Im a US citizen and am still confused with the current crypto tax interpretation. In October of 2017 I traded some litecoin for another crypto. Then in January 2018 the tax bill passed and eliminated the like to like exchanges of crypto.
My interpretation is that since I made the trade before the law changed then I did not create a taxable event. Am I wrong in this interpretation?
Bitcoin is not an asset and one should not pay taxes on Bitcoin or other cryptocurrencies as this is called a digital currency and has no physical existence and besides it this is not the asset of a center so we should not pay and why should we pay tax if we are working without the help of others and making money for ourselves without the involvement of governments then it is all ours to keep. |
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It could or I mean you could become a millionaire if you know how to play the trading game. I had invested in ripple last year andnit was actually one of the coins I bought and thought would make me rich until such time it dropped to a couple of dollars and had lost its credibility. But I wouldn’t mind giving it another chance though.
In my opinion, ripple has lost the potential to make you a millionaire though it can give you short profits, I do not think it will be able to come again with long term big profits. The other thing is that people fear investing in centralized currencies and ripple is one of them in which the risk to loose is high as compared to the decentralized currencies. |
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Username: huige007
Post count: 440
Rank: Sr. Member
BTC address 1PSeqy36fZR7CL8oXFqdgHt8smovXtNff5
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Why not just share your fund into two and invest most part of it to to bitcoin and the remaining part to ethereum. I think it is wise for you to invest your fund on the two of them so that if any one of them fail you will still have opportunities to make it from one and if both succeed better for you.
I chose both Bitcoin and ETH for long term business because both have been the top spots for investment and profit maximization. Also the price stability is one of many desired things an investor looks for and the current stability in the value is a future incentive. The ratio of profit in the business is high and keeping the portfolio for a long term renders you reap big. |
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Last year alts rise a lot. I dont know the average percentage. But when I check coins in the market at year 2013 lots of them dead now (too low ranks). probably new tech coins won them (like peercoin, namecoin, ixcoin etc) Also we are following new ICO s and most of us expecting too much gain from new coins which are not at the market. If our ICO expectations will happen, when they added to market, current market coins will go down. kind of paradox  There is always that risk if you want to hold coins for years but risks will result in great gains if successful. All you need to do is follow the project and monitor and decide for your self if it has a future. yes it's right but only shitcoin are dangerous to hold for years. you must sell shitcoin when it give you in profit we can hold only valuable coins for years then it will give highest profit in return of investment. if we hold bitcoin and eth and bitcoincash for years then we will in profit but all shit coin are hold in result you will lost all you money. |
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Well, They always say, "Buy low, Sell High!"
What are you buying now?
now i buy ripple because ripple is now low in price and i will sell it on high price, and i also buy electronium these two coins are now i so low price they made ground in crypto market and now in low price i hold these two coins tell end of this year and i hope it will give me high profit because ripple are now in 82 the prediction of ripple is it will reach to 2 dollars |
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yes my money is safer in crypto currency instead of banks. in crypto currency no government are in enter interference and i can do trade easily its my future investment and i safe it fro my children i can easily and fast transfer to an other city but in bank my money is not safe i paid taxes on every year i didn't withdraw my money on holydays from banks in crypto in feel safe.
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Since the second week of April Bitcoin price has been in the uptrend mode and has held above $7500 since then. I think there is a bullish trend formed which means the trend will continue till we make a new high of about $12K since the end of January 2018.
I do not mean to be a pessimist but looking at the condition of the market for a while now, nothing serious should ever be expected. We may get to see a bullish trend if we can have a break upward from $10k and $11k, but this is something that we can only watch out to see how the trend is going to be acting like in coming days as there is really nothing we can tell now except to just wait and see how things will end up. Hopefully, we get to see this and even if we do not, we just blend in. Bitcoin is going at the highest value this year because we have seen the highest price last year was about 23k dollar or may be 25k dollar. Whatever the price was but we have imagined that the demand of Bitcoin is increasing and the ration of the demand is more than that of the last year ratio so automatically we know that the price will increase at the highest possible value. |
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How do you trade? Do you still follow the buy low and sell high? Are you still looking on the charts to predict the future value of the coin? Or Do you just use your instinct and trade base on the volume? Some people are still panicking if their coins go dip and just sell it before they lose greater sum of money. People whose enemy is their own emotions. For me I am studying the charts of the coins which has a high potential to pump even though I'm not sure if it woll really pump. If not, I'm just holding it until it does. I am controlling my emotions and think calmly so that I can resuce the mistakes that I may done with my decisions. How about you?
It's easy to become a trading, especially if you have investment, it's hard to be trading when there is no investment. To become a trading you must first invest in trading in different cryptocurrency, before trading is required to register at their site first. I do not trade I have invested for a long term and always prefer long term investment so that I get the huge profit from the crypto market and that is Bitcoin I invest in. I have invested and now waiting for the price to jump so that I may sell out my coins and get excellent returns of my investment. In order to survive according to the market you should look into everything. |
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The first thing you need to know about trading cryptocurrency is that there is no guarantee of any sort that you will make money as a result of trading. In fact you may lose all you have while trading. Know what you are doing and be safe.
if you dont have enough coins and brain to rule the market - be prepared to loose. Or just dont be surprised when it happens. More than the number of coins, it is brain that can save a person from losing money. It is only possible if a person gathers good amount of information regarding his coins and trading. He must pay a close attention to the changing market daily and whenever there is a prominent boost or fall in the price, he should sell and buy coin respectively. In addition to this, courage and persistency with patience matter a lot. You should know all those rules and principals that are necessary to use and apply in the market in order to survive and earn from here so that you are in benefit and get for what you are here. Now start research on the coin you want to invest in and if I prefer you Bitcoin as the most popular due to its response as you should learn about that. Your trading will be successful. |
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Now is the best time to enter or buy Bitcoin, while other is not familiar and not aware about what Bitcoin can give, there so many chances and opportunities has a Bitcoin can offer and I think this is the best time to buy Bitcoin while the market is lower it is risky but it is good to invest Bitcoin it has a lot of chances and opportunities to go up the cryptocurrency, it's not too late to join but it is a fault to ignore the chances we must take action and don't panic!
It is a very perfect time to enter into the Bitcoin market because the market price is stable and achievable for an ordinary person in order to wait for the price and sell out at higher price than the price of buying results in profit. The price is 9.2k dollar and is affordable that is an opportunity and we should caste this opportunity so that we will get what for what we are here. |
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I see a lot of bounty programs on the BCT, but I do not know which bounty program is good, there are many fraud programs. Can you give me advice ?
yes it bounty program is good but you should check the nature of project before joining the bounty programs you should read the white paper of project it is important thing in which all the detail are listed about project. and search about the project developers that is real or fake. if the project become fake then it will wast all your time and the coins are worthless. |
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How much do i need to start trading altcoins. I would like to know what would be the ideal number.
Thanks!
if you don't have experience of trade and new in market then your initial investment must be very low amount because risk is alive is every investment. |
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we all will e come billionaire when 1 satoshi will equal to 1 dollar. and it will happen in nest 30 years.
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ETH prices are down very low. Is this the right time to all in ETH?
yes i think it is right time to invest in ETH it is a valuable currency after bitcoin if you did not investment in eth do some research for your self and invest in eth. i have done research on eth some of prediction says eth will reach 5000$ so i invest my money in eth and i will hold tell 5000$. i hope eth will give me highest profit in return. |
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personally, I think that bitcoin has good prospects for growth and in 2018 will reach a price of$20,000
yes i agree with you bitcoin will reach 20000$ but it is the target it will cress tell august and in some prediction bitcoin will cross 50000$ because their are some big investors who also invest money in bitcoins like Russian hotels and cocacolla. now every one want invest in bitcoin alot of people are aware from bitcoin that's why bitcoin will never die and it will continuously increase their value. |
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Buy BTC are less risky but you should be patient to get profit. Beside that invest in ICO doesn't need long time to get profit but there is bigger risky than invest in BTC. Risk of SCAM, not valuable, and many more. Atleast invest in BTC it's pure LEGIT and never be unvaluable if the price drop and will recover again.
Correct - Bitcoin is not as risky as ICOs but you have to wait for a long time to get the profit. I suspect that BTC will not have so rapid growth now as it showed in December 2017 but it will be slowly gaining. Bitcoin is the most promising crypto coin on the face of Earth in terms of profit as well as anonymity, security, bright future and freedom of control. It is grabbing fame with every passing day. Many people were able to improve their life standard dramatically with the help of bitcoin. Moreover, only this investment has so far produced millionaire from mediocre. Bitcoin ought to be the top priority. |
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Simply one thing which causes a huge losses for anyone's life is his /her greed.Most of the people are getting into gambling to make money with greed but normally most of them will fail in that so be smart and use the gambling why it was meant for.
But sometimes, if you believe in greed is a chance to earn a lot of money it's good for me. Not all greedy will bring you to lose money, but it's good greed accompanied by the common sense that makes you sure get more money. Likewise with gambling, if you believe at the time of gambling you have a strong instinct to win gambling then that is good greedy. I think you are talking about eagerness in getting rich which surely gives us the mental power to reach the goals of our life but it may not be suitable for the gambling which only depends on luck so the mental strength ha no role to play with it. Everyone wants to become rich in his life. It is desire of every person to live a tension free peaceful life and money is considered as the remedy to all problems. It is a common view that money can bring happiness and peace. Chasing money is also healthy if a person does not go with the wrong methods. Gambling indeed is an incorrect way of getting rich. Actually it does not work at all. |
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Sometimes we make a betting game about the show that we are watching. We have our own choices on who will die first, who is the mystery character or who killed the person. Things like that makes gambling very exciting.
Sometimes starting a gambling game could be the worst thing we could ever done in our entire life, it could be fun at the beginning because you are winning, but what about in the long run, I hope all of us who are playing gambling does know that gambling is not going to gives us profits always because it is all about losing, unless you are a lucky one. For me i don't even believe in gambling for a long run because as a gambler the odds are already against you and so your losses are definitely going to outweigh your wins and so it's best to manage gambling within a short and specific times andgambling continuously for a long time because that can be addictive. I don’t believe in this game even for a short run. Gambling is a dangerous game and luck can hit us hard whenever it likes to. The more time someone will spend, definitely his loss will get bigger with every shot. It is a myth that casinos will lure novice gamblers by allowing them to win some games in beginning but there is no hard and fast rule that owners will shower this mercy on every customer. |
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I agree with the OP, and it is not all the time that the price is down as well so it really is up to you if you want to sell your coins and have losses or hold them and wait patiently until it reaches your specific target amount. It will take some time but at least you wont have losses.
In crypto market, big losses come with only small knowledge of coin. Another reason can be a wrong choice which again depends on the understanding of investor regarding all potential coins and their future. There is no way that an investor will ever lose money if he won’t be impatient and keep his coin with him in every storm. Big gains come with big patience in crypto market. |
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