Bitcoins - about to hit $5,000 per coin today!

[SF1900]

This is what life is all about! Reading two getbig economic intellectuals debating! There is nothing greater!!

[Zillotch]

This is what life is all about! Reading two getbig economic intellectuals debating! There is nothing greater!!

u really do need to get out more... or, I recommend that u start smoking pot.

[Mr Anabolic]

Yes all transactions in bitcoin are permanently recorded on the blockchain by design. But if done right, it can be virtually impossible to tie a bitcoin address to a person.

When I bought physical gold and silver in the amounts I wanted, I had to do it through a bullion dealer which left a paper trail.

How do you buy gold anonymously, are there underground networks of gold trading I'm not aware of. It seems dangerous to physically transact gold with a stranger, I'd be scared of getting robbed. Or do some bullion dealers accept cash no questions asked, no receipts etc?

Either way, I don't own any bitcoin or precious metals at the moment so I am bearish on them both for now lol.

Let's see:  There's private transactions, local coins dealers/shops, internet forums, Craigslist and pawn shops. ALL cash transactions... no paper trails... totally private and untraceable.  Yes, there are some bullion dealers who take cash, but they usually have a limit of how much they can accept.    

Do not buy into the "bitcoin is anonymous" BS... it's simply not true.

[ratherbebig]

why would you want to be anonymous?

[SF1900]

u really do need to get out more... or, I recommend that u start smoking pot.

I am out now.

[Zillotch]

The last posting from your IP was less than 30 seconds ago. Please try again later.... god fuking dammit. I think i've had enough.

[ratherbebig]

Posts: 38092

i think you posted enough

[Mr Anabolic]

why would you want to be anonymous?

Blipcoin devotees think they are going to avoid paying taxes on their gains/profits.  They are fantasizing in their own little utopian dream world.  IRS will eventually find them.  Already happened to a close friend of mine.

[SF1900]

The last posting from your IP was less than 30 seconds ago. Please try again later.... god fuking dammit. I think i've had enough.

 

[HTexan]

why would you want to be anonymous?

Not having to deal with exchanges when traveling, is one reason.

[ratherbebig]

Blipcoin devotees think they are going to avoid paying taxes on their gains/profits.  They are fantasizing in their own little utopian dream world.  IRS will eventually find them.  Already happened to a close friend of mine.

with the profits they are making on bitcoins they should afford to pay taxes

[Mr Anabolic]

with the profits they are making on bitcoins they should afford to pay taxes

Sure, if they don't spend all the cash first.   

[ratherbebig]

i would like to see a thread about all the stock you couldve bought the last 30+ years and how much money you would've made on that...

and then a thread about the real estate etc

why is bitcoin so special ? it isnt. just something nerds like to talk about.

[El Diablo Blanco]

with the profits they are making on bitcoins they should afford to pay taxes

People are dumping their money into bitcoin to avoid paying taxes. 

[JAGO]

Pure obfuscation.  YOU are the delusional one.  You drank so much crypto Kool-Aid, you're drunk... so drunk that it has impaired all critical thinking processes you may have had.

Someone critiques your precious Ponzi tulips and pokes holes through your faulty logic, you shoot the messenger and start name calling.  Very, very typical of a diehard bitcoin devotee.  

Bitcoin is bubble Ponzi scheme... period.  Totally intangible and worthless.  It is a digital illusion of wealth.  The only reason you're in and defending this Ponzi scam is to get something for nothing and to get rich quick... no other reason.    

I can not fix what your mother did to you. Take care.

J

[SOMEPARTS]

I can't say for sure and if they are, what is your point?

J

[SOMEPARTS]

BOOOOOM


https://www.yahoo.com/tech/coinbase-ordered-turn-over-data-235635616.html


"On Wednesday, a federal judge in San Francisco ruled that Coinbase must supply the IRS with identifying information on users who had more than $20,000 in annual transactions on its platform between 2013 and 2015"

"The IRS initially requested nine kinds of user data, including "complete user profiles, know-your-customer due diligence, documents regarding third-party access, transaction logs, records of payments processed, correspondence between Coinbase and Coinbase users, account or invoice statements and records of payments."

"Rejecting some of those requests, today the court narrowed the scope of documents that the IRS can request from Coinbase to taxpayer ID number, name, date of birth, address, transaction logs and account statements, deeming the rest of the documents "not necessary." Again, these personal data requests will only apply to accounts that have bought, sold, sent or received more than $20,000 in any of those types of transactions between 2013 and 2015."

At 10k per coin, that's 3-4k to the govt PER COIN on all coins held since last year. They have already proven that they can do this retroactively. There is no such thing as easy legal gains.

[SOMEPARTS]

Gib you better take some profits soon.


At a White house presser, Sarah Huckabee Sanders:

"Bitcoin is something that is being monitored by our team...Homeland Security is involved."

[gib]

Blipcoin devotees think they are going to avoid paying taxes on their gains/profits.  They are fantasizing in their own little utopian dream world.  IRS will eventually find them.  Already happened to a close friend of mine.

Many of us don't live in the US where we have blood sucking IRS trying to steal from us - so we keep all our gains and pay zero tax on all gains - IRS in the US can only really find out if you buy via an exchange - and in such a case you are paying taxes just like you would be paying for gains for companies bought on the stock exchange so nothing unusual there - except for BTC you also buy peer to peer entirely anon and therefore avoid the exchange and avoid the IRS

[gib]

Oh and now I read that PWC one of the largest accounting firms in the world will start accepting BTC as payment in HK - and I bet they don't accept gold Mr Anabolic - just another sign of the move towards legitimacy and mainstream for BTC as the modern day equavelent of gold

www.scmp.com/business/companies/article/2122349/accounting-big-four-pwc-accepts-bitcoin-payment-hong-kong

[gib]

Oh and now I read that PWC one of the largest accounting firms in the world will start accepting BTC as payment in HK - and I bet they don't accept gold Mr Anabolic - just another sign of the move towards legitimacy and mainstream for BTC as the modern day equavelent of gold

www.scmp.com/business/companies/article/2122349/accounting-big-four-pwc-accepts-bitcoin-payment-hong-kong

“As the firm works increasingly with companies in the digital asset and cryptocurrency space, it believes that accepting such payments will evolve into an element of doing business in the normal course,” said the statement.

[gib]

Cash out... the money goes into a bank account... taxman starts investigating.   Anonymous? 

I’ve tried to explain this many times. First of all, in many countries you don’t pay tax on any capital gain. In some countries it depends on if you could be classified as a professional trader (in which case it might be taxable) or if it was simply an “incidental gain”.

Further if you buy/sell peer to peer (and accept payment in cash, or gold or services) then its anon. What many will do in the future is to have a stash of btc massively risen in value and realise their gains by spending btc over time for goods and services in whatever country they happen to be in.

[SOMEPARTS]

Gib, Getbig's own financial Icarus.

[Mr Anabolic]

Many of us don't live in the US where we have blood sucking IRS trying to steal from us - so we keep all our gains and pay zero tax on all gains - IRS in the US can only really find out if you buy via an exchange - and in such a case you are paying taxes just like you would be paying for gains for companies bought on the stock exchange so nothing unusual there - except for BTC you also buy peer to peer entirely anon and therefore avoid the exchange and avoid the IRS

Yeah I know... foreign tax authorities can't find you or tax your bitcoins... you're special.

lol

[Mr Anabolic]

I’ve tried to explain this many times. First of all, in many countries you don’t pay tax on any capital gain. In some countries it depends on if you could be classified as a professional trader (in which case it might be taxable) or if it was simply an “incidental gain”.

Further if you buy/sell peer to peer (and accept payment in cash, or gold or services) then its anon. What many will do in the future is to have a stash of btc massively risen in value and realise their gains by spending btc over time for goods and services in whatever country they happen to be in.

Again... taxes and tax laws don't apply to you... you're special.