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That is such a cool project. Is there a link to the private key somewhere? It would be interesting to see the relationship betwwen the key and the image.
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Yes, I also think that bitcoin is useless in reality, at least for now, because it is virtually impossible for many countries to ban Bitcoin transactions.
So... when it is banned in many countries it will be usefull? lol made me laugh..bitcoin is usefull for those who has in their wallets..but like you that has nothing yes its useless.🤑🤑🤑. ..i use to pay bills using my coins,buying stuffs online.booking hotels and playing casino..whats the useless about that?and my business is now running decause of bitcoins Yes, It's funny how people who don't use bitcoin are always telling us how useless bitcoin is. I use it all the time. I bought some airline tickets with bitcoin yesterday to fly out to Colorado. I am looking at a property to buy with bitcoin and staying in a hotel for bitcoin. Yet a guy who has never spent a bitcoin is schooling me? LOL |
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Ok to be honest I have a slight doubt that this BTC is a devil's money. They said it can't be a devil money because its decentralized, but forks can be tricked. BTC might have an exploit from its dev.
Someday I believe Bitcoins will be deposited inside a man's body thru RFID microchip.
Well I don't know about the devil, I'm not superstitious. But being decentralized means no entity can control it. Unless every one of bitcoin's users is the devil? And there is no way to "hide an exploit". Bitcoin is open source software so anyone can review the source code and compile it for themselves. If you know how to code then it is quite obvious that bitcoin is just a math protocol that is not controllable and serves no one. Not the CIA, the Aliens, or some 18th. century secret society. Jeeze,  Oh and implants have already begun! https://www.rt.com/news/204315-implant-bitcoin-wallet-skin/ |
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Yes, I also think that bitcoin is useless in reality, at least for now, because it is virtually impossible for many countries to ban Bitcoin transactions.
So... when it is banned in many countries it will be usefull? |
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If you live in the U.S. and you lost money trading crypto in 2017 you can claim a loss to the IRS. Only profits are taxable and losses can be deductions. Anyone in that boat or have information about that process? With the huge growth I guess few lost money, but I would be interested in how the irs treats a loss claim.
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It’s kind of weird to see that people are still using Coinbase even though they are kicking people out of their company. Coinbase is working with the IRS and the people that put Bitcoin in their accounts and make a cash transfer will lose a bunch of money in fees while being tracked by the IRS.
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So you think it would be better to deal with a website that does not follow the law. Good luck with that. |
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I'm currently paying about $12k per quarter. So... yes.
Whoa! What percentage of income tax in your country? At such speed you have no chance to remain unnoticed. But you probably have not problems with withdraw Fiat. When the government helps its citizens, takes care of that they had the opportunity to have an income do not wish to pay the tax. But there are States which are doing the opposite obstacles and want to get a taxes. It seems to me that paying taxes is a two-way road. Everyone decides for himself to pay taxes or not. Opportunities to hide income is a lot. In the U.S. I make enough that I have to estimate my taxes quarterly. Between the state and the federal taxes I put aside the maximum amount. When I do my taxes at the end of the year I will likely receive a refund of some of that money. I'm not hiding anything. I don't have to hide because I am following the law and not sticking my neighbors with my tax bill. I think a lot of people are going to be very sad when the IRS catches up to them and presents them with a bill for years of profits. Their defense that "a guy on the Internet said..." is not going to be worth anything in court. Pay your taxes and be bulletproof.  I appreciate this opinion. Perhaps you are satisfied with the activities of your government. Only satisfied people can have such thinking. If the country provides an opportunity for its citizens to have the income she deserves to have its citizens to pay taxes honestly. I am sincerely happy for you. But there are many countries where the government plunders the Treasury. This is the main reason why people do not want to pay taxes. People should always be responsible for those whom they bring to power in the elections. You make a good point. Although I am not always happy to see my tax dollars wasted, Taxation itself is a solid idea. It really does come down to who controls the treasury. There are places so corrupt that taxation is just theft. In such places I would not pay taxes and would use my bitcoin to fight the government. At least for the moment, even with dipshit in office, I feel I can work within the system. |
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If you are asking this question then all the facts in the world can't convince you otherwise.
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BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency.
I must be confused then, because bitcoin is the only money I have used on the Internet for 7 years. |
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The good news is bitcoin has crashed and now we can return to non-silly valuation. I'd be happy to see a fall to $6k, then no growth for a year. That would help our cause. Not your "cause" of getting rich. Our cause of disrupting banking.
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If a country accepts bitcoin, that country will set the tax system, after all, bitcoin transactions are large amounts.
Certainly bitcoin transactions are not taxable by the government because bitcoin is anonymous and highly secure so it is not possible to track the owner of the transaction so there is no way to levy taxes for the Bitcoin trading. This is also the reason why bitcoin is banned by many countries. Transactions? What do you mean by that? Any sale or trade of cryptocurrency is taxable. If you sell some bitcoin for dollars or another cryptocoin, any spend to purchase something for crypto. Those are taxable events because you made a profit. It does not matter whether or not a government recognizes bitcoin. It is taxable. If you are just transferring bitcoin between your wallets that is not taxable. But all profits are. And bitcoin is not anonymous. It is "private". But the IRS has the tools now to determine who is who in most cases. Do some homework and check out ( https://www.chainalysis.com/). |
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I'm currently paying about $12k per quarter. So... yes.
Whoa! What percentage of income tax in your country? At such speed you have no chance to remain unnoticed. But you probably have not problems with withdraw Fiat. When the government helps its citizens, takes care of that they had the opportunity to have an income do not wish to pay the tax. But there are States which are doing the opposite obstacles and want to get a taxes. It seems to me that paying taxes is a two-way road. Everyone decides for himself to pay taxes or not. Opportunities to hide income is a lot. In the U.S. I make enough that I have to estimate my taxes quarterly. Between the state and the federal taxes I put aside the maximum amount. When I do my taxes at the end of the year I will likely receive a refund of some of that money. I'm not hiding anything. I don't have to hide because I am following the law and not sticking my neighbors with my tax bill. I think a lot of people are going to be very sad when the IRS catches up to them and presents them with a bill for years of profits. Their defense that "a guy on the Internet said..." is not going to be worth anything in court. Pay your taxes and be bulletproof. |
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I'm currently paying about $12k per quarter. So... yes.
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If that were true then one would have to act to avoid holding BCC. In fact one had to claim their BCC because BCC was a fork of actual bitcoin. Whoever wrote this can say whatever they want. They can claim POTcoin is the real bitcoin. whatever. |
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Is it ever "Time to panic"? Do you think successful traders panic? Or run around delusional with optimism during a rally?
Math is your friend not emotion.
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Are bitcoin taxable? I think its hard to impost taxes (if by chance), since it is volatile, value is not permanent and steady that make it difficult to determine its value and possible income.
Yes currently it is not taxable but in future when bitcoin bitcoin will turn as legal currency then government may impose tax on it. for example Japan has turn bitcoin as legal currency therefore i think that they may also have impose tax on bitcoin income. Dammit man! LOL. Can't you read the post just above this nonsense.? It is absolutely taxable and has ALWAYS been taxable in the U.S. Since day 1. Don't just spout off about things you have no clue about. |
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I like to travel. I will not be going to Bali now.  |
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I'm in. Looks like I'm going down under.  |
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This is an old thread, but it's still going on.
How can I prove IRS my income if I have staked (POS) my coins in my wallet.
Bank and exchange statements maybe would be ok, but what about transactions in my wallet.
The IRS is able to see your transactions, so can anyone via the blockchain. They use advance chain analysis tools to figure out who is who. However the bank statements, credit card transactions, etc. is what they will use to prove tax evasion. Not a penny goes through a bank without accounting for it. Basically if you make any profit in America, ANY PROFIT AT ALL OF ANY KIND, you owe taxes. In bitcoin it is capitol gains you owe on the appreciation of value. There is no question about this. It is clearly defined by the IRS. READ: https://www.irs.gov/newsroom/irs-virtual-currency-guidance |
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1. Read the whitepaper by Satoshi. It's linked in my sig below. Everything else here is about this one paper.
2. Avoid alt-coins until you can explain bitcoin to a mathematician. Most alts are scams, few have any purpose for existing.
3. Unless you are the sole owner of your private keys you do NOT have any bitcoin. Get those keys secured!
4. Make backup copies of your wallet. Store them offline. Bank safe deposit boxes work well for this. Without backups there is no hope of recovery if you have problems with your wallet.
5. Do not delude yourself into thinking that someone knows something about the future. Nobody knows what is going to happen, nobody. Do your own homework and make your own decisions.
6. Only trade at legal, licensed businesses in your country. Anything else is foolish as you have zero legal recourse. You are going to have to provide identity papers etc. It is the law and a place that does not follow the law is not trustworthy. What are you going to tell the police? "Help, the people who were helping me avoid taxes stole my money."
7. Keep careful records of your trades as they are taxable. In virtually every place on the planet you will owe taxes on bitcoin. Don't believe the bullshit you see here every day, there are taxes. In the U.S.A. you owe between 0%-20% depending on your tax situation. And yes, the IRS has begun tracking trades and has the blockchain to prove every single transfer ever made.
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