I lack the crypto knowledge to say. I’ve heard Null advocating getting into Bitcoin by asking for it as payment for services and shit rather than using an exchange.
OnlyFans treats its thots as independent contractors and accordingly issues Forms 1099-NEC to any thot bringing in more than $600 per year. That form is also CC’d to the IRS with the thot’s social security number on it. Anyone paying independent contractors has to do this. Hell, if you win more than a few hundred at once at a casino they’re not allowed to give you jack shit until they have your SSN and a copy of your driver’s license so they can issue you a W-2G on the spot, a copy of which is of course immediately sent to the IRS.
Monero is the main one.
Dude joins a month ago to let people know that cryptocurrency is the same as cashless fiat. Fucking bonkers.
On second read, this does come across as "How do you do fellow bitcoiners."
Take out a shitload of student loan debt and use it to get Bernie Sanders elected so he’ll cancel your student loan debt.
This isn’t even news. The IRS has taxed bitcoin as an investment for years.
A perfectly anonymous and untraceable crypto getting used for every transaction could potentially disrupt the intricate web of reporting requirements and controls that the IRS exerts on banks, employers, brokers, and so on. It’d be like if everyone just paid everybody else cash under the table for everything and stored their cash in safes where the government couldn’t see or grab at it (if you don’t pay your taxes the IRS can literally go to the point of calling your bank and telling them to wire out all your money to Uncle Sam). The IRS would probably come up with something even more draconian in that instance; after all the government has authority to tax “incomes from whatever source derived” as granted by the 16th Amendment.
What’s news is that they’re now demanding user information from bitcoin exchanges so they can pursue people who didn’t report those gains.
To be fair, getting your taxes set up right when dealing with capital gains on crypto is currently much more of a pain in the ass than it is with something like, say, Robinhood stonks. Even if your stonk position is a mix of straddles and box spreads and merges and puts and splits and expirations to the point that it sounds like a work of Lovecraftian orgy snuff fiction, the rules exist and are defined and are complied with by the brokerage firm when they compile your 1099-B. Nowadays you generally don’t need to keep an internal record of the market value of every stonk at the moment of purchase and update it for every instance of fuckery that affects your basis; the 1099-B already has that calculated so it’s just “proceeds minus basis equals gain or loss.”
It’s sorta true though, even if coming from the wrong angle. Cash (physical cash) is extremely fungible and leaves no transaction history. That’s why China is heavily reliant on WePay and soon the digital Yuan. The issue at large with cash is that the whole fiat currency system is fucked through debasement, which is where Bitcoin’s scarcity shines.
Isnt the default state for anyone on this website "seething and bitter?"
