So Bitcoins aren't a get-out-of-taxes-free card. Isn't that it's primary practical draw? What volume of Bitcoin transactions involve black-market activity?
Bitcoin have different facets. For people leaving in places with a variety of banking choice, some of them may come unnoticed.
Bitcoin is great when:
1. You want to accept or make payments from a country where CC fraud is high or banking is rare/expensive.
2. You worry about high inflation rates in your home currency, and your government creates a lot of obstacles to move your money to other currencies (like today in Argentina).
3. Or you want transact in a grey market tax-free. E.g. a guy selling his IT consulting services.
Comments
So Bitcoins aren't a get-out-of-taxes-free card. Isn't that it's primary practical draw? What volume of Bitcoin transactions involve black-market activity?
Bitcoin have different facets. For people leaving in places with a variety of banking choice, some of them may come unnoticed.
Bitcoin is great when:
1. You want to accept or make payments from a country where CC fraud is high or banking is rare/expensive.
2. You worry about high inflation rates in your home currency, and your government creates a lot of obstacles to move your money to other currencies (like today in Argentina).
3. Or you want transact in a grey market tax-free. E.g. a guy selling his IT consulting services.