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Question: How would you rate Bitcoin Savings & Trust?
5 - Excellent
4 - Very Good
3 - Good
2 - Fair
1 - Poor
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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: Bitcoin Savings and Trust | Home | Closed  (Read 695858 times)
zyk
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July 04, 2012, 07:55:11 PM
 #1401

by the way ... is BCST taxable?
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July 04, 2012, 07:55:58 PM
 #1402

by the way ... is BCST taxable?
If the tax man knows you are making 7% per week, the tax man wants his cut.

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July 04, 2012, 08:13:38 PM
 #1403

by the way ... is BCST taxable?
If the tax man knows you are making 7% per week, the tax man wants his cut.

ALL capital gains are taxable!!  We have had these tax discussions many, many times already. When in doubt, ask your accountant/CPA.....

@Buluna, it is very much likely your WOW gold will eventually be taxed. You seem to not be keeping up on the IRS and tax laws. New blizzard RMAH, while it may not get taxed directly, if you cash out through Paypal you will find yourself falling under their newer reporting requirements. Which right now are still $20k before they 1099-K you(citation neeeded). Same with Amzon for example, " Re: Does Amazon Send You A 1099/ Here it is straight from Amazon
Posted: Apr 20, 2011 3:46 PM    in response to: jgreen30     Reply  

Hello to All ,
Amazon sent me the following :

Hello from Amazon,

We're writing to let you know about new Internal Revenue Service (IRS) regulations that may impact your seller account.

Beginning with the 2011 tax year, new IRS regulations require that U.S. payment processors, including Amazon, file Form 1099-K for sellers that exceed $20,000 in gross sales and 200 transactions in a calendar year. The regulations also require that registered sellers (regardless of account status and sales volume) have taxpayer identification information on file in order for backup withholding not to apply on gross sales."



Just 2 examples. You may say, "well, I only make $1200 whole year from RMAH sales, or BTC sales". Do what you want but legally you should be reporting it imho.

Yes, I filed last year and will file this year my capital gains/losses from Bitcoin related activies..

 

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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July 04, 2012, 09:05:15 PM
 #1404

Pirate's primary (and only one, so far as I know) is because if he disclosed his operation, it would allow more competition to come in.  But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market.  He's already #1 by a HUGE margin.  Why not just disclose the working operations of your business and put all the nay-sayers to rest?  Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.

THIS!! right here, totally agree, hes the iPad of the BTC, and probably anyone who want to compete it will be uphill a really high hill BTW

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July 04, 2012, 09:34:03 PM
 #1405

Pirate's primary (and only one, so far as I know) is because if he disclosed his operation, it would allow more competition to come in.  But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market.  He's already #1 by a HUGE margin.  Why not just disclose the working operations of your business and put all the nay-sayers to rest?  Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.

Because there aren't any working operations. There is no business to disclose.

Withdraw your principal + gains, if you still can.

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July 04, 2012, 09:37:48 PM
 #1406

Pirate's primary reason (and only one, so far as I know) for not disclosing his business is because if he did, it would allow more competition to come in.  But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market.  He's already #1 by a HUGE margin.  Why not just disclose the working operations of your business and put all the nay-sayers to rest?  Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.

This.

Pirate promises to pay 3300% per year, ARE YOU FKING SERIOUS?

Nuff said.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
drakahn
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July 04, 2012, 09:38:58 PM
 #1407

Pirate's primary reason (and only one, so far as I know) for not disclosing his business is because if he did, it would allow more competition to come in.  But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market.  He's already #1 by a HUGE margin.  Why not just disclose the working operations of your business and put all the nay-sayers to rest?  Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.

This.

Pirate promises to pay 3300% per year, ARE YOU FKING SERIOUS?

Nuff said.
Where did he promise it'd be 7%/week for a year with unlimited deposits?

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pirateat40
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July 04, 2012, 09:46:42 PM
 #1408

This thread is locked until further notice.

pirateat40
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July 05, 2012, 03:12:18 PM
 #1409

New Bitcoin Savings & Trust IRC Channel

Connect using your favorite IRC client or a web client like Mibbit

Channel name: #btcst
Network: Freenode

See you there. Smiley

pirateat40
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July 23, 2012, 04:44:54 PM
 #1410

Update

Starting today, I've lifted the referral only requirement to open a Savings account. 

The switch date is being moved to Aug 13th due to me being out of town and a delay in the rollout of the website update. 

Any account that holds more than 5k BTC will automatically be upgraded to a Trust account on that day.

Accounts opened from today to the switch date will be paid the current rates until the switch happens.

Thanks,

-pirate

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