@888theGreat true but still
I do both
I got them when they first surfaced
Did you sell them? did you report as income?
@888theGreat Coinbase wasn't reporting at that time so NO. tax free.
Wrong. It is considered income. Gov't will be looking for you, you better come clean and report it.
@888theGreat what are taxes?
@888thegreat bahahahahahahahaha You crack me up man
I just hope you like black and white stripes or orange , Biden is tax crazy
@888theGreat Biden is busy eating ice cream. Now is the time to cash in... get some shibu man.. going to the moon.
Nope , the hype will not last. You are living a fantasy. Gov't will not allow a competing cashless coin. If so , go print some $100 bills and go buy something. See what happens. There was some guys here that had a pet store and in back they were printing $20 bills , I never saw so many agents take them down. Bullets were flying. One agent ended up on the hood of car shooting through the window shield. Those guys serve 25 years , killers serve 3 years. Don't counterfeit or not pay taxes.
Not to mention only 2000 companies in America will accept bit coin , what is that like 1% of the total businesses in America? Most countries won't allow their use either. China as banned them. America will to. You can't get away from America system. Only 1% of the population trade them now is the only reason the Gov't hasn't taken them over. People are also getting hacked and bit coins stolen, which was guaranteed not to happen.
@888theGreat All true and? I just made 10k on shibu in the last 5 days... thanks for the info lol
You sold and them and have $10,000 in your hands?
@888theGreat Dude clean the glue out of your ears. ... 500 bucks got me 10k in 5 days... yes I cashed out. when it goes down I buy more with there money... what is wrong with you?
People say when a stock goes up , I made money. You don't make it until you actually sell it. Ok, and you don't plan to list that as income minus $500 next year?
@888theGreat Coinbase will send me the info... I just keep buying. I suggest you do too. Buy Shibu now because when it hits 1 cent I will be rich and you will be still giving out this lame advice of avoiding the risk. Throw 500 hundy at it... thank me later.
At least I will be a free man. That prison food ain't very good. And God help you if you drop the bar of soap. Of course you are the dating guy , so maybe you will be able to work it out with Tim and Frank.
@888theGreat wtf are you even talking about?
oh, you talking to me? Ok , people that don't report their income go to prison. Ask Pete Rose. He didn't think signing autographs was taxable.
@888theGreat you're getting on my damn nerves dude dm the people.
I am asking and responding to a question and being asked questions. So, don't ask the question if you don't want people to answer.
@888theGreat I know Pete personally he is doing okay.
@888theGreat you rant like a psychiatric patient
I didn't ask for crazy
Sure as shit got it though
@WowwGirl Get some Shibnu... it's worthi it
Never said he wasn't. Amazing how you completely twist my responses. I know half the major league umpires. Trained by Harry Wendlestedt.
@888thegreat Pete is doing just fine... i was a bouncer for him and Tommy Helms at their restaurant we all stay in touch... get some crypto man...
I just state the facts income from Bit Coin is taxable
@888theGreat Okay its taxable so what.. . why not get some? I don't have to work because of crypto.. get shibu now dude... thank me later.. stop with all this nonsense.
@coachTanthony I'll contact you on that one I'm curious
@WowwGirl it's called Shiba Inu... look it up.
I know psychology of marketing sir😏 I'll spread the word for you
And I will check it out thanks
Lol fun reading this. You should take a look at ARX too.
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So are you saying it’s a good thing that the feds can track it to catch cyber criminals or are you saying it’s a bad thing the feds were able to track the cyber criminals are you for the feds or the criminals
@humpbackjack That's a good question.I've never been a fan of cryptocurrency for the simple reason that they can be legislated out of existence. And, now, we really know that, if you use it, they can find you... It's worthless because it's not crypto at all. Instead, use the original crypto: cash. Anyway, investing in cryptocurrency is dangerous because, if it becomes outlawed, its value falls to $0. A lot of people will lose a lot of money - REAL money - if that happens.As for the existence of cryptocurrency for capturing criminals, I am all for it.Again, though, really, I don't support crypto because, in the long-run, crypto users are going to get fucked. It's not a question of "if" but of "when".
... and I don't want to see a lot of people get fucked over because of a bad investment decision.
Are you sure of that because I just looked up the story and they didn’t necessarily track them by Bitcoin it’s possible they found them through their investigation of some cyber criminal group in Russia that sold them the ransom ware to do the heist and as far as the recovery they some how gained access to the key for the wallet and there’s a few theories on how it could of been from their surveillance of either group or most likely through the emails they intercepted so there’s a chance they tracked them through Bitcoin but there’s also just as much if not more of a chance it’s through the surveillance of the Russians that brought them to the wallet. Even if they did track them through Bitcoin who cares I won’t be doing anything illegal and SEC has already said they’re not banning Bitcoin and I expect them to tax it and I don’t mind giving my country a fair percentage of my profits also don’t you think if the US was going to ban it they would have a long time ago? So you’re going to see SEC approve a few more (because they’ve actually already approved one Bitcoin etf) etf’s here possibly by the end of this month but definitely by the end of next month so how about we revisit this when the decision comes from SEC of course the sad thing is the price is going to sky rocket when the other one get approved and I think the etf that already got approved was Volt something etf I’ll try and find that article they’re not going to approve this stuff and then shut it down plus there’s too much big money involved in Bitcoin
@humpbackjack The fact of the matter is that cryptocurrency, by its very nature, is not actually crypto. It can't be. Think about it like this:When you go to the post office and mail a letter, you just go there and buy a stamp (which you could pay in cash, but that's not relevant right now), slap that stamp on the envelope, and stick the envelope in the mail. You don't HAVE to have a return address on the envelope and don't have to have your name or any other identifying information in the contents of that envelope.But cryptocurrency doesn't work that way. Crypto is like going to the post office and doing registered and certified mail. You have to have identifying information on the envelope and have complete tracking. For cryptocurrency to go from one person to another, there ultimately is a chain of actions that are all recorded.=========Basically, what my boss at GE said to me 20 years ago holds:"If you don't want it to appear on the cover of The New York Times tomorrow morning, then don't send it."This is because everything on the Internet involves IP addresses and timestamps. Sure, obfuscation can make tracking difficult, but, ultimately, it can be done.
About crypto, I think you are neglecting a fundamental aspect of economics called monetary policy. To regulate the economy and protect it from wild swings, the Federal Government controls monetary policy via altering tax rates and the money supply.Furthermore, you need to remember some important aspects of American history...When the nation declared independence in 1776, the nation was a collection of 13 states that would have a national government operating under the Articles of Confederation in 1777. During the Confederation Era (1777-1789), there was no national currency and this was a major reason why the national government was weak and that the United States was not very united.From "10 reasons why America’s first constitution failed":constitutioncenter.org/.../10-reasons-why-americas-first-constitution-failed"8. States had their own money systems. There wasn’t a common currency in the Confederation era. The central government and the states each had separate money, which made trade between the states, and other countries, extremely difficult."(more)
The Founding Fathers knew the Articles of Confederation were a problem. At first, they were going to update the Articles, but they realized they needed to start over and have a strong national government. Thus, they chose that the US should not be a confederation but a federation and so they created the Federal Government under the US Constitution. And a fundamental part of that was the creation of a national currency because that helps with growth and unity. This is why Article I Section 8 regarding the Powers of Congress includes these powers:"The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;To borrow Money on the credit of the United States;To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;"==========Cryptocurrencies are small now, but if they were to become a very significant part of the economy, they threaten all this. This will be recognized by some smart lawyers who will eventually file a lawsuit in the Federal District Court asserting that the cryptocurrency companies are unconstitutional as a violation of Article I Section 8. They might lose the case, but they will win it if they can show harm and that Congress's laws permitting cryptocurrency are unconstitutional because "To coin Money" is an enumerated power of only the United States Federal Government.
You mess with whales or something?
I swim where I can
Your name dear 😂
Humpbackjack works for now what is your name
Humpback whale your name reminded me of that
Keep reading about it and only read current stories and as much as you can find and you better hurry or you’re going to miss it our countries economy is fixing to collapse like worse than the Great Depression
It’s solving the problem of centralized currency.
No it doesn't. It's not scalable the computing power to handle transactions is growing the longer the system is operating. The people with most power is the people who can completely override the system, how is this different from banks? The rich get richer the poor people can be completely left out the loop if you exploit the algorithm. And you still have human errors. They don't solve anything. Just shuffle things around and create new issues.
It's scaling fine. New systems have evolved, it's doing fine. The actual threshold for scaling is the light barrier at the scale of interplanetary economics.No one has the kind of computational power to override it. Then there's also forking. You need both the majority of computational power in the world and the support of the majority of people using it indefinitely to control it and the more people that use it the more secure it becomes. And that's just the first gen coins, e. g BTC.The difference from banks is that they don't have arbitrary control of what your wealth. The poor can retain value better with crypto rather than constantly losing to inflation."And you still have human errors."That's more of an argument *for* crypto, not against. You trust the fucking government to make sound decisions for millions of people? Crypto gives you a hedge against that. You should have enough fiat for your normal spending habits. Everything else should be invested in a diverse range of assets which will hold their value better than government monopoly money when things inevitably go through cycles of being fucked up and people making mistakes. Crypto is one of those things that protects you from that mess.
"They don't solve anything. Just shuffle things around and create new issues."For starters, it's retained value better than your fiat has. It give the little person a way of diversifying assets to guard against government economic manipulation. It's doing good things and will continue to do more if only people will let it. People hear bad things about it because it's new and those interested in maintaining economic control over people want to keep that control, but this assumes people know anything more about the current system they use. People stick to fiat because they already have it and it's easy, but if they paid attention to the Fed and the bullshit that goes on at that level of economics then they'd know the system they're using is trash and crypto would be much more appealing. Once it's been around for a while, people will just use crypto like it's always been there, just like how they arbitrarily trust centralized control now, except unbeknownst to them, they'll be better off.
It's impossible to ban... maybe that's why it hasn't been done.
@jannick_hausnann of course it's possible to ban.
@jannick_hausnann it's already been done in China and many other countries around the world. To ban and monitor it here in the US will only cost about $8 billion a year. If cryptocurrencies do become the new type of currency, it will devalue fiat currencies because people will use it far less, thus wreaking havoc on the country's economy. Its own success will most likely be their downfall.
Read as much current information on it as you possibly can then make a decision but do it fast and look at where it is now compared to what it cost when you were messing with it before
Also you realize that all the markets go up and down constantly look at gold it’s up and down all the time just study on it and decide for yourself and you only lose money if you sell cheaper then what you payed for it just let it ride and see what happens after you study on it if course
Do you know how much energy is wasted "mining" crypto currency?
Savor they’ve solved a lot of the energy issues and look at El Salvador and definitely don’t listen to guys like Elon who manipulates the prices by spewing old facts especially since the footprint his mines are leaving and the energy they burn through is by far worse
Yes, and the energy is not "wasted", the product is cryptocurrency functionality.And I suppose we're just going to ignore everything that's invested into maintaining fiat?
@zagor isn't that hard mining?
The value of the product is purely speculative. Which of course can be said of any currency. But it this case it wastes vast amounts of energy to reward those who - are willing to consume vast amounts of energy to that end.
Again, it doesn’t use that much, there’s plenty that outpaces it, nor is it wasteful. It’s better than fiat. You’re getting access to an asset that hedges against inflation, government economic manipulation, etc.
It is estimated that it uses as much power as the entire nation of Argentina...
lol. You know what else does? All of Argentina. Along with 50 other countries. It’s really quite low. So yes, thank you for validating my point that there’s many more things and worse things to be focusing on before you throw shade at crypto for using a fraction of a percentile of the world’s energy.
The fact that it's not controlled by the Fed is why people want bitcoin in the first place.
@EnglishEuropean yes, but also why it’s unstable. I was saying it will stabilize as it becomes more in use.
I like unstable. I'm comfortable there
@WowwGirl My life is unstable, but that’s because the economy isn’t…
I understand the price action is very volatile. The wise investor has a diverse portfolio.
@EnglishEuropean yeah. And stocks can be volatile too, it’s just they’re controlled by big business or the fed. Crypto needs to go through it’s lumps. Bitcoin could be the peoples cash in 10 years. I don't know
Blockchain sounds like a xman or g. i Joe bad guy
Juggernaut and Blockchain
More like a villain. Because the “block”. But it would largely protect average consumers. And the elites hate it.
So assuming I want to keep my ass, what is a worthy investment? You are no leaving that many options on the table...
@Shizunk Gold and Silver , you don't get cash flow , but it will stay in front of inflation, so you won't lose anything either. So you buy 3 silver ounces at $22 an ounce and jeans are $60 , then our inflation cycle pushes Jeans to $120 , you will have that covered because silver will be $44 an ounce. Art : Art stays ahead of inflation too. I have metals and Art. I bought a limited print of Dali for $100 , now it is worth $30,000.00. Lincoln in Dalivision. If you want cheaper metals , copper pounds and Nickel pounds are good too. If world war 3 , Nickel will be better than Gold.
A sham doesn’t usually stick around as long as Bitcoin has and you should check your facts because SEC has already said they aren’t going to ban any cryptocurrency mainly Bitcoin as a matter of fact they’re softening their stance and about to get on board even if just in little steps especially with Canada already making Bitcoin etf’s legal and look at how successful El Salvador making it their currency @Shizunk don’t take anybody’s advice that you don’t even know google it yourself and read only current stories and read several because there’s a lot of miss information out there so read several and make up your own mind
@humpbackjack Only 2000 US businesses will accept it , that doesn't sound like soft. China has banned it , another fact.
This is like the seventh time China has banned it and it doesn’t have any control over it so banning it is pointless and visa is coming out with a card that you can make purchases any where visa is accepted pay pal already is set up to accept Bitcoin and how old is the story you read about the 2000 businesses because I believe that’s an old number but the visa and pay pal thing makes it a mute point anyways
@humpbackjack Listen moron , if China makes it a law you can not buy any thing with it , you can't. China tracks every thing you do. They know how much you shit in the toilet. They will take you outside and shoot you. Same for US , if they outlaw it , you will go to prison.
Yeah will check this out dumb ass SEC has already said they won’t outlaw it and that’s fact and again dumb ass China has banned now for the seventh time and it hasn’t but caused small hiccups that Bitcoin recovers from quickly and the last six times they banned it it wasn’t long before the Chinese were using it again so stop being a dumb ass and open your eyes or better yet stay broke it won’t bother me any
Crypto has made me a millionaire. I diversified into real estate and use the passive income to buy more assets. Guess my life is a sham.
Investing into something that doesn't have a variable value is not investing.
You? Not know 😮
Yeah I just haven't looked into it much.
I did well
@888theGreat I didn't ask you
Not if you bought them years ago
Husband I thought you had a crush
You need to step back and look at the whole picture from its beginning to where it is now the gains have been pretty steady for long term investors and anyone that has lost money panicked and sold while it was down because they blindly bought something they didn’t understand so the first time a correction hits and it drops 10-30% they panic thinking it’s going to crash when all they’d have to do is stay strong and hold until the price went back up. You buy during the dips you never sell during the dips
Learn it you could retire way early I’m not saying to buy anything I’m saying to read everything you can find about it at worse you expanded your knowledge
Basically though it can be very dangerous cause not all countries accept that type of currency and you can't convert it into other real currencies. I have heard places having success with it though like in Nigeria. Because of how much stealing and corruption there is in their gov and bank system. Son If I am not mistaken its good for real third world countries like that.
Gov't can and will crush it very soon
Why please explain