Using bitcoin while traveling seems like a good solution. Anyone doing it already?

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Playallin

Well-Known Member
#21
#21
Toxic said:
Even if you pay taxes on every transaction... who cares? You pay taxes when you realize a capital gain on stocks as well. Accept stocks aren't liquid 24/7 and it's difficult to trade stocks for cash in a peer to peer transaction.

If you were to sell at a capital loss, that'll offset your capital gains sales. So you're only adding to your tax burden when you MAKE MONEY from this conversion!

Oh, and if you learn about UTXO selection (an advanced concept) and choose to sell bitcoin that you've held for over a year, then you only pay long term capital gains.
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Thank you for setting these people straight. They know nothing about BC, epically the upper.
 
M

Midwest Player

Well-Known Member
#22
#22
Might not know much about bitcoin, but I do know something about taxes. If you want to detail every time you buy a doughnut and coffee with bitcoin go ahead. The headaches aren't worth it.
 
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Playallin

Well-Known Member
#23
#23
Midwest Player said:
Might not know much about bitcoin, but I do know something about taxes. If you want to detail every time you buy a doughnut and coffee with bitcoin go ahead. The headaches aren't worth it.
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The kind of reply I would expect from a person who is afraid of their own shadow.
 
P

Playallin

Well-Known Member
#27
#27
People who deal in BC know how to avoid such laws. If you have never dealt in BC you would not be aware of dealings of the crypto world. Don't take everything for face value. It's being done everyday even as we speak.
 
P

Playallin

Well-Known Member
#28
#28
Here is just one hint for MWP to get around what he posted. This is something he uses to get money. Maybe? This is simple. There are many other ways but I won't go into them.
 
AchillesBlackjack

AchillesBlackjack

Well-Known Member
#29
#29
NicholasAnderson said:
Bitcoin is a volatile cryptocurrency, but due to its popularity, bitcoin reached its highest level in 2017-2018. If you look at technical analysis, you will see that traders predict bitcoin to reach even a higher level in 2 or 3 years and are a profitable long-term investment. But, if you want to make money faster, you should know crypto pairs trading strategy. Choose a chart; for example, you can try xagusd, xag is pretty volatile these days, and you can make a lot of money trading on xag.
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Another way make some good money is to invest in earnings with stable coin like USDD or USDT. Pegged to the U.S Dollar. Annual interest rates of 20-35%. Can compound daily or bi-weekly. Yes, you will have pay capital gains if you withdraw it to fiat currency. But in Canada that's only 15%, and if you can find broker who let you buy it under TSFA. You will be exonerated of all taxes. Or get really good accountant and dodge 90% of all taxes legally lol
 
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