Paranoia? My accurate depiction of doing business in the US? My joking reference to drones in Romania?
My understanding of capital gains in that you are only required to report it when you cash out. I don't know about you but I have no intention of trading my BTS for USD.
Please update your information. Capital gains have nothing to do with cashing out into USD. If you trade your Bitshares for anything, even if it's for Bitcoin, you must pay capital gains on every trade you make. If you spend Bitcoin after the price has gone up you must pay capital gains on that as well.
Transactions within the Bitshares network itself you don't pay capital gains on because those are all Bitshares and it's more like gambling. Instead it will be income taxes if you spend your BitUSD because that BitUSD did not come from the aether, it came from profit you made speculating within the Bitshares network.
Of course everyone should obey the armed thugs to the extent required to prevent them from being a victim of their state sanctioned violence. You should almost always do what the man with the gun to your head says.
Yeah, basically. I'm not saying I like the idea that we have to be taxed but it is what it is. Pay the man or else is the way the law is written.
Transparency? really buddy? I suggest everyone keep only the absolutely required records (perhaps legally required would be a better way of stating it)
The more transparency we have in terms of records and how Bitshares works as a network the less likely it is that Bitshares will be made illegal. The more likely it is we will be able to keep our profits and stay out of jail.
Even what you have to keep, or your communication. Encrypt everything. I take great solace in the fact that if the bastards want to look at the baby pictures I send my family they are going to have to waste the time and money decrypting it.
I agree with this. If you have sensitive information which does not belong to you then encrypt it. If it belongs to you and is valuable then encrypt it. That means encrypt your wallet and of course Keyhotee is something you might want to use.
Now of course I don't suggest anybody disobey the armed thugs, that would just be stupid. They have trained murderers on their payroll that honestly believe they have the right to kill you if you don't respect their authoritie, and I'm the sap that feels absolutely terrible if a possum or a bunny rabbit runs out in front of my car.
If you want to keep your money and your freedom a compromise must be made. Paying taxes isn't that big of a deal. Of course it would be helpful if the IRS actually told the cryptocurrency community what taxes to pay.
It seems they are more interested in putting drug dealers and others in jail than helping people to pay their taxes. I say the same about the SEC which would rather go after Satoshi dice than finalize their crowd funding legislation?
If the SEC wanted people to obey the law they'd finalize the law so people can abide by it rather than keep everything in a grey area. If the IRS wanted everyone to pay taxes they would give some guidance so there is no confusion.
When everyone must hire a lawyer just to use Bitcoin that is good for lawyers because that is money out of our pocket, it's also good for accountants because we have to hire them, it's good for law enforcement because they can arrest us under any pretext.
But it does not keep investors safe. It does not actually encourage innovation or improve the economy to have contrived legal ambiguity.