Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Searing
on 30/08/2017, 20:18:32 UTC
Nonsense. If the market moves strongly to Bitcoin Cash over Bitcoin Core, then the narrative that 'Bitcoin Cash is The Real Bitcoin' will have been proven true.

It's not a matter of Bitcoin(TM) brand, but who controls the toy. Would you invest in anything hijacked by the 3 stooges?

my problem with selling bitcoin cash and moving it to BTC proper is taxes. IF I ignore it the IRS may call it a stock split...
if I dork with it and move/sell or whatever they may say it is money from air (like mining) and want 47% income tax.
(yeah I'm in that bracket)

so I'm just leaving it alone and playing ignorant (along with my bytetball, bitcore, clams and any other air dropped stuff to my BTC addresses
I just know if I cash out ...that will count as a tax event ..even if I move it in like kind to btc....they will call it mining...or income

from air and tax it like mining....just saying..its the IRS...they really don't like money from air (mining) in the usa..I think they will tag
this as such if you move it....sell it...or whatever..the 2013 IRS guidelines were released 10 days before the tax deadline in 2013....so
I am cautious..(The IRS no like us much me thinks)

why I'm on the fence or my strategy at this time



If you haven't claimed your Byteball, unfortunately you've lost the opportunity, the major monthly airdrops are over and you needed to sign your Byteball address with your BTC private keys for a drop each full moon. There are a few more to come but its only 10% of what it was.
Clams & Bitcore is a very small amount (a few dollars per BTC)



yeah I got the byteball ..at least the last 2 rounds...which was great...I figure just leave it alone...but again....moving $$$ around from the air right now via explaining it
to the IRS....I'm better off just hoping they treat it like a stock split at this point in time...then of course with my luck jiuhan Wu of bitmain will get p/o'd and move his
hash from bitmain to say bitcoin cash as he has said...so now looking at 3 forks....while bitcoin cash is NOT a true fork imho..it in a 3 fork of bitcoin senario will dump price
and will complicate taxes...so frack it...unless others on here see a clearer path I will just leave it alone