Historically, guaranteed returns + a need for people to constantly buy in = Ponzi. They even have misspelled words on their site and English is their native language.
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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Historically, guaranteed returns + a need for people to constantly buy in = Ponzi. They even have misspelled words on their site and English is their native language.
You do realize you just defined the WHOLE Global financial system right?
The guaranteed return ONLY comes in the form of interest IF somebody borrows
Anyway what words....example. I'm really interested to see this lol
It's an investment advisory type coin
Reggie is on the project so the project is automatically solid. How much were the tokens?
Thank you, for your response. Pre flop we were give a chance to purchase at .0015 per coin. The minimum buy in was $100. I came in with 500
should be solid the supply is rather high so i don't know how much you can expect on your return. instead what you can do is probably actually use the coins to get trading advice and invest in the coins they advise to get your money back that way.
Yeah I like Bitstamp
How long does it take to get to your account?
2-3 days
Has anyone made an LLC setup for crypto investing? I was planning on doing so to get a flat tax of 10% and write off a new computer build with monitors......
I vaguely recall @LegalMoney thinking along the lines of that much earlier in the thread...would be a pretty good idea
I'm glad you reminded me of that. I completely forgot that the tax rate for investment gains is a lot different than payroll tax.
Correct about the whole financial system. All I can say is I have been in it for 3 months and am averaging about .9% a day. It will eventually crash, but it is very early in the game.
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new company in the same "competitive" space as stratis...or @ least they want to be...they're holding an ICO which'll be done by 6PM tomorrow...they have an allotment of 125M tokens but have sold about 7M...any unsold portion will be burned...each token is about $0.20 ...there is no minimum order...I took a leap of faith and dove in...if they don't sell above 10M then that's a starting market cap of $2M...so lots of room to go up if the project gains traction...mainnet is live...they claim to be a self-funded startup...I just have to wait and see where it goes now
https://nebl.io/
https://bitcointalk.org/index.php?topic=2048414.0
https://www.reddit.com/r/Neblio/
the iffiest thing is their "team"
https://nebl.io/about/
site disclaimer for anyone worried about participating in the ICO
https://nebl.io/
https://bitcointalk.org/index.php?topic=2048414.0
https://www.reddit.com/r/Neblio/
the iffiest thing is their "team"
https://nebl.io/about/
site disclaimer for anyone worried about participating in the ICO
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So binance is a top 15 exchange already after just one month. If they wait for official SEC rules and regulations(probably 2018) on shit, they will become number 1 sooner than later. It will be the place where Americans can get coins that we supposedly won't be able to hold from ICOs. Bittrex isn't going to list them because of fear of the SEC. Bitfinex banned us. Polo is dying. Kraken is in fear of SEC/IRS.
If this is true, wonder what it means for BNB. We've seen ICOs like EOS come out the gate with hundreds of millions in volume, and there seem to be 3 respectable ICO tokens coming to binance.
If this is true, wonder what it means for BNB. We've seen ICOs like EOS come out the gate with hundreds of millions in volume, and there seem to be 3 respectable ICO tokens coming to binance.
I did.
Step by step info please
So you can just switch the crypto you currently own to an llc before turning into fiat? I'm about to research this shit.
I did the Legalzoom route and got a gold package. You get all the consulting you need and they pretty much do everything for you especially registering your business on the Fed and State levels. When I explained to them what I was doing, they told me I will pay capital gains (can't get around that) and try my best to find business expenses to help offset whatever corporate taxes I have to pay. Told me my best option was to elect to S-Corporation and put myself on payroll
It sounds good but I'm shelling out money for shit I didn't think I'd be paying (FICA, State taxes, unemployment insurance) but I'm supposed to get a lot of it back. Supposedly this is the best route since taxes I would be paying under a Sole Proprietorship and C-Corp were at a disadvantage.The hardest thing for me was convincing a big bank to open up an account for me base off what I'm doing. Bank of America finally came around after a week and half of going back and forth, Chase told me to kick rocks without even giving me a chance to explain. I would say set up a Legal Zoom account and let them take care of the rest. Take advantage of the legal and tax consulting that comes with your package.
The accumulated BTC I earn every week I sell them shits on Coinbase and deposit it to my bank account. Since I have a business account and the banks see the deposits coming from Paypal instead of a bitcoin exchange, I'm staying under the radar. But I went back and forth with Bank of America when trying to establish my business checking account because they don't understand this shit and they're concerned about the KYC/AML bullshit.
Props fam... I have a CPA who setup my llc years ago and also handles my taxes... I'll check with him this weekend.I did the Legalzoom route and got a gold package. You get all the consulting you need and they pretty much do everything for you especially registering your business on the Fed and State levels. When I explained to them what I was doing, they told me I will pay capital gains (can't get around that) and try my best to find business expenses to help offset whatever corporate taxes I have to pay. Told me my best option was to elect to S-Corporation and put myself on payroll
The hardest thing for me was convincing a big bank to open up an account for me base off what I'm doing. Bank of America finally came around after a week and half of going back and forth, Chase told me to kick rocks without even giving me a chance to explain. I would say set up a Legal Zoom account and let them take care of the rest. Take advantage of the legal and tax consulting that comes with your package.
For what?
so if it had been a personal checking account and the $$$ was coming from paypal there would've been no issue whatsoever? I'm asking for myself...want to travel the path of least resistance
also if you don't mind answering do you limit your deposits to a specific amount...like under $10k per day etc.?
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Honestly, I think you will be okay with Coinbase, Kraken, Bitstamp or any of these other exchanges that have direct fiat deposit/withdrawals as well as Paypal. I just didn't want to use the same source over and over cause the Chase people spooked me out about shutting down folks accounts using these exchanges trying to avoid paying taxes, not to mention, the Coinbase transactions show up on my bank statement as "Coinbase.com/BTC"
I searched long and hard to find out what Paypal's reputation is with banks and nothing negative came about so that's the route I decided to take in order to lower the chances of having to defend my deposits.No I have not limited my deposits but since I do weekly transactions, so far I have not earned that much in a week. However, I think you will be better served depositing $10k+ amounts into a business account vs your personal account. This is something else I consulted with a tax lawyer and they agreed. If you're going to draw IRS attention, might as well be under a limited liability.
Feel free to ask me any question at any time. I'm still learning this stuff as I go. If it weren't for the advice of @LegalMoney I probably wouldn't feel as grounded as I do now.
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Honestly, I think you will be okay with Coinbase, Kraken, Bitstamp or any of these other exchanges that have direct fiat deposit/withdrawals as well as Paypal. I just didn't want to use the same source over and over cause the Chase people spooked me out about shutting down folks accounts using these exchanges trying to avoid paying taxes, not to mention, the Coinbase transactions show up on my bank statement as "Coinbase.com/BTC"
No I have not limited my deposits but since I do weekly transactions, so far I have not earned that much in a week. However, I think you will be better served depositing $10k+ amounts into a business account vs your personal account. This is something else I consulted with a tax lawyer and they agreed. If you're going to draw IRS attention, might as well be under a limited liability.
Feel free to ask me any question at any time. I'm still learning this stuff as I go. If it weren't for the advice of @LegalMoney I probably wouldn't feel as grounded as I do now.
awesome brother...thanks man!!!
I do remember it was either here or on slack...cats was saying BOA was easier to work w/ but chase wasn't having the shit @ all
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Oh... I wanted to do a 50k deposit... I'm going to talk with my bank manager and ask about large depositsHonestly, I think you will be okay with Coinbase, Kraken, Bitstamp or any of these other exchanges that have direct fiat deposit/withdrawals as well as Paypal. I just didn't want to use the same source over and over cause the Chase people spooked me out about shutting down folks accounts using these exchanges trying to avoid paying taxes, not to mention, the Coinbase transactions show up on my bank statement as "Coinbase.com/BTC"
No I have not limited my deposits but since I do weekly transactions, so far I have not earned that much in a week. However, I think you will be better served depositing $10k+ amounts into a business account vs your personal account. This is something else I consulted with a tax lawyer and they agreed. If you're going to draw IRS attention, might as well be under a limited liability.
Feel free to ask me any question at any time. I'm still learning this stuff as I go. If it weren't for the advice of @LegalMoney I probably wouldn't feel as grounded as I do now.
Honestly, I think you will be okay with Coinbase, Kraken, Bitstamp or any of these other exchanges that have direct fiat deposit/withdrawals as well as Paypal. I just didn't want to use the same source over and over cause the Chase people spooked me out about shutting down folks accounts using these exchanges trying to avoid paying taxes, not to mention, the Coinbase transactions show up on my bank statement as "Coinbase.com/BTC"
No I have not limited my deposits but since I do weekly transactions, so far I have not earned that much in a week. However, I think you will be better served depositing $10k+ amounts into a business account vs your personal account. This is something else I consulted with a tax lawyer and they agreed. If you're going to draw IRS attention, might as well be under a limited liability.
Feel free to ask me any question at any time. I'm still learning this stuff as I go. If it weren't for the advice of @LegalMoney I probably wouldn't feel as grounded as I do now.
You haven't had any problems pulling out more than $10k from coinbase? Heard some horror stories about them and large amounts.
I'm looking into that bitpay card too. They allow up to 3k withdrawal from ATM once you load the card with bitcoins.
I actually did a sale and $11k deposit this morning straight to my account without going through Paypal. I'll let you know how it goes by Wednesday.
Damn what's up with NEO? Shit dropping like a rock! Should I get out? Will it rebound? Is there any news causing this?
That's the problem I'm having... The support team will not respond and my money is being held hostage...
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