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cmacwiz
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September 01, 2017, 08:07:28 PM |
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Do I have to pay capital gains if I buy shit with my BTC? Like gold, or magic cards, or factory sealed og pepsi clear?
It depends where you are located at, however the likely answer is no. You're just using a currency that went up in value. You don't pay capital tax on shitty fiat when you use it either.  Likely answer is yes. It's not about consistency or logic, just about how much money the taxman can get out of us. Or how much we can dodge the tax man b/c thats what rich people do. IRS --> "A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property" "When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based on the Taxpayer Relief Act of 1997, if you are single, you will pay no capital gains tax on the first $250,000 you make when you sell your home" So first quarter million is clean (married it's 1/2 mill) EDIT: you can do this every 2 years, and the BTC has to be your primary residence lol |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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September 01, 2017, 08:12:47 PM |
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Likely answer is yes. It's not about consistency or logic, just about how much money the taxman can get out of us.
Good luck declaring capital gains every time you spend $20 BTC on food.  $5000 today?
$5000 in 1 hour?  Bitstamp | Total bids: 44655552 USD. Total asks: 2047 BTC. Ratio: 21805.59522 USD/BTC. | Data vintage: 204.1099 seconds
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podyx
Legendary
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Activity: 2338
Merit: 1035
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September 01, 2017, 08:13:09 PM |
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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September 01, 2017, 08:15:05 PM |
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cmacwiz
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September 01, 2017, 08:16:00 PM |
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C'mon, let's smash this mark. Let's start to tickle the adoption S-curve
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Dakustaking76
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September 01, 2017, 08:16:30 PM |
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Can someone Tell me for bitcoins sake!!! Whats happening with the price  Above $5000 Damn were going up! New ath on kraken And keeps going |
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AZwarel
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September 01, 2017, 08:17:10 PM |
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Oh, another ATH...
Getting boring
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BlindMayorBitcorn
Legendary
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Activity: 1260
Merit: 1115
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September 01, 2017, 08:17:32 PM |
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 Boooorrriing |
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Last of the V8s
Legendary
Offline
Activity: 1652
Merit: 4392
Be a bank
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September 01, 2017, 08:17:56 PM |
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 btc today/btc yesterday |
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Wexlike
Legendary
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Activity: 1473
Merit: 1086
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September 01, 2017, 08:21:47 PM |
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edit: this is obscene. it takes 60 minutes and I make my exact initial investment. was there ever an asset one could buy where one would make his initial investment not in a year, not in a month, not even in a day, BUT IN A FUCKIN HOUR? those were my live savings ffs!
I know that feeling as well. Absurd times we're living in. |
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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September 01, 2017, 08:28:04 PM |
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Higher Altitude
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September 01, 2017, 08:30:05 PM |
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Another erection takes Bitcoin above $4900. We barely had any time to get to know $4800 and now it's already time to say goodbye.  |
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600watt
Legendary
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Activity: 2338
Merit: 2106
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September 01, 2017, 08:30:29 PM |
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$5k incoming.
I still feel the hangover from yesterdays champagne because we crossed €4k. I guess I have to open yet another one soon. I mean $5k... wow. bitcoining is hard work...
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Wexlike
Legendary
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Activity: 1473
Merit: 1086
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September 01, 2017, 08:37:10 PM |
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Only 2050 Bitcoin left on Bitstamp until we reach over 9000$.
Edit: And my friends and relatives are still waiting for the <3000$ dip...
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Eric Cartman
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September 01, 2017, 08:41:34 PM |
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Oh, a dump.
Is crypto done?
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lightfoot
Legendary
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Activity: 3122
Merit: 2242
I fix broken miners. And make holes in teeth :-)
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September 01, 2017, 08:47:25 PM |
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I don't know, but even my dumb-ass litecoin is mooning. This is really one of those kinds of days I feel sad for buying towels a few years back for .25btc or so...
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cmacwiz
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September 01, 2017, 08:57:56 PM |
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I don't know, but even my dumb-ass litecoin is mooning. This is really one of those kinds of days I feel sad for buying towels a few years back for .25btc or so...
but atleast the towel maker got some BTC... |
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AlexGR
Legendary
Offline
Activity: 1708
Merit: 1049
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September 01, 2017, 08:59:17 PM |
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I think today we've hit 1% of Gold's marketcap.
188.000 mt of gold x 42.5mn per ton = 8trn usd.
Still, way below even 1 year worth of mining production (3500 mt / ~150bn USD).
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krizniq
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September 01, 2017, 09:00:12 PM |
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Oh, a dump.
Is crypto done?
no, kwuck is missing |
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