[Brewcity]

So are they doing this so it's easier to track and tax us? Is this the government's in and way of trying to make sure we pay taxes on bitcoin gains, and possibly make it easier to track what we use bitcoin for....aka, gambling and other things deemed illegal? Hmmm....

https://www.forbes.com/sites/colinharper/2020/05/12/jp-morgan-opens-accounts-for-bitcoin-exchanges--coinbase-and-gemini-up-first/?utm_source=vero&utm_medium=email&utm_content=control&utm_campaign=Global%20Newsletter%20USA%2 03&utm_term=Newsletter&vero_id=1232478&vero_conv=dk4iardqI3L45qNyNgad5N8V-LkQDbwgu7xEeQ2s28oHnAvw-ftkINkHAcco00jelOResYBQnt2o0oMWu1sqdK3AC cCkPt0A#4d3aae4a4026

[habitualwinning]

This is actually a bad thing for bitcoin. JP Morgan is the same bank that spends billions annually to manipulate the silver and gold markets. Silver should be $200 an ounce today but JP floods the market to keep the price below $20 an ounce. Expect them to do whatever they can to manipulate btc also. JP has a long history of being anti anything that rivals the U.S. Petrodollar monopoly. They are literally the bank of oil and they shit on anything that rivals them. If the populous wasn't so stupid and ignorant they'd be burning down Chase banks instead of police stations and 711s.

[MeanPeopleSuck]

Nah, this is just notoriously anti crypto Jamie Morgan's way of admitting he was wrong and that we're here to stay.

And don't worry, this doesn't make it easier to track or tax us. It's just a way of connecting your gemini or coinbase account to your bank account.

If you're thinking, "yeah, but that would track my profits, making them vulnerable to taxation," then it probably means you're only moving money from your bank account to your exchange, making profits there, then moving those profits straight back to your bank account.

That's a mistake, but it's easy to fix: take the crypto profits from your exchange and move them to a private wallet where you can convert the BTC into a completely anonymous crypto then back again.

Don't panic, that sounds a lot harder than it actually is. With experience, you'll be able to do the entire process in 15 minutes for the cost of one or two dollars:

1. Send your BTC to these guys: https://changelly.com/. For reasons you don't care about they've completely supplanted ShapeShift for anonymizing BTC.

2. Convert your BTC into one of the ultra anonymous cryptos, then convert it back to BTC. Changelly supports conversions to Dash Dark and Monero, both of which are excellent privacy cryptos. If it's a LOT of money or if you're naturally paranoid, you can always do something like BTC to Dash Dark to Monero back to BTC.

3. And that's it. You've just anonymized your profits. It would take an FBI level forensic examination conducted by the traitorous, subhuman sellouts at Chainalysis to be able to track the above sequence.

4. STILL worried? Well, OK, even FBI level investigations can be thwarted, but it requires the involvement of gray market sites called BTC mixers. A buddy of mine uses these guys: https://anonymix.io/