuj]

Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that

...so?  If you live in the US you have to pay taxes.  It doesn't matter how you made the money, you pay taxes on it.  I don't see the problem.

Yes i agree with you every body must be love their countries with pay the taxes, but the problem is how if the users of coinbase are from other countries except USA. It will become problem because of they are not from USA and must be giving the data to IRS, should we be trust in IRS? I am doubt about it.

If you don't live in the US or make money in the US the IRS doesn't care about you.  So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.

Of course i have reasons to distrust to IRS, how about my indentity and other who has made registered on coinbase? It can be blamed by IRS and it is mean problem for coinbase's costumers the IRS has took human right related bitcoin for keeps be anonymous.

You don't have the right to have your finances by anonymous from the IRS.  That's the entire point of it as a government institution.  

Unfortunately it is not about my finances, but it is about data of costumers on coinbase although it is late for debates because the IRS has took the data from coinbase.
Mostly of users on here they are dissagree with it, and as you said That's the entire point of it as a government institution.   so we can not do anything about it.

[Herbert2020]

As we know bitcoins is anonymous and very appreciate about our privacy, but the exchangers be asked by government for show up our data to unknowing people.
It is for example and details what is aim they do it.
https://cointelegraph.com/news/expert-any-bitcoin-exchange-may-follow-coinbase-requested-by-irs-to-expose-users

first of all bitcoin is not anonymous and it never was.
and about your question i have to say when they don't have it in their terms and services when you sign up they have to warn people about it when they change their policy and destroy any information they may have kept before the new rules.