Then tell list down how you obtained those bitcoin, along with acquisition costs.
How do I list acquisition costs for bitcoins, which are earned from signature campaign, giveaways, ad space selling, social media promotion ? |
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Tell your tax guy you traded in an asset called Bitcoin, and that you need to show your profits as Capital Gains. Then give him your transaction history, including all Sells you did in the last financial year. If he still does not get it, tell him to think of it as a new stock scrip called BTCX and to use your txn history for comptutation. If he still does not get it, run from that guy.
I think, by trade, it means buying & selling. But, I never buy. I earn and sell. So, I guess, capital gain does not apply to me. Everything that I have sold needs to be shown as earning. By transaction history, do you mean the blockchain Tx details ? That is Hebrew to him. I like your idea of showing it as an asset. I am planning to show it to him as 'Earning from Digital Asset Sales' and provide bank transaction details against those sales. If you have used only Coinsecure, you can use my tool CoinsecureCG ( http://coinsecurecg.appspot.com) to compute your Capital Gains. You can print out the CG computation page and give it to your tax guy. I dont touch centralized exchanges. Sorry. LBC & 100bit.co.in are my preferred one. |
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min trade 0.007  What's wrong with that ? |
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You have one unconfirmed input of 0.0549 BTC in this Tx.
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cloudmining today is either scam, not profitable or both. I'd stay away from it, there are better investments with high risk / decent rewards
Could you please suggest some better investments with high risk / decent rewards ? Mining where it is cheap electricity, or a good cloud sites. Not all are scams, I trust two personally sadly yes most are scams. But other is investing in altcoins (highly risky), or other trading. Or if you have a good skill you can sell it to others here. Except for Cex.IO, which own the pool Ghash.IO, all other cloud mining site are equally shady. Alt coins are just gambling. They are not investment. Selling skill is earning. That is not an investment. I asked where the earned coins can be securely invested. By security, I dont mean that I can not lose. I know every investment comes with a risk. I only wanna make sure that the service wont evaporate overnight with my coin, the kind of guarantee I get at services like BitPay, CoinBase, Circle etc. |
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Like 'Bitcoin Profit', 'Earning from Digital Credit', 'CryptoCurrency Sales'... what ? Please note that, I am not asking about how to calculate it. I want to know, how to mention the earning incurred from selling bitcoin, that was earned through signature campaign ?  Have you filed any IT Returns ever? Which form has a place to write random notes like that? No. I have never filed IT return myself. My tax guy does it. But he does not understand bitcoin et all. So, I need to explain this earning source to him. No idea how he'll put it into the ITR though. |
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i'm not sure what you exactly want but you can use bitpay, apply for their merchant and generate api key and use it with the payment plugin
I think, bitcoin gets converted to FIAT using BitPay. If one wants to accept bitcoin as it is, then will BitPay work ? |
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Like 'Bitcoin Profit', 'Earning from Digital Credit', 'CryptoCurrency Sales'... what ? Please note that, I am not asking about how to calculate it. I want to know, how to mention the earning incurred from selling bitcoin, that was earned through signature campaign ? |
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I think these would only be INR based. So no immediate effect on bitcoin.
I think, the bitcoin businesses, that holds INR in their site wallet comes under this regulation. In fact, it will be interesting to see, if this semi-closed interchangeability comes into effect. Imagine, if you can move INR without friction between PayTM, FreeCharge, UnoCoin and ZebPay. The positive bit is that RBI seems to be moving forward on regulation. It is no longer clamping down hard on anything to do with money transfer.
I think, RBI has always been protective about Indian economy. Because of the foresightedness of RBI top brass, Indian economy has been saved from many economic turmoil. |
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hey mates I want to sell 1btc at 18500rs please contact me if anyone is intrested
Creating a sell order on www.100bit.co.in and an ad placed on www.LocalBitcoins.com might work faster... |
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I haven't, I have not even tried LocalBitcoins (I've checked the site, but I am not willing to sell under the market price, I would rather buy something directly).
LocalBitcoins sellers get higher than market price, not lower. About this other site, I do not like that they give very few information prior to registering... I cannot even find the list of currencies supported, nor I have an idea of how many local buyers/sellers could I find there (and if they are trusted).
This is a new site with certain advantages of LocalBitcoins. Of course the volume is low. But, signing up does not cost you a penny. |
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cloudmining today is either scam, not profitable or both. I'd stay away from it, there are better investments with high risk / decent rewards
Could you please suggest some better investments with high risk / decent rewards ? |
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Do you trust CoinBase.com ?
well that is an easy big NO
i never have and never will trust an online wallet, especially a wallet that i don't have control over my bitcoin which is no access to my private keys.
additionally they have a lot of ridiculous rules which allows them to easily disable and block your funds.
this is not the way bitcoin is meant to be used.
Is there really any case where CoinBase has locked the fund ? AFAIK, they deny to transact in some cases. But, never heard that they denied refund or locked the fund. |
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Posts have been counted and the new chart will be up about 24h from now. Payment should be done shortly
Thank you all for posting
Re-enrolling... Name: RocketSingh Posts: 756 ( including this one) Activity: 462 Position: Sr. Member Address: 1Dk4Si2w8StdGVsMW7AYMchTf99NKdVec8 |
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hi dude, i want sell coupon Google Cloud $500 .. Price $28 / 1 coupon Payment BTC only ..  NOTICE: Coupon is only available for 1-time-use. Instruction: Go to: console.developers.google.com/billing/redeem Then put your coupon following the direction. As your screenshot indicates, it is a Google Cloud Platform Starter Credit. So, I checked... https://gcp-coupon-redemption.appspot.com/redeemCouponFollowing is stated in the link... Cannot be used for cryptocurrency mining. Credits expire 3 months after redemption. Only for new accounts. One promotional code per customer. So, as I understand, I can not use it in an existing Google App engine account, where I am already billed with my Credit Card. Please correct me if I am wrong. |
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Do you mean that you are selling USD 500 coupon for USD 28 ?
yes guys i sell coupon $500 for $28 usd payment use BTC ... very cheap right Edit: quickly booked price discount, coupon $500 only pay $28 ... woow  Can this coupon be used to pay for Google App engine billing ? |
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As the people here have said... the hard core coiners keep their funds on a cold machine, and only put them on the hot machine after they are signed. If your have your 401k in BTC that is the only way to fly. Now the further you get away from that hyper-paranoid config, the higher the risk of getting your coins stolen by someone who finds a kink in your security. What you propose... a remotely accessable hot wallet is about as far away from cold storage as you can get... but for the sake of having said... here's how to do it.
I dont think you even understood the requirement and hence given long lecture on clod storage. In a website, where funds are coming in going out every minute, how do you make things done only through cold storage ? You have to use either JSON-RPC with Bitcoin daemon (which I asked) or use an API to do real time operation. A significant part can be kept in clod storage, but avoiding hot wallet is impossible. And the solution you have given after that is good for HTTPS researcher, not for a bitcoin based app developer. This list is by no means complete... it is just what I thought up over my sandwich at lunch..
You should have concentrated on the sandwich rather than trying to mess up a tech problem. Just a word of advice. If you dont know a certain subject, better not try to give lecture about it. It only makes you look ridiculous. |
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Do you mean that you are selling USD 500 coupon for USD 28 ?
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This crazy broad law means the FBI can put you in jail for 5 years anytime they don't like your business. Nearly every version of bitcoin business exposes its principles to 5 years of jail on the whim of the FBI. https://coincenter.org/2015/07/does-18-u-s-c-%C2%A7-1960-create-felony-liability-for-bitcoin-businesses/If you are going to start a bitcoin business in the US, it better be loved by Uncle Sam, the church and everybody - or you are going to jail. It is no wonder Wences, Vik Buterin, and hundreds of others have packed it in and left for Zug Switzerland. The Fed is truly going to run all bitcoin innovation out of the US. They already have a very good head start on that. What else you can expect ? The Fed has no incentive in allowing bitcoin to grow, but they have enough incentive to force people in using USD. So, they are doing what they are incentivized to do. |
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Here is a suggestion to improve CoinLearn. There have been more movies released regarding bitcoin since the The Rise and Rise of Bitcoin. So, you might add more movies and show them alternatively under www.coinlearn.org/movie.php |
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