First up, I’ve spent some years telling my father that investing in Bitcoin is a good idea. Recently he decided to put some money into it and has concerns that are hard to address:
1. He found this [article](https://www.eff.org/deeplinks/2020/12/us-government-targeting-cryptocurrency-expand-reach-its-financial-surveillance) explaining how Crypto is making it easier to track people. I’ve told him about “boating accidents” and how easy it is to just move Crypto to multiple places the government can never know anything about, but he seems very stuck on this point. He thinks that if the IRS comes knocking then the burden of proof is on HIM to prove he DOESN’T have any crypto…
2. DEX’s. The above article states that the Government could “take actions against [DEX’s]” but that doesn’t quite make sense to me since they are… decentralized… so if I am missing something here please let me know.
3. Moving crypto anonymously across international borders. I’ve told him about how easy this is to do, but if anyone could provide a more solid explanation of different ways to do this ( I know of some but I’m guessing there are many) I would be grateful.
4. Capital gain taxes – This one is so stupid, but he doesn’t want to pay taxes on Capital gains. I’ve tried explaining to him that if his investments do very well (for example- gaining 100,000 and paying 15,000 in taxes is still 85,000 dollars he didn’t have before) it won’t really matter, but he seems illogically stuck on this point.
5. FUD – This is what I worry about most. It seems like he is actively finding all the reasons this won’t work out, and I think that will make him very susceptible to FUD, does anyone have historical FUD examples so I can try to put things into perspective?
Thank you guys!