[Riggs]

Don't do anything illegal so zero fucks are given. Plus I only use it to buy BTC and spend it immediately.

Legitimate transactions with people you've never met could still inadvertently tie you to other BTC addresses that involve BTC being used to finance illicit activities. Circumstantial evidence can still be tactfully deployed against innocent people, including yourself.

Labeling intrusive regulatory powers as a means to investigate anything illegal is a poor excuse to naively surrender the fucks you should give about preserving your anonymity. Striving to maintain the unregulated and decentralised nature of BTC should be important to everyone who engages in use of the BTC economy, even you.

[kivimaki]

Has anyone considered flooding Coinbase with fake accounts and put .000001 or some small BTC amount into each one?

why would anyone put effort into that? to accomplish what?

[Mr.Peanut]

The way I see it, I'm only using these services to buy BTC and never to cash out. You are correct though op, it's pretty sad tbh.

[SIM-3257834]

Legitimate transactions with people you've never met could still inadvertently tie you to other BTC addresses that involve BTC being used to finance illicit activities. Circumstantial evidence can still be tactfully deployed against innocent people, including yourself.

Labeling intrusive regulatory powers as a means to investigate anything illegal is a poor excuse to naively surrender the fucks you should give about preserving your anonymity. Striving to maintain the unregulated and decentralised nature of BTC should be important to everyone who engages in use of the BTC economy, even you.

Until I see the first trial for someone on coinbase receiving "odd funds" it isn't going to be on my to worry list.

[Mr. Robot]

Has anyone considered flooding Coinbase with fake accounts and put .000001 or some small BTC amount into each one?

On it as of now.

Starting a discord and hiring people to do this, Will need someone to create a script for it too.

[Hakai]

Has anyone considered flooding Coinbase with fake accounts and put .000001 or some small BTC amount into each one?

I guess if you've to "validate your identity" that's still possible but harder.

[Digital Plug]

Thanks for this share man useful

[Uriel]

We need another competitor without the aids limits that Coinbase has, man I miss Circle.

Is there another outlet to purchase bitcoin aside from coinbase? I am guessing from your post that there isn't.

[GodlessOlympian]

Is there another outlet to purchase bitcoin aside from coinbase? I am guessing from your post that there isn't.

Like it has been said a thousand times in this section:
LocalBitcoins, Kraken, CoinMama, BTC ATMs in UK/EUROPE, and Exchanges on this site. Out of all of these, I would only recommend LocalBitcoins and CoinMama.

Personally, if you're using BTC to buy DN services/items, then you should buy alt-coins first, use the alt-coin to buy BTC and then buy your illegal goods.
However, if you're using BTC like one uses Forex, then you just pay your taxes and call it a day. I don't understand why people have such anxiety about taxes. You realize there's a ton of ways to make money off your losses with taxes.
People need to start reading tax books.

[minimalist]

Personally, if you're using BTC to buy DN services/items, then you should buy alt-coins first, use the alt-coin to buy BTC and then buy your illegal goods.

And in doing so one would be going through an exchange TWICE. How does that help matters at all?

[ZuGgY]

Using an offline wallet is best, although not always convenient.

[GodlessOlympian]

And in doing so one would be going through an exchange TWICE. How does that help matters at all?

Some alt-coins are easier to buy without verification and then you can use your alt coin to buy btc which doesn't require verification. Thereby, you won't have your face on any platform. It's pretty much the same concept as laundering money.

[Omniscient]

Legitimate transactions with people you've never met could still inadvertently tie you to other BTC addresses that involve BTC being used to finance illicit activities.

EXACTLY. And CB has closed accounts associated with activity from gambling address sites and localbitcoins. Both of which could be completely legitimate transactions and legal. But CB does take action and does close accounts.

I don't understand why people have such anxiety about taxes. You realize there's a ton of ways to make money off your losses with taxes.

Guidance by IRS is iffy at best. Realistically every single BTC transaction has to be recorded as capital gains/loss according to their current guidance. And it's still something that's not really 100% solid either. And many CPA's scratch their heads when it comes to cryptos.

Example is the BTC income I have. First I get it at $X dollars (l33t upgrade $19), but then at some point I convert it to USD. So then I have to record what I obtained that BTC at then record what I exchanged it for as well as all the dates related. And I do hundreds of BTC transactions per month. You're talking a super nightmare to deal with.

The IRS is far behind when it comes to dealing with BTC. The data the IRS from Coinbase is going to be used to make examples of people by punishing them with fines and possibly jail time. It will not be used to enhance compliance as it should be used. Instead it's part of a criminal investigation.

I'd like to see a company come forward with excellent record keeping software for a company like mine. Where I can log transactions and income appropriately for tax time instead of having to keep manual records and printouts from the many exchange methods I use. You should see the stack of papers I have. Walking up to an accountant with it just increases their fee. I'll never be using the 1040EZ again.

[SIM-2501407]

Has anyone considered flooding Coinbase with fake accounts and put .000001 or some small BTC amount into each one?

I will personally pay someone $100 to do this. I will help them raise money for the cause too. 🤝

Guidance by IRS is iffy at best. Realistically every single BTC transaction has to be recorded as capital gains/loss according to their current guidance. And it's still something that's not really 100% solid either. And many CPA's scratch their heads when it comes to cryptos.

Example is the BTC income I have. First I get it at $X dollars (l33t upgrade $19), but then at some point I convert it to USD. So then I have to record what I obtained that BTC at then record what I exchanged it for as well as all the dates related. And I do hundreds of BTC transactions per month. You're talking a super nightmare to deal with.

The IRS is far behind when it comes to dealing with BTC. The data the IRS from Coinbase is going to be used to make examples of people by punishing them with fines and possibly jail time. It will not be used to enhance compliance as it should be used. Instead it's part of a criminal investigation.

I'd like to see a company come forward with excellent record keeping software for a company like mine. Where I can log transactions and income appropriately for tax time instead of having to keep manual records and printouts from the many exchange methods I use. You should see the stack of papers I have. Walking up to an accountant with it just increases their fee. I'll never be using the 1040EZ again.

Hence why Currency Exchangers such as me are scared... I will 100% STOP doing all Currency Exchanges soon for this reason.

Since I used Coinbase to purchase thousands upon thousands of Bitcoin, I can only imagine what they'll do to me.

[Trump_Clinton]

Has anyone considered flooding Coinbase with fake accounts and put .000001 or some small BTC amount into each one?

Not gonna lie i laughed at first but then thought about it... I may contribute a small part of my btc to fuck with the IRS, good idea lmao. Anyways yeah circle basically committed suicide to avoid this. The IRS will come after you if you are making LARGE deposits and withdrawals to your bank. The IRS will not come after you if you are buying large chunks of coin because they cant collect taxes on it. The IRS is there for TAXES and TAXES only, i wouldnt be too paranoid unless you are really moving volume but nevertheless this is a solid point.