Do NOT declare that you have ever owned bitcoins

[Come-from-Beyond]

There are a lot of threads about taxation and FinCEN regulation on this forum. Now you can pay taxes, register yourself as Money Service Business (MSB) and sleep well, but... The state won't stop and will continue to strangle Bitcoin. One day it will make Bitcoin illegal.

Now the state collects data who uses Bitcoin, so in the future (when Bitcoin becomes illegal) they'll pay very close attention to those who declared that they "touched" bitcoins. It's a well known trick:
1. Pretend you are just going to regulate something.
2. Collect data about users.
3. Make it illegal.
4. Spy the users.
5. Prosecute those who violate the law.

Keep this in mind...

[tutkarz]

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

[Come-from-Beyond]

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

[tutkarz]

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

I said WE not me. And i understand that people THINK they cant change anything. But its false statement.

[Kaiji]

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable  medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

[hugolp]

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

I said WE not me. And i understand that people THINK they cant change anything. But its false statement.

I hope you are not refering to voting, because then we are all doomed.

[debianlinux]

No one owns Bitcoins. Bitcoins are represented n the blockchain which is distributed free of charge to anyone willing to download it.

Some may claim ownership of private keys, however.

[Notanon]

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable  medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

Wasn't there a ruling by FinCen not too long ago stating something to the effect of declaring what is converted back to fiat for capital gains purposes, meaning it's semi-legit in the US?

[The 4ner]

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

[Abdussamad]

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

All the information is public isn't it? All transactions are recorded in the blockchain which anyone can view. All governments have to do is develop a computer program to track those transactions and match them to individuals and businesses. If you've ever published a bitcoin address in public the govt. could use that information to track your transactions. It may not be able to get a complete picture but a partial one is definitely possible.

[Come-from-Beyond]

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Bitcoin is NOT anonymous. It's pseudonymous. If at some point u reveal ur name then ALL transactions can be tied to it. Even if u use "shared" wallets.

More info that proves that Bitcoin is not anonymous - http://spar.isi.jhu.edu/~mgreen/ZerocoinOakland.pdf.

[Realpra]

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Yes. That is why this news just makes me smile.

I'm looking forward to the failures, trials and salty tears of so many politicians in coming years.

Do you have any idea how long time, I have hated these ignorant lying bastards? Finally we get to f*ck them back.

[dodegkr]

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable  medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

Lets be realistic, bitcoin is not really anonymous as the humans using it are leaving traces all over the place.
That was shown at  28c3 in 2011 http://www.youtube.com/watch?v=-FaQNPCqG58  00:42:35

[Mike Christ]

Do no fear your government.  Your government should be pissing their pants with the thought of you.

[Come-from-Beyond]

Do no fear your government.  Your government should be pissing their pants with the thought of you.

Maybe should, but they surely don't.

[Mike Christ]

Do no fear your government.  Your government should be pissing their pants with the thought of you.

Maybe should, but they surely don't.

Means it's time for a revolution   They really don't fear us anymore.  We need to remind them why they should.

[Anon136]

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

I said WE not me. And i understand that people THINK they cant change anything. But its false statement.

I hope you are not refering to voting, because then we are all doomed.

rofl i didnt even think about that, i just assumed he meant moving away. But now that you point it out, im sure thats exactly what he meant.

[virtualmaster]

No one owns Bitcoins. Bitcoins are represented n the blockchain which is distributed free of charge to anyone willing to download it.

Some may claim ownership of private keys, however.

That is a valid point.
Whatever you say that you have bitcoins or not both can be truth in the same time from a different point of view.
However best if you don't say to the police both on the same day because you will confuse them.

[Frozenlock]

However best if you don't say to the police both on the same day because you will confuse them.

Yeah, they get angry when they don't understand something. 

[Twerka]

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Right now there is a debate about a law to make internet service give goverment information about what are people watching on internet.

Anyway, nobody wants this law, but it is been debated. Thought it was a democracy, am I wrong?