How do providers report their money?

[Kevin Slater]

12 minutes ago, Simon Suraci said:

The IRS requires you to report holdings in cryptocurrencies. You can lie about your crypto holdings, but the government can easily find out what you hold once you are being audited, or if law enforcement has a warrant. They may not get you this tax year, or even next, but they will eventually. If you’re flagged for any reason, the IRS can track it down and penalize you for not reporting or paying taxes.

The block chain is only quasi anonymous at best, when nobody is investigating you. When you are a person of interest, your transactions are as public as a street sign, and your actions are recorded longer and clearer than any traffic cam. Those transactions can be linked back to you. A street sign you can destroy, deface, or steal. You can’t erase or obscure the digital ledger.

Cash is king.

Technically, the IRS doesn't require one to report holding crypto.  Getting paid in crypto or disposing of it is a taxable event, but purchasing and or holding it is not.

Kevin Slater

[+ ThroatCummer]

54 minutes ago, Simon Suraci said:

The IRS requires you to report holdings in cryptocurrencies. You can lie about your crypto holdings, but the government can easily find out what you hold once you are being audited, or if law enforcement has a warrant. They may not get you this tax year, or even next, but they will eventually. If you’re flagged for any reason, the IRS can track it down and penalize you for not reporting or paying taxes.

The block chain is only quasi anonymous at best, when nobody is investigating you. When you are a person of interest, your transactions are as public as a street sign, and your actions are recorded longer and clearer than any traffic cam. Those transactions can be linked back to you. A street sign you can destroy, deface, or steal. You can’t erase or obscure the digital ledger.

Cash is king.

You seem to know a lot about this. 😎

I have a bookmark and login for both Chainalysis and CipherTrace sitting right here next to me. Both are insanely expensive and you have to be vetted to even get a discussion going with these two companies. Both are the ones used by the IRS, DHS, and FBI. It's what my company does. I'm in this space and probably know more about crypto than anyone on here, but you seem to have a solid grasp on everything based on your reply.

But still, you'd be fucking floored by what you can see. Imagine if you could track the real-time moment of every hundred-dollar bill serial number in existence. I'd share a screenshot if there wasn't a risk of someone seeing it and us losing a lot.

I genuinely believe that's why the government even entertains the thought of crypto being a thing. It's vastly superior to cash when it comes down to surveillance. lol 

Edited February 26, 2023 by ThroatCummer

[Kevin Slater]

There is a thread about crypto here.  We should keep this thread on the subject of escorts reporting their earnings.

Kevin Slater (qua admin)