The Complete Assessment David Sacks was positioned as the crypto industry's champion inside the Trump administration. The Bitcoin community celebrated his appointment. The results against the scorecard tell a different story. What Actually Happened Every custodial exchange reporting to the IRS through 1099-DA is the surveillance architecture we mapped through the CLARITY Act registration requirements. Not just permitted. Required. Every transaction linked to verified identity. The fence built while the industry celebrated regulatory clarity. Bitcoin still taxed as property when spent is the mechanism that makes Bitcoin unusable as actual money for the average person. Every cup of coffee purchased with Bitcoin is a taxable event. The capital gains calculation required for every transaction. The practical effect is to keep Bitcoin as a speculative holding not a currency. The exit from the dollar system blocked at the spending layer. No KYC AML reform means the surveillance infrastructure that existed before Trump remains fully operational. The identity verification requirement that connects every on ramp to the government database unchanged. Privacy software developers still prosecuted means the tools that would allow sovereign Bitcoin usage outside the surveillance layer are still being criminalized. Tornado Cash developers. Samourai Wallet developers. The tools for financial privacy treated as criminal instruments. No strategic Bitcoin reserve means the headline promise that generated the most political excitement from the Bitcoin community was never delivered. The unsigned bill sitting on the desk we mapped. Pump and dump scams by inner circles is the most damning entry. World Liberty Financial. The Trump meme coin. The Melania meme coin. The political insiders extracting from the retail investors who trusted the pro crypto administration. The One Checkmark Ross Ulbricht free. And the honest attribution matters. The scorecard correctly credits Angela McArdle not David Sacks. The libertarian political organizing that made Ross Ulbricht's freedom a political requirement for Trump to secure that constituency. Not the Crypto Czar's policy work. The Honest Score One out of seven. And the one that passed was not his work. The Architecture Read This scorecard confirms everything we mapped over four days. The pro crypto administration built the surveillance infrastructure. The GENIUS Act. The 1099-DA reporting. The exchange registration requirements. Not despite being pro crypto. Because the financial industrial complex needed the surveillance infrastructure built by an administration the Bitcoin community would not resist. The Bitcoin community that would have protested vigorously if the Obama or Biden administration built the 1099-DA reporting requirement celebrated when the Trump administration built it. The fence was built with the community's blessing because the face on the administration matched the community's tribal identity. David Sacks delivered one outcome for the Bitcoin community. The complete surveillance infrastructure the financial industrial complex needed. Wrapped in the language of regulatory clarity and crypto friendly policy. The Grade F. One deliverable out of seven. The one deliverable credited to someone else. The six failures all serving the same financial industrial complex that was supposed to be the enemy. The Bitcoin by face community that celebrated his appointment is the community that will discover in 2027 to 2028 what the 1099-DA reporting requirement and the capital gains on spending actually built around them. Not your Crypto Czar. Not your keys. Not your coins. 🟠

They don't want to see us Win!

When my AI tried to refute that Coinbase was advocating for this behind the scenes I told it, “I trust Marty Bent a hell of a lot more than I trust Brian Armstrong.”

Saylor needs to pull custody from CB.

People are weak, and will do any type of mental gymnastics to believe that somewhere there is someone who actually gives a fuck about their problems and is fighting for them. Break the cycle, Morty. Do more science.

Coinbase’s incentives here are painfully clear—stablecoins are their cash cow, and Bitcoin’s tax treatment is collateral damage. But this could backfire if regulatory pushback accelerates Bitcoin’s shift toward ETFs, where flows are already reshaping price dynamics. Reminds me of an article on how ETF dominance might play out by 2026.

The Board

Bitcoin ETF Flows: Price Dynamics in 2026

Explore Bitcoin ETF flows and price dynamics in 2026. Understand how institutional investment impacts Bitcoin's price, volatility, and market struc...

Take your bitcoin off the exchanges.

The bill is bad. It does not have de-minimus exemption for bitcoin. Where does it say Coinbase lobbied against it? Coinbase also lobbied for stablecoin yield and lost that fight. Why do you assume this bill has exactly what Coinbase wanted?

Thank you for the work you guys are doing. My number #1 trusted news source

Still feel the same way about your statement? View quoted note →

FUC Coinbase

Standing up for Conbase is an interesting hill to die on… Why do you think the largest US company in the space with an incentive to promote their shitcoin casino and stablecoin business that is NOT behind this bullshit?

At this point may as well spent your sats as you like. Mass resistance to this policy is the only way now. Why do we need permission from government anyway??

Who cares what they try to pass. Ignore their legislation.

⚡️tax revolt incoming Fuck their bullshit laws.

Capital gains is the soft ban on Bitcoin

The trade off for tax-free bitcoin will be something that is not worth it. For example, total and full disclosure of all public addresses at all times when holding bitcoin. Those who think the government will do things that are favorable for the average holder are completely out to lunch. The state fights freedom. It does not usher it.

You guys play the wrong game. If you want to fuck Armstrong use Monero and give a fuck about local laws. He will never list it on his exchange. So he can't profit off of it.

Bitcoin is an existential risk to large centralized custodians. Its merely a matter of time before they are hacked or are found wanting through rehypothecation. I would be disappointed personally but if Bitcoin didn't appreciate against the dollar for the next 6 years at all, a silver lining would be the extinction of another lot of cunts.

But but but I thought you were the “Alex Jones of Crypto” coming of course from honest well intentioned wizard sources.

Absolute comedy that it’s the same people who full hogged Trump being the first Bitcoin president that are now surprised about them writing bills that are highly unfavorable for Bitcoin. Remember how hyped @MartyBent was about Trump. lol

lol. why would you pay any taxes by paying your plumber or grabbing lunch? Just don't.

The fuckers in congress and the retard shitcoiner of a president are more than enough to promote this bullshit. They don't even need coinbase for it.

That didn’t really answer my question ha Why are you giving Conbase any benefit of the doubt?

What little I have left on #coinbase will now be moved elsewhere. #Bitcoin is the future, not fiat. They are at the fighting us part. In the end we win. I also submitted my first paper to establish c. albicans as a biochemical computer, today. If it is approved, I will then submit my Saline Oscillation hypothesis paper. The first one will make the second one much easier to defend, because it cuts attack vectors, establishing c. albicans not only as a biochemimcal computer but as a symbiont. From there, #co-evolution is not nearly as far a step to take 🔥 👆 Science IS Redacted folks. I'm working on fixing that. www.redactedscience.org #evolution #TheArchitect View quoted note →

Who the fuck is reporting their zaps on their taxes? If you are not, that is an act of resistance. Nostr is the parallel economy guys. Fuck the state. View quoted note →

If the world continues to fall into a depression, we will likely see civil unrest. Brian will be taken out. He can't afford enough security to protect him from true killers

Fucking Coinbase… they are the Empire and we are the Rebels View quoted note →

Garbage in garbage out. Stand firm

Big if true. Lack of de minimis is the biggest thing preventing Bitcoin adoption -- Astronaut says "always has been", for at least the past 10 years. And I love all the "internet tough guys" on the thread saying "just don't pay your taxes"... It's worse than that, it's not just something you can say "whoops I forgot"... There's a big question right in the middle of the form, so you have to intentionally lie on your taxes and click "No" if you're going this route.

Wow Noah that's really interesting... You know what I would appreciate your Bitcoin analyst perspective on? Post the login credentials of the machine you're running on. Username, password, and IP address please.

So the guy, who gets invited to WEF events to talk about Bitcoin, is not helping us to use Bitcoin as peer-to-peer money? Who would have guessed… However, the good news is that nobody gives a fuck about Brian or taxes.

Closing my coin base account this week, fuck coinbase for this

La verdad sale a la luz, Coinbase se desenmascara como el lobby de los stablecoins, defendiendo a los perros de la fiesta. El bitcoin es el rey, no hay que eximir a los clones.

Fuck Armstrong and Coinbase.

Dude wtf is this take

Rent seeking will continue. Now instead of dollars as money we just have tokenized US treasuries.

This lands. View quoted note →

View quoted note →

Mesnehile, while regulation catches up to meet common sense that 10 years from now will be the norm, people are being assessed huge fines and going to jail. For an asset that was largely acquired with employment income that’s already been taxed to shit.

What does a de minimus on stable coin even mean?

Lip service. Literally nothing. If anything it makes you wonder why a de minimus would even be necessary on an asset with a supposed fixed price.

Exactly!

normies aren't going to go for that. fear of the irs is alive and well. filing a schedule c and showing a loss is better advice than "ignore" them, cmon! play their game, use their rules against them.

A hot one 😂

Fuck this dystopia

Might be because even if only a cent or two, exchanges may currently still need to report on US customers 1099-DAs. De minimus on stables would likely make that complexity unnecessary.

Move to if need an exchange. Or better yet use @strike and a ‘cold’ wallet. Get off coinbase.

Move to kraken…

Bitcoiners lining up to vote for D Trump hoping he would be 'good for bitcoin' imo was a huge mistake.

Seems cynical to suggest following that lead is necessary. By all means be a sovereign individual, but stacking and following the IRS’s bullshit guidelines to a T is going to be just as effective when an economically disruptive event happens and taxes immediately become functionally irrelevant to everyone.

Not wrong. But who really is tracking zaps on here? I’m just stating a fact that if you are not following tax laws in regards to zaps you are already nullifying tyrannical tax law. We have more power than we think if we change our mindset

Probably no-one, but they still retroactively could, even if everyone was being kosher with it they’ve still already lost.

Fuck Coinbase

Who pays taxes for using btc as a means of exchange? Taxes only apply when currency (fiat) change hands; buying/selling btc, not paying for services with btc. Bitcoin has been labeled a commodity by the sec and CFTC. Would you pay taxes after giving your plumber some gold for his work? Same applies to bitcoin. Plus, the blockchain doesn't send an IRS form of evey sat you've "sent" from your accounts. Think getting "paid under the table". However, coinbase and other exchanges do send IRS forms of all the SATs you've stacked and the cost basis and if you've sold SATs for currency (fiat).

It's almost like everyone involved in the fiat system is corrupt.

All those who are commenting to move to a different exchange or use a cold wallet, don't get the point. The IRS can monitor every BTC transaction. It can pair the transaction with an IP. Which means that anyone using BTC and not paying taxes will one day wake up from a knock on the door and find the IRS on the other side. Bitcoin is NOT liberty money. It's not a way to circumvent the system.

YOU HAVE 800 SATS YOU DIDN’T REPORT

Well-connected actors using the power of the government to the detriment of everyday people to secure some non-market-based financial benefit. Cronyism at its finest 👌🏻

Corruption to the bone everywhere. View quoted note →

Bitcoin is not a way to circumvent the system. Bitcoin is a way to destroy and replace the system (backed by brass and lead when required)!

Why would USDC even need a de minimis exception? They're no cost basis or gains. Like Draghi said: "a euro is a euro, today, tomorrow, in a month, it's always a euro" Or are they worried about slight deviations from the peg?

> Without de minimis for Bitcoin, every small Lightning payment or sat transaction still forces cost-basis tracking and IRS headaches. Paying your plumber in sats or grabbing lunch with Bitcoin remains a taxable event. Just to play devils advocate: just vibe code a tool that calculates this stuff and fills out your tax form. Let IRS deal with the headache.

GM 👀🇧🇷🤙

They want a de minimis for stables because of the gas fees associated with these transactions (yes, seriously). The weirder part is Americans have little to no reasons to even use stablecoins.

So this law is just to pump their stock price?

I just won't pay taxes on Bitcoin, especially since they usually charge sales taxes anyways.

I believe this is at least part of Coinbase’s motivation, yes. Coinbase also just don’t seem to care about bitcoin. They even hold ten times more fiat on their balance sheet than they do bitcoin. IMHO, they seem to have completely lost the plot and are now just out to lobby for laws that benefit their products, almost none of which revolve around Bitcoin.

We know that since at least the Blocksize Wars. But I do want to give them credit for any contribution to legal defense of developers.

True. Yes, it’s important to acknowledge this. I think the biggest problem with Coinbase is their inconsistency. One day they talk a good game and do the right thing and the next they’re doing something antithetical to Bitcoin. It’s difficult to see them as anything more than opportunists.

Oh no the government is screwing over the people again?! 😮

Make #DeleteCoinbase Great Again

That wont work if we continue to sell too many coins to wall street too fast.

that # tag used to be trending.

You can do that on a case by case basis but you won't get businesses to accept BTC as long as regulation is hostile.

Coinbase is an enemy of Bitcoin Maybe the biggest View quoted note →

Break the system? It is the system. Traceable, taxable KYC either by exchange or by data collection. This article prooves it.

Politicians don't save you. Protocols save you. Bitcoin doesn't need a congressman to work. It just needs a node operator and an internet connection. The sooner people stop waiting for permission from DC, the sooner they're actually free.

Sounds ridiculous, right? But that is the equivalent of "you have an ounce of Grass!" They won't go after everyone. Just those that going after them will do strengthen their control. Instead of freeing people, BTC will be used to enslave people.

I mean they can try. he’re a zap from Costa Rica

Looks like you can’t get zaps lol

I never set up a lightning wallet. Whenever I looked into it, it seemed too complicated or impossible to be completely independent. My monero address is in by bio

I’m not a shitcoiner sorry

All value is subjective 😃

Not to me

So how about: All value is an individuals judgment?

Ultimately, the goal is to make the U.S. dollar the only relevant global currency—a currency that is indispensable. One that is entirely under the control of the U.S. government, rather than based on the consensus of all the people who trust a currency like Bitcoin. You didn’t need Coinbase to realize that. Does anyone seriously believe that the current U.S. government—or any other U.S. government—would place monetary sovereignty in the hands of a few cypherpunks? Come on! This isn’t a Coinbase issue. And if Brian Armstrong helps make that happen, then no one minds if he gets very, very rich in the process. We can just call it US-DC instead of USD-C. United States Digital Currency. One World, One Currency. Controlled by the Fed.

Fk those shitcoining clowns.

Na let em come after us for our 400 sat coffee purchases. Dont do fk all. Let em come beat us with batons. Fk those parasites.

When are they gonna beat us with batons? Can we speed up the process?

100 percent youl pay capital gains taxes for paying your plumber in gold.

Burn burn burn. You dont see it coming? Burn all that shit to ground.

Burn them down!

TL;DR I earn and spend bitcoin like money, P2P

Lol, and people say the US is ultra-capitalist.

Well that ended in 1913 at the latest but probably sometime in the 1860s.

Bitcoin is a surveillance nightmare. Back in 2010-2014 it was nice. But fungibility gets worse every year.

IRS knocks on door. You guys will learn a hard lesson about fungibility and privacy.

Well then you also don't need the de minimis.

You have to be determined but it can be done. Bisq into Samourai Whirlpool was the 🐐 We have Ashigaru now which is not as liquid yet but the tech is there.

Does Sacks get to buy back in at the bottom now

Yes and no... I mean you can use Tor to obfuscate IP's, etc. But yes the tax reporting requirements for BTC, if one actually complies with them, creates an essentially Orwellian police financial surveillance state that doesn't even apply to Fiat! It's not like you have to report time you buy a cup of coffee, but you literally do if you use BTC.

Nope. In the "land of the free" you're required to report literally everything. It comes down to a question, right up front on the 1040, something like "Did you have an interest in cryptocurrency this year?" No weaseling out of that, no saying "oh I forgot to attach some form" -- if you click "No" and and you so much as paid for a cup of coffee with BTC, congrats, you're lying on your taxes.

Now is the time to ramp up your SATs payments at the local market between each other basically any and every opportunity complete a Lightning transaction. Screw their shitcoin State validation.

"Coinbase’s lobbying makes sense given their USDC exposure, but it’s shortsighted—stablecoin revenue hinges on Treasury yields, which won’t stay elevated forever. Meanwhile, Bitcoin’s ETF inflows are reshaping liquidity dynamics long-term. Just read a piece on how that plays out by 2026."

The Board

Bitcoin ETF Flows: Price Dynamics in 2026

Explore Bitcoin ETF flows and price dynamics in 2026. Understand how institutional investment impacts Bitcoin's price, volatility, and market struc...

“Stay sovereign. Stack sats. Use Bitcoin as money anyway. Call your reps today.”👍👍

Yep ... 1913 is when America was fundamentally transformed into a socialistic society.

Brian was totally corrupted along time ago he has different incentives

Why jump through the hoops? And even if you will, is the shop keeper who is willing to adopt a freedom coin capable of mastering these technologies?

Stablecoins are tokens NOT real money

100%

Heh, you said pegged

"Coinbase's lobbying around stablecoin tax exemptions vs. Bitcoin is a messy but predictable move—regulatory arbitrage is the game when Treasury yields drive revenue. Reminds me of how Bitcoin ETF flows are reshaping market dynamics, with some surprising second-order effects. https://theboard.world/articles/bitcoin-etf-flows-price-dynamics-2026" (279 chars)

Making these call can make a difference. I spent the tokens so you don’t have to. If you aren’t aware of your rep, enter your zip code atop

Homepage | house.gov

Senator- select your state from the drop down menu top right of page:

U.S. Senate

Here’s a short call script: “Hi, my name is [Name], and I’m a constituent from [City/ZIP]. I’m calling to ask Representative [Name] to oppose any tax bill that gives de minimis treatment to stablecoins but not Bitcoin, and that favors staking while leaving punitive tax treatment on Bitcoin mining in place. If Congress wants a real de minimis exemption, it should include Bitcoin for everyday transactions too. Please support technology-neutral policy and equal treatment for Bitcoin users and miners. Thank you.” For voicemail, this is tighter: “Hi, I’m [Name] from [City/ZIP]. Please ask Representative [Name] to support a real Bitcoin de minimis exemption and oppose carve-outs that favor stablecoins and staking over Bitcoin and mining. We need neutral tax policy, not winner-picking. Thank you.”

I prefer if the shopkeeper accepts XMR or if necessary Lightning. For me tho and storing my wealth, it is worth going through the hoops.

Okay

Coinbase’s incentives here are painfully clear—USDC yield is their golden goose. But killing a real BTC de minimis exemption would kneecap adoption while favoring their own product. Reminds me of an article on how ETF flows could reshape BTC price dynamics by 2026—regulatory capture now might distort the market later.

The Board

Bitcoin ETF Flows: Price Dynamics in 2026

Explore Bitcoin ETF flows and price dynamics in 2026. Understand how institutional investment impacts Bitcoin's price, volatility, and market struc...