Crypto currencies 101.....for us neophytes.

[ferniesnow]

Here we go. I am a dabbler and got started last year. I used Shakepay as my entry into the big learning curve. I don't know much about things but I am learning.
I will follow and read as this threads gets longer.

 

[ferniesnow]

I will add this Netflix Documentary. No idea whether it is good/bad or ugly. I will watch it tonight.

81349029

 

[lilduke]

 

[NoBrakes!]

I need to get started... kicking myself for having none or hardly any knowledge on this...

 

[Summitric]

I need to get started... kicking myself for having none or hardly any knowledge on this...

me too... have friends in Germany that bought $1000 worth of bitcoin when it was $1.97 or something like that :0

 

[NoBrakes!]

what does his yacht look like?

 

[Summitric]

I heard he sold some when it was over $60,000 each bitcoin

 

[Med1ogre]

I can't even imagine the gains to be had in the next ten years.
Exciting times. Life changing

 

[mclean]

I remember being in a bar in Halifax 15 years ago and they had a bitcoin bank machine. Can you imagine buying beer with bitcoin back then? That would be a million dollar beer today

 

[Outdoors]

I just learned a new word;neophyte

 

[mikeydoo]

Once you have your crypto wallet set up how do you go about getting these monies onto your debit card? Is there a way to keep big brother from knowing about it?

 

[mikeydoo]

Ok, thx. I will do some research on that angle. Maybe I have no idea on what i'm asking.

 

[lilduke]

Keep in mind this is only bitcoin im talking about so far.

If youre looking for privacy, look into privacy coins.

Monero is the best one at this time imo

 

[mikeydoo]

Do you claim your bitcoin gains on income tax? I see there is a place in the tax disclosure for that now. Or is it like your rrsp, get taxed when it gets spent?

 

[lilduke]

Do you claim your bitcoin gains on income tax? I see there is a place in the tax disclosure for that now. Or is it like your rrsp, get taxed when it gets spent?

Im not giving tax advice here. Talk to your accountant lol

 

[freeflorider]

I think what lilduke said was invisible and anonymous. I guess no tax’s paid in or out on this one.

 

[lilduke]

I think what lilduke said was invisible and anonymous. I guess no tax’s paid in or out on this one.

Oh no thats not what im saying at all. I love paying taxes. Never would even think about not paying king trudeau his cut....


Im sure hed be willing to take part in any possible loss's too. We're in this togther, me and the turd...

 

[ferniesnow]

So there are various exchanges on which to buy crypto and some of those are "secret" and others are capital gains taxable (I assume).
I realize that we are supposed to pay capital gains on all transactions that make/lose us money. But, if we can get crypto without the government knowing, that would be the thing to do.
I would like to learn more about that process.

 

[freeflorider]

Gezzz been almost 12 hours and no report….must be still drinking beer Lol, just bustin your balls this morning lilduke.

 

[ferniesnow]

Gezzz been almost 12 hours and no report….must be still drinking beer Lol, just bustin your balls this morning lilduke.

We all know what "busy drinking beers" in Revy leads to for a charmer like Dan who has spent many a winter full time in a place like Revy.