I have started buying small chunks of PPBTC, and having them holding it in custody.
So far, it's been way profitable for me (unrealized), but I'm fully aware of the tax implications involved with selling PPBTC (Already had to sell off a sliver of PPBTC, and was forced to enter my SSN to continue. I see what you did there PayPal. Har har IRS. That $25 was sold at a loss !!)
Anyway, what are your thoughts on buying PPBTC ? I believe it's fully degenerate, mostly due to the fact you cannot transfer PPBTC out to your own custody.
The only way I'm rationalizing it right now, is whatever PPBTC I'm scooping, aren't going to be sold for at least 365 days after they are purchased, so I'm at least being taxed at long-term capital gains.
Thoughts ? Let's have a PPBTC catharsis thread.
It's fine in moderation. I just wouldn't let it comprise more than a few % of my total stash. As long as we all know it's just a shitty bank account, with all that entails, it's fine. I would definitely report your taxes to the penny. I'm more paranoid about the CRA and IRS raiding Paypal's records than I am about Paxos getting hacked or something.
my feeling are this all members of bitcointalk.org that are legally allowed to buy btc on paypal
should.
obviously it does not need to be 1% of your btc it can be lower.
to not buy it when you legally can simply means you do not want btc to be mainstream.
Those fees though. I know it's zero fees for a couple more weeks but, just saying.