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So you're asking for advice on fishbowl about how to commit a felony?
🍿
You could try drug dealing
That would be nice wouldn't it
Only two things are certain in life: death and taxes
In all serious none report, coinbase is fighting an IRS John Doe request in court but if you get audited and didn't properly report cap gains from bitcoin the result isn't going to be have been worth trying to hold onto an extra 35% of your gains. Remember bitcoin isn't anonymous and with the recent arrests for money laundering and exchange shutdowns you are much better being careful and stay within the law
If the financial institution doesn't report, how is that committing a felony? I'm not doing anything wrong ...
Most exchanges have a kyc process
KYC, surveillance and AML is in place at every exchange now.
Thanks for the info all. Aside from Coinbase, any other exchanges worth considering?
I use Bittrex,poloniex, gdax. These three provide me with enough coverage. Looking into Gemini for lower purchase costs.
There's software now to help you with your taxes on crypto - unfortunately, it's $200 a year. I'll be paying $400-600 all-in simply to report my taxes? While I'm not a fan of tax evasion, the current state is a real hassle.
You can be anonymous if you try hard enough. You can pay cash on localbitcoins, keep them in a private wallet, and sell them on localbitcoins in cash and they will never be tied to your identity. You should definitely thoroughly research it before you get into that kind of stuff though, don't want to put your whole life on the line unless your OPSEC is tight.