I am reading a lot about bitcoin IRS tax notices telling people to back and resubmit the taxes because they did not fully report income. I just got one and have been pretty compliant to the best of my ability in reporting. Do you guys know anything about Bitcoin with alt coin trading pairs and taxation on any gains with that? My understanding was that before 12/31/2017, if you made money by increasing your bitcoins from trading alt coins that you could try to utliize the "like-kind" clause which does not force you report a tax on that trade.

For example, if I make 3 BTC in profit from trading alt coins against BTC in 2017, then does my BTC profit count as a taxable event if I never cashed out?

Any opinions or thoughts on this would be much appreciated.

I just looked over this notice: https://www.irs.gov/pub/irs-drop/n-14-21.pdf

Let say Person XYZ trades Alt coins to increase the number of BITCOINS. However, Person XYZ does not sell those bitcoins. Are those bitcoins taxable as income for fair market value? Or should the person be taxed after they convert to fiat?

Why did they list Craig Wright as a guest at Bitkan??? He has no credibility whatsoever!

How do I find out the exact block time for BTC? I know its supposed to be every 10 minutes but what is the exact time to generate a block currently? Is there a website that has that information?

Buy when there is blood in the streets.

Buy on rumor sell on the news

Ever heard of these sayings above? I love how much HATE BCC is generating ever since its inception. This just tells me one thing...BCC is a GO! See you at 8,000 in a few years.

I am very confused...let me explain what I did.

I went here https://www.bitcoincash.org/, and clicked wallets and downloaded Bitcoin Unlimited Wallet.

After opening it up, I noticed that they are giving my Balance in "BTC". I thought this was supposed to be a BCC wallet???

Why do they label my balance with BTC?

Also, how do I find out what my BCC address is? and How do I find out my private keys from using this client?

I have stored my coins in offline storage but I use the private keys to import my wallets into Electrum to do transactions. But my issue is after I am done using Electrum software, how do I get the Electrum program to delete my wallet so that someone else using my computer doesn't open up Electrum and use my coins?

I went to the bitcoincash.org website and used their links to download wallets like ElectronCash. Norton is recognizing them as viruses. Are they really viruses or is my antivirus scanner just acting dumb?

Please note: I clicked the electroncash site from bitcoincash.org so there is no way I was directed to a false site.

So far I told my virus scanner to recognize this program as safe but I will not install it until I get some direction here.

Just out of curiousity, I have used blockchain.info which is very trusted for putting in my private keys to import my bitcoins to send out to other addresses after they were stored offline. But what is to stop blockchain.info from becoming corrupt in the future and importing our old private keys and taking our bitcoins? The same goes with other wallets like Electrum and Jaxx? They are all very trusted. But would they ever want to become corrupt in the future? Could there be a hidden code in these wallets that is sending private keys to a central server for stealling your coins at a later date?

Also, how about QR code software? Pretend I made an app that reads QR codes in general for people. But as a software developer I install a code in software that sends every QR code that is read to a central server where it tries to sweep keys all day long.

Any thoughts on these scenarios? I have heard horror stories on this forum so I have to think with horror.

This is getting all too crazy! If a fork happens, this could cause the market cap to split into two and increases the chance of ethereum being in the number one spot for market cap! Any thoughts on this? Forking also creates 2 brands of an original item. It almost like Nike clothing splitting and they rebrand themselves as Nike Classic and Nike Modern. Which one does the uneducated consumer buy?

I think I messed up big but maybe someone can tell me if I can recover from this. I made a wallet a long time ago on Electrum to import my key and send BTC to my coinbase account. I did not write the paraphrase down and I wrote down the wrong password! I went back a few months later and I imported another private key in Electrum so that I could send to my coinbase account. But it is asking me for a password and it keeps saying it is incorrect. I have tried everything I could think of but no luck. Any suggestions?

I just recently logged back into my blockchain.info account. I have a paper wallet. I want to sweep my private key into my block chain account like I always did in the past. On their website, there is no option to do so anymore!!! Does anyone know how I can do this without having to download their app?

I am reading a few topics about bitcoin forking. Is this really happening?

Can anyone care to explain why Bitcoin is all of a sudden forking?

Is that because of the hack?

And is this a good thing for bitcoin?

Imagine you are the hacker that just hacked Bitfinex, living in Czech Republic. You just stole 60 million dollars and no longer have to work at your burger king job. And the best part about it is, you dont have to worry about being caught because the police of your country don't care how many bitcoins are stolen because they have no clue what a bitcoin is or maybe they are too lazy to investigate international matters. And on the other side, its the Czech Republic(I am using an example but you can insert any corrupt eastern European or developing country here) so their law enforcement doesn't care either. If I was the hacker I might as well unload those coins and retire. Who is going to do something about it?

Its a sad day for Bitcoin indeed. At least with banks your money is protected from direct hacking of your account. How often do you hear of your bank account being hacked and someone transferred those funds to another account? If only BTC had some FDIC assurance.

I dont think bitcoin will kill off all other ALT coins. Imagine 5 or 10 years from now end users are selling their products online and accept multiple forms of payment BTC, ETH, LTE, etc. Why not??? Just look at this chart here.

http://coinmarketcap.com/charts/#btc-percentage

This is the total percentage of the market that Bitcoin dominates. And since the beginning you can see that the peaks are becoming less and less. So this means ALTs are taking up a bigger percentage of the total Crypto market cap.

I think BITCOIN will be a STRONG crypto. It will be the mother of all cryptos, people will buy it to branch into other ALTs if need be.

Hello,

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I will provide you the FULL size JPEG image.

Please checkout 2 of my websites.

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Razin

When SecondMarket goes public, can SecondMarket be apart of your 401k???

FlexCoin was using 2 Factor authentication and it still got hacked!!!! Doesn't that scare you?

Everyone here seems to think that with 2 FA, you are covered. But your not!!!!

I lost only 3.11 bitcoins so far from cryptsy but I was a fool to think that 2 FA could have protected me if I had it turned on.

The public is turning their heads away from Bitcoin if this keeps happening. See my article here: https://bitcointalk.org/index.php?topic=469752.new#new

I am a former supporter of bitcoin but I hate to say that bitcoin will not reach mind boggling prices. There is one important reason for this:

HACKING

1. As the price goes up, BitCoin will be more lucrative to hack. This fear of losing funds will keep the price down. And even the most secure of exchanges have been hacked like CoinBase!!! That’s right. Don’t believe me? Do an internet search on coinbase hacked.

2. All exchanges are easily hacked and not secure enough. This is another contributing factor that will hold the price of BitCoin down. We’ve seen wallets get emptied for an entire exchange. But its not just that, even individual accounts have been hacked if they could not hack the entire exchange.

3. BitCoin’s convenience is its weakness. Bitcoins are available in electronic space or Cold storage. So its much more susceptible to have the coins getting stolen. With a bank, its much more difficult to do this. I can go to the bank and make a deposit and my account is credited for that deposit. If a hacker gets my user name and password, and tries to transfer those funds, I can catch it and deny the transfer. Everything can be traced. With Bitcoin no one is even willing to prosecute hackers that steal coins. And how often does a hacker gain control of your bank account as opposed to a bitcoin exchange account? How often does a hacker empty the funds from a bank account compared to a bitcoin account? Also here in the USA, funds are FDIC insured for up to $250,000.

Also consider computer crashes and losing the paper that had all your coins on it.

4. Lets just pretend that BTC does reach 100,000. Given all the risks of how easy it is to lose your coins, why would someone pay that price? Why not hold a stock that is worth 100,000 dollars? That is much more secure than a bitcoin.

I learned all this the hardway when my cryptsy.com account was hacked. I only lost 3.11 BitCoins which was basically all my profit plus 800 dollars net loss. Its not a lot but enough for me to say I am going to stay away. None of these exchanges are secure enough like a banking website. I will move my coins away from coinbase into cold storage and hold until the price gets pumped up enough for me to sell off and break even.

BitCoin was  a promising concept but until you see your wallet get emptied, you see all the flaws. BitCoin didn’t ruin itself, the hackers did.

Anyone having any problems with coinmkt.com for trading their bitcoins or transferring their bitcoins out to another exchange?

Coinmkt was working so well before but now I am having trouble executing trades. I am selling 0.3 BTC for the rate of 1 BTC = 785, which is a deal considering the current price and still no one has bought my coins.

Is something wrong with the site? It usually doesn't take this long to get trades in motion.