The Bitcoin ATM looks really nice!

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  • dyna mo
    just a fucking jerk
    • Dec 2008
    • 68184

    #31
    Originally posted by L-Pink
    No. The profit, if any, is being taxed not the bitcoin.

    Also the profits on stocks are taxed but shares of stock aren't accepted as tax payment either.
    when shit hits the fan, the irs will take your stocks/investment portfolio/car/jewelry and sell them right? couldn't the irs seize an investment account and take the funds? wouldn't/couldn't they do the same with btc account?

    Comment

    • epitome
      So Fucking Lame
      • Jun 2009
      • 12156

      #32
      So now when people want to buy an account at one of the file lockers or drugs on Silk Road they can go straight to an ATM?

      Comment

      • Dirty F
        Too lazy to set a custom title
        • Jul 2001
        • 59204

        #33
        Originally posted by epitome
        So now when people want to buy an account at one of the file lockers or drugs on Silk Road they can go straight to an ATM?
        Sure. It's almost like real money. Just still a bit more difficult to buy stuff with it.

        Comment

        • dyna mo
          just a fucking jerk
          • Dec 2008
          • 68184

          #34
          Originally posted by epitome
          So now when people want to buy an account at one of the file lockers or drugs on Silk Road they can go straight to an ATM?
          well, first they're going to have to figure out how to get to silkroad, then figure out bitcoin accounts, then go to the atm!

          Comment

          • Dirty F
            Too lazy to set a custom title
            • Jul 2001
            • 59204

            #35
            Seriously, when will all you people get over the fact that illegal things are bought with Bitcoin. Think about it for a second. It's quite pathetic, don't you think?
            Unless ofcourse you won't touch any other currency that is used for illegal things.

            Comment

            • epitome
              So Fucking Lame
              • Jun 2009
              • 12156

              #36
              Originally posted by Dirty F
              Seriously, when will all you people get over the fact that illegal things are bought with Bitcoin. Think about it for a second. It's quite pathetic, don't you think?
              Unless ofcourse you won't touch any other currency that is used for illegal things.
              Maybe people are just giving you a hard time like you give the front page a hard time with all the threads? Relax. Most people are just having some fun with you.

              Bitcoin will become more legitimized once it has more acceptance but it has a long way to go. It is safe to say though that there isn't a single person on this board that doesn't know about Bitcoin.

              Comment

              • dyna mo
                just a fucking jerk
                • Dec 2008
                • 68184

                #37
                does the average schmoe even know how to use a filesharing site? i don't, i know it's a matter of looking up the instructions or whatever, but i couldn't be bothered.

                i really don't see a sophisticated crypto-currency FACILITATING new illicit transactions. it's not anonymous ultimately. especially cashing in and out.

                maybe it will be at some point, but i'm just guessing like everyone else is right now.

                Comment

                • DWB
                  Registered User
                  • Jul 2003
                  • 31779

                  #38
                  Originally posted by dyna mo
                  when shit hits the fan, the irs will take your stocks/investment portfolio/car/jewelry and sell them right? couldn't the irs seize an investment account and take the funds? wouldn't/couldn't they do the same with btc account?
                  The IRS currently can seize anything with your name on it if you owe them money and they want to take it.

                  They took a little over $5000 out of my bank account many years ago (15+ years ago) because my payment to them was late. It was sent on time but it was either lost in their system or in the mail, so they decided it was late and helped themselves. I got the notice after they took the money.

                  As I'm sure most of you do to, I know some people they have taken everything from. Farm, land, home, cars, business, you name it. They literally ruin lives and families over monopoly money that the FED can print at will.

                  African slaves had to give 100% of what they produced to their masters. Now, as free range slaves, Americans give 20 - 50% of what they produce and earn to their master. And instead of being physically abused, their lives are ruined in other ways if they disobey, often losing 100% of what they own for being disobedient slaves. But how nice of them to allow us to keep a large share of what we produce and earn. That is mighty white of them.
                  Last edited by DWB; 04-28-2013, 12:22 PM.

                  Comment

                  • dyna mo
                    just a fucking jerk
                    • Dec 2008
                    • 68184

                    #39
                    Originally posted by DWB
                    The IRS currently can seize anything with your name on it if you owe them money and they want to take it.

                    They took a little over $5000 out of my bank account many years ago (15+ years ago) because my payment to them was late. It was sent on time but it was either lost in their system or in the mail, so they decided it was late and helped themselves. I got the notice after they took the money.

                    As I'm sure most of you do to, I know some people they have taken everything from. Farm, land, home, cars, business, you name it. They literally ruin lives and families over monopoly money that the FED can print at will.

                    African slaves had to give 100% of what they produced to their masters. Now, as free range slaves, Americans give 20 - 50% of what they produce and earn to their master. And instead of being physically abused, their lives are ruined in other ways if they disobey, often losing 100% of what they own for being disobedient slaves. But how nice of them to allow us to keep a large share of what we produce and earn. That is mighty white of them.

                    i hear ya, in rereading my question, the way i wrote it implied a typical payment, i think that's prolly how L took it now that i think about it.

                    but i still wonder if they would seize a bitcoin account. sure they would right? of course. duh! right?

                    Comment

                    • epitome
                      So Fucking Lame
                      • Jun 2009
                      • 12156

                      #40
                      Originally posted by dyna mo
                      does the average schmoe even know how to use a filesharing site? i don't, i know it's a matter of looking up the instructions or whatever, but i couldn't be bothered.

                      i really don't see a sophisticated crypto-currency FACILITATING new illicit transactions. it's not anonymous ultimately. especially cashing in and out.

                      maybe it will be at some point, but i'm just guessing like everyone else is right now.
                      I would say they do. Google any movie title, arrive at a file locker, slowly download a video and be presented with a way to speed it up drastically and download just about anything you want. If they know how to download a video from anywhere else they will know how to download from a file locker.

                      Right now Bitcoins may be a lot of hassle but if they keep progressing it will be as easy as buying a prepaid debit card, IMHO.

                      Comment

                      • dyna mo
                        just a fucking jerk
                        • Dec 2008
                        • 68184

                        #41
                        Originally posted by epitome
                        I would say they do. Google any movie title, arrive at a file locker, slowly download a video and be presented with a way to speed it up drastically and download just about anything you want. If they know how to download a video from anywhere else they will know how to download from a file locker.

                        Right now Bitcoins may be a lot of hassle but if they keep progressing it will be as easy as buying a prepaid debit card, IMHO.
                        i thought you had to know how to connect up all the files and more, i wasn't aware you can just download and click watch.

                        it's been a while since i looked into all that though.

                        Comment

                        • L-Pink
                          working on my tan
                          • Mar 2005
                          • 39151

                          #42
                          Originally posted by dyna mo
                          when shit hits the fan, the irs will take your stocks/investment portfolio/car/jewelry and sell them right? couldn't the irs seize an investment account and take the funds? wouldn't/couldn't they do the same with btc account?
                          The IRS has seized racehorses before. That doesn't mean if I owe taxes I can back a trailer up to an IRS building unload Seabiscuit for money owed.

                          .

                          Comment

                          • dyna mo
                            just a fucking jerk
                            • Dec 2008
                            • 68184

                            #43
                            Originally posted by L-Pink
                            The IRS has seized racehorses before. That doesn't mean if I owe taxes I can back a trailer up to an IRS building unload Seabiscuit for money owed.

                            .
                            i see what you are saying now. i said "would they accept" them i was actually wondering in a more general sense, for instance, if it came to it, would the canadian gov seize a bitcoin account and cash it out?

                            Comment

                            • DWB
                              Registered User
                              • Jul 2003
                              • 31779

                              #44
                              Originally posted by dyna mo

                              but i still wonder if they would seize a bitcoin account. sure they would right? of course. duh! right?
                              Historically, they take cash and things they can sell. If they can connect a Bitcoin account to you through an exchange company and you are using an online wallet or no wallet at all, it may be fair game, but I think right now it is too early for that. Maybe down the road once they catch up they would try something like that. And that is a big maybe.

                              The way to avoid that would be to keep 100% of your Bitcoins in an offline wallet. If they can't touch it, they can't take it.

                              Comment

                              • dyna mo
                                just a fucking jerk
                                • Dec 2008
                                • 68184

                                #45
                                Originally posted by DWB
                                Historically, they take cash and things they can sell. If they can connect a Bitcoin account to you through an exchange company and you are using an online wallet or no wallet at all, it may be fair game, but I think right now it is too early for that. Maybe down the road once they catch up they would try something like that. And that is a big maybe.

                                The way to avoid that would be to keep 100% of your Bitcoins in an offline wallet. If they can't touch it, they can't take it.
                                yup, the thing is, if they found a huge cache of cocaine, they are not going to sell it for cash to settle a tax bill. if they think bitcoins are just as stinky, they won't sell em, hell, they might not even let you sell them for cash to pay a tax bill right?

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