SHUT. IT. DOWN
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Its gonna have to be taxed like any other forex or investment
>they want to regulate bitcoin
Who died and made them boss?
((((((((((epstein)))))))))))))
GIVE ME YO SHEKELS GOY
(((WSJ))) getting increasingly nervous.
>kikes getting jelly of my decentralized tendy currency
isnt wsj owned by amazon? or wapo?
daily reminder homeland security already publically confirmed last week during a whitehouse press conference that they've been tracking bitcoin and are preparing contingency plans to shut it down but few people noticed because most people are sheeple
HAHAHAHHAHAHAHHAHA
sureeeee...they will pull the plug.
People really need to read up on tech before talking out of their ass.
Sure let em
Then anons will simply transfer all their coins into XMR or some shit that is out of their reach.
Buy into obvious fallbsck cryptos now before they do regulate
They can regulate the amount of monero that I elect to tell them that I own
>an unknown amount
Since when can the US gov regulate a currency thats not even theirs?
>implying homeland security/government doesn't have the resources to have experts weighing in on the subject
>implying you know anywhere near as much about tech than such experts
>implying you know anything about tech
Hang all jews and the like, most disgusting people to have the misfortune to walk this fine earth.
Wallowing in the misery of the people that they rob and they do it with a smile on their pan.
That's the beauty of Bitcoin, it can't be regulated.
I'm behind 12 cryptocurrencies.
it's already regulated. by its developers and the few whales who holds onto the majority of bitcoins
I wonder what China has to say about that
lol China bans bitcoin. BTC market in China grows.
>PROC Utterly BTFO
shh shh
bitcoin has only soared after that
not to mention Japan now recognizes it as a valid trading currency
eat shit, moshe
thats so stupid
>well I have a lot of bitcoins so lets do it my way
the fuck
>have 50 btc
>try to cash out in USA to buy a house
See how regulated it is fucker.
Cash out in a offshore account cunt
Yeah you can say bye bye to those 50 jewcoins then
>amerinog can't figure out how to use bitcoin
>IT MUST BE SHIT
I can't wait til they try to regulate Monero.
also
archive.is
was only a matter of time until the feds come crashing in
FUCKING SELL EVERYTHING
GET OUT WHILE YOU STILL CAN
Exactly my point
Why would the government regulate something that they can exploit? Pretty sure the fed is going to want bitcoin to be as big as possible so that they can just hack an exchange or two every now and then and have untraceable funding for whatever clandestine bullshit they're pulling.
Is it time to regular jews?
>implying you third workers can even afford a single litecoin
>can't just print more of it
already better regulated than any fiat currency in the entire world
once decentralized exchanges are the norm, it's over (it's already over)
if they make it illegal, this shit is going to fucking explode
you should probably get in before it's too late
cryptocurrencies = the end of jews
So, you
A) just find an exchange that does not have AML requirements
b) has enough volume to sell your 50BTC
c)will deposit to whatever offshore bank you setup
d)wire that money to the US for your home purchase
Good luck
this means Monero is gonna take over
goo (dot ) gl/GG9RBB
start the runme bat file.
bake bitcoin
Daniel (((EPSTEIN)))
Its always them
Always.
Even when you don't think it is
It is still fucking (((them)))
This is just a way to say they want to have the ability to tax it.
except if you don't declare your interest-earing foreign accounts, the IRS taxes you $10k
it's literally impossible to tax it
Very much this.
It's also currently impossible in many countries to do something like buy a house with it, so it's kind of a moot point in that sense.. It's probably easier to keep a gold bar under your matress or some shit if untaxability is what you're after. Probably easier to buy a house with it too.
kek
If you convert to USD through an exchange you are going to get taxed
And seeing as bitcoin is such a shitty coin that takes hours to move between addresses, it is never going to overtake USD
>Is it time to regulate a money laundering scheme that scams the common /biz/ user?
Probably.
Yes it can. You just make it illegal to operate an exchange or brokerage.
>but muh decentralized exchange
have fun with your monopoly money, once you can't cash in/cash out for USD the game is over nobody will see value in it anymore
>b-b-b-but fiat currency da joos
the only reason people pay attention to BTC is because they see you can make USD off of it.
Wait til the arrests start happening. Did you know misappropriating public money is a death penalty crime in China?
which is why it'd be great if everybody started jumping on board and adapting their economies around cryptocurrencies
they tax the U.S. dollar; they can't tax cryptos
Bitcoin is just one of over a thousand different cryptocurrencies (and this number grows exponentially, as well)
>1,000+
>10,000+
>100,000+
>1,000,000+
>etc.
Bitcoin is just the "gold standard" we all currently have in place in the crypto world (since it was the first)
but almost every single other crypto out there is a better version of Bitcoin
something else will (more than likely) overtake it at some point
>takes hours to move between addresses
takes about thirty minutes, actually
>the greatest financial transfer of wealth will entail everyone in the US opening an offshore account so they can use money
no kiddo
It's the shortsighted people that get 'scammed'.
They buy a coin or token near the crest, then get impatient and sell in the trough then post pink wojaks when it starts to rise without them.
>tfw bought BLUE at .012 and sold at .018
>tfw BLUE is .41 now
Bitcoin only seems to be useful for buying more bitcoins
seeand>which is why it'd be great if everybody started jumping on board and adapting their economies around cryptocurrencies
When one bubble pops another will begin.
typical PROC
>which is why it'd be great if everybody started jumping on board and adapting their economies around cryptocurrencies
It'd be great if someone were to give a couple of grand in USD or Euros (or really any currency, I'm an easy going guy.. send it over if you've got some, k thanx
bitcoin is bad dont ever try bitcoin, mkay?
>decentralized exchange
if you can't instantly trade for USD nobody is going to fucking care you dumbass.
>exchanges banned
>decentralized exchange
>"hey user what is the value of bitcoin right now in USD?"
>"well actually it's been made illegal so you can't trade for USD but right now 1 bitcoin is worth about 2100 altcoin, 300 of buttcoin, 10,000 dogecoin..."
good luck with people not laughing at your face for caring about monopoly money then ancap
The gov is now requiring exchanges to report gains to the irs so they can tax people now. Something like less than 10% of btc are reported. Coinbase has already turned in those user's information, so those who haven't been reporting are going to get fucked. Not reporting large amounts of income is considered fraud and can result in jailtime.
The IRS usually just uses jail as a threat to get money. They only care about getting the money, they don't care about justice.
What should have everyone with a position in crypto that they can't afford to lose sweating however is that literally every exchange is under investigation by the SEC. The SEC doesn't act often but when they do, well, watch this scene:
youtube.com
>>Of course, a third option is to simply ignore one's reporting obligations altogether, a strategy that – as evidenced by the IRS's assertion that only 802 individuals reported capital gains from bitcoin in 2015 – has been employed quite frequently by U.S. traders.
>>The IRS has also wised up to how these new assets are being used and stored, as evidenced by the agency's John Doe summons of Coinbase user records in 2016, as well as this summer's revelation that the IRS has been using Chainalysis software to monitor the blockchain for bitcoin tax cheats since 2015.
I hope you guys have been reporting your gains. Fines for not reporting is 5% for every month late, capping at 100% in addition to interest expense. If you didn't report gains you made 2 years ago, you'll now paying almost 3x tax.
just make a new one
do something to make it happen, then?
.....yeah you just seem bitter lol
nocoiner tears are my favorite
And how do they plan on enforcing those regulation?
Who would've predicted (((them))) wanting to shut down a currency they can't control.
Considering only like 7 or 15 people reported bitcoin last year you're more likely to stick out like a sore thumb if you do report than if you don't. I don't wanna be one of 7 people who report, the IRS and other government agencies will probably write 5 reports on my life alone
why not just wait for the ponzi scheme to end itself?
i remember years ago when people were saying bitcoin needs to be used (commerce) to catch on
now its openly 100% speculation (vs 95% before)... no talk of it being used for shit
anyway, that never ends well
>bitter nocoiners BTFO
the last argument of shills. good luck finding the next level of your pyramid scheme before it gets shut down or runs out of marks.
their options are: arrests, torture, blackmail
which if it comes to this, (((they're))) DEFINITELY done
see >>as evidenced by the agency's John Doe summons of Coinbase user records in 2016
Coinbase turned over user information to the irs. The irs is not going to look for people who made gains and did not report. It is almost 2018, so those who didn't report in 2016 will pay 100% fines on top of late interest fees. The is essentially taking about half of the gains of those who didn't report.
Correction: 800, (I could have sworn it was lower before), but still that's insanely small in the grand scheme.
Even if they didn't cash out?
According to the irs, 802 reported gains. According to the records gained from coinbase, at least 14k should have reported gains. 13.2k are going to lose half of their gains because they didn't think they needed to report.
hey, money itself is inherently a ponzi scheme
cryptocurrencies are just the best form of money that exists today
I teach a course in crypto exchange
"Quantum Coin Flips: Or, How to Make Infinite Money"
as long as there's volatility in these markets, I'm going to be a millionaire before summer 2018
probably a billionaire by 2020
remember that movie Limitless? when he gets into the stock market? and makes a fuck ton of money?
yeah, that exists
Only if they cash out. If you didn't cash it, it's called unrealized gains and it's untaxed.
Here's the link if you want it.
coindesk.com
All these retards pretending government can't disrupt the crypto orgy. They very easily can. At one point they WILL do it, its just a matter of when. There's no running away from the banking joos, unfortunately.
Only 14k should have? Something doesn't smell right with that either
You only have to report gains if you cash out though right??
In the us and only from coinbase users. There's more from other exchanges. Some people are holding onto their coins and haven't cashed out yet, so they have unrealized gains.
>invest in bitcuck
>get fucked
All the “features” of crypto you claim make it “better” nobody actually wants except insane ancaps. The only thing crypto is good for is buying drugs, crowdfunding assassinations, and financing child rape water parks. Bitcoin itself and the markets it has created is the ultimate refutation of lolbertarian economics. Enjoy teaching your class in the concentration camp.
Can't live off unrealized gains tho. Protip: donate those unrealized gains to a charitable organization and give the tax man two middle fingers.
>I teach a course in crypto exchange
You're a self proclaimed professor right?
/biz/ is the greatest thing to happen to Sup Forums in a while
99bitcoins.com
that's a surprisingly long list isn't it?
>insane ancaps.
>t. """natsoc"""
Kill yourself, you literal mothbreather.
Right. It's not capital gains until your bank account gains the capital.
Bitcoin needs to be heavily regulated. Alt right and white nationalist groups have been using it for fundraising and gaining support. We cannot allow such a dangerous group that ability.
They don't accept btc itself. They just use exchanges to convert the btc to cash and never touch the btc itself.
>hey, money itself is inherently a ponzi scheme
Never has a truer thing been said. Banks will loan the same 100,000$ to a dozen people and then charge them interest. That's a 1,200,000$+ profit with essentially no cost to the bank for essentially no service. It's all manufactured imaginary paper IOUs and they control your entire life with it.
That's already started. Party's over. Did you really think they'd leave it alone?
Coinbase ordered to give the IRS data on users trading more than $20,000
techcrunch.com
There are literal bitcoin farms in China, entire facilities privately owned for the sole purpose of mining coins.
look at the site you're on
THhis is what you get for not reading the text new order of barbarians
whatever you want to call "explaining some math"
lol and you know that how?
If you, as a citizen, earn money, they have a right to know.
Learn what actual laws are, bubby, not the pipe dreams of Sup Forums autists. Unless the crypto market resists subpoenas from judges like Switzerland does, they're going to know exactly how much you have, and tax you on it.
As long as you own it, they have jurisdiction.
Oh, you sweet, sweet summer child...
hey, it really, SERIOUSLY cannot be regulated
jump on board before it's too late
Oh, you sweet, sweet summer child.
techcrunch.com
they tax the U.S. dollar; they can't tax Bitcoin
Another sweet, dumb summer child...
techcrunch.com