https://www.rt.com/business/418736-r...-bitcoin-zero/

its not even a pump. its a test pump. they are testing the market to see wht it can handle. Either they figured out their pockets arent deep enough or they figured out they are deep enough and another wave is coming.

I dont own it but its not a terrible idea to have some and go to sleep with high sell orders...like 5k. maybe thats too greedy but if you catch the spike you **** over the pump and dumpers.

5k is overly optimistic

Is that not obvious? There is like thousands of pointless crypto currencies. The vast majority of them are just vapor and have lots of vulnerabilities.

Tax question. US resident here. If someone overseas gives their American friend/relative $10-15k, by way of using BTC as the medium for the transaction, and then the American sells those BTCs (has them turned into USDs) and wires the funds to his bank account, will he (the American) have to pay taxes? He didn't make any profits on BTC so I don't think there is a need to pay taxes, correct? Secondly, how does the IRS police people that actually did profit on BTC, but make up a story like the one above? With stocks there are records of when people bought them, and when they sold them, and they are easy for the IRS to find. Is this the case with BTC too?

If the recipient didn’t earn any income on the sale then income taxes obviously wouldn’t apply. The sender would owe taxes on any gain in value from the time he bought to the time he sent.

On your second question, I’m not sure how the IRS polices undocumented income. I see it in the same category as tips, gambling earnings, etc. it’s probably easier to track crypto gains down than those, though. At some point most people are gonna have a deposit/withdrawal to and from a checking account.

"going to $0.00" which is what the title is and "worthless" as the person in the article says are very different.

Are you basing this on a special ruling for crypto or just making things up?

I’m making things up

Well, I believe it since what you said has no basis in tax reality as far as I know.

Why not? The recepient didn’t make any gains from BTC. Why would he be taxed?

The IRS is very much aware of the use of "gifts" for tax evasion. Just make sure none of your gift profits find their way back to your friend (before or after the gift).

I read only 100 of 250,000 (0.04 lol!) of BTC investors have filed taxes with the IRS. Maybe because it's insanely hard to figure out. Anybody here have any experience yet on how to file BTC for taxes?

#taxationistheft

Has anyone read or have opinions on this blog "95 Crypto Theses for 2018". I'm sure some will right it off as FUD but found it very interesting

https://medium.com/tbis-weekly-bits/...8-ca7b74f8abcf .

Predicting utility coins at some point go to zero as no real need to hold them and longterm owning legit cryptocurrencies like Bitcoin/ETH/Monero/Zcash is the way to go. Don't think ill be dumping my utility coins just yet but something to keep in mind for sure.

What did you guys make of this interview and the trashing he gave Ethereum any merit to what he said or way off?

I think he made a lot of real good points to consider for the long term.

It's definitely cool but I think it's dog crap. It's vapor and has lots of vulnerabilities.

https://www.irs.gov/newsroom/irs-vir...rency-guidance

lol @ the guy making fun of disko

Skepticism is healthy, Ethereum governance, the move from pow to pos, the lack of scalability are all valid concerns.

So many platforms are getting released that ethereum is not the guarantee homerun that most pretend it to be.

https://youtu.be/LS2BMxeHsv8

Could have been a better endorsement for sure, but Ellen mentioning it to millions of housewives has still got to be a positive thing.

I asked if there had been a ruling, and there it is. Thanks for answering the question.

holy ****, Ellen now spreading the word. The housewives will be playing this **** like Carmella Soprano plays the stock market

Bitcoin, the king in the north! The king in the north! The king in the north!

Make a clan clash or kim K esque smart phone game. Force transactions in BTC and you get crypto into the hands of the proles overnight.

re: the ethereum question. I didnt watch that its 2 hours long.

Id say nothing is a buy and hold beyond 1 year. What im looking for is governance and sustainability. ethereum doesnt really have that but they seem to be able to push updates. yes they are behind as far as the tech but are way ahead as far as adoption.

I own almost every ether clone out there. neo, eos, vechain icon, Nem.

but if you look ahead in terms of horizon...ether has some stuff going live, even if its poor quality apps, and I suppose they are making some progress on the tech side. pos might not be the solution to everything, but pow is not going to survive.

what will work is proof of importantance that NEM is doing, but that is only a shell of what is possible.

so basically which one is the runaway winner? none. which one has it all figured out? none.

the answer will be a patchwork quilt and noone has the pattern for that quilt.

even neo is a disaster. they sorta have the right idea to have 2 coins but the economics are wrong, becaue those coins are just going to parallel each other. and Neo is a security and theres no way in hell a security like neo is worth that much.

but i own it just because I want a bunch of stuff that I can trade for USD