The history of all this bitcoin stuff is with the cypherpunks. I was on the newsletter in the 90's and we all thought that cryptography was to become the great liberator of humanity, or the most terrible thing to happen on the internet. Cryptography is the line between freedom and tyranny.

Had the opposing forces won out cryptography, and therefore privacy, would not exist on the internet. What the cypherpunks did is overwhelm the system before it learned how important the issue was. First napster destroyed the unfair music business. Then wikileaks destroyed the world of secrets. Now bitcoin is taking on the bank cabal. About the time they realize they are in trouble, it will be too late.

I tweeted that it is worse than he knows. We are just starting to destroy the banking cabal known as the federal reserve. There is really nothing they can do about it. We are to powerful now. Even if the U.S. declared it illegal I would not be detoured.  I would just move to Singapore and vacation in the states. The Earth is my home, not the USA.

... and then you win.  

مرحبا ومرحبا بكم
The tax rules I was mentioning are for citizens of the USA. I am not sure what rules you have in your country, but you may owe some taxes. The exchange does not collect taxes, that is up to the user to figure out. Some countries have a heavy tax on crypto. Others, like Singapore, have no tax at all on crypto. 

As long as people insist on using bitcoin as an investment vehicle we should see epic crashes.  I would expect to see at least a 50% drop when crashing. 70 -90% being epic. There is no end in sight for this.

See you have a complete brain, with a frontal lobe and everything. He has a brain stem, so all he can do is repeat a sound he heard or follow a glittery object with his eyes.
   

Note that all this will come with AML/KYC/tax rules the moment you want dollars instead of bitcoin.  It will takes at least a week to set up the paperwork between your bank and the exchange. If you want to avoid all the rules then spend your bitcoin. You are only going to make the exchange rich by trading back and forth between crypto and fiat. 

He can draw up all the BS regulations he wants. I am not going to follow them. If the USA wants to steal my bitcoin via regulation then I'll just take my money overseas and give America nothing. Donny's failed leadership has caused me to rethink my place in the world and being an American is not a source of pride anymore. So I'll keep using bitcoin and traveling the world, but perhaps I will stop coming back to the U.S. and just stay in Africa.

And loose the election?
Cheating is the GOP's primary strategy for winning. It's not like they could win a fair fight.

No. Trump is first and foremost a fucking brain dead moron. Then a child, then a lecher, then a coward, liar, etc. But a businessman? Give me a break, anyone can lose hundreds of millions of daddy's dollars without business knowledge. Donny could not figure out monopoly money if he had a tutor, much less understand crypto.

If you base your finances on what a complete moron like Trump thinks, then you might as well just burn all your money in a pile. 

That is a good point.  At a lower valuation and with a lower supply spread out over the planet, it would have been very hard to make a big buy. Before the exchanges and OTC trading it was really chaotic and involved reaching out to miners in other countries. Miners who often wanted to remain anonymous and demanded using TOR, PGP, etc. You definitely had to apply yourself to get any bitcoin.

The most important thing is that you use a legally licensed business, preferably in your country. If you choose otherwise then you have absolutely no recourse if the exchange robs you or just screws up and loses your money.

I remember paying $0.74 per coin. And it seemed a crazy thing to do.
Perhaps in a few years we'll all be talking about how you could have bought BTC for $12K?

Good point! I was considering long term gains, not short.





How your tax money is spent is a different issue. I assume much of the money I pay in taxes will be wasted. However taxes can be a very fair way to pool the money needed for common projects. It sounds like you don't have a bitcoin problem, you have a government problem. You may want to become politically active to solve that kind of dilemma. But just sticking your neighbors with your tax bill is not going to do anything except bring you financial/legal pain. 

I can not cont the number of times I hear about the secret whales who control everything. But you know what I have never seen? Not one damn time since 2010? any evidence of any kind. Don't be a stooge and fall for FUD.

Here is some reality for the grown-ups.

In the USA capitol gains are an arguably unfair tax that favors the wealthy, not an unfair tax that is too high. You will likely pay twice the tax on the money you worked for as you will pay on your bitcoin gains. It could be as high as 20% or as low as 0%.

As far as using an exchange that does not do AML/KYC... You would have be utterly stupid to do that. What do you think the criminals who run an illegal exchange are going to do when you send them bitcoin? I know.

Then what? Are you going to the police to tell them that the people helping you steal tax money were mean to you? No you will have nothing and no recourse to do anything about it. Or maybe the exchange will help you avoid your responsibility. In that case it may just be a matter of time until the IRS catches up. Then you will owe the taxes, penalties, interest, and maybe a little jail time. You will have turned the best investment of your lifetime into a criminal record and a debt to pay.

Don't be a fool and listen the these children who don't know shit about investing. Be a boss, pay your taxes.

To reasonably evaluate bitcoin's power hunger we must also consider the alternative.

So how much energy is consumed by traditional money? Well that system involves consuming energy to print money. Then large amounts of fossil fuel to put the money on trucks and drive it to banks running the AC or electronic kiosks (ATMs) that burn energy 24/7 365 days a year. Each time the money moves a settlement must take place days or weeks later.  So the money is shipped again and again using huge amounts of power over time. additionally these banks have to have people to do the work. People consume very large amounts of energy to just stay alive. All this energy dwarfs the tiny fraction required by bitcoin.

So does bitcoin consume a lot of energy? Yes. Do fiat systems consume vastly more energy? yes.

Come on folks.

Anyone who entertains a thread like this has failed their I.Q. test.  

Since bitcoin is the largest distributed network on Earth, they must be operating from another planet. 

Much like the Gods of old, everyone says that yet no real evidence of it exists. Sure a big balance can push around a small exchange for a few minutes, but this is a global market that moves on the actions of vast numbers of people. The whale talk is for children.

The only "qualification" is an expertise in separating you from your money. Libra is just an attempt to salvage an antiquated banking system by adding another layer on top. Do you think banking will be better for you if you add more bureaucracy, more mouths to feed?, please.