I didn't pay capital gains tax on bitcoin sales to IRS today

[cryptoanarchist]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

[Ragnarly]

Who do you think you are? Some sort of cryptoana... oh.

[xv11]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

I hope you get caught

[goose20]

Who do you think you are? Some sort of cryptoana... oh.

Hahaha - I like it.

[TTBit]

Did you report your gains and say the tax rate you need to pay is zero, or did you "forget" to report the gain?

[Robert Paulson]

is it really smart poking the buffalo with a stick?
i hope you are at least posting this behind TOR and if not that the tax man won't subpoena the forum to disclose your ip to make an example.

[franky1]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

[7Priest7]

i hope you are at least posting this behind TOR and if not that the tax man won't subpoena the forum to disclose your ip to make an example.

Right, Cause they don't got bigger fish to fry.

IRS is a bloated lazy organization(like most if not all U.S. government agencies.)
They expect you to do all their work, then they have machines process it all.

They will likely only pursue the wealthiest of known bitcoin investors.
They likely only declared bitcoin taxable so they can get a cut of the silkroad auction.

[kendog77]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

You probably won't get caught as long as you don't have any large cash transactions related to BTC into or out of your bank account. If you do get audited and have large Bitcoin related transactions in your bank records, you will have to explain them, which means you're fucked.

[LAMarcellus]

In honor of this momentous day I hereby re-present my favorite bitcoin article of all times.
Bitcoin - The Libertarian Introduction
http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-introduction.html
Written by Erik Voorhees

[cryptoanarchist]

is it really smart poking the buffalo with a stick?
i hope you are at least posting this behind TOR and if not that the tax man won't subpoena the forum to disclose your ip to make an example.

They would still have to prove that I owe them something.

[7Priest7]

They would still have to prove that I owe them something.

^ This... Bitcoins can be used like the stock market but unlike the stock market you are not required(if you use the right channels) to give your real name/etc.

[TheButterZone]

You will be summarily executed for good measure. Even the specter of economic liberty cannot be allowed to exist under the totalitarian governments of the world.

[BittBurger]

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

According to Charlie Shrem, several govt agencies are monitoring here. 

Govt and law enforcement has hired people specifically for the task of monitoring these forums, reddit, and the IRC chat.

Hi you guys! 

[marcus_of_augustus]

careful crypto dude you might start an avalanche dancing with such glee and freedom ....

http://thesocietypages.org/socimages/2012/05/14/the-network-effect/

[bryant.coleman]

i hope you are at least posting this behind TOR and if not that the tax man won't subpoena the forum to disclose your ip to make an example.

Well... Ross Ullbricht also used the TOR browser and he thought that the FBI would never track him down. Guess what. He was wrong. So don't be overconfident and no need to brag about this.

[El Dude]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

selling Bitcoin for Fiat

blasphemy

[vipgelsi]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

what a fool leave sleeping dogs alone

[cryptoanarchist]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

selling Bitcoin for Fiat

blasphemy

A cryptoanarchist bitcoiner with a bank account?

Blasphemy!

The only place I keep fiat is in my wallet. Banks are for suckers.

[hello_good_sir]

A cryptoanarchist bitcoiner with a bank account?

Blasphemy!

The only place I keep fiat is in my wallet. Banks are for suckers.

You don't have a bank account.  That means that you probably don't have a house, or a credit card, direct deposit, or children, or any of the other things that are part of normal life.  You are basically a monk of a pseudo-religion.  Your experience is so far from our own that any advice that you might have is likely to be useless or even dangerous to us.

Monks cannot provide a good example to the rest of us, because if we all lived like monks there would be no families and thus no future.  All purely monastic societies die sooner or later.