It'd going to depend on your country, but in my case (EU) you pay tax when you sell your coins and the profit is what you subtract your tax from.
For example

You bought 2 bitcoin for 25000 each
and you sold 1 for 30000 the next year and another for 40000 a year later. In the first year you only declare the gain from your first bitcoin, so 5000 in profit and that's your taxable income. The next year you report the sale of your second bitcoin and declare 15000 in profit and pay tax from that amount.

In most countries you don't have to pay any tax if you don't sell your bitcoin and don't profit from it. Both of these things have to occur for a taxable event to appear.

Don't do it. Spare us your brain fart.


Nothing like starting a thread with an insult and hoping to start a conversation? Unless you just want to insult us and there's no other purpose of this thread, in which case you're doing a good job. Keep it up and I hope mods will eventually kick you out of here for wasting our time.


Ph. D. of what? Theology, like Craig?

I like Hondas. Civic type R is a beast.

This is going to hit the news channels for sure and maybe show people that more and more companies begin to trust bitcoin.

I don't expect many people to use this payment option, but let's also not underestimate it. There are millions of people holding bitcoin and we're about to enter a post-halving bull market. Some people will want to realize their profits by buying a car and accepting bitcoin is like extending a hand towards them and saying: come to us, you don't have to pay exchange fee and then bring us cash, we'll take your bitcoin.

If you go through what CSW has done you'll know what incentive these people have.

CSW became famous for trying to prove he's Satoshi and failing but his name became known even though it was infamous.
He then proceeded to make his own shitcoin and run a smear campaign and hash attack on the original bitcoin with the help of his friend Calvin.

It's all about the money.

I agree with you OP and the reason for that is that people often can't do math and they don't realize how much they're really making (or losing).
Let's take trading 1 BTC. Most people think that they'll buy 1 bitcoin, wait for it to go up $200 or 300 and sell for easy money. Bitcoin often does these moves so we should all be trading to get second income, right? No! Exchanges have their fees and if the fee is 1% and bitcoin costs 26000 that's $260 and you pay that twice, when you buy and when you sell.

Now a newbie thinks about it and answers - fine, so I need bitcoin to pump by $600 and I'll make money. Technically yes but is it worth it? You're risking 26000 to earn $80 and then you have to withdraw. Even if you withdraw to your wallet and there's no exchange withdrawal fee you'll probably pay $5 for the transaction.

If you decide to cash out at an ATM that's going to be another 2% so about $15.
You waited for bitcoin to go up $600 for a few days and put 25000 on the line to get $60 in cash. Congratulations.

KYC goes against the principles of bitcoin. There shouldn't be any problems if you didn't undergo KYC because you're supposed to provide basic information like your full name, email address and often a phone number. This, along with your country of origin known to the exchange through your IP is enough to confirm that you were the owner of the account.
I'd say that rule number one for everyone should be to move your coins out of exchanges if you're not planning to sell for at least a few days, but people are often too lazy to do it.

RawDog used to rant on youtube a lot.
Couldn't find any of his videos now.

I saw him mentioned in another video here and comments say he deleted his channel
https://www.youtube.com/watch?v=wiPqpE775J4
IMO he had some mental issues.

If you're looking for people with similar mindset, here's one:
https://bitcointalk.org/index.php?action=profile;u=2860144

That's why you need limits on your card. I have a single transaction limit of around $250. If I need to buy something more expensive, I'll use cash. I also have a wallet that blocks my card from scanners. It can be used only if it's out of the wallet.


The apps are also a positive addition because they send you messages every time your account is charged. If I saw a transaction I didn't make, I'd use the app to lock my card.

If somebody can make you enter pin code they can also make you give up your bitcoin.

One of the things I've learned is that you shouldn't accept half measures. If you want to eat pizza, but all you're able to buy is a hot dog, don't buy it. Find a friend who can share a meal with you and get a large pizza together. Think, don't give up!

I'd never choose to start some other business with 15k but try to make the remaining 5 somehow and invest in that dream business that I've always wanted.

Investing is another option. At this point it's almost 100% certain that next year bitcoin will be worth more than it is today. You can't lose money here' unless you get robbed, hacked, make a mistake in storing your coins or something like that. The price will be higher but it doesn't mean you'll have any bitcoin to spend by then, so there's always that little bit of risk.

I'd say we're still in a state of war with many governments, like in the US a number of politicians supports bitcoin but there's some that are against it and are trying to build their careers on being crypto haters.
Some of these people rarely talk about any other important matters but when it comes to cryptocurrencies they're as vocal as ever. Fortunately most of those haters are past 70 so they lost and bitcoin won, the way OP said it. They are running out of time but bitcoin can go on for decades.


Really? Tell that to China. Guys, unban bitcoin because I know that deep inside you know it's your friend!

If there is a bull run and if that bull run takes us above the current price. I'm sure bitcoin will go up but we don't know when and for some people investing for another 5 years is hard.


What does this even mean?

Please read your text before posting next time.


And what if it doesn't? Do you have a backup plan?
People who have high expectations towards the price usually take it the hardest when it underperforms. Don't be one of these people.

Bitcoin and altcoins are two completely different things. People only look at the protocols, blockchain, rewards, transaction speed, but they forget that bitcoin is the only crypto without a company or a real person behind it. Vitalik is dumping his ETH on investors which is why if you biu ETH or ADA or XRP you finance the company that launched it.

Bitcoin is something that you own 100% without any interference.

That's why bitcoin isn't risky at all. In the long run it goes up and if run scared every time it drops by 5% maybe you shouldn't buy it.

*2013
It's a shame the author isn't around anymore. Would love to hear his story.


This has a lot in common with religion, cults, and similar things.
Even though I'm a hodler myself, every time I read something like this makes me think of how crazy this sounds to an average person, especially people who trade stocks or currencies.

Have you noticed that OP is trying to make it look like every October is green, but there's a reason why the list is lacking a few years, mainly
2012 -10%
2014 -12%
2018 -4%

a +5% in 2022 is actually like no move at all. Bitcoin experiences moves like this almost every month so getting a + or - 5% can be a statistical error.
Don't get too excited.

The market reacts so much to the slightest piece of news about ETF and Gensler that you can get +10 or -10% this month without any real news about bitcoin.

Waaay too much effort for an off-topic reply.

You made it into a dissertation

His only fear is that someone calls him out on his bullshit

Let's ask ourselves who he really is.
Is he a bitcoin lover, or maybe a freedom lover. Is he an entrepreneur, or a publicist. Is he a youtuber, or an economist?

As far as I know, he only made money from his books and courses and we don't know how good his investments did because he won't share any details. How can we trust a guy who says he's rich and successful investor when he won't tell us about it, just gives advice for the future.

Didn't he lose a few businesses until he finally make some money selling a book? The book isn't even good. He just tells you what to do in general and most millionaire youtubers who share their secrets will tell you more or less the same things. You don't have to pay for a book to have an idea of what it's about.

They say we face the millennial problem where people who are in their 30s can't afford their own apartment or a house, while their parents were often able to do that in their 20s. I know that because my parents had their own homes before 30, but I've managed to get one only because my partner had it. I wouldn't be able to afford it otherwise.

I also agree that males have more on their heads because they're expected to provide for the family. You have to be much smarter than you needed to be 30 years ago to achieve the same position at work and have the same wage.

He's one of those young politicians taught by Klauss Schwab



Schwab once said that he's proud of the achievements of young leaders like Macron and Trudeau.
They know that if you cut people's access to money, you force them into submission.

When it comes to large transactions a bank will often need days to process them. They can't get you 10 million just like that. They also will not allow you to withdraw large amounts in cash. Many banks will need a couple days to get you a simple 100 thousand and will require you to give them a heads up.

Banks will not process your transaction on Sunday so how is that faster than bitcoin?

It's also cheaper when you send money to a different part of the world where banks don't recognize your local currency and you need to exchange via bank.

I agree with you guys, there should be age limits, not to mention that these old people often don't understand new technologies. They talk like they still live in the past.
 
Recently I've seen an 85 year old member of Congress Maxine Waters say that the US should accept CBDCs as fast as possible because China is doing it and we don't want to lose the race!
It's like a race to prove who's dumber, the US must to do what it can to win...

Elizabeth Warren who knows nothing about bitcoin but tries hard to ban it is 74.

These people should retire.