Torque
Legendary
Activity: 3822
Merit: 5504
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August 18, 2017, 09:07:57 PM |
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I for one have started to migrate my coins out of their old private keys slumber. I'm tired of being forced to own fork coins.
+1 At 20% it'd be rude not to. At 25% it'd be even ruder. Do I hear 30%? Incidentally, you seems to be misusing 'BCash'. BCash is a different coin based upon zk-snarks.
Oh I'm sorry, you're right. I meant to say ButtCash. |
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criptix
Legendary
Activity: 2464
Merit: 1145
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August 18, 2017, 09:09:15 PM |
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he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.
Are you sure this apply to cryptocurrencies? Here in Czech we have very similar law - no capital gain taxing after 1 year hold. The problem is, cryptocurency gains can't be declared as capital gains - it falls into category "other gains" in czech law. Yes. In germany cryptocurrencies like bitcoin count as foreign currency. So taxfree after 1 year. |
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jojo69
Legendary
Activity: 3626
Merit: 5300
diamond-handed zealot
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August 18, 2017, 09:10:18 PM |
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doc12
Legendary
Activity: 1284
Merit: 1043
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August 18, 2017, 09:10:27 PM |
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Bitcoin Core? I guess that's yet another new fork like BCash? Because we don't what that refers to here.
Yes, Bitcoin Core. After Bitcoin Cash becomes the largest proof of work chain, we'll need some term to use to refer to the obsolete core chain. Hence, Bitcoin Core. Incidentally, you seems to be misusing 'BCash'. BCash is a different coin based upon zk-snarks. Can you please stop shilling your shitcoin here, that would be great. Dont know of you noticed, but this is BITCOINtalk. Not BCH or BCC or whatever Talk. |
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jbreher
Legendary
Activity: 3122
Merit: 1767
lose: unfind ... loose: untight
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August 18, 2017, 09:10:47 PM |
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Oh I'm sorry, you're right. I meant to say ButtCash.
Bit salty, are we? |
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jbreher
Legendary
Activity: 3122
Merit: 1767
lose: unfind ... loose: untight
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August 18, 2017, 09:11:42 PM |
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Dont know of you noticed, but this is BITCOINtalk
Exactly. Hence, this is the proper venue. Cheers! |
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Torque
Legendary
Activity: 3822
Merit: 5504
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August 18, 2017, 09:16:05 PM |
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jbreher, I always knew you were just a troll account. But now you've proven that you are not even that good of one. sigh.... welcome to /ignore  |
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jbreher
Legendary
Activity: 3122
Merit: 1767
lose: unfind ... loose: untight
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August 18, 2017, 09:18:29 PM |
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jbreher,
sigh.... welcome to /ignore
Awww, gee. And I kinda liked you, Torque. Hope to speak to you again after the post-rift-healing. |
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El duderino_
Legendary
Activity: 3234
Merit: 15573
“They have no clue”
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August 18, 2017, 09:18:52 PM |
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When are we going to have A new ATH after the weekend....  And How high Will BTH go ...... Just holding it But big part of me wants to sell another part as wel ........... |
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European Central Bank
Legendary
Activity: 1288
Merit: 1087
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August 18, 2017, 09:19:57 PM |
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And How high Will BTH go ...... Just holding it But big part of me wants to sell another part as wel ...........
korea is leading this run by a country mile which means it could go crazy high as they don't seem to care what they're pumping. they were the ones who pushed ethereum to the absolute heights. i don't think it's a ver pump any more. anyone might regret getting rid now. |
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hodl_2015
Member
Activity: 371
Merit: 57
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August 18, 2017, 09:21:06 PM |
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Do you realise that "spending" the coins is a taxable event?
No. If you don't convert, you don't need to pay anything at least not in Europe. At least in the Netherlands, you still have to pay 30% income tax on a fictive 4% gain, which works out as a fixed 1.2% tax per year, based on the total value of property (excluding one house and car, but including bitcoin, gold, cash above a few hundred bucks, etc.). The 4% is fixed. Even if your savings account pays 0.1% interest you have to pay for a 4% gain. if bitcoin is going up or down 99%, you still pay for a 4% gain. Value is based _only_ on the value at jan 1st, which kind of sucks if bitcoun peaks around newjear. Short-term hodling is seen as speculating "work" and full income tax (upto 52% here) is due on the actual gains. Long-term hodling is seen as investment and not taxed, except for the above 1.2% / year. We still pay 21% sales tax if we spend any money, but conversions between bitcoin and euro's are not counted as spending. |
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turboblade
Member
Activity: 115
Merit: 10
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August 18, 2017, 09:21:20 PM |
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BCH now 30% more profitable as per coin dance. What happens now. Is anyone else panicking?
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JimboToronto
Legendary
Activity: 4704
Merit: 6169
You're never too old to think young.
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August 18, 2017, 09:22:34 PM |
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Cool. Just caught the dip and bought $1000CAD worth when it was below $4kUSD. It can go up now.  |
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El duderino_
Legendary
Activity: 3234
Merit: 15573
“They have no clue”
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August 18, 2017, 09:23:27 PM |
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And How high Will BTH go ...... Just holding it But big part of me wants to sell another part as wel ...........
korea is leading this run by a country mile which means it could go crazy high as they don't seem to care what they're pumping. they were the ones who pushed ethereum to the absolute heights. i don't think it's a ver pump any more. anyone might regret getting rid now. Yeah watching it closely this crazy run where Will it end..... |
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becoin
Legendary
Activity: 3431
Merit: 1233
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August 18, 2017, 09:23:46 PM |
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Thanks for the free money drop, Ver and Wu! Veeeeery nice.
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El duderino_
Legendary
Activity: 3234
Merit: 15573
“They have no clue”
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August 18, 2017, 09:27:37 PM |
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Cool. Just caught the dip and bought $1000CAD worth when it was below $4kUSD. It can go up now. Got A Nice amount of fiat as wel ready to buy the dip , But Allmost thinking of buying BTH in Its run Haha BUT no stick with my original plan buy A Nice dip of btc only thinking to buy now or want A little Any suggestions ? |
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lightfoot
Legendary
Activity: 3430
Merit: 2530
I fix broken miners. And make holes in teeth :-)
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August 18, 2017, 09:32:51 PM
Last edit: August 18, 2017, 10:06:15 PM by lightfoot |
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In the US, you owe taxes on the value when you receive it and then again if there are gains when you sell it.
Are you really declaring your ownership of BTC? OMG.  Not as such. If you receive it as payment (as I do) you have to pay the normal income taxes on it at the rate of the bitcoin at the time. Then if you sell it later you need to take into account capital gains or losses and pay taxes on only that differential amount. It's one reason I use LIFO accounting: I can fix things for people, take bitcoins, then convert some into cash to set aside for taxes and for buying equipment/parts/shipping. Normally the fluctuation is minimal short term so no STCG taxes and no screwing with the old stuff (which has appreciated but I'm using LIFO). Bit screwy this year with the bouncing, but still not bad. (One of the 500 or so people who actually paid all taxes on bitcoins earned last year. It was kind of a silly return but accurate) |
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Last of the V8s
Legendary
Activity: 1652
Merit: 4402
Be a bank
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August 18, 2017, 09:34:35 PM |
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Thanks for the free money drop, Ver and Wu! Veeeeery nice.
Yeah and it's nice to mine a shitcoin once in a while. ppc, dgb-sha, dem, bcc all convert quite nicely to hard currency. Anyone remember mining paycoin back in the day? How long did Garza get in jail? |
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bitserve
Legendary
Activity: 2072
Merit: 1772
Self made HODLER ✓
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August 18, 2017, 09:36:44 PM |
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In the US, you owe taxes on the value when you receive it and then again if there are gains when you sell it.
Are you really declaring your ownership of BTC? OMG. Not as such. If you receive it as payment (as I do) you have to pay the normal income taxes on it at the rate of the bitcoin at the time. Then if you sell it later you need to take into account capital gains or losses and pay taxes on only that differential amount. It's one reason I use FIFO accounting: I can fix things for people, take bitcoins, then convert some into cash to set aside for taxes and for buying equipment/parts/shipping. Normally the fluctuation is minimal short term so no STCG taxes and no screwing with the old stuff (which has appreciated but I'm using FIFO). Bit screwy this year with the bouncing, but still not bad. (One of the 500 or so people who actually paid all taxes on bitcoins earned last year. It was kind of a silly return but accurate) but FIFO means if you had early Bitcoins (like at $5 or $50 each) those are the ones you are first selling. how is that no screwing with the "old stuff". |
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JimboToronto
Legendary
Activity: 4704
Merit: 6169
You're never too old to think young.
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August 18, 2017, 09:48:59 PM |
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Cool. Just caught the dip and bought $1000CAD worth when it was below $4kUSD. It can go up now. Got A Nice amount of fiat as wel ready to buy the dip , But Allmost thinking of buying BTH in Its run Haha BUT no stick with my original plan buy A Nice dip of btc only thinking to buy now or want A little Any suggestions ? I also have more fiat waiting for a further dip but after it dropped over $500USD in 2 days, I jumped at it. Anything under $4kUSD is a bargain. As for AltcoinCash, I'll continue holding my forking windfall but I'm not ready to throw any fiat at it quite yet. Let's wait and see. |
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