Bitcoin

crush said:
This dude was about to spill the beans, a prosecutors dream, but "they" decided to keep his mouth shut instead. What a trip. He was 100% paying the Dems with other peoples money because their shell games are over!!! One of my best pals bought into bitcoin at $48,000 and tried to get me in on this once in a lifetime chance at $55K. I hope it makes a come back.
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He probably didn’t buy a whole coin. You could have bought $10 worth if you wanted to.
 
Bruddah IZ said:
Do you know what kind of coins and who was her account with?
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Long story.

Involves liens, her ex, government, fraud. This was her bank account.

But her ex did have his crypto account hacked. The idiot was using public wifi for his Kraken account when his account was wiped clean of 100k.

I'm on a ledger.
 
Bruddah IZ said:
This article cracks me up. The author writes as if cryptocurrency has not been volatile and has not lost a lot of value for investors. Please tell me how rich those thieves are again?
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Richard Espola as usual outsmarts himself. Kinda like how he has me on "ignore" but logs in as a guest to read my post...
 
Multi Sport said:
Bitcoin.. only up to $34k.

I doubt this is the start of another run. Too much uncertainty in the world right now. But... the world's going digital. Guys like Richard Espola shouldn't get involved in this even if he claims to be a cryptographer...
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Up 10k since I posted in October. Magoo.. you see that?
 
$57K today. I remember when it was $55K then down to $15K. My pal says it will go to $100K and then split.
 
$67K today. My buddy called it. He bought low and now he's flying high. Something smells fishy but I'm super happy for him. He plays stocks, real estate, poker in Vegas. Dude is very smart cat. Up $35K already this year playing against drunk fools.
 
Of course, why couldn't you? It's an asset just like anything else. It isn't a security where wash-trading rules would apply to keep people from selling at a loss and immediately buying. But every time you buy or sell it (or almost any asset), there is a taxable event, where you owe taxes on the gains (and can deduct the losses). Nobody is likely to care if someone is playing with a small amount of money and doesn't self-report it. But if they are buying/selling material amounts of money's worth on a US-regulated exchange - and don't track their taxable events, they are in for a nasty surprise if/when the IRS gets curious about their activity.

Anyone who owns bitcoin through another entity other than just having the keys themselves, is subject to whatever rules that entity has in place - whether it is a mutual fund through their non-taxable retirement account, one of the newer ETF's, or any of the rules that the exchange itself has.
 
RandomSoccerFan said:
Of course, why couldn't you? It's an asset just like anything else. It isn't a security where wash-trading rules would apply to keep people from selling at a loss and immediately buying. But every time you buy or sell it (or almost any asset), there is a taxable event, where you owe taxes on the gains (and can deduct the losses). Nobody is likely to care if someone is playing with a small amount of money and doesn't self-report it. But if they are buying/selling material amounts of money's worth on a US-regulated exchange - and don't track their taxable events, they are in for a nasty surprise if/when the IRS gets curious about their activity.

Anyone who owns bitcoin through another entity other than just having the keys themselves, is subject to whatever rules that entity has in place - whether it is a mutual fund through their non-taxable retirement account, one of the newer ETF's, or any of the rules that the exchange itself has.
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Thanks for the answer. Warren Buffet says there is no true value in the coin and it's not backed by anything. My buddy say's it backed by the people and no middleman. I'm just curious and appreciate feedback. I have never seen so many ads by weirdos on Instagram, so it does give me pause.
 
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