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Nephila
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#126
Old 04-02-2018, 04:38 PM

Yes. It's because old money bought some lately and anonymous is trying to knock em' down.

hummy
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#127
Old 04-02-2018, 04:40 PM


some people lost so much though
I would be in such a panic
yaya for being too poor
to own any bitcoins

secretdae007
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#128
Old 04-02-2018, 04:59 PM

I am not one for bitcoin-esque currency. I recently read a reddit thread where the guy bought bitcoin, took it out and bought some other up and coming currency. The guy didn't realize he needed to pay taxes on the money he got from selling bitcoin and now owes a lot of $$ to IRS.

hummy
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#129
Old 04-02-2018, 05:10 PM


oh I didn't know that either

secretdae007
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#130
Old 04-02-2018, 05:13 PM

Well, you owe money for everything you made above and beyond your initial investment usually. Example: I put $100 into Apple. Apple stock doubles and I take the money out (now $200). Even if I invest this money into another stock, I still owe taxes on $100 because that is money I haven't paid taxes on yet but it is essentially income for me (even if I reinvested it). Now if the Apple stock didn't do anything (stayed at $100) and took it out, I wouldn't owe anything because I have already paid taxes on the money before I invested in the stock.

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#131
Old 04-02-2018, 05:15 PM


I just hadn't thought of that part of stocks

secretdae007
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#132
Old 04-02-2018, 06:22 PM

Yeah, well he bought the bitcoin a few years ago (think he put in $5k) and then took it out at like $120k to reinvest. Unfortunately, new investment didn't due so well and is now valued at $50k or so. But he owes like a lot in taxes from the 115k he got in income from selling his stock.

Also, he used all his savings to make the first investment (because his friends told him to do it). That was his first mistake.

It's the same when you earn interest on checking/savings accounts. You need to pay taxes on that but for some people (such as myself), you don't make enough in interest to be required to account for it. I probably made like $4 in interest last year because those types of accounts make like 1% on a good account.

Basic summary: If you are going to invest in things, don't do it half afrodonkey.

Last edited by secretdae007; 04-02-2018 at 06:24 PM..

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#133
Old 04-02-2018, 06:42 PM


it amazes me ow much money was actually earned
and then lost so quickly. I would be petrified!

yeah, I just didn't think it through about paying taxes

secretdae007
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#134
Old 04-02-2018, 06:49 PM

Yeah, that is why he turned to reddit for help... And Reddit was like "Lol, hire a professional please."

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#135
Old 04-02-2018, 06:55 PM


I agree. hire a professional please!

Amane
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#136
Old 04-02-2018, 09:17 PM

THERE IS NO CRUELTY LIKE AN ICE-COLD DRINK DRIPPING DOWN THY SHIRT AS THOU TAKEST A DRINK.

hummy
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#137
Old 04-02-2018, 09:24 PM


onto a clean white shirt awww

Amane
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#138
Old 04-02-2018, 10:24 PM

Nope. This is a grey and black housedress that sayeth "Nobody Asked You" in cursive.

hummy
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#139
Old 04-02-2018, 10:42 PM


I kills you

R u b y
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#140
Old 04-02-2018, 11:20 PM

Quote:
Originally Posted by hummy View Post

I kills you
You sound like Jeff Dunham's Achmed

hummy
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#141
Old 04-02-2018, 11:22 PM


Ru reads hummy's minde O.o

R u b y
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#142
Old 04-02-2018, 11:23 PM

Quote:
Originally Posted by hummy View Post

Ru reads hummy's minde O.o
So that's two quotes I've gotten right now xD

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#143
Old 04-02-2018, 11:23 PM

What art thou saying?

hummy
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#144
Old 04-02-2018, 11:29 PM


love DAE

 


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