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Forum » MISC Crypto Crew (MCC) Vol 6: Christmas Edition; Battle of the Chads
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Thread: MISC Crypto Crew (MCC) Vol 6: Christmas Edition; Battle of the Chads

post 1538888621 12-28-2017, 10:43 PM
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#7051
  1. StarFart
  2. Look at my Sig
  1. StarFart
  2. Look at my Sig
  3. Join Date: May 2010
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Originally Posted By yznerf⏩
I’ll make it easy for you.

Don’t invest in XRP, IOTA, Walton, NEO, Tron, Zcoin, 0x, Deepbrain, or BAT.

Thank me in a year.
What u smokin brah
NEO, 0x, BAT are all solid
lawyer brah.
post 1538888771 12-28-2017, 10:45 PM
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#7052
  1. RespectYourself
  2. Registered User
  1. RespectYourself
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Originally Posted By ActuallyLifts⏩
Any Australians aware of the tax implications with crypto? That have actually done an actual tax return / spoke with an accountant? I guess my main question is, is trading from crypto to crypto a CGT event, or do I only need to worry about fiat in vs. fiat out and the profit in fiat is taxable as a capital gain?

Because how can crypto to crypto be a CGT event, say I trade BTC to ETH and the price of my BTC had gone up since my original purchase. The capital gain has occurred in crypto currency, not fiat, so how am I suppose to pay it to the taxman if I don't have the fiat, instead I have ETH now??

Thanks
Did my taxes this year and the Accountant said that you add your crypto AUD profit/loss to your annual income and apply the applicable tax bracket.
Time flies like an arrow; Fruit flies like a banana.
post 1538888881 12-28-2017, 10:47 PM
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#7053
  1. WrestlingFan123
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  1. WrestlingFan123
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Originally Posted By StarFart⏩
What u smokin brah
NEO, 0x, BAT are all solid
I like WTC
post 1538889001 12-28-2017, 10:49 PM
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#7054
  1. barbonly
  2. Registered User
  1. barbonly
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Originally Posted By yznerf⏩
I’ll make it easy for you.

Don’t invest in XRP, IOTA, Walton, NEO, Tron, Zcoin, 0x, Deepbrain, or BAT.

Thank me in a year.
neo, walton, xrp but why? these are the most solid of the lot...

neo dapps platform is good competition for eth.

walton is only competing against wabi and vechain. vechain lied about vitalik being an advisor. walton already has a working product, boxmining went there to investigate. it just has horrid marketing.

xrp could be added to coinbase and centralization is what wallstreet and banks loves. don't see this going away any time soon.
post 1538889131 12-28-2017, 10:54 PM
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#7055
  1. ActuallyLifts
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  1. ActuallyLifts
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Originally Posted By RespectYourself⏩
Did my taxes this year and the Accountant said that you add your crypto AUD profit/loss to your annual income and apply the applicable tax bracket.
Originally Posted By manjay⏩
From previous ausbrahs that saw an accountant it appears to be a CGT event when converting from crypto to fiat. Aus also allows small expense or services paid up to 10k worth in crypto tax free.
Which one is it boys, added to regular employment income and taxed at normal marginal rate or a CGT event? If it's CGT then I can get a 50% off my marginal tax rate for holding more than 12 months right?
post 1538889611 12-28-2017, 11:05 PM
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#7056
  1. Igor3K
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  1. Igor3K
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Originally Posted By ActuallyLifts⏩
Which one is it boys, added to regular employment income and taxed at normal marginal rate or a CGT event? If it's CGT then I can get a 50% off my marginal tax rate for holding more than 12 months right?
AFAIK from my studies (not qualified advice etc...)

It will only be just a simple AUD profit/loss if you are considered to be running a crypto trading business which will be highly unlikely for the most of us I presume.

As such, I think manjay's advice regarding the selling of crypto into fiat currency being considered a CGT event is more applicable to just an average investor. Should in reality be the exact same thing as buying/disposing of shares IMO
post 1538889711 12-28-2017, 11:08 PM
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#7057
  1. Contribution05
  2. Registered User
  1. Contribution05
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Originally Posted By xpin2winx⏩
There's nothing special about it. Only on the misc. Where a technology that is actually being utilized by banks worldwide is not special.
Banks use it. What a sales pitch. Which banks? Any of the major US banks? If the answer is "no" then my point still stands. Nothing special and if it's not listed on Coinbase, those will become bags.

Until we find out which coins Coinbase will list, it's a safe bet though that it will keep gaining until proven false.
post 1538889891 12-28-2017, 11:11 PM
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#7058
  1. ActuallyLifts
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  1. ActuallyLifts
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Originally Posted By Igor3K⏩
AFAIK from my studies (not qualified advice etc...)

It will only be just a simple AUD profit/loss if you are considered to be running a crypto trading business which will be highly unlikely for the most of us I presume.

As such, I think manjay's advice regarding the selling of crypto into fiat currency being considered a CGT event is more applicable to just an average investor. Should in reality be the exact same thing as buying/disposing of shares IMO
What about if you trade between crypto's though, i.e. buy BTC for $5k, trade to ETH when BTC is at $6k. I made $1k. However I didn't get the profit in fiat, I got it in ETH. Is that a reportable event? How would I even pay it?
post 1538889961 12-28-2017, 11:11 PM
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#7059
  1. NinjaNoir
  2. BJJcrewA$$
  1. NinjaNoir
  2. BJJcrewA$$
  3. Join Date: Sep 2014
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I fukked up. I sent my UTT tokens to exodus.............................exodus does not support the token. I thought becaus it was ERC20 I was good. Live and learn.
Arsenal F.C.
post 1538890081 12-28-2017, 11:15 PM
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#7060
  1. baelish
  2. Registered User
  1. baelish
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Originally Posted By drLihp⏩
any thought on this?
https://www.flixxo.com/
Is this aiming to replace Youtube? Could be quite relevant seeing as a lot of Youtubers are complaining about censorship through demonetization.

EDIT: Guys, Kucoin and KCS is absolutely killing it. Kucoin's trade volume fukkin doubled in just a couple days, and XRB isn't even on there yet. Some brahs are complaining that it's laggy, but they've just experienced explosive growth in volume.https://www.kucoin.com/#/?r=1RHtcis my referral link, or 1RHtc is my referral code if you need one still. They got some weird pyramid scheme for referrals where we get a cut of their fees.
post 1538890281 12-28-2017, 11:20 PM
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#7061
  1. refsum
  2. Registered User
  1. refsum
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Originally Posted By Contribution05⏩
Banks use it. What a sales pitch. Which banks? Any of the major US banks? If the answer is "no" then my point still stands. Nothing special and if it's not listed on Coinbase, those will become bags.

Until we find out which coins Coinbase will list, it's a safe bet though that it will keep gaining until proven false.
What is the misc list of possible coinbase coins? I remember reading something about coinbase mission statement in supporting Ethereum based coins. I was thinking between ripple, zcash, Ethereum classic, Dash
post 1538890381 12-28-2017, 11:23 PM
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#7062
  1. refsum
  2. Registered User
  1. refsum
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Originally Posted By baelish⏩
Is this aiming to replace Youtube? Could be quite relevant seeing as a lot of Youtubers are complaining about censorship through demonetization.

EDIT: Guys, Kucoin and KCS is absolutely killing it. Kucoin's trade volume fukkin doubled in just a couple days, and XRB isn't even on there yet. Some brahs are complaining that it's laggy, but they've just experienced explosive growth in volume.https://www.kucoin.com/#/?r=1RHtcis my referral link, or 1RHtc is my referral code if you need one still. They got some weird pyramid scheme for referrals where we get a cut of their fees.
I put $500 in KCS and wish I put in more. I love the interface they have and that they use trading view. Low selection of quality coins at this point though
post 1538890611 12-28-2017, 11:30 PM
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#7063
  1. juvefan
  2. Registered User
  1. juvefan
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Tried to start a spreadsheet for tax purposes in the US. Almost impossible to do considering I have accounts on 5 exchanges and coin to coin is considered a taxable event. Will legit be here for fukin days trying to figure out the usd price of btc on July 3rd at 4:04 a.m. and 10 milliseconds and the btc price I bought omg on July 3rd at 5:34 a.m. and 8 milliseconds
$0 or $1 million crypto crew
Ex-OMG crew
post 1538890791 12-28-2017, 11:36 PM
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#7064
  1. NinjaNoir
  2. BJJcrewA$$
  1. NinjaNoir
  2. BJJcrewA$$
  3. Join Date: Sep 2014
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Originally Posted By NinjaNoir⏩
I fukked up. I sent my UTT tokens to exodus.............................exodus does not support the token. I thought becaus it was ERC20 I was good. Live and learn.
Of **** the tokens are on etherscan. What do?
Arsenal F.C.
post 1538890801 12-28-2017, 11:36 PM
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#7065
  1. ironicinori
  2. bannable
  1. ironicinori
  2. bannable
  3. Join Date: Sep 2013
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Originally Posted By juvefan⏩
Tried to start a spreadsheet for tax purposes in the US. Almost impossible to do considering I have accounts on 5 exchanges and coin to coin is considered a taxable event. Will legit be here for fukin days trying to figure out the usd price of btc on July 3rd at 4:04 a.m. and 10 milliseconds and the btc price I bought omg on July 3rd at 5:34 a.m. and 8 milliseconds
Not sherrif srs, but I'm pretty sure you don't claim every transaction. I don't claim the dozens of stock transactions in my mutual fund every day, I claim the overall gains at the end of the year.
Broke both legs and ankles crew.
Recover gains or die trying crew.
post 1538890871 12-28-2017, 11:37 PM
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#7066
  1. juvefan
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  1. juvefan
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Originally Posted By ironicinori⏩
Not sherrif srs, but I'm pretty sure you don't claim every transaction. I don't claim the dozens of stock transactions in my mutual fund every day, I claim the overall gains at the end of the year.
Crypto != stocks
$0 or $1 million crypto crew
Ex-OMG crew
post 1538891031 12-28-2017, 11:40 PM
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#7067
  1. Trapstar4.4
  2. I am Bomani Jr.
  1. Trapstar4.4
  2. I am Bomani Jr.
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Originally Posted By juvefan⏩
Tried to start a spreadsheet for tax purposes in the US. Almost impossible to do considering I have accounts on 5 exchanges and coin to coin is considered a taxable event. Will legit be here for fukin days trying to figure out the usd price of btc on July 3rd at 4:04 a.m. and 10 milliseconds and the btc price I bought omg on July 3rd at 5:34 a.m. and 8 milliseconds
From the moment that I read the crypto tax regulation I thought that they will need to revisit it. Best bet is for the govt to hire some consultants who know crypto.

Whoever wrote it clearly pulled it out of their ass and shouldtake this more seriously
***Gender Non-Committed***
(She/Him/They/His/Theirs/Her/Them)


Falcons - Hawks - Braves
I make typos.
post 1538891181 12-28-2017, 11:44 PM
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#7068
  1. Vbrah
  2. Not Banned
  1. Vbrah
  2. Not Banned
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Originally Posted By juvefan⏩
Tried to start a spreadsheet for tax purposes in the US. Almost impossible to do considering I have accounts on 5 exchanges and coin to coin is considered a taxable event. Will legit be here for fukin days trying to figure out the usd price of btc on July 3rd at 4:04 a.m. and 10 milliseconds and the btc price I bought omg on July 3rd at 5:34 a.m. and 8 milliseconds
Lol no brah just use end of day price. Yes the market is open 24/7 but when you search up historical prices you will only get 1 price for the day.
Make Misc Great Again

Not in any crew crew
post 1538891251 12-28-2017, 11:46 PM
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#7069
  1. Vbrah
  2. Not Banned
  1. Vbrah
  2. Not Banned
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ZCL brahs we're gonna make it
Make Misc Great Again

Not in any crew crew
post 1538891331 12-28-2017, 11:48 PM
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#7070
  1. nathangreen
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  1. nathangreen
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Originally Posted By juvefan⏩
Tried to start a spreadsheet for tax purposes in the US. Almost impossible to do considering I have accounts on 5 exchanges and coin to coin is considered a taxable event. Will legit be here for fukin days trying to figure out the usd price of btc on July 3rd at 4:04 a.m. and 10 milliseconds and the btc price I bought omg on July 3rd at 5:34 a.m. and 8 milliseconds
Didn't each transaction being taxable only start with the new tax bill that just passed? Up until now I thought it was only capital gains tax. If so, you shouldn't need it for 2017 taxes..
post 1538891361 12-28-2017, 11:48 PM
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#7071
  1. drLihp
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  1. drLihp
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launching dec 31 you can now do direct fiat to crypto exchanges
for
Bitcoin Ethereum Litecoin Bitcoin Cash Monero Ripple DASH OmiseGO IOTA Stratis Bitcoin Gold Ark district0x FunFair RaiBlocks


based in ireland
post 1538891421 12-28-2017, 11:48 PM
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#7072
  1. NinjaNoir
  2. BJJcrewA$$
  1. NinjaNoir
  2. BJJcrewA$$
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Originally Posted By refsum⏩
KCS kucoin exchange token up 75% today! This and BNB are proving to outperform many alts
I bought BNB at around 1.25 just for the lower fees. Crazy
Arsenal F.C.
post 1538891501 12-28-2017, 11:51 PM
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#7073
  1. KillahJon
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  1. KillahJon
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Originally Posted By Vbrah⏩
ZCL brahs we're gonna make it
fuarkkk, when are you selling? So glad i got in. Can't rep you until I spread more
post 1538891601 12-28-2017, 11:53 PM
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#7074
  1. ironicinori
  2. bannable
  1. ironicinori
  2. bannable
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Originally Posted By KillahJon⏩
fuarkkk, when are you selling? So glad i got in. Can't rep you until I spread more
Holee chit my palms are getting sweaty, how high is this gonna go?

I'm pissed b/c I bought in at $25, Fudded out at $30 (made some bad moves yesterday)... then bought in again at $50 and still flying.
Broke both legs and ankles crew.
Recover gains or die trying crew.
post 1538891701 12-28-2017, 11:55 PM
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#7075
  1. BostonRockets
  2. Flâneur
  1. BostonRockets
  2. Flâneur
  3. Join Date: Aug 2012
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Originally Posted By Vbrah⏩
ZCL brahs we're gonna make it
Fork so far away. How long you plan on holding?

Sh!t I might pussy out @ 2x but this could go FAR.
Death is impossible for us to fathom: it is so immense, so frightening, that we will do almost anything to avoid thinking about it. Society is organized to make death invisible, to keep it several steps removed. That distance may seem necessary for our comfort, but it comes with a terrible price: the illusion of limitless time, and a consequent lack of seriousness about daily life. We are running away from the one reality that faces us all.
post 1538891881 12-28-2017, 11:58 PM
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#7076
  1. Trapstar4.4
  2. I am Bomani Jr.
  1. Trapstar4.4
  2. I am Bomani Jr.
  3. Join Date: May 2008
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Wtf zcl
***Gender Non-Committed***
(She/Him/They/His/Theirs/Her/Them)


Falcons - Hawks - Braves
I make typos.
post 1538891891 12-28-2017, 11:59 PM
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#7077
  1. BostonRockets
  2. Flâneur
  1. BostonRockets
  2. Flâneur
  3. Join Date: Aug 2012
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ZCL vegas lambo meetup when is it guys??
Death is impossible for us to fathom: it is so immense, so frightening, that we will do almost anything to avoid thinking about it. Society is organized to make death invisible, to keep it several steps removed. That distance may seem necessary for our comfort, but it comes with a terrible price: the illusion of limitless time, and a consequent lack of seriousness about daily life. We are running away from the one reality that faces us all.
post 1538891911 12-29-2017, 12:00 AM
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#7078
  1. xE46M3x
  2. Registered User
  1. xE46M3x
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Where is this ZCL you guys speak of trading on?
post 1538891931 12-29-2017, 12:00 AM
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#7079
  1. Contribution05
  2. Registered User
  1. Contribution05
  2. Registered User
  3. Join Date: Jan 2011
  4. Location: Illinois, United States
  5. Age: 39
  6. Posts: 6,239
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XRB (Railblocks) is retarded. 20 cents to $14.50 in 1 month and still not slowing down. Jealous of anyone who got in under a dollar.
post 1538892131 12-29-2017, 12:06 AM
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#7080
  1. KillahJon
  2. Registered User
  1. KillahJon
  2. Registered User
  3. Join Date: Dec 2010
  4. Age: 35
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Originally Posted By xE46M3x⏩
Where is this ZCL you guys speak of trading on?
Click markets on coinmarketcap, It will tell you the exchanges
https://coinmarketcap.com/currencies/zclassic/
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