I'm wondering the same. If you are making a living (or did for several years) I wonder how you've been handling taxes. What a pain that must be, trying to prove at what price you bought BTC or other currencies, because there is not the paperwork on the exchanges like you'd get on TD Ameritrade or Schwab.
I have reported my BTC and Altcoin earnings for the last two years, i think its pretty easy. Just notate the date you bought them on and the date you sold them on... and if you have not sold then notate the current price.. My CPA handles them similar to stock shares. Has worked well so far *fingers crossed*
Alot of us bought BTC when they were *cheap* and been holding them since. Hoping they will keep climbing in value. And at the same time many altcoins rise and fall, people buying low and selling high, or even shorting BTC on sites like Bitfinex... Or mining new coins and then dump them as soon as they hit the market. There are also many securities out there to invest in like ASICMINER and HAVELOCK and now some mutual fund types investing in many altcoins, bitcoin and shares in crypto companies.
I am not talking soo much about Pool operators, or people with massive ASIC/FPGA/GPU/Rent-A-Server Farms, nor people that are just hodling. Looking for people invested in buying, holding and selling coins short / semi long term and or buying securities in groups that mine and give out dividends on their output.
With all these options out there, to invest in. Where you can possibly get a monthly, annual dividends, or as stated trade on the exchanges. Has anyone made this their full time job and been successful at it?
Certain names come to mind like Chris Dunn and Johnny Roquemore.
I think there must be some people, as you could buy a bitcoin for 0.07$ in the past.
So it was easy to get say 2000 BTC which at current price would be worth one million dollar.
I am a holder of btc as well, but as you stated that is very long term investments. You would have to hold for years to get that kind of return. But this is not the kind of investing i am talking about, i am talking about buying when a coin is low and then selling a couple days, weeks months later when it reaches new heights. I am curious how successful people have been selling coins being alt or otherwise on the dips and rises. The only long term investments i am talking about for passive income would be as stated ASICMINER or some other share type investment.
there was a case here in the forum of someone who made more than 100k(he didn't sell), and then was arrested or something, o don't remember the full story though
100k just holding BTC? or are we talking about some other coin?
