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Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
was it amazon itself or just the ether wallet site

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Uranium 235
Oct 12, 2004

NASDAQ says they are open to adding cryptocurrency to their exchange if the space matures, but would need to see additional regulation

https://www.cnbc.com/amp/2018/04/25/nasdaq-is-open-to-becoming-cryptocurrency-exchange-ceo-says.html

Burt Sexual
Jan 26, 2006

by Jeffrey of YOSPOS
Switchblade Switcharoo
1000 point drop in 24hrs, nbd really.

mp5
Jan 1, 2005

Stroke of luck!

Hey so has bitcoin crashed yet? The Nvidia 1100s are coming out in July and I really don't want to have to pay 1000 bucks for a new card

The Duchess Smackarse
May 8, 2012

by Lowtax

mp5 posted:

Hey so has bitcoin crashed yet? The Nvidia 1100s are coming out in July and I really don't want to have to pay 1000 bucks for a new card

Get an xbone

Papa Was A Video Toaster
Jan 9, 2011





Jimmy Hats posted:

Get an xbone

Still has the wrong kind of RAM.

I would blow Dane Cook
Dec 26, 2008
https://twitter.com/cwarzel/status/989228416686743552

Decius
Oct 14, 2005

Ramrod XTreme

mp5 posted:

Hey so has bitcoin crashed yet? The Nvidia 1100s are coming out in July and I really don't want to have to pay 1000 bucks for a new card

Even without Buttcoin Nvidia would fleece you for 1000 bucks if you look at the price jump between the 980 and the 1080 at their respective launches (more than 30 % price increase). They have a de-facto monopoly for the high-end cards, and they abuse it as much as they can.

QuarkJets
Sep 8, 2008

lol

I wonder if people who put cryptocurrency on their taxes have been so likely to commit tax fraud in prior years that now it triggers a red flag right away:

quote:

Warning: IRS Giving Hell!! Over Bitcoin (self.Bitcoin)
submitted an hour ago by DimeInPieces

If you have not yet filed your taxes or are thinking about filing in the future: beware reporting bitcoin!

First off, I was prepared for this, but my modest bitcoin gains negated any refund I had for all of 2017

Not only that but I’m now being treated like a criminal by the IRS. I’m having to provide documentation of all my income for the last 2 years and present it in person 60 miles away.

I wish I would have not reported my bitcoin gains and dealt with the repurcussions later. I didn’t even gain that much (maybe $4000) and it negated a $3500 refund AND is holding everything up while people act like Dwight with me on the phone.

Ugh thanks for letting me vent

a_gelatinous_cube
Feb 13, 2005

mp5 posted:

Hey so has bitcoin crashed yet? The Nvidia 1100s are coming out in July and I really don't want to have to pay 1000 bucks for a new card

I just decided I'm going to buy a gaming laptop instead of upgrading my computer because they aren't that more expensive then just buying a single loving graphics card at this point.

numberoneposter
Feb 19, 2014

How much do I cum? The answer might surprise you!

Zyklon B Zombie posted:

I just decided I'm going to buy a gaming laptop instead of upgrading my computer because they aren't that more expensive then just buying a single loving graphics card at this point.
just LOL if you arnt still using a ten year old Q9550

Alpha Mayo
Jan 15, 2007
hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~
lol this entire crypto reversal has been a Tether pump and the Bank of Tether has blown through about half of it trying to encourage a FOMO pump, 155 mil left.

Shinjobi
Jul 10, 2008


Gravy Boat 2k
I want the bitcoins to spontaneously combust

junan_paalla
Dec 29, 2009

Seriously, do drugs

quote:

EVERY MORNING I WAKE UP AND OPEN PALM SLAM A WHITEPAPER INTO THE SLOT. IT’S THE BITCOIN WHITEPAPER AND RIGHT THEN AND THERE I START DOING THE MOVES ALONGSIDE WITH THE MAIN CHARACTER, SATOSHI. I DO EVERY MOVE AND I DO EVERY MOVE HARD. MAKIN WHOOSHING SOUNDS WHEN I SLAM DOWN SOME NOCOIN BASTARDS OR EVEN WHEN I SFYL. NOT MANY CAN SAY THEY ESCAPED THE WORLDS MOST CORRUPT BANKING SYSTEM. I CAN. I SAY IT AND I SAY IT OUTLOUD EVERYDAY TO PEOPLE IN MY COLLEGE CLASS AND ALL THEY DO IS PROVE PEOPLE IN COLLEGE CLASS CAN STILL BE IMMATURE JEKRS. AND IVE LEARNED ALL THE WORDS AND IVE LEARNED HOW TO MAKE MYSELF AND MY APARTMENT LESS LONELY BY SHOUTING EM ALL. 2 HOURS INCLUDING WIND DOWN EVERY MORNIng

ThndrShk2k
Nov 3, 2009

by Nyc_Tattoo
Bread Liar

QuarkJets posted:

lol

I wonder if people who put cryptocurrency on their taxes have been so likely to commit tax fraud in prior years that now it triggers a red flag right away:
I think it may be more of that if they suddenly have bitcoin this year, they had it previous years and it went unreported.

zedprime
Jun 9, 2007

yospos
It's not even really Bitcoin probably, the beaurocratic wheels don't turn that fast.

The IRS has a list of high risk of defrauding decisions on a tax return that they find worthwhile to audit. Short term capital gains outside a large stock market would make sense to throw in this bucket.

Also why you don't deduct a home office unless you have a personal accountant cause that will similarly get you audited.

E. Also that's not how capital gains work.

Sten Freak
Sep 10, 2008

Despite all of these shortcomings, the Sten still has a long track record of shooting people right in the face.
College Slice
Yes, it's not the buying but the selling which creates a taxable event.

In the case of crypto any trade or use generates a taxable event. It's not a currency.

quote:

For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.

So, buy anything with bitcoin you owe capital gains taxes.

Trade for another coin same.

Sell it, same.

Of course owing tax means you made a profit. Selling at a loss or paying for something at a rate that is lower than what you paid for the coin would be a loss.

E: Here's the IRS publication on it:
https://www.irs.gov/pub/irs-drop/n-14-21.pdf

Vapor Moon
Feb 24, 2010

Neato!
The Human Font
A coworker is seriously considering extending his mortgage to buy another 4 bitcoins.
He already has 2 Antminer S9's running in his house.

Papa Was A Video Toaster
Jan 9, 2011





FillInTheBlank posted:

A coworker is seriously considering extending his mortgage to buy another 4 bitcoins.
He already has 2 Antminer S9's running in his house.

Imma lol when he burns his house down and still owes 30 years of mortgage payments.

numberoneposter
Feb 19, 2014

How much do I cum? The answer might surprise you!

is now a good time to buy?

Papa Was A Video Toaster
Jan 9, 2011





numberoneposter posted:

is now a good time to buy?

It's currently on sale, so no.

numberoneposter
Feb 19, 2014

How much do I cum? The answer might surprise you!

TVsVeryOwn posted:

It's currently on sale, so no.
ok...how about NOW!

klafbang
Nov 18, 2009
Clapping Larry
I just received 3 genuine bitcoins I ordered from AliExpress.



They are made of real gold, real silver, and real bronze (at least, I'm 99% certain that's what it is even if the listing would disagree). The transaction time was a mere 8 days and including transaction costs, I paid under €6 for them.

They are in every way better than those silly computer bitcoins. There's, unfortunately, no chocolate inside.

Plus, I can shove them up my butt where they belong.

QuarkJets
Sep 8, 2008

Please do not put gold coins in your butt, thousands die every year from leprechauns tearing open their abdomen trying to get at the gold; don't be a statistic

Fur20
Nov 14, 2007

すご▞い!
君は働か░い
フ▙▓ズなんだね!

QuarkJets posted:

Please do not put gold coins in your butt, thousands die every year from leprechauns tearing open their abdomen trying to get at the gold; don't be a statistic

this is fake news. more leprechauns die every year of suffocation trying to get at the gold, than people die every year of leprechaun disembowelment

feedmegin
Jul 30, 2008

klafbang posted:

I just received 3 genuine bitcoins I ordered from AliExpress.



They are made of real gold, real silver, and real bronze (at least, I'm 99% certain that's what it is even if the listing would disagree). The transaction time was a mere 8 days and including transaction costs, I paid under €6 for them.

They are in every way better than those silly computer bitcoins. There's, unfortunately, no chocolate inside.

Plus, I can shove them up my butt where they belong.

At that price, plated with not made of :shobon:

divabot
Jun 17, 2015

A polite little mouse!
Don't do smart contracts, fool!

Ham Sandwiches
Jul 7, 2000

Thoughts on Finance from your local Yospos crew, wrong about crypto in every single way for a year+ but still going strong lmao

zaurg
Mar 1, 2004

Ham Sandwiches posted:

Thoughts on Finance from your local Yospos crew, wrong about crypto in every single way for a year+ but still going strong lmao

Yeah but one day they'll be right and Bitcoin will crash again

Decrepus
May 21, 2008

In the end, his dominion did not touch a single poster.


QuarkJets posted:

lol

I wonder if people who put cryptocurrency on their taxes have been so likely to commit tax fraud in prior years that now it triggers a red flag right away:

Bitcoiner posted:

I wish I would have not reported my bitcoin gains and dealt with the repurcussions later. I didn’t even gain that much (maybe $4000) and it negated a $3500 refund AND is holding everything up while people act like Dwight with me on the phone.

Suuure

QuarkJets
Sep 8, 2008

Ham Sandwiches posted:

Thoughts on Finance from your local Yospos crew, wrong about crypto in every single way for a year+ but still going strong lmao

Oh the price has gone up so thread dunce Ham Sandwiches is here to gloat at people who never cared about the price in the first place

Bro cryptocurrency has always been and continues to be funny and your inability to comprehend the humor doesn't change that

Harveygod
Jan 4, 2014

YEEAAH HEH HEH HEEEHH

YOU KNOW WHAT I'M SAYIN

THIS TRASH WAR AIN'T GONNA SOLVE ITSELF YA KNOW

Lol if you're too poor to be in the 87.5% marginal tax bracket that totally exists.

Harveygod fucked around with this message at 02:18 on Apr 27, 2018

jimmyjams
Jan 10, 2001


King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong
shitcoin

90s Solo Cup
Feb 22, 2011

To understand the cup
He must become the cup



klafbang posted:

Plus, I can shove them up my butt where they belong.

The only way to securely store your bitcoins, friend.

Khorne
May 1, 2002
He reported his trading activity and did some very dumb things. That's the most likely culprit. He "made" $4000 in the end, but what he did was so dumb that he got wrecked by tax on the transactions he didn't profit from.

jonathan
Jul 3, 2005

by LITERALLY AN ADMIN
Will Fear Factory be doing a Blockchain song soon ?

ghosTTy
Sep 22, 2008

QuarkJets
Sep 8, 2008

Bitcoiner paradox: wise Satoshi himself (pbuh) recommended against investing heavily in Bitcoin and was upset when GPU mining became a thing (guys please stop creating an arms race)

The guy who wrote that tweet obviously wasn't active in the bitcoin community around 2010 cause almost no one was treating bitcoins as an "investment". We all knew the technical limitations, and goons were mining it as a lark because even the creator acknowledged that this was a simple proof of concept, not the end-all be-all of distributed currencies. Yet here we are years later, where thousands of idiots jumped in head first with all of their money and decided that Bitcoin should be the cryptocurrency market leader for seemingly no good reason at all

ghosTTy
Sep 22, 2008

QuarkJets posted:

Bitcoiner paradox: wise Satoshi himself (pbuh) recommended against investing heavily in Bitcoin and was upset when GPU mining became a thing (guys please stop creating an arms race)

The guy who wrote that tweet obviously wasn't active in the bitcoin community around 2010 cause almost no one was treating bitcoins as an "investment". We all knew the technical limitations, and goons were mining it as a lark because even the creator acknowledged that this was a simple proof of concept, not the end-all be-all of distributed currencies. Yet here we are years later, where thousands of idiots jumped in head first with all of their money and decided that Bitcoin should be the cryptocurrency market leader for seemingly no good reason at all

i'm starting to get the feeling you don't like technological or economic progress

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ghosTTy
Sep 22, 2008

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