bitcoin miners?   i bet some of them make up that stuff. even though technically their cost basis is zero since they didn't pay for it.

but yeah i can confirm they do that. like if someone is trading stocks, they can mistakenly recklessly carelessly treat your cost basis as 0, why i'm not exactly sure but it happens. and pretend like you owe them an ungodly amount of money in capital gains taxes. and send you a demand letter to pay it. imagine if someone paid it. the IRS wouldn't say a thing they would just collect the money and move on...

and thats the rub im talking about.. to declare a loss to legally avoid/lessen your tax exposure, you have to show the proof of the 'buy high' origins and the 'sell low' receipt to then declare that loss

if you cant declare the original "buy high" then you cant declare the sell as a loss

Probably the most retarded bill against bitcoin, good luck monitoring all of the addresses here and there because there's bound to be millions of them and I don't think that they'll have the machine and the manpower to analyze all of this, they're basically creating some really weird legislation that doesn't really help anyone, it's probably going to make things much worse for everyone involved which are the US citizens that's also invested in bitcoin. I would love to know the reason behind the passing of this, I want to understand their thinking because right now, it's unhinged in my opinion, no drop of reason whatsoever.

Why is financial Privacy a non accepted social norm to you?  I heard of so many people around me holding their stash in Cash instead of Banks for Privacy reasons, does this sound like a thing only Criminals do?  Should they be suspected of crime for that?

You do you.  But stop enforcing your thoughts against our lives and choices simply because we want to have Privacy, it is very ridiculous and frustrating.  I never accused you of doing any shit with your Card money or unmixed Bitcoin, why do you portray all Privacy oriented Bitcoin users into the same category of Money Launderers or Criminals?

In a world where Cyber attacks are at the highest recorded level of occurrence AND interest for Criminals, not having Privacy may prove crucial to your own safety.  If you do not use Mixers or other Privacy enhancing tools and you own a decent stash of Bitcoin, it is enough to not pay the right attention ONCE and it could expose information you may not want to be exposed.

You want to support a local store that accepts Bitcoin by ordering from their website and paying in Bitcoin.  You pay there and years later you simply forget about the Change from that Transaction.  You use the Change along a chunk of your stash.  Before you know, the local store had been attacked and their data base stolen.  Some stranger now has the data base of the customers, their Addresses and what they purchased too.  It is a matter of time before they link the change of your Transaction to your stash of Bitcoin.  By the time you realize that, it may be too late.  Some body knows the person living there likely has a lot of Money.  You could be wrench attacked at any given time.  You could be tortured for your stash, like others have been in the past years.

Now imagine how likely it is for some body who OFTEN pays in Bitcoin at multiple stores or Service providers.

Hell.  Pretty much every body who has used Bitcoin in the past ten years has been Dust Attacked at least once.  It could lead to that exact scenario.  Or, remember the Ledger data base leak?  Or the time when random Ledger users got a suspicious 'free Ledger' in their post box?

If you want to be the fool who gets wrench attacked, go ahead.  I am not going to be the one who has to fear for their life out of a stupid mistake.

Did you ever use a Password on your phone screen so others can not mess around with it?  Do you have any phone conversation you would rather keep Private?  Do you close the curtains when you walk around naked or when you are having sex?  Do you ever use Cash just because?  Do you lock the bathroom stall door when pooping so others would not accidentally open it?  Do you ever abstain from talking about health problems regarding any part of your body because you want that to stay Private?  Have you ever closed curtains due to Privacy invasive neighbors?

If you answered Yes to any of the above, why?  Are you hiding something from the world?  Maybe you are a Terrorist in the making even!

Let’s just tell them to fuck off by not using any of the centralized services that pay taxes to the government. It seems they’ll overregulate crypto to the point to make it unusable. At this point not complying is the only way to move forward.

Do only p2p sales with crypto like it is 2012. The gov doesn’t need to know. These retards will lose so much tax revenue because of this.

you dont NEED privacy. you can WANT and CHOOSE privacy but a NEED is different

much like people dont NEED the opposite. people dont NEED to tell you their full name and latest banking transactions
its not "privacy" to not reveal full name and latest bank statement, its just doing my own thing unintruded

you cant say one thing needs reinforcing due to the opposite will occur otherwise
even without layers of privacy people dont then need to reveal their biography

you pretending without "privacy" peoples whole lives are available is untrue
people without structured privacy still have the choice and desire of what they reveal or not reveal

mixing is not a 100% guarantee of privacy neither, infact it makes you more noticeable to the entities you wish to hide from, yes it may take them more time and effort to undo your efforts of hiding, but mixing is not a 100% guaranteed evasion method

i personally dont use mixers yet no one knows my real birth certified name or where my main stash of coin is.
so pretending people NEED a mixer, is different from those who CHOOSE or WANT to use a mixer for their personal reasons

i dont need a mixer to prevent revelations of my personal life. i choose what information i reveal

go cry that your income from mixing has disapeared in 2024
all you are interested in is promoting mixing for income.. even if it causes negative issues for others
you dont care about peoples actual privacy
and you definitely dont care about the consequences of people using mixing

yep mixing does not 100% guarantee privacy. nor does it absolve mixer users and coordinators of consequence
but you dont care, you will remain ignorant as long as you can advertise a scheme that pays you. you wont care about consequences to users nor how you pretend to promote it (with lies)

..

any way
this topics OP did not research what is actually being wrote by congress.. instead its a link to some click bait misrepresentation to cause controversy about somethings thats not even accurate..

tumbling has already been a red flag in fincen's/fatf's eyes of suspicious activity linked to suspicion of mixing.. which is a trigger rated event to highlight the possibility of mixing which is then a trigger of rating threshold of possibility of laundering

by combining a couple trigger events of lower certain suspicious rated activity that lead the mid level suspicion of mixing.
(by defining 2 separate events as equal to being the same as mixing.. is just formalising things they already did)

..

if people really want to learn the traps monitoring services use, its probably best to learn their tricks from actual sources to know how they operate to then know how to work around/avoid them.. instead of just crying that some mis representing blog poster said something that got you emotional thats not even accurate to the "privacy traps"

Can't help but notice it's usually the same predictable names attacking privacy.  The same ones who often seem to advocate restrictions on freedom in response to just about any subject.  Such people hate freedom and privacy in equal measure.  They feel compelled to attack what they cannot control.  They aren't like us.

Authoritarians will always lose here.  Pay them no mind.

As much as I don't like certain laws, I'm not comfortable with (the potential consequences of) breaking them.

If that involves a bank account, it raises even more questions than using a centralized exchange.

So you don't NEED a basic human right but you WANT it anyway? What's with the semantics?

So, assuming the insanity mentioned by OP is applied to your jurisdiction, would you be okay to tell your government all your Bitcoin addresses, and from now on only use one address registered in your name? Or would you choose to become an outlaw?

Exactly!

Fix your quote, you're not responding to my post.

Embarrassing would be the last adjective I'd use, but so be it, if you want. You want privacy, because it's none of our business what you're doing with your money. Same goes for "honest people" who mix their coins.

Or... You know, obfuscate your Bitcoin activity. That's "something to protect yourself".

Article 12 from Universal Declaration of Human Rights:

So, here's my truth: I don't need laws to protect my privacy. I can simply practice it myself.