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Official BGOL Crypto Currency Thread ★★★★★
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Disgraced FTX founder Sam Bankman-Fried to be released on $250m bond
Fallen FTX will be released on a $250million bond, according to a deal struck today in a New York City courtroom.
Bankman-Fried's Parents, FTX Execs Bought $121 Million in Bahamas Real Estate
NEW PROVIDENCE, Bahamas (Reuters)—Sam Bankman-Fried's FTX, his parents, and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.
freebeacon.com
Attorney warns crypto crooks to take plea deals on the table
The attorney who charged Sam Bankman-Fried's ex-girlfriend and FTX co-founder gave a stern warning to all crypto crooks to come forward while plea deals are still on the table.
Sam Bankman-Fried to fly back to US today after U-turn on extradition
The disgraced FTX founder was formally extradited to the United States when he appeared in a Bahamas court Wednesday - after telling the presiding magistrate: 'I'm doing well.'
Sam Bankman-Fried's full planned testimony prior to arrest
Disgraced FTX founder Sam Bankman-Fried's full prepared testimony has been leaked, revealing the rambling, grievance-laden opening statement he planned to deliver in a Congressional hearing.
From what I read, this just means exchanges don't or shouldn't report your gains or loses to the IRS and they aren't required to provide you with the related tax forms.
Customers are still supposed to report for themselves and pay taxes on crypto sold for a profit. If the person was being serious, I don't understand what is being celebrated or I'm missing something.
US delays crypto tax reporting rules, as it still can’t define what a ‘broker’ is
Taxpayers will still be required to pay taxes on crypto gains and losses, but “brokers” will not be required to report their customers’ trading incomes yet.
cointelegraph.com
Love when the government exposes itself. Can't define broker because they want to eat their cake and have it too. Bitcoin miners and DeFi would get caught up. Regular people being called brokers.What a mess all this is causing for governments who basically don't want to tell citizens they ain't free. They got to find the right wording for fuckery.
That's just under $2.2 billion dollars in today's price
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Bitcoin’s biggest buy-and-hold evangelist sells BTC for first time ever after spotting lucrative U.S. tax loophole
BYVILDANA HAJRIC AND BLOOMBERG
December 29, 2022 at 5:29 AM EST
Bitcoin champion Michael Saylor vowed not to sell his holdings, until he discovered a gaping loophole in the U.S. tax code.
EVA MARIE UZCATEGUI—BLOOMBERG/GETTY IMAGES
MicroStrategy Inc., the enterprise-software firm better known in recent years as the largest corporate buyer of Bitcoin, announced a series of transactions including its first ever sale of the token. The company remains a net buyer.
In a filing Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the start of November and Dec. 21 through its MacroStrategy subsidiary, paying roughly $42,8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of around $11.8 million, citing tax purposes, before buying 810 more of them two days later.
“MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains,” the company said to explain the Dec. 22 sale. This “may generate a tax benefit,” MicroStrategy said in its filing.
Because cryptocurrencies largely aren’t deemed securities, there are no crypto-specific “wash rules” that would apply to the market, says Sean Farrell, head of digital-asset strategy at Fundstrat, who doesn’t work on tax implications directly but tracks the space closely.
“So we’re operating in this world in which, for lack of a better word, it’s a loophole where if you are sitting on a position below cost, you are able to sell that position and immediately re-buy those assets at the same spot price,” Farrell said in an interview. “That’s essentially what MicroStrategy is trying to do to optimize their holdings and help obtain some tax relief.”
All in, MicroStrategy held about 132,500 Bitcoin worth more than $4 billion as of Dec. 27. The firm paid an average purchase price of $30,397 per Bitcoin. Bitcoin on Wednesday traded at around $16,650, having lost more than 60% for the year, a decline that puts it on pace for one of its worst annual stretches on record.
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“There is no change to our Bitcoin strategy, which is to acquire and hold Bitcoin for the long term,” said Shirish Jajodia, head of investor relations and treasury at MicroStrategy.
MicroStrategy had over the pandemic years become well known for its Bitcoin acquisitions, led largely by its charismatic Chief Executive Officer Michael Saylor. Saylor earlier this year relinquishedthat role and now serves as executive chairman at the firm and still leading its Bitcoin strategy.
The company’s shares fell 6.5% on Wednesday to around $138, the lowest level since August 2020. They are down roughly 75% year to date.
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LOL they were moving too fast, and their hasty
attempts to regulate crypto, is whats going to expose,
the fuckery of traditional banking...
What a mess all this is causing for governments who basically don't want to tell citizens they ain't free. They got to find the right wording for fuckery.
Fuckin cocksuckas put a cap on how much you can claim for losses but aint no cap on
taxes on
money you earned..
they need to be stopped!!
when is the IRS gonna audit the pentagon and make
that public??
Where could i find the whole talk.
I listened to the whole vid and he is correct. That said, it looks like he's in prison for some shady financial smoke and mirror moves his self.
Picture wont load,
Its basically a quote of Max Keiser, saying,
the govt will be so thirsty to get their hands on bitcoin,
they will be offering, tax breaks for it..
and How its the Peoples answer and a big fuck you to
BIg Banksters..
He is also quoted as saying London is a cesspool of financial fuckery
and it why financial institutions love setting up shop there,
mind you, London runs our legal system..quiet as that shit is kept
barristers in the corporation USA are all whores for England...
there is a reason D.C is not part of this country...
so much fuckery is being exposed its not even funny..
He also mentions how we are all born debt free, but the minute
we start speaking we are in debt..
aka meaning the minute you get a
Birth Certificate...
Which is a bond by the way, that is actually traded on the world market,
but you aint hear that shit from me..
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Yeah, that cap on losses ain't shit fam. Pisses me off on how the game is set, but the game is the game. At least we playing and not watching. Governments going to government.
And then we got weirdo socialists who want to fuck with the capital gains even more.
Man, fuck all these people who don't invest, don't create business, and just spend tax dollars. Fuck'em all.Caught between greedy ass capitalists and weirdo socialists. Meanwhile, bitcoin is truth. Everyone can see the action. Seems like a lot of people in power hate truth. That's why people in power love censorship.
Max been on some shit. Those of us been around a long time remember when he did MaxCoin.I listened to the whole vid and he is correct. That said, it looks like he's in prison for some shady financial smoke and mirror moves his self.
Maxcoin came out in 2014, but this guy claims he been a bitcoin maxi. As with most humans, he ain't above taking advantage of other humans.He does say some good shit about the crooked financial system though. But he going to do Max first and foremost.
The governments will crush anything that undermines their centralization of monetary policy. And to make matters worse they allow a select chosen few to game those centralized financials systems. The 2% are allowed to exploit the masses because they're the ones that prop up the politicians with campaign donations and other consideration.Yeah, that cap on losses ain't shit fam. Pisses me off on how the game is set, but the game is the game. At least we playing and not watching. Governments going to government.
And then we got weirdo socialists who want to fuck with the capital gains even more.
Caught between greedy ass capitalists and weirdo socialists. Meanwhile, bitcoin is truth. Everyone can see the action. Seems like a lot of people in power hate truth. That's why people in power love censorship.
Max been on some shit. Those of us been around a long time remember when he did MaxCoin.
He does say some good shit about the crooked financial system though. But he going to do Max first and foremost.
That's why I closely watched the IMF/el salvador and how bitcoin mining moved to the U.S.
The cacs who run the U.S. are the slickest of the slick. Just like them to control the mining of bitcoin while acting like it would still be a threat. Have the IMF bitch slap anyone who tries to fuck with bitcoin/crypto while U.S. gets the mining advantage.
Price stays down until setup is complete and the entire 'dirty bitcoin' narrative can be played out. That way any of the old bitcoin from back in the day can be taken off the board/seized due to 'muh dirty reasons'. So all the people who think they rich sitting on old bitcoin going to be in for a rude awakening.
Yeah, that cap on losses ain't shit fam. Pisses me off on how the game is set, but the game is the game. At least we playing and not watching. Governments going to government.
And then we got weirdo socialists who want to fuck with the capital gains even more.
Caught between greedy ass capitalists and weirdo socialists. Meanwhile, bitcoin is truth. Everyone can see the action. Seems like a lot of people in power hate truth. That's why people in power love censorship.
Max been on some shit. Those of us been around a long time remember when he did MaxCoin.
He does say some good shit about the crooked financial system though. But he going to do Max first and foremost.
Bruh them fuckin weirdo fucktard socialist, REALLY SAID,
YOU WILL OWN NOTHING AND BE HAPPY... WHA DA FUCK??
do then WHO IS GOING TO OWN SHIT and be EVEN HAPPIER!??
They really pulling out the mindfuckery tricks... The world DOES need
Depopulation
BUUUT
its the gluttonous fuckin satanic child murdering capitalist and the weirdo socialist,
with their wretched hands all in our pockets and lives literally
stealing from us and telling us what we cant and can have like we thier
fuckin children..
THEY NEED TO BE DEPOPULATED, THE MASSES ARE FUCKIN FINE!!
and you can find them all they are the ones telling the largest corporations
and banks what to do, they are the cocksucers pulling the strings
at the
WORLD ECONOMIC FORUM......
they are working day and night trying to depopulate us..
ITs ONLY FAIR WE RETURN THE FAVOR!!!
and trust me...
WE slowly waking up to that fact....
Also those cocksuckin banksters put out an algorithim to steal peoples funds
especially if you use shit like metamask... and decentralized shit...
it tricks people into putting in their recovery phrases then wipes out
all their shit... you gotta leave all third party apps alone... they
went all out tryin to push their bullshit central banking coin nobody wants...
so many folks lost big money because what these banksters are doing,
most of that money was lost through the riskier coins tho, many shit coins..
they are so fucked because of all the coins coming out thats backed
precious metals coming out...
and many African countries are talkin about doing so...
They went ALL IN trying to stop this shift,
but a little birdy is telling me, they got caught
in their own three card molly/ shell game..
In a few months, they are gonna actually look under
the shell and realized, aint nothing there...
The shift is happening under another shell and they
completely missed it...
I still cant say too much now, because the elite parasites
are STILL snooping around tryin to sniff out which way
we moving so they can cockblock it...
we just gotta sit and wait and let them show their hands,
so far they are starting to reveal it,
what they dont want to say is, that their only hope
their digital coin, is not catching on at all...
they already spread that shit between their ilk...
like I said, stupid greedy soulless fucks NEED
US to push that shit.. they have zero power,
in fact negative power when it comes to influencing
the masses if it doesnt require brute force through
their bullshit rules we mistake as laws...
the great news their time is running out,
so in the next couple of months expect more
desperate fuckery coming from them....
its fuckin insanity how they held the crypto market down this long,
bitcoin should be around a hundred thousand by now...easy...
In a few months you are going to see the crypto world
go on the offense...
Its going to be GLORIOUS!!
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