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289 sats \ 6 replies \ @OriginalSize 21 May 2023
You have to assume they know or can find out anything that operates under their jurisdiction. This is why you should never KYC.
As for 3rd party bank account info, they may want to use this to trace those p2p trades which involve bank accounts.
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25 sats \ 5 replies \ @TonyGiorgio 22 May 2023
Yes, banking related p2p trades are probably one of the worst ways to acquire bitcoin. Arguably worst than exchanges where millions blend together.
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25 sats \ 2 replies \ @franzap 22 May 2023
I would think it's easier to pressure an exchange to reveal transactions than to do timing analysis on a purchase through Robosats
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25 sats \ 1 reply \ @TonyGiorgio 22 May 2023
You don't need to do timing analysis at all to accuse someone of purchasing or selling bitcoin by looking at their bank account transactions. You realize the IRS operates on guilty till proven innocent right?
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25 sats \ 0 replies \ @franzap 22 May 2023
Not American so I don't know how that IRS mafia operates.
I don't understand how would they know it's a bitcoin purchase? A transfer to a random person is just a probability, could be a farmer at the market. Whereas a transfer to an exchange is certain.
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25 sats \ 1 reply \ @kepford 22 May 2023
Exchanges have to report to the government so I'm not either are much different.
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26 sats \ 0 replies \ @TonyGiorgio 22 May 2023
Well your entire banking history isn't viewable by the IRS by transacting with an exchange. The article above indicates that simply transacting with the "wrong" person allows them to access your bank transactions even if you did nothing wrong.
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59 sats \ 2 replies \ @faithandcredit 21 May 2023
We are so deep in government shit that just imagining a world where people are free is becoming increasingly difficult.
This is why i propose a 100% tax rate, and government provided housing, food and water for everyone. Lets go
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33 sats \ 0 replies \ @kepford 22 May 2023
The era if the state will end. I have zero doubt. Not in my lifetime but it will. Remember, there was a time with the Catholic church ruled most of Europe.
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27 sats \ 0 replies \ @franzap 22 May 2023
Paradoxically this is the fastest way to freedom: governments going very hard on the population
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35 sats \ 0 replies \ @Chep 21 May 2023
IRS - Institutions really suck
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25 sats \ 1 reply \ @joda 21 May 2023
According to Paul Sherman, counsel for the Institute for Justice, a nonprofit public interest law firm, "The Supreme Court’s ruling grants the IRS startlingly broad authority to pry into the financial records of people who may be only remotely connected to a delinquent taxpayer."
"That ruling raises serious Fourth Amendment concerns. Thankfully, the Court stressed that its ruling was narrowly focused on the statutory question before it. In a future case, the Court should address the constitutional limits on the government’s power to demand access to people’s most sensitive financial information."
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26 sats \ 0 replies \ @OriginalSize 21 May 2023
And it's not just about delinquent taxpayers. If they think you have money they don't know about, they're going to come calling eventually. Never KYC. Taxes will need to become consumption based and the sooner they see this writing on the wall, the better it is for everyone.
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