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tescomatty
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November 27, 2013, 06:15:33 PM
 #41

Remember, when selling BTC and withdrawing from exchange, you definitively have to pay income tax, so no $1000 per coin yet at all  Cheesy

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ElectricMucus
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November 27, 2013, 06:18:39 PM
 #42

Best speculation thread ever.
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November 27, 2013, 06:20:22 PM
 #43

Very good speculation indeed.
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November 27, 2013, 06:29:00 PM
 #44

Remember, when selling BTC and withdrawing from exchange, you definitively have to pay income tax, so no $1000 per coin yet at all  Cheesy

Long term capital gains (US) can be at 0% for a lot of people.

Buy & Hold
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November 27, 2013, 07:09:58 PM
 #45

Sell now?  Why? That's beyond dumb when the new floor is $800-900, that makes peaks of $1500 quite plausible. I don't know about you, but selling for 50% less than I could if I was patient does't seem like a genius idea.

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BitcoinTraderFX
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November 27, 2013, 07:19:13 PM
 #46

I agree that a floor at 900 is certainly established. Just keep in mind that any market is a sum representation of psychology of all those people.

Currently you hold the dominant psychology of up, and hold.

All I say is to remain vigilant.

: )

cj

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November 27, 2013, 07:59:55 PM
 #47

All I know is that 1BTC in my paper wallet will never be spent no matter what. Everything else is speculation and gradual investment.
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November 28, 2013, 04:10:36 AM
 #48

All I know is that 1BTC in my paper wallet will never be spent no matter what.
Then what good is it?  Wink

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
BittBurger
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November 28, 2013, 04:29:25 AM
 #49

I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.

LOL ....

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November 28, 2013, 04:32:04 AM
 #50

Remember, when selling BTC and withdrawing from exchange, you definitively have to pay income tax, so no $1000 per coin yet at all  Cheesy

Long term capital gains (US) can be at 0% for a lot of people.

Wait, how do I get 0% capital gains tax?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 28, 2013, 04:45:01 AM
 #51

All I know is that 1BTC in my paper wallet will never be spent no matter what.
Then what good is it?  Wink
What good is the gold in Ft. Knox? I mean, if there is some there.
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November 28, 2013, 04:56:45 AM
 #52

All I know is that 1BTC in my paper wallet will never be spent no matter what.
Then what good is it?  Wink
What good is the gold in Ft. Knox? I mean, if there is some there.

Deterrence, the difference is it can be firmly in people's hands this time.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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November 28, 2013, 05:56:16 AM
 #53

Wait, how do I get 0% capital gains tax?
Make less than $36k/year, and hold the bitcoins for at least a year before selling. Since 2008 there have been zero taxes on capital gains in the two lowest income tax brackets.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
notme
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November 28, 2013, 06:02:07 AM
 #54

Wait, how do I get 0% capital gains tax?
Make less than $36k/year, and hold the bitcoins for at least a year before selling. Since 2008 there have been zero taxes on capital gains in the two lowest income tax brackets.

Fuck.  I've been overpaying the IRS.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
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November 28, 2013, 07:28:19 AM
 #55

I agree that a floor at 900 is certainly established. Just keep in mind that any market is a sum representation of psychology of all those people.
So the price maintains $900 for a day or two and it's a new floor? Hehe...feel like I'm in the twilight zone.
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November 30, 2013, 03:28:27 AM
 #56

Wait, how do I get 0% capital gains tax?
Make less than $36k/year, and hold the bitcoins for at least a year before selling. Since 2008 there have been zero taxes on capital gains in the two lowest income tax brackets.

Fuck.  I've been overpaying the IRS.

But just keep in mind that the realized capital gains contribute towards that $36k limit.  So if you don't have a job, and just sell $36k worth of your bitcoin stash per year, your would pay ZERO in taxes.  That's my understanding at least, but I'm not an accountant.

R
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chrsjrcj
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November 30, 2013, 03:32:07 AM
 #57

You don't pay income tax if you spend your BTC instead of selling.

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November 30, 2013, 03:42:50 AM
 #58

You don't pay income tax if you spend your BTC instead of selling.

The IRS would certainly disagree with you there.  You still need to pay taxes on any gains under the barter tax code.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 30, 2013, 03:58:22 AM
 #59

You don't pay income tax if you spend your BTC instead of selling.

The IRS would certainly disagree with you there.  You still need to pay taxes on any gains under the barter tax code.

yes, they would disagree, but how would they find out?
lol!

nice necro thread.

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November 30, 2013, 04:31:29 AM
 #60

You don't pay income tax if you spend your BTC instead of selling.

The IRS would certainly disagree with you there.  You still need to pay taxes on any gains under the barter tax code.

yes, they would disagree, but how would they find out?
lol!

nice necro thread.

Well, your neighboor can inform them that you have suddenly bought a new ferrari, Plasma TV and a pool in the garden. Or they could ask NSA.
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