Ted E. Bare
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November 20, 2016, 09:09:50 AM |
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What if you're trade altcoins against btc but never sell the btc. Do you pay taxes even if you haven't sold, and how do you base the value of the btc.
Trading one asset for another is a taxable event. Not over here (Netherlands).
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yefi
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November 20, 2016, 11:07:49 AM |
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What if you're trade altcoins against btc but never sell the btc. Do you pay taxes even if you haven't sold,
No. The taxable event is the selling of some asset for governmentally-recognized money - such as USD. I don't believe that is the case. If it were, people would bypass fiat to avoid taxation - maybe via precious metals, gemstones, vouchers, etc. A tax authority would be unlikely to condone such a loophole.
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Meuh6879
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November 20, 2016, 11:10:50 AM |
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seller need to avoid VAT when they want avoid IRS (taxes). and so ... they don't sell stock ... ?
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Karartma1
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November 20, 2016, 11:19:01 AM |
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I see a slight correlation between these two charts, taken from Bitstamp 1wk with KDJ indicator. The main difference I see is volume, StochRSI indicates to me an overbought scenario, still could go higher though. Good find PoolMinor, you surely deserve to be quoted for reference. I'm seeing that very same pattern. Some more big buys filled and we'll go beyond $800. Many people are saying that the next price trigger (for the good or the bad) could be the upcoming Italian Constitutional Referendum. We shall see
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savetherainforest
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November 20, 2016, 12:52:44 PM |
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I think most of us who have been in Bitcoin for several years will be deciding between doing our accounting First In First Out (FIFO) or Last In First Out (LIFO). You have to consider that the capital gains for short term gains is 10 to 20 percent higher than for long term gains (over a year). But the bitcoin price this year and in previous years has gone up so much that such a difference is not enough (for example, I started buying at $20 so I would not choose FIFO because my gains would be over 1000% on my initial coins).
For me, I don't think I have ever sold bitcoins (on Coinbase) for fiat. I usually spend it. So I would choose LIFO because I have my money converted to bitcoins for each paycheck. So the gains in any given 2 week period are minimal, over the course of the year when one week may be down, one may be up it will add up to a very small amount.
In the future if I were to want to cash out a large portion of my bitcoins or spend a large amount I would probably structure my holdings via some sort of Caymen Islands type of thing as opposed to paying the capital gains on thousands of percent in gains.
This is usually where people say "consult an attorney" or whatever. Fuck that, you have the Internet and you probably know a lot more about Bitcoin than those assholes. Do your own research and you'll find the best way forward.
Look in to my eyes and I will tell you the future!Oh boy... Here we go!... Well... Elwar... the thing is like this and I'm sorry I need to break it to you! In the future the concept of tax will be not sustainable. Meaning there will be no taxes. Because I have a lot of time on my hands and I meditated for some time about this... And I see there are social problems with pensions, healthcare, the public school system... etc... So... Listen to me! ... There will be no taxes... soon.The thing is that most of you are sheeple (maybe not the people on this forum... at least most of them) ... The problem of your concept is that you don't need to pay taxes! ... Because that's what they want you to believe! Just to feed their corrupt and decaying system! You see those sheep?? .. They just need a big bad wolf on their side to start running sideways in that high snow. Just like all you tax paying motherF&#@ers... ... U feeling me?? And I'm not talking only to you.. but with all those who read this right now... And for example you should stop giving your monthly pension contribution in some "private fun"-d ... But instead you should bootstrap or do some mattress bulking with some of the money (in some solid long term self owned investments like: bitcoin, gold, silver... dunno diversify your portfolio) that u keep donating in those fake/illusion pension funds. Their socialism bullsh!t won't last 4ever!Because in the future if you need something... You will pay for it from your own pocket! And there will not be any socialist insurance to bail you with your health, your car or other goods that you might own! You should just cut off the middleman! Because he kinda just enslaved the world.
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Meuh6879
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November 20, 2016, 01:44:40 PM Last edit: November 20, 2016, 01:54:42 PM by Meuh6879 |
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Weak Hands ... always enjoy the party at the end.
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Ibian
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November 20, 2016, 01:57:42 PM Last edit: November 20, 2016, 02:11:04 PM by Ibian |
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I don't pay taxes on bitcoin at all. Denmark, bitches.
Would trade taxes for a better climate.
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DARKHOLDER
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November 20, 2016, 04:05:51 PM |
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seller need to avoid VAT when they want avoid IRS (taxes). and so ... they don't sell stock ... ? Last chance to sell btc at 740$
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rjclarke2000
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November 20, 2016, 04:10:39 PM |
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What's the reason for the dip? Whale decided do to sell?
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ImI
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November 20, 2016, 04:13:07 PM |
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What's the reason for the dip? Whale decided do to sell?
Couldnt break 755$ resistance after several tries. -> Dumping.
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calme
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November 20, 2016, 04:25:49 PM |
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right now some of you leveraged folks are feeling a bit dead inside. trust me, i've been there.
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600watt
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November 20, 2016, 04:27:34 PM |
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What's the reason for the dip? Whale decided do to sell?
Couldnt break 755$ resistance after several tries. -> Dumping. does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?
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calme
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November 20, 2016, 04:30:31 PM |
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it's hard for me to determine the relevancy of Bitstamp. Stamp was the exchange that screamed "dump time," given the ascending wedge. And yet, the big mainland exchanges in fact dumped.
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MR1
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November 20, 2016, 04:31:41 PM |
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What's the reason for the dip? Whale decided do to sell?
A classic ping pong scenario before the future bull run.
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ImI
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November 20, 2016, 04:33:49 PM |
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What's the reason for the dip? Whale decided do to sell?
Couldnt break 755$ resistance after several tries. -> Dumping. does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump? yes.
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klondike_bar
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ASIC Wannabe
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November 20, 2016, 04:39:51 PM |
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What's the reason for the dip? Whale decided do to sell?
stabilize at 720-730, for a few days, and then push up again. either passes $760 and goes for $800, or deflects down back to $700 or $680 again
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600watt
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November 20, 2016, 04:49:11 PM |
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What's the reason for the dip? Whale decided do to sell?
Couldnt break 755$ resistance after several tries. -> Dumping. does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump? yes. ok. bitstamp dumped about 2,5 k btc houbi dumped about 70-80 k btc. btcc dumped about 50 k btc. okcoin dumped about 30 k btc. that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp? 150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60.
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ImI
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November 20, 2016, 04:53:11 PM |
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What's the reason for the dip? Whale decided do to sell?
Couldnt break 755$ resistance after several tries. -> Dumping. does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump? yes. ok. bitstamp dumped about 2,5 k btc houbi dumped about 70-80 k btc. btcc dumped about 50 k btc. okcoin dumped about 30 k btc. that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp? 150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60. yes, i think so. chinese exchanges that drive the price are just a nice PR story for CNBC or Bloomberg but no reality if you follow the markets.
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JimboToronto
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You're never too old to think young.
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November 20, 2016, 05:25:29 PM |
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Good morning Bitcoinland.
So we finally got our first real correction/profit-taking after a week of pretty steadily rising prices.
Up $70 and down $30... all the way to $737 (Bitcoinaverage)
Not too bad for a weekend dump but nowhere close to what I'd call a buying opportunity.
Maybe next time.
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Ted E. Bare
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November 20, 2016, 05:27:03 PM |
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Not bad, not bad.
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