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Author Topic: IRS and Bitcoin  (Read 563 times)

ToTheMoon!

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IRS and Bitcoin
« on: August 28, 2017, 06:52:17 PM »
Interesting article on Cointelegraph about the IRS using chainanalysis tools to crack down on Bitcoin tax cheats.  So are other cryptos next?  Will this push people out of Bitcoin and to some of the alt coins with more secure blockchains like Monero?  Will coins be forced to provide a way to track transactions to the government soon?    Here's the link: https://cointelegraph.com/news/irs-uses-chainalysis-to-track-down-bitcoin-tax-cheats

Zender

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Re: IRS and Bitcoin
« Reply #1 on: December 02, 2017, 05:37:41 PM »
You can trace bitcoin network transfers. Plus, there is free access to this information so anybody could find it. The only problem is that you can trace the wallets but you can't tell whose wallet is whose. If the owner doesn't say who s/he is, nobody will find out.

Zertar

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Re: IRS and Bitcoin
« Reply #2 on: December 23, 2017, 08:07:04 AM »
Yes, I agree , it's possible to track down but only to the wallet. And wallets are usually anonymous and you can't find the owner.

Xeitham

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Re: IRS and Bitcoin
« Reply #3 on: January 28, 2018, 11:43:25 AM »
This is why cryptocurrencies are so popular, you can't identify the person who's sending the coins to a certain adress. It's a huge advantage.

CryptoWalletiraCS

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Re: IRS and Bitcoin
« Reply #4 on: February 07, 2018, 09:01:41 AM »
This kind of security is one of the reasons why i want to invest in bitcoin, but at the same time having my doubts especially whats happening on the market right now

 

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