Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gentlemand]

Thanks, I know you usually give intelligent, well thought out advice. That's useful when alcohol has reduced my IQ to lower than that of a potatoe.

If it was true every crypto news site would have been all over it by now.

They wouldn't deign to legislate solely about crypto. This would apply to all markets if there was any basis in fact. We have tax treaties to deal with this stuff and always have had. And the exchangea now know which country you live in. It could kill exchanges for US users. No one else would care.

[Enjel]

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.

[txtravwill]

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.

Just make sure you do your homework.  15% isn't the top capital gains bracket, 20% is.  Also NIIT of 3.8% is taxed on it.  Also state/local tax and your income rate.  Also AMT applies if knocks your income up higher.

Can't stress that enough.  Actual rate we will pay on gains from Illinois USA here is 20% + 3.8% + 4.975% + AMT = ~29%+  (more if you live in states with higher income taxes even)

[jbreher]

You are defending alt coin pumps

I am doing no such thing. For the record, I have no use nor no love for Ripple. I was just espousing a valueless factoid relevant to it. One of which you quite evidently were unaware. Rather than being pissy and misstating my motivations (yet again), you should thank me for correcting your misunderstanding.

And again: when I started talking about Ripple here it was merely in response to you talking about Ripple here. Your effort to shift the 'blame' off of yourself is fully transparent to everyone reading.

[jbreher]

Say what you will, the ol' man has an inimitable style.

[jbreher]

Why do you Americans put up with these state differences anyway? The idea of moving up the road and having to change your driving licence and pay hideous amounts more tax seems very silly.

Shape up over there.

Because it also gives us the ability to move up the road, having to change our drivers license, and pay glorious amounts less tax. Amongst other jurisdictional matters of our selection.

[mymenace]

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.

Just make sure you do your homework.  15% isn't the top capital gains bracket, 20% is.  Also NIIT of 3.8% is taxed on it.  Also state/local tax and your income rate.  Also AMT applies if knocks your income up higher.

Can't stress that enough.  Actual rate we will pay on gains from Illinois USA here is 20% + 3.8% + 4.975% + AMT = ~29%+  (more if you live in states with higher income taxes even)

do your homework I agree

1) do not admit it is income

2) do not admit it is an investment

3) if all else fails claim all lost coins at financial year end - you choose which year





this highlights what is occurring for me

i am holding a foreign currency and then oops i need to exchange it, and then I earn more money from that exchange of currency, why am i taxed

then they want me to admit how i got this extra cash into their little boxes - income, investment, capital, commodity

it is none, and it is not extra, it is just my money

[txtravwill]

Ha, just had to share this, someone did recently on Twitter:

http://txhighway.com/#

[FractalUniverse]

Ha, just had to share this, someone did recently on Twitter:
http://txhighway.com/#

yeah, empty highway=waste of resources, useless overkill

[Deeyoh]

Think that is to show how great Bcash is supposed to be but in reality is looks like an abandoned highway with almost no use what so ever. LOL

[BitcoinBunny]

[itod]

Happy New Year, people! May you all have happiness and health, and may BTC rise be sharp as in this old one!

[oblox]

Ummm, they are so confused.   The Tax bill signed into law by President Trump of the U.S.A.  a few days ago, redefines all like of kind exchanges only for real estate and excludes crypto."  So they said it does not then say it does.  I think they have no damn clue what they are talking about.

This means that like-kind exchanges are limited to real estate... before, people exchanging alts to btc, btc to alts, alts to alts all hid behind like-kind exchange as property... now, it only applies to actual real estate. How this will actually be enforced is anyone's guess and keeping track of basis would be an absolute nightmare.

[the artful bodger]

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.

Just make sure you do your homework.  15% isn't the top capital gains bracket, 20% is.  Also NIIT of 3.8% is taxed on it.  Also state/local tax and your income rate.  Also AMT applies if knocks your income up higher.

Can't stress that enough.  Actual rate we will pay on gains from Illinois USA here is 20% + 3.8% + 4.975% + AMT = ~29%+  (more if you live in states with higher income taxes even)

I thought Trumps tax bill was meant to simplify taxes. What's it changed for you?

[Torque]

Ha, just had to share this, someone did recently on Twitter:
http://txhighway.com/#

yeah, empty highway=waste of resources, useless overkill

Yes but build it and they will come, right?? I mean, can't you see by the graphic the millions and millions of the unbanked all over the world flocking to buy and use BCash? It's revolutionary! The epitome of Satoshi's vision!!

[Enjel]

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.

Just make sure you do your homework.  15% isn't the top capital gains bracket, 20% is.  Also NIIT of 3.8% is taxed on it.  Also state/local tax and your income rate.  Also AMT applies if knocks your income up higher.

Can't stress that enough.  Actual rate we will pay on gains from Illinois USA here is 20% + 3.8% + 4.975% + AMT = ~29%+  (more if you live in states with higher income taxes even)

I thought Trumps tax bill was meant to simplify taxes. What's it changed for you?

Yeah, 15% was just an example. I plan on HODL'ing.

As a relatively poor college student, my tax rate will be significantly lower.

I think my parents pay the AMT, which I have no idea why, since I thought it was meant for rich people with loopholes. The new tax bill will put an end to that, which is one good thing.

Trump tax bill will also reduce the number of income tax classes from like 7 to 3. So that's simplified.

[ArmorySegWit]

I'd rather pay 200K for a Vanuatuan passport and a 1-way ticket.

Yeah, well, I ain't gonna fight the IRS on what they are due. That's just a bad time right there and too much stress.

I'm a proud, patriotic American Citizen.

Fuck you.

It's less stressful, possibly overpaying on quarterly taxes, than needing to stress about the prospect of a FUCKING MASSIVE bill due on April 15th if you didn't play by the rules.

Trust me. Having to deal with a FUCKING MASSIVE payment on April 15th is much more painful than making "very healthy" payments, quarterly, to the IRS.

It drives my partner crazy - that I round up to the nearest quarter-thousand when it comes to paying taxes - but I've been on the other side of owing FUCKING MASSIVE back taxes, and that's not something I ever want to deal with again in my lifetime.

You prove it again.
People who have a sexual behaviourship that is unnormal, unnormal in that way that if anyone would live like that the human race will be gone in a generation, tend to be FUCKING INFLUENCABLE. You could use the word dumb as well.

For what your taxes are used, huh? Feed the poor, fight the evil? US-America is the devil in world politiics and invaded like almost every fucking country already.
People are getting poorer and poorer and sicker and sicker every year. Taxation is just theft from the "normal people", orchestrated from the big big big big big bosses of the world.

[gentlemand]

[Deeyoh]

Yeah, remind me to never ever trade on New Years Eve again.   The 10 dollars swings are getting to me. haha

[the artful bodger]

Yes, that's all of us on here tonight. I was wondering WTF I'm doing on this forum tonight. It's because I have no life except crypto at present.