re: Bitcoin is Germans

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And again, the issue is: How do they determine you have possession?

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The IRS has agents who follow suspects around and note their spending habits. If you report income that is insufficient to support the lifestyle you are leading expect them to show up on your doorstep.

ETA: Why do you think governments consist of a bunch of incompetent fools? Every weakness that I have pointed out has come to the attention of people in government, and they are much more proficient at exploiting those weaknesses than I am at conceiving exploits.

Do you think that may be a result of the IRS being underfunded? The IRS has said that it could increase compliance with tax laws if it had the ability to audit 3% of tax returns. The actual rates are... LINK.

Department of the Treasury, which is parent of IRS. Congress provides the IRS with resources that do not permit them to audit the 3% of tax returns they desire. Since Congress controls the purse strings, the IRS has to make do with what they get.

Personally I'm glad the audit rate is lower than the IRS desires. I make my living advising people how to lower their tax bills. Any savings I can achieve for them would likely be wiped out by the administrative costs of defending a full blown audit.

Honestly I was very close to buying bit coins. I think these types of coins will be huge for illegal activity. I don't see much legal activity taking place with them. But then I realized that as the technology advances you are likely to have dozens if not hundreds of currencies just like you have today. Why would users be satisfied with bit coins when others out there can offer better products? I think btc are going to zero.

I was kidding with you, Poodle. I would never let H&R Block do my taxes. They hire incompetent people who can't get a real job.

I apologize if you thought I was serious about your services.

Which begs the question, why create a digital bitcoin trail instead of using cash?

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Cash is yucky and has pictures of dead statists on it.....

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fricking Statist bastards

I remember Tom Clausen and his little yellow school bus political signs very well.

In fact I worked with him one suumer when he was still a beginning school teacher and we worked as construction laborers during the summer months. He was trying to earn extra money to supplement his teacher's pay and I was working during the summer before my sophomore year in high school to save for college.

This probably won't surprise you but Tom came to work hung over many times. One morning when the water coolers were late being delivered at the job site, Tom was so desperate for hangover relief he actually started eating Alka-Seltzer tablets without any water. He started foaming at the mouth like a rabid dog. True story.

ETA: I just googled Tom Clausen and learned you & I are probably referring to two different Tom Clausens. I was referring to Dr. Tom Clausen who was the elected Superintendent of Education in Louisiana at one time and you are probably referring to the Tom Clausen who was CEO of Bank of America. Right?

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you are probably referring to the Tom Clausen who was CEO of Bank of America. Right?

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Yep. He was giving away millions of dollars worth of BofA stock annually. Lot's of them came from non-qualified stock options, so he had some interesting issues being a California resident. My Tom Clausen never had to supplement his income with a second job that I was aware of.

I bill by the hour.