I'm absolutely shocked that the established banking and financial sector would feel threatened by an independent currency that they can't manipulate or control.
Shocked.
I'm absolutely shocked that the established banking and financial sector would feel threatened by an independent currency that they can't manipulate or control.
Shocked.
LOL, BTC were 92 cents when I started this thread. Now >$27,000.00
Please look at the new 1040 (Link)
Did any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency Must check YES or NO
1040 tax form change meant to target cryptocurrency transactions (thedenverchannel.com)
Did any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency Must check YES or NO
1040 tax form change meant to target cryptocurrency transactions (thedenverchannel.com)
"Yes"
You're required to report all income. I'm not sure why it's a surprise you have to report crypto gains.
$33,000 LOL
Question: Can you use crypto money in the actual stores, or does one have to find a buyer to pay cash to use in the stores?
In other words, is crypto money "legal tender?"
You can use it in stores by utilizing BTC credit cards. No, it's not "legal tender". Neither are your checks or credit cards. You can also sell BTC on exchanges and transfer those US dollars into your bank account.
Many years ago, when bitcoin was just breaking into public notice, I installed the bitcoin wallet and back then there was a public bitcoin faucet where you could receive .05 bitcoin for free.
It was a way to publicize the cryptocurrency and make ordinary people feel like they had something interesting to watch.
At the time when bitcoin was worth only a few dollars that .05 bitcoin had a value of a few cents.
Today, at almost $35,000 per, that same .05 bitcoin is worth roughly $1,700.
It's a shame I didn't backup and preserve my bitcoin wallet.
It was lost during one of my computer upgrades; I probably wasn't interested in a file worth less than a dollar.
It was a way to publicize the cryptocurrency and make ordinary people feel like they had something interesting to watch.
At the time when bitcoin was worth only a few dollars that .05 bitcoin had a value of a few cents.
Today, at almost $35,000 per, that same .05 bitcoin is worth roughly $1,700.
It's a shame I didn't backup and preserve my bitcoin wallet.
It was lost during one of my computer upgrades; I probably wasn't interested in a file worth less than a dollar.
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