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Withdrawing on Ignition /w Bitcoin (USA) Need some clear instructions, please!
Hi all, Has anyone withdrawn with bitcoin a far amount of money (10k+?) What's the easiest and fastest way to do this to get it into my bank account. I am familiar with bitcoin and how it works for the most part but there's just so many options and what seems like ways to fuck it up that I really need a step by step instructions on what to sign up for to safely withdraw. I know a lot of you out there do this exact thing, so I'd really appreciate any info on the best ways to do it.
I purchased $5000 worth of computer parts to mine Bitcoin. USA tax questions.
I purchased $5000 worth of computer parts to mine Bitcoin. I also pay electricity costs. When do I owe tax for the Bitcoin I mined? AFTER I get my full return on investment ($5k+electricity)? Just looking for some suggestions looking forward to how to plan for filing 2018 taxes next year. Don’t want to get trapped and owe more than I thought.
I have been selling small amounts of BTC locally (cash). Please advise, is there a threshold I can adhere to? Assuming fincen.gov says it correctly, then I can operate at or below $1,000 per day per customer. This would be best considering my state requires at least $100,000 net worth to register. Ultimately I would like to buy a BTC ATM or two, but the possibility of needing to register as a money transmitter is looming over this prospect. It would make more sense to grow the business now and apply for a money transmitter licence once it becomes needed for additional growth. Keep in mind that at this point in the game I move less than $2,500 a week for buyers and profit at this level is less than $5,000 in a year. I work a regular job AND have another business that profits ~$25,000 a year, this business is artificially kept under $30k/y profit due to legislation. I would like to grow a BTC business so I can say goodbye to the regular job, and the BTC business would need to profit at least $30k per year to make this happen, but a money transmitter licence would destroy any hope for early profit and force me to find an investor, which would destroy my ownership if I am required to do so this early in the game. note: don't bother saying "don't take legal advice from /bitcoin", I get it, I am looking for people with personal experience growing a small BTC business in their home states.
The following post by MichaelAllen_Jr is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7qu4p0 The original post's content was as follows:
Are there any good ways to use an IRA to invest in bitcoin? BitcoinIRA.com lets you invest in an IRA using bitcoin, but I just want to rollover an existing fund into a instrument that gets me exposure to bitcoin (yes, I already own some actual bitcoin) I know that Winklevoss ETF is still getting put together. The Bitcoin Investment Trust (BIT) requires that you are an accredited investor (which I am not) Are there any other options out there yet?
03-10 02:43 - 'USA EBAY ACCOUNT WITH BUSINESS PAYPAL=0.02 Bitcoin USA EBAY ACCOUNT WITH PERSONAL PAYPAL=0.01 Bitcoin UK EBAY ACCOUNT PLUS VERIFIED PAYPAL ACCOUNT – BASIC PLUS PACKAG=0.01 Bitcoin UK EBAY ACCOUNT PLUS VERIFIED PAY...' (eps.gs) by /u/GoodJackfruit removed from /r/Bitcoin within 1-11min
[uncensored-r/Bitcoin] USA the Men , Europe the gays
The following post by tradinggwp1217 is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7vekeg The original post's content was as follows:
USA EBAY ACCOUNT WITH BUSINESS PAYPAL=0.02 Bitcoin USA EBAY ACCOUNT WITH PERSONAL PAYPAL=0.01 Bitcoin UK EBAY ACCOUNT PLUS VERIFIED PAYPAL ACCOUNT BASIC PLUS PACKAG=0.01 Bitcoin UK EBAY ACCOUNT PLUS VERIFIED PAYPAL ACCOUNT WITH HIGH LIMIT AD=0.03 Bitcoin
What is Bitcoin? Bitcoin is a popular cryptocurrency based on powerful blockchain technology. Bitcoin relies on a decentralized peer-to-peer network just like the internet, and is not controlled by a bank or centralized authority. All Bitcoin transactions can be viewed publicly on a ledger providing complete transparency. Bitcoin is not a company, just like how the internet is not a company. By clicking I accept below, you understand that Bitcoin.com can only help you with issues related to the Bitcoin.com website and not any issues related to the Bitcoin network. Contact Us. Interested in advertising on Bitcoin.com. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin was designed and created by an anonymous programmer, or possibly group of programmers, by the name of Satoshi Nakamoto. HOW CAN I BUY BITCOINS? There are various places to buy bitcoin in exchanges for another currency, with international exchangess available as well as local. Popular international Bitcoin exchangess include Bitsquare ... Bitcoin ATMs: Bitcoin ATMs act a bit like in-person bitcoin exchanges. Individuals can insert cash into the machine and use it to purchase bitcoin which is then transferred to a secure digital wallet.
Bitcoin: Buying from a Bitcoin ATM Machine using cash ...
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