(Parody?) Elmer FUD: You MUST read this if you are holding any Bitcoins!!!

Beliathon

hero member

Activity: 784

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https://youtu.be/PZm8TTLR2NU

Quote from: Bit_Happy on June 22, 2015, 04:00:47 PM

Can I buy Elmer's glue with Bitcoins, and what happens when I do?

If I am an American taxpayer, then I just traded "property" for a small bottle of white glue, and now I have to track and report the "capital gains" on my huge pile of Magic Internet Money, and when America successfully spreads their special form of "freedom" throughout the whole world, then everyone will have to report capital gains for even the smallest transactions, and people will see that Bitcoins are useless, and the world will find great value in the "Blockchain technology", but not BTC as money, and China will finally break Bitcoins' neck with a hard ban, not this "soft ban" that seems to have the worlds largest mining farms growing throughout the Red Empire, and once BTC falls to ZERO you will not be able to get even 20 cents for your "digital gold".

Now do you understand why Bitcoin is/was and always will be, just a silly toy for "libertarians" and wanna-be economic terrorists? Tongue

QuestionAuthority

legendary

Activity: 2156

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You lead and I'll watch you walk away.

Quote from: PenguinFire on June 23, 2015, 01:22:11 AM

Quote from: QuestionAuthority on June 22, 2015, 04:46:15 PM

Wouldn't it have been easier to just say America Sucks in bold print?

America sucks? Is that why 100s of thousands immigrate to The United States for a better life. Sure, America has its problem but so does any country. I personally am very grateful to be a citizen of this fine county.

Also, funny use of words OP. Cheesy

It seems like OP is saying America sucks to me.

One million people immigrate to the U.S. each year. On average 2.25 million people are incarcerated in the U.S. and about a half million are deported. Maybe immigrants are being jailed or deported? lol

You don't travel much do you?

America is the finest country anyone ever stole. ~Bobcat Goldthwaite

Meuh6879

legendary

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Merit: 1012

Quote from: Kprawn on June 23, 2015, 01:21:10 AM

Governments and FUD spreaders are talking down Bitcoin, but at the same time, they cash in on the Tax and Capital gains.

This.

scarsbergholden

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Activity: 686

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Quote from: Possum577 on June 23, 2015, 08:45:00 AM

Parody or not, it's a good discussion to have.

This reality you propose is just more reason to keep involvement in Bitcoin in bitcoin. As the market grows fiat becomes less relevant once one has some bitcoin to use for their purchases.

Think of this example, If you sold your car last year for cash did you report that sale on your income tax return? I didn't think so...

Actually its parody or not, do we want this tax law makers that dont know anything about bitcoin, they just want to tax the new comer that adopted bitcoin early to tax him has much possible to make him feel he still has no control over his life.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Parody or not, it's a good discussion to have.

This reality you propose is just more reason to keep involvement in Bitcoin in bitcoin. As the market grows fiat becomes less relevant once one has some bitcoin to use for their purchases.

Think of this example, If you sold your car last year for cash did you report that sale on your income tax return? I didn't think so...

jonald_fyookball

legendary

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Core dev leaves me neg feedback #abuse #political

The OP is actually technically correct about the tax law, however,
there's at least one wallet software that ALREADY tracks your capital gains for you, based
on price fluctuation, should you wish to report that to the IRS.

johnyj

legendary

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Merit: 1012

Beyond Imagination

Quote from: H.W.Z on June 22, 2015, 11:44:18 PM

Many countries eliminates VAT For Bitcoin Transactions, like UK, Switzerland etc. It implies bitcoin is seen a payment method, not property any more by more and more countries. Although they haven't recognized bitcoin as currency yet. If some countries are still charging "capital gain" from Bitcoin, it will impact the development of bitcoin there. Business will remove from there, ppl will be reluctant to hold this useless internet money.

Even if you trade foreign currencies, you still need to pay capital gain tax

Herbert2020

legendary

Activity: 1946

Merit: 1137

mostly i can see these kinds of stuff from brand new users with 0 activities. but to see this from a legendary member...
what has happened to the community ...

lockshop11

newbie

Activity: 31

Merit: 0

Quote from: amiryaqot on June 23, 2015, 03:37:14 AM

well that thread is like a joke and OP tried to make it more funny and good to read that kind of stuff when someone feeling stress and need a funny thing than i am sure this post will help him to get relax by reading this thread, i don't care about this FUD because i don't think OP is serious by saying this or maybe he was drunk to post it.

cant not understand a Legendary member is spreading fud here! He should be one of the early bitcoin adopters and hold many bitcoin! But he is spreading the rumors. Probably he is trying to lower the buy and buy more!

elisa9825

newbie

Activity: 36

Merit: 0

Quote from: Kprawn on June 23, 2015, 01:21:10 AM

I think what he is saying is.... Governments and FUD spreaders are talking down Bitcoin, but at the same time, they cash in on the Tax and Capital gains.

The Chinese are saying, they are banning Bitcoin, but at the same time, their citizens are building the strongest Bitcoin mining operations in the world.

People are saying one thing and doing the exact oposite. If Bitcoin was only a toy for Libetarians... Why are Banks interrested and Why are millions of dollars being pumped into VC investments?

That is my take on this. Wink

According my knowledge, Chinese gov is just soft banning bitcoin and giving out warning of the potential risks associated with bitcoin. They didn't made some legislations to ban the bitcoin like Russia.
Chinese ppl are just attracted by the profits generated from bitcoin mining.
Off course bitcoin has a lot of potential and already attract a lot of VC.

amiryaqot

legendary

Activity: 1050

Merit: 1000

well that thread is like a joke and OP tried to make it more funny and good to read that kind of stuff when someone feeling stress and need a funny thing than i am sure this post will help him to get relax by reading this thread, i don't care about this FUD because i don't think OP is serious by saying this or maybe he was drunk to post it.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Kakmakr on June 23, 2015, 03:26:32 AM

Quote from: S4VV4S on June 23, 2015, 02:54:12 AM

Funny, much funny Cheesy

I have one question though: Why would everyone (or anyone for that matter) in the whole world report capital gains to the U.S. government?

Well if you decide not to do it, the IRS will hunt you down and seize your assets.
Are you saying it's not necessary to report capital gains in the USA? Elmer Fudge strikes again. Huh

I did not realize that the IRS was a worldwide organization. I wonder if Kim Jong Un gets pissed every time he has to file his US income taxes.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Quote from: S4VV4S on June 23, 2015, 02:54:12 AM

Funny, much funny Cheesy

I have one question though: Why would everyone (or anyone for that matter) in the whole world report capital gains to the U.S. government?

Well if you decide not to do it, the IRS will hunt you down and seize your assets.
Are you saying it's not necessary to report capital gains in the USA? Elmer Fudge strikes again. Huh

ammy009

sr. member

Activity: 304

Merit: 250

PUSS Lover

really ? Do you believe it ? then sell your bitcoins to me. I offer 40 cents (doubled you suggested 20 cents) ..........
Grin

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Bit_Happy on June 22, 2015, 04:00:47 PM

If I am an American taxpayer, then I just traded "property" for a small bottle of white glue, and now I have to track and report the "capital gains" on my huge pile of Magic Internet Money, and when America successfully spreads their special form of "freedom" throughout the whole world, then everyone will have to report capital gains for even the smallest transactions, and people will see that Bitcoins are useless, and the world will find great value in the "Blockchain technology", but not BTC as money, and China will finally break Bitcoins' neck with a hard ban, not this "soft ban" that seems to have the worlds largest mining farms growing throughout the Red Empire, and once BTC falls to ZERO you will not be able to get even 20 cents for your "digital gold".

I think I found your problem...

Gleb Gamow

vip

Activity: 1428

Merit: 1145

Quote from: Bit_Happy on June 22, 2015, 04:00:47 PM

Can I buy Elmer's glue with Bitcoins, and what happens when I do?

If I am an American taxpayer, then I just traded "property" for a small bottle of white glue, and now I have to track and report the "capital gains" on my huge pile of Magic Internet Money, and when America successfully spreads their special form of "freedom" throughout the whole world, then everyone will have to report capital gains for even the smallest transactions, and people will see that Bitcoins are useless, and the world will find great value in the "Blockchain technology", but not BTC as money, and China will finally break Bitcoins' neck with a hard ban, not this "soft ban" that seems to have the worlds largest mining farms growing throughout the Red Empire, and once BTC falls to ZERO you will not be able to get even 20 cents for your "digital gold".

Now do you understand why Bitcoin is/was and always will be, just a silly toy for "libertarians" and wanna-be economic terrorists? Tongue

...or maybe I am missing something and Bitcoin is still an exciting project?

I'm goin' give you credit for crafting a well-constructed sentence. It was a pleasure to read, whereas most of great lengths seem overburden.

S4VV4S

hero member

Activity: 1582

Merit: 502

Funny, much funny Cheesy

I have one question though: Why would everyone (or anyone for that matter) in the whole world report capital gains to the U.S. government?

Acidyo

hero member

Activity: 588

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Will Bitcoin Rise Again to $60,000?

This OP is absolutely ridiculous. lol Just shows how closed minded he is from the real picture. Please, carry on...give me more laughs to wake up to tomorrow. Roll Eyes

PenguinFire

full member

Activity: 154

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That Darn Cat

Quote from: QuestionAuthority on June 22, 2015, 04:46:15 PM

Wouldn't it have been easier to just say America Sucks in bold print?

America sucks? Is that why 100s of thousands immigrate to The United States for a better life. Sure, America has its problem but so does any country. I personally am very grateful to be a citizen of this fine county.

Also, funny use of words OP. Cheesy

Kprawn

legendary

Activity: 1904

Merit: 1074

I think what he is saying is.... Governments and FUD spreaders are talking down Bitcoin, but at the same time, they cash in on the Tax and Capital gains.

The Chinese are saying, they are banning Bitcoin, but at the same time, their citizens are building the strongest Bitcoin mining operations in the world.

People are saying one thing and doing the exact oposite. If Bitcoin was only a toy for Libetarians... Why are Banks interrested and Why are millions of dollars being pumped into VC investments?

That is my take on this. Wink

Topic: (Parody?) Elmer FUD: You MUST read this if you are holding any Bitcoins!!! (Read 1513 times)