Taxes Cryptocurrency Atm's are comming!

[FelipeMex]

Bitcoin atm's are going to be installed soon!

 

[Fetiches]

Yes, they are coming, however, with the outrageous fees they will be charging, not many will be buying.

 

[PoulCess]

i'm trying to find ways to use crypto to get money out of the country. an exchange would be ideal but haven't been able to find a local exchange i can use as a US citizen. perhaps these ATMs might work.

 

[PaulCost]

ATMs likely charge something like 5% or more as a fee for using it. The operator has to make money and protect from volatility.

 

[PaulCost]

Even if you believe Bitcoin is a ponzi it is nowhere close to running out of greater fools. Never under estimate the stupidity of people. Claims of it going to $50k is likely not impossible.

 

[GerardX]

I don't discount bitcoin falling to the range of 3k-5k before going up gain and reaching 20k.

 

[BenColins]

Even if you believe Bitcoin is a ponzi it is nowhere close to running out of greater fools. Never under estimate the stupidity of people. Claims of it going to $50k is likely not impossible.

Then there is McAfee who said he'd cut off an eat his own penis if buttcoin didn't hit $100k within (was either this year or next year). Doubters asked if he would add salt!
Plain fact is, as you stated, when more suckers are lured to the flame, governments will begin collecting their share by taxing it. As of today, the skeptics are in the majority..... unless you're into it at $15,000 and praying religiously for a miracle. Good luck if you're in.

 

[PaulCost]

Then there is McAfee who said he'd cut off an eat his own penis if buttcoin didn't hit $100k within (was either this year or next year). Doubters asked if he would add salt!
Plain fact is, as you stated, when more suckers are lured to the flame, governments will begin collecting their share by taxing it. As of today, the skeptics are in the majority..... unless you're into it at $15,000 and praying religiously for a miracle. Good luck if you're in.

Government is already taxing it. At least all governments I am familiar with. People may not be reporting all their gains, but eventually tax agencies will have the info and pursue more of them.

 

[BenColins]

Government is already taxing it. At least all governments I am familiar with. People may not be reporting all their gains, but eventually tax agencies will have the info and pursue more of them.

Yes, there are tax laws regarding bitcoin in most countries.

 

[earlyretirement]

Yes, there are tax laws regarding bitcoin in most countries.

Absolutely, the largest depositories like Coinbase in the USA are reporting them.

wrangler, just out of curiosity, did you sell any near the top? I know several people that bought it early and rode it up and then rode it back down. I guess if you got in early and sitting on huge gains you are still up a lot. But did you offload any on the way up? On the other end of the spectrum I know many that got in early but sold all of it WAY too soon.

Do you use them regularly? I was just curious.