This was already true in some cases, not in others. This changes things a little, but any use case that was compelling before (hint: that did not include coffee), is likely still compelling.


Most people already don't use bitcoin. A lot will have to change before they do. As in years away. It is pointless to make grand predictions based on one little tax ruling in 2014.

Apparently false.

https://bitcointaxes.info/

I'm sure that doesn't do every single thing that needs to be done, but not bad for day IRS+1.

You are making a mountain out of a mole hill. Stop.

That was always the case unless you thought you could buy for $100, sell it for $1000 and pay no taxes on the difference. Were you actually stupid enough to believe that?

This thread is still pointless, and the headline is absurd. Using a computer to track capital gains when that computer necessarily already has all of your bitcoin transactions recorded since you can't possibly engage in a bitcoin transaction without a computer is not even close to "next to impossible."

I don't know what you are even looking at. The graph shows the line above the 0.04 legend quite clearly.

https://i.imgur.com/yWxue05.png

Furthermore, as I explained, the line on the graph has continued to move higher over the past several days, yet the reported number has not changed. Both can not be correct.

How do you know who is using the service, if it is broadcast?  Sure you could require that clients register with the head end, but given the original claim (which I have not verified) that broadcasting the entire block chain can be done at 2400 baud, the broadcast service could be used by anyone and everyone passively without registering if it includes the entire block chain (or perhaps some pruned version of it). It is likely difficult to envision in advance all of the potential uses for such a service. Smart property comes to mind, for one thing.

It's not a trick and it doesn't "avoid" taxes as the post explains. You will still pay the same taxes, just not in the form of every $1 transaction being a taxable event.


So now you are arguing on the basis of what you think the IRS will do in the future, and you expect anyone to pay the slightest attention to your baseless speculation? Good luck with that.

Identifying lots on capital gains transactions has been done for decades in amounts totaling billions or more likely trillions of dollars (by institutional investors). Closing this non-loophope doesn't appear to be a high priority for the IRS.

Moreover, even if buying a cup of coffee became a taxable event, who cares? This is not 1970. We have this these things called computers, smartphones, etc. They are good at bookkeeping.

This thread is pointless.

The violet line is clearly above 0.04. The number is below 0.04. That's clearly inconsistent. Maybe the graph is being drawn wrong.

Also, the violet line has gone up as shelved shares were paid (consistent with there being a long strong of mostly >100% luck blocks recently), but the number has not changed. Based on this I suspect the number is wrong and the graph is right.

Something is broken.

Yes the two hots coming in are 240 V apart. The regular 120 V circuits use one hot and the neutral. 240 V circuits (large appliances, etc.) use both hots.

New loan to Raskolnikon. Post #2 updated.

Bump. Graph shows unpaid of >0.04 now (looks like some shelved shares were paid), but unpaid balance has not budged.

Good idea.

Small correction to how you stated it though. You have to have not just "some" coins purchased below and above, but a sufficient number. which depends on the relationship between the current price and the prices at which they were purchased. Which is to say your little solver needs constraints on a and b.

A simple example would be if you have coins at purchased at 1 and coins purchased at 100 when the current price is 2. You need a lot more of the 1 coins to make this work. I don't think you can realize losses by just doing a quick round-trip trade either, due to the wash sale rules, though I think you can realize gains that way.

But in many (less contrived) instances this should work and should greatly reduce the number taxable events, especially on small transactions like buying a cup of coffee.

We wish. In reality they sold out their April batch and their Aprll + July and March + July bundles. Preorders are slowly dying, but unfortunately not dead yet.

CIMF loan repaid 3 days early. Collateral in the process of being returned.

Sounds perfect as long as you don't reuse addresses.

Mutual funds do this sort of thing already. Should be fine, assuming the IRS continues to use the same gain and loss rules as securities trading.

Yes but you can wait as long as you want before you start "mining" (i.e. deferring the income).

You can avoid staking your coins for a while and accumulate coin days, for which you then get credit when you do stake. That is my understanding, which is granted a bit fuzzy on PoS coins (pun intended?).

Their position, essentially, is that even as a solo miner you are providing a service to the network and being paid in kind. As with any other payment in kind (unless some exception applies), that is revenue at fair market value.

This is essentially correct in reality, though I'm not ready to credit the IRS with fully understanding bitcoin. The only reason you are allowed to stick that coinbase transaction in there giving yourself 25 coins out of thin air, is that the rest of the network has agreed your services in securing the blockchain are worth that much.

You can retransmit blocks with decreasing frequency as they get older. If you miss recent blocks, wait a little while and you get another copy. If you missed old blocks, you may have to wait a long time to get them, but you will eventually get them.