Jamalisms Posted July 30, 2021 Report Share Posted July 30, 2021 Tax that ass https://www.yahoo.com/finance/news/senators-push-bill-surprise-crypto-115026952.html Link to post Share on other sites More sharing options...
BobbyCoins Posted July 30, 2021 Report Share Posted July 30, 2021 Lol. You should seriously consider applying to work for the IRS. You'd fit right in. Link to post Share on other sites More sharing options...
Supdawg Posted July 30, 2021 Report Share Posted July 30, 2021 (edited) Edited July 30, 2021 by Supdawg Link to post Share on other sites More sharing options...
Supdawg Posted July 30, 2021 Report Share Posted July 30, 2021 11 hours ago, Jamalisms said: Tax that ass https://www.yahoo.com/finance/news/senators-push-bill-surprise-crypto-115026952.html If you pay your taxes and not defraud the government, this is a big nothingburger. Logistically will be a nightmare for the the CEX's, though. As long as they don't start talking about taxing unrealized gains. There has been some discussion on that but I just don't see how that can be passed. Link to post Share on other sites More sharing options...
Jamalisms Posted July 30, 2021 Report Share Posted July 30, 2021 Taxing unrealized gains is always dumb. titanruss, Downtown, and pat 3 Link to post Share on other sites More sharing options...
BobbyCoins Posted July 30, 2021 Report Share Posted July 30, 2021 8 hours ago, Supdawg said: As long as they don't start talking about taxing unrealized gains. There has been some discussion on that but I just don't see how that can be passed. What I don't get is how staking rewards for coins that have staking can be taxed if you haven't traded them or sold them for gain. If the rewards you get for staking ADA just sit in your wallet and you're not realizing those gains then wtf? How can it be considered income if you aren't paying yourself with it? Link to post Share on other sites More sharing options...
Jamalisms Posted July 30, 2021 Report Share Posted July 30, 2021 If crypto is considered currency and not a different sort of asset, it's somewhat circular to argue the gains are unrealized. Link to post Share on other sites More sharing options...
Supdawg Posted July 30, 2021 Report Share Posted July 30, 2021 22 minutes ago, Jamalisms said: If crypto is considered currency and not a different sort of asset, it's somewhat circular to argue the gains are unrealized. Crypto is a property as defined by the US tax code. 1 hour ago, NashvilleNinja said: What I don't get is how staking rewards for coins that have staking can be taxed if you haven't traded them or sold them for gain. If the rewards you get for staking ADA just sit in your wallet and you're not realizing those gains then wtf? How can it be considered income if you aren't paying yourself with it? They are taxed as income. Interestingly enough, I just got my BlockFi credit card a few weeks ago, and BTC earned as "rewards" are excluded as taxable income just as credit card points are not taxable as well. titanruss 1 Link to post Share on other sites More sharing options...
Jamalisms Posted July 30, 2021 Report Share Posted July 30, 2021 1 hour ago, Supdawg said: Crypto is a property as defined by the US tax code. The IRS should always be consistent. And taxing unrealized gains is dumb. But so is winging about unrealized gains when you think it's currency anyway. Link to post Share on other sites More sharing options...
titanruss Posted July 30, 2021 Report Share Posted July 30, 2021 about to hit 42K again. This was a resistance spot on the way down i think... But I cant shake the idea that this is a bull trap. We did say earlier in the year that the bull run would resume around august after a july low.... but something seems fishy to me right now. Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted July 31, 2021 Report Share Posted July 31, 2021 Currently up over $5k in my new pos crypto investment. This sumbitch can go to the moon for all I care! CRYPTOOOOOOOOOOOOOOOOOOO!!!!!!!!! titanruss, and OILERMAN 2 Link to post Share on other sites More sharing options...
Supdawg Posted July 31, 2021 Report Share Posted July 31, 2021 10 hours ago, titanruss said: about to hit 42K again. This was a resistance spot on the way down i think... But I cant shake the idea that this is a bull trap. We did say earlier in the year that the bull run would resume around august after a july low.... but something seems fishy to me right now. Disbelief? I wonder who has been buying over the past 10 days. Obviously some very strong spot buys leading the charge here. Likely to be some big players. Link to post Share on other sites More sharing options...
Supdawg Posted August 1, 2021 Report Share Posted August 1, 2021 (edited) Bitcoin is STILL looking strong AF.... And if history repeats... Exhibit A (Average 106% returns at 60 days from 10 straight green closes. And a bullish engulfing monthly close.... And you guys were laughing at us at 30K.... Edited August 1, 2021 by Supdawg Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted August 2, 2021 Report Share Posted August 2, 2021 Damn, it's back down below 40k again and near 39k. There she blows! Don't wanna see below 37k again. Brother(s) can you spare a dime!? Link to post Share on other sites More sharing options...
pat Posted August 2, 2021 Report Share Posted August 2, 2021 1 hour ago, OilerTitanHybrid said: Damn, it's back down below 40k again and near 39k. There she blows! Don't wanna see below 37k again. Brother(s) can you spare a dime!? In related news, my conservative ETF investments have now gone up ~ equal to what my BTC is now worth since I bought both. Link to post Share on other sites More sharing options...
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