Quote from: 1bitcoinsnet on December 27, 2017, 02:02:56 AM

Quote from: Re3urst on December 27, 2017, 01:46:09 AM

Quote from: 1bitcoinsnet on December 27, 2017, 01:25:31 AM

Sad day for traders

Tax code 1031 the like for like exemption that shielded traders is no more

Trump the moron killed it

Time to exit the USA

http://bitcoinist.com/cryptocurrency-investors-lose-tax-break/

As always, not a single reply.

I don't think anyone wants to even know anything about Bitcoin taxes. Just sitting there like an ostrish with your head in the sand, pretending that no one told you Bitcoin is taxable is most people's strategy.

They still think it's 'anonymous'

haha

try to cash out in an exchange

you got to give more id than you can imagine

then they limit you to a lousy 50K a week

so if you made a big hit, it would take years to withdraw

yet the irs wants taxes on it as soon as the exchange sells it

and the main exchanges know who you really are

so

1. it's not anonymous when you exit
2. the exchanges are a trap for big exits, they won't let you take out huge wins

the more you look at all crypto the more you see big brother

sure when it's in a wallet you can't use it is anonymous

try to spend it, impossible so you sell it have big wallet in cash in exchange then you can't move much out

haha

so no one is really talking about what is the end game

all it did is trap you into the coin with no real hope of exiting mega millions even if you made them

now, they want to instantly collect on gains when you just move into a new coin

so forget about coinbase, they will soon be feeding the irs every account holders info

then bitcoin gains will pay off the debt

Exactly! That is the big elephant in the room that no one wants to address.

Bitcoin and crypto is highly illiquid, highly unusable, and highly taxed. That is why I am only spending 0.25% of my net worth investing in crypto. Its not a viable asset for the reasons you mentioned. Also, Bitcoin and crypto produces NO INCOME.

I will continue to invest in real estate which have made me financially free at an early age, and pays me every month. Also, it had the best tax benefits out of any investment known.