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Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 41. (Read 77417 times)

legendary
Activity: 1946
Merit: 1137
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!
because not all bitcoin users live in the US. the tax laws are different in different countries, so holding bitcoin can make you a millionaire (not that i think it will though).
legendary
Activity: 1473
Merit: 1086
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

In Germany you don't have to pay any taxes on your profits if you hold your currency(bitcoin) for more than 12 months.
hero member
Activity: 1022
Merit: 500
To be honest, I don't think bitcoin is "the one"

Anything that markets itself as "the future", most of the time, it isn't.

Google and Facebook did and succeeded.
legendary
Activity: 1652
Merit: 1057
bigtimespaghetti.com
To be honest, I don't think bitcoin is "the one"

Anything that markets itself as "the future", most of the time, it isn't.

I agree Patel. There is an awful lot of rhetoric surrounding the use of bitcoin which is not based in reality.

That is not to say that I am not an advocate. But wider adoption of bitcoin encounters problems that are common not to just technology, but human society- idealism, ignorance, greed, corruption and regulation to name just a few. IMO there is nor will there ever be a perfect system, only a web of varying degrees of freedom or control and the ever fluctuating culture of different countries and how they react or are manipulated into reacting.
legendary
Activity: 1321
Merit: 1007
To be honest, I don't think bitcoin is "the one"

Anything that markets itself as "the future", most of the time, it isn't.
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

I won't cash out.  I'll just spend my bitcoins.

In the US at least they'll still want their cut of your gains if you spend rather than trade them. How they find that out is another matter though.
member
Activity: 65
Merit: 10
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

I won't cash out.  I'll just spend my bitcoins.
hero member
Activity: 616
Merit: 500
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

don't cash out all at once or go to a place where btc taxes are fair?

or call Saul to solve it for you for a smaller fee?
hero member
Activity: 788
Merit: 1000
What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!
legendary
Activity: 1204
Merit: 1028
No one knows. But my belief is that if Bitcoin survives it will be worth more than it is now. I truly have no idea how much that might be though.
We are talking 5 figures for sure if we keep gaining traction in terms of transactions and adoption rate, we must engulf all electronic mone transactions and make VISA and friends obsolete.
legendary
Activity: 1652
Merit: 1057
bigtimespaghetti.com
No one knows. But my belief is that if Bitcoin survives it will be worth more than it is now. I truly have no idea how much that might be though.
legendary
Activity: 3794
Merit: 1030
The Best Tipster on the Forum!!
lol to wait 5 more years to see a big pump,hardly
as the current price i dont see any future in bitcoin maybe if they price was 1000$/btc i could see some future in reaching the 10k$/btc

i wish you luck but it will be hard
legendary
Activity: 1442
Merit: 1186
Its hard to gauge whats going to happen. If remember correctly, BTC was around $1,000 USD around this time last year. Always a wild ride!

Price was 600ish this time last year.
Here's a fun tool: http://oneyearbitcoin.info/
member
Activity: 98
Merit: 10
Its hard to gauge whats going to happen. If remember correctly, BTC was around $1,000 USD around this time last year. Always a wild ride!
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
best of luck holding on to 100 btc riding the waves to 10k (if we ever get there).

exactly this.

Yeah this is the real challange Smiley  I bet may people sold when BTC was 1, 10, 100 dollars Smiley

There's a lot more track record and expectations are that much higher than those days though. All you need is no money worries and some boneheaded optimism.
legendary
Activity: 1284
Merit: 1042
best of luck holding on to 100 btc riding the waves to 10k (if we ever get there).

exactly this.

Yeah this is the real challange Smiley  I bet may people sold when BTC was 1, 10, 100 dollars Smiley
legendary
Activity: 2576
Merit: 1087
best of luck holding on to 100 btc riding the waves to 10k (if we ever get there).

exactly this.
hero member
Activity: 490
Merit: 500
Yeah, you're lucky if you manage to survive without selling any!
full member
Activity: 328
Merit: 100
best of luck holding on to 100 btc riding the waves to 10k (if we ever get there).
sr. member
Activity: 470
Merit: 250
I think the trend suggests you will not be. 5 years is short term for this tech.
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