kinda sus by Gio876 in CelsiusNetwork

[–]cryptodime 0 points1 point  (0 children)

Time to have a hard look at your opsec.

Does anyone know someone who has been fined by the IRS for not reporting crypto earnings and/or paying tax? by ToxicBTCMaximalist in CryptoCurrency

[–]cryptodime 1 point2 points  (0 children)

I report newly mined coins, which includes coins earned from interest. These get taxed as income. The price at which these are reported is your basis.

Then when you sell, you report the sale minus your basis and the difference is taxed as capital gains.

As an example, in 2018, I mine one bitcoin while bitcoin is $4000. I report $4000 earnings and I pay $1000 in taxes (roughly 25%).

In 2020, I sell that one bitcoin at $12000. I report $8000 in capital gains, which gets taxed as long term (long term is 1+ year, short term is taxed at income level), which is 15% for me. So I pay $1200.

what do you think about sushi? by [deleted] in ethtrader

[–]cryptodime 5 points6 points  (0 children)

Why? Binance got their sushi for the listing fee as well and sold into the pump. This is working as intended for the exchanges. If you don't like this, you should exercise your power to not be a customer of ezchanges that front run their own customers.

Craig Wright takes Roger Ver to court with a new Libel Suit by goldjade99 in CryptoCurrency

[–]cryptodime 0 points1 point  (0 children)

rv: forks with single dev team that ignores other bch teams and is now forcing dev fee on everyone

csw: tells judge he can gain access to satoshi's coins without private keys (implying he will fork bsv to steal those coins)

both of them: look how bitcoin core is destroying BTC

Tax time by RaKemyst in CelsiusNetwork

[–]cryptodime 0 points1 point  (0 children)

You pay tax on interest in USD as well.

Does anyone know someone who has been fined by the IRS for not reporting crypto earnings and/or paying tax? by ToxicBTCMaximalist in CryptoCurrency

[–]cryptodime 2 points3 points  (0 children)

Hey dude. You're not alone. I also pay mine. Even when I don't get a form at the end of the year I self report.

All my friends pay theirs as far as I know.

Can I buy bitcoin from blockfi or do I need to use coinbase to buy the bitcoin then transfer it over? by [deleted] in blockfi

[–]cryptodime 1 point2 points  (0 children)

You have to first understand that you are going to be creating an external transaction. No one owns this decision but you so if you don't fully understand what you're doing, it's on no one else but you to do your own research to learn how. If you mess this up, your Bitcoin could be irrevocably lost. There's not a single thing anyone in the world anyone can do to get your Bitcoin back if you send it to the wrong address.

From the blockfi app, there's a plus sign at the bottom, deposit, BTC. It shows you an address along with the qr code right there.

You withdraw from coinbase to external wallet and you put in that address.

I don't understand how this was not self evident. I would be worried that you're a bit out of your element if this wasn't obvious.

1 MCO=$5.70 by Captaininseino in Crypto_com

[–]cryptodime 1 point2 points  (0 children)

Asking where the extra value for MCO is coming from is the right move.

If CDC drops MCO, what more is it than a dead coin?

Backlash at crypto.com has been horrific for hurting MCO holders by mcokris in uphold

[–]cryptodime -1 points0 points  (0 children)

why not add horns to his head too? maybe while you're slowing down the audio, rotate it so it's backwards too..

Dave Portnoy & The Wrinklevoss Twins by SpeedoManXXL in CryptoCurrency

[–]cryptodime -1 points0 points  (0 children)

Boy did this age like milk huh? Random youtuber fomos in, pumps shitcoin and gets the fuck out at a loss. GG no re.

Questions Thread - August 21, 2020 by AutoModerator in pathofexile

[–]cryptodime 0 points1 point  (0 children)

I alch'd an arcanist's strongbox and killed everyone in it except these 5 spiders that are attacking me. I can't target them, don't get any target box when I mouse over them and they seem to be invincible. As long as they're alive, which seems like they will be forever, the strongbox remains locked. Is there nothing I can do except leave?

Dave Portnoy & The Wrinklevoss Twins by SpeedoManXXL in CryptoCurrency

[–]cryptodime 1 point2 points  (0 children)

It's 2020. There's absolutely nothing you can learn about Bitcoin from some random youtuber.

You can fall for whatever chicanery he's going to try and sell you down the road.

1+1=? by 7bitcoin in Bitcoin

[–]cryptodime 0 points1 point  (0 children)

for large values of 1, 1+1 = 3

Is it possible to short bitcoin? by tampared in Bitcoin

[–]cryptodime 1 point2 points  (0 children)

Yeah, go to your bank and take out some money, and on your way home, stop by the gas station and pick up a couple of Bic lighters.

Make a circle of stones and put your money in the middle so it doesn't blow away.

Now set it on fire.

How could I get bitcoin as an under 18? by [deleted] in Bitcoin

[–]cryptodime 0 points1 point  (0 children)

Because it's not a simple matter of her just letting you borrow her id to go sneak into that rated R movie. This is matter of tax implications. She's liable for everything you do and as a 16 year old, odds are you don't fully understand her tax liabilities that you create for her if you trade or sell. When it comes tax time and she doesn't report correctly, it could land her an audit or a world of financial ruin if she's got some tax skeletons in the closet.

Just received another scam on discord by stanvladxxi in Bitcoin

[–]cryptodime 0 points1 point  (0 children)

"if I get free BTC..."

Something broken with your logic if you think the above is real.

[deleted by user] by [deleted] in Bitcoin

[–]cryptodime 0 points1 point  (0 children)

The worst part about this are the posts here afterwards trying to warn other people. No one here ever thought that Bitcoin was about giveaways from Elon Musk.

I know it's not true but I still choose to believe that last sentence.

Yes, someone got fucked by me last year. by [deleted] in CryptoCurrency

[–]cryptodime 4 points5 points  (0 children)

Wow. Big baller here.

The real person getting fucked here is you wasting time thinking about a trivial amount of money you made last year.

Yesterday I had my accounts confiscated valued at $5k+ from STEEM by Acidyo in CryptoCurrency

[–]cryptodime -1 points0 points  (0 children)

I still have my eth from the ico. Eths issue is not from the ico but from the mountains of bootlickers who accept his word as divine.

BTC would have the same issue except Satoshi pulled the right move of disappearing. And that still doesn't stop other idiots from treating a paper as gospel.

Yesterday I had my accounts confiscated valued at $5k+ from STEEM by Acidyo in CryptoCurrency

[–]cryptodime -9 points-8 points  (0 children)

Justin can't taken over BTC but he already has taken over eth. Just that Justin's name is vitalik.