Official Bitcoin Thread

The end is near... smdh :lol:

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What the hell am I supposed to do for taxes :lol:

I didn’t move serious money this year, idk where to even start.
 
What the hell am I supposed to do for taxes :lol:

I didn’t move serious money this year, idk where to even start.
Speak with your accountant, you should report it as capital gains. But you only have to report if you sold coins and the cash you got from selling went back to your bank account. If you've just been purchasing coins and trading coins there isn't anything to report yet. This is the general consensus not sure if it has changed
 
You're making gains if youve been in that long.
I was 18 when this bitcoin thread was brought up and didnt do a an thing until 2 months ago. Lol

.

I only bought less than 1 bitcoin 1 ethereum and 1 litecoin (big 3) during that time but didnt do other alts until early december.
 
Speak with your accountant, you should report it as capital gains. But you only have to report if you sold coins and the cash you got from selling went back to your bank account. If you've just been purchasing coins and trading coins there isn't anything to report yet. This is the general consensus not sure if it has changed

So you’re going to get charge capital gain by taking the principal from one coin and purchase another coin?
 
Man Ttx stuck as hell at 10.5-11.5cents or 900sats. All the former Alibaba programmers in the world aint moving that needle.

Anybody pay for Cryptochoe's recommendations report? I was looking at the free version on his site www.cryptochoe.com

All this swing trading is bad for my health, gonna just purchase 4LTCs (right now I am all Verge plus $15 of dust from so much moving) and let them sit til Feb 2 to see if something happens there then throw that rack into something super cheap very long-term like Reddcoin, Kin, DigiByte, or ECC and another at something already there but can still grow like Verge or XLM or ENG. I can still enjoy the Lambo 4 yrs from now. I'll be 37
 
So you’re going to get charge capital gain by taking the principal from one coin and purchase another coin?
This is where it gets a little messy. Because I would assume you would just be converting from coin to coin (i.e. selling your xrp for btc then btc to xlm). Not selling a coin transferring the money back to your bank (i.e. chase, BofA) then buying btc from coinbase to exchange for other coins because that seems like a ton of fees going your way.
 
Man Ttx stuck as hell at 10.5-11.5cents or 900sats. All the former Alibaba programmers in the world aint moving that needle.

Anybody pay for Cryptochoe's recommendations report? I was looking at the free version on his site www.cryptochoe.com

All this swing trading is bad for my health, gonna just purchase 4LTCs (right now I am all Verge plus $15 of dust from so much moving) and let them sit til Feb 2 to see if something happens there then throw that rack into something super cheap very long-term like Reddcoin, Kin, DigiByte, or ECC and another at something already there but can still grow like Verge or XLM or ENG. I can still enjoy the Lambo 4 yrs from now. I'll be 37
Instead of chasing cheap garbage that will eventually be worthless why don’t you look for worthwhile tech that can go parabolic?
 
 

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