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Originally Posted by Rusty
From what I read. The gov't just has to follow the transactions. They will have no problem with that.
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They can follow the transactions all they want. What they have to do is associate the transaction with an individual. Right now I'm sure it would be easy for the government to do so because bitcoin users know they aren't doing so just yet. Once they do start trying to tax bitcoins, the transactions will start going through different channels to avoid government oversight. Eventually it may have to go underground completely, but it is likely the bitcoin economy online is sufficient enough to survive in an isolated environment; there's a lot of stuff you can purchase anonymously with bitcoins. Or they'll just use currencies outside the US government's jurisdiction. It's not hard to convert foreign currency to US cash without the government's knowledge of who the money belongs to.