Bitcoin and Crypto Talk (Merged)(includes NFT) (3 Viewers)

[DoubleSaint]

Matic is back to the top of the daily gainers after shaving years off my life.

Back in the green.

 

[RKNSaint]

Crazy few weeks. For you guys new to this - hang in there. There is $ to be made. But, like you, I lost a ton of my gains. Finally sold 75% of my ETH and a full liquidation of a few others, but still well in the money. I have done very well on ETH, getting in at below $100.

I hate my position is now small so I will need to work on building it back.

Sell when you have profit on the table is my best advice.

Long term play for me is Harmony ONE and VeChain. Two year horizon is my hope.

Good luck.

 

[DoubleSaint]

Yeah I’m waiting for Coinbase to add harmony because I’m too lazy to use anything else.

 

[jrdbrn]

I blame it on DOGE

 

[superchuck500]

Yeah I’m waiting for Coinbase to add harmony because I’m too lazy to use anything else.

e-harmony?

 

[Mr. Blue Sky]

I blame it on DOGE

You spelled MUSK wrong.

 

[DoubleSaint]

e-harmony?

Money is all the love i need

 

[Tapxe]

Money is all the love i need

 

[jrdbrn]

Where'd you find a picture of my sister in law?

 

[Swamprat]

Where'd you find a picture of my sister in law?

Your SIL is my old neighbor.... I seriously had to do a double take, could be twins.

 

[DoubleSaint]

My biggest regret is not being brave enough to buy the dip and double up on my matic. Could have bought at $0.74.
It’s already hit $1.88 in 24 hours, could hit an ATH if it carries on this way.

 

[DaveXA]

Bitcoin? It's the new new way to farm.

 

[Tapxe]

Interesting take.

Crypto investor Joshua Jarrett sues IRS over tax enforcement rules | Fortune

An investor in the cryptocurrency Tezos has filed suit against the IRS, claiming that taxing newly created tokens as income “is in direct contradiction of over 100 years of U.S. tax law.”

fortune.com

 

[superchuck500]

Interesting take.

Crypto investor Joshua Jarrett sues IRS over tax enforcement rules | Fortune

An investor in the cryptocurrency Tezos has filed suit against the IRS, claiming that taxing newly created tokens as income “is in direct contradiction of over 100 years of U.S. tax law.”

fortune.com

And just so its clear for those who don't read it, he's talking about taxing crypto mining (as ongoing income). He's not talking about tax on receipt of crypto as payment or taxing capital gains on crypto trades.

 

[DaveXA]

And just so its clear for those who don't read it, he's talking about taxing crypto mining (as ongoing income). He's not talking about tax on receipt of crypto as payment or taxing capital gains on crypto trades.

Well, that's a tricky one. It's certainly not earned income in a conventional sense, but it's probably unearned income, which is still taxable. I wonder what the reporting thresholds are and whether you just combine it with the rest of your ordinary income. The thing is, if it's a currency, then it's not taxable when you sell it. If it's an asset, then tax it when it's sold. It shouldn't be taxed on both ends though. That would be double taxation of the same asset.

I'm not a tax accountant or tax attorney though, so...