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subwoofer12
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November 26, 2013, 02:01:38 PM
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November 26, 2013, 02:22:39 PM
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That will never happen.  Bitcoin will be taxed as a commodity like copper or gold and you will be liable to Capital Gains Tax if you have a decent increase in value.
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November 26, 2013, 04:08:50 PM
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The government could easily follow the trail up until you get to the mixer.

That is, from Bank Account (Buying coins in USD) > Coinbase > Coinbase Wallet > Blockchain mixer.

This leads to two issues:
1) They will notice the mixing, and it's not going to look good for you. This will likely come to bite you in the ass.
2) Even if they do happen to miss 1), they'll still tax you as if you still had that bitcoin. This is actually worse than you might think, for example. You could gamble all your BTC away and have nothing, but for all they know you still have that BTC and they're going to tax you for money you don't have anymore! There was a similar incident that happened during the .COM bust, guy sold some of his stocks for millions, bought a bunch of crap. Stocked crashed, he still owed taxes for those millions but now his remaining stocks are worthless. He ended up shooting himself in his private plane. If you're going to sell your BTC or stocks or w/e, you NEED to set aside some of that for taxes.

That plan won't work, and actually, laundering money with BTC isn't as easy as most people think, unless you're dealing with cash in person BTC->USD and USD->BTC.

Most exchanges have some sort of identification.

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November 26, 2013, 06:38:13 PM
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So you're saying once my Bitcoins are sent into the mixer the trail behind them would completely disappear?

Blockchain's website says "All transactions in a bitcoin wallet can be linked together, shared send is used to break the chain of transactions"



Not entirely but it would definitely be more difficult to determine the ending address.

For the purposes of this discussion, the government would only be concerned with the fact that it's being sent to a mixer in the first place.

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