Mallard Beakman on Nostr: This is where bitcoin's poor privacy properties become problematic. To renounce your ...
This is where bitcoin's poor privacy properties become problematic.
To renounce your US citizenship, you have to pay a tax on everything you own.
And because bitcoin is an open and transparent ledger, the gov't can more easily prove you owned BTC you failed to pay taxes on.
Published at
2024-04-30 22:01:46Event JSON
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"content": "This is where bitcoin's poor privacy properties become problematic.\n\nTo renounce your US citizenship, you have to pay a tax on everything you own.\n\nAnd because bitcoin is an open and transparent ledger, the gov't can more easily prove you owned BTC you failed to pay taxes on. https://image.nostr.build/a4f651561a80bc733213937f447e93564e9dbbde6a6fe0a3811c247924cf0435.jpg",
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