Will my plan to pay zero tax on my Bitcoin work?
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I currently live in the US and hold a few Bitcoins. I’m planning to hold that Bitcoin for the next 10-12 years. After that assuming it becomes worth a lot, I would like to withdraw my Bitcoin but don’t want to pay tax on it. I’m planning to become a resident or hopefully a citizen in a tax safe haven country. I understand that if I’m a US tax resident or a citizen that I’ll have to pay uncle Sam no matter where I go, so I’ll simply renounce my US citizenship. Would this work? I believe taxation is theft and my Bitcoin by the time I cash out will probably be worth millions. I don’t want the IRS to get their nasty hands on my retirement money.
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