Crypto Currencies ~ " Duck Tales Spin From The Crypt"

If you’re willing to pay to get in one, I noticed this today: (check their first pic) https://www.instagram.com/officialbitcoin

Who knows how accurate they are though.

 

They are all a pymrid scheme anyway. The owners are the ones that make the real money... the rest are just pawns that might get lucky.... although, by luck I did ride that TRX wave pretty well.. but held upon a friend's advice even though I had cold feet at 3x.

 

Binance apparently opened registrations a few minutes ago for those not already signed up.

 

Yep, and a TRX has seen some more movement. Had a super low buy order, that got filled during the nightly low... i have a hunch.


Now it looks like I am trying to pump it. For the record I'm not!

 

Got in on that, thanks for the heads up!

 

That was painless, thanks for the heads up.

 

Now they are saying not just the white paper is plagiarized but that trons code is also just copy pasted. I bought it under 5c and dumped at its ATH. So I made money on them but not again.

 

Important tax stuff for 'Muricans
https://www.fool.com/taxes/2018/01/15/bad-news-republicans-just-closed-this-lucrative-cr.aspx

copy paste from article;
According to the U.S. tax code through Dec. 31, 2017, assets that qualify under the like-kind exchange rules can avoid capital-gains tax. One such "investment" that qualified was cryptocurrencies. An investor could sell bitcoin and purchase Ethereum, Ripple, or any other of the hundreds of investable cryptocurrencies, and claim it was a like-kind exchange, thus avoiding capital-gains taxation. Considering that the combined market cap of virtual currencies jumped more than 3,300% last year, the like-kind exchange loophole may have saved cryptocurrency investors a fortune... for now.

I'm sure us Snow Mexicans won't be so lucky and have to give up gains to pay for stupid gov crap, like more fancy socks and professional photographer selfies for our prime princess turddough

 

So how is everyone tracking their trades for tax purposes?

 

Seeing as how I've done nothing but lose money... I'm not exactly worried about this just yet.

 

What trades

 

I would think it gets even more complicated when it comes to mining. What's to say that my investment isn't from the mining rig I built, ran, and then sold? I guess they could look at bank transactions? But really if I buy 1 ltc and then sell 10, I could just say the other 9 where mined.
Wow, Am I a criminal?

 

The IRS still says you only pay tax when you realize profits by cashing out in US dollars, or purchasing items. https://www.irs.gov/pub/irs-drop/n-14-21.pdf

If you deposit north of $10K in any bank account you will get flagged and the IRS knows. There are many examples of people getting all of their assets seized by "bracketing" and depositing $9999 a day to avoid that flag. It's much safer to just pay Uncle Sugar his cut.

 

Don't forget a million dollar grant for some senators nephew to study underwater gerbil flatulence.

 

I'm not a lawyer, but that's how it works with stocks.

 

Income tax
Capital gains tax

 

That's ridiculous. It was Hamster cage matches and it was awesome. https://www.dailywire.com/news/12309/9-ridiculous-things-government-wasted-money-year-aaron-bandler

 

I will note whatever earnings I take out in fiat

 

So just ignoring the crypto-crypto trades? I mean if the exchanges aren't reporting them (Binance, etc.) then how will the IRS know other than self reporting? Coinbase/GDAX is sticky since they're in the IRS spotlight already.

 

You have to remember a lot of these exchanges arent US based. Binance for instance is a Chinese company but it based all over. Think they said British Virgin Islands is their main headquarters to avoid regulations and the such