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US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

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Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#181

Post by dang »

bfuller wrote: post #175
akvadrako wrote: post #159

Earlier quoted context omitted.

No, you stop using crypto. This is a terrible language abuse; I don't know how you can defend it.

Regardless of what your opinion is, using the word crypto to mean crypto currency is already in common use, you can't argue against that. The collective unconscious decides the meanings of words. Language evolves. I guess the world looks pretty different all the way up on your high horse. This is a battle you have already lost but for some reason insist on continuing to lose.

Language certainly evolves, and personal attacks will get your account banned on HN. Please keep these things separate and edit the latter out of your comments here, regardless of how bad someone else's comment may be.

https://news.ycombinator.com/newsguidelines.html

https://news.ycombinator.com/newswelcome.html

Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#182

Post by lstyls »

rubyfan wrote: post #106
lstyls wrote: post #92

Earlier quoted context omitted.

Not true. There are reporting requirements for certain foreign assets, including cash in overseas accounts.

Didn’t know, can you elaborate on that?

Sorry for the delay!

https://www.irs.gov/businesses/comparison-of-form-8938-and-f...

Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#184

Post by CryptoPunk »

Retra wrote: post #154
CryptoPunk wrote: post #146

Earlier quoted context omitted.

The income tax requires violating privacy rights, which is why many libertarians oppose it.

Only if you're committed to the practice of declaring for yourself arbitrary rights.

Excuse me for thinking I have a right to my privacy. Just because a right is inconvenient to social democratic ideology, doesn't make it illegitimate.

Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#185

Post by bfuller »

dang wrote: post #181
bfuller wrote: post #175

Earlier quoted context omitted.

Regardless of what your opinion is, using the word crypto to mean crypto currency is already in common use, you can't argue against that. The collective unconscious decides the meanings of words. Language evolves. I guess the world looks pretty different all the way up on your high horse. This is a battle you have already lost but for some reason insist on continuing to lose.

Language certainly evolves, and personal attacks will get your account banned on HN. Please keep these things separate and edit the latter out of your comments here, regardless of how bad someone else's comment may be. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newswelcome.html

fuck you ban me you cunt

Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#186

Post by krrrh »

heimatau wrote: post #147
krrrh wrote: post #110

Earlier quoted context omitted.

I guess the implication is that you have to report foreign assets specifically because it’s not easy for the IRS to obtain records from foreign financial institutions. Since it’s also not easy for them to obtain records from a decentralized crypto-currency then the same justification exists for adding these to a list of things you must report.

How do implications work? Are there lawsuits that have set a precedence?

Implications can explain lawmakers actions and encourage said lawmakers to think about revisions to laws in the future. The article was about a proposed law. If X is similar to Y in some way, and X is treated by the law in a well-defined way, then a lawmaker might consider treating Y similar to how the law treats X.

Re: US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

#187

Post by Taniwha »

Tyrannosaur wrote: post #143
Taniwha wrote: post #134

Earlier quoted context omitted.

Yes, but where does the blockchain exist?

...on my hard drive? If I am running a node, that is.

And so it may be bound by your country's laws, and by the laws of all the other countries where it also exists on hard drives, even if they are contradictory, it's potentially a legal nightmare. The current official bitcoin position on this appears to be to stick one's fingers in one's ears an go "La la la I can't hear you"
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