I'm not convinced of that at all.
Yes, I know. I am paying long term capital gains to the IRS
Well, so much for getting rich in secret with bitcoin, that's all I was pointing out.
I am rich in secret. But when I want to cash in, it’s not going to be a secret. Either an exchange will probably report my sale into dollars, or a retailer that accepts bitcoin might. Either way I am better off reporting any realized profits. The long term cap gains tax is pretty low.