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Congrats to all Bitcoin holders!!
Wookie, my take on it is, gold is very useless with respect to industrial applications. At most, it's used in minute quantities for electronics. It's divisibility and nonreactiveness (uselessness) gives it it's optimal function for use as money. Bitcoin essentially emulates that through it's divisional properties. However, you have the added benefit of being able to electronically transfer it. Whether that sold you or not, that's my take.
awaiting moderation
WookieMan saysawaiting moderation
@Patrick
WookieMan is accusing me but provides no backup/support/proof for this claim. I am flagging his post because these are accusations without proof and have nothing to do with the topic (Tesla/Bitcoin). Its very toxic.
awaiting moderation
very unprofessional and personal comments by WookieMan.
You made accusations but have no proof.
Correct, Tesla bought 1.5B USD worth of Bitcoin to HODL longterm.
personal
Wait until their earnings report and you will see BTC reported on their balance sheet. Just because someone wishes that Tesla sold Bitcoin doesnt mean it happenend.
in response to his second comment, I need to flag again.
Absolutely no proof/backup/support for your claims and then quickly changing the topic. To say that there are only 12 active users on Patnet is yet another thing that is highly doubtful.
If I bought Bitcoin years ago, have been storing it my hardware wallet, and then pay for a Tesla with it....how would the gov't ever track my capital gains since I'm not selling that Bitcoin for cash on an exchange?
If I bought Bitcoin years ago, have been storing it my hardware wallet, and then pay for a Tesla with it....how would the gov't ever track my capital gains since I'm not selling that Bitcoin for cash on an exchange?
porkchopexpress saysIf I bought Bitcoin years ago, have been storing it my hardware wallet, and then pay for a Tesla with it....how would the gov't ever track my capital gains since I'm not selling that Bitcoin for cash on an exchange?
great question. Could there be regulations that require Tesla to report the crypto purchases/names of buyers?! I dont see how the Gov't can track your Bitcoin purchases if there is no exchange involved other than the seller reporting it.
So no, you cannot buy a car outright with tax free gains via BTC.
The answer is, the seller has probably the obligation to report purchases via Bitcoin.
The question was, how can the gov't track it if the transaction is not facilitated through an exchange (which are obligated to report users and holdings/transactions (KYC regulations etc)
Yes, that's what was said and what happens
yep, I fucking killed it....18x in less than a year!
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https://finance.yahoo.com/news/tesla-buys-billion-worth-of-bitcoin-133029552.html