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djatc
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December 28th, 2019 at 9:25:26 PM permalink
Anyone wanna sell me 1 BTC? Trusted people on the forum only.
"Man Babes" #AxelFabulous
AxelWolf
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December 28th, 2019 at 10:02:38 PM permalink
Quote: djatc

Anyone wanna sell me 1 BTC? Trusted people on the forum only.

I've been trying to buy Bitcoin since forever from individuals and it's rare that I've ever been able to get any. I'm actually owed back a couple thousand in BTC right now. I will sell you one for 8,000. It's a good deal considering you probably read the same article I did.

If you actually need some Bitcoin for a quick transaction like a sports bet or something like that then hit me up via text.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
RS
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December 28th, 2019 at 10:54:52 PM permalink
WTB 2 BTC. COD
AxelWolf
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December 28th, 2019 at 10:56:07 PM permalink
Quote: RS

WTB 2 BTC. COD

They may be unsafe, untrustworthy, or illegal in your jurisdiction.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
CASGamble2
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December 30th, 2019 at 4:52:47 AM permalink
It's going to be difficult to try and find someone to trade for it, let alone sell you it.
rxwine
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May 31st, 2020 at 11:00:51 AM permalink
Perhaps this is just news to me, but I saw a bitcoin vending machine at my local gas station, mini convenience store. "Buy Bitcoin" Then it had the price. At the bottom, it had, "Need a bitcoin wallet".

I call it vending, but not sure what it vends.
There's no secret. Just know what you're talking about before you open your mouth.
AZDuffman
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May 31st, 2020 at 11:46:47 AM permalink
Quote: rxwine

Perhaps this is just news to me, but I saw a bitcoin vending machine at my local gas station, mini convenience store. "Buy Bitcoin" Then it had the price. At the bottom, it had, "Need a bitcoin wallet".

I call it vending, but not sure what it vends.



Coinstar has had that for a few years.
All animals are equal, but some are more equal than others
OnceDear
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May 31st, 2020 at 12:10:41 PM permalink
Quote: rxwine

Perhaps this is just news to me, but I saw a bitcoin vending machine at my local gas station, mini convenience store. "Buy Bitcoin" Then it had the price. At the bottom, it had, "Need a bitcoin wallet".

I call it vending, but not sure what it vends.

Usually monstrous fees and exchange rate.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
rxwine
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September 29th, 2020 at 9:07:09 PM permalink
I thought this was a interesting headline, but unfortunately it's behind the paywall of the Wall St. Journal

Quote:

The IRS Sets a Trap for Cryptocurrency Tax Cheats
The tax collector is making it a lot harder to pretend you donít have bitcoin or other virtual currencies hidden away somewhere



https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202
There's no secret. Just know what you're talking about before you open your mouth.
AxelWolf
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October 6th, 2020 at 2:09:36 PM permalink
Founders And Executives Of Off-Shore Cryptocurrency Derivatives Exchange Charged With Violation Of The Bank Secrecy Act
https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
SOOPOO
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October 7th, 2020 at 8:32:39 AM permalink
Quote: AxelWolf

Founders And Executives Of Off-Shore Cryptocurrency Derivatives Exchange Charged With Violation Of The Bank Secrecy Act
https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation



Thanks for the link, Axel. Apparently Hayes is from Buffalo, so I tried to get some info on him, with little success. Seems to be a new billionairre that lives in Hong Kong now. I doubt he shows up for a trial. If convicted, I think this could put a SIGNIFICANT downward pressure on Bitcoin. Sell now!
AxelWolf
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October 7th, 2020 at 8:57:18 AM permalink
Quote: SOOPOO

Thanks for the link, Axel. Apparently Hayes is from Buffalo, so I tried to get some info on him, with little success. Seems to be a new billionairre that lives in Hong Kong now. I doubt he shows up for a trial. If convicted, I think this could put a SIGNIFICANT downward pressure on Bitcoin. Sell now!

I think the price dropped a few percent on that news. I don't think it's going to have a significant impact overall. Bitcoins here to stay.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
billryan
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RogerKint
October 7th, 2020 at 11:18:33 AM permalink
Bitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.
The difference between fiction and reality is that fiction is supposed to make sense.
AZDuffman
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October 7th, 2020 at 12:33:00 PM permalink
Quote: billryan

Bitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.



I would give this more weight if you knew there is no plural. It is "Bitcoin" whether you have a fraction of a unit or many units.
All animals are equal, but some are more equal than others
AxelWolf
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October 7th, 2020 at 2:18:08 PM permalink
Quote: billryan

Bitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.

And yet it's been around for 10 years. I think you'd be better off comparing it to the Internet stock bubble craze. You just need to find a few good ones.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
unJon
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October 7th, 2020 at 2:40:38 PM permalink
Quote: billryan

Bitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.



Iíd be surprised if many people donít get the reference.

Everything is a bubble with a long enough time horizon.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
billryan
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October 7th, 2020 at 3:10:49 PM permalink
Quote: AZDuffman

I would give this more weight if you knew there is no plural. It is "Bitcoin" whether you have a fraction of a unit or many units.




A google inquiry- what are bitcoins gave me two million plus results. Nothing on the front page corrected it to bitcoin.
Wiki states that about 20% of all bitcoins are lost and there is nothing the rightful owner can do if the key is lost. It is currently selling for just a bit over 50% of its high from several years ago. I have no idea why people think this is a good thing to invest in.
Can you insure them? My collectibles/investments are all fully insured. Can you buy any sort of insurance or does that defeat the purpose by creating a paper trail?
Last edited by: billryan on Oct 7, 2020
The difference between fiction and reality is that fiction is supposed to make sense.
AZDuffman
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October 8th, 2020 at 2:56:07 AM permalink
Quote: billryan


Can you insure them? My collectibles/investments are all fully insured. Can you buy any sort of insurance or does that defeat the purpose by creating a paper trail?



No real reason to insure them. Or do you mean can you buy protective puts? I have never looked into that. Probably somewhere, but like insuring a stock you will pay big and it is not worth it long term. If you could buy puts and write calls to make a collar maybe it would work.
All animals are equal, but some are more equal than others
billryan
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October 8th, 2020 at 4:03:36 AM permalink
One in five bitcoins are lost. Think about it. One in five people who buy one will never cash it in and it becomes worthless. If that isn't a reason to insure them, I'm not sure what is.
The difference between fiction and reality is that fiction is supposed to make sense.
AxelWolf
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October 8th, 2020 at 4:10:03 AM permalink
Quote: billryan


Wiki states that about 20% of all bitcoins are lost and there is nothing the rightful owner can do if the key is lost.

I wouldn't say I'm necessarily an investor but more of an accumulator, since I use it frequently (I have speculated a few times and I purchased some when it dipped really low). Someone can lose their wallet or just about anything.

I'm not sure ,but I think that figure might be a little misleading. How much of that 20% was lost when Bitcoin was easy to mine and basically had very little value. At that time? I'm sure people didn't really care or want to be bothered with keeping track of it properly and we're very careless. Kind of like how people were careless with baseball cards when they were practically worthless and plentiful.

I had like $20 worth of Bitcoin back when it was in the $500 range while experimenting with a crypto wallet app on my phone. It was only 20 bucks worth so I didn't really keep track of the key and I've long since replace that phone.

One can buy a crypto wallet you don't need the key in order to access the crypto wallet, you just need a PIN number. If you happen to lose your crypto wallet you can buy another one and use your key and access your coins. You can also just keep your coins on a crypto Exchange. You could split up your cryptocurrency I'm Different exchanges and multiple hard wallets. Whatever the case, if you do it correctly you can Safeguard yourself from all that and even split up your BTC in different wallets and on different exchanges.
Last edited by: AxelWolf on Oct 8, 2020
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
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October 8th, 2020 at 10:31:47 AM permalink
Quote: billryan

One in five bitcoins are lost. Think about it. One in five people who buy one will never cash it in and it becomes worthless. If that isn't a reason to insure them, I'm not sure what is.

Mine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
PokerGrinder
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October 8th, 2020 at 12:52:50 PM permalink
Quote: OnceDear

Mine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.


I agree, my trezor is all the security I need. If I lose it I have two back up 24 word keys stored securely in separate places.
You can shear a sheep a hundred times, but you can skin it only once. ó Amarillo Slim Preston
SOOPOO
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October 8th, 2020 at 2:25:49 PM permalink
Quote: PokerGrinder

I agree, my trezor is all the security I need. If I lose it I have two back up 24 word keys stored securely in separate places.



PG.... if you die, will your heirs know what to do to monetize your bitcoin? My regular bank accounts/stock accounts easily transfer to my heirs. They donít have to find a 24 word key stored somewhere. Would someone even know you own a bitcoin?
PokerGrinder
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October 8th, 2020 at 2:43:42 PM permalink
Yes there are detailed instructions on what to do if I die. Everything is laid out so that nothing can go wrong. Iíve also explained it to my parents and my sister. My financial advisor also knows what to do if somehow all 4 of us pass at once.
You can shear a sheep a hundred times, but you can skin it only once. ó Amarillo Slim Preston
vegas
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October 9th, 2020 at 5:29:57 AM permalink
Quote: OnceDear

Mine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.





I don't have a clue what you just said. I don't use bitcoin as it just seems to complicated.
50-50-90 Rule: Anytime you have a 50-50 chance of getting something right, there is a 90% probability you'll get it wrong
AxelWolf
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October 9th, 2020 at 5:41:57 AM permalink
Quote: vegas

I don't have a clue what you just said. I don't use bitcoin as it just seems to complicated.

it's really not that much more complicated than using a credit card or online banking/ PayPal. Once you have it set up, it's pretty easy to use you simply click send or receive and copy and paste the address(most people used to factor Authentication on their Exchange). You don't have to have fancy hard wallets to use it, you just have to get on a crypto exchange like coinbase. Using a hard wallet is a way to avoid keeping it on an exchange.

Be honest, I don't know what everyone uses cryptocurrency for. I just know it's the easiest thing to use for online casinos.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
gamerfreak
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October 9th, 2020 at 6:38:08 AM permalink
Quote: AxelWolf

Be honest, I don't know what everyone uses cryptocurrency for. I just know it's the easiest thing to use for online casinos.


Drugs, mostly.
AZDuffman
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November 30th, 2020 at 4:13:58 PM permalink
We hit a record today!

Where does it end this time?
All animals are equal, but some are more equal than others
AxelWolf
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November 30th, 2020 at 4:18:35 PM permalink
Quote: AZDuffman

We hit a record today!

Where does it end this time?

my Wizcoin would be worth a lot Today but since I didn't PM him it didn't get my request...
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Tanko
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December 1st, 2020 at 4:35:39 AM permalink
Quote: AZDuffman

We hit a record today!

Where does it end this time?



Don't know, but it's up more than 200% since the Fed made this QE announcement on March23rd. It was falling prior to that.
AZDuffman
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December 1st, 2020 at 8:39:29 AM permalink
Quote: Tanko

Don't know, but it's up more than 200% since the Fed made this QE announcement on March23rd. It was falling prior to that.



It crashed during what we could call "virus week." That was a great week to invest in almost anything if you figured we would have a bad year but recover. I was lucky and had just sold a flip house the first few days of March, for once in my life timing was good!

Currently we are getting more and more institutional support. 2017 was more Asian day traders. It is very possible we run to six figures thus time then another pullback.
All animals are equal, but some are more equal than others
OnceDear
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December 1st, 2020 at 9:55:01 AM permalink
Just by the by... Yesterday as the BTC price was peaking, I was receiving a few hundred dollars worth. In spite of the 'normal' priority fee being paid by the sender, it took nearly 8 hours for the first confirmation to occur. Never seen that before. Usually more like 20 minutes.
.
I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AxelWolf
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January 8th, 2021 at 2:20:22 AM permalink
1 Bitcoin equals
39,618.80 United States Dollar
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AZDuffman
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January 8th, 2021 at 2:58:26 AM permalink
Quote: OnceDear

Just by the by... Yesterday as the BTC price was peaking, I was receiving a few hundred dollars worth. In spite of the 'normal' priority fee being paid by the sender, it took nearly 8 hours for the first confirmation to occur. Never seen that before. Usually more like 20 minutes.
.
I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.



That is the flaw. All the buying slows things. Like when all those idiots were buying virtual cats with ETH a few years back,
All animals are equal, but some are more equal than others
OnceDear
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January 8th, 2021 at 3:15:45 AM permalink
Quote: AZDuffman

Quote: OnceDear

Just by the by... Yesterday as the BTC price was peaking, I was receiving a few hundred dollars worth. In spite of the 'normal' priority fee being paid by the sender, it took nearly 8 hours for the first confirmation to occur. Never seen that before. Usually more like 20 minutes.
.
I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.



That is the flaw. All the buying slows things. Like when all those idiots were buying virtual cats with ETH a few years back,

I don't know about buying virtual cats with ETH, but as flaws go, this hiccup was trivial.

I now have a chunk of wealth invested in Bitcoin and liquidity is not a problem YET.
Converting to Fiat currency will present a bit of an obstacle, especially in a post-internet world or if trying to use a mainstream Exchange.
Unfortunately UK tax authorities treat Bitcoin much the same as stocks and shares and NOT as a currency. So, I have to either keep a close eye on potential Capital Gains Tax issues, or I have to just embrace a grey economy approach.
An issue for my heirs, dealing with 'Know Your Customer' regulations.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AxelWolf
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January 8th, 2021 at 6:54:05 AM permalink
1 Bitcoin equals
41,267.00 United States Dollar
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
SOOPOO
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January 8th, 2021 at 1:47:41 PM permalink
Quote: AxelWolf

1 Bitcoin equals
41,267.00 United States Dollar



Not anymore. Now $39,800. So anyone who just decided to jump in is down around 4%. Anyone who jumped in at the recent low (5800) is up around 700%.

I am not smart enough to even understand why it is volatile. And certainly not smart enough to know if it goes to $50k before back to $35k.
billryan
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January 8th, 2021 at 3:30:35 PM permalink
Quote: gamerfreak

Drugs, mostly.




I sold an early Spider-Man comic last week for about $15,000. If we'd gone through Paypal, it would have cost me close to $500. I'm not sure how it was done, but using crypto-currency, I had $14,875 in my bank account a day later.
I still have zero faith in its long term value, but I now see it can be useful in some transactions. The book was on consignment and the owner expected to be charged the Paypal fees so he was very happy when he found out I'd saved him 75% in fees.
The difference between fiction and reality is that fiction is supposed to make sense.
AxelWolf
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January 8th, 2021 at 4:22:05 PM permalink
Quote: SOOPOO

Not anymore. Now $39,800. So anyone who just decided to jump in is down around 4%. Anyone who jumped in at the recent low (5800) is up around 700%.

I am not smart enough to even understand why it is volatile. And certainly not smart enough to know if it goes to $50k before back to $35k.


$
4
0
,
9
4
1
.
0
0
as of now. I have no idea who would buy it at this price, I guess the people who think it's going to 100k.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
SOOPOO
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January 8th, 2021 at 4:26:51 PM permalink
Quote: AxelWolf

$
4
0
,
9
4
1
.
0
0
as of now. I have no idea who would buy it at this price.



Did you not as that same question at $10k? $20k? $30k? When itís $50k, will you be asking..... Ďwhy was I so stupid not to buy at $40k? I donít understand it. Probably never will.
AZDuffman
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January 8th, 2021 at 5:56:35 PM permalink
Quote: AxelWolf


as of now. I have no idea who would buy it at this price, I guess the people who think it's going to 100k.



Institutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.
All animals are equal, but some are more equal than others
SOOPOO
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January 8th, 2021 at 6:00:54 PM permalink
Quote: AZDuffman

Institutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.



Noobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....
AZDuffman
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January 8th, 2021 at 6:08:03 PM permalink
Quote: SOOPOO

Noobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....



"Which part you are selling" does not matter. It is like a stock capital gain AFIK. You could go FIFO or weighed average. Again AFIK.

BTW: It is really not proper to use a plural. One Bitcoin, many Bitcoin.
All animals are equal, but some are more equal than others
SOOPOO
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January 8th, 2021 at 6:16:30 PM permalink
Quote: AZDuffman



BTW: It is really not proper to use a plural. One Bitcoin, many Bitcoin.



I learned something today!
AxelWolf
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January 8th, 2021 at 7:24:05 PM permalink
Quote: AZDuffman

Institutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.

I forgot you can now buy it with PP. I'm not buy or selling right now. I did sell some over the last few months. I just have a feeling it's going to take a big hit soon. I have nothing to back that up, it's just a gut feeling.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
PokerGrinder
PokerGrinder
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January 9th, 2021 at 1:20:59 AM permalink
Quote: AxelWolf

I forgot you can now buy it with PP. I'm not buy or selling right now. I did sell some over the last few months. I just have a feeling it's going to take a big hit soon. I have nothing to back that up, it's just a gut feeling.


And I appreciate all the cheap ass btc you sold me lol!
You can shear a sheep a hundred times, but you can skin it only once. ó Amarillo Slim Preston
AxelWolf
AxelWolf
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January 9th, 2021 at 1:47:20 AM permalink
Quote: PokerGrinder

And I appreciate all the cheap ass btc you sold me lol!

You will need it for your criminal defence when they finally figure out why you really love traveling around the world.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
AxelWolf
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OnceDear
January 9th, 2021 at 1:47:20 AM permalink
Quote: PokerGrinder

And I appreciate all the cheap ass btc you sold me lol!

You will need it for your criminal defence when they finally figure out why you really love traveling around the world.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
OnceDear
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ChumpChange
January 9th, 2021 at 2:23:44 AM permalink
Quote: SOOPOO

Noobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....

Hi Soopoo. With coinbase your coins are mixed in with their's and CB just maintain an account balance for you. You neither own nor control the coins at all. So No. You cannot direct them to sell chosen BTC.
Here in the UK, our tax authority HMRC, treat BTC like a stock or share and EVERY purchase with BTC or conversion to fiat, is deemed a disposal at the going rate. Because we have to report purchases and disposals on our CGT ( Capital gains tax) returns beyond a certain low level, it means a massive amount of record keeping. Failing to do that causes problems when disposing of big quantities.
NOTE: Coinbase is reporting transactions to IRS and HMRC. Personally I would not use CB for anything more than a few hundred dollars a year in transactions. I keep my BTC keys on a trezor hardware wallet.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
PokerGrinder
PokerGrinder
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January 9th, 2021 at 3:26:12 AM permalink
Quote: AxelWolf

You will need it for your criminal defence when they finally figure out why you really love traveling around the world.


🙄

OD Iím the same, I donít use anything but my trezor.
You can shear a sheep a hundred times, but you can skin it only once. ó Amarillo Slim Preston
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