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Where will Bitcoin be on 9/4/2018?
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9 members have voted
| December 17th, 2017 at 10:38:04 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
People still go to Europe? Why. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| December 17th, 2017 at 11:48:34 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Australians made 8.85 million trips last year for a population of 24 million. Europe 16.18%, New Zealand 13.60%,Indonesia 12.14% and USA 10.89%. Australians are 60% more likely to travel to Europe than Americans despite the fact that the trip is considerably longer
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| December 18th, 2017 at 3:01:40 PM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
Where would you suggest going to as an alternative? |
| December 18th, 2017 at 3:38:57 PM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18204 | Well, I just cashed out poker winnings for the first time ever and used Bitcoin. No muss, no fuss. Just gave my public key. Best part is it was free money that Bovada gave me for I have no idea why and I built up. Thanks for the referral there, Wiz. Better than best part is this means no federal laws were broken as I did not transfer "money." No check from a bank in Zanzibar or wherever to hope can be cashed. No wait. It happened overnight. Do yourselves a favor and get your BC off the exchanges, get a wallet. The President is a fink. |
| December 18th, 2017 at 4:13:38 PM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
What will happen if/when you want to convert the BC to cash? Or will you hold and plan to spend in BC once it becomes more widely accepted as a form of payment? |
| December 18th, 2017 at 5:20:01 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Air new Zealand flies to Buenos Aires (a tiny bit closer than LAX). Buenos Aires is more European than most cities in South America and is considerably cheaper. The Wizard has blogged about Buenos Aires. |
| December 18th, 2017 at 5:37:43 PM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18204 |
At the moment I will keep it as a store of payment. If it has the same year next year as it does this I will look for a contractor I can pay in BC to put on a deck. Otherwise I just move it to coinbase then into my account. I do not think we are in a bubble yet, too few people even know what it is yet. I have been making a little though unscientific test. When I deal a party, we have red and green chips. Red are 1 and green are 5. Of course it does not matter 5 what, it is just units. Sometimes a client will call it $5,000. Most do not bother. So I started saying "the red are an Etherium and the green are a Bitcoin." About 1 in 5 people even understand at this point. At the very most. The President is a fink. |
| December 18th, 2017 at 6:30:34 PM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
I think the chances of your government allowing a situation like that to occur long term would be close to zero. I have no idea what the rules are currently so obviously you will no more about what you can get away with but if bitcoin becomes more widespread as a currency and as a form or payment they would be crazy not to legislate so as to take a piece of the pie the same way they do when someone profits from speculating/earning money in any other currency. For example, if your contractor decided to accept Australian dollars as payment for the deck I would assume he is required to declare that as income? How far can the eyes of the IRS see? Could you open a bank account in Canada and withdraw from a Canadian based exchange into the account? Just using Canada as an example but really any foreign country. Probably one without a tax treaty. Agree it’s very hard to say whether it’s a bubble. I read an article the other day asking how can we say something is a bubble without knowing what it’s really worth? Does anyone know the true value of these currencies yet? I don’t think so. |
| December 19th, 2017 at 2:59:00 AM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18204 |
His income declaration is his business. I declared the income when I bought the Bitcoin. It gets murky. But say I bought a lot of C$ when the price was low. It gets strong and I say to the contractor, "Mind if I pay you in Canadian?" He is going on a trip so is happy to do so. Do I have to pay "tax" on this? All I did was barter.
It is currently next to impossible for an American to get any foreign bank account. Most foreign banks will not touch you due to draconian laws since 9/11. At least this is what I have heard. When I went to dealer school, an overseas account was a huge, huge red flag. One woman was a foreign national so given a pass. But the attitude is that you must be up to no good. The President is a fink. |
| December 19th, 2017 at 4:55:30 AM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
For sure it’s his business to declare it or not. Of course like many/most businesses of that nature he may not declare it because he knows he can get away with a certain amount of under the table work. My point is that legally he would have that requirement to declare it as income and therefore the fact that the transaction took place in a currency other than USD would be irrelevant. I’m not sure about in the US but I know that in Australia I wouldn’t have much luck (read none) arguing that I was bartering by transacting in a foreign currency. I have a hard time believing any government will allow a chryptocurrency economy to flourish without stepping in and regulating, monitoring and of course getting their tax revenue. I guess take advantage while you can.
Interesting. I would assume these are banks that also operate businesses within the US? Not necessarily offering deposit accounts for retail clients but some form of banking business. Speculating of course but it may be a case of them being told if they want to operate there they can’t offer overseas accounts to US citizens. Otherwise there would be no reason for them not to do business with you. |