Only 802 People Paid Taxes on Bitcoin Profits, IRS Says

Re:Only 802 People Paid Taxes on Bitcoin Profits, IRS Says by nwatson on Tuesday September 12, 2017 @08:55PM (#15234562)

I paid capital gains on my sale of 325 BTC and used the profits to buy a Butterfly Labs Monarch mining machine.

I was unlucky ... BFL never got their engineering straight and the machine never appeared.

I was lucky ... I demanded a refund early and got back a full cash refund.

I was unlucky ... 325 BTC today would be worth US$1.35 million had I just held on instead of buying a BFL machine.

I was lucky ... my 325 BTC was held at Mt Gox and we know those BTC all vanished.

So ... I'm glad I made some decent gains back in the day, but I sure wish I still had the 325 BTC in a legitimate and safe form.

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Re:Only 802 People Paid Taxes on Bitcoin Profits, IRS Says by hossbeast on Tuesday September 12, 2017 @10:49PM (#15235128)

Thanks for sharing (it's genuinely interesting) but seems unrelated to GP's post.

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Re:Only 802 People Paid Taxes on Bitcoin Profits, IRS Says by otp124 on Wednesday September 13, 2017 @02:24AM (#15235976)

So, did you pay taxes on the BTC sale? I appreciate your story, but it's not really relevant. Did you comment on the wrong post?

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Re:Only 802 People Paid Taxes on Bitcoin Profits, IRS Says by lathiat on Wednesday September 13, 2017 @06:11AM (#15236927)

> I paid capital gains on my sale of 325 BTC and used the profits to buy a Butterfly Labs Monarch mining machine.

Did I miss something?

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