I didn't pay capital gains tax on bitcoin sales to IRS today

[Sage]

...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.

Let them show "conclusive evidence".  Let them try to ban Bitcoin.  Let them vilify it.  Let them marginalize its users.  Let them fight it all they want.

And just as banning books makes them coveted, banning Bitcoin will only make Bitcoin stronger.

Anyone with half a brain can see the clear advantage of crypto currencies.  And realize they can't ban it anymore then they can ban email or bittorrent.

There is no appeasing that system.

There's no trying to abide by their rules.  Bitcoin & the current system of fiat simply cannot co-exist. 

The more Bitcoin users who openly speak up, the more of the lemmings will begin to realize they too don't have to bow to their masters any longer.

The more people speak up & opening challenge the corrupt & evil system, the better.

There is a way out.  Nobody has to bow to that system any longer.  The more who stand up & shout what everyone is thinking anyway, but too spineless to say it, the better.

[1715260030]

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[Sage]

...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.

And the guy doesn't know the difference between "pour" and "pore".

My $.02.

...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems? 

If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.

Only small minds would discount the message because of spelling or grammar errors.

[LostDutchman]

...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.

And the guy doesn't know the difference between "pour" and "pore".

My $.02.

...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems? 

If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.

Only small minds would discount the message because of spelling or grammar errors.

Oh, may I disagree?

Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.

At any rate, the thread continues.................................

My $.02.

[Sage]

...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.

And the guy doesn't know the difference between "pour" and "pore".

My $.02.

...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems? 

If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.

Only small minds would discount the message because of spelling or grammar errors.

Oh, may I disagree?

Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.

At any rate, the thread continues.................................

My $.02.

There's a reason they don't write chapters in history books or make movies about 'great' editors & spellers.

Editors & spell checkers come a dime a dozen.

[LostDutchman]

...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.

And the guy doesn't know the difference between "pour" and "pore".

My $.02.

...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems? 

If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.

Only small minds would discount the message because of spelling or grammar errors.

Oh, may I disagree?

Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.

At any rate, the thread continues.................................

My $.02.

There's a reason they don't write chapters in history books or make movies about 'great' editors & spellers.

Editors & spell checkers come a dime a dozen.

True and they contribute to the overall dumbing down of the society as a whole.

Donte have to rite gud if them softywears tak kare of thing for you.

My $.02.



P.S.

Behind every successful writer there is at least one editor and you're correct, one doesn't hear about them but they are indeed there.

[WindMaster]

Show me one single benefit you or any other American receives as a consequence of the income tax!

For one, the NSA provides the most excellent online backup service ever created!  No configuration is required by the end-user, every piece of data the end-user passes over the Internet is beam-split from the fiber feeds into each Internet exchange and telco hotel, analyzed by the best hardware and software money can buy from Narus, then backed up automatically in the largest storage cluster of hard drives ever amassed in one location on earth in their superb and highly secure Utah Data Center (http://en.wikipedia.org/wiki/Utah_Data_Center).  Best of all, the service is offered free of charge, to every person in the world, not just US citizens.  And when it comes time to retrieve your data after a hard drive crash, just a few short clicks and..  Umm..  Hmm..

[precrime3]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?

[🏰 TradeFortress 🏰]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

you're a moron

[LostDutchman]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you. 

you're a moron

Thank you for your accurate post!

+1

My $.02.

[Sage]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.  

you're a moron

Thank you for your accurate post!

+1

My $.02.

Would that "accurate post" be because if people start ignoring the scam that is the IRS they wouldn't need your services any longer?

[Sage]

The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.

To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.

So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.  

you're a moron

Any moron can call anyone a moron.  And when anyone resorts to name calling you can be assured they have no facts to stand on.

...So I would take your assessment as a compliment.

[roy7]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?

You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.

[cryptoanarchist]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?

You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.

Of course, no one - including the IRS - can show ANY evidence that these rules apply to anyone.

[precrime3]

OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.

but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why

1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.

I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?

You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.

Of course, no one - including the IRS - can show ANY evidence that these rules apply to anyone.

That's true, but always that random audit.
..

[LostDutchman]

The Sixteenth Amendment:

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

Don't cut off the head of the messenger please!

My $.02.

[cryptoanarchist]

No letters or calls from the IRS yet. Sounds like all the fear-mongering was empty threats.

Cryptocoins are the death of taxes and the state - deal with it.

[Sage]

The Sixteenth Amendment:

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

Don't cut off the head of the messenger please!

My $.02.

Who do you bow to LostDutchman?  Any law they pass?  Regardless of the ethics & morals behind it?

Let's assume for a moment that the 16th amendment actually was constitutional, & legally ratified (which it was not)...

....Does that mean we should bow to it?

Step back & look at the bigger picture.

The income tax & the federal reserve scam behind it work together to enslave us all.

The wealth that comes from that scam is used by central banks to foment wars for profit, only to further enslave nation states to those psychopathic Banksters.

That's what you are bowing to, LostDutchman, when you setup those corporations for your clients to "abide by the law".  A system that leads to nothing but torture, death, & mayhem in the world.

The only ethical, moral, & patriotic thing to do is to ignore those evil systems.  Do not empower that monster any longer.

Don't just refuse to send in that yearly confessional.  But also refuse to use the federal reserve note (the dollar).   Refuse to use the SSN (slave surveillance number).  And do your business is non-debt based money... gold, silver, crypto currencies.

...And sleep at night, knowing your wealth wasn't used to torture, enslave, or murder anyone tonight.
 

Lastly, a thought for you to ponder, LostDutchman...

“You assist an evil system most effectively by obeying its orders and decrees. An evil system never deserves such allegiance. Allegiance to it means partaking of the evil. A good person will resist an evil system with his or her whole soul.” -Mahatma Gandhi


Anyone who participates in that system is knowingly, or unknowingly enabling that evil.  Regardless of how aware they are or not, that choice carries a karmic consequence.

The only ethical, moral thing to do is use every tool at your disposal to carry out non-violent civil disobedience... refusing to enable that system at any & all cost.  Be willing to be jailed or die before enabling that evil system.

...That's the only way the inhumane aberration known as central banking that has caused so much pain and suffering in the world will ever be abolished.

[BitOnyx]

IRS regulation is probably biggest problem for people who make exchanges on mtgox.

In worst case I heard Canada is nice country to live in

[LostDutchman]

The Sixteenth Amendment:

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

Don't cut off the head of the messenger please!

My $.02.

Who do you bow to LostDutchman?  Any law they pass?  Regardless of the ethics & morals behind it?

Let's assume for a moment that the 16th amendment actually was constitutional, & legally ratified (which it was not)...

....Does that mean we should bow to it?

Step back & look at the bigger picture.

The income tax & the federal reserve scam behind it work together to enslave us all.

The wealth that comes from that scam is used by central banks to foment wars for profit, only to further enslave nation states to those psychopathic Banksters.

That's what you are bowing to, LostDutchman, when you setup those corporations for your clients to "abide by the law".  A system that leads to nothing but torture, death, & mayhem in the world.

The only ethical, moral, & patriotic thing to do is to ignore those evil systems.  Do not empower that monster any longer.

Don't just refuse to send in that yearly confessional.  But also refuse to use the federal reserve note (the dollar).   Refuse to use the SSN (slave surveillance number).  And do your business is non-debt based money... gold, silver, crypto currencies.

...And sleep at night, knowing your wealth wasn't used to torture, enslave, or murder anyone tonight.
 

Lastly, a thought for you to ponder, LostDutchman...

“You assist an evil system most effectively by obeying its orders and decrees. An evil system never deserves such allegiance. Allegiance to it means partaking of the evil. A good person will resist an evil system with his or her whole soul.” -Mahatma Gandhi


Anyone who participates in that system is knowingly, or unknowingly enabling that evil.  Regardless of how aware they are or not, that choice carries a karmic consequence.

The only ethical, moral thing to do is use every tool at your disposal to carry out non-violent civil disobedience... refusing to enable that system at any & all cost.  Be willing to be jailed or die before enabling that evil system.

...That's the only way the inhumane aberration known as central banking that has caused so much pain and suffering in the world will ever be abolished.

My goodness, that was profound!

Silly but profound.

My $.02.

[Sage]

The Sixteenth Amendment:

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

Don't cut off the head of the messenger please!

My $.02.

Who do you bow to LostDutchman?  Any law they pass?  Regardless of the ethics & morals behind it?

Let's assume for a moment that the 16th amendment actually was constitutional, & legally ratified (which it was not)...

....Does that mean we should bow to it?

Step back & look at the bigger picture.

The income tax & the federal reserve scam behind it work together to enslave us all.

The wealth that comes from that scam is used by central banks to foment wars for profit, only to further enslave nation states to those psychopathic Banksters.

That's what you are bowing to, LostDutchman, when you setup those corporations for your clients to "abide by the law".  A system that leads to nothing but torture, death, & mayhem in the world.

The only ethical, moral, & patriotic thing to do is to ignore those evil systems.  Do not empower that monster any longer.

Don't just refuse to send in that yearly confessional.  But also refuse to use the federal reserve note (the dollar).   Refuse to use the SSN (slave surveillance number).  And do your business is non-debt based money... gold, silver, crypto currencies.

...And sleep at night, knowing your wealth wasn't used to torture, enslave, or murder anyone tonight.
 

Lastly, a thought for you to ponder, LostDutchman...

“You assist an evil system most effectively by obeying its orders and decrees. An evil system never deserves such allegiance. Allegiance to it means partaking of the evil. A good person will resist an evil system with his or her whole soul.” -Mahatma Gandhi


Anyone who participates in that system is knowingly, or unknowingly enabling that evil.  Regardless of how aware they are or not, that choice carries a karmic consequence.

The only ethical, moral thing to do is use every tool at your disposal to carry out non-violent civil disobedience... refusing to enable that system at any & all cost.  Be willing to be jailed or die before enabling that evil system.

...That's the only way the inhumane aberration known as central banking that has caused so much pain and suffering in the world will ever be abolished.

My goodness, that was profound!

Silly but profound.

My $.02.

Of course it's "silly" to an agent of that system.

Ridicule is the oldest tactic in the book.  You're going to have to come up with something better then that, LostDutchman, to save that dying system you're an agent for.