The parabolic pattern will not last forever. I plan to make an exit by exchanging my BTC for US dollars in my bank. I have a cold storage wallet, a Coinbase account, a Binance account, and a US bank account. I may set 2 or 3 exit points as the parabolic pattern moves upwards.
Is a US bank account really going identify taxes if I funneled and sold BTC for a profit through Coinbase?
The IRS is who you need to worry about, and they are keeping a close eye on Coinbase customers.
3 years ago, the IRS filed a summons on Coinbase requesting all customer data covering a 3-year period. The reason? They believed Coinbase customers may have been evading taxes. After a lengthy court battle, Coinbase handed over the data of 13,000 customers to the IRS and presumably some of those people will be audited (or already were).
I would pay my taxes if I were you.
