Uncle Sam Getting it in on Bitcoin: Coinbase ordered to report 14,355 users to the IRS

[Easy-E]

Any sale of cryptocurrency is considered capital gain, Uncle Sam is gonna get his cut no matter what

oh shyt

 

[King of Creampies]

WOW. this is the Fed Gov RIGHT NOW on this Bitcoin shyt.

 

[Lord_nikon]

WOW. this is the Fed Gov RIGHT NOW on this Bitcoin shyt.

 

[Paradise50]

Only 14k people out of 7 billion made over 20k

This shyt was impossible to predict. I bet majority of those 14k people got in at around 3k and just got lucky it rode to 10k that's a 300% swing so only 6-7k investment would have got you that

I looked back at my blockchain transactions from 14-15 because it's readjusted to today's price. It looks like I was making 15-20k transactions


I was just moving btc from coinbase to blockchain to bitcoin sportsbook



makes me for not letting the money sit but who the fukk saw this outcome....only a select few...people brag now who jumped on late but the real winners were pre-2015 investors/buyers

 

[Darealtwo1]

I looked back at my blockchain transactions from 14-15 because it's readjusted to today's price. It looks like I was making 15-20k transactions


I was just moving btc from coinbase to blockchain to bitcoin sportsbook



makes me for not letting the money sit but who the fukk saw this outcome....only a select few...people brag now who jumped on late but the real winners were pre-2015 investors/buyers

There are not that many off them. Majority of people have probably seen 300% max on their investment. Not the potential 3300% that you would have got had you been on it before 2015

 

[hayesc0]

I dont understand why this is news?

You money you get taxed...why is this different then any appreciating asset you own?

The bigger news is only 15k ppl actually made more than 20k. Seeing that bitcoin is at 11k+ it should show u why this is a huge bubble and a pyramid scheme that is totally speculative.

And before everyone comes saying blah blah blah...yes ppl CAN make money in a pyramid scheme as long as they get in and out in time.

Theres going to be a LOT of ppl (ppl that probably cant afford to lose money) thats going to be left holding the bag on this. Beware.

Agreed.

 

[JLova]

Should be reporting capital gains to the government and paying taxes on them anyways.

 

[☑︎#VoteDemocrat]

greedy fukks.... can't let no one walk away scott free and they wonder why multi-national corporations be hiding their billion dollar assets in off shore tax havens...

China banned ICOs though.

China just made a huge move against cryptocurrencies

Yall keep playing with this shyt.

 

[OneTimeforTheMind]

Only 14k people out of 7 billion made over 20k

This shyt was impossible to predict. I bet majority of those 14k people got in at around 3k and just got lucky it rode to 10k that's a 300% swing so only 6-7k investment would have got you that

It's people who used the app coinbase to exchange, sell and buy the early guys don't use coinbase...this is a simple issue, don't use coinbase if you don't want to give up your privacy

 

[Paradise50]

I dont understand why this is news?

You money you get taxed...why is this different then any appreciating asset you own?

The bigger news is only 15k ppl actually made more than 20k. Seeing that bitcoin is at 11k+ it should show u why this is a huge bubble and a pyramid scheme that is totally speculative.

And before everyone comes saying blah blah blah...yes ppl CAN make money in a pyramid scheme as long as they get in and out in time.

Theres going to be a LOT of ppl (ppl that probably cant afford to lose money) thats going to be left holding the bag on this. Beware.

I personally think so too and when the gov really start poking their heads in it...shyt will get fukked up quick.

It's why I'm not interested in dabbling with it now. If it hits 20k and sustains then I'll eat crow again, but now I feel like it's too late.

You got people who're inept to basic fukking tech and shyt involving all forms of tech trying to talk to me about "bitcoin"


it's like, get ya mainstream media ass out my face

 

[OneTimeforTheMind]

China banned ICOs though.

China just made a huge move against cryptocurrencies

Yall keep playing with this shyt.

Won't stop other countries from using it. As long as cats are buying with it the price will go up.

 

[Jemmy]

I looked back at my blockchain transactions from 14-15 because it's readjusted to today's price. It looks like I was making 15-20k transactions


I was just moving btc from coinbase to blockchain to bitcoin sportsbook



makes me for not letting the money sit but who the fukk saw this outcome....only a select few...people brag now who jumped on late but the real winners were pre-2015 investors/buyers

Nobody saw this coming but it seems orchestrated at this point. It’ll likely crash one more time to a very low prIce then rise even higher again then it’ll drop.

 

[King Frost]

Any sale of cryptocurrency is considered capital gain

then don't sell it, spend it
goods & services

Should be reporting capital gains to the government and paying taxes on them anyways.

tax is immoral