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Bitcoin Supply
Remember when nobody wanted them price chart.
Posted on 02/08/2021 10:55:44 AM PST by mowowie
Elon Musk has launched a pair of potential game-changing shifts for bitcoin after Tesla announced it had invested $1.5 billion and said it will start accepting the cryptocurrency as payment for its cars in the near future.
Bitcoin's price surged 10 percent to a record-high of $44,000 soon after Tesla's disclosure on Monday morning. Shares of Tesla were up 1.8 percent in early morning trading off the back of the announcement.
The announcement, which was buried deep in a SEC filing, follows several social media posts by Musk that have sent the currency and other assets, including meme-based digital currency dogecoin, higher in recent weeks.
(Excerpt) Read more at dailymail.co.uk ...
Does anyone know anybody who has made a purchase of an item using bitcoin?
Musk bought a week or two ago at a lower price. Then he tweets his love for bitcoin....lemmings rush in...he will sell for a profit...a no-brainer for him.
My son has bought stuff on Overstock. He has also purchased things elsewhere, I think he bought some gold with it. As I recall, he has also used it to buy gift cards which then can be used to buy most anything.
I accepted payment of $10.00 in Bitcoin last year. It’s now quadrupled in value. Unfortunately, I don’t have an account on an exchange to sell it, and the closest Bitcoin ATM is all the way across town.
Is the rising value of bitcoin considered capital gains if one owns it.
Would i get taxed in dollars by the government?
Like stock, you incur capital gains on Bitcoin when you sell and if the value has increased, not when the paper value changes.
Thanks Wayne
So Musk just made 150M on tulip bulbs, by buying tulip bulbs at peak demand. Dude is a GOAT.
Tesla invested 1.5 billion or about 5 bucks to you and me. No he is not attempting to pump and dump for 5 bucks. Musk believes in crypto and is helping paving the way to sell more cars.
So if i transferred bitcoin to Telsa for a new car i would have to pay both capital gains and sales tax?
I’ve done it.
Got my Bitcoin when I was in Saudi working because sometimes my credit card wouldn’t work from that location. So made a couple of internet purchases that way.
Two years ago people here were screaming that. Sorry guys bitcoin is not tulips.
Other than the trading of it, what else sustains the value of a Bit Coin? What backs it’s value? The US government backs the US dollar but it is no longer backed by gold bullion as it once was. I’ve always heard that words are cheap.
Treating the fluctuating price as a capital gain is their last weapon to try to delegitimize it as a currency.
This is why Dogecoin is now approaching a dollar ...
I don’t know much about BC but i did read somewhere that it is finite and eventually it will max out at something like 22 million coins (i dunno)and that is it.
That makes it a somewhat rare commodity i guess.
i dunno...
Yes, it would be like selling stock to buy it with cash. Cap gains + sales tax.
Buy now so you can watch half your money disappear again.
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Bitcoin Supply
Remember when nobody wanted them price chart.
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