I guess you didn’t read the post I was replying to.
“Good to see IRS crackdown on Bitcoin gains. Ive paid my fair share of taxes on my gains and so should the Bitcoin traders.”
stock market
- Thread starter Oildudeny
- Start date
“Good to see IRS crackdown on Bitcoin gains. Ive paid my fair share of taxes on my gains and so should the Bitcoin traders.”
Trust me on this....
I know 2 people that played games with the IRS and lost, it wasn’t funny once they had to finally answer to the Federal Government.
IRS is teaching their Bloodhounds to ‘sniff the trail’ of Bitcoin and Crypto $$$ gains. It’s no coincidence that Gary Gensler is chairman of the SEC and was teaching blockchain technology and digital currencies at MIT.
I‘m not jealous of any folks making a killing on Bitcoin or Cryptos, just stating the fact that the IRS wants to put their hands in these folk’s cookie jar.
Coinbase stock is now traded on the Nasdaq exchange and I bought a few shares of COIN.
What if Coinbase gets a subpoena from the government to turn over the IP address of all their users here in the USA ?
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I know 2 people that played games with the IRS and lost, it wasn’t funny once they had to finally answer to the Federal Government.
IRS is teaching their Bloodhounds to ‘sniff the trail’ of Bitcoin and Crypto $$$ gains. It’s no coincidence that Gary Gensler is chairman of the SEC and was teaching blockchain technology and digital currencies at MIT.
I‘m not jealous of any folks making a killing on Bitcoin or Cryptos, just stating the fact that the IRS wants to put their hands in these folk’s cookie jar.
Coinbase stock is now traded on the Nasdaq exchange and I bought a few shares of COIN.
What if Coinbase gets a subpoena from the government to turn over the IP address of all their users here in the USA ?
.
Crypto in China is a bit different than in the US. They are not a free exchange with the international world and for their money to go out they have annual limit or a once in a lifetime immigration clause. Basically if you immigrate out you can bring your money, but if you are staying and doing business you can probably bring out like 10-20k USD a year.
Many have been using foreign trade to bring money out, or do trade as a way to do money smuggling as a main business. So far from what I heard they cost about 20% to bring it out through these channels, so Crypto is one way to burn the money domestically then sell them oversea. If you tax the heck out of them it would really hurt its value, and they may just go back to "export" business instead.
Ever see a truck running back and forth across the border 7 times a day without unloading? They only want to clear custom and then export the money.
Many have been using foreign trade to bring money out, or do trade as a way to do money smuggling as a main business. So far from what I heard they cost about 20% to bring it out through these channels, so Crypto is one way to burn the money domestically then sell them oversea. If you tax the heck out of them it would really hurt its value, and they may just go back to "export" business instead.
Ever see a truck running back and forth across the border 7 times a day without unloading? They only want to clear custom and then export the money.
Oil, gold, USD, real estate, catalytic converters, covid vaccines, spac, corn, stocks.
https://www.investopedia.com/terms/s/spac.asp
AKA, blank check company, shell company.
Basically you hire a celebrity to IPO a cash only company, give it a couple years to buy a private company that wants to go IPO but cut corner on regulation and paperworks, then afterward sell the company back to the owner of the private company for a profit. In other company they would call it selling a public company to a private company and then turn the private company public.
Typically because you are cutting corner instead of going IPO, you will pay a premium and you may have something to hide. This has a higher probability to blow up than the traditional IPO.
My post back in March 2021 talking about the economic slowdown in 2019 before Covid..........
I watch truckers like SuperTruckerDan on YouTube.
In this video he is hauling 45,000 pounds of copper and it’s an excellent bellwether of manufacturing in the USA.
Long haul big rig 18 wheel truckers (especially the flatbed drivers) that crisscross the USA for weeks at a time see the economy slow down before its reported on the financial news networks. This type of info is not taught in college MBA programs.
When truckers say the economy is slowing down...... as guaranteed as the sun will rise tomorrow morning, the economy is slowing down.
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I watch truckers like SuperTruckerDan on YouTube.
In this video he is hauling 45,000 pounds of copper and it’s an excellent bellwether of manufacturing in the USA.
Long haul big rig 18 wheel truckers (especially the flatbed drivers) that crisscross the USA for weeks at a time see the economy slow down before its reported on the financial news networks. This type of info is not taught in college MBA programs.
When truckers say the economy is slowing down...... as guaranteed as the sun will rise tomorrow morning, the economy is slowing down.
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Dave, I think you are touching on Macro Economics. Yes!
Warren Buffett used to use train traffic, I think these days people uses cardboard boxes, but any indicators would work as long as you are experienced and comfortable with it.
Copper is a good indicator.
Thanks Dave. Good information.
I'm doing a little buying here and there, but no significant buying other than parking my money in reasonably well managed companies. No leverage or anything just anything but too much cash in the bank.
Staying out. It’s all retirement stuff anyhow.
I'm an investor not a speculator. I don't trade much and I'm staying invested.
Markets go up and markets go down. Over time they go up, though on average quite slowly.
But I have to admit the current markets are making me nervous. I believe the stock market is overvalued. But if I sold anything what would I do with more cash? I have enough cash in my investment accounts. I've been picking away at real estate investment trusts recently as a hedge against inflation - which I think has a fair chance of erupting.
Increasing my crypto exposure through the new-to-nasdaq HUT mining company. They just mine BTC in canada and keep it around. The crypto dip makes this attractive. I trade it daily as well as hold onto a chunk. HUT used to be a top OTC stock requiring a fee to trade, now its on the nasdaq and trades free. It is not as known/hyped as MARA and RIOT so I personally think it cheaper.
If you want some crypto exposure with no trading costs check out HUT, its been around $3.50 lately, with potential to be in the $4-$8 range with a BTC surge. Crypto is quite risky so know that you are gambling.
If you want some crypto exposure with no trading costs check out HUT, its been around $3.50 lately, with potential to be in the $4-$8 range with a BTC surge. Crypto is quite risky so know that you are gambling.
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