Home Forums Hunting & Shooting Hunter's Campfire BTC what separates it from everything

Thanks for posting. I essentially know nothing about investing, except that I HAVE to do it if I'm ever going to retire, and at my age the clock is ticking loudly, so I've been trying to listen and learn lately.

Do know this. Government doesn’t have the means to tax, trace, or otherwise regulate crypto currencies. How long do you expect they will stand by and allow this unregulated trading to go on?

Not true

Please feel free to correct me.

Go slow, be smart, don't try to force anything. It's only to late when you are dead.

All the approved American platforms report! Now if you let's say invest $50K into BTC and then barrow say $25K on your BTC assets that is not taxed! Key is do not sell if you have taxation issues.

The governments of the world and their interconnected central banks cannot and will not allow an alternative currency outside their control.

Thank you, sir. I stand corrected. It was my understanding that crypto was gaining popularity with the dark web crowd.

Really? Because it already exist and some of the worlds CB are embracing it already.

It maybe! But you are responsible for reporting and it is a felony offense if you don't. I think there is a lot of miss information out there. There are loopholes but I assure you they are going to get tightened up in no time.

Watch the video with Saylor it explains a lot. Also you might want to checkout Investment Answers on Youtube he has a lot of great content and is very conservative.

You are specifically asked on your annual federal tax form if you hold or have dealt in crypto currencies in the past year.

Lying by commission or omission on your taxes can carry some heavy penalties.

Again, caveat emptor.

If your assets are required to be disclosed in a bankruptcy or creditor exam in the case of a judgement against you or any other legal procedure or forfeiture of assets, would you be committing a crime to not disclose ownership of crypto?

YES

Absolutely.

Block chains are just like stocks. BTC there may be ways to shield it, however the government maybe able to penalize you by some other means. I am not an accountant, tax pro, or lawyer.

If you lie and get caught, you’ll pay dearly and have something follow you for the rest of your life.

But I’m stating the obvious as it regards the Feds.

The Key with BTC is don't ever cash out, there is no need to cash out. Just barrow off your BTC assets!

There's tons of crypto currencies out there for all level of investors. Number 1 in popularity for the last few weeks is shiba Inu and it's made some remarkable gains way faster than some of the more established ones like bitcoin. It's the one I would recommend the most to new investors. It's a long term hold in my opinion to see the big payoffs with little investment capital. Despite it's big gains it's still in what I would consider the ground floor, it's been touted as the people's coin because it's affordable and has a huge support demographic. No doubt the op will use this opportunity to flame away at me like last time, lol. I'm up 450% in two months and it's just getting going.