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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: FIFO_kid2 who wrote (65598)	12/5/2020 5:09:24 PM
From: Madharry	1 Recommendation Recommended By Nya_Quy Read Replies (2) \| Respond to of 78817

I love your post. lots of wisdom there. I am probably wrong but I see bitcoin as the tulip craze of our age except that it benefits crooks and and tax evaders. I personally do not want to be a bitcoin bag holder when the fad fades away. To me it makes way more sense to have a unit currency that is exchangable for a basket of stocks or natural resources . of course that would mean that the currency has to backed by something. If I were a supermarket chain I could offer a currency exchangable for coffee, eggs bacon and potatoes call them breakfast dollars!

To: FIFO_kid2 who wrote (65598)	12/5/2020 5:29:23 PM
From: Paul Senior	1 Recommendation Recommended By Jurgis Bekepuris Read Replies (1) \| Respond to of 78817

cryptocurrency. How does the USA tax aspect work? I assume something that trades like GBTC is obviously going to be reported by brokers. But do brokers keep buy and sell crypto info and report it to IRS as they do with stocks? I assume gov't considers crypto buy/sells similar to a currency or commodity trade, and so the trader is somehow required to report trades of their short or long term capital gains or losses.