bitserve
Legendary
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Activity: 1820
Merit: 1464
Self made HODLER ✓
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December 22, 2017, 11:44:36 PM |
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Well ... I doubled my bitcorns ....
hats off, that, by definition, takes some serious gonads Thanks.. It wasn't much. Just single digit, now double digits. This happens only once every two or three years, or I've managed to only do it twice so far. I make more bouncing around the alts. Congrats! Welcome to the double digits club! I don't have the balls to trade big amounts anymore nor be overexposed to exchanges risk. You took the risk and you won, well done!
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"You Asked For Change, We Gave You Coins" -- casascius
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Ibian
Legendary
Offline
Activity: 2268
Merit: 1278
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December 22, 2017, 11:46:22 PM |
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So imagine if you pulled a rip van winkle deep sleep right after we broke 10 grande and now you just woke up to 14+ grande. you'd be like "yeee hahhh!!" then you'd be like..."hey, how come everyone in bitcoinland is so bummed out?...."
I like you.
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bitserve
Legendary
Offline
Activity: 1820
Merit: 1464
Self made HODLER ✓
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December 22, 2017, 11:52:49 PM |
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Where we are going we won't give a shit about $6K "sideways" anymore.
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yonton
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December 22, 2017, 11:52:52 PM |
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I didn't think bitcoin could be this volatile with the size of market cap it has now. I was wrong. It's going haywire right now!
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BTCMILLIONAIRE
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December 22, 2017, 11:58:47 PM |
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Well ... I doubled my bitcorns ....
hats off, that, by definition, takes some serious gonads Thanks.. It wasn't much. Just single digit, now double digits. This happens only once every two or three years, or I've managed to only do it twice so far. I make more bouncing around the alts. I much prefer bouncing around alts as well. That also avoids some other... less pleasant issues.
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TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
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December 22, 2017, 11:59:51 PM |
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Are you referring to like kind tax rule? I wonder if that applied to USDT as well? Either way its going away in the coming tax plan.
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jojo69
Legendary
Offline
Activity: 3164
Merit: 4343
diamond-handed zealot
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December 23, 2017, 12:06:07 AM |
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up up up
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BTCMILLIONAIRE
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December 23, 2017, 12:08:24 AM |
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Are you referring to like kind tax rule? I wonder if that applied to USDT as well? Either way its going away in the coming tax plan.
Among other things (fiat is just a pita to deal with). There are some other loopholes though, which I'd assume would only apply in a very limited way in the US, if at all.
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rolling
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December 23, 2017, 12:12:59 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
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BTCMILLIONAIRE
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December 23, 2017, 12:14:04 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat.
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realr0ach
Sr. Member
Offline
Activity: 924
Merit: 311
#TheGoyimKnow
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December 23, 2017, 12:15:36 AM |
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I didn't think bitcoin could be this volatile with the size of market cap it has now. I was wrong.
Because there's way too many idiots who pretend that bitcoin is somehow special and that altcoins are pump and dumps. In reality, every single one of these coins including bitcoin is just a pump and dump. All the coins are completely centralized so there's absolutely no difference in any of them. It's a fugazi.
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rolling
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December 23, 2017, 12:16:01 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. Does not apply to US citizens unless you give up your citizenship.
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NiceSoft12
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December 23, 2017, 12:17:42 AM |
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Look, when the whales begin to believe that the bull market has ended, it's going to go below $5k. Their going to want to take profit. The next bull run might not even happen for 10 years, if at all. Sure next bull run will enter the andromeda galaxy, i'd say >$300k, but that is IF it does even happen.
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Ludwig Von
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December 23, 2017, 12:19:36 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. Am I happy to be a Be citizen, now. Null tax as long as I behave like a good housefather. (Means not to much sex and drugs and R&R).
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El duderino_
Legendary
Offline
Activity: 2506
Merit: 12035
BTC + Crossfit, living life.
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December 23, 2017, 12:21:41 AM |
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Breaking 24777$ prediction game
27/12/2017 bikerleszno 30/12/2017 digithusiast 31/12/2017 Raja_MBZ 01/01/2018 elg 02/01/2018 wachtwoord 04/01/2018 d_eddie 05/01/2018 BTCMILLIONAIRE 06/01/2018 HanvanBitcoin 07/01/2018 ghandi 08/01/2018 savetherainforrest 09/01/2018 explorer 10/01/2018 bicoinpsycho 11/01/2018 Bitcoinaire 12/01/2018 speedwheel 13/01/2018 undeadbitcoiner 14/01/2018 northypole 15/01/2018 ivomm 16/01/2018 maca068 17/01/2018 bitcoinvest 18/01/2018 last of the v8s 19/01/2018 mfort312 20/01/2018 1982dre 21/01/2018 flamast2 22/01/2018 RealMachasm 23/01/2018 willope 24/01/2018 kartala 25/01/2018 orpington 26/01/2018 rolling 27/01/2018 LFC_bitcoin 28/01/2018 jojo69 29/01/2018 CristiTCM 30/01/2018 rayX12 31/01/2018 realsteelboy 01/02/2018 twocorn 02/02/2018 mancroofer 03/02/2018 True Myth 04/02/2018 poolminor 05/02/2018 itod 06/02/2018 scheptan 07/02/2018 vapourminer 08/02/2018 alexeft 09/02/2018 siera 12/02/2018 yonton 13/02/2018 Wekkel 14/02/2018 Thekool1s 15/02/2018 starmman 16/02/2018 Globb0 17/02/2018 leveldkrypto 18/02/2018 olesh 19/02/2018 BitCoinBurger 20/02/2018 Paashaas 21/02/2018 flynn 22/02/2018 icygreen 23/02/2018 erisdiscordia 24/02/2018 phil_s 25/02/2018 sirazimuth 26/02/2018 Arriemoller 27/02/2018 yonton 01/03/2018 bones261 06/03/2018 sa_94 07/03/2018 NUFCrichard 08/03/2018 Imbatman 10/03/2018 STT 11/03/2018 badream 13/03/2018 erre 15/03/2018 podyx 17/03/2018 fragout 18/03/2018 fabiorem 21/03/2018 dakustaking76 23/03/2018 nikauforest 31/03/2018 vroom 01/04/2018 somac. 02/04/2018 kurious 05/04/2018 bitcoinbunny 10/04/2018 ludwigvon 11/04/2018 hairymaclairy 27/04/2018 drbrockoin 01/05/2018 sprinkles 02/06/2018 oblox 03/08/2018 toxic2040 05/11/2018 mikenz 31/12/2018 melman2002 12/02/2019 FractalUniverse 21/04/2019 gentlemand 20/02/2020 romneymoney 18/12/2021 luckygenough56
Maybe because its This time of the year we make a small game Just to call 24777$ (CET) the one with the day of breaking This price wins .25 BTC The list Will be Made after This post So When a date is taking iT cannot been taken again When the winning date is exactly in the middle of 2 each Will get .25 Oterwhise closest to the winning date wins
LIST MAKING ENDS 25-12-2017 @ 22.00 cet
SOME HAVE TAKEN A DATE THATS ALLREADY OCCUPIED -fluidjax -vito5 -Dotto -Ibian - - - TAKE DIFFRENT DATE PLEASE , THE DATES YOU GUYS PICKED WHERE TAKEN
Last update for tonight MANY PAGES BACK I POSTED MINIMUM ACTIVITIE 50+ TO COME ON THE LIST TO MANY NEW ACCOUNTS GR
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natewelt
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December 23, 2017, 12:22:59 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
^^^yes yes everyone saying it's a legit loophole is going to be in for a beating once they realize they took an aggressive position without any basis to do so. Good luck to them, their back taxes and their prison buddies.
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BTCMILLIONAIRE
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December 23, 2017, 12:24:11 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. Does not apply to US citizens unless you give up your citizenship. Sounds like a good trade to me.
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explorer
Legendary
Offline
Activity: 2016
Merit: 1259
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December 23, 2017, 12:24:54 AM |
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Friend got this. This is what the start of mass adoption looks like Why you Bitfinex no scale up service before? 4 years since the last destructive influx, you'd think they'd have been prepared for the next couple order of magnitude increases by now. Like, hodlers buy the dip, exchanges scale up during the dip? But but but we had no idea that this would happen! Ahahahahaha Zero Vision. I award you no points, and may....
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samson
Legendary
Offline
Activity: 2097
Merit: 1068
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December 23, 2017, 12:25:28 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. Does not apply to US citizens unless you give up your citizenship. That's right, you still have to pay !
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BTCMILLIONAIRE
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December 23, 2017, 12:27:42 AM |
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Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. Does not apply to US citizens unless you give up your citizenship. That's right, you still have to pay ! That's really just another reason to renounce citizenship. Does the US not have double taxation treaties though? In some places you can just create an offshore company, tax your profits in a different legislation, and then be exempt from further taxes under your own legislation due to the treaty as you've "already paid them" (even if the taxes are as low as 2% or even 0%).
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