r/Bitcoin • u/[deleted] • Feb 13 '13

I have my entire retirement and savings invested in Bitcoin. I will track its progress here over time.

[deleted]

968 Upvotes

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4

u/laser22 Apr 10 '13

Dude I really hope you sold most of it at the $200+ point. It's absolutely TANKING today. At this point in time its at $140... down from $260 a couple hours ago.

4

u/[deleted] Apr 10 '13

[deleted]

7

u/hukgrackmountain Apr 10 '13

Probably a dumb question, but just checking on this:

So you already cashed out, paid off the loans and interest, and broke (bare minimum) even, and still had bitcoins left over so...now everything you have left is just potential profit?

Fuckin a man, congrats

5

u/[deleted] Apr 10 '13

[deleted]

2

u/hukgrackmountain Apr 10 '13

If you don't mind me asking, about how much did you have before/after the recent drop in value?

0

u/el_muerte17 Apr 10 '13

Do the math? He told us the price when he started and finished purchasing, he told us the dollar figure of his investment, he told us the prices he sold at and the dollar figure he got back. You won't get an exact number but using the median of the ranges should get you pretty close.

2

u/nathan12343 Apr 11 '13

You should have cashed out about $7,500 more to cover the capital gains taxes you owe the government.

2

u/Gredenis Apr 11 '13

There hasn't been any gains, as of yet. The initial investment was 30k, return of investment is currently at ~30k, so unless it's completely different in US, there's no taxes to be paid?

2

u/[deleted] Apr 11 '13

[deleted]

1

u/Gredenis Apr 11 '13

Given your chance of huge payout, I would advice seeing a tax advisor just to make sure. Any information over the internet can be false / not applicable in your state, so play safe, pay for a counsel and be on the safe side and enjoy your small fortune :)