What do people think about Bitcoin?

Although I've said it before, but because a ton of people get this wrong and so that we have a comprehensive tax post when adding mine to SpaceGhost's comments:

Exchanges have to treat every single transfer as a tax event, this also applies when you transfer your currency from said exchange just to put it in your wallet.
Reason is that they don't know whether you're selling the crypto immediately after it leaves their exchange, so they have to do this for legal reasons and the IRS will have access to that info if they want it.

The IRS would treat this as a tax event and make you pay, so you have to keep a record of the exchange->wallet event to prove that you didn't sell.

 

So I am a little confused on how to use Bitrex or really any exchange site; wish I could just buy some of these coins with USD

 

Coinbase/GDAX.

See my post/ others before.

And use my referral link too ;P

 

BTC-ADA up 35% today, nice sh**.
If some are still not sure of the project, here's a great introduction:

 

Thank god i have money invested in substratum. Fk trump and the FCC. Decentralized web FTW

 

I just cashed out 1/2 of of my LTC.

Watch it go to $1000 now. Lol

 

The concept is definitely interesting, just a bit worried cause they don't reveal any actual development background and also give out extremely little information when people are asking about specific technological aspects.
Heard there's a beta or alpha soon, so maybe that will answer some of the worries.

Other problem I see is that they are making it a necessity for people to own the substratum token, if I understood it correctly. Kind of goes against the freedom and decentralizion idea that I think people would like more for mainstream adoption.

 

I was able to get into XRP at .24 cents so I am definitely loving the run up.

 

I wish I bought more. I got in at $0.24 and then again at $0.54...would have been nice if I wasn't such a chicken ****.

 

I had a set amount of money that I was willing to lose and not be worried. I spread it out between a bunch of coins so I didn't buy that much of it since I spread myself between coins I liked and figured would do something. Now I wish I got more lol

 

I spread about a grand on alt coins including XRP, ADA, IOTA, ARK thanks to some of you fine samaritans on this thread through binance. I just hate that Binance doesnt tell you what you bought in for at the time. It just gives you the percentage of the coin you traded for.

 

Wow LTC.. Pretty crazy

 

I burned myself by investing in LTC at a high instead of XRP at a low. Sigh.

 

Damn. Hit my stop-loss at $260. Good thing I halved at $330.

 

This.

How that hell I am going to do with taxes if I don't know exactly what I paid or sold for?

 

Keep a very detailed spreadsheet.

 

XRP is the current volume leader on Binance. Just wait till the Asian boyz wake and take over trading. Lol

 

I don't buy bitcoins, I sell my dollars.

 

To me.. another day or two. It'll be back up probably. I bought some more at $350 like a noob and will look to dump it once I break even.