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Thread: Now that BTC is a taxable asset, what's the advantage of it?

  1. #31
    Quote Originally Posted by specsaregood View Post
    That a problem you have often? moving 10million across borders? are you the secret Ron paul supporting billionaire?
    not often. but the fact you can do it when need it makes it a permanent advantage.



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  3. #32
    Quote Originally Posted by Mordan View Post
    not often. but the fact you can do it when need it makes it a permanent advantage.
    over what? I can send a wire transfer easy enough.



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  5. #33
    Quote Originally Posted by oyarde View Post
    About the same as a local bank charges if you bounce a check or cancel a check . Pretty high.
    Sure, but you don't pay that fee every time you buy something.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  6. #34
    Quote Originally Posted by r3volution 3.0 View Post
    Sure, but you don't pay that fee every time you buy something.
    Other than the transaction fee, why would I want to use BTC to buy something online instead of a credit/debit card/paypal?
    Using BTC puts all the risk on the buyer, whereas with the cards, the risk is all on the merchant.
    If I buy something with a card and it never gets shipped or I don't like it and wont return it, etc. I can always dispute/chargeback the transaction and pay nothing. Not so with BTC.

  7. #35
    I look at bitcoin as a speculative investment . I cannot really use it for anything I buy . I am old and buy very little .

  8. #36
    Quote Originally Posted by oyarde View Post
    I look at bitcoin as a speculative investment . I cannot really use it for anything I buy . I am old and buy very little .
    That's exactly what it has turned into and the current problem with it.

  9. #37
    Quote Originally Posted by r3volution 3.0 View Post
    Today's average transaction fee: $28.62
    $5.80 on blockchain.info right now, I dunno how they are calculating this.. I had a high fee a couple weeks ago at $17, but most of them lately have been $7-$11.

    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  10. #38
    Quote Originally Posted by specsaregood View Post
    That's exactly what it has turned into and the current problem with it.
    So if you speculate that it will actually be useful and valuable in the future it is a problem to buy it for the purposes of speculation? Why? Especially when a lot of them don't believe in the viability of our current economic or monetary system..

    Certainly there are people speculating that the value will go up who don't believe in the longterm viability of crypto, and who believe the current monetary system and economic system are perfectly ok. I don't really see how that is a problem though either.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  11. #39
    Quote Originally Posted by specsaregood View Post
    That a problem you have often? moving 10million across borders? are you the secret Ron paul supporting billionaire?
    It's a rather strange example, I think. Even when $10m in bitcoin is "smuggled" across a border, usage is still limited to bank cash/ATM withdrawal limits and other fincen regulations, since crypto itself isn't accepted as payment hardly anywhere and it's not direct payment method anywhere like cash is. Usage of bitcoin still 99.99% relies on the established Rothschild banking system, no matter where you start out and end up.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  12. #40
    Quote Originally Posted by devil21 View Post
    It's a rather strange example, I think. Even when $10m in bitcoin is "smuggled" across a border, usage is still limited to bank cash/ATM withdrawal limits and other fincen regulations, since crypto itself isn't accepted as payment hardly anywhere and it's not direct payment method anywhere like cash is. Usage of bitcoin still 99.99% relies on the established Rothschild banking system, no matter where you start out and end up.
    That is incidental, not bitcoin's fault, it's not a limitation, and it is actually a good thing from an investment standpoint because that means adoption has a long ways to go and thus it can become much more valuable.

    But if you took the money somewhere else and wanted to buy a car, you could be like, 'hey, I want to buy a car for 1 BTC' and they might be like, "oh well I want $13k US dollars" and you could be like "Well 1 BTC is worth $13.7k, you can open a BTC wallet and get $13.7k and after fees you will make at least a $500 profit". And ya, they will have to interact with the bank, if they choose, or they can use their BTC to barter. You can go out and do the same thing to buy gold or silver and trade those things for cash if you need cash to buy things, but again that is incidental, not bitcoins fault, and it is not a limitation.

    But ultimately, unlike what you said, the banks are NOT necessary for bitcoin to be used as money. The banks, fiat, all of it could disappear overnight and that would make crypto that much more valuable.

    The reason it is a good example is because it is much more difficult to get that $10 mill to another country in the form of cash or wire transfers. It has about the same value once it gets there. I don't understand why this is a bad example.
    Last edited by dannno; 01-12-2018 at 01:49 PM.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."



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  14. #41
    Quote Originally Posted by specsaregood View Post
    Other than the transaction fee, why would I want to use BTC to buy something online instead of a credit/debit card/paypal?
    Using BTC puts all the risk on the buyer, whereas with the cards, the risk is all on the merchant.
    If I buy something with a card and it never gets shipped or I don't like it and wont return it, etc. I can always dispute/chargeback the transaction and pay nothing. Not so with BTC.
    That is not a limitation of BTC, I could start a credit card company (sans regulations) that dealt with bitcoin and I could create a dispute/chargeback resolution via contracts with the merchants and users.

    It might work even better with ethereum.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  15. #42
    Quote Originally Posted by dannno View Post
    Why? I don't really see how that is a problem though either.
    Because the wild speculation and gambling going on is a big part in the wild swings in value and the high transaction costs, which makes it less useful/reliable for its supposed intended function. I think if the speculation backed off quite a bit, you'd find merchants more willing to accept it as "money".

    Quote Originally Posted by dannno View Post
    That is not a limitation of BTC
    It is a limitation of BTC. you'd have to basically start up an escrow service on top of it all.

  16. #43
    Quote Originally Posted by specsaregood View Post
    Because the wild speculation and gambling going on is a big part in the wild swings in value and the high transaction costs, which makes it less useful/reliable for its supposed intended function. I think if the speculation backed off quite a bit, you'd find merchants more willing to accept it as "money".
    On the plus side, it is helping get the scalability issues solved sooner, it sounds like they are providing a service to help make bitcoin more viable more quickly.

    It is a limitation of BTC. you'd have to basically start up an escrow service on top of it all.
    Doesn't sound like a limitation then.. or the limitation on bitcoin is at least as great as the limitation on cash, and we do it with cash, soo..
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  17. #44
    lol ask the Nigerians and Zimbabweans and Chineese who use Bitcoin to smuggle value out of their $#@! hole

    Bitcoin is money. It is not all speculative. I sent over a million dollars over to a friend in another country in seconds with Bitcoin.

    Financial freedom. NOW!. And whenever I want.

  18. #45
    Quote Originally Posted by dannno View Post
    Doesn't sound like a limitation then.. or the limitation on bitcoin is at least as great as the limitation on cash, and we do it with cash, soo..
    Which is why I didn't compare it to cash. I said in comparison to buying something online with a credit/debit card.

  19. #46
    Quote Originally Posted by specsaregood View Post
    Which is why I didn't compare it to cash. I said in comparison to buying something online with a credit/debit card.
    Um, ya, but you're paying them in cash.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  20. #47
    Quote Originally Posted by dannno View Post
    Um, ya, but you're paying them in cash.
    which brings me back to my original question,
    why would I want to use BTC to buy something online instead of a credit/debit card/paypal?
    I can't see any compelling reason to do so.

  21. #48
    Quote Originally Posted by specsaregood View Post
    which brings me back to my original question,


    I can't see any compelling reason to do so.
    As a merchant you might prefer btc over credit cards/paypal due to merchant fees so you could give a btc discount. That may start happening as btc becomes more established.

    But you are looking at this very superficially. BTC isn't supposed to replace cash because cash is just so darn expensive to transact in, it is just icing on top that crypto is (or theoretically should be) cheaper to transact in than our cash payment systems. BTC is supposed to replace cash because governments abuse the monetary system and pay for wars and projects and do immoral things by expanding the money supply and stealing. By keeping your wealth in crypto, in the longterm you won't see devaluing of your savings as you would in cash.
    Last edited by dannno; 01-12-2018 at 03:01 PM.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."



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  23. #49
    Quote Originally Posted by dannno View Post
    That is incidental, not bitcoin's fault, it's not a limitation, and it is actually a good thing from an investment standpoint because that means adoption has a long ways to go and thus it can become much more valuable.

    But if you took the money somewhere else and wanted to buy a car, you could be like, 'hey, I want to buy a car for 1 BTC' and they might be like, "oh well I want $13k US dollars" and you could be like "Well 1 BTC is worth $13.7k, you can open a BTC wallet and get $13.7k and after fees you will make at least a $500 profit". And ya, they will have to interact with the bank, if they choose, or they can use their BTC to barter. You can go out and do the same thing to buy gold or silver and trade those things for cash if you need cash to buy things, but again that is incidental, not bitcoins fault, and it is not a limitation.

    But ultimately, unlike what you said, the banks are NOT necessary for bitcoin to be used as money. The banks, fiat, all of it could disappear overnight and that would make crypto that much more valuable.

    The reason it is a good example is because it is much more difficult to get that $10 mill to another country in the form of cash or wire transfers. It has about the same value once it gets there. I don't understand why this is a bad example.
    No one is going to sell you a real asset for the wild west of crypto. And especially not someone that you have to educate about it as part of the sale.

    "I gotta do what now? Do you have cash or not?"

    And pray they don't look up a chart of bitcoin to see that tomorrow that $13,700 could easily be $11,500.


    Quote Originally Posted by Mordan View Post
    lol ask the Nigerians and Zimbabweans and Chineese who use Bitcoin to smuggle value out of their $#@! hole

    Bitcoin is money. It is not all speculative. I sent over a million dollars over to a friend in another country in seconds with Bitcoin.

    Financial freedom. NOW!. And whenever I want.
    You probably shouldn't advertise your crimes online.
    Last edited by devil21; 01-12-2018 at 09:18 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  24. #50
    Quote Originally Posted by devil21 View Post
    And pray they don't look up a chart of bitcoin to see that tomorrow that $13,700 could easily be $11,500.
    You wanna put a wager on that??
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  25. #51
    Quote Originally Posted by dannno View Post
    You wanna put a wager on that??
    No I don't, and neither would a car seller.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  26. #52
    Quote Originally Posted by Mordan View Post
    lol ask the Nigerians and Zimbabweans and Chineese who use Bitcoin to smuggle value out of their $#@! hole

    Bitcoin is money. It is not all speculative. I sent over a million dollars over to a friend in another country in seconds with Bitcoin.

    Financial freedom. NOW!. And whenever I want.
    Was that Zimbabwian millions?

  27. #53
    Quote Originally Posted by devil21 View Post
    No I don't, and neither would a car seller.
    A retard might
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  28. #54
    Quote Originally Posted by devil21 View Post
    No one is going to sell you a real asset for the wild west of crypto. And especially not someone that you have to educate about it as part of the sale.

    "I gotta do what now? Do you have cash or not?"

    And pray they don't look up a chart of bitcoin to see that tomorrow that $13,700 could easily be $11,500.




    You probably shouldn't advertise your crimes online.
    hey dummy. look up the info. 75 houses were sold with BTC as unit of account in Florida in 2017. look it up.

    there is an article somewhere with a guy working in the house selling business whining about it and saying this trend is meaningless. and repeating the official narrative that those transactions are made with laundered money. hahahahahahahaha

  29. #55
    for all practical purposes. Bitcoin is working very well. and little by little people learn about crypto and how to use it.

    slaves in africa can store their wealth the best asset of the world. try sellling gold bars in the $#@! holes there.

  30. #56
    This goes here.

    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals



  31. Remove this section of ads by registering.
  32. #57
    Quote Originally Posted by dannno View Post
    A retard might
    Dang, missed my $11,500 bitcoin call by two days. Your car seller would be feeling like a retard right now, for sure.
    Last edited by devil21; 01-16-2018 at 04:36 AM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  33. #58
    Quote Originally Posted by devil21 View Post
    Dang, missed my $11,500 bitcoin call by two days. Your car seller would be feeling like a retard right now, for sure.
    The car seller can just wait a few days and the price is right back at 14000.
    You can maintain power over people, as long as you give them something. Rob a man of everything, and that man will no longer be in your power. Aleksandr Solzhenitsyn

    Quote Originally Posted by LibertyEagle View Post
    Trust principles; not people.
    My Che avatar is my unique way of giving a big middle finger to the, the neocons, the globalists, imperialists and most importantly to the left and right political establishment who hate his guts till this day. My admiration for him ends where his anti imperialist pro communism ideology starts.

  34. #59
    Quote Originally Posted by juleswin View Post
    The car seller can just wait a few days and the price is right back at 14000.
    What about the auto sale that took place when it was at 19000? How long the dealer going to have to wait?

  35. #60
    Quote Originally Posted by devil21 View Post
    Dang, missed my $11,500 bitcoin call by two days. Your car seller would be feeling like a retard right now, for sure.
    Ya good time to accumulate slowly.

    China is cracking down on mining.. might be a good time to buy a rig..

    This is what BTC people want, they want the governments to crack down, it might be bad for the price short term but it shows weakness by the state.



    China's Shutdown Of Bitcoin Miners Isn't Just About Electricity

    https://www.forbes.com/sites/sarahsu.../#45ea49b3369b


    Bitmain is selling some S9s today apparently, not available rn, they sell out quick when they are available..

    https://shop.bitmain.com/antminer_s9...coin_miner.htm
    Last edited by dannno; 01-16-2018 at 12:16 PM.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

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