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Thread: Investing in crypto currencies

  1. #91
    Join Date
    Mar 2012
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    Fort Sask/Texas/?
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    This last month has been a good month for my crypto investments.
    #RAM

  2. #92
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    Apr 2010
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    Sherwood Park, AB
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    604

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    How are you guys handling taxes? Sounds like the CRA wants a piece of every trade.
    1998 Jeep Cherokee XJ Sport 4x4
    2016 Yamaha FZ-09

  3. #93
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    Mar 2012
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    Quote Originally Posted by Hawx View Post
    How are you guys handling taxes? Sounds like the CRA wants a piece of every trade.
    Have you seen articles about it? Last I heard it was supposed to be considered capital gains.
    #RAM

  4. #94
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    Apr 2010
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    Sherwood Park, AB
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    Quote Originally Posted by Dieseldakota View Post
    Have you seen articles about it? Last I heard it was supposed to be considered capital gains.
    I have. As I understand it they want capital gains accounted for with each individual trade not just when you covert back to fiat. That's stupid and a nightmare to track depending on how much trading you do but that's what they want though the laws are still somewhat vague. Also only 50% of capital gains are taxable, not 100%. Unless you day trade so much they consider it business income which is 100%
    1998 Jeep Cherokee XJ Sport 4x4
    2016 Yamaha FZ-09

  5. #95
    Join Date
    Nov 2007
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    18,827

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    lol
    the CRA can fuck off
    i'm not reporting my crypto's as income.
    Quote Originally Posted by LOLJDM View Post
    Rob with an awesome post as always.

  6. #96
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    Apr 2010
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    Sherwood Park, AB
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    604

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    Bit of a wild ride these last few days. I didn't sell anything. Wish I could have bought actually but I'm in school for a couple months so I need to be careful with my spending.
    1998 Jeep Cherokee XJ Sport 4x4
    2016 Yamaha FZ-09

  7. #97
    Join Date
    Apr 2004
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    1,258

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    Quote Originally Posted by Hawx View Post
    Bit of a wild ride these last few days. I didn't sell anything. Wish I could have bought actually but I'm in school for a couple months so I need to be careful with my spending.
    Very wild, loving all these discounted buys! Been accumulating more and more all the way down.

  8. #98
    Join Date
    Apr 2011
    Posts
    4,877

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    One Bitcoin is $5,080 CDN, today.
    It was $12k one year ago and over $20k in December of 2017.

  9. #99

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    Quote Originally Posted by JugZ View Post
    One Bitcoin is $5,080 CDN, today.
    It was $12k one year ago and over $20k in December of 2017.
    And if I had bought a bunch at 600$ when I was looking at it, but didn't do it because of all the hurdles in the way at the time, I'd still be laughing all the way to the bank.

    Here's what I want to know. Is there anything to stop me from just contracting some programmers off Fiverr and making my own damn crypto? I'll just mine the first 5 million coins myself once the program is up and running, then release it publicly and let the traders drive the price up a bit before cashing out and going to live in Asia like a king for the rest of my life.

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