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   Strategies & Market TrendsBitcoin


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From: Julius Wong7/17/2019 8:53:45 AM
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LedgerX Unveils $100,000 Bitcoin Call Option for Retail Investors

The company gained a license from the CFTC last month to offer crypto futures.

financemagnates.com

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From: SI Ron (Soup Nazi)7/24/2019 12:59:54 PM
1 Recommendation   of 810
 

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From: Savant7/31/2019 12:53:10 AM
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IRS...we're coming to take you away...ha ha hee hee, to the funny farm

https://www.youtube.com/watch?time_continue=14&v=l-lJZiqZaGA


well, not me...ha ha hee

The United States Internal Revenue Service (IRS) is going after American crypto investors. The agency has determined cryptocurrency to be one of five areas where it is easy to avoid taxes.

Through unknown means — possibly including data self-reported by the big exchanges — the IRS has put together a list of known and suspected tax delinquents. They are sending out a batch of 10,000 letters, which will all be delivered by August. If you get one, watch out.

This action by the IRS unveils a new front in the 21st century “tax war” that has already broken out. The tax war is a kind of arms race, with cutting edge technology giving capability and firepower to both sides. Technology is enabling new ways to evade the grasping hand of the state. But it is also making the state more powerful, while giving it more tools to track and visualize in real time.

Befitting its role as a giant, faceless bureaucracy, the IRS is sending out the 10,000 crypto tax compliance letters in three versions: 6173, 6174, and 6174-A.

The 6174 and 6174-A versions are a kind of “heads up” for crypto investors who may or may not be compliant. The 6173 version, on the other hand, is for those accused of noncompliance and starts like this:


Why we're writing to you

We have information that you have had one or more accounts containing virtual currency and may not have met your U.S. tax filing and reporting requirements for transactions which include cryptocurrency and non-crypto virtual currencies.

Virtual currency is considered property for federal income tax purposes. Generally, U.S. taxpayers must report all sales, exchanges, and other dispositions of virtual currency…


If a crypto investor receives a 6173 letter, they may be subjected to penalties and fines. In an effort to draw in more revenue, the IRS has said it will consider reducing or waiving penalties for those who self-report before they receive a letter.

We don't know where the IRS got its info on who to send letters to — it isn't saying — but odds are good the data came from the various exchanges. Coinbase, for example, is estimated to have more than 30 million users.

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To: Savant who wrote (797)8/1/2019 2:24:16 PM
From: Stock Puppy
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I suppose it gets fun when someone takes their boycott and buys something like say, a pizza.

Then you declare the bitcoin price you paid minus the value of the pizza at the time of purchase ...

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To: Savant who wrote (797)8/1/2019 2:52:02 PM
From: Slumdog
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Message 31517422

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From: Elroy8/5/2019 3:29:52 AM
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Bitcoin price heading back up while the Chinese Yuan is hitting a decade low price against the USD.

If the trade war really damages China’s economy, I got a feeling that may be very good for Bitcoin.

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From: Savant8/13/2019 11:53:27 AM
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an interesting story about a possible Naka candidate

wired.com

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From: Savant8/22/2019 8:59:37 PM
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Flooding in China hits mining operation

twitter.com

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From: Elsewhere9/5/2019 5:58:13 PM
1 Recommendation   of 810
 
Hamilton or Satoshi?


Reid Hoffman’s New ‘Hamilton’-Inspired Crypto Rap Video Is Straight Fire
coindesk.com

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From: SI Ron (Soup Nazi)10/9/2019 1:48:47 PM
1 Recommendation   of 810
 

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