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Author Topic: Buying stocks with Bitcoin profits  (Read 2977 times)
guyrx
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April 28, 2014, 06:24:01 AM
 #41

If one wants to continue gambling, then one can take the profits from bitcoin and dump them into the marijuana stocks, which have just corrected, and continue on with that high risk appetite OR one can buy Utilities stocks for the dividends. I've been thinking about all those bubbles that have happened recently - 3D printing, bitcoin mining, marijuana stocks (and by extension MJ growing).  What's the common factor behind it all? They all require a lot of power. Hence, utilities stocks.
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April 28, 2014, 09:36:00 AM
 #42

Speaking of latest bubbles. I feel that electric cars will start dominating the market soon. Think of the missing air plane for example, supposedly it was transporting some patent holders for Nikolai Tesla's suppressed technology which is deemed to be the reason for the flight to get missing. Also, the Tesla Motors' electric cars are really impressive.

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April 28, 2014, 09:46:51 AM
 #43

http://www.snopes.com/politics/conspiracy/malaysiapatent.asp

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
*my posts are not investment advice*
PhoneBloks
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April 28, 2014, 01:58:57 PM
 #44

I would like to make sure that my first million won't be the last one. For this I would reinvest a portion of my bitcoin profits to stocks.

3 questions rise:
1. Must I pay income tax before investing my bitcoin earnings to stocks?
2. How profitable can stocks be?
3. This is probably lame but: what stocks would you suggest to buy?

I wouldn't own stocks to trade them but to get the dividends. However, I have no idea how profitable stocks are in that sense. Can anyone tell me how much money I should invest in some nice stocks in order for them to earn me noticeable dividends?



My point of view

1, Depends on country, here in Europe, my country, you dont need to declare where you have your money from Wink So ...here no
2, As much profitable as you can loose ...WIthout inside info its gambling Wink
3, Big market caps (over 5Bln) wich have low price ...

see this

http://www.gurufocus.com/stock/PBR

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PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
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April 30, 2014, 09:53:43 AM
 #45


Seems plausible, some conspiracy theories are lame.

Back to the topic. Speaking of bitcoin profits, what do you guys think of such plan:
1. go to work
2. get a loan and buy a X, Y or Z
3. pay back the loan gradually from your salary
4. live off your bitcoin profits (food, toilet paper, booze, hookers, drugs)

When loan gets paid back, you have saved a lot of bitcoins because during that time the value went up. Also, because you only cashed out the pocket money and spent it on stuff that is hard to tax, you dodged the taxes. Win win, no?

Worst case scenario 1:
1. you lose your job
2. declare your bitcoin profits and just pay back the whole loan at once

Worst case scenario 2:
1. Bitcoin loses its value and you don't have any PeerCoins either.
2. At least you have your job, but now you're the system's slave. No more drugs and hookers.

Worst case scenario 3:
(most likely due to the first law of the universe --- conservation of irony)
1. You lose your job, bitcoin loses its value and you go to jail for tax evasion
2. Say "IT WAS WORTH IT" and take what life gives you.

Any takers?

CobaltPH
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April 30, 2014, 02:28:38 PM
 #46


Seems plausible, some conspiracy theories are lame.

Back to the topic. Speaking of bitcoin profits, what do you guys think of such plan:
1. go to work
2. get a loan and buy a X, Y or Z
3. pay back the loan gradually from your salary
4. live off your bitcoin profits (food, toilet paper, booze, hookers, drugs)

When loan gets paid back, you have saved a lot of bitcoins because during that time the value went up. Also, because you only cashed out the pocket money and spent it on stuff that is hard to tax, you dodged the taxes. Win win, no?

Worst case scenario 1:
1. you lose your job
2. declare your bitcoin profits and just pay back the whole loan at once

Worst case scenario 2:
1. Bitcoin loses its value and you don't have any PeerCoins either.
2. At least you have your job, but now you're the system's slave. No more drugs and hookers.

Worst case scenario 3:
(most likely due to the first law of the universe --- conservation of irony)
1. You lose your job, bitcoin loses its value and you go to jail for tax evasion
2. Say "IT WAS WORTH IT" and take what life gives you.

Any takers?

1,2,3,4 all yes but with a consideration:

I would try to prevent worst case scenarios. It is plausible that your state will want to put his hands on your treasure and IMO you must declare it somehow unless you keep it in btc as it is. In order to transform your bitcoins into other kind of properties you have to declare your wealth, at least partially.
This said, I would decide to apply the most convenient taxation I could find, adapting existing laws to your particoular case (of course with the help of a professionist) in such a way it would be honestly plausible to explain your choices in front of a government-issued inspection / tribunal / other state attempts to get more money from you. You can't go to jail for breaking a rule which doesn't even exist yet, but of course you have to pay taxes especially if you are now a millionaire. Remember you hold your bitcoins steady on your pocket and you can trade a good bargain with your local administration BEFORE transforming btc into other assets.

Otherwise take an airplane to a btc-accepting country and enjoy freedom. Thus I would definitely prefer living where I already am and find a way to do so without being raped by the local tax office.

Hyena
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May 01, 2014, 07:30:08 AM
 #47

being raped by the local tax office.

I guess what I was trying to propose was that if you work then there are less questions of where your money comes from, thus taking a loan for a house or whatever seems possible. Still, you don't want to work your ass off, but just enough to make it plausible that you can afford a loan. You don't really want to work, so the job you choose should be super easy and have as few working days as possible, just enough to explain how you pay your loan while living off bread scraps and water. But instead of bread scraps, you can afford something better as if your salary was a little greater. The free time you get from such a system can be reinvested in your personal bitcoin project for example. Once your project succeeds, you can hire yourself and then bitcoin profits are no longer needed and can remain as a long term investment --- untouched.

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