Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 31/08/2017, 00:09:25 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




I think that your perspective is a bit off, and maybe your accountant is causing you these kinds of fears.  Personally, I am of the belief that you can call it whatever the fuck you want and to cause your own tax reality from it, and in that regard you should be proactive and don't let tax consequences screw you up from doing what is in your own best financial interest.

So, in that regard, the limit in what you can call it would be whether what you are doing or categorizing is a reasonable interpretation... and there are a variety of ways to be reasonable when it comes to BCH  and possibly forgoing a 12% profit does not seem either prudent or reasonable to me... in that respect, I am thinking that get it while you can - because 12% is decent - as compared to possibly getting below 5% - on the other hand, if you really think that BCH prices could go up, then surely, you can gamble on that uncertainty, but a bird in hand seems better than two in the bush - especially with such a low level of BCH support, at the moment - only those ill-informed fuck ups who feel that they missed the bitcoin boat or other pie in the sky fantasizers are believing that BCH has much of a chance of going beyond .2BTC any time in the near future.