Post
Topic
Board Beginners & Help
Re: Bitcoin as a savings account
by
JimCGSavings
on 24/05/2013, 23:02:44 UTC
Thanks so much Jim. My support is trivial at best. The aggression displayed by some bothers me for whatever reason. This aggression will not stand. Man.
As I think I mentioned before, I've been participating online since the BBS/Fidonet days. I even had the "fun" of moderating a very volatile "echo". One person's aggression or button is another's sincerely held belief, or casual statement meant without true malice, or mistaken assumption. I take it all as a learning curve. I learn something new about Bitcoin every day here, so it's worth it. Now all I have to do is shoot the guys who came up with...uh I mean, try to figure out what Ripple is and that will be cool. In my day, it was just a really bad, really cheap "wine". (grin)

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For the record:  Until my authorities dictate the nature of bitcoins as some intangible or tangible asset, I fail to see the need to report it. I will continue to report gains in and conversions to fiat as income/assets as required by said authorities.
I don't have any yet, so not a problem. If I do get some, I'll put em in a paper wallet after I create a linux partition on the old XP box my wife uses to play solitaire on again. That's always fun, but I haven't had a reason to play with linux for awhile. Other than the USB stick I boot into to update and run command line utility scans on the connected systems. I'd rather dual boot though for anything more than that. Linux on USB2 just runs too slow for anything other than letting scans run, in my experience. I won't exchange any for fiat currency until we are out of the temporary situation we are in now. If a reporting requirement happens, I don't think even reporting that I "own" something virtual with no actual value until it's exchanged for fiat currency, goods or services will cause a problem for us.

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I have a hard enough time explaining Bitcoin to MBA students and local merchants, let alone the kind lady at the desk or on the phone at the local government office. Until they understand and regulate it of their own volition; I fail to see the need to educate and inform them.
I'm trying to learn enough to explain it to my father the retired CPA. He just looks at me and asks the same question over and over again; "so, that bitcoinATM thingy, what bank supplies the money for that?" (grin)

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Keep fighting the good fight Jim. Those of us that care and understand will continue to do so. Those that do not will remain cold and hardened. All but gweedo; I can dismiss as trolling newbies. I'd expect 'hero' members to exercise virtuous silence if not offering words of support. It just makes for a better community environment. 
Aww, don't stop the newbies from trolling. It's hurts their feelings. "Encourage" them to participate "correctly". Oldbies don't troll. They fight the good fight. Smiley