boating accident

A mechanism for claiming a cryptocurrency loss. It was originally a joke made by gun enthusiasts who "sadly lost all of their guns in a tragic boating accident", but has been repurposed by Bitcoiners. It is often used in other contexts - for anything you don’t want the government to know you have.

I would normally have to pay taxes, but "I lost my Bitcoin in a boating accident", so I'm declaring a loss instead.

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