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Showing 14 of 14 results by Tornadocrazy
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Topic
Board Politics & Society
Re: Do governments lose taxes with cryptocurrencies?
by
Tornadocrazy
on 20/08/2018, 01:44:51 UTC
I'm just going to try to pick apart each thing of what you've said.

Quote
The question and the fear are recurrent. If the government loses money from the collection of taxes, because people are saving in BTC or another Altcoin, will it stimulate the states to regulate the issue?

If you're saving money (or investing) by putting money into an altcoin and not selling it, the government isn't losing anything because you haven't sold yet. They're only going to be losing money if you sell and you don't declare the capital gain THIS IS TAX FRAUD, JUST SO YOU ALL KNOW So based on just putting money into bitcoin years ago and not selling, that's NOT the government losing money. The equivalent in stocks would be buying a stock and not selling it-- like many Americans do.

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Starting from that premise, when you take money from your bank account to turn it into Cryptocurrencies, that money, even if you do not have it, will be subject to taxes.

Not until you sell that Cryptocurrency if you hold it you're subject to nothing.

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In summary, whenever you use cryptocurrencies in conversion between Cripto and FIAt you will be paying taxes, directly or indirectly, for governments it is not a problem, it is for us, that unless we develop, more than technology and the trading market, we develop everything a consumer market without having to go to FIAT, we will be being punished twice.

Well yes, this portion is true.

I just want to stress that the entire crypto community thinks that they're being taxed more than any other investment and this just isn't true if you buy a crypto and sell it within a week you're going to be subject to the same short-term capital gains (which is a much higher rate than the long-term capital gains) which a person who did the same exact thing with a stock would be subject to.



Appreciate your comments on that.
I never thought about it that way...
Post
Topic
Board Beginners & Help
Re: trezor or ledger nano for a beginner ?...
by
Tornadocrazy
on 19/08/2018, 15:25:15 UTC
Actually both are good wallets but I personally use Ledger Nano S and it's even better because of their new update for their software the "Ledger Live".

You don't have to download each of their chrome app unlike before it is required for bitcoin, eth and altcoins.

I agree. Ledger Nano S seems to be the best option to me. Especially after their latest Ledger Live sw update. Works like a charm!

BUT:

Make sure you NEVER buy a Ledger Nano S or any other hardware wallet from eBay.
Only buy from the Ledger store or from Amazon.

This article might be of help:
https://www.buybitcoinworldwide.com/wallets/ledger-nano-s/

Ledger Nano S has a warning on their support page:
Buy from an official Ledger reseller

https://support.ledgerwallet.com/hc/en-us/articles/360002481534-Check-if-device-is-genuine
Post
Topic
Board Beginners & Help
Re: To HODL or not, this is the question
by
Tornadocrazy
on 19/08/2018, 14:54:04 UTC
I think that it was necessary to sell bitcoin for 15000-17000$, and now you need to buy! If you already have, then only HODL.

This is the only sensible decision to make under the current market. I can't agree more. HODL. Period.
Post
Topic
Board Politics & Society
Re: Is Trump just a puppet?
by
Tornadocrazy
on 18/08/2018, 17:24:17 UTC
Trump just overextends himself because he's never had to answer to anyone in his life. He doesn't understand the concept of major institutions holding his hand in place, and he most certainly doesn't believe in checks and balances. The man has been his own boss for his entire life for Christ's sake.

Illuminati? Or just filthy rich lobby groups that are deep in the pockets of these institutions? All it is is the dirty corporations swinging their dollars around to get shit done for them. It's not a democracy, it's a plutocracy.

Couldn't agree more. Plutocracy is definitely the most precise word here.
Post
Topic
Board Bitcoin Discussion
Re: They want you to panic :->
by
Tornadocrazy
on 18/08/2018, 17:15:26 UTC
I don't really care what they say because I can see the number of blockchain projects is increasing every second, so I firmly believe Bitcoin is far from being dead Wink
Post
Topic
Board Bitcoin Discussion
Re: South Korea officially recognizes cryptocurrency exchanges as financial... 🔥🔥
by
Tornadocrazy
on 18/08/2018, 17:06:03 UTC
I would definitely take it as a good news because this might lead to other countries starting to regulate cryptocurrencies too. Once a country regulates cryptocurrency it means that it has legalized the use of crypto in that country. This could be the gateway for crypto to go mainstream and worldwise use. Even if this does not lead to such a mainstream level it will at least encourage many people to start using cryptocurrencies.

Absolutely! I believe it will breathe more life in the crypto market and help it become stronger and more protected (I suppose).
Post
Topic
Board Bitcoin Discussion
Re: Can you stop calling Bitcoin an investment?
by
Tornadocrazy
on 18/08/2018, 16:55:39 UTC
Whether you refer to it as "investing" or "gambling" is a reflection of your personal attitude rather than reality, but naming a phenomenon doesn't change the phenomenon itself. So, I guess everyone's totally free to call it whatever they feel like. That's it.
Post
Topic
Board Bitcoin Discussion
Re: Is it my impression or media is biased towards bad news ?
by
Tornadocrazy
on 06/08/2018, 05:54:52 UTC
Do you think the media is trying to destroy Bitcoin and cryptocurrency ? I think they show 95% of the times only bad news. Why is this happening ?

I believe they got this rule written in red capital letters in the newsroom "BAD NEWS SELL."
The media are all about bad news. People are interested in bad news because bad news are useful for survival, while good news are meaningless... Knowing that, I never take news too serious.
Post
Topic
Board Off-topic
Re: The Economist: Polygamy Causing Civil Wars
by
Tornadocrazy
on 05/08/2018, 21:58:35 UTC
Big love and big war: exploring the link between polygamy and violence

A curious thesis takes The Economist’s foreign editor to war zones and refugee camps

https://medium.economist.com/big-love-and-big-war-exploring-the-link-between-polygamy-and-violence-67306fb3c41b


Of the 20 most unstable countries in the world, all 20 are very or somewhat polygamous. A study by Satoshi Kanazawa of the London School of Economics found a strong link between polygamy and civil war.

What an insightful article! Thanks for sharing! Good food for thought Wink
Post
Topic
Board Politics & Society
Re: Can blockchain change the way we vote?
by
Tornadocrazy
on 05/08/2018, 21:43:09 UTC
Blockchain implemented into the voting technology could eliminate voter fraud and boost turnout. It will make it more convenient for citizens to vote while abroad, irrespective of the distance and time. It is also a beneficial tool for the election commission to maintain transparency in the electoral process, minimize the cost of conducting elections, streamline the process of counting votes and ensure that all votes are counted.

I agree. Just wanted to add that no other third party can interfere...
Post
Topic
Board Off-topic
Re: Are we evolving backwards?
by
Tornadocrazy
on 05/08/2018, 21:08:49 UTC
Yeah, the information influx changes our mental abilities causing kind of pseudo stupidity. So, in a way you're right. It's like evolving backwards. It's just that nobody can understand what we could do about it... Not yet...
Post
Topic
Board Politics & Society
Re: If we lived in a libertarian society
by
Tornadocrazy
on 05/08/2018, 20:52:15 UTC
Libertarian sounds like utopian to me and I wish it were real, but I'm a realist and just cannot picture it even to myself in my imagination.

Actually, here is all you need to do. Show everybody you can that they can completely beat government via the jury. The jury has the right and duty to nullify any and every law that they don't like. Then, take the law before the jury, and show how it is depriving you of your property unfairly. But most important, show how the law is depriving jury members of their property, as well.

Cool

Yeah, that would be fabulous!  Cool
Post
Topic
Board Politics & Society
Re: Is taxation theft?
by
Tornadocrazy
on 05/08/2018, 20:44:21 UTC
Well, if we look up the word "theft," we'll notice it means 'dishonestly taking something that belongs to someone else and keeping it (or stealing, i.e. taking something without the permission or knowledge of the owner and keeping it).'
The key words here are without the permission or knowledge , which contradicts the process of taxation. I mean, you know that they are taking the money from you, but on the other hand, they never ask you for permission or whether or not you are willing to do so Wink
So, it's a theft only by half and only providing you're not willing to do so. If you are, then it isn't a theft at all, IMHO.
Post
Topic
Board Bitcoin Discussion
Re: Most Crypto investors are Cowards
by
Tornadocrazy
on 24/07/2018, 09:05:50 UTC
On the contrary, I believe investors are heroes in a way Wink
They just have to behave a little different from the movie heroes.