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Official BGOL Crypto Currency Thread ★★★★★

RoomService said:
man wtf

I didn't move any money out of the exchange, I just bought back in. What about then?
Yes. A tax event occurred and you gained money, even though it isn't in your bank account. For tax purposes it is treated no differently.
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from my understanding of it that means you have to report it not necessarily pay for it
 
HeathCliff said:
Oh yea, one thing I forgot to mention...the BTC that you use to make a merchant purchase...yeah that's taxable too.

Sorry I gotta laugh to keep from crying :lol: There are no two ways around this shit if the IRS really wants to lay the clamps down :smh:
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shiiiyyat..... why would you tell them? seriously?
 
LSN said:
I do...plus the exchanges keep records too...I'm just mostly worried about doing the right thing and getting screwed over for doing such
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Coinbase has never sent me any tax info, and I have been on it a couple of years. What if your bitcoin was donated to you?
 
Gully said:
Coinbase has never sent me any tax info, and I have been on it a couple of years. What if your bitcoin was donated to you?
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you'd have to prove it I guess...idk how tho...is that a real scenario or hypothetical?
 
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ceedizzle said:
I'm sure there's a way around this but make sure you're prepared to pay your taxes. They're doing everything they can to get info on us.

The IRS Has Special Software to Find Bitcoin Tax Cheats
Jeff John Roberts
10:02 AM ET
contract unearthed by the Daily Beast, the IRS is paying a company called Chainalysis to help identify the owners of digital "wallets" that users employ to store their bitcoins.


In a letter to the IRS, the co-founder of Chainalysis says the company has information on 25 percent of all bitcoin addresses and that it deploys millions of tags to help track and identify transactions. Here is a screenshot of a paragraph from the letter:



The decision by the IRS to license the software of Chainalysis, which is based in Switzerland with an office in New York, appears to be part of the agency's larger campaign to target digital currency users who have failed to pay tax.

As Fortune reported earlier this year, the IRS claims only 802 people declared a capital gain or loss related to bitcoin in 2015. This is significant since the price of bitcoin soared from around $13 to over $1100 between 2013 and 2015, and hundreds of thousands (like millions) of Americans bought and sold digital currency during this time—in other words, there are many people who face bitcoin-related tax trouble, and the IRS is tracking some of them down.

Get Data Sheet, Fortune’s technology newsletter.

There are indications, though, the IRS is focusing only on the bigger fish. For instance, in the agency's ongoing legal battle with the popular digital currency exchange, Coinbase, the IRS recently agreed to limit its request for customer records only to accounts with transactions over $20,000.

Nonetheless, the IRS's use of the Chainalysis software is likely to make some bitcoin owners uneasy. Meanwhile, on bitcoin forums, some users have expressed resentment against exchanges like Coinbase, Kraken, and Mt. Gox for allegedly storing wallets in such a way that analytic companies like Chainalysis or BitSeer can identify individual users.

The forum chatter also shows some bitcoin users are thinking of switching to other digital currencies like Monero that are harder to trace.

Finally, the existence of tools like Chainalysis doesn't mean bitcoin users can't be anonymous. Those who wish to keep their identity concealed can do so by maintaining their own wallet and avoiding exchanges that collect customer information.

http://fortune.com/2017/08/22/irs-tax-cheats-bitcoin-chainalysis/
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These bloodsucking demons. People are just going to start mixing their BTC. Most folks don't have a problem paying taxes, but don't hassle people until they convert to fucking fiat.
 
came in my e-mail this morning this support ticket was from April... today is Aug 23rd


Dear
We are sorry to inform you that our profile verification process is taking longer than usual.

As long as there are no error messages on your profile page and you have completed all the fields required for the level of verification selected, your request is in the verification queue and will be reviewed as soon as possible.

Thank you very much for your patience, and we are sorry for the inconvenience. If you have any further questions, please do not hesitate to ask.

Sincerely,
Poloniex Support Team
 
TheyCallMeBe said:
Any of y'all invested in Blockcat (CAT)? It's pretty much a bunch of templates that allow people without programming experience to be able to make smart contracts on the Ethereum platform.

Marketcap is only 35 mil and it's only about 7 million coins. Looks promising
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hey brother are you a part of the slack group?

you be dropping some good intel...I was just checking out blockcat myself...I seen it a few of days ago but kinda slept on it
 
TheyCallMeBe said:
Nah I had requested an invite forever ago but never got an invite
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brother put out another request to the brother "spectrum". he is always on there. brother over there dropping good info and trying to get everybody paid and they giving out info and discussing leads and crypto-happenings and such. if you dont get an invite HMU back at this spot and ill get you over to the crytpo crossroads.
 
LSN said:
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Bruh, we talked about this since the Wagerr ICO. Remember when cats were talking about the shirts they were pumping? This could have been a major come up. They got bets on the fight, but should have just thrown him something to wear a shirt.

Wow.

Can't believe how the game is playing out. Crypto about to be on mixtapes. :eek::eek::eek:
 
Moving Target said:
brother put out another request to the brother "spectrum". he is always on there. brother over there dropping good info and trying to get everybody paid and they giving out info and discussing leads and crypto-happenings and such. if you dont get an invite HMU back at this spot and ill get you over to the crytpo crossroads.
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Yeah bro get me over to the crossroads plz
 
TheyCallMeBe said:
Yeah bro get me over to the crossroads plz
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theycallmebe.....man i dropped spectrum a note on the slack. he offline right now but he will get it as soon as he gets back on. stay tuned bc i sent him a link to this direct thread. ....bring your knowledge, your intelligence, your intel, and a good attitude. brothers over there about getting money and not BS'ing.....IT IS NOT BGOL. ...you going in on my request, so DO contribute to the growth and the knowledge over there. its not like those BS groups where people trying to use you to get money, but we share info and keep helping each other stay abreast of whats going on in the community...good and bad. its been some nice tips over there too.
peace FAM...and ill check back to make sure you get the invite...BTW, we meet have virtual on sundays ........................

Spectrum runs the show, so he stay busy. but he will get at you. keep watching, if you aint heard by saturday, HMU again.
 

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