TERA2
Full Member
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Activity: 266
Merit: 222
Deb Rah Von Doom
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December 23, 2017, 01:28:27 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.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 23, 2017, 01:30:11 AM
Last edit: December 23, 2017, 01:46:10 AM by realr0ach |
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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.
Chart indicates 2 shakeouts before the pump, then price returns to the average of the bottom of the 1st and 2nd shakeout. So bitcoin around $4200 incoming. Probably won't happen till after Martin Looter Coon day. |
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nikauforest
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December 23, 2017, 01:46:38 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. Not so easy or simple, unfortunately. Have you heard of the Exit Tax? Capital gains are realized for high net worth individuals upon renouncing. You still owe cap gains if you don't renounce and just expat. Unless you plan on just hiding and never setting foot in US again nor using any international banks cooperating with FinCen rules. Puerto Rico offers tax free cap gains for residents, but you still owe on any gains realized up to the date you become a resident. https://www.forbes.com/sites/robertwood/2017/02/27/renounce-u-s-heres-how-irs-computes-exit-tax/#45c8627287d4No, I actually haven't heard of the exit tax. It does make sense to some degree, or at least it would if taxes were legitimate in the first place. But regardless of whether or not you'd choose to pay what you "owe" before renouncing, it still doesn't sound like anyone who expects any significant profits should be staying in the US any longer than absolutely necessary for whatever individual circumstances. Agreed. However, I'm suspecting you're not married or have many close family relations in the US? The moment I brought up renouncing to my wife, and that she would need to apply for visas to visit family, friends, etc., well... you can imagine the response. Although she's warming up to it proportionally to crypto value. Which begs the question, how much is US citizenship worth? A US passport gets you in a lot of places without visas or trouble. Attaining citizenship in another country takes time and often a good deal of (traceable, taxable) fiat. Although being stateless is an option, it's not recommended for long. You have no rights, anywhere. I think you can buy New Zealand citizenship and that will get you anywhere US citizenship will. You can go buy mountain in Queenstown with all the hedge fund billionaires. New Zealand is a very nice place to live. Come on down. https://www.newzealandnow.govt.nz/investing-in-nz/visas/investor-visa |
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jojo69
Legendary
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Activity: 3150
Merit: 4308
diamond-handed zealot
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December 23, 2017, 01:50:34 AM |
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EEVBlog Dave has a new Trezor vs Nano comparison out https://youtu.be/SKWYO3Qh79A |
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LewisPirenne
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December 23, 2017, 01:54:27 AM |
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The rationale for this post is that bitcoin doesn't actually function as a store of value. It's so called value is entirely based around flow and not stock. It cannot derive value from anything besides the utility it provides to facilitate turnover in commerce.
Except for a certain country in the world, the so called "commerce/turnover" is not buying Christmas gifts for loving members of family via Bitpay, but rather paying 2~3% to "smurf" RMB over Lo Wu Custom into Hong Kong, or paying 5% min so that Triad enforcers can deposit "winnings" as Chinese casino whales at a local gold & silver "dealer/moneychanger" in Vancouver. So paying even $1,000 per tx is like a godsend where $20K~50K is often expected for a $1 mio tx, and has been for the last 30 years. Heck, they even recently nab some South Korean prosecutor/law-enforcement for taking in billions+ KRW "profit-sharing" so that Chinese "whales" can "arbitrage coins" from China and deposit proceed into exchanges like Bithumb in Gangnam. |
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Rosewater Foundation
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December 23, 2017, 01:56:17 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
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404Revolution
Full Member
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Activity: 252
Merit: 107
Not Found
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December 23, 2017, 02:01:07 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten. |
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 23, 2017, 02:05:36 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten. To make sure (((Goldman Sachs))) is left holding the bag on completely valueless, imaginary assets like bitcoin and ethereum while the goyim sell retardedly overvalued craptocurrency to buy up the whole silver and gold market. |
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Rosewater Foundation
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December 23, 2017, 02:06:08 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten.  |
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TERA2
Full Member
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Activity: 266
Merit: 222
Deb Rah Von Doom
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December 23, 2017, 02:11:12 AM |
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95% of people are here for fiats.
I don't know what the hell they're thinking.
They should be shooting for lambos.
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gentlemand
Legendary
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Activity: 2590
Merit: 3008
Welt Am Draht
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December 23, 2017, 02:15:42 AM |
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95% of people are here for fiats.
I don't know what the hell they're thinking.
They should be shooting for lambos.
Hey, I own two Fiats. Very hot ones too. I'll take them over some Lambo any day of the week. That's if I knew where they were. |
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bones261
Legendary
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Activity: 1806
Merit: 1826
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December 23, 2017, 02:17:40 AM
Last edit: December 23, 2017, 02:52:27 AM by bones261 |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten. To make sure (((Goldman Sachs))) is left holding the bag on completely valueless, imaginary assets like bitcoin and ethereum while the goyim sell retardedly overvalued craptocurrency to buy up the whole silver and gold market. Do you really think the minnows that hang out here can possibly make even a dent in the PM supply?  Maybe you ought to hit up the Winklevoss twins. However, I don't think even they could muster enough to make a dent. Maybe you can get Barry to suddenly change the investment strategy of DCG.  Edit: I was wrong. BTC market cap already exceeds AG bullion marketcap by 7X. We have a long way to go for AU though. |
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TERA2
Full Member
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Activity: 266
Merit: 222
Deb Rah Von Doom
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December 23, 2017, 02:26:11 AM |
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2011: 1 btc = 1 skateboard
2013: 1 btc = 1 bicycle
2014: 1 btc = 1 moped
2017: 1 btc = 1 fiat
2023: 1 btc = 1 lambo
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somac.
Legendary
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Activity: 2046
Merit: 1181
Never selling
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December 23, 2017, 02:27:46 AM |
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2011: 1 btc = 1 skateboard
2013: 1 btc = 1 bicycle
2014: 1 btc = 1 moped
2017: 1 btc = 1 fiat
2023: 1 btc = 1 lambo
well that would be nice |
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xhomerx10
Legendary
Offline
Activity: 3822
Merit: 7962
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December 23, 2017, 02:30:32 AM |
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2011: 1 btc = 1 skateboard
2013: 1 btc = 1 bicycle
2014: 1 btc = 1 moped
2017: 1 btc = 1 fiat
2023: 1 btc = 1 lambo
Yeah but the lambo tx is gonna take until 2030 to confirm. |
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bitserve
Legendary
Offline
Activity: 1820
Merit: 1464
Self made HODLER ✓
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December 23, 2017, 02:35:20 AM |
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2011: 1 btc = 1 skateboard
2013: 1 btc = 1 bicycle
2014: 1 btc = 1 moped
2017: 1 btc = 1 fiat
2023: 1 btc = 1 lambo
Yeah but the lambo tx is gonna take until 2030 to confirm. And the fee is gonna cost 1 fiat. |
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PoolMinor
Legendary
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Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
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December 23, 2017, 02:41:09 AM |
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2011: 1 btc = 1 skateboard
2013: 1 btc = 1 bicycle
2014: 1 btc = 1 moped
2017: 1 btc = 1 fiat
2023: 1 btc = 1 lambo
Yeah but the lambo tx is gonna take until 2030 to confirm. And the fee is gonna cost 1 fiat. Lmao, this is the truth. |
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jojo69
Legendary
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Activity: 3150
Merit: 4308
diamond-handed zealot
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December 23, 2017, 02:45:09 AM |
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realr0ach
Sr. Member
Offline
Activity: 924
Merit: 311
#TheGoyimKnow
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December 23, 2017, 02:45:34 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten. To make sure (((Goldman Sachs))) is left holding the bag on completely valueless, imaginary assets like bitcoin and ethereum while the goyim sell retardedly overvalued craptocurrency to buy up the whole silver and gold market. Do you really think the minnows that hang out here can possibly make even a dent in the PM supply? Maybe you ought to hit up the Winklevoss twins. However, I don't think even they could muster enough to make a dent. Maybe you can get Barry to suddenly change the investment strategy of DCG. 2 billion oz above ground silver = $32 billion bitcoin market cap = $242 billion  |
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roach_lost
Newbie
Offline
Activity: 27
Merit: 0
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December 23, 2017, 02:47:21 AM |
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Listen, I know these are difficult times. But let's try to remain civil. Remember why we're here.
To crush souls and steal their money? Yeah, most of us seem to have forgotten. I may be interpreting this incorrectly but you seem rather passive aggressive. How much in fiat have you lost so far? |
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