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Forum ยป MISC Crypto Crew (MCC) Vol 9: At first I was like lambooo and then I was like lamooo
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Thread: MISC Crypto Crew (MCC) Vol 9: At first I was like lambooo and then I was like lamooo

post 1541805131 01-25-2018, 12:07 PM
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#5491
  1. SwayWay
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Originally Posted By RedSoxfan1978⏩
EXACTLY! Paper profits aren't profits at all. In this game you could have $1 million today and $300k tomorrow and vice versa. Since it isn't considered currency, how the fawk can they tax it as a gain? What have you gained? Numbers on a screen? There is no gains, there is no money, until we cash out to USD and send to the bank.
That's the thing, law has changed with the recent Tax Bill. You WOULD have to show the profits/loss you made on every transaction.
post 1541805141 01-25-2018, 12:08 PM
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#5492
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Originally Posted By juvefan⏩
Where are all my APPC cucks at
h...h..here
post 1541805211 01-25-2018, 12:08 PM
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#5493
  1. HMFIC_BROWSIN
  2. Buy high, sell higher.
  1. HMFIC_BROWSIN
  2. Buy high, sell higher.
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Originally Posted By brbacquiring⏩
All you brahs worrying about taxes, frauding hard - subtle bragging that you've actually made a profit. Everyone ITT isdown about 350% from initial investment.
Is this even possible??? Srs.
post 1541805331 01-25-2018, 12:11 PM
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#5494
  1. jinda628
  2. Lol ty.
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Originally Posted By eXistenceLies⏩
This is what I would like for them to do.They want every ****ing fiber of your gains.
And then you dont get credits on your loses lol. Those pieces of ****!
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post 1541805541 01-25-2018, 12:13 PM
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#5495
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Originally Posted By 2020Wellness⏩
It's viewed as property and has a USD value at the time of purchase and the time of sale based on how much BTC was worth in USD at each of those times.
I see, well then what are we actually paying? 40% and not 20%?
Wouldn't the aggregate gains all come out to the same thing? Tax every individual transaction, or yearly profits. I mean you could have made $50k on two transactions or 200 transactions. It's essentially the same thing at that point isn't it?

I'm just genuinely curious here. I'm playing with pocket change compared to many here. I'm just trying to figure the whole thing out. It seems much more complicated than it should be. But they like that don't they?

The best way to regulate or control a market. Tax it to death.

"The power to tax is the power to destroy." Feels...
"Johan tells me that your luggage, is the luggage of the poor."

"The will to survive is not as important as the will to prevail... the answer to criminal aggression is retaliation." - Col. Jeff Cooper USMC Ret.
post 1541805621 01-25-2018, 12:14 PM
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#5496
  1. HMFIC_BROWSIN
  2. Buy high, sell higher.
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Are you brahs actually down Fiat RN? I thought that was a joke. I was a realized +$9450 between 11/14-12/31 last year. Only +$2421 since 1/1 though (unrealized).
post 1541805881 01-25-2018, 12:16 PM
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#5497
  1. mgftp
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Originally Posted By bjjnovice⏩
h...h..here
How many coins you got partner?
Originally Posted By jinda628⏩
Is the money transfer instant? I only trade in GDAX, deposit ETH/BTC and trade.
I haven't deposited fiat there, only in Coinbase. I know its one company but in Coinbase, it takes 1 week for ACH and instant for CC or wire but with fees.

Robinhood promises no fees top to bottom and instant transfer. Also the potential of more coins being added.

And aside from that, more competition between exchanges meaning pricing could be advantageous for us.
ACH isn't instant, 2-4 days, the tech doesn't allow it instantly as far as I know. Wire transfer isn't instant either but gets done pretty quickly, usually hours but your bank will charge a wire fee regardless of where it is going, so I don't see how Robinhood is going to do free instant transfers unless it is credit card, was payment method mentioned? I was under the impression it was wire transfers which you will be hit with a fee from your bank, maybe they are just stating they wont charge additional fees. So I fail to see a real difference here from GDAX in respect to fees, which is why I was asking if I was missing something.

And don't get me wrong, I am very much in favor of more coins and easier entry for more to the market, it will help crypto as a whole, I just don't see any benefits to me personally unless the user interface is simply better than GDAX. It also gives Coinbase/GDAX some incentive to get more coins sooner than later if they competition coming, but by the looks of things it's a long ways off from Robinhood allowing trading on numerous coins for most US residents.
post 1541805911 01-25-2018, 12:17 PM
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#5498
  1. jinda628
  2. Lol ty.
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Originally Posted By brbacquiring⏩
All you brahs worrying about taxes, frauding hard - subtle bragging that you've actually made a profit. Everyone ITT is down about 350% from initial investment.
Lol brah if you are down like that then you don't know wtf you're doing.
At this point where most my coins are down, I'm still at 8.7X my initial investment.

You must have messed up so bad to be down in this market.
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post 1541805931 01-25-2018, 12:17 PM
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#5499
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Originally Posted By WinterFresh⏩
Honestly if you've taken the crypto out of the exchanges it's gone as far as they can basically track.. If you had it sitting in a ledger how would they even know.. you could always say you made a mistake in the address and it's gone forever or forgot your mnemonic. Even harder for them to track if you use foreign exchanges.. they will only see cash from your bank out and cash from your exchange in. Yeah I know people can trace that **** but they don't have the time. brb cashing out p2p.. how would they even know if you bought 1btc at coinbase, transferred it to your ledger, then .5btc to an android wallet, spent it all.. they can't.

a big deposit into your account like "Coinbase: $150,000" then yeah you're ****ed.
Or if you sold it for cash on craigslist
post 1541806001 01-25-2018, 12:18 PM
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#5500
  1. bjjnovice
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Originally Posted By mgftp⏩
How many coins you got partner?



ACH isn't instant, 2-4 days, the tech doesn't allow it instantly as far as I know. Wire transfer isn't instant either but gets done pretty quickly, usually hours but your bank will charge a wire fee regardless of where it is going, so I don't see how Robinhood is going to do free instant transfers unless it is credit card, was payment method mentioned? I was under the impression it was wire transfers which you will be hit with a fee from your bank, maybe they are just stating they wont charge additional fees. So I fail to see a real difference here from GDAX in respect to fees, which is why I was asking if I was missing something.

And don't get me wrong, I am very much in favor of more coins and easier entry for more to the market, it will help crypto as a whole, I just don't see any benefits to me personally unless the user interface is simply better than GDAX. It also gives Coinbase/GDAX some incentive to get more coins sooner than later if they competition coming, but by the looks of things it's a long ways off from Robinhood allowing trading on numerous coins for most US residents.
I've got 383 coins, that I bought at 3.50$.... roughly 50% of my portfolio.
post 1541806101 01-25-2018, 12:18 PM
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#5501
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Originally Posted By jinda628⏩
Lol brah if you are down like that then you don't know wtf you're doing.
At this point where most my coins are down, I'm still at 8.7X my initial investment.

You must have messed up so bad to be down in this market.
considering the entire market just tanked 50%, not really.
post 1541806201 01-25-2018, 12:20 PM
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#5502
  1. RedSoxfan1978
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Originally Posted By jinda628⏩
And then you dont get credits on your loses lol. Those pieces of ****!
Meanwhile, a woman with five kids, from four different dads works part time and makes $8k a year, then gets $12k back as a tax return. On top of all her assistance from the feds and state programs.

But.....bu......b poor people can't make it today. Unreal...
"Johan tells me that your luggage, is the luggage of the poor."

"The will to survive is not as important as the will to prevail... the answer to criminal aggression is retaliation." - Col. Jeff Cooper USMC Ret.
post 1541806311 01-25-2018, 12:21 PM
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#5503
  1. jujuB
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damnittttttt

how did i not know about this

https://news.kucoin.com/en/odyssey-g...ted-on-kucoin/

either way, i bought in. holding it for the rest of the year.

hopefully my order at 30 fills.
RIP mainsqueeze530 1991-2013
post 1541806441 01-25-2018, 12:21 PM
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#5504
  1. EasTexan
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Originally Posted By brbacquiring⏩
All you brahs worrying about taxes, frauding hard - subtle bragging that you've actually made a profit. Everyone ITT is down about 350% from initial investment.
Mining crew, steady growing. Still up, but not like 3 weeks ago.

Also had some BTC from 2012. XRP from .17 and .22. Etc...
post 1541806591 01-25-2018, 12:23 PM
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#5505
  1. Cudabrah
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Originally Posted By RedSoxfan1978⏩
I see, well then what are we actually paying? 40% and not 20%?
Wouldn't the aggregate gains all come out to the same thing? Tax every individual transaction, or yearly profits. I mean you could have made $50k on two transactions or 200 transactions. It's essentially the same thing at that point isn't it?

I'm just genuinely curious here. I'm playing with pocket change compared to many here. I'm just trying to figure the whole thing out. It seems much more complicated than it should be. But they like that don't they?

The best way to regulate or control a market. Tax is to death.

"The power to tax is the power to destroy." Feels...
Ultimately, yes. Every gain when there is a sell is a taxable event and those accumulate over the year (buy low, sell high). However, it can be offset by the losses (buy high, sell low) and trading fees that occur.

The nightmare will be (if done properly) determining the actual cash value of each transaction. Which will generally require you to know the value of your coin (probably relative to BTC, ETH, etc) at the time of purchase....and then you'll need to know the value of BTC or ETH (in dollars) at the time of purchase, and the same when you sell.

I'm hoping that somebody develops an app or website that you can enter your trade history and it will do the math for you. Either that or just hide from the feds and hope.


Not srs.











semi srs.






















inb4 FBI.
440+6 crew; Buccaneers Crew
* Engineering Crew *
post 1541806751 01-25-2018, 12:25 PM
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#5506
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Mucksnapper, what are we thinking BTC will do today?


Whats your TA say
post 1541806801 01-25-2018, 12:26 PM
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#5507
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I love Robinhood. Made buying stocks so easy and cheap.
B:300 S:405 D:485

2/5/17: The Crowning of King Brady.

"I have embraced my Autism. I am a proud Autist. I believe it endows me with special powers that are incomprehensible to pathetic normies like you. I would gladly sacrifice any chance at a normal life to benefit from the GIFT that is AUTISM."-Ausaric
post 1541806821 01-25-2018, 12:26 PM
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#5508
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Anyone want a free .1 BTC?

All you have to do is be one of the first 10 people to get a nitrogen sports tattoo lmao
post 1541806861 01-25-2018, 12:26 PM
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#5509
  1. jinda628
  2. Lol ty.
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Originally Posted By mgftp⏩
but by the looks of things it's a long ways off from Robinhood allowing trading on numerous coins for most US residents.
Yes, they are only opening BTC and ETH next month.
I honestly don't know the details on how they will do that.
Maybe it will be clearer when we get there.

I'm just excited to know that Coinbase will not be the only choice for a US based crypto exchange.
I really think it will be a good competition. So that alone will benefit all of us indirectly even though some of us are happy with coinbase.
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post 1541807051 01-25-2018, 12:28 PM
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#5510
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Originally Posted By FFailed⏩
Anyone want a free .1 BTC?

All you have to do is be one of the first 10 people to get a nitrogen sports tattoo lmao
....I'd do it.
post 1541807221 01-25-2018, 12:30 PM
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#5511
  1. EasTexan
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Originally Posted By jinda628⏩
I'm just excited to know that Coinbase will not be the only choice for a US based crypto exchange.
Gemini over there like.

post 1541807281 01-25-2018, 12:30 PM
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#5512
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Originally Posted By bjjnovice⏩
....I'd do it.


.4 goes to the best one
post 1541807531 01-25-2018, 12:32 PM
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#5513
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Originally Posted By jinda628⏩
Yes, they are only opening BTC and ETH next month.
I honestly don't know the details on how they will do that.
Maybe it will be clearer when we get there.

I'm just excited to know that Coinbase will not be the only choice for a US based crypto exchange.
I really think it will be a good competition. So that alone will benefit all of us indirectly even though some of us are happy with coinbase.
Hopefully Fairx gets going soon. Both of those will be a huge help getting new money into this MLM scam.
post 1541807611 01-25-2018, 12:33 PM
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#5514
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Originally Posted By FFailed⏩


.4 goes to the best one
-".1 btc"
-.1 btc credit to be used on their casino platform

lame
post 1541807691 01-25-2018, 12:34 PM
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#5515
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post 1541808261 01-25-2018, 12:39 PM
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#5516
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i buy bitcoin at 1k, goes up to 10k and i sell. pay CGs on the 9k i made.

i buy bitcoin at 1k, goes down to 500 and i sell. show losses on -500 i made.

i buy bitcoin at 1k, goes up to 10k and i buy chitcoin. pay CGs on the 9k i 'made'
chitcoin falls to 500.. still paying the 9k i 'made' for selling bitcoin.

i buy bitcoin at 1k, goes up to 10k and i buy chitcoin. pay CGs on the 9k i 'made'
chitcoin falls to 500.. i sell. 9k CGs + 9.5k CLs, show -500 i made.

gains/losses are triggered by a trade, not only by cashing out.
very comparable to how a stock is treated.. should be more of how a
commodity is treated imo.

i use binance, kukoin, etc. for everything. so planning to show that im just amazing
at trading strictly bitcoin when (if) i profit out.
~Misc from work crew~
~Misc BJJ Crew~
post 1541808631 01-25-2018, 12:42 PM
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#5517
  1. jinda628
  2. Lol ty.
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[QUOTE=bjjnovice post_id=1541806101]considering the entire market just tanked 50%, not really.[/QUOTE]I'm only responding to his post that all of us ITT is down 350%. I know he's trolling though but some might believe him lol.
But to answer your post, the market is 50% down from it's ATH but we are actually still up on a monthly average marketcap measure this month than December.
Dec average is $484B and this month, we are still at $714B due to high cap early January. So the global market cap is not really down if you look at it month by month.

A lot of people are down because they bought in during the ATH but there are still a lot here who are in this way early and are still up.

[QUOTE=EasTexan post_id=1541807221]Gemini over there like.

[IMG]https://media1.tenor.com/images/03ccf3e07f80af8b7dfb4e556f8eabb5/tenor.gif?itemid=5576725[IMG][/QUOTE]I know brah but I was referring to US based exchanges.
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post 1541810091 01-25-2018, 12:55 PM
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#5518
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Originally Posted By RaphaelDeLaGhetto⏩
Believe it or not, many of us didn't start trading crypto at ATH
LMAO this! Crypto would have to crash for me to lose money.
post 1541810251 01-25-2018, 12:57 PM
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post 1541810291 01-25-2018, 12:57 PM
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You guys better jump on ACHAIN before it moons.
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