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Wellbush
Wellbush
Joined: Mar 23, 2021
  • Threads: 9
  • Posts: 697
March 29th, 2021 at 12:12:09 AM permalink
They say commodities are on the rise, and their mining stocks could boom. I got money in gold stocks and bullion etfs
Note: WOV considers all betting systems worthless. All persons reading my posts gamble at their own risk, as I do. I don't ordinarily dispute math. I may dispute math I don't understand, or if I think it's faulty. I am not a conspiracy theorist. I don't ordinarily intend to insult, unless of course, you deserve return fire!
unJon
unJon
Joined: Jul 1, 2018
  • Threads: 14
  • Posts: 2867
March 29th, 2021 at 4:21:33 AM permalink
Quote: Wellbush

They say commodities are on the rise, and their mining stocks could boom. I got money in gold stocks and bullion etfs

You do? I thought you didnít have $2k to your name
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 27
  • Posts: 3181
March 29th, 2021 at 4:55:56 AM permalink
Nasdaq futures are only marginally red at the moment. AMZN is actually green, and the others I own follow and trade are only marginally red at the moment anyway. Not enough to be worth buying into yet for a trade.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 27
  • Posts: 3181
March 29th, 2021 at 5:43:43 AM permalink
You can now buy a Tesla with Bitcoin ó but the IRS will want a cut

Why would this be automatic? Will TSLA report the transaction to the IRS? If I buy something with over 10K cash the merchant is supposed to make a report to the government, but unless regulations are imposed why would anyone know I bought something with my bitcoin?
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
Wellbush
Wellbush
Joined: Mar 23, 2021
  • Threads: 9
  • Posts: 697
March 29th, 2021 at 6:16:02 AM permalink
Well, this is money in my retirement account. Here in Australia itís called superannuation.

I canít touch it till Iím 59, but I can invest it
Note: WOV considers all betting systems worthless. All persons reading my posts gamble at their own risk, as I do. I don't ordinarily dispute math. I may dispute math I don't understand, or if I think it's faulty. I am not a conspiracy theorist. I don't ordinarily intend to insult, unless of course, you deserve return fire!
OnceDear
Administrator
OnceDear 
Joined: Jun 1, 2014
  • Threads: 47
  • Posts: 5573
March 29th, 2021 at 6:18:29 AM permalink
Quote: MDawg

You can now buy a Tesla with Bitcoin ó but the IRS will want a cut

Why would this be automatic? Will TSLA report the transaction to the IRS? If I buy something with over 10K cash the merchant is supposed to make a report to the government, but unless regulations are imposed why would anyone know I bought something with my bitcoin?

What a rubbish article.
Yes, spending BTC is a PITA because it constitutes a capital asset disposal with potential tax consequences. Doesn't mean you'll get a tax liability. It's particularly irritating because of the accounting requirements.

The more significant issue is the whole 'Know Your Customer' and 'Anti-Money Laundering' aspect, which I know is a big issue in the UK and I expect it might be in the US. I guess we need an attorney to explain that to us. Pity we don't know any*

If I chose to buy a property or a car, or even engage a UK lawyer, or even open a casino account, I'm obliged to explain any significant source of funds to be used. Can't just buy a new car with a briefcase of cash, let alone some BTC.

*Well the forum is anonymous, so how could we claim to?
Beware. The earth is NOT flat. Hit and run is not a winning strategy: Pressing into trends IS not a winning strategy: Progressives are not a winning strategy: Don't Buy It! .Don't even take it for free.
OnceDear
Administrator
OnceDear 
Joined: Jun 1, 2014
  • Threads: 47
  • Posts: 5573
March 29th, 2021 at 6:20:27 AM permalink
Quote: Wellbush

Well, this is money in my retirement account. Here in Australia itís called superannuation.

I canít touch it till Iím 59, but I can invest it

You can hold actual Bitcoin in a retirement account in Australia?!? Impressive.
Beware. The earth is NOT flat. Hit and run is not a winning strategy: Pressing into trends IS not a winning strategy: Progressives are not a winning strategy: Don't Buy It! .Don't even take it for free.
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 27
  • Posts: 3181
March 29th, 2021 at 6:32:00 AM permalink
Of course there is a requirement to pay taxes on any asset disposal, etc. There is also a requirement to pay taxes on table games winnings.

But there is no reporting of table games wins to the government. So my question stands, if I buy a TSLA with my bitcoin will this be reported to the government by TSLA? As of right now, the answer would be no, so the article as I read it refers to the legal obligation of any taxpaper versus some kind of new regulation reporting the transaction.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 27
  • Posts: 3181
March 29th, 2021 at 6:48:21 AM permalink
Sold the NFLX swing trade from last week at a profit finally.



Looking at a TSLA trade now.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 27
  • Posts: 3181
March 29th, 2021 at 6:56:48 AM permalink
Quick TSLA trade before it collapsed.


Looking for reentry at 595 if it gets that low.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/

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