Official Bitcoin, Ethereum, and other Alt coin crypto thread

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Mr Stubs said:
I can show you plenty, but this on is easy to get on Coinbase and has a good real world use case that revolves around Coinbase.

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Looking at where it is now...to where it was a week ago.....now doesnt look like a great time to by (just speaking out loud as Im learning as I go....grew up under powerlines and ate paint chips as a kid)
 
Squamch said:
What happened to ethereum? Just checked my wallet for the first time in awhile, and it's tripled!
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I checked mine this morning too and my Doge is almost tripled, really thinking about rolling it into BTC or maybe buying into Elon's Xcoin or whatever he calls it. He is supposed to be releasing it PDQ.
 
I would sell my bitcoin NOW and buy back when it drops, but the fuckin tax implications.
 
grumpy356 said:
I would sell my bitcoin NOW and buy back when it drops, but the fuckin tax implications.
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can't you stick it into something else (ie, buy something with it) and that'll avoid the tax implications?

something like buying paper gold/silver or whatever, to be traded back for crypto when the time is right
 
[486] said:
can't you stick it into something else (ie, buy something with it) and that'll avoid the tax implications?

something like buying paper gold/silver or whatever, to be traded back for crypto when the time is right
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Not quite.
 
Burns said:
explain
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It’s not anonymous and when you sell it you owe taxes on what you made and possibly long term or short term capital gains.

At least that is my understanding and if I’m wrong (and I truly hope I am) if someone can educate me on how I would GREATLY appreciate it.

I figure with my current tax bracket (or what I project my tax rate will be if i don’t get fired) it’ll cost me over 30% to sell. (Even if I buy it back tomorrow).
 
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[486] said:
thought so long as it doesn't do an intermediary step into USD it's kosher
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You would pay the tax on the dollar equivalent of your trade. If you were buying currency with it there would be no tax on that transaction but the btc is taxed as if you converted it back to dollars.

It used to be real property but congress put a stop to that and Trump put a stop to like kind asset transfers.
 
Will12785 said:
You would pay the tax on the dollar equivalent of your trade. If you were buying currency with it there would be no tax on that transaction but the btc is taxed as if you converted it back to dollars.

It used to be real property but congress put a stop to that and Trump put a stop to like kind asset transfers.
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When you say BTC I assume this applies to any digital currency….

I mean that only makes sense if it’s applied to all digital currencies.
 
Will12785 said:
You would pay the tax on the dollar equivalent of your trade. If you were buying currency with it there would be no tax on that transaction but the btc is taxed as if you converted it back to dollars.

It used to be real property but congress put a stop to that and Trump put a stop to like kind asset transfers.
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:c
tax code is always written for rape, by rapists
 
Im sitting here thinking "damn...there goes the 30% I made". Booooooo (havent cashed out....but have been thinking about it)
 
Why are people cashing out now? Its just the beginning of the bull run. There will be a slight dip before the halving then the real fun begins. Only things I am selling are swing or leverage trades. No long term bag trades.
 
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If this run is anything like the others...I feel like if I toss some $$$ into crypto it will immediately crash.

So enjoy your run guys, I'm staying out!
 
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