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thesameguy
March 17th, 2014, 09:00 AM
Ugh. I totally missed the boat on bitcoin. FML.
Yw-slayer
March 17th, 2014, 05:56 PM
MAJOR FIRST WORLD PROBLEM
Yw-slayer
March 18th, 2014, 08:36 PM
I'm actually probably going to get into NXT and dogecoin for teh LULz
thesameguy
March 19th, 2014, 08:49 AM
Virtual anonymous currency is extra interesting, that's for sure.
Random
March 25th, 2014, 09:10 AM
Ugh. I totally missed the boat on bitcoin. FML.

Last weekend's LeMons race paid out in bitcoin. :D
thesameguy
March 25th, 2014, 09:27 AM
Heh - that's kinda messed up!
Random
March 25th, 2014, 02:22 PM
dogecoin is sponsoring a NASCAR driver for the Talladega race! :D

http://i.kinja-img.com/gawker-media/image/upload/fgiboxor8suymdmou6vn.jpg
Random
March 25th, 2014, 02:26 PM
Split the ecurrency comments into a new thread--could be worthwile. :)
thesameguy
March 25th, 2014, 02:59 PM
I keep itching to do something about this stuff, but I'm not quite sure I have the extra brain cycles to invest in anything right now. I'm kinda feeling like I might not want to learn about anything new for a little while.
Yw-slayer
March 25th, 2014, 06:01 PM
Dogecoin is pretty lulz
Kchrpm
March 26th, 2014, 06:34 AM
It's going to become a bit of a tax nightmare.

http://dealbook.nytimes.com/2014/03/25/i-r-s-says-bitcoin-should-be-considered-property-not-currency/
KillerB
March 29th, 2014, 08:27 AM
Ugh. I totally missed the boat on bitcoin. FML.

I know, right? :(
KillerB
March 29th, 2014, 08:29 AM
It's going to become a bit of a tax nightmare.

http://dealbook.nytimes.com/2014/03/25/i-r-s-says-bitcoin-should-be-considered-property-not-currency/

I don't know enough about currency trading to know what difference this makes. Gains are gains and have to be taxed. Not sure where the tax benefit would be of treating it as currency vs property.

It's no different in regard to gold, btw.

EDIT: ok I read the article, if anything, this is advantageous, because property gains are taxed at the capital gains rate (max 20%) where currency trading gains are taxed at the regular income tax rate (39.6%).
Kchrpm
April 2nd, 2014, 12:44 PM
If you're just investing in it and cashing out to spend, it's not an issue, the confusion comes when you start buying stuff with it directly.

http://www.bloomberg.com/news/2014-03-25/bitcoin-is-property-not-currency-in-tax-system-irs-says.html


Purchasing a $2 cup of coffee with Bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of gross income for the coffee shop.
Dicknose
April 3rd, 2014, 02:34 AM
A guy at my work made over 100k from buying 1k worth. He wanted more, his wife said no, too risky.
Now he sold them the cash is letting the wife stay at home another year with their baby.
Yw-slayer
April 3rd, 2014, 02:36 AM
It IS really risky - but that's what gets you returns if it works out!!

I think the max I would've put into a pure speculative play (like Bitcoin) would have been USD3K. Still, that would have made me some good $$$, as long as I'd gotten rid of it before Mt. Gox went under (since I'd probably have stored it with them).
thesameguy
April 3rd, 2014, 02:59 AM
Same here. Every time I think I missed the boat I remind myself that the boat I'd have been on might have sunk. Hard not to think about free money, though.
Yw-slayer
April 3rd, 2014, 04:26 AM
Yeah. Or I might have put it on my old X301 Thinkpad and kept that off the net (which I've now lost my charger for, LOL).
Yw-slayer
January 4th, 2018, 01:38 PM
Yup.
MR2 Fan
January 4th, 2018, 02:34 PM
so did you buy any before YW?
Yw-slayer
January 4th, 2018, 03:29 PM
Nope. I had a mate who bought at USD350 and forgot about it, then found it earlier this year and sold at USD6K. He was pretty pleased, and still is even now.

I got some Ripple yesterday, but swings of around 20% in the space of 12 hours make it crystal clear that this is more like punting in a casino than anything else.