You think it’s a coincidence that the day 1broker is shut down BTC is also declared a commodity?
Enjoy your Wild West days while they last, soon all exchanges will have strict kyc policy and comply with reporting so make sure you are doing your taxes properly like a good goy biz.
So one judge decides an entire industry? The fuck!
buy ethereum. where do you think all the liquidity for these smaller tokens is going to go? decentralized exchanges are critical, and they only work when the tokens are native to the decentralized exchange itself, and almost every token today is on ethereum, and that is not going to change going forward
I mean, don't get me wrong, this is far better than the guy ruling them securities... But one guy has the power to do this?
implying anyone cares what turdmerica thinks. this is the chinese century
Funnier thing is it was a woman
baka bitches ruin everything
Tell that to the people with funds in limbo on 1broker right now
>no source
Here’s your source
bitcoinist.com
its better when less martsharters make it through crypto
ever heard of DEX?
My major investments are sec safe.
Quant. Holo and xtrabytes. All cant be termed securities.
Chinks have shit tech compared to American projects.
Burgers are unironically the dumb money. Look at what happened to online poker after burgers got banned.
I realized an important part of this ecosystem is to reply to posters so let me reply to yours with a gigantic “eat a dick.” I hope you choke to death for 20 minutes on a black dude’s dick while your aids ridden daughter films it. What a waste of my time. Fuck you.
Already a commodity faggot
American projects are complete rubbish compared to Korean/Japanese/Chinese/European projects
what the fuck are you on about OP?
commodity = lower tax rate than current IRS rules
this was a fucking gift. you get 60% long term cap gainz rate even on short term trading now, only 40% short term
it also removes the $3k capital loss cap for you buy high sell low retards and overturns the IRS ruling of requiring accounting at every trade closure
this judge is based as fuck
I was wondering that. Does this actually change the tax rules or does the IRS have to agree with the courts? Not sure how that works
IRS guidance means nothing once a court overrules them
congress writes the tax law. courts say bitcoin is a commodity, then commodity tax law applies. dont make a fuck what the IRS says to the contrary
love it, we will have EFT we will have paying Taxes for nanny state. hahahaha aamazing grace.
oh nice, so whats the catch then?
the catch is that bizlets are retarded and will market sell everything anyway
>QNT, HOLO, fucking XBY.
Dude, stop getting lured into scams.
>bitcoinist.com
>Allegedly, My Big Coin Pay Inc., misappropriated investors by naming their cryptocurrency in a manner which sounds a lot like Bitcoin (BTC)
oh shit CFTC coming after bitcoin cash/gold/diamond/private/interest/etc.etc.
FUCK!.... You're probably right.
Thing is, what was said here
Is like actually pretty fucking good. Like this sounds really fucking good. Not having to make every transaction a fucking taxable event alone for fucks sakes is a god send. Lower tax rate too? And you dont have to worry about buy high sell low resulting in insane taxes.
If this is true its bullish as fuck.
>the absolute state of crypto investors
Decisions like this help guide similar cases in future. The judge didn't create a new law, but future court cases regarding crypto could possibly/likely cite this ruling when making a decision.
BTC isn't used as currency anymore so it's only logical that it became a commodity
>anymore
it's usage has only ever been going up.
>can you can you
WTF when did that happen. RIP 1 broker, fuck the (((FBI)))
Funds are safu
>My Big Coin Pay Inc
lmao. Do they price their bigcoins in dollhairs or in gyros?
1broker is probably off the hook but from now on they can offer trading for non-us customers only
Also all bitcoin casinos and dozen of other exchanges can no longer offer trading if bitcoin is seen as commodity in usa
Funds are limbu
>Not going to change going forward
AHHHHHHHHHHHHHHAHAHAHAHAHAA
well, he meant safe from him, too! when you invest like that your money is safe from everyone, including yourself
It blows my mind all the normi faggots on twitter and reddit are wanting regulation too. The whole point of this shit was to get away from it
does this apply to last years taxes? I got motherfuckin raked over the coals. Can I get some relief? Or does this only apply to 2018 onwards?
It would likely apply from this point forward. Also if you had a loss it doesn't help you unless you want to claim more than 3k losses per year.
>It would likely apply from this point forward.
My taxes are a complete impossible fucking joke at this point. Like I think my taxes are no bullshit impossible to figure out. So this shit might as well just apply to all of it right now or none of this shit will get done.
>giving a fuck about usa kikes
>ever
fuck off op and see me with arthur in seychelles with you kike burgers banned from service.
mfw almost sent funds to 1broker