Have fun in jail!
It doesn't matter if you own a pizza palor, mine bitcoins, or sell drugs.
You always owe taxes!
Why don't you move to a country where there are no capital gains tax and no income tax.
As long as you live in the US or are an US citizen you will be breaking the law and the IRS will catch up with you.
Seems like the pro-tax argument always amounts to the threat of being put in a cage. That's called "extortion". Taxes = Extortion. Get it? |
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I'm pretty happy about all the people selling. I was worried I'd never get to buy at sub-500 prices again.
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I disagree. Overly fat people are generally assholes - it usually means they are consuming more than they are producing, which means they are either looting or mooching the difference.
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Again, I don't owe them anything. I EARN my money by adding value to the world. That value is legitimate by the fact that someone paid me VOLUNTARILY for my services. Any money I EARN is mine to do with as I wish, as by being its creator I have the authority over it.
Calling someone a "tax professional" and that person saying I owe doesn't make it so. Taxes are merely extortion by definition.
Grow up, Maged. You're a sheep, and a coward, and an accessory to extortion.
This is complete nonsense. I just want to give you an example. Part of the taxes which should be applied to your income is the social security tax, which is used to pay for current and future social security retirement benefits, benefits for widows and widowers, and disability benefits. What if nobody pays these taxes? If you don't want to contribute to society, just go live on the Moon. if you are in the US and you benefit (or you may benefit in the future) of any kind of social service, then you should pay taxes. Otherwise, you seem like a grownup kid who lives in his parents' house and refuses to give a share of the rent because any money you earn is yours to do with as you wish. I contribute to society every day by working in the private sector. That's why people pay me VOLUNTARILY for what I do - they value my services more than what they are paying me - so it is a net gain for them to do business with me. By "social services", what you really mean are "services paid for with extorted funds". If I hold a gun to your head, and told you to pay me and I'll build you a website, would that be right of me even if I actually did build you a website? Of course not. Calling a gang that does the same thing "government" doesn't change the morality. |
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That kind of set-up certainly sounds like the good-ole-boy's MO.
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If you mean that they were always owed, then you're wrong.
No, I'm not. Had you actually talked with a tax professional prior to the IRS guidance (which, given the nature of this thread, you hadn't), you would have known that taxes were always owed on realized gains from bitcoin. Again, it was just unclear whether bitcoins were either currency or property. Again, I don't owe them anything. I EARN my money by adding value to the world. That value is legitimate by the fact that someone paid me VOLUNTARILY for my services. Any money I EARN is mine to do with as I wish, as by being its creator I have the authority over it. Calling someone a "tax professional" and that person saying I owe doesn't make it so. Taxes are merely extortion by definition. Grow up, Maged. You're a sheep, and a coward, and an accessory to extortion. |
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depends what gender you are.  |
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They likely only declared bitcoin taxable so they can get a cut of the silkroad auction.
Huh? It's always been taxable, we were just uncertain as to how. Now that uncertainty is gone. Not sure what you mean by "It's always been taxable". If you mean the IRS will always want to steal, then I'd agree. If you mean that they were always owed, then you're wrong. If you mean they've always been able to collect, then this thread proves that wrong. |
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A cryptoanarchist bitcoiner with a bank account?
Blasphemy!
The only place I keep fiat is in my wallet. Banks are for suckers.
You don't have a bank account. That means that you probably don't have a house, or a credit card, direct deposit, or children, or any of the other things that are part of normal life. You are basically a monk of a pseudo-religion. Your experience is so far from our own that any advice that you might have is likely to be useless or even dangerous to us. Monks cannot provide a good example to the rest of us, because if we all lived like monks there would be no families and thus no future. All purely monastic societies die sooner or later. lol |
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OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
selling Bitcoin for Fiat blasphemy A cryptoanarchist bitcoiner with a bank account? Blasphemy! The only place I keep fiat is in my wallet. Banks are for suckers. |
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is it really smart poking the buffalo with a stick?
i hope you are at least posting this behind TOR and if not that the tax man won't subpoena the forum to disclose your ip to make an example.
They would still have to prove that I owe them something. |
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I respectfully disagree. They're usually misguided, blind, non tech savvy followers that like to tweet and take selfies. Mostly chicks, soccer Moms, and teenage girls.  Any self respecting, independent thinking, knowledgeable and tech savvy grown man has an Android phone. Thought this was a known fact!  +1 |
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I was thinking about this, if Bitcoin is treated as property in the USA, then why the need for money transmitter licenses for exchanges based/operating in the US?
If you think about it.. as an exchange you're taking back a product "Bitcoin" (property) and "refunding" for USD. Wouldn't every store, which has a refund policy, need a money transmitter license?
The government clearly wants it both ways. Cryptocurrencies are a real bitch for them because there is no one to point a gun at and make it stop. |
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The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling. To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales. So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.  |
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Another noob, another dumb post.
OP, going from $0 to $450 in 5 years isn't a slow rate.
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The number of scams has actually decreased from what I can tell - its just that the mtgox one was so big.
There seemed to be a new scam every week in 2012.
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What a fake poll. 80% of the country doesn't even know what bitcoins are. Since something like 90% of Americans have never heard of bitcoin this statistic can not be true.
And I am sure that they are the ones who want the government to ban Bitcoin. People can't want to ban something that they've never heard of. How are you able to type with all the drool on your keyboard? Don't bother answering, I already ignored you. |
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