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<p>[QUOTE=&quot;Prime Mover, post: 2753648, member: 38783&quot;]Most nations already have laws on the books about Bitcoin and what it is and how to tax it.&nbsp; The US has stated it is not a currency, it is an asset like gold and silver.&nbsp; You are expected to pay capital gains on it just like any other transaction with gold, silver, stocks, etc.</p><p><br /></p><p>If you are planning to evade taxes, you&#039;re going to do it with whatever you have, you&#039;re not going to change your money to Bitcoin just to evade taxes.&nbsp; That would be risky and counter-productive.&nbsp; Besides, cash is the most commonly used form of money to try to avoid paying taxes with, Bitcoin is so low on that comparison scale.</p><p><br /></p><p><br /></p><p>There exist 500, 1000, 10000 and 100000 denomination US bills.&nbsp; They are still legal tender today, if you can find one (hint, check eBay).&nbsp; They were pulled from printing due to low usage, not any nefarious reason.</p><p><br /></p><p>I suggest you check the IRS pages on transaction reporting, as your assumptions are suspect (although I will give you that their wording is slightly confusing):</p><p><br /></p><p><a href="https://www.irs.gov/publications/p1544/ar02.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.irs.gov/publications/p1544/ar02.html" rel="nofollow">https://www.irs.gov/publications/p1544/ar02.html</a></p><p><br /></p><p>A person who wants to evade law enforcement, paying taxes, perform illegal activity, will do so, most frequently with US dollars, not Bitcoin.&nbsp; You are buying into the negative hype and mis-information.[/QUOTE]</p><p><br /></p>

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