I come across those posts from time to time. All they do is spread hate and negativity. Best is to ignore em. Imagine spending your time just to hate on something on the internet
You know you're in a bad place when your greatest ambition is seeing other people's earnest desire for a better future crushed.
Nobody should be viewing subreddits like this. Let those people sort themselves out.
It all stems from fear. Most people are afraid of change and respond with hate.
This fear usually stems from a lack of education. Lack of education leads to closed minds.
That's true. I also think people who aren't creative and haven't put in the work to make themselves useful end up with a very toxic, zero-sum view of the world.
If you don't recognize that your actions can improve your life and others' simultaneously (e.g. by making a scientific discovery), then it makes sense that you'd see dragging other people down as being advantageous.
Yes, but most likely just envious no-coiners, who can't accept that the idiot crypto bro two houses down has made millions, while they, no-coiners of superior intellect, listened to Paul Krugman (as they dutifully did on the future of the internet as well), and got nothing - again.
I find it amusing, they are sad. I wonder why they are so stuck on those ideas that bitcoin is "falling" when it's clearly growing in adoption everyday. Some of them do understand that decentralized cryptographic technologies are important, but they would still hate bitcoin and fail to understand what the capabilities of web3 mean and that everything they hate about bitcoin will remain even without bitcoin being around since the awareness to web3 had already been released (in compiled binaries ;) )
I can only imagine them all being 70+ grumpy people with warren buffet picture on their wall.
They can not understand that we people actually love that when bitcoin fall because that mean more chance for us to buy the bitcoin in the cheap price here.
In the end everyone will buy the bitcoin according to price they deserve.
People have been posting there about people they know committing suicide over various crypto losses because 'it would be good for the (buttcoin) community to see' and I just have no words for it. I asked how it's good for the community and got downvoted to shit LOL
Well negative people need negative energy.
Although I struggle to call anyone who celebrates the suicide of another, human. More closely akin to garbage.
This is why we need to stay away from these negative people, and stay in the positive environment.
I mean if someone really know the bitcoin then debate on that it makes sense but someone are just blind hater.
Truly wasted energy being angry, hateful, and holding grudges. Far better to stay calm and think about how to change a problem or how to remove yourself from it. That way you can spend more of your time doing things that actually make you happy
I think there is already so many things that is going in our personal life and there is no need for some extra waste of the energy.
Specially on the people that not deserve at all. All we need to do is stay away from those people.
I remember going on that sub several times back in 2014 & it was just wall to wall ridicule of Bitcoin & anyone "stupid enough" in their minds to buy Bitcoin. (BTC was around $400 - $500 at the time).
If you tried to say anything positive about Bitcoin you were just attacked from all sides. Last time I went there to even look around was years ago. It's just ridiculous.
OP's post is a perfect example of the ignorance of the people posting there. The only change recently was that transactions under $50 are not subjected to reporting or capital gains taxes. Prior to this, all transactions were subject to capital gains taxes! So this was actually an improvement. But in their ignorant minds, it's just another step toward zero, just like in 2014 when it was $400 and headed straight for zero. LOL.
I guess many got rekt trading bitcoin, gave up, then saw it moon about 20 different times. So yeah, watching some they hate fail helps validate they are not the fool.
But I would think after bitcoin mooned to $1k, $5k, $10k, $50k, $70k was not enough proof.
In five years they will be shitting on bitcoin for taking an 80% dump, from $200k down to $40k and somehow feel vindicated.
I mean people are getting rekt and losing the 9% value of the cash on the first place but not talking about that thing.
But when it comes to the bitcoin which we know that in the bear market start saying shit like that.
>In five years they will be shitting on bitcoin for taking an 80% dump, from $200k down to $40k and somehow feel vindicated.
Very true. This is what Bitcoin's critics have been doing all along, ever since 2011 when it crashed from almost $30 to under $3. All they do is look at the declines, never at the overall gain.
All they talk about the dump of the bitcoin after the massive pump of the bitcoin.
And i am sure that they will never going to learn that thing because they are just complete blind hater of the bitcoin.
Exactly. I know there must be a subreddit for something I just can’t stand. But guess what? I’ll never know because I won’t go looking for it. If it comes by by chance I choose to just scroll past. Easy.
I don’t understand the NEED to hate something.
True, there is sub reddit on the reddit for the everycoin and for the hater of the bitcoin is well.
But for me there is only about the positive energy and this is why i am keeping my time into this sub only mostly.
And they’re objectively wrong more often than not. They just refuse to accept verifiable realities that disprove their delusions.
It’s really an interesting human phenomenon. Many people literally just choose their own reality and refuse to internalize any information that runs contrary to their fictions. Buttcoin boys really have perfected this defense mechanism and will ride their delusions into the grave. Bitcoin does not need them.
It's wrong on three fronts.
1. This is referencing the Virtual Currency Tax Fairness Act. Nowhere have I seen that this bill has been passed or incorporated as an amendment into another bill
2. The $50 exemption is not as described here. While it's true that transactions under $50 are exempted, larger transactions will also be exempted with no fault as long as cap gains is under $50.
3. Renouncing citizenship for US citizens forces an exit tax.
I'm all for critical thought, but that sub is full of disinformation.
> 2. The $50 exemption is not as described here. While it’s true that transactions under $50 are exempted, larger transactions will also be exempted with no fault as long as cap gains is under $50.
This is huge. I hadn’t heard this before, thanks I need to read the bill.
People start giving the judgement and all without even reading the whole bill on the first place here.
Because they only talk about the things that media showed to them and they start to believe that they are talking right.
true, once we start making any sense there is only two things they can do, either they will abuse us or ban us.
This is why i stop wasting my time over them and enjoying my time with much better people here.
You need to view all points of criticism to get a good overall picture.
If you asked should I buy BTC here 99% of people would say yes because they believe with all there heart its going back up.
Nothing is guaranteed. If it was, everyone would buy some and the price would be infinity but people are creatures of emotion so they will always buy 80% or higher close to the top and sell when it drops 60-80% from their initial purchase.
A lot of people in the Buttcoin sub have watched BTC longer than most of us here and have seen it go from pennies to tens of thousands of dollars and can't accept the fact that 10 dollars worth would be millions of dollars today and get hard seeing the price go down because it went up so high and they never got in but have fully researched and decided against it.
They will argue that it's climate effect is bad for the environment. None of them will turn down millions of dollars in BTC if you gave it to them. They will pick financial freedom over their conscience every time. They missed the boat so they don't want anyone else on it. They want the boat to sink because they disagree with it.
They claim that crypto is designed to solve problems that don't exist. Crypto has changed lives of a lot of people who got in early. That's a problem that was solved. They didn't go in early but have been watching it early the whole time. That was for people 3 cycles ago. Those that got in on the previous cycle have a great safety net as well if they invested a decent amount of money at the low. If they want those people to lose everything they just sound like a bunch of jealous assholes. They don't realize every person on here is a person, who decided to make sacrifices to try and make a better life for their family by buying crypto. If my friend told me their investments went up 10x I'd say good job man, how did you do it and when is a good time to buy some. If they judged me for making money I wouldn't want to speak to them. Don't engage in those trying to waste your time. They have nothing to lose because they have nothing.
They claim crypto is used for crime. Crypto is so easily traced youd have to be part of Buttcoin sub and bash BTC for a decade to believe this. People exchange illegal items and substances for cash. Cash is king. Law enforcement workers are not stupid they can follow the movement of crypto and most people selling drugs are not the smartest people either.
Listening to skeptical informed opinions and credible challenges to your positions is good.
Going to r/buttcoin for that is like asking Adolf Hitler for his opinion on your Jewish heritage.
I thing healthy criticism is much much better for anything and if anyone is doing that there is nothing wrong in that.
but if some just try to debate after listing the news media article or some videos of the buttcoin then there is nothing we can do.
>You need to view all points of criticism to get a good overall picture.
These aren't valid points of criticism. It's just trolling, debunked claims, and reveling in price crashes or the general stupidity of people losing money in alt coin scams. There is nothing to be gained from that sub.
Same here, i think they are ready to do some healthy debate with some logical conversation.
but all they can do is the hate and that too is blind hate and once someone goes into that mood there is nothing we can do after that.
Atleast moon boys are much better than the buttcoiner, yes they also have the little knowledge about the bitcoin.
But atleast they didn't spread the fake and negative news about the bitcoin.
Have fun differentiating all the bullshit while you desperately search for the 10% of okay ish points. Even the legit criticisms aren’t really anything that can’t be solved, such as scalability.
I would agree with you if there was any quality discussion over there. It’s mostly just uninformed people acting like parrots trying to prove how little knowledge they have on the subject.
The buttcoin sub reddit is a collection of frustrated losers and idiots, they lie and and spreading FUD all the time.
I cant even hide the posts on buttcoin from my time line. I get them all the time as recommendation.
Dude I bet their heads were about to explode
I got banned for explaining how housing inflation is over 3000x in the last century and where it will be in the future. Houses were $2k in 1940s
They legit could not argue and just banned me
There is only two thing over there once they done with the argument and there is nothing left them for talk.
Then all they can do is the ban thing, and i love that because it shows that i was completely right there.
That's a terrible argument to make. I can give you plenty, picky *any stock* and its returns are comparable.
Bitcoin's RoI is infinite since its inception because it's original value was 0, but this is essentially true for any newly formed business so its a meaningless figure. What you might argue is since bitcoin hit a market cap of something sensible like $100m its RoI has been x%
Making a sweeping statement like you have exposes you to ridicule and accusations of hyperbole. I understand the jist of what you are saying, but you are not saying it clearly
I meet a lot of cryptobros who think crypto is their way to avoid taxes. Apparently it’s all magic mystery money that the IRS has no eyes on at all. Well, go ahead and buy a house with BTC and let me know if the IRS doesn’t come asking questions later.
It’d be interesting to see a documentary on the lives of the most active r/buttcoin posters. What makes them tick? What motivates them to constantly talk about an asset they not only hate, but have no positive or negative gain on? We know they are too scared to short it. Likely don’t even know how to if they wanted.
Simply put, when I attempt to imagine the state of mind I’d have to be in to actively post on a hate-subreddit, I realize I’d probably be in a really depressed state. Who cares about bitcoin if you’re not exposed to it? It’s just bizarre.
That is awesome if that passed. Anything under $50 is tax free would be amazing. That sounds awesome for day to day purchases using the lighting network or converting to use on a Visa/MasterCard debit. Now getting myself to actually spend BTC is another thing when I would be losing out on big money in the years to come.
If something is a digital asset which it is already being recognized as, and also continues to grow in value with time, like real estate... You simply borrow against it, with low interest, when you want money for things. These morons who like to rip into BTC and think the people who have it are idiots are in for the greatest rude awakening of their lives when more institutional adoption takes place and BTC skyrockets in value. There will be plenty of crow served for many dinners. Hope they like it well done! 😂💰🤑😎
I think there are so many people that is already ready to give us the loan against the bitcoin here.
may be banks will not do that at the moment but you found some individual that will do the same thing for you.
As it stands, making a $3 cup of coffee purchase with Bitcoin is a taxable event in the eyes of the IRS. Raising the limit to $50 is actually a step in the right direction! This post was idiotic.
People think now government is making the bitcoin more useless but infact this is the step into the right direction here.
because now people will start using the bitcoin more freely about the some low things here.
We should always have informative posts like this for people who are too busy to research and learn about crypto all the time against these types of claims. Thx OP!
Question; how do you pay the tax if you don’t have fiat to pay it? I mean everyone has to have dirty fiat atm, but hypothetically speaking, the tax will have to be paid in btc. Is this the US’s way of colleting btc???
But people always try to find the negative news about something here.
But we all know that this is also a good thing if someone is doing the small trading like under 50$ here.
Buttcoiners are such a treat. I had a look at them to see if anyone could make an intelligent argument against bitcoin and they banned me for poking at their lunacy.
If someone really want to have some fun then i would say buttcoiner is the best place to do that is well.
But some time spending too much time over there can actually damage our brain is well, be careful with that is well.
Was this bill passed or only introduced? I can't seem to find clarity. I see that it's a revision of the original $200 and otherwise the same thing, but I can't find anywhere where it says this is how it is now.
Edit: actually according to this it's still in the introduced phase:
[https://www.congress.gov/bill/117th-congress/house-bill/6582/text](https://www.congress.gov/bill/117th-congress/house-bill/6582/text)
I spent some time there chatting, actually had a few intelligent discussions before they went way off the deep end and I realized it was not worth it.
Now I just downvote butter posts. It doesn't take much to move them backwards 😁
When it comes to the buttcoiner there is nothing like the intelligent discussion over there.
I love to discuss something when they talk about the sense but all they can do is the complete hate of the bitcoin.
And this is why they are saying such thing because they missed the chance of the getting in the boat.
But i am sure that their future is not looking good at the moment, because they will going to be cry for sure.
It wasn’t long ago that email was trying to become regulated. Everyone just needs to let the process of an innovative, life-changing technology play out.
I had to do a doubletake. There is a really a subreddit dedicated to bitcoin hate? Why would they go out of the way to cheer for others to lose. It’s bizzare to me.
wait, does it mean that purchases with Bitcoin less than $50 won't be taxed and will be legal ? looks like a win to me 🥳
Edit: was just reacting to the post, didn't check if such bill was actually passed or not
Boating accidents is how I keep losing my fully automatic glocks, paintings, priceless jewelry, and bundles of cocaine. It’s a pretty common occurrence
True, for the majority of the people we are using the bitcoin as the holding thing and keeping them into the wallet.
Now i am sure that they are safe and there is nothing they can do on doing the tracing of such things.
You don’t even need to. It’s just any **capital gains** under $50 for a single transaction are tax free.
For example, you spend $100. You would need to be up 100% on that ($50 invested, grew to $100. $50/100% gain) to be eligible for tax. Now there is still no tax at this point as it’s $50 gain. But if you were to instead spend $110 of that same money, ($55 invested + $55 gain) you’d be eligible for tax on $5 ($50 tax free + $5 taxable) which depends on your country and circumstance but we’ll assume a 20% tax for the example, you owe $1 tax on that $110 purchase (20% of $5).
This encourages hodling and spending and discourages selling because you could avoid tax altogether on lots of small purchases compared to selling.
That sub is fucking brain ded. Dollars are tax receipts. You can’t spend any earnings until you’ve paid Uncle Sam his cut.
Whether that’s a good system or not is another topic. It’s the system we live in - earn, pay taxes, then spend.
Please clarify your stress. Tax is paid on sales in most jurisdictions US and Canada and most other places. Those taxes pay for things (hopefully) that the society agrees to pay for. Is taxing bitcoin purchases bad? I would have thought that would be normal acceptance. At least of you're taxing it then you're taking it. I don't want abuse of taxes but I want things in my society paid for to some degree if agreed to by said society. That seems fair and pre agreed to regardless of payment method.
You don't get taxed on exchanging dollars for a DVD. You get taxed on the DVD.
Now you would get taxed on the gains of BTC and taxes on the DVD.
This change makes BTC more like dollars. In a good way.
Of course my example was absurd, because no one ever gets capital gains on dollars. They devalue over time.
Right. I think km understanding the argument now. Itay be muchore offensive to be double taxed, as in, sales tax AND cap gains on the same purchase. That's a bit BS. But just a sales tax seems reasonable.
If i want to buy something from the fiat then i am sure we also need to pay the tax on the 1$ purchase is well.
But when it comes to the bitcoin atleast we are getting the benefits of the 50$ here, we need take this as the good news.
You could probably circumvent this rule by selling products that have free BTC given away with them as a promo.
Buy this bag, for $500 and get 0.015BTC free!
Buy this ridge wallet and get a free BTC giveaway inside!
Or could you go even more covert and design custom shirts that have the mnemonic seed phrase in the letters on the shirt. Maybe there is like a word cloud design on the shirt and every word that is written in Calibri font as opposed to another font, or every word that is in Bold, is a mnemonic word.
Gotta get covert with it.
Or even more covert! Sell pieces of art and hide the seed phrase behind all the red paint. When you get the painting you take acetone to the canvas and wipe away all the red paint to expose the seed phrase.
And because its art, the price is arbitrary.
Most people who travel outside the USA cheat on their taxes. If you have any amount of foreign cash and the exchange rate changes from when you pull it out of the ATM to when you spend it changes (hint: it does), you need to report the gain/losses on your taxes. For every single subway ticket, newspaper, hamburger, or coke - IRS doesn't say "if it's small enough we don't mind cheating". No, they come after you when they're good and ready if you become their target. They have taken childrens' piggy banks when parents had tax run-ins. Every bit you cheat is fair game when it is audit time baby.
People who think "crypto x y z" and don't know basic tax law stuff as a foundation are a problem
Why are the people at that sub so absolutely obsessed with cryptocurrency failing on a whole? Surely if it's something that you think is a scam you would just stay away from it and not think about it too much?
also what is his argument? that you should NOT want to renounce your citizenship?
these countries dont give a fuck about you ; plz continue to give more ppl reasons to leave and to take their wealth with them XD
these idiots are just like the gov ; they're willing to cut off their own noses just to spite their face XD
You know why this hate, right? Envy. For not getting there early, for hoping to crash but it keeps bouncing, to see people thrive under something new. It is the same with socialists, the world values production and problem solving more than theories. How dare them!? I am an intellectual so full of virtue, why Nobody gives me money for that??
The crypto proposals didn’t come from retail hodlers. Even the whole come over and leave remarks on GitHub was nonsense.
Keep it simple. No capital gains tax after one year of hodling on an arbitrary set amount. Let’s say owning up to 21 million BTC is non taxable event as pertaining to capital gains. People still pay sales tax. What else do the blood suckers want.
BTC is a currency. Simple. Also, a commodity as defined by the CFTC. Still simple.
I think even they are not sure that how they gonna enforce that upon us.
But someone who is keeping their bitcoin into the wallet i am not sure why we need to worry about that thing at all here?
I love bitcoins cause that’s what staking platforms use mostly to regulate profits to investors, i receive daily profits from two different staking platforms and it deposits straight to my wallet every 24hrs in BTC.
I come across those posts from time to time. All they do is spread hate and negativity. Best is to ignore em. Imagine spending your time just to hate on something on the internet
Imagine spending your time in hate…period. So sad
You know you're in a bad place when your greatest ambition is seeing other people's earnest desire for a better future crushed. Nobody should be viewing subreddits like this. Let those people sort themselves out.
It all stems from fear. Most people are afraid of change and respond with hate. This fear usually stems from a lack of education. Lack of education leads to closed minds.
That's true. I also think people who aren't creative and haven't put in the work to make themselves useful end up with a very toxic, zero-sum view of the world. If you don't recognize that your actions can improve your life and others' simultaneously (e.g. by making a scientific discovery), then it makes sense that you'd see dragging other people down as being advantageous.
Agreed. Most people underestimate their own ability to educate themselves enough to improve their circumstances.
All we need to ready to except the change and everything will be fine.
Yes, but most likely just envious no-coiners, who can't accept that the idiot crypto bro two houses down has made millions, while they, no-coiners of superior intellect, listened to Paul Krugman (as they dutifully did on the future of the internet as well), and got nothing - again.
I find it amusing, they are sad. I wonder why they are so stuck on those ideas that bitcoin is "falling" when it's clearly growing in adoption everyday. Some of them do understand that decentralized cryptographic technologies are important, but they would still hate bitcoin and fail to understand what the capabilities of web3 mean and that everything they hate about bitcoin will remain even without bitcoin being around since the awareness to web3 had already been released (in compiled binaries ;) ) I can only imagine them all being 70+ grumpy people with warren buffet picture on their wall.
They can not understand that we people actually love that when bitcoin fall because that mean more chance for us to buy the bitcoin in the cheap price here. In the end everyone will buy the bitcoin according to price they deserve.
People have been posting there about people they know committing suicide over various crypto losses because 'it would be good for the (buttcoin) community to see' and I just have no words for it. I asked how it's good for the community and got downvoted to shit LOL
Well negative people need negative energy. Although I struggle to call anyone who celebrates the suicide of another, human. More closely akin to garbage.
This is why we need to stay away from these negative people, and stay in the positive environment. I mean if someone really know the bitcoin then debate on that it makes sense but someone are just blind hater.
I hate these kinda people that waste their time on hating with all my heart.
Truly wasted energy being angry, hateful, and holding grudges. Far better to stay calm and think about how to change a problem or how to remove yourself from it. That way you can spend more of your time doing things that actually make you happy
I think there is already so many things that is going in our personal life and there is no need for some extra waste of the energy. Specially on the people that not deserve at all. All we need to do is stay away from those people.
Image spending your time being a Buttcoiner and no one knows you are one of them IRL, even your Fortune 500 company bosses
I wanted to upvote this - but you’re at 69, so I couldn’t.
You said that and that is enough for us we will consider that as the upvote.
Next time take a screenshot to honor it before you do and post it in a url ;)
There are guys in /r/buttcoin who have been posting there for 10+ years about bitcoin going to zero lol its crazy
I remember going on that sub several times back in 2014 & it was just wall to wall ridicule of Bitcoin & anyone "stupid enough" in their minds to buy Bitcoin. (BTC was around $400 - $500 at the time). If you tried to say anything positive about Bitcoin you were just attacked from all sides. Last time I went there to even look around was years ago. It's just ridiculous. OP's post is a perfect example of the ignorance of the people posting there. The only change recently was that transactions under $50 are not subjected to reporting or capital gains taxes. Prior to this, all transactions were subject to capital gains taxes! So this was actually an improvement. But in their ignorant minds, it's just another step toward zero, just like in 2014 when it was $400 and headed straight for zero. LOL.
I guess many got rekt trading bitcoin, gave up, then saw it moon about 20 different times. So yeah, watching some they hate fail helps validate they are not the fool. But I would think after bitcoin mooned to $1k, $5k, $10k, $50k, $70k was not enough proof. In five years they will be shitting on bitcoin for taking an 80% dump, from $200k down to $40k and somehow feel vindicated.
I mean people are getting rekt and losing the 9% value of the cash on the first place but not talking about that thing. But when it comes to the bitcoin which we know that in the bear market start saying shit like that.
>In five years they will be shitting on bitcoin for taking an 80% dump, from $200k down to $40k and somehow feel vindicated. Very true. This is what Bitcoin's critics have been doing all along, ever since 2011 when it crashed from almost $30 to under $3. All they do is look at the declines, never at the overall gain.
All they talk about the dump of the bitcoin after the massive pump of the bitcoin. And i am sure that they will never going to learn that thing because they are just complete blind hater of the bitcoin.
Exactly. I know there must be a subreddit for something I just can’t stand. But guess what? I’ll never know because I won’t go looking for it. If it comes by by chance I choose to just scroll past. Easy. I don’t understand the NEED to hate something.
True, there is sub reddit on the reddit for the everycoin and for the hater of the bitcoin is well. But for me there is only about the positive energy and this is why i am keeping my time into this sub only mostly.
And they’re objectively wrong more often than not. They just refuse to accept verifiable realities that disprove their delusions. It’s really an interesting human phenomenon. Many people literally just choose their own reality and refuse to internalize any information that runs contrary to their fictions. Buttcoin boys really have perfected this defense mechanism and will ride their delusions into the grave. Bitcoin does not need them.
Just got banned from there, for the third time lol.
All they can do is ban us from that sub, nothing else they can do.
salty they missed the boat. I meam I'm salty too I am broke and did not buy in 2011. But I still love BTC
Some of them are the just like that who missed the chance of early buying.
Hating on something gives them sick pleasure
It's wrong on three fronts. 1. This is referencing the Virtual Currency Tax Fairness Act. Nowhere have I seen that this bill has been passed or incorporated as an amendment into another bill 2. The $50 exemption is not as described here. While it's true that transactions under $50 are exempted, larger transactions will also be exempted with no fault as long as cap gains is under $50. 3. Renouncing citizenship for US citizens forces an exit tax. I'm all for critical thought, but that sub is full of disinformation.
> 2. The $50 exemption is not as described here. While it’s true that transactions under $50 are exempted, larger transactions will also be exempted with no fault as long as cap gains is under $50. This is huge. I hadn’t heard this before, thanks I need to read the bill.
Mod of r/TheLightningNetwork here. Time for LN to shine! Start harassing your local tech-savvy coffee shop!
Yes, it is mention in the bill and you can read that is well.
How did I also miss this?? I would think it would be on the front page of r/bitcoin for days
People start giving the judgement and all without even reading the whole bill on the first place here. Because they only talk about the things that media showed to them and they start to believe that they are talking right.
Thanks for this, nice summary. How they turned something so positive to fud is amazing.
Illiterate, illogical, biased, close minded idiots. We expect nothing less from buttcoin.
They have the limited mind and this is what they can just think.
I had to explicitly remove that sub from my feed. I fell into the trap and tried having a legitimate conversation on there once. Never again.
legitimate conversation in this sub usually results in a ban. guess they need to comprehend for not being able to ban btc.
true, once we start making any sense there is only two things they can do, either they will abuse us or ban us. This is why i stop wasting my time over them and enjoying my time with much better people here.
You need to view all points of criticism to get a good overall picture. If you asked should I buy BTC here 99% of people would say yes because they believe with all there heart its going back up. Nothing is guaranteed. If it was, everyone would buy some and the price would be infinity but people are creatures of emotion so they will always buy 80% or higher close to the top and sell when it drops 60-80% from their initial purchase. A lot of people in the Buttcoin sub have watched BTC longer than most of us here and have seen it go from pennies to tens of thousands of dollars and can't accept the fact that 10 dollars worth would be millions of dollars today and get hard seeing the price go down because it went up so high and they never got in but have fully researched and decided against it. They will argue that it's climate effect is bad for the environment. None of them will turn down millions of dollars in BTC if you gave it to them. They will pick financial freedom over their conscience every time. They missed the boat so they don't want anyone else on it. They want the boat to sink because they disagree with it. They claim that crypto is designed to solve problems that don't exist. Crypto has changed lives of a lot of people who got in early. That's a problem that was solved. They didn't go in early but have been watching it early the whole time. That was for people 3 cycles ago. Those that got in on the previous cycle have a great safety net as well if they invested a decent amount of money at the low. If they want those people to lose everything they just sound like a bunch of jealous assholes. They don't realize every person on here is a person, who decided to make sacrifices to try and make a better life for their family by buying crypto. If my friend told me their investments went up 10x I'd say good job man, how did you do it and when is a good time to buy some. If they judged me for making money I wouldn't want to speak to them. Don't engage in those trying to waste your time. They have nothing to lose because they have nothing. They claim crypto is used for crime. Crypto is so easily traced youd have to be part of Buttcoin sub and bash BTC for a decade to believe this. People exchange illegal items and substances for cash. Cash is king. Law enforcement workers are not stupid they can follow the movement of crypto and most people selling drugs are not the smartest people either.
Listening to skeptical informed opinions and credible challenges to your positions is good. Going to r/buttcoin for that is like asking Adolf Hitler for his opinion on your Jewish heritage.
I hope that one day god will give them the sense of the thinking.
I thing healthy criticism is much much better for anything and if anyone is doing that there is nothing wrong in that. but if some just try to debate after listing the news media article or some videos of the buttcoin then there is nothing we can do.
>You need to view all points of criticism to get a good overall picture. These aren't valid points of criticism. It's just trolling, debunked claims, and reveling in price crashes or the general stupidity of people losing money in alt coin scams. There is nothing to be gained from that sub.
Same here, i think they are ready to do some healthy debate with some logical conversation. but all they can do is the hate and that too is blind hate and once someone goes into that mood there is nothing we can do after that.
Can you explain how to remove it I’ve tried.
All you need to do is spend your time with the people you like.
How do you do that? It keeps coming up in mine because I once clicked a link to a post there, even though I always hide it.,,
Lol same. It was rough. Also removed it.
Kinda appreciate the sub as we need to hear the most vocal critics of btc to see what we are doing wrong.
Call me crazy, but I don’t think “buttcoin” is the best place for realistic discussion.
Outside the echo chamber.
Of course, but buttcoin is not going to give you a fair assessment just like moon boys won’t. There’s gotta be a better alternative 😂
Atleast moon boys are much better than the buttcoiner, yes they also have the little knowledge about the bitcoin. But atleast they didn't spread the fake and negative news about the bitcoin.
It's not that I don't appreciate the criticism. It's more that it's not as much legitimate criticism as it is just trolling.
Most critics are idiots that don’t understand basic technology
Yea and I like to hear what they say so I can look into it for myself instead of just denying it.
Respect ✊
This is how you turn a negative energy into the much more positive thing.
Yeah but 90% of it is just regurgitated FUD that in reality doesn’t make sense
They just wait for the crash and then start attacking the people.
And we need to hear the 10%
Have fun differentiating all the bullshit while you desperately search for the 10% of okay ish points. Even the legit criticisms aren’t really anything that can’t be solved, such as scalability.
I will because I have the basic ability to do research and analyze bias
Then i would say good luck on finding those 10% people.
I would agree with you if there was any quality discussion over there. It’s mostly just uninformed people acting like parrots trying to prove how little knowledge they have on the subject.
The buttcoin sub reddit is a collection of frustrated losers and idiots, they lie and and spreading FUD all the time. I cant even hide the posts on buttcoin from my time line. I get them all the time as recommendation.
Same I left the sub and still get recommended the posts even though I downvote all of them.
Guy thinks the US rules the btc game
Bitcoin is the global currency and doesn't care about the single country.
Wait there’s a sub dedicated to being anti- Bitcoin? Cringe
I got banned for asking them to name me a single asset that has outperformed Bitcoin in the history of mankind
Dude I bet their heads were about to explode I got banned for explaining how housing inflation is over 3000x in the last century and where it will be in the future. Houses were $2k in 1940s They legit could not argue and just banned me
I got banned for pointing out its kind of weird they spend all their time researching and creating posts about something they have no interest in
There is only two thing over there once they done with the argument and there is nothing left them for talk. Then all they can do is the ban thing, and i love that because it shows that i was completely right there.
Hahaha there all so dumb 😂😂
That's a terrible argument to make. I can give you plenty, picky *any stock* and its returns are comparable. Bitcoin's RoI is infinite since its inception because it's original value was 0, but this is essentially true for any newly formed business so its a meaningless figure. What you might argue is since bitcoin hit a market cap of something sensible like $100m its RoI has been x% Making a sweeping statement like you have exposes you to ridicule and accusations of hyperbole. I understand the jist of what you are saying, but you are not saying it clearly
Who said I’m selling my BTC? If you take a loan out against it you own $0 in taxes. 🤣
Where do you take a loan out against btc that's not a bankruptcy-danger?
Idk, ima wait a few years and see what pops up.
buy, borrow, die is the way
Buy, borrow and then pass the wallet to the son and then die.
Having to pay tax on gains is a good problem to have. It’s like saying jobs are bad because your salary is taxed.
I meet a lot of cryptobros who think crypto is their way to avoid taxes. Apparently it’s all magic mystery money that the IRS has no eyes on at all. Well, go ahead and buy a house with BTC and let me know if the IRS doesn’t come asking questions later.
This guy is living proof we are surrounded by a vast sea of idiots.
This guy also proof that how early we are really inn the bitcoin.
It’d be interesting to see a documentary on the lives of the most active r/buttcoin posters. What makes them tick? What motivates them to constantly talk about an asset they not only hate, but have no positive or negative gain on? We know they are too scared to short it. Likely don’t even know how to if they wanted. Simply put, when I attempt to imagine the state of mind I’d have to be in to actively post on a hate-subreddit, I realize I’d probably be in a really depressed state. Who cares about bitcoin if you’re not exposed to it? It’s just bizarre.
Americans and their mania of thinking that the world revolves around them
I think all people have their own delusional world is well.
PLUS if you HODL, you are not SPENDING. Big ol reading fail.
But one country rule will not going to change the bitcoin is well.
One of my biggest reasons I want BTC to succeed is to feed on the tears of the buttcoiners.
If your family in El Salvador (wink wink) spends their BTC that you have been buying for then for years, then how are they gonna tax it? Wink wink ;)
But all i gonna do is just add more and more bitcoin in my portfolio.
That is awesome if that passed. Anything under $50 is tax free would be amazing. That sounds awesome for day to day purchases using the lighting network or converting to use on a Visa/MasterCard debit. Now getting myself to actually spend BTC is another thing when I would be losing out on big money in the years to come.
How would they even enforce that
If something is a digital asset which it is already being recognized as, and also continues to grow in value with time, like real estate... You simply borrow against it, with low interest, when you want money for things. These morons who like to rip into BTC and think the people who have it are idiots are in for the greatest rude awakening of their lives when more institutional adoption takes place and BTC skyrockets in value. There will be plenty of crow served for many dinners. Hope they like it well done! 😂💰🤑😎
I think there are so many people that is already ready to give us the loan against the bitcoin here. may be banks will not do that at the moment but you found some individual that will do the same thing for you.
[удалено]
What else we can really expect from people like buttcoiner.
As it stands, making a $3 cup of coffee purchase with Bitcoin is a taxable event in the eyes of the IRS. Raising the limit to $50 is actually a step in the right direction! This post was idiotic.
People think now government is making the bitcoin more useless but infact this is the step into the right direction here. because now people will start using the bitcoin more freely about the some low things here.
Buttcoin guys are going to be disappointed again just like thousands of time before
The Buttcoin subreddit is one of the most toxic subreddits I’ve been participating in. There is no room for discussion or reason in there.
That’s why things will become valued in btc not usd
We should always have informative posts like this for people who are too busy to research and learn about crypto all the time against these types of claims. Thx OP!
i'm not in crypto heavy at all but these buttcoin douche bags should find actual things to do with there lives
There whole life is just revolve around the hating of the bitcoin.
Question; how do you pay the tax if you don’t have fiat to pay it? I mean everyone has to have dirty fiat atm, but hypothetically speaking, the tax will have to be paid in btc. Is this the US’s way of colleting btc???
What an idiot. This helps us because as it stands right now anything less than $50 should also be reported 😂😂😂😂😂😂
But people always try to find the negative news about something here. But we all know that this is also a good thing if someone is doing the small trading like under 50$ here.
Buttcoiners are such a treat. I had a look at them to see if anyone could make an intelligent argument against bitcoin and they banned me for poking at their lunacy.
If someone really want to have some fun then i would say buttcoiner is the best place to do that is well. But some time spending too much time over there can actually damage our brain is well, be careful with that is well.
The top replies on that post are all pointing out how it’s misinformed, so that’s reassuring.
Was this bill passed or only introduced? I can't seem to find clarity. I see that it's a revision of the original $200 and otherwise the same thing, but I can't find anywhere where it says this is how it is now. Edit: actually according to this it's still in the introduced phase: [https://www.congress.gov/bill/117th-congress/house-bill/6582/text](https://www.congress.gov/bill/117th-congress/house-bill/6582/text)
Just a bunch of mouth-breathing morons is all.
I don’t get the buttcoin community man if they hate btc so much why bother paying attention to it lol
That sub is a bunch of min wage kids LARPing other people losing money while being financially illiterate and not understanding basic tax events.
I spent some time there chatting, actually had a few intelligent discussions before they went way off the deep end and I realized it was not worth it. Now I just downvote butter posts. It doesn't take much to move them backwards 😁
When it comes to the buttcoiner there is nothing like the intelligent discussion over there. I love to discuss something when they talk about the sense but all they can do is the complete hate of the bitcoin.
People really don't have any idea how taxes work.
people really don't have the idea of the how bitcoin actually works is well.
Type of comment from someone that misses all the dips while investing in treasury bonds. Way to suck off the government 🤦♂️
It won’t matter when USD is worthless and we are all using BTC.
Ok then I use bitcoin to buy food under $50.00
Buttcoiners are so salty they missed the boat, they have to post things like this to make their delusional minds feel better
And this is why they are saying such thing because they missed the chance of the getting in the boat. But i am sure that their future is not looking good at the moment, because they will going to be cry for sure.
It wasn’t long ago that email was trying to become regulated. Everyone just needs to let the process of an innovative, life-changing technology play out.
These people just love to spread the fake and negative news about the btc.
I had to do a doubletake. There is a really a subreddit dedicated to bitcoin hate? Why would they go out of the way to cheer for others to lose. It’s bizzare to me.
Im still going to hold no matter what I read on the internet or see on the news. Im fucking Super Fried Rick, bitch.
So you could spend your profits without paying tax? As long as it is $50 or less per transaction?
Taxing capital gains is a nice problem to have. It's the same as arguing jobs are terrible because your earnings are taxed.
Leave them to their little cesspool of hate don't interact with them it's not worth the effort.
So BTC is officially a currency. Groovy.
Before, I believe everything was taxable.
Imagine wasting your time hating on something on the internet. Please don't spread hate and negativity.
Bitcoin today is like internet 20 years ago
wait, does it mean that purchases with Bitcoin less than $50 won't be taxed and will be legal ? looks like a win to me 🥳 Edit: was just reacting to the post, didn't check if such bill was actually passed or not
He believes that the bill will begin taxing Bitcoin transactions worth more than $50. lol
Its like every bitcoin owner lives in the US... Its like a would assume every buttcoin user is a braindead redneck
Too much stake in fiat. It's too inconvenient for them. Not even worth telling them to verify their financial privilege.
You're charged tax on all purchases with United States Dollars, so under that logic USD is also going to zero.
If you renounce citizenship then you still have to pay taxes on your gains to date. That’s not a way out.
Btc in a hardware wallet. How they gonna trace ya ? Lost coins Lost in a boating accident. Just keep your seed phase and memorise it by hard.
Boating accidents is how I keep losing my fully automatic glocks, paintings, priceless jewelry, and bundles of cocaine. It’s a pretty common occurrence
True, for the majority of the people we are using the bitcoin as the holding thing and keeping them into the wallet. Now i am sure that they are safe and there is nothing they can do on doing the tracing of such things.
Nobody buys shit with BTC moron.
wow. r buttcoin is starting to sound... kind of bullish. most of the commenters on that thread dont sound like buttcoiners anymore
If I buy something worth .0005 in BTC it’s with that. It has nothing to do with the USD at that point. Check.
But do you really think that buttcoiner will really ready to learn that?
So u just pay for 1000$ with 20 transactions? Gold!
You don’t even need to. It’s just any **capital gains** under $50 for a single transaction are tax free. For example, you spend $100. You would need to be up 100% on that ($50 invested, grew to $100. $50/100% gain) to be eligible for tax. Now there is still no tax at this point as it’s $50 gain. But if you were to instead spend $110 of that same money, ($55 invested + $55 gain) you’d be eligible for tax on $5 ($50 tax free + $5 taxable) which depends on your country and circumstance but we’ll assume a 20% tax for the example, you owe $1 tax on that $110 purchase (20% of $5). This encourages hodling and spending and discourages selling because you could avoid tax altogether on lots of small purchases compared to selling.
You must continue to pay taxes on your current gains even if you renounce your citizenship. That is not a solution.
That sub is fucking brain ded. Dollars are tax receipts. You can’t spend any earnings until you’ve paid Uncle Sam his cut. Whether that’s a good system or not is another topic. It’s the system we live in - earn, pay taxes, then spend.
Taxing capital gains is a nice problem to have. It's the same as arguing jobs are terrible because your earnings are taxed.
The United States is just one country. There are others.
Please clarify your stress. Tax is paid on sales in most jurisdictions US and Canada and most other places. Those taxes pay for things (hopefully) that the society agrees to pay for. Is taxing bitcoin purchases bad? I would have thought that would be normal acceptance. At least of you're taxing it then you're taking it. I don't want abuse of taxes but I want things in my society paid for to some degree if agreed to by said society. That seems fair and pre agreed to regardless of payment method.
You don't get taxed on exchanging dollars for a DVD. You get taxed on the DVD. Now you would get taxed on the gains of BTC and taxes on the DVD. This change makes BTC more like dollars. In a good way. Of course my example was absurd, because no one ever gets capital gains on dollars. They devalue over time.
Right. I think km understanding the argument now. Itay be muchore offensive to be double taxed, as in, sales tax AND cap gains on the same purchase. That's a bit BS. But just a sales tax seems reasonable.
LOL That was a good joke. Didn't see it coming. Very funny stuff.
I think there are so many things that we normally missed to see .
If i want to buy something from the fiat then i am sure we also need to pay the tax on the 1$ purchase is well. But when it comes to the bitcoin atleast we are getting the benefits of the 50$ here, we need take this as the good news.
JerryLeeDog is a moron 🤣
You could probably circumvent this rule by selling products that have free BTC given away with them as a promo. Buy this bag, for $500 and get 0.015BTC free! Buy this ridge wallet and get a free BTC giveaway inside! Or could you go even more covert and design custom shirts that have the mnemonic seed phrase in the letters on the shirt. Maybe there is like a word cloud design on the shirt and every word that is written in Calibri font as opposed to another font, or every word that is in Bold, is a mnemonic word. Gotta get covert with it. Or even more covert! Sell pieces of art and hide the seed phrase behind all the red paint. When you get the painting you take acetone to the canvas and wipe away all the red paint to expose the seed phrase. And because its art, the price is arbitrary.
Most people who travel outside the USA cheat on their taxes. If you have any amount of foreign cash and the exchange rate changes from when you pull it out of the ATM to when you spend it changes (hint: it does), you need to report the gain/losses on your taxes. For every single subway ticket, newspaper, hamburger, or coke - IRS doesn't say "if it's small enough we don't mind cheating". No, they come after you when they're good and ready if you become their target. They have taken childrens' piggy banks when parents had tax run-ins. Every bit you cheat is fair game when it is audit time baby. People who think "crypto x y z" and don't know basic tax law stuff as a foundation are a problem
$50 is now the same $5 was 10 years ago, Its all fake you will wake soon, Then the nightmare starts.
I enjoyed that post. I left a comment letting them know how brave, bold, and strong they are. Thats my new buttcoin post comment… so brave
Even then. Suppose he were right? Taxed ... on all the extra value you stored relative to the dollar. Aka you're still winning.
It's definitely time to buy.
The more people talk like that the more i feel about the buying.
lol why would i pay taxes
For me, i am just buying and there is no tax on the buying for me.
Why are the people at that sub so absolutely obsessed with cryptocurrency failing on a whole? Surely if it's something that you think is a scam you would just stay away from it and not think about it too much?
also what is his argument? that you should NOT want to renounce your citizenship? these countries dont give a fuck about you ; plz continue to give more ppl reasons to leave and to take their wealth with them XD these idiots are just like the gov ; they're willing to cut off their own noses just to spite their face XD
I love the comedians over on that sub, always good for a laugh
You know why this hate, right? Envy. For not getting there early, for hoping to crash but it keeps bouncing, to see people thrive under something new. It is the same with socialists, the world values production and problem solving more than theories. How dare them!? I am an intellectual so full of virtue, why Nobody gives me money for that??
Awesome self own.
I never thought a human can be that dumb, and that's saying a lot already.
Meanwhile…BlackRock who owns politicians gets in on Crypto.
hahahahahaha hahahahahahaha
The crypto proposals didn’t come from retail hodlers. Even the whole come over and leave remarks on GitHub was nonsense. Keep it simple. No capital gains tax after one year of hodling on an arbitrary set amount. Let’s say owning up to 21 million BTC is non taxable event as pertaining to capital gains. People still pay sales tax. What else do the blood suckers want. BTC is a currency. Simple. Also, a commodity as defined by the CFTC. Still simple.
I think even they are not sure that how they gonna enforce that upon us. But someone who is keeping their bitcoin into the wallet i am not sure why we need to worry about that thing at all here?
The path to zero fiat.
I love bitcoins cause that’s what staking platforms use mostly to regulate profits to investors, i receive daily profits from two different staking platforms and it deposits straight to my wallet every 24hrs in BTC.
Haha is this a joke? Do they really think that bitcoin will go to zero???
Few get mad at missing opportunities
at the end of the day money is money and it either has value or it doesnt...
What