With various countries banning and changing their crypto laws regarding taxation and usage people need to think on how they live their lives. The habits of people pasting on Facebook bragging about a new car or a trip overseas. Ok maybe not trips right now with lockdowns but you get my drift of what people do.
For some it is time to go underground and to become more careful in how we do things daily. This I don't think will last for long as this is Governments trying to work out what to do next.
I know many use their real names on Facebook so they are easily found, but what about Twitter and other sites? I have noticed someone on Hive use a traceable name on twitter with their Hive name which could lead the tax man to your door. Not every tax official is an Inspector Clousseau and is a bungling idiot so being smart and careful is the way we should all be. Not that we have done anything wrong yet, but just because we may be making extra funds will have the spotlight on what we do.
Two years ago someone I knew went on holiday and due to his bragging posts on Facebook was charged with tax fraud. I didn't know the ins and outs of the details but all I know was he was fined a massive amount for undeclared earnings.
A quick scan on Google with key words such as tax avoidance and Facebook and there are plenty of posts stating that this is where the Government does some of their research. Saying this then looking for crypto enthusiasts or investors social media would be the obvious place to look.
I know our Nigerian community is under a little pressure right now and posting any photographs of your face right now is not advisable. Face recognition is not some science fiction fantasy as it is real and countries do have it as part of their arsenal.
Staying anonymous is the smart way to play and the only way and why I don't have a Facebook account and never will. Advertising my life on social media is not something I ever plan on doing as I protect my privacy. Humans are strange creatures and being smart is not one of them as habits are hard to stop and change. What certain organizations know about you already from your favorite color to what underpants you wear should not come as a big shock.
Now is the time to become invisible and anonymous as anyone involved in crypto is now seen as a target for extra attention. If Bitcoin was still at $1000 then this would not be the case but crypto is now on the up so this is going to be a rough ride for some.
