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Lambofan35

Is anyone in the BITCOIN market?

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But I have never really traded anything in coinbase, I have always transferred it to somewhere else. So I have made $0 in coinbase.

 

Will I not have any liability?

 

IRS seems to be treating it like stock so you seem to get taxed on gains.

 

https://www.irs.gov/newsroom/irs-virtual-currency-guidance

 

http://fortune.com/2018/01/29/bitcoin-taxe...tocurrency-irs/

 

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Please allow me to summarize this thought,

 

“The greedier they are the harder they fall”

 

 

Hope all is good with you ,

 

Eric :)

 

True!

 

I am doing very good, thank you 👍

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Anyone know how this works?

 

Lets say I would put $10K into coinbase and then transfer it all to Bittrex and it just sits in Bittrex for 5 years and never goes back to coinbase, and I never made any money in coinbase, what would the resulting taxes be in that?

 

And if I transferred $10K back to coinbase and then back to my checking account what then?

 

Even if it climbed to a billion in Bittrex coinbase wouldn't know.

 

As i understand, any exchange for one currency to another is like exchanging to US dollar first and then to the other currency. So any exchange from one currency to another becomes a taxable transaction.

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“In my opinion, there is a gigantic speculative bubble related to bitcoin because this is neither a serious method of payment nor a good way to store capital,” he said. “Bitcoin feeds on itself” and there are no fundamental reasons for its price to reach such levels, Roubini explained"

 

 

Roubini said that "HODL nuts" will hold bitcoin until it plummets to zero.

 

source

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So can I claim a loss?

 

 

You can write off the loss up to 3000; any losses higher than that can be pushed into subsequent years.

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Are we still doing this ? LOL

 

Fortunately I sold all of it except 1 bitcoin when it got to $11,420. It's been added to my "buy a fun car" fund.

 

I figure I'll keep 1 bitcoin on a hardware wallet, forget what the password is, and leave my children frustrated one day when it's worth a ton of money again.

 

 

 

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Fortunately I sold all of it except 1 bitcoin when it got to $11,420. It's been added to my "buy a fun car" fund.

 

I figure I'll keep 1 bitcoin on a hardware wallet, forget what the password is, and leave my children frustrated one day when it's worth a ton of money again.

 

 

You might consider picking up a bit at the current prices. March is historically bad and things should pick up soon.

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Fortunately I sold all of it except 1 bitcoin when it got to $11,420. It's been added to my "buy a fun car" fund.

 

I figure I'll keep 1 bitcoin on a hardware wallet, forget what the password is, and leave my children frustrated one day when it's worth a ton of money again.

 

:lol2:

 

 

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I figure I'll keep 1 bitcoin on a hardware wallet, forget what the password is, and leave my children frustrated one day when it's worth a ton of money again.

 

:lol2:

 

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Been a while since this thread was active.

 

Anyone still buying cryptos or just holding quietly at this point?

 

l'm curious about ETH at these levels. I have a friend who has been averaging down for months now and who continues to rave about how much of an opportunity it is at these levels (sub $300, currently $275). That being said...he also said the same when it first fell under $500, so he may be more optimistic than most. I know he is holding 6-figures worth at this point though, so his confidence intrigues me. He also has a few BTC and LTC, but ETH is the one he is banking on.

 

 

Any opinions/thoughts appreciated! :)

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Been a while since this thread was active.

 

Anyone still buying cryptos or just holding quietly at this point?

 

l'm curious about ETH at these levels. I have a friend who has been averaging down for months now and who continues to rave about how much of an opportunity it is at these levels (sub $300, currently $275). That being said...he also said the same when it first fell under $500, so he may be more optimistic than most. I know he is holding 6-figures worth at this point though, so his confidence intrigues me. He also has a few BTC and LTC, but ETH is the one he is banking on.

 

 

Any opinions/thoughts appreciated! :)

 

Long term I am not a believer and think that most of these cryptocurrencies will vanish.

While I do think BTC, LTC & ETH will survive I would grab my profits and run in the short term.

Just my 2 cents. Vic

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Personally I am not into Bitcoin but I heard that some people started to buy commercial property in Costa Blanca https://tranio.com/commercial/spain/costa_blanca/  using Bitcoins. Have no idea how long you have to mine it and how much you have to have but apparently it's becoming like a real currency in some countries. Who knows what will happen with Bitcoin in 10 years from now.   

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