91–100 of 187 posts
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Kevin de Leon is running against her and has some political and media support. Unfortunately, he's far to the left of her on the issue of gun control and that alone may nullify whatever small chance he had of getting elected.
Is his district (LA) particularly pro gun?
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Exactly. It is an asset. So you only disclose when you sell?
You don’t disclose assets to the IRS, only income. If you disclose your income and pay tax on it then convert it to BTC today you aren’t obliged to disclose it. In theory after you sell it you’d have a capital gain to disclose.
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So long as you never use your currency to buy anything you've got a great anonymous currency. Sounds very useful.
If a coffee shop accepts bitcoin, your transaction is effectively as untraceable as cash is today. The more that people use bitcoin, the more useful it gets and the harder it is to stop.
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If you have an account with 100 mill in stolen bitcoins and use it at a coffee shop then looking at security footage is relatively trivial as there is a clear time stamp involved. Cash on the other hand might be traced at the bank, but it it's hard to directly link it unless their is a clear pattern of behavior. Even better, a random 5$ bill may not end up at the bank directly if someone get's change at the end of th…
Cryptocurrencies can be mixed. If you engage in very basic precautions, such as doing something easy like transferring your money to monero, and then back again, it is effectively impossible to track where your money came from. Once you get to the coffee shop stage, nobody knows where that money came from.
And you don't need to be 100% certain, it's enough to get a pool of suspects which then you can analyze/surveil with other methods.
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Not only did she pretend to be incredulous about NSA spying, she put forward the bill to excuse most of it after completely redirecting the conversation to "metadata." Now Ajit Pai made it a partisan issue she's having screaming about being pro net neutrality but a few years back she co-sponsored the PIPA bill! Worst of all she's considered to be basically impossible to replace. It would be very nice to see CA stop g…
>Worst of all she's considered to be basically impossible to replace. It would be very nice to see CA stop giving her money and put a significant challenger forward but it's probably not good ROI to attempt. The only type of person that has a chance is a celebrity. If Arnold can win governor as a Republican, then a left-wing celeb can definitely primary Feinstein.
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Kevin de Leon is running against her and has some political and media support. Unfortunately, he's far to the left of her on the issue of gun control and that alone may nullify whatever small chance he had of getting elected.
Is his district (LA) particularly pro gun?
Uh, it says intentionally concealing , not owning. Income from investments is supposed to be reported to the IRS. It’s silly that anyone would expect crypto currencies to be an exception. This would be one of the few cases when the title should be updated.
> Income from investments is supposed to be reported to the IRS. Bitcoin income has required disclosure since 2013, this bill seems to say that even bitcoin just sitting idle in an account need to be disclosed somehow, which is a MAJOR breach of privacy. This is like saying to someone "If you own a nice painting in your house you need to let us know about it" even if it generates no income. They are basically saying…
So if you think about it, they are not asking anything different from what they already do.
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It is a violation of privacy rights.
Is there any right to keep your possessions private from the tax agency? Last time I checked, everyone had to specify everything of value owned, and sign for it, to calculate capital taxes due (I live in the EU). This includes BTC holdings. We have to trust the tax agency to keep tax data confidential. It surprises me that the US needs to change laws to require this only now. I'd say the wording of the old laws were…
The Us does not have that kind of tax. There is no wealth/capital tax here. There is no tax authority with that information here.
And to be honest, I find it abhorrent that you’ve been conditioned to accept that kind of invasion of privacy and mandated trust as normal and expected.
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> Income from investments is supposed to be reported to the IRS. Bitcoin income has required disclosure since 2013, this bill seems to say that even bitcoin just sitting idle in an account need to be disclosed somehow, which is a MAJOR breach of privacy. This is like saying to someone "If you own a nice painting in your house you need to let us know about it" even if it generates no income. They are basically saying…
Ish. it's not that different from status quo. 1. Government already knows all of your US bank accounts. 2. They ask you to declare foreign bank accounts. 3. Majority of countries have deals with US to inform them of US residents/citizens accounts, and many banks for this reason do not accept new accounts from us citizens. 4. US asks you to declare any monetary instrument as you enter country (above 10K) or so. So if…