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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 15:32:57 UTC
We have big problems guys. oil for the first time in history went to minus values. One of the reasons for this situation is the lack of demand for current consumption volumes. what do you think will happen to the economies? what will happen to oil, given that the situation will not change? And from here the main question is whether Bitcoin will be in demand, if only as a means of preservation if oil does not recover over a long period. All possible patterns are welcome.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 14:53:35 UTC
Bitcoin’s main problem in its associations with the black market and rejection by the majority
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 14:21:14 UTC
The main problem of Bitcoin, if we return to the topic, is that the user base of Bitcoin cannot grow significantly. It either does not grow anymore or grows at a very slow pace. This is a dead-end. At the same time, in the Bitcoin community, everyone pretends that everything is fine, that there is no problem. They are talking nonsense about the fact that LN will save us.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 14:04:51 UTC
Quote from: TimeWarped on June 13, 2020, 02:01:51 PM
Quote from: moonsock891 on June 13, 2020, 01:55:32 PM
Quote from: TimeWarped on June 13, 2020, 01:52:10 PM
The main problem of Bitcoin today is the lack of regulations and laws, however paradoxical it may sound. You need to understand in what legal field to work with cryptocurrency.
Are regulations and laws possible at all when it comes to cryptocurrencies? Indeed, for every law, there must be its observance and control, and in bitcoin, this control is almost impossible. Of course, you can assign an address to any citizen, but this will not prevent a citizen from opening another hundred addresses and wallets. Therefore, with all the desire for regulation, it simply may not exist. The only thing is for those who themselves will go to submit documents for ownership of the bitcoin address;)
the fact that legislation and regulations do not put pressure on Bitcoin is only a plus. If bitcoin and all crypto were regulated, then I would never be interested in cryptocurrency.
Bitcoin and other cryptocurrencies are unrealistic to take control of! Look at countries where digital assets are banned. what good came of it?
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 13:55:32 UTC
Quote from: TimeWarped on June 13, 2020, 01:52:10 PM
The main problem of Bitcoin today is the lack of regulations and laws, however paradoxical it may sound. You need to understand in what legal field to work with cryptocurrency.
Are regulations and laws possible at all when it comes to cryptocurrencies? Indeed, for every law, there must be its observance and control, and in bitcoin, this control is almost impossible. Of course, you can assign an address to any citizen, but this will not prevent a citizen from opening another hundred addresses and wallets. Therefore, with all the desire for regulation, it simply may not exist. The only thing is for those who themselves will go to submit documents for ownership of the bitcoin address;)
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 13:39:29 UTC
Libra, on the contrary to most of your opinions, may help the adoption and growth of the Bitcoin exchange rate, since its appearance pushed governments to regulate the cryptocurrency market, which will attract institutional investors to it.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 13:12:07 UTC
Quote from: minereu.com. on June 13, 2020, 01:09:54 PM
why would all of the sudden institutional investors increase their interest in crypto?
Facebook's initiative to develop its cryptocurrency is one of the reasons why institutional investors enter the digital money market. The possible launch of Libra pushed governments to regulate the blockchain industry, which makes investing in crypto assets more secure.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 12:47:23 UTC
Quote from: PocketAces on June 13, 2020, 12:44:46 PM
In 2020, institutional investors will go beyond testing and create the main demand for cryptocurrencies. in addition to institutional investors, millennials are expected to appear on the cryptocurrency market. the younger generation is increasingly interested in digital money with great interest and approval.
why millennials give more preference to cryptocurrencies than gold and other assets?

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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 12:41:05 UTC
Quote from: OneMillion on June 13, 2020, 12:38:19 PM
Quote from: moonsock891 on June 13, 2020, 12:35:32 PM
the strength of the first cryptocurrency is determined by the impossibility of its control
the government cannot control Bitcoin, and this is good because people do not trust the authorities and  banks, whose actions really resemble the Ponzi scheme
financial pyramids can also use cryptocurrencies. However, this is not as critical as the government or the banking system, in which people have lost faith.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 12:35:32 UTC
the strength of the first cryptocurrency is determined by the impossibility of its control
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 13/06/2020, 12:29:06 UTC
its weird that the coin is not in demand, despite a number of advantages. the percentage of consumers choosing it as a payment method is infinitesimal ... If people do not see the value in a coin, this is a problem. The world is filled with great products and services that have failed due to a lack of consumers….
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 12:13:32 UTC
Quote from: PocketAces on June 12, 2020, 12:10:04 PM
Quote from: TimeWarped on June 12, 2020, 12:07:28 PM
Quote from: PocketAces on June 12, 2020, 12:04:48 PM
there is a risk that the collapse in the digital asset market may recur. This is likely to happen if the S&P 500 index does not overcome the indicated resistance and returns to a fall, as experts predict.
If you do not take into account the stock market, what else affects bitcoin price?
bitcoin could go down to $ 6,200 without the influence of the stock market if the exchange rate fails to gain a foothold above the resistance level of $ 6900. Then the price will begin to fall.
it is necessary that it rises above the upper of the Bollinger Bands
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 12:01:36 UTC
This causes the USD to strengthen, respectively, the cryptocurrency is cheaper relative to it.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 11:32:13 UTC
Quote from: PocketAces on June 12, 2020, 11:29:20 AM
Quote from: TimeWarped on June 12, 2020, 11:23:10 AM
Anybody knows why Bitcoin has risen in price to $ 9468???
over the past three days Binance and Coinbase have shown record volumes of deals. This suggests that the current rise in the price of bitcoin was caused by real demand from retail investors, and not as a result of manipulation.
some say its all because of Jerome Powell’s speech. Can you believe how one man’s words can impact a billion dollar industry?
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 11:02:07 UTC
Quote from: OneMillion on June 12, 2020, 10:59:29 AM
Quote from: moonsock891 on June 12, 2020, 10:55:27 AM
Quote from: OneMillion on June 12, 2020, 10:52:17 AM
The cryptocurrency tax reporting tool ZenLedger is supported by a team of CPAs, tax attorneys and software developers. really impressive!
what does this CPA feature include? they provide the service as CPAs provide?
you can invite your CPA to your account, download all you transactions and have the CPA help you with them.
so ZenLedger has CPAs on board. for instance if i don’t have one they can provide me one?
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 10:55:27 UTC
Quote from: OneMillion on June 12, 2020, 10:52:17 AM
The cryptocurrency tax reporting tool ZenLedger is supported by a team of CPAs, tax attorneys and software developers. really impressive!
what does this CPA feature include? they provide the service as CPAs provide?
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 10:37:12 UTC
Quote from: OneMillion on June 12, 2020, 10:33:46 AM
I recently joined ZenLedger and I must say that I like it big time. The process of creating an account is very fast, which literally takes a few seconds. there are many exchanges supported (Binance, Bittrex, Coinbase,, Gemini, Kraken and Poloniex). Support 24/7, reasonable prices and the best tax calculator  - TurboTax. Its like all in one!
yes, the platform is not so difficult to figure out. The design is simple and makes it easy even for beginners to understand what to click on with an intuitive hint.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 10:24:06 UTC
Quote from: TimeWarped on June 12, 2020, 10:21:27 AM
Quote from: moonsock891 on June 12, 2020, 10:18:33 AM
Quote from: PocketAces on June 12, 2020, 10:15:14 AM
I bought crypto for 1k, sold for $900, turned out to be in loss. still need to pay tax?
according to the law, it is mandatory in any case, you sold the property (assets) and received money.
Another thing is how much to pay. you can use some method to offset losses. TLH for instance.
be sure to gather all trades. Exchanges and investment companies are pushed to transmit information to the IRS.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 10:18:33 UTC
Quote from: PocketAces on June 12, 2020, 10:15:14 AM
I bought crypto for 1k, sold for $900, turned out to be in loss. still need to pay tax?
according to the law, it is mandatory in any case, you sold the property (assets) and received money.
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Re: Do I really have to pay taxes on crypto investments?
by
moonsock891
on 12/06/2020, 09:56:09 UTC
Friends, the question was about something else initially...