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Either the price is going to go up, or the difficulty is going to go down.
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Probably not. Free money is never a good thing.
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Can someone please point me to the LAW that says cryptocoins transactions are taxable in the first place?  NOT IRS code. The IRS is simply a foreign trust based in puerto rico. They have no law making powers. Certainly: http://www.law.cornell.edu/uscode/text/26/1001(a) Computation of gain or loss
The gain from the sale or other disposition of property shall be the excess of the amount realized therefrom over the adjusted basis provided in section 1011 for determining gain, and the loss shall be the excess of the adjusted basis provided in such section for determining loss over the amount realized.
(b) Amount realized
The amount realized from the sale or other disposition of property shall be the sum of any money received plus the fair market value of the property (other than money) received.
None of that has anything to do with cryptocoins. |
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Literally every US court operates in equity/admiralty law, however, because fiat is not substance and cannot be part of any common law contract, they become "colorable" contracts, and thus require "colorable" statutes for dealing with it.
Bitcoin is separate from all of this. A bitcoin contract falls completely outside of the entire US legal system UNTIL you use fiat (like during exchange). One way around this may be UCC 1-308.
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There is NO LAW requiring you to pay any taxes on your bitcoin.
If the IRS said you had to pay taxes on your WoW gold, would some of you dunces pay them for that, too?
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Can someone please point me to the LAW that says cryptocoins transactions are taxable in the first place? NOT IRS code. The IRS is simply a foreign trust based in puerto rico. They have no law making powers. |
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Coinbase, it's like MtGox but newer.
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Be afraid! Be very afraid! Bwa-ha-ha-ha-ha
Seriously though, I have my own thread on this. The IRS and the rest of the people running USA don't even follow their own rules anyway, so why should the rest of us?
The way I see it is pretty simple. They are no different than any other criminals. They have lots of guns. No imaginary good guys are going to protect you from them. You, and only you, are responsible for protecting yourself via armed resistance if necessary.
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Boy. That's kind of a messed up first meeting. Apologies but it's good that you realize that in his own sort of awkward way he was probably trying to pay you a compliment. Thing you have to realize about most of us bitcoiners is that for the most part we are a fairly socially awkward and at times inept crew (especially in the presence of attractive women or any female for that matter). Hopefully this won't discourage you from visiting other bitcoin meetups, I promise there are some really nice fellas involved with BTC too  Speak for yourself. As someone who actually still has functioning testicles, let me assure you that the OP is full of shit, and is using a common princess tactic of playing the victim to manipulate your white-knight-mangina-disney-programming. |
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There's no reason for Bruce Fenton to attack Ben Lawsky's character. Ben is a very dear friend of mine and I can assure you he is a fine fellow and has a deep heartfelt concern for and only wants to protect the citizens of New York. He is a very devoted public servant and is only doing what is in their best interest.
Is this a joke? The guy is scum. |
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Just a lot of stupid shit trolling going on here now. I think I proved my point that the IRS has NO IDEA how many bitcoins I possess, nor do they have any idea how many I've traded or for how much.
Most of you are just pussies (darkota) and/or brainwashed and lacking any critical thinking skills (LostDutchman).
Go on and keep paying for your warfare/welfare state. Your ideas are old and immoral and your arguments all reduce to nothing more than threats and ad hominem attacks. I think you've done a wonderful job of helping me prove that.
Thread locked.
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Speaking of which, I just read and enjoyed Nassim Tableb's "Antifragile: Things That Gain From Disorder." I recommend it!
I would argue that no one would even bother to try to figure out what is good and what is bad for consumers if it wasn't for food regulations. If businesses didn't need to worry about keeping customers safe then why bother? [/quote] How old are you? Has anyone ever explained to you the psychological concept of "projection"?? |
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The whole thing sounds slightly implausible, my first question was "what inspired a retired policeman to start tracking down 'illegal bitcoin rings' ?". Sounds a bit unlikely.
And cryptocurrency has no explicit legal status in any country other than Germany, so the whole thing seems somewhat contrived at some level. At what level, and to what end, who knows.
Yeah, this definitely sounds like a fake news story to scare people. Reuters is owned by the Rothschilds. |
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It's pretty easy to get internet under a fake name.
Even if you signed up under an alias wouldn't your IP address still be associated with you house/apartment? Yes, and what if you rented in the same fake name? Before someone says you can't pass a credit check for a place with a fake name - you can rent without doing a credit check. Just tell the landlord that you don't use a SSN on principle (Its a welfare program. Why invest in a corp that's trillions in debt? Underage contract..etc, etc). Some landlords, especially if they're desperate to rent, will let it slide. Others can be talked into it with a large enough deposit. |
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After years of being a monetary activist, I can safely assure you all that women just don't and aren't really going to understand bitcoin, as they lack an understanding of money in general.
Money is a tool of men to deal and trade with one another. Women, frankly, never had any need for money. They have their own currency, and its accepted EVERYWHERE. They can use it to get whatever they want and need.
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It's pretty easy to get internet under a fake name.
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The burden of proof is in the hands of the accuse; it is commun that tax payers end up having huge fines when they didn't cheat or broke the law
The fact that it was not intentional may be considered attenuating circumstance in some cases but it will not save you of paying some fines
In order for them to initiate a audit they must have some evidence that fraud occurred. The "evidence" can come from MANY sources, but there must be a discrepancy in your taxes. They will not simply audit random people who may or may not have bought/sold bitcoins. If you were intelligent enough to trade your bitcoins in a pseudo-anonymous format, they will never know. That all said, if they have some evidence you have been dealing in bitcoins that you never reported, you will likely be audited, and you will have to prove that you have never traded bitcoins. This is not true. If you avoid exercising any federal privilege in your bitcoin dealings, then you have no obligation to report them. An analysis of Title 26 demonstrating this pretty clearly (and proving it with evidence from the IRS and Treasury) is available at losthorizons.com. That sounds a lot like the people who say that they do not have to file their taxes because there is no law that says a taxpayer must file their 1040. who says that? I believe the argument is that they aren't "taxpayers" to begin with. |
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Centralization of mining power was predicted from the outset. The current hierarchical monetary system has distributed the vast majority of resources among a relatively small group of elites. Bitcoin got big and the big fish came in and swooped up the network - no surprises there. That's why multiple cryptocoins have always been necessary. As soon as they manipulate Bitcoin too much, people can/will just trade out to the next coin.
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The lack of communication is the most unsettling. If he was honestly robbed - which is possible - the thing to do would be to pay everyone back a percentage on a regular basis. He should have weekly if not daily updates. He could ask for help.
The lack of communication generally means the BTC is gone.
That really leaves only ONE exchange that's been around since 2011 - BTCe. Its amazing that almost the entire first generation of exchanges all ended up folding - usually with their depositor's BTC.
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Looks like Vircurex has stolen some of my litecoins. I'm surprised this hasn't gotten more attention.
It was a calculated risk on my part. Its one of the oldest exchanges and so I had some faith in them and took a calculated risk so I could do some trading.
It was hardly my life savings, but it still pisses me off.
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