Bitcoin and Crypto Talk (Merged) (3 Viewers)

itztime

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Oh, that's interesting. Do losses count in the equation?
I would think so. Here is the website I had found, that gives pretty good explanations and seems legit.

 

superchuck500

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I don't believe it is trustworthy also, from what I understand if you move between wallets with the same coin its not taxable though if you move between wallets to trade for another coin it becomes taxable. At least that is what I read and understood on one of those Crypto blogs.

I don't think it becomes a taxable event until the trade. So if you move coin from a wallet or platform account to another wallet or platform account (all your accounts), that isn't a taxable event. It's the same as moving fiat from your checking in one bank to a savings in another - there's no transaction. It doesn't matter why you moved the coin . . . but if, after moving it, you make a trade and there's a gain/loss, that's a taxable event.

@Denzien : losses count against gains. It's aggregate for the year.
 

superchuck500

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That makes the most sense, I'm just reminded of an article I read earlier this year about the Wash Sale Rule and was concerned that maybe something like that might end up applying.

Sure, I don't know but it would make sense that the wash sale rule would apply to crypto (or any volume/recurrent asset trade). That's a timing-based refinement of what is otherwise the general rule of capital gain/loss.
 

Mr. Blue Sky

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Um, so i just made the mistake of checking Coinbase.. crypto never sleeps, not even on Sundays.. and, welp, let’s just say i thought i was ‘buying the dip’ the other day when i purchased some ETH.. well it turns out, we weren’t even close to the mother of all dips we’re seeing today.. TBH i wouldnt be surprised if BTC and ETH are just penny stocks in a few more days... so depressing.. just glad i didnt sink *that* much into either one.
 

itztime

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Um, so i just made the mistake of checking Coinbase.. crypto never sleeps, not even on Sundays.. and, welp, let’s just say i thought i was ‘buying the dip’ the other day when i purchased some ETH.. well it turns out, we weren’t even close to the mother of all dips we’re seeing today.. TBH i wouldnt be surprised if BTC and ETH are just penny stocks in a few more days... so depressing.. just glad i didnt sink *that* much into either one.
Yeah, I set some limit buys yesterday because of the downtrend I was watching on Saturday. I said to myself no way do these buys go through, welp wake up this morning and not only did they go through but were 2 points lower than my limit 🤦‍♂️.

With that being said I have been buying the heck out of an alt coin ANKR during these dips, nice founding board, actually being used on some platforms and is some sort of cloud based mining. It’s a
@ $ 0.8 and it was averaging $0.16, with a projected $3.00 high by the end of the year, I don’t know if that will happen but for the long term it’s a cheap buy and seems to have promise. This may be my ticket one year to have that yacht with bikini clad “sister wives“ every 4 feet on the deck 😉.
 

Mr. Blue Sky

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Yeah, I set some limit buys yesterday because of the downtrend I was watching on Saturday. I said to myself no way do these buys go through, welp wake up this morning and not only did they go through but were 2 points lower than my limit 🤦‍♂️.

With that being said I have been buying the heck out of an alt coin ANKR during these dips, nice founding board, actually being used on some platforms and is some sort of cloud based mining. It’s a
@ $ 0.8 and it was averaging $0.16, with a projected $3.00 high by the end of the year, I don’t know if that will happen but for the long term it’s a cheap buy and seems to have promise. This may be my ticket one year to have that yacht with bikini clad “sister wives“ every 4 feet on the deck 😉.




I actually bought some ANKR a couple months ago, along with a few others like Dai, Cardano, etc.. just small amounts, in case their ‘promise’, like you said, ever comes to fruition... Your dreams are slightly more ambitious than mine though, haha.. while I’d lIke to be surrounded by bikini clad lovelies on the yacht, i was thinking I’d be thrilled if any of these cryptos became worth enough in 25 or 30 yrs from now that i could buy a little condo near a beach somewhere and at least be surrounded by old ladies and widows closer to the age I’ll be by then. 😉
 
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I actually bought some ANKR a couple months ago, along with a few others like Dai, Cardano, etc.. just small amounts, in case their ‘promise’, like you said, ever comes to fruition... Your dreams are slightly more ambitious than mine though, haha.. while I’d lIke to be surrounded by bikini clad lovelies on the yacht, i was thinking I’d be thrilled if any of these cryptos became worth enough in 25 or 30 yrs from now that i could buy a little condo near a beach somewhere and at least be surrounded by old ladies and widows closer to the age I’ll be by then. 😉
I bought a super small stake in it. Which reminds me, I should put $50 on it now.
 

Mr. Blue Sky

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I bought a super small stake in it. Which reminds me, I should put $50 on it now.



All of my crypto “investments” have been super small.. with the exception of BTC and ETH, which were merely small.


ETA: Just checked it again.. all you can do at this point is LOL... thought i was being so clever buying BTC a couple months ago.. then ETH.. turns out i didnt know crap... but as i mentioned upthread, when i bought ETH last week, my plan was to ‘hold it for 20 yrs and hope for the best’ so that hasn’t changed, just need to forget it for a while.
 
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