Anybody else pay watches via Bitcoins?

[Axelay2003]

[River Rat]

Hell no what the hell is bitcoins I keep my money in a old fashion bank brick and mortar

[jimyritz]

Not yet, but is there an advantage?

[ChuckW]

I use my watches to buy bitcoin.

[JP Chestnut]

Not yet, but is there an advantage?

Yes. Money laundering.

[Morethan1]

Not yet, but is there an advantage?

Ya, btc received has the potential to grow in value vs USD.

[Steve O.]

Hell no what the hell is bitcoins I keep my money in a old fashion bank brick and mortar

Exactly! Wouldn't know a Bitcoin if one bit me in the ass. Maybe I'm behind the curve as usual...

[jimyritz]

Not yet, but is there an advantage?

Ya, btc received has the potential to grow in value vs USD.

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I didn't think of that way..Thanks..

[mfxr]

An immutable ledger = not so good at "laundering money"..
Privacy coins sure, but not Bitcoin. Pretty much all exchanges are regulated in some form these days requiring KYC.
The tax man has caught up with this new-fangled internet moneys stuff

[flyskate]

What's bitcoin?

[ncstate1201]

Just had someone offer me bitcoin for a watch, but I sent accept bitcoin nor do I know a ton about it...seemed a bit sketchy that he would offer me bitcoin but when I didnt accept the deal died. If he is legit couldn't he just cash out of bitcoin and offer cash?

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[mfxr]

He could, but that could be a taxable event possibly?
In Aus, Crypto is treated as a "capital asset" and any conversion of that into $$ or even other crypto is considered a capital gains event that has tax implications.
If the guy just had a bit of BTC lying around (it has gone up in value a lot lately), it would be easier for him to just transfer it to you if you were setup to accept it.

Basically if you haven't dabbled with it, steer clear, but if you are familiar with it then why not? it is safe to receive (can't be taken back once transferred etc). Just be aware of the tax stuff when you want to cash out.

[ncstate1201]

He could, but that could be a taxable event possibly?
In Aus, Crypto is treated as a "capital asset" and any conversion of that into $$ or even other crypto is considered a capital gains event that has tax implications.
If the guy just had a bit of BTC lying around (it has gone up in value a lot lately), it would be easier for him to just transfer it to you if you were setup to accept it.

Basically if you haven't dabbled with it, steer clear, but if you are familiar with it then why not? it is safe to receive (can't be taken back once transferred etc). Just be aware of the tax stuff when you want to cash out.

Thanks makes a bit more sense now, didn't think of the tax implications and no I havent dabbled with it, so I sold to another buyer

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[River Rat]

I remember reading were a dummy lost 220 million in bitcoins due to he forgot his password what a moron. If you got bitcoins don’t forget your password or life can be a bitch.
Link about the fool and his bitcoin
https://beincrypto.com/former-ripple-ex ... n-bitcoin/

[JDC222]

https://www.google.ca/amp/s/www.bbc.com ... y-56012952

[HapaHapa]

https://www.google.ca/amp/s/www.bbc.com ... y-56012952

Internet browsing is similar. All those webpages are backed by servers that use the sparky stuff.

[Morethan1]

The smarter thing to do is to not keep such a large amount of coins in one wallet...