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March 24, 2019, 08:43:12 PM
Merited by vapourminer (2), VB1001 (1)

If you wanna say "Hi" to CSW, he's here :

https://bitcointalk.org/index.php?topic=5120026

Well, I don't know who else would pay that much for an empty wallet... Seems like a bit of a dumb plan, though. Archived in case the post is deleted.

If you had lots of dodgy bitcoins.

A wallet that mined 300 bitcoins in the old days could be a viable "source" when explaining them at cash out


right?



proving the legitimacy of my coins...



I understand the reasoning, but we shouldn't have to, otherwise btc usefulness would be diminished.


If you ever plan to cash out some hundreds of thousands dollars or even just a few tens of thousands you better be able to prove the legal origin of it (if/when required to do so). Bonus if you can prove and track the entire history of it.

It's basically the same with EVERY asset. Ie: Suppose your father has some expensive Van Gogh. He, instead of donating you some (huge) money decides to just give it to you so that you can sell it for a huge amount of banking fiat in a Sotheby's auction and set you for life. But neither of you two declare the donation not pay the taxes (obviously). -> REKT!

Well, the same happens with Bitcoin. You need to prove how you obtained them, and when. You need to prove you didn't sold them previously and not pay due taxes. You need to pay your taxes.

And it is the same with cash.... it is just that in small quantities you can just USE it for daily expenses, etc... But you can't go use it to buy a home, a car, or anything "expensive" without having to prove the full trace of it.

For small quantities there's not much need to care though.