What do you tell people who ask "how much bitcoin do you have?"

[Mike Christ]

I tell the truth. I had tens of thousands of coins at one point. Gave many away, lost some, bought a bunch of worthless crap, and got scammed out of the rest.

It was for the good of the BTC economy. 

[johnyj]

A universal answer to such kind of question: Two bags 

[Charm Quark]

less than BTC0.5

Which is technically true. Open my client and you will see a balance of 0.3. Nevermind that flash memmory stick around my neck

[Herodes]

I have never understood why people think it is such a taboo to talk about ones net worth or salary.

I think many people are jealous, and if you told them you had a million dollars, they'd view you differently and expect you to pay for everything 'since you're rich'.

If you have a couple grands, that's not special. But once you have a lot of money, people around you start behaving differently.

[Realpra]

I have never understood why people think it is such a taboo to talk about ones net worth or salary.

People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

[Garr255]

Not enough

+1

+1

[Mike Christ]

People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

This.  I don't mind revealing how much fiat I have (paycheck to paycheck; no more than $2k at any point in time,) but when it comes to BTC, and how much I value that BTC, as far as anyone's concerned, I don't have any.  At least not on this computer, or any other computer that may or may not exist.  Also, it's easy to steal BTC; you can do it anonymously, over the Internet, without any repercussion.

[giszmo]

Some family members might know and might also know how to get hands on them in case I hit a bus. When others find out, it is because I'm not too paranoid about friends knowing that I have some bitcoins but I would make sure to move them to have plausible deniability on still holding them when the bitcoin 100000-folded.

[darkmule]

I have never understood why people think it is such a taboo to talk about ones net worth or salary.

It is linked to the culture and the general financial situation of a population where you grew up. I have a couple of Haitian friends down in Florida. They are sending money to families members back to the island. Kidnapping for ransom is sadly a regular hazard over there. Broadcasting your wealth or the perception you may have more than the "average" (in some part of Haiti, not the whole island) would be like putting a bulls-eye on your back.

Not to mention that if the number is particularly large, even if you aren't facing kidnapping for ransom or similar situations, loose lips could incline some bastard to rat you out to the IRS just to screw with you.  Even if you are honest on your taxes and pay what you think is appropriate, what is the proper metric for taxes for BTC that appreciate in value?  Do you owe the taxes at the time you convert to fiat or at the time you earn it?  Are they short-term capital gains taxes or something else? 

I don't really have that much in BTC as I am more or less broke, but I recently realized when the price of BTC spiked that the BTC I just kept around to gamble with is suddenly actually worth real money.  I now have more BTC than fiat.

[Rincewind]

I have never understood why people think it is such a taboo to talk about ones net worth or salary.

People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

People will beg you to give them money because they're poor and "you can afford it," or because their church needs renovations, or something else. Just kill me, take my money, and get it over with already.

Winning the lottery sounds great too until all those fourth uncles on your mothers side start crawling out of the woodwork looking for a handout.

Don't tell anyone what you have unless you're willing to hurt them to defend it. Money makes good people do dumb things.

[JordanL]

4,816.

I'm not what most consider an early adapter, I bought in last summer at ~ $13. However, in reality even those who just heard of Bitcoin for the first time today are still early adapters. Wait until it really catches on.

People searching for the latest altcoin and/or saying BTC mining is "not as profitable as others" are missing the point. Those who mined the first few hundred thousand Bitcoins were mining at a loss, according to the method we currently use to calculate profitability. There is one digital currency that will soon be the standard for online transactions, and this forum is named after it.

[Dabs]

I lost most of it on online gambling. Don't tell them about the paper wallet, stored in a sealed envelope.

[qxzn]

Not to mention that if the number is particularly large, even if you aren't facing kidnapping for ransom or similar situations, loose lips could incline some bastard to rat you out to the IRS just to screw with you.  Even if you are honest on your taxes and pay what you think is appropriate, what is the proper metric for taxes for BTC that appreciate in value?  Do you owe the taxes at the time you convert to fiat or at the time you earn it?  Are they short-term capital gains taxes or something else? 

I'm no accountant, but I believe the rules on this (in the U.S.) are quite clear. When you sell your bitcoin for fiat, that's the taxable event. At that point, you need to specify a cost basis and determine your income. short or long term depends on how long you've held the coin.

[jubalix]

People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

This.  I don't mind revealing how much fiat I have (paycheck to paycheck; no more than $2k at any point in time,) but when it comes to BTC, and how much I value that BTC, as far as anyone's concerned, I don't have any.  At least not on this computer, or any other computer that may or may not exist.  Also, it's easy to steal BTC; you can do it anonymously, over the Internet, without any repercussion.

I wish I had bitcoins.....but I got in to late....so I just use them for currency....!

[Hfleer]

I have never understood why people think it is such a taboo to talk about ones net worth or salary.

People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

People will beg you to give them money because they're poor and "you can afford it," or because their church needs renovations, or something else. Just kill me, take my money, and get it over with already.

Winning the lottery sounds great too until all those fourth uncles on your mothers side start crawling out of the woodwork looking for a handout.

Don't tell anyone what you have unless you're willing to hurt them to defend it. Money makes good people do dumb things.

Good people, no.  People who fooled you into thinking they were good.

[n8rwJeTt8TrrLKPa55eU]

With all the news coverage over the last month I have had countless people ask me. Most normal people can't really say "just over a million dollars worth if i cashed out" without some repercussions.

I wonder what some of you early adopters say to these people.

I suggest you tell people that you have a ton of coins, safely stored in...Instawallet.

[crazy_rabbit]

With all the news coverage over the last month I have had countless people ask me. Most normal people can't really say "just over a million dollars worth if i cashed out" without some repercussions.

I wonder what some of you early adopters say to these people.

I suggest you tell people that you have a ton of coins, safely stored in...Instawallet.

I always tell the truth. Not enough.

[oakpacific]

OMG John, I didn't know you have got a job with the (name of the taxing authority)! Congratulations, wanna treat me to a drink?

[Dabs]

How much did you get?

30 pieces. of silver.


How does that sound?

[Amitabh S]

I say. I have 5000 bitcoins...
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...
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2000 in instawallet
2000 in torwallet
1000 in btcst

(all respect to Paytunia. I trust their honesty but they still got hacked)