Quote from: Roman_Picisan on April 10, 2023, 04:14:45 PM

Quote from: JimboToronto on April 10, 2023, 03:32:36 PM

Quote from: Who is John Galt? on April 10, 2023, 12:09:25 PM

...I understand that there is also an automated bank security system that stops some payments (and I noted this right away, this is their control over my money)...

It's not your money if it's in a bank. It's the banks money until they pay you back.

Our money is in our savings and the money in the bank means it's their money (bank).
Your answer is very correct. lol

It seems you are missing something from your answer. They (bank) will not pay the money back without an order to return.
Isn't it like that?

Well, another characteristic of that money that is in the bank, is that there is something that is not quite yours also because even if you hold that money in your grubby little hands, it loses value because it is "purposefully" denigrated in order to rob little by little from every person that holds such money. For sure, the vast majority of normies have been trained into believing that it is normal and expected to have their money denigrated, so they hardly even believe that they deserve their money to retain its value... and surely it could take generations for bitcoin to reverse the embedded training.. and some of us have figured it out sooner than others, and realized that even if we might not go 100% into bitcoin, we should not be holding too many dollars beyond the amount that might be needed to cover our expenses.. including contemplating our how sure we are about our various cashflow sources, too.

When many of us grew up learning various fiat systems, and then we have built some trust in the institutions serving the interests of the people, and surely, even if they may be "required" to "serve the interests of the people," the system itself is lacking a sufficient amount of objectivity.. and objective standards in order to incentivize serving the interests of the people.. and so many folks in those positions to oversee fiat systems might even believe that they are doing the right thing when they uphold the ongoing denigration and exploitation of the people's purchasing power and to proclaim "that's the way it is supposed to be."....

Bitcoin may well not fix these matters over night, but many of us are recognizing and appreciating that value is flowing into bitcoin because it is sufficiently neutral and has the capacities to address the corruptions and the unsoundness of the money, even when some of the people do not actually realize it... and may be part of the reason why so many normies are slow to bitcoin and it is going to take a while for them to figure it out.. they get confused... how could it be? how could it be?

Well you better buy some, get involved and learn about bitcoin sooner rather than later, but hey if you want to wait, then that's on you... there is ONLY so much that we can do when they are looking at the price and saying " I thought that was dead?" "no, what is dead and dying is those systems in which your value is robbed from you little by little because they have 'design flaws.' "

Quote from: Biodom on April 10, 2023, 06:12:49 PM

Got email from Coinbase saying that "if you sent your bitcoin for them to sell, then they would produce tax documents for you where they would be indicating the "base/cost" as ZERO", with a lame excuse of not knowing what it cost you (instead of indicating the value of bitcoin when they GOT IT).

For 2022 it is still not covered by automatic reporting (like stocks), but if next year they will start...and that was in some of laws that already passed, and then many of us would have huge problems, potentially, as they will report your sale price and your imaginary "cost" at ZERO to the three letter dudes.

TL;DR prepare to get wrecked next year

I am having my doubts that Coinbase is any more lame than you for repeating that nonsense.

Of course, if they do not know your basis, they have to report it as $0... so you have to figure out whether or not you are going to count the basis as zero or if you have some other records that you believe will sufficiently suffice regarding what was your basis for those coins that you decided to sell (through Coinbase)... if you think that the basis should be the BTC price at the time that the coins came into Coinbase, then that surely sounds like a novel theory that would even be worse for Coinbase to be counting the basis of your coins like that.

Another possibility could be that they just put the basis as "unknown," and that would probably be the most accurate.