Why bother cashing out and paying taxes when you can trade crypto directly for items or am I missing something?
Why cash out?
Jason Powell
Robert Young
In 2022 Bitcoin will be accepted everywhere. Don't trade your precious Bitcoins for fiat paper. Enjoy the ride.
Lincoln Murphy
It wont because its based on old tech that cant scale and LN is too complex for normies. Some other crypto might be used though. Probably something like nimiq since it runs in the browser. But not eth based because eth doesnt scale either.
Andrew Gray
>believing in the meme that you can actually buy stuff with magic internet money
Jeremiah Collins
Most people would have more fiat/crypto if they sold at the top and then bought 6 months later. There's nothing wrong with cashing out in this shit manipulated market.
Leo King
Is there demand for sellers that accept btc? And, if so, why aren't there more? Why convert your gains back to fiat when you can buy a tv with it instead?
Jason Butler
I mean...if WE are so convinced that the price is going back up then why aren't WE working for crypto instead of fiat? Are there any whales out there who would actually be willing to pay someone in crypto say...through a smart contract...???
Lincoln King
lol even in fucking Australia we can get Bitcoin debit cards, so if our backwards as fuck country can I'm sure it's possible elsewhere as well.
Sure, you're not really "buying" with Bitcoin itself since all transactions are just changed on the fly, but sure as shit beats paying a fuck tonne of income tax.
Thomas Reed
I have no plan on buying something worth ~100k right now. Not much that I can buy with such money in my country with crypto as well.
Xavier Fisher
>using TCP/IP is too difficult currently, so normies will never use it -- even when it has been abstracted behind the scenes
Elijah Kelly
>BTC goes to 200k
>bubble beginning to burst
>will owe 40% of crypto gains in capital gains tax
>don't cash out
>buy 10 pounds of gold online and have it delivered to your house
>don't pay tax because it's a trade and not a capital gain
Logan Gomez
Because you still have to pay tax if you use crypto to buy stuff (unless you want to break the law).
Zachary Morales
how? Here in the US you have to provide ID so it's worthless
Jonathan Brooks
>unless you want to break the law
luckily I'm a sovereign citizen
AM I BEING TAXED?
Xavier Lopez
newegg accepts bitcoin
promotions.newegg.com
>Why convert your gains back to fiat when you can buy a tv with it instead?
you can
newegg.com
Cooper Gomez
Good luck selling physical gold m8
Logan Morris
Because you still have to pay taxes if you buy shit with crypto..?
Austin Jenkins
>you still have to pay tax if you use crypto to buy stuff
>you still have to pay taxes if you buy shit with crypto
citation needed
Aaron Morris
>40% capital gains tax
wew do burgers really get bent over this hard by their gubment?
Daniel Brooks
>hold your crypto for one year
>it's tax-free
Dominic Johnson
how can they even prove this especially with all of the dex among other things?
Kayden Evans
My thoughts are that if I believe in the platform K also believe in it accruing value over time.
The next question is whether or not I expect it to outperform traditional portfolios. I honestly do.
If this is true, then I keep the majority of my money in crypto and have a small portion set aside in traditional systems and use that for liquid capital. The least I can do is hold for a year and reduce my tax burden
Josiah Hughes
This is super basic tax law in all countries I know of. Just use google.
Jayden Lee
My car loan is not being paid off in crypto.
My apartment manager does not accept crypto.
The grocery stores do not accept crypto.
None of the places that I shop accept crypto. There might be a couple of coffee houses here that accept crypto, but that might be through Bitpay, in which case, they are getting real money from Bitpay acting as a middle man.
Colton Roberts
Good nimiq shills but have you heard about sharding, plasma and Casper?
Ryder Harris
I never understood the little weights meme.
Like, just do some chin-up if you want to lift some little weight lmao at your life worthless cunt.
Levi Barnes
Also, I recently bought phone from fasttech using Ethereum. There are also other electronics and stuff, good service
Charles Young
>so then I reported myself, and you should too
>upvote
Jayden Morales
What are you talking about? I’m just explaining the law (which a lot of people ITT don’t understand). I report my crypto gains because it’s a lot more money than I can spend on basic consumption. I want to reinvest it in stocks, property etc. which is very difficult without reporting your gains.
Xavier Fisher
Gotta get toned brah
Lucas Taylor
because you might up going -95% AFTER making 1400% gains like me.
Henry Roberts
agreed
Eli Ward
I want her to brap in my mouth
Gabriel Foster
>Your shithole country suddenly decides to tax %15 over all crypto gains that you cash out to your bank account
Hunter Murphy
>In 2022 Bitcoin will be accepted everywhere
>Bitcoins for fiat paper
the absolute state of loberterians
Lucas Cooper
This
If you want to risk going to jail and getting raped though it's up to you.
Levi Turner
what i wondered about this, does the wallet have not to be moved at all or can i keep adding new coins to it? Does the 1 year waiting time start again if i do?
Anthony Foster
nice digits, redditard
Christopher Harris
elaborate.
i wonder the same. let's say you get some btc out of thin air during the next bullrun. you have NO proof of purchasing your bitcoins, because you used localbitcoins or a bitcoin ATM
let's say you end up with 10 btc at some point, do you have to explain how did you get your initial investment? or do you just HODL whatever BTC you want to spend for a year and the cash out?
please explain the german law in detail
Carter Roberts
>elaborate.
german laws