You paid taxes on your gains... Right?

No, I'm just going to hold it until I can just buy stuff with it.

Fuck the tax man. Even now you could just use a bitcoin card

lel in italy we don t pay taxes on coins if we don t gain more than 50.000

>>2970415
>hold for 1year
>don't have to pay taxes
wew some laws are pretty decent

>>2970449
Redpill me on the Bitcoin card.

>>2970511
Wait that's the law?

>>2970527
there is more than 1 country

>>2970415
I'll pay taxes when I withdraw. I have a security clearance for my job so I'm under more scrutiny anyway.

Gotta pay the devil his due.

>>2970519
There are a bunch, bitpay is a good example

>>2970511
you still need to pay long term capital gains tax

>>2970543
I've tried a few cards, and I like Wirex. Has a good app, and good service.

living in a 3rd world country at least has some pros

>>2970519
Literally just a debit card but BTC instead, nothing else to it

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>>2970519
It's a good idea to spend your investments on dumb shit.

>>2970415
0% in Germany if you hold more than 1 year
get cucked amerifats, Shaniqua needs more money L O L

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>>2970543
>>2970571
>>2970586
>getting feed for not spending your money
Who has the most competitive fees on a freakin pre-paid card?

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I've written a FIFO gains calculator, reading in json data, and will put it on git and discuss it on my youtube channel, if anyone is interested (Nikolaj-K)
I'll also be doing a series explaining the common price indices on exchanges

>>2970548
Germany considers crypto currency neither as a currency, nor a stock. If you hold for more than a year, sale is completely tax free.

>>2970616
I recommend putting it in a website along with your wallet address because it will likely get way more usage.

>>2970614
>fee to add cash
>fee to remove cash
>fee to not use added cash
what a great offer!

>>2970415
I've traded over $10,000 at BTC-e in the past. Will they (((seize))) all my money if I report this for using a "money laundering website for criminals".

>>2970640
Probably. They want money if you win money on a slot machine too. Even if you gamble with income that has already been taxed. Do they share any of the risks? No. Is your income tax paid for by your winnings? Nah. You have to pay in addition to your income tax. Just saying. They are greedy.

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>>2970636
I actually do have some meme web pages, but I'm actually somewhat serious with the channel and will not do it alone. The math finance student is actually a grl, I hope this makes for subscriber gainz

http://blockchain-technology.appspot.com

http://bitcoin-ethereum.appspot.com
Youtube links should be on both somewhere

I heard some nightmare scenario where americans have to pay tax on every single trade. is this FUD?

>>2970726
Only need to pay tax when you cash out. However the IRS wants to EXACTLY how much you made through all trades. Even coin-to-coin needs to be recorded

>>2970415
Why would you pay taxes on your own labour?
Are you a fucking socialist or something?

>>2970751
Don't let Trump see you traded ImpeachCoin
Don't let Pence see you traded GayCoin

>>2970677
I'm not talking about taxes. I'm fine with paying taxes, but the FBI, DOJ, IRS, and media paints all users of BTC-e as being criminals.

>>2970751
It's not only when you cash out. You could make gains only trading alts, and they expect you to pay taxes based on the fair market value of the trades in USD.

>>2970857
The issue with that is there are so many spam trade bots, all they do is put sell and buy orders for 1 cent a piece. The IRS cannot possible expect folks to file gains on 1 cent or loss on 1 cent trades. Most people are incapable of doing this type of accounting, and if they were to hand it over to the agents to look over themselves, that would take months of time for a single person. A massive waste of resources.

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>>2971058
>The IRS cannot possible expect folks to file gains on 1 cent or loss on 1 cent trades

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AAAAAAAAAAHAHHAHAHAHAHAHAH

ITT: enslaved dumb retarded cucked amerigoy faggots

Land of the free

HAHAHAHAH

I would seriously kill myself if I had the curse of being born a fuckin amerigoy degen. HAHAHHH

PAY UP GOY FAGGOTS

10 million per day

PAY THE TAX GOY FAGGOT


AHAHAHAHAHAHHHAHAAHAHAHAHAH GREATEST NATION HAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA

AAAAAAAAAAAAAAHAHAHAHAHAHAHA

who the fuck is dumb enough to cash out into fiat lol

>>2971058

So how do people who do pay their taxes deal with this? I've heard people tell me they just buy BTC, trade some alts, sell for BTC then sell for cash and record what they bought for BTC and sell it for and that's it. Why does it work for them even though the rules say to record all trades?

>>2970751
>Only need to pay tax when you cash out. However the IRS wants to EXACTLY how much you made through all trades. Even coin-to-coin needs to be recorded

Source, cause this seems like a meme. Pretty sure every trade is a tax event, exactly like buying and selling stock.

>>2971134

In some instances with spam trade bots, you do 10+ trades of 0.0001 cents gain and loss... How is that reasonable to expect a human to be able to calculate all of that? Makes more sense to bulk tax on gains across the board when it is cashed out.

I don't cash out.
I have never cashed out my gains and i'm just waiting maybe by the time i decide to sell the Tax Laws will be different and i won't have to pay anything :)

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>>2971134
>every trade is a tax event

AAAAAAAAAHAHAHA

YOU FUCKIN AMERICAN SCUM

AHHAHAHAHA YOU FUCKIN SLAVE GOYS you are so pathetic, the worst nation of this planet, fuckin consumerist enslaved jew-owned scum

I fuckin spit on you, it's a tax write off ahahahah

Kill yourself.

>>2970415
>tfw Korean
>tfw no taxes for cryptocurrency
>stay cucked amerifats

>>2971336

They really are the most pathetic nation on this planet, dumb, enslaved, kiked to the max, cucked to the max, fat, overrun by niggers and spics, ruled by jew rats...

How retarded do you have to be to be cursed (born in America) and decide to stay there once you get your drivers license.

Hahahahahhahaha. Spit on dumb stupid jewmerican scum goy, pay the Jew.R.S. faggots LMFAO hahahahahahahaha

Anyone give me a quick rundown on how Canada taxes crypto gains?

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> The U.S. is the only developed country that taxes based on citizenship rather than residence. This means that all U.S. citizens (and green card holders) are required to file U.S. taxes, wherever in the world they live, while other nations typically just tax people who live or earn within that country.

AAAAAAAAAAAAAAHAHAHAHAHAHAHAHHAHAHA

HAHHAHAHHHHAHAHAAHHAHAHHHAH

How is it even possible to be this enslaved and cucked AHHAHAHAHAHA theose jew rats really put these goyim burgers on a really tight leash ahahahahha

PATHETIC. KYS.

>>2971427

I'd like to know as well

this whole thread is retarded jesus christ

thank you for the hard reminder that I share a board with literal children

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>>2971430
it is funny!

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>taxes on burgerking tokens
Enjoy your freedom amerifaggots

>>2970540
What's ur job

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Jokes on you IRS. You treat bitcoins as assets. That means I can WRITE OFF all the money I'm losing! AHAHAHAHAHA

....

AAAAAAAAAAAAAAA

>>2971427
this

>>2971125
You forgot the ''EVERY SINGLE YEAR'' part, toothpaste

>>2970600
Missed kek

>>2971430
All true. But living in the US has it's advantages. Most consumer products are much cheaper and of higher quality here than the rest of the world so until the us dollar goes to shit, living in the US remains relatively comfy despite the shitty taxation and healthcare system.

t. 11 year immigrant

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>>2970415
>taxes
>he does not monthly withdraw below the tax threshold
why are you in a hurry? the lambo dealership isnt going anywhere

>>2970614

Prepaid debit cards are traps for poor people

Literally no reason for non retarded person to ever get one.

You're paying noseberg to use your own money for the same services you can get for free with a regular checking account

>>2971129
The IRS can't see if you traded alt coins.

FUD not young sprouts for the Lord hath a plan for his chosen coiners.

Beanland awaits us in the heavens above where no fagiteth tax collector dare tread.

Praise Bitbean.

>>2971388
>drivers license
So Canada or Mexico?

>>2971427
100% of gains go to your choice of either a local mosque or an LGBT youth center for helping toddlers begin they gender reassignment.

>>2971129
>>2974290
Chances are 95% the IRS will never find out about your trades on poloniex or bittrex or whatever. BUT there's a small change they could. If they're auditing you they can go to any exchange and make them hand over your trade history. They're also fighting in court to gain access on all US coinbase customer's files. There's no guarantee they will not over to other exchanges and do the same. I bet poloniex would hand it over without a fight. There's a risk the exchanges might get shut down by the FBI and get all their records seized too like with btc-e. When you make it to lamboland years down the road you'll always have the fear of this happening in the back of your mind. If they even see one trade that doesn't match their records they could come knocking on your door to audit and seize all your shit.

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>paying taxes
God Bless I'm not in a burgerland

>>2974641
If millionaire crypto-trading NEETS starts becoming a common, well known, phenomenon you can bet your ass they'll start going around exchanges with a microscope to make examples out of people.

What's the tax in Finland?

>>2970616
Nice leg

>>2970415

here in nz it's 0%.

Let that sink in americucks

>>2971117
>>2971276
>>2971388
>>2971430

Autism

>>2975960
Yeah, but I spend 0 dollars paying for other faggots healthcare

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>austfag
>only pay tax on cashing out more than 10k to fiat
>can cash out 9k a couple of times a year without drawing attention

>>2971430
Now I understand why I have worked with so many Germans, Brits, Greeks, Italians ect. but never a 'merican.
They would pay double tax if they worked here.

>>2976061
Australian edge tail doesn't even break the top 10 largest birds of prey

>>2976061
Isn't it awesome I get so sick of Amerifags constantly whining about how their government is constantly trying to fuck them the arse then not even pay for the medical bills associated with the rape

>>2970622
Just wait until Schäuble sees the Numbers.

>>2976061
Is that right? The ATO released a position statement saying all bitcoin transactions were subject to CGT.. is it really 10k?

>>2971126
Are you American? You still have to pay taxes on gains even if you never cash out.

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>>2977751
Law changed 1st of July, GST doesn't apply to purchases with crypto and CGT doesn't apply under 10k AUD.

>>2970449
can i use a bitcoin card to buy vidya on steam

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>>2970415
>be American
>get taxed on imaginary monopoly money
>get taxed when making like-like trades
>get taxed twice on cash out and through capital tax

>pay all the taxes
>your bank account goes up
>you made it
>yes, yes, very good anon, HOWEVER
>that means you're not in debt anymore
>you don't need more loans
>or credit cards
>or mortgages
>your credit rating goes down
>you now have to pay more on all your insurances and down payments beacause you dared to get out of debt
>be poor again soon

I used to think jew conspiracies were retarded, but it's hard to deny it when the USA are maybe the most cucked nation on the entire planet as far as personal finances are concerned
I mean, they live under an Orwellian points system that gives the illusion of "rewards" for being a slave to the loan jew, and actively punishes you for being financially indipendent

>>2970415
>gamble networth on risky assets
>lose it all, tough break/nobody cares
>turn a profit, owe a big slice to the state

This is only fair for some reason according to the left statists.

>>2977804
>you now have to pay more on all your insurances
Is this real? That is the most retarded thing I have ever heard.

>>2977821
If an American citizien frees himself from credit card debt, loans, mortgages and all kinds of debt for any significant amount of time, his credit rating goes down.
It means when when they buy a house/car/anything or they get insurance, their loans are calculated at a higher interest, and premiums are higher too.

The "credit rating" is sold to the public as "a revolutionary way to reward sensible financing!" but what it really does it force you to be in debt your whole life, because if you don't you're going to get raped when you inevitably need a loan down the line.
In any other country in the fucking Universe, credit trust is based on examining your finances, and seeing how many liquid funds you have, properties, LACK of debt in the past, and how likely you are to be able to pay your debt.

Meanwhile, in America, your worth as a debt slave is decided NOT by how likely you are to pay it back, but how likely you are of being shackled with it until you're dead.

>>2977825
Jesus, that is fucked up. Here having successfully paid off a loan is considered a good thing and if you have never had any debit proof of saving is just as good.

>>2977804
>get taxed twice on cash out and through capital tax

what?

>>2970761
It's not like we have a choice to pay taxes kid

>>2977825
We in the UK have the same system, called a credit score.
If you (like me) have never had a loan or finance on a purchase, you never gain a credit rating. I can't get a mortgage because I have a very bad credit rating (but £90k in the bank).

Work that shit out.

>>2978287
What is it with anglos and having the worst personal freedoms in the civilized world, despite touting their "FREEDOM!" all the time?

The obligation to pay taxes is only when you cash out right?

>>2978296
>>2978296
We are free to do what we are told, or we can leave.

>>2978303
Nope, all profits including those between different cryptos count

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>>2978325
>You can treat crypto as like-like transactions in 194/196 countries of the world
>but not America

>>2970500
per year or per month ?

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>>2978345
Per MINUTE

>>2970616
you took the salmon off and just ate cream cheese on toast? You know I'm actually coming to kill you, right?

I just wrote a helpful post about this

>>2978705
>>2978705
>>2978705
>>2978705

So in Australia as long as i take out under 10k at a time and space it out then i won't get (((taxed)))

>>2979166
Couple of times a year is fine but if you do 9999 monthly they are going to look at you. The best trick is to make the amount look like the price of something rather than a round number, round numbers stand out.

>>2971336
>tfw not korean
>stay cucked koreans

>>2971728
Wait, so you could write of all the money you lose on my taxes, and not report all the money you gain, so that there is literally no risk in trading crypto???

>>2977804
it's because of poor people, black people, retards, and mexicans (seriously)

the US was once like 60% german and was the best place on earth, now it's barely 60% white

we are fucked

>>2974183
this is called scheduling and you will get fucked big time if caught

>>2970500
You serious anon? Im from Italy too and my "commercialista" told me i should pay capital gains taxes (plusvalore)...where did you get the info?

>>2979740
Tell me some stories about the mafia.

Does anyone know what cost basis I am supposed to use when selling fractional amounts of crypto in the UK? Most examples I seem to find seem to either deal with shares (which have different rules), or whole assets...

>>2979804
Im on my phone so it would take too much time to write... Read the book (or watch the movie) "Gomorra" theres some insane shit in there