What's the problem with it? Ofc taxes must be payed.

This is why you dont take advice from random people on the internet.
Its a collection of know nothings who spout off things they have no business talking about.

Thats why the information age is so dangerous. Back then, people had to do a bit of fact checking before publishing their encyclopedias and magazines and newspapers. Now anyone with a computer can use the internet as a soapbox. Literally taking financial advice from someone who you dont know. You could literally be talking to a dog smashing his keyboard without knowing it.



Bitcoin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash.
- bitcoin.com


Bitcoin is Pseudonymous

Sending and receiving bitcoins is like writing under a pseudonym.

If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.

In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.

In the original whitepaper, it was recommended that Bitcoin users use a new address for each transaction to avoid the transactions being linked to a common owner.

As an additional firewall, a new (address) should be used for each transaction to keep them from being linked to a common owner...
The risk is that if the owner of a (address) is revealed, linking could reveal other transactions that belonged to the same owner.
-Satoshi Nakamoto Inventor, Bitcoin


The ledger is designed to be verifiable as long as the blockchain is alive. Which means if you used bitcoin to do illegal transactions, those transactions will forever be recorded and can never be purged as long as the original blockchain remains. Which means its WORSE than cash money for privacy. Eventually when quantum computing is able to crack modern encryption, you may also be screwed but I believe they are trying to figure a way around that, possibly forking (not up to date on this).

Yeah so, all those people that used btc to do some shady things, well its now recorded forever in history with almost no way of purging it from the blockchain, recorded forever and ever and ever. But anonymity was not its purpose, its just that people that used certain dark places used it because it was fungible, easy to use, and couldnt be charged back and deflationary which meant the more people using and buying it, the greater the value it becomes.


RIP sorry brahs that got frauded by some pleb crypto "expert" if you engaged in anything you dont want anyone to see

Only peer to peer or cash transaction would allow you to obtain bitcoin with fiat without trying to your identity. KYC verification is present at every non P2P exchange.

There is typically a pretty hefty cost premium for doing that, and also some risk involved.

i agree, i guess it's in the middle


all transactions are stored on the blockchain, so in that way it's supposed to establish "trust". you'd be able to look at someones wallet and transactions and see if they are trustworthy

but it's true the wallet isn't really tied to anything. though, you'd still be able to trace it with any interaction. may be a little digging to find who owns what wallet

If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.

lol at not paying an up charge on a dip at a bitcoin atm. last btc i bought from coin base was in 2018. i never verified my id

lol at not paying an up charge on a dip at a bitcoin atm. last btc i bought from coin base was in 2018. i never verified my id