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TraderTimm
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November 27, 2016, 04:19:09 PM |
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Needs proper date formatting to be in the News Section.
As for saying "I told you so", did you really think that anyone here thought governments wouldn't mess with Bitcoin? And why are you so smug about it? Its ridiculous.
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fortitudinem multis - catenum regit omnia
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jyakulis (OP)
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Activity: 468
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J
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November 27, 2016, 04:25:18 PM |
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Because of the heated arguments that were on here arguing the ruling bitcoin was a commodity was a good thing.
No its ridiculous no one in the community had the foresight to speak up.
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bitcoin address: 35CezzikPXjx4QmTgpeU3ByQ42s8mVcbaF
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jyakulis (OP)
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November 27, 2016, 04:54:40 PM |
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Holy hell, the quotes in that article boil my blood.
“Certainly,” he added, “the tinfoil hat-wearing libertarian types who embrace the privacy of [bitcoin] are going to be very disappointed"
I will spell it out one more final time. Is it currency or commodity?
Let's say the dollar was a commodity. If you got payed on Monday and spent the money on Friday and in that time the price increased 1% you would be liable for taxes on that price increase.
It's not the tax that hurts. It's the regulatory nightmare a scenario like this creates. It's one of the same reasons gold or silver will never be a viable currency.
That's all I'm saying. /endrant
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bitcoin address: 35CezzikPXjx4QmTgpeU3ByQ42s8mVcbaF
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Grinder
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November 27, 2016, 08:37:42 PM |
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This is old news and you're not even following the guidelines for posting in this forum.
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jyakulis (OP)
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November 27, 2016, 09:10:26 PM |
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I'm pretty sure the date says the 27th.
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bitcoin address: 35CezzikPXjx4QmTgpeU3ByQ42s8mVcbaF
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Carlton Banks
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November 27, 2016, 09:14:23 PM |
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The Guardian display their anti-Bitcoin, anti-liberal agitprop. Again. The gutter press, what can one do.
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Vires in numeris
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gentlemand
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Activity: 2590
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Welt Am Draht
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November 27, 2016, 09:48:55 PM |
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Ive repeatedly warned why the irs ruling bitcoin as an a commodity and not a currency was a devastating blow.
I don't have much of a clue about US taxation, but in the UK it's treated like forex and all forex profits are subject to capital gains tax. I don't really see how it could be treated any other way. They're not going to wilfully ignore a publicised revenue stream. I wonder how many users have bothered to calculate their gains and losses. I'm sure the IRS will be interested in my £37 of Circle expenditure. I'll be tooled up and waiting for them. Anyone using Coinbase for their money laundering and assassination business really needs to go away and reflect on their stupidity for a lengthy while. |
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richardsNY
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November 27, 2016, 10:04:24 PM |
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It's actually very simple. When people don't fill in their tax reports in a honest manner, which I am sure barely anyone is doing, and thus the governments don't get what they thinks is theirs, they will come after you through forcing exchanges to release user information. Popularity is increasing, so in that point the governments have noticed the smell of extra incoming money. Tyrants.
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Carlton Banks
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November 27, 2016, 10:16:12 PM |
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Anyone using Coinbase for their money laundering and assassination business really needs to go away and reflect on their stupidity for a lengthy while. *splutter* Their _what_ business? Links/details please, I don't believe I've heard about this latest in the Coinbase saga. |
Vires in numeris
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gentlemand
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Welt Am Draht
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November 27, 2016, 10:21:22 PM |
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I'm being facetious of course, but here's a quote from the article
'Cryptocurrencies – digital assets which exist entirely online but are exchangeable for goods or services – have grown in popularity in recent years, in part because they grant a degree of user anonymity. Coinbase is the largest bitcoin exchange and its best-known brand.
But user confidentiality has also caused headaches for governments, who worry the currencies are being used for drug dealing, money laundering or tax evasion. Digital currencies are currently taxed as an asset like gold, with capital gains tax due when there is an appreciation in value.'
It appears to imply that Coinbase is the first port of call for drug dealers and people of a similar ilk. As the real users know, you can't send 1 satoshi to CrappyDice without being told to go away and not come back.
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Carlton Banks
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November 27, 2016, 10:28:30 PM |
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Oh dear, I've been busted for not reading the article properly. Trust you to keep things interesting with some hyperbole  |
Vires in numeris
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kryptqnick
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Join the world-leading crypto sportsbook NOW!
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December 01, 2016, 08:05:54 PM |
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The Guardian display their anti-Bitcoin, anti-liberal agitprop. Again. The gutter press, what can one do.
Well, then we have nothing to worry about. As for the article, it seems understandable but too rude of the government. I mean, who doesn't want to control the currency and who can enjoy the anonymity, right? And yet I think they just can't move against it. The bitcoin ideology is too strong now. If they want to survive - they have to adjust to it. |
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