POLL QUESTION // US Congressional Candidate: Seeking Your Advice

[FreshThought]

I am a Congressional Candidate who is supportive of Bitcoin (wow - $7,000!) and very supportive of blockchain technology (unlike other candidates who I am running against). I haven't announced that my campaign will accept donations through BitPay (although currently operational) because I want to make sure I hear from the Bitcoin community first. This being one of the most active communities that I have found so far, any help would be much appreciated.

I am Michael, btw. Hello and nice to e-meet you all. 

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[mrcash02]

It's hard to enter the system and make significative changes there. We want many things done, but without majority it's just a dream. I think at first point to embrace the BlockChain technology is a good way to begin. Like giving incentives to people use it on their stores and telling successful stories about it.

However, it means Bitcoin will be regulamented, what isn't good for some reasons... So I think you as a congressman (if elected), should take care that the state doesn't take our Bitcoin profit for them as taxes, that is the most important thing in my opinion.

[FreshThought]

Thank you so much for your thoughts. Really great points.

How are Bitcoin profits currently taxed? At the 15% capital gains rate (like stocks/mutual funds) or higher?

[mrcash02]

Thank you so much for your thoughts. Really great points.

How are Bitcoin profits currently taxed? At the 15% capital gains rate (like stocks/mutual funds) or higher?

Where I live there isn't regulation about it yet. Theoretically, for the law it doesn't exist...

But people say we must declare it like any other money and asset because it has a value (15% tax, yes). However the government doesn't have control over it yet and hardly track Bitcoin users. I'm a little investor, so far I didn't pay anything and didn't have any kind of issue. Big investors might have had...

[Emoclaw]

Thank you so much for your thoughts. Really great points.

How are Bitcoin profits currently taxed? At the 15% capital gains rate (like stocks/mutual funds) or higher?

From this page: https://en.bitcoin.it/wiki/Tax_compliance
"The IRS issued guidance on the treatment of Bitcoin and other digital currencies in their March 2014-21 Notice. The notice clarified the position that the IRS treats digital currencies as capital assets and are therefore subject to capital gains taxes. Any disposition of these digital currencies, including trading and spending, is a tax event and capital gains must be calculated in USD."


I think it is important that you support, use and endorse Bitcoin even if you don't manage to make significant changes. Although I'm not a US resident (nor citizen), I sincerely hope you succeed.

[mangenta]

Embrace Blockchain Technology

[valiant1]

What kind of election candidate doesn't share his full name? 

[Don Pedro Dinero]

I am a Congressional Candidate who is supportive of Bitcoin (wow - $7,000!) and very supportive of blockchain technology (unlike other candidates who I am running against). I haven't announced that my campaign will accept donations through BitPay (although currently operational) because I want to make sure I hear from the Bitcoin community first. This being one of the most active communities that I have found so far, any help would be much appreciated.

I am Michael, btw. Hello and nice to e-meet you all.  

Hi,

Thanks for supporting bitcoin. Just two questions.

1)   How do you plan us to trust you when you say you are a US congressional candidate? I’ve been in quite a few forums before I joined this one and long back ago I learned that you shouldn’t trust everything you read in forums. They are many trolls pretending to be who they aren’t.

2)   What do you exactly want to hear from us about the bitpay payment?

[CryptosapienZA]

Hi Michael. I am not a US citizen but I would like to commend you for what you are attempting. It is people like you that change the world to a better place. I think it wonderful to see you here. Please let us know when you are accepting those donations. All the best! It was lovely e-meeting you too.

[muffinsboat]

I am a Congressional Candidate who is supportive of Bitcoin (wow - $7,000!) and very supportive of blockchain technology (unlike other candidates who I am running against). I haven't announced that my campaign will accept donations through BitPay (although currently operational) because I want to make sure I hear from the Bitcoin community first. This being one of the most active communities that I have found so far, any help would be much appreciated.

I am Michael, btw. Hello and nice to e-meet you all. 

This is a great idea.  I'm glad to hear that people going for positions of power support bitcoin!

[dejectedstream]

I am a Congressional Candidate who is supportive of Bitcoin (wow - $7,000!) and very supportive of blockchain technology (unlike other candidates who I am running against). I haven't announced that my campaign will accept donations through BitPay (although currently operational) because I want to make sure I hear from the Bitcoin community first. This being one of the most active communities that I have found so far, any help would be much appreciated.

I am Michael, btw. Hello and nice to e-meet you all. 

Good luck with your journey and good idea to take bitcoin.

[FreshThought]

Thank you so much for your thoughts. Really great points.

How are Bitcoin profits currently taxed? At the 15% capital gains rate (like stocks/mutual funds) or higher?

From this page: https://en.bitcoin.it/wiki/Tax_compliance
"The IRS issued guidance on the treatment of Bitcoin and other digital currencies in their March 2014-21 Notice. The notice clarified the position that the IRS treats digital currencies as capital assets and are therefore subject to capital gains taxes. Any disposition of these digital currencies, including trading and spending, is a tax event and capital gains must be calculated in USD."


I think it is important that you support, use and endorse Bitcoin even if you don't manage to make significant changes. Although I'm not a US resident (nor citizen), I sincerely hope you succeed.

Thanks for the link and the clarification on the IRS taxation policy, @Emoclaw. 
I'll share my bitcoin link and my website when I get everything setup. I appreciate your support.

[FreshThought]

Hi Michael. I am not a US citizen but I would like to commend you for what you are attempting. It is people like you that change the world to a better place. I think it wonderful to see you here. Please let us know when you are accepting those donations. All the best! It was lovely e-meeting you too.

Thank you for your encouragement and support. It will take all of us to keep our minds open to new ideas and listen to one another -- something that is sorely lacking these days. While I can't accept donations from anyone who is not a US citizen or permanent resident, I am excited to share the donation link (maybe even today). Any thoughts on the best way to share that link on a broader scale?

[naf]

Hi Michael. I am not a US citizen but I would like to commend you for what you are attempting. It is people like you that change the world to a better place. I think it wonderful to see you here. Please let us know when you are accepting those donations. All the best! It was lovely e-meeting you too.

Thank you for your encouragement and support. It will take all of us to keep our minds open to new ideas and listen to one another -- something that is sorely lacking these days. While I can't accept donations from anyone who is not a US citizen or permanent resident, I am excited to share the donation link (maybe even today). Any thoughts on the best way to share that link on a broader scale?

I have to ask for proofs of not coordinated scam.

[Mobshady24]

I am a Congressional Candidate who is supportive of Bitcoin (wow - $7,000!) and very supportive of blockchain technology (unlike other candidates who I am running against). I haven't announced that my campaign will accept donations through BitPay (although currently operational) because I want to make sure I hear from the Bitcoin community first. This being one of the most active communities that I have found so far, any help would be much appreciated.

I am Michael, btw. Hello and nice to e-meet you all. 

thats a good advocacy considering the bitcoin is very confusing to a lot of people, some says this and that i dont know how they actually understand bitcoin or the concept of virtual money. Most important thing to discuss is how business and people embrace the going industry of cryptocurrency, i believe capital gains should address properly as well.

[FreshThought]

Hi Michael. I am not a US citizen but I would like to commend you for what you are attempting. It is people like you that change the world to a better place. I think it wonderful to see you here. Please let us know when you are accepting those donations. All the best! It was lovely e-meeting you too.

Thank you for your encouragement and support. It will take all of us to keep our minds open to new ideas and listen to one another -- something that is sorely lacking these days. While I can't accept donations from anyone who is not a US citizen or permanent resident, I am excited to share the donation link (maybe even today). Any thoughts on the best way to share that link on a broader scale?

I have to ask for proofs of not coordinated scam.

Absolutely. Once I get everything setup, I'll share my official website, FEC ID #, etc. I appreciate the skepticism. It's healthy and a good thing. Can I share the details with you when everything is ready to go?

[naf]

Hi Michael. I am not a US citizen but I would like to commend you for what you are attempting. It is people like you that change the world to a better place. I think it wonderful to see you here. Please let us know when you are accepting those donations. All the best! It was lovely e-meeting you too.

Thank you for your encouragement and support. It will take all of us to keep our minds open to new ideas and listen to one another -- something that is sorely lacking these days. While I can't accept donations from anyone who is not a US citizen or permanent resident, I am excited to share the donation link (maybe even today). Any thoughts on the best way to share that link on a broader scale?

I have to ask for proofs of not coordinated scam.

Absolutely. Once I get everything setup, I'll share my official website, FEC ID #, etc. I appreciate the skepticism. It's healthy and a good thing. Can I share the details with you when everything is ready to go?

Not necessary, but don't share any 'donation link' till then.