Any Bitcoin or Cyrptocurrency enthusiasts?

[james_112233]

Originally Posted by Freakzilla

Look what you put here a week ago bro

I know.

But seeing the price spike and friends constantly banging on about it. I'm tempted.

[james_112233]

Originally Posted by yankee

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?

Exactly.

This is what I keep telling myself. Just carry on with business ...

You have to invest too much hard earned money with the potential of losing it all to make a profit in crypto.

But then the gambler in me wants to do it.

[slokor]

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.

[yankee]

Originally Posted by slokor

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.

You never continued to acquire BTC?

If I could collect BTC incognito and worry about transfer or moving later, I would most likely do that. Forced savings if you will.

[slokor]

Oh I continued accumulating it throughout and I still accept it.
I am in the very convenient position of never having had to actually purchase a single satoshi - All of the BTC I have was received as payments over the years. So yes it is very much 'incognito' as well - which is VERY convenient as well.
Wish I started accepting it earlier and wish I had pushed it more back in the day but overall I cant realy complain.

[nate]

Originally Posted by yankee

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?

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.

[yankee]

Originally Posted by nate

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.

Nate, how about corporate ownership and use? I hear it is not taxed the same as individual and can be used similar to cash. I know you are in several BTC groups and follow these changes like a hawk.
Any input or hearsay?

[@NasterXchange]

Originally Posted by agent006140

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?/

Unfortunately I'm afraid we can't give such advice here.

[SaiJin]

Originally Posted by agent006140

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?/

if it's in the crypto form, then no... they can't tax you until you cash it.

[slokor]

I myself trade on the ETH/BTC pair. Its almost obscene how easy it is to make money this way...

[vogeltron]

I'm back anyone still out there?

Originally Posted by vogeltron

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

[vogeltron]

Damn a $700,000 USD landscaping job.

Originally Posted by jeffweico

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.

[rsot]

Originally Posted by vogeltron

I'm back anyone still out there?

Hah old thread - wait to revive it

[yobar]

Hello guys, I have been using BTC and ETH for some time. In general, we always do very well in our profits. In my case, I keep all my profits in cold wallets. I have the rest in an internet wallet outside the United States.
Speaking of this BTC, I would like to go to El Salvador, and be able to pay with BTC.

[vogeltron]

Wild!! That was an expensive landscaping job!

Originally Posted by jeffweico

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.

[BlackLion]

I'll never invest in BTC

[rsot]

Originally Posted by agent006140

what is in El Salvador>
Its citizens were given some free Bitcoins and they immediately spent it !

Have you travelled to South America? If not, get moving and get cultured

[vogeltron]

Wow a $1 million dollar landscaping job! Friggin nuts!!!!

Originally Posted by jeffweico

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.

[JamesNorth101]

Originally Posted by vogeltron

Wow a $1 million dollar landscaping job! Friggin nuts!!!!

Ha things certainly have gone through the roof since 2015!

[rsot]

Originally Posted by JamesNorth101

Ha things certainly have gone through the roof since 2015!

Hindsight 20 20...best not to think about it hah

[james_112233]

Originally Posted by rsot

Hindsight 20 20...best not to think about it hah

Lol fairly sure the service providers on this board have essentially found themselves a money tree anyway. They don't need crypto like the rest of us plebs looking to escape poverty.

[vogeltron]

Yes, I often times feel dead inside for starting a thread like this almost 10 years ago and not having the kind of conviction I could have.

Originally Posted by rsot

Hindsight 20 20...best not to think about it hah