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Thread: Blockchain/crypto

  1. #781
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    But I was told it was literally impossible for the government to regulate this!!!

    It was abundantly clear all along they weren't going to let this be used for tax evasion.

  2. #782
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    Yes tax the plebs as brokers!

  3. #783
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    Make the entire US bitcoin industry move offshore! We are smart!

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  5. #785
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    The tax rate for cryptos should be higher than other forms of 'assets' given all the negatives that come with them.

  6. #786
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    https://slate.com/business/2021/08/i...in-senate.html

    I don't mean to be sarcastic, but the 'little guy crypto' argument goes out the window when you already have high powered lobbyists flexing.

    Sure, members of Congress were already adding laser-beam eyes to their Twitter pics. But if you want a sense of how the cryptocurrency industry has established itself as an influential force in Washington, pay attention to the latest, last-minute negotiations over the bipartisan infrastructure bill.

    In order to help pay for the $550 billion legislation, lawmakers included a long-overdue proposal aimed at cracking down on the rampant amount of tax evasion among Bitcoin and other virtual currency traders. The proposal was expected to raise somewhere around $28 billion, largely by making crypto exchanges and other players in the industry abide by the same sort of information and reporting requirements that govern normal securities brokers. Moderates negotiating the bill wanted to make sure it was paid for, loosely speaking, and cracking down on tax dodging among doge-meme-loving Redditors (among others) seemed like a low-hanging pot of cash.

    Turns out that Shiba Inu bites. In response to the proposal, crypto companies and their trade groups panicked, arguing that the new rules were sloppily written and would be technically impossible for some companies to abide by. Over the weekend, their lobbyists succeeded at trimming back parts the language, and now two powerful senators, Republican Pat Toomey of Pennsylvania and Ron Wyden, the Democratic Finance Committee chair from Oregon, say they are working on a further rewrite. Calling the original text “unworkable,” Toomey put out a statement Monday saying “Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences.”


    I hope the IRS crackdowns on these tax-cheats.

  7. #787
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    Quote Originally Posted by NightTrainLayne View Post
    Elon Musk is a snake-oil selling carnival barker.
    He's a piece of shit.
    Quote Originally Posted by NightTrainLayne View Post
    Dude.. . Elon tweeted that as a joke. Get out now. Don't ever believe a tweet from Elon Musk.
    See above.
    Quote Originally Posted by underrated29 View Post
    Dude- stop.

    No- it cannot be. Please, go learn a lot about it. Crypto CANNOT become taxable. It cannot. It is not some loophole. Stop commenting on it. You are being that Jeudy10hamler guy right now. You are way out of your league here.

    Buuuut- I did mention at the precipice of this change- the governments are not going to see all their tax money go and something is going to happen and I said I doubt it is going to be pretty. But no- the gov cannot just TAX crypto lol

    It is not some loophole LOL.
    This did not age well.

    Quote Originally Posted by NightTrainLayne View Post
    Gains ARE taxable. Have been. .. . for years.
    Yes, yes they are. And it's about time we put tax cheats in prison for decades.
    Quote Originally Posted by NightTrainLayne View Post
    P.S. Elon Musk is a fraud.
    Word.

  8. #788
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    Quote Originally Posted by King87 View Post
    The tax rate for cryptos should be higher than other forms of 'assets' given all the negatives that come with them.
    Your take on it is what it is because you don't have any and aren't into it. If you were, you'd feel differently. Because it's not your money. Funny how that works huh?
    "I may not be a mathematician, but I can count to a million." - Shannon Sharpe

  9. #789
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    Quote Originally Posted by Shazam! View Post
    Your take on it is what it is because you don't have any and aren't into it. If you were, you'd feel differently. Because it's not your money. Funny how that works huh?
    Crypto isn’t your money either!

  10. #790
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    Quote Originally Posted by BroncoWave View Post
    But I was told it was literally impossible for the government to regulate this!!!

    It was abundantly clear all along they weren't going to let this be used for tax evasion.
    No. you just mis understood what you were told. Like many things in this thread.
    The Plan at the moment:

    Draft: Trade a 3rd and 6th this year to a team to move up and get a 2nd next year (this will happen).

    Players I want:
    Jake Ferguson (Jake Butt) or Jelani Woods or Jeremy Ruckert or Cade Otten (owen daniels) at TE- All 4th rd or later.
    Troy Anderson LB 3rd/4th rd (yay Timmy!)
    Neil Farrell, JR DL- run stuffer- bye purcell

  11. #791
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    Quote Originally Posted by King87 View Post
    He's a piece of shit.

    See above.

    This did not age well.


    Yes, yes they are. And it's about time we put tax cheats in prison for decades.


    Word.



    That post aged just fine. For like the trillionth time there is a big difference between the investing/stocks side of crypto where this is aimed and all that encompasses it (miners, brokers, etc) and the rest of the ice burg.
    The Plan at the moment:

    Draft: Trade a 3rd and 6th this year to a team to move up and get a 2nd next year (this will happen).

    Players I want:
    Jake Ferguson (Jake Butt) or Jelani Woods or Jeremy Ruckert or Cade Otten (owen daniels) at TE- All 4th rd or later.
    Troy Anderson LB 3rd/4th rd (yay Timmy!)
    Neil Farrell, JR DL- run stuffer- bye purcell

  12. #792
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    Quote Originally Posted by King87 View Post
    The tax rate for cryptos should be higher than other forms of 'assets' given all the negatives that come with them.
    Nah man. That is a silly post.
    There are as many or more negatives with many other things out there.
    The Plan at the moment:

    Draft: Trade a 3rd and 6th this year to a team to move up and get a 2nd next year (this will happen).

    Players I want:
    Jake Ferguson (Jake Butt) or Jelani Woods or Jeremy Ruckert or Cade Otten (owen daniels) at TE- All 4th rd or later.
    Troy Anderson LB 3rd/4th rd (yay Timmy!)
    Neil Farrell, JR DL- run stuffer- bye purcell

  13. #793
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    Quote Originally Posted by King87 View Post
    Quote Originally Posted by Shazam! View Post
    Your take on it is what it is because you don't have any and aren't into it. If you were, you'd feel differently. Because it's not your money. Funny how that works huh?
    Crypto isn’t your money either!
    The cryptos I hold are indeed mine, and my money is locked in it.
    "I may not be a mathematician, but I can count to a million." - Shannon Sharpe

  14. #794
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    Quote Originally Posted by Shazam! View Post
    The cryptos I hold are indeed mine, and my money is locked in it.
    If it's really currency then pay taxes on it.

    If it's not real currency then don't.

  15. #795
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    Quote Originally Posted by King87 View Post
    Quote Originally Posted by Shazam! View Post
    The cryptos I hold are indeed mine, and my money is locked in it.
    If it's really currency then pay taxes on it.

    If it's not real currency then don't.
    Nah. I'm good.
    "I may not be a mathematician, but I can count to a million." - Shannon Sharpe

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