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Originally Posted by Freakzilla (Post 1145578)

Look what you put here a week ago bro

Originally Posted by yankee (Post 1145575)

This thread is great! What a timeline. I look back and think if I bought coins for a few hundred bucks, what they would be worth now. At the same time, I am positive I made a heck of a lot more ROI in business than holding coins. Magnitudes more.

A question for Nate: How does it look like it will be taxed in the future? Capital gains?
What about cashing out or transferring it over seas? Such as leaving the USA and creating a new life in say Georgia or Panama?

Originally Posted by slokor (Post 1145610)

True if youre trying to get into the game now.
The time was back in 2015. I got a substantial amount back then and have never had reason to regret that decision.

Originally Posted by yankee (Post 1145575)

A question for Nate: How does it look like it will be taxed in the future? Capital gains?
What about cashing out or transferring it over seas? Such as leaving the USA and creating a new life in say Georgia or Panama?

Originally Posted by nate (Post 1145771)

As it is now its taxed as short or long term capital gain. I think it is going to get harder and harder to denounce citizenship with large holdings of bitcoin without giving Uncle Sam what he thinks is his, Binance U.S. takes biometrics to verify identity during account creation. Others will probably follow.

Originally Posted by agent006140 (Post 1147342)

2 questions,just read in the newspaper-
-is it true you have to declare your crypto holding in the tax return this year?
-when you use your bitcoins to buy a TSLA,IRS considers a sale of your bitcoin and you wll pay capital gain tax to Fed and if you are in CA,state tax?/

Originally Posted by agent006140 (Post 1147342)

2 questions,just read in the newspaper-
-is it true you have to declare your crypto holding in the tax return this year?
-when you use your bitcoins to buy a TSLA,IRS considers a sale of your bitcoin and you wll pay capital gain tax to Fed and if you are in CA,state tax?/

Originally Posted by vogeltron (Post 686459)

Just curious I think the technology is amazing. Hard to say what will happen with fintech.

Originally Posted by jeffweico (Post 686539)

A few years ago, someone sent me a message on eBay asking if I would take Bitcoin for an item that I had listed. Nobody had ever asked me that before. The item had been listed for months and wasn't selling. It was only $50. So, I got his email and we made the deal. I had always been interested in Bitcoin, but had never come across a reason for using it. I think I got 10 or 11 Bitcoins for the item.

When I took them, I felt stupid because I had my Bitcoin wallet on my PC and thought I would lose them if my hard drive ever crashed. But it wasn't a big deal to me, because we were talking about $50.

A year and a half later, the price of Bitcoins went through the roof! I sold them for $185 each and used the money (after Mt. Gox fees) to have a landscaper come out and create the garden I have always wanted but never wanted to pay for.

I have not done anything with Bitcoins since, because of the volatility, but I do accept them when selling eBay accounts. I would definitely convert them into real dollars as quickly as possible, because the price could very quickly go either way and I - despite my one GOOD experience - am usually on the LOSING end of speculative investments.

Originally Posted by vogeltron (Post 1238454)

I'm back anyone still out there?