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Topic: What do you tell people who ask "how much bitcoin do you have?" (Read 4248 times)

sr. member
Activity: 520
Merit: 253
555
...i am working for fun nowdays Grin

At the end of last year, I quit work and went back to university to study a little more math. I like having something simple and official to answer when people ask me what I do. It's weird how people expect to define yourself on the basis of what kind of slavery you choose in order to fulfill your physical needs, while the true self is probably engaged in a multitude of completely different interests.

It's funny, at the time I didn't expect such events with Bitcoin and the Euro. I was tired of my work, and I thought I'd enjoy a year or two of student life on my savings, while actually building on my professional qualifications. Now it might be a few more years...
legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money
full member
Activity: 154
Merit: 100
I have never understood why people think it is such a taboo to talk about ones net worth or salary.

If the other guy makes twice as much as you its pretty humiliating, unless you have no shame or pride.

It helps people stay in class  Wink
hero member
Activity: 607
Merit: 500
...i am working for fun nowdays Grin
they will understand  Cheesy
full member
Activity: 129
Merit: 100
I tell them I don't need to worry about money until after residency. And if bitcoin really takes off, maybe several dozen more years after that.

Not exactly, they might feel weird about having more money to spend but I wouldn't feel weird.  However, the follow on question is "how can I make that much money?" asking for advice, etc. and of course the only answer is a time machine.  And that sounds rude Smiley
sr. member
Activity: 448
Merit: 251
Bitcoin
I say. I have 5000 bitcoins...
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...
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2000 in instawallet
2000 in torwallet
1000 in btcst

(all respect to Paytunia. I trust their honesty but they still got hacked)

honestly that's my issue as well...  I most likely had about 2000 bitcoins stolen from me over the past 2 - 3 years...  mybitcoin (I never got my 49% back) and various other crap.
newbie
Activity: 46
Merit: 0
Tell them the same thing you would say if they asked how much cash you have in the bank, "none of your fucking business!"

Could not agree more.
legendary
Activity: 4270
Merit: 1313
You hit the nail on the head:
1. People asking, "hey, can you help me with X?"
2. Worrying about the whole kidnapping of members of the family.

You want people to like you for YOU, not for what you can do for them.

I always say, "not enough".


I have never understood why people think it is such a taboo to talk about ones net worth or salary.

I think many people are jealous, and if you told them you had a million dollars, they'd view you differently and expect you to pay for everything 'since you're rich'.

If you have a couple grands, that's not special. But once you have a lot of money, people around you start behaving differently.
legendary
Activity: 1358
Merit: 1000
just say you have a few satoshi
legendary
Activity: 1001
Merit: 1005
I say. I have 5000 bitcoins...
...
...
...
...
...
2000 in instawallet
2000 in torwallet
1000 in btcst

(all respect to Paytunia. I trust their honesty but they still got hacked)
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
How much did you get?

30 pieces. of silver.


How does that sound?
hero member
Activity: 784
Merit: 1000
OMG John, I didn't know you have got a job with the (name of the taxing authority)! Congratulations, wanna treat me to a drink? Cheesy
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
With all the news coverage over the last month I have had countless people ask me. Most normal people can't really say "just over a million dollars worth if i cashed out" without some repercussions.

I wonder what some of you early adopters say to these people.

I suggest you tell people that you have a ton of coins, safely stored in...Instawallet. Grin


I always tell the truth. Not enough.
hero member
Activity: 588
Merit: 500
With all the news coverage over the last month I have had countless people ask me. Most normal people can't really say "just over a million dollars worth if i cashed out" without some repercussions.

I wonder what some of you early adopters say to these people.

I suggest you tell people that you have a ton of coins, safely stored in...Instawallet. Grin

sr. member
Activity: 448
Merit: 250
Changing avatars is currently not possible.
I have never understood why people think it is such a taboo to talk about ones net worth or salary.
People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

People will beg you to give them money because they're poor and "you can afford it," or because their church needs renovations, or something else. Just kill me, take my money, and get it over with already.

Winning the lottery sounds great too until all those fourth uncles on your mothers side start crawling out of the woodwork looking for a handout.

Don't tell anyone what you have unless you're willing to hurt them to defend it. Money makes good people do dumb things.

Good people, no.  People who fooled you into thinking they were good.
legendary
Activity: 2660
Merit: 1023
People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

This.  I don't mind revealing how much fiat I have (paycheck to paycheck; no more than $2k at any point in time,) but when it comes to BTC, and how much I value that BTC, as far as anyone's concerned, I don't have any.  At least not on this computer, or any other computer that may or may not exist.  Also, it's easy to steal BTC; you can do it anonymously, over the Internet, without any repercussion.


I wish I had bitcoins.....but I got in to late....so I just use them for currency....!
hero member
Activity: 609
Merit: 506
Not to mention that if the number is particularly large, even if you aren't facing kidnapping for ransom or similar situations, loose lips could incline some bastard to rat you out to the IRS just to screw with you.  Even if you are honest on your taxes and pay what you think is appropriate, what is the proper metric for taxes for BTC that appreciate in value?  Do you owe the taxes at the time you convert to fiat or at the time you earn it?  Are they short-term capital gains taxes or something else? 

I'm no accountant, but I believe the rules on this (in the U.S.) are quite clear. When you sell your bitcoin for fiat, that's the taxable event. At that point, you need to specify a cost basis and determine your income. short or long term depends on how long you've held the coin.
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
I lost most of it on online gambling. Don't tell them about the paper wallet, stored in a sealed envelope.
donator
Activity: 294
Merit: 250
4,816.

I'm not what most consider an early adapter, I bought in last summer at ~ $13. However, in reality even those who just heard of Bitcoin for the first time today are still early adapters. Wait until it really catches on.

People searching for the latest altcoin and/or saying BTC mining is "not as profitable as others" are missing the point. Those who mined the first few hundred thousand Bitcoins were mining at a loss, according to the method we currently use to calculate profitability. There is one digital currency that will soon be the standard for online transactions, and this forum is named after it.
newbie
Activity: 56
Merit: 0
I have never understood why people think it is such a taboo to talk about ones net worth or salary.
People might kill and/or rob you for your money if times are bad and you are not popular.

So it makes sense to be quiet about what you have at times.

People will beg you to give them money because they're poor and "you can afford it," or because their church needs renovations, or something else. Just kill me, take my money, and get it over with already.

Winning the lottery sounds great too until all those fourth uncles on your mothers side start crawling out of the woodwork looking for a handout.

Don't tell anyone what you have unless you're willing to hurt them to defend it. Money makes good people do dumb things.
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