Major problem: converting from crypto to fiat results not only in transaction fees, but also taxes of capital gains when you cash out. Failing to report these, in the exact amounts, risks illegality etc.
Other problem: In many countries, you now have to disclose the mere posession of crypto on your tax documents. So you could somehow get supercomputers or a botnet & mine and send the crypto to orgs without any fiat transfers, and still be in tax problems at the end of the year anyway.
celebratedrecluse wrote (edited )
Major problem: converting from crypto to fiat results not only in transaction fees, but also taxes of capital gains when you cash out. Failing to report these, in the exact amounts, risks illegality etc.
Other problem: In many countries, you now have to disclose the mere posession of crypto on your tax documents. So you could somehow get supercomputers or a botnet & mine and send the crypto to orgs without any fiat transfers, and still be in tax problems at the end of the year anyway.