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1585012 No.1585012 [Reply] [Original]

Is buying just one bitcoin good investment

>> No.1585022
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1585022

>>1585012
>buying
>not mining

>> No.1585031

>>1585022
>2016
>mining

>>1585012
yes

>> No.1585042
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1585042

>>1585022 bitcoin.com says buy

>> No.1585050

>>1585022
mining on current year?, you don't know a shit about bitcoin buddy.

>> No.1585064

>>1585012
investments are good or bad independent of the quantity that you invest (for the most part). That's why we talk about ROI, not "guys I made a million dollars".

If you invest 100 million and cash out ten years later with 101 million you didn't do well because you made a million, you sucked dick and lost money relative to inflation because you earned 1% returns.

To answer your question, almost certainly. BTC is fine if you intend to hold for awhile

>> No.1585084

And can i turn bitcoin back to cash?

>> No.1585089

>>1585084
yes. Register on an exchange
Bittrex, Coinbase, etc

Then you can purchase BTC (and other cryptos) with your bank balance and also the other way around

>> No.1585134

>>1585089 cool

>> No.1585136

>>1585134
when you convert back to cash though you are supposed to pay taxes on capital gains

>> No.1585148

>>1585136

Be craftier than that, anon. Think harder.

>> No.1585195
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1585195

>>1585136

>> No.1585198

>>1585022
>>1585050
every day someone learns their lesson about samefaggin

>> No.1585206

>>1585148
elaborate

>> No.1585213

yea, but you're not gonna get rich. I own like 5 and use them once in a while for buys

>> No.1585255

>>1585136

Sell it for cash on localbitcoins.com or equivalent

>> No.1585388

>>1585136

You gotta report if u get a 1099, or if u cash out thru a vendor that pays taxes.

I'm not saying cheat on your taxes but I'm saying it is much more difficult for the irs to track an OTC cash exchange. How will you make one of those? Go to a meetup, go on Craigslist. Meet in a public place. Bring a counterfeit pen.

Itemize your deductions. Do you mine? Those miners are an investment expense. That electricity is an investment expense. Do you have a dedicated room for mining? That is an expense. Since you didn't cash out, that is a capital loss. Deduct that shit.

Did you make any bad exchanges on an exchange? That's a capital loss. Your miners aged over time, they depreciated in value, especially with the happening. Deduct that shit.

The irs even helps you with this, they have a whole publication on their website that lists every single deduction you can make and how it is made.

If you can plausibly make an explanation for a deduction or a loss that fits the parameters the irs provides, use it to the hilt. They intentionally word those things a specific way to give you room to be creative. It's all about being reasonable and sly while maintaining your honesty.

>> No.1585414

>>1585064
>that math
buddy you need help.

>> No.1585420

No it's way over priced and a crash is imminent