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pro-tip: Whales don't join a "whale club".
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Of course they are. It is the law. It would be ridiculous to assume that a highly profitable, legitimate business would throw it all away to help you evade taxes. If you haven't filed yet you have until midnight. After that you will normally owe a 5% penalty. You will also still owe any capitol gains. Of course if you lost money you can claim a loss and reduce your taxes.  |
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Bull shit. Bitcoin is not haram. Nor does the OP know anything about Islamic law. I have plenty of friends in the middle east who use bitcoin all the time. Loans are forbidden, gambling is forbidden, but not bitcoin. By the way, Christians who use loans are dammed to hell. But who gives a f#@< about 2000 year old superstition? That's bible law, not mine.
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If you divide a Fibonacci number by the total supply of bitcoins then plot it as an Elliot wave disguised as a Mandelbrot fractal you will still have no idea what the future holds. Math!  |
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If im wrong, im certain a particularly knowledgeable heifer will step in and correct me, but no bullion transaction under 10k (or multiple in one day totalling more than 10k) triggers the bullion dealer to file a 1099-B...
I have bought from Amagi and I think Velt Gold. I have bought up to 10oz. bars and although they were over 10k I did not receive anything from them for tax. My understanding is that only purchases of Kilo bars are reported. Of course you still owe tax, but it's on you. |
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Still looking for 100 acer + land in Washington state. Priced in bitcoin.
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Got in at the height of Jan this year and all holdings lost more than half from the previous peak.
Very frustrated and was afraid that crypto will be zeroed out, so sold at massive loss more than 50%+ realized loss
After sold last week, all coins came back up 10-20%, even more frustrated, what to do?
Consider that you suffered no loss at all until you sold at a loss. You are going to feel even worse if we top $30k later this year. If you really must "invest" in bitcoin rather than use it as intended, then never bet more than you can lose and never take less than what you paid. |
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Hmmm... I guess I would say "How the F#@< would I know?" Do you actually think someone here knows the future?
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
I guess I do see that. But maybe we should expect it. When this was a small project the people who were interested were money nerds, hackers, economic freedom types. These demographics are people who basically understood the ideas of the white paper. When the price went silly high it began attracting more and more delusional get rich quick players. Increasingly people said they were "investing" in bitcoin, not using it. The irony is that sort of activity is not very productive in an economy and creates wild swings in valuation. As long as we have a speculative economy you should expect boom and bust cycles with 50% + drops. Since our new "investors" often have little or no knowledge of programming, cryptography, or economics... They are easy prey for alt-coin scams and fear based social engineering. It can all make for an ugly scene, but this is what we have and none of us has any more power to change it than the next guy. |
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I'm not a brother, but I have spent a lot of time in the middle east and have always thought of bitcoin as halal. Many of bankings traditional roles are clearly haram for Muslims. Things like lending are forbidden by anyone who claims to follow biblical law. Not that many Christians or Muslims follow those rules.
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There are some businesses in my area, but no supermarkets. If there were one they would know my name.
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Depends on the country, but in the U.S. a business is required to know their customers and are responsible for anti money laundering efforts. What they request is up to them but will certainly require a state issued photo ID, among other things. If you turn out to be a money launderer it is on them as well. So a legitimate business is not going to trade currency with anyone they don't know.
There are sites that do not require AML/KYC. However you may be foolish to trade with them since they are engaged in a criminal conspiracy. If they are not going to follow the law then why not just scam you and take your money? What are you going to do about it? Call the police and explain that they guys laundering your money stole your bitcoin?
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Over the last decade, there have been many colleges and universities who have been caught approaching homeless people on the street and signing them up for educational government assistance (aka: "state funded student loans")...
What, lol. That is utter nonsense. |
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There are only 2 things that can raise the price. An increase in supply. Which did not happen because bitcoins supply is constant. Or an increase in demand. Someone bought a chunk of coins.
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I don't see what the big deal is? I will definitely be offering my home for sale in BTC when I move. And I plan on paying in bitcoin when I buy. Bitcoin is money and everyone seems so shocked that people will sell their home for money.
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Several transactions of mine have gone with 0 confirmations in the past several days. And some of those I was paying 1.5X or 2X the recommended fees. Nothing. Nada. Zilch.
Bitcoin has gone from being an expensive network to use to a practically unusable network. I was defending Bitcoin against millions of tards back in 2011 and 2012. Are they going to have the last laugh on me now? It pisses me off to actually see some of you defending this too and saying "this is the way Bitcoin is supposed to work". Umm... NO IT IS NOT .
I have ZERO confidence left in Core and their "developers". Their network can't handle the slightest bit of volume without totally seizing up. And then Adam Back is out there with the press talking about Bitcoin vendors and merchants running a tab system?? Really?? You can't do your job properly so you want people to run a tab in BTC?? You saw this coming from 10 miles away and did nothing about it. Stupid or malicious?... you decide.
I will be converting my remaining BTC to BCH, Dash, XMR and coins that actually work! And coins that have teams that have at least a Grade 7 level understanding of economics, ie.. "when you are at capacity, you open more locations". And not throw out "but but centralization!!" juvenile red herrings!
Long time Bitcoiner of 6 years here saying, "SEE YA LATER! CASHING OUT NOW!"
Good for you - you realized it is good for absolutely no practical purpose and was lucky to sell at around 16.000 - as opposed to the "HODL" cult members in here you are stuck with counting their losses and clining to hope as their only strategy Wait a minute! KwuckDuck is that you talking to your alts again? Lol, welcome back. |
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It's a ban on SCAM ads. We should welcome it.
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The problem is that a public key is worthless. All that it can be used for is receiving money. It is no more help than any public key. There is no path to your balance other than entering the correct password. So sorry man.  |
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Good question and good discussion. Merit for all! lol
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