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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Hi all, Has anyone withdrawn with bitcoin a far amount of money (10k+?)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
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A look inside America's largest Bitcoin mining operation ...
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