Latest posts of: fattyforhire

Soon paper money can be used in the toilet. And this process is already obvious to the disgrace. But it will not be soon. But you will see how the states will have a lot of money from their citizens, at least on the sale of plastic crypto-currency cards. Wink

Understand! Not just this whole system was created and exists as a decentralized cloud. For 7 years of the existence of bitcoin, not one person thought about the possibility of hacking. Such people even have a profession - hackers. And they definitely do not think as banal as the described process in this topic. Do not make others laugh. Wink

Quote from: unbeaten on December 16, 2017, 07:36:22 PM

I decided to get to the bottom of how much tax you have to pay for selling crypto currencies if you live in the UK...

You don't have to pay tax when you buy
You don't have to pay tax on it if it increases in value and you just hold it in crypto
You have to pay tax on the "profit" made when you sell it back to GBP
The tax bracket this comes under is capital gains tax (CGT), it's not the same rates as property though
In one financial year the first £11,300 profit in capital gains on cryptocurrency is tax free
The next £8,500 comes in the 10% tax bracket, anything over that is taxed at 20%
So you could in theory sell £19,800 with of Bitcoin every year and only pay £850 in CGT

What I really want to know and can't find the answer to online is...

What are the tax implications if you buy a car direct with Bitcoin? You are not technically making profit on the sale of an asset, you are swapping an asset with the value of x for a different asset with the value of x

The answer to your question directly depends on how and where you will change your bitcoins to buy a car or something else. Now there are a large number of independent exchangers and it is always possible to negotiate a personal meeting with the seller about the method of payment. Wink

Quote from: acmagbanua21 on September 28, 2017, 10:49:20 AM

BITCOIN vs ETH ? your thoughts ?

Personally, I keep both of these cryptalts because at the moment they are equal in the likelihood of further growth. But the quality, technology and meaning they have is completely different. All their developments are able to improve the quality of the prospects to which they seek. Therefore, it's too early to sell.

Quote from: sqcrypto on December 16, 2017, 11:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

I think this kind of work and payment will apply to the section of freelancing. Because in this way you will work for yourself and make money more than usual, without taxes and government regulations.

Quote from: TanClan98 on September 08, 2017, 01:04:12 AM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

I think that this terrible moment of the prohibition of the bitcoins by the states has already passed. Now they understand that this is a way to earn money and become a leader among other countries thanks to the technologies of crypto currency.

Quote from: 9jaflick on December 16, 2017, 04:26:30 PM

As I can remember 3year ago while I was hurting for bitcoin from faucets to faucets, I can make up to 500k sats within a week from faucets! And am wondering now if it still so?

No. Now this is not a popular source of income. It is better to earn free bitcoins by participating in different bounty from iso. But there are a lot of naves in this sphere too. But this forum is able to help you in finding the most alternative option for earning.

Quote from: sann111 on December 16, 2017, 05:43:45 PM

Hey guys,

How do i buy other cryptocurrency like Ripple, Neo, etc in US dollar?
Coinbase only supports 3 currencies.
Also my bank charged me $3 plus another $3 for bitcoin purchase on Coinbase? I thought they have office in USA. What do i do?
I tried to get in touch with coinbase, their email system is down.

Any help would be appreciated.

I think that soon it will be possible to buy these and other crypts for dollars. And pokachto you can buy them only on stock exchanges such as Poloniex, Bittrex and others.

Quote from: spngebob on December 12, 2017, 07:26:00 PM

There is no single person on earth who haven't heard of bitcoin.
Everyone is talking about it, it's all over the news, everyone is buying it, price is dramatically increasing.
It's like gold rush back in 1848.

So why aren't we calling this bitcoin rush?
You know, in 20 years from now it would be funny to say - yeah, i bought/mined bitcoin during bitcoin rush back in 2017 Cheesy

I disagree with you. On the bitcoins, not everyone knows yet. Someone just heard this word, but does not know what it means. Someone thinks this is a pyramid or a bubble, and only 3-7% of people on the ground know a bit about bitcoins.

Quote from: Ava92 on December 16, 2017, 08:39:12 AM

Hi
guys
What you do say about 4th industrial revolution just only on cryptocurrency because
redefinition of money is at the heart of the fourth industrial revolution.

It is too early to judge whether bitcoin will become the 4th industrial revolution. The rate of capitalization growth of Crypto-currency is really impressive. But just as quickly can go all down. But it is not exactly. Wink

Try to put your work on the auction. Maybe there are real fans of bitcoins and they will pay you good money for work. Wink

Quote from: Juggy777 on December 15, 2017, 11:56:12 AM

Usa is selling seized Bitcoins money and converting it back to usd, this shows they are interested in the coin and will be happy to allow price hikes happen cause they'll profit a lot from sales. I feel usa shall sooner or later back Bitcoins indirectly.

https://arstechnica.com/tech-policy/2017/12/feds-moving-quickly-to-cash-in-on-seized-bitcoin-now-worth-8-4-million/?amp=1

While a Japanese company has decided to pay part salary in Bitcoins, now how many of us wish we're part of that company don't we? Their motto to spread Bitcoins and gain more knowledge on its working that's good right for the crypto king.

https://amp.theguardian.com/technology/2017/dec/15/japanese-company-paying-employees-bitcoin

This is really good news. But if the US abolishes the regulation of the SEC, this will greatly affect the growth of the Crypto-currency. And if China allows to conduct ISO - also good. Perhaps this news is just waiting for its time.

Quote from: donDrey on December 16, 2017, 09:02:14 AM

1. Top 1000 Bitcoin addresses control 34.28% of total Bitcoin in circulation.

2. FBI owns 1.5% of world's BTC.

3. 64% of BTC have never been used and may never be used.

Which other interesting and unique facts do you know about BTC? Please share.

These are far from unique facts about bitcoin. You just go to Google and read about the bitcoin. But the most important fact you still missed. Decentralization is independence and anonymity. Good luck searching.