How the fuck is daytrading crypto profitable if every trade is taxed at 30%

not in my country, buying things with bitcoins is taxed here, if you made a profit on it

>paying taxes

I'm 19y old i made some good 10x runs using $5k made like $60-$70k .

I'm not sure what tax to pay ? I always buy shit from amazon or localbitcoin using paypal etc .

am i in trouble ?

Capital gains tax most likely.

I'd definitely go for capital gains tax if you want to cash out, otherwise hodl and wait for BTC to become a bit more mainstream and live through that

>crypto
>taxes

LMAO

do you pay in bitcoin or if you pay in fiat which price point for bitcoin do you use?

my thoughts exactly

>cash out
Wtf are you talking about dude. You're in crypto now. There's no turning back.

It's 30% of your profit retard, not 30% of the amount you traded with.

How do people not now basic tax rules?

but where to buy lambo with btc ?

more like how the fuck is daytrading crypto profitable since commission fees deck you .4% for every single trade

Taxation is theft. Pay it only if you want to support wars overseas

>have 2 exchanges
>1 to buy Bitcoin with
>send those Bitcoin to the other exchange to trade them for dollar and back
>send the exact amount of Bitcoin back to the one you bought them from
>convert to fiat after a year for no tax on it

>people still fall for the "every trade is taxable" meme in October of 2017

christ

That is if you're just trading and in the U.S.

>Don't pay taxes
>Go to prison for 2 years
>Lose 2 years of profit
Hmmmmmm

>Go to prison for 2 years
>Return to a wallet full of BTC that is now worth 4 times as much

Plus free rent and food! It's pure profit, baby!

Brb putting my BTC in cold storage right now and turning myself in to the taxman

Taxes? what are those?

you can do shopping with tenx. withdraw small amounts

DENY DENY DENY

Quit being a burger, simple solution

And then all of your fiat gains are stuck in the other exchange. What then?

The only way you can "profit" by actively trading crypto is by riding pump and dumps correctly. The only way to really do this is to be an insider or to just buy every single crappy penny coin you can find and hope they get pumped.
Buy and hold isn't a meme when you're talking about Bitcoin.

I've traded crypto for three years and not payed 1 cent in tax. Nice try though

you only move btc to the one you buy in with to cash out some fiat.

So you keep 70 percent of your profits
How isn't this profitable?

Listen I'm a Canadian who is engaged to a nice American girl. I've been hearing about the "Tax-on-every-trade" meme for quite some time. Can a law-abiliding american confirm what you are expected to do?

Honestly this is a pretty great idea..

>going to prison for not paying taxes
>implying we all live in China
Your overdue taxes + a penalty will be seized on your account, that's all

what account?
i got zero on my bank account
they can eat my shorts

There are no law abiding Americans on this board.

>implying I pay taxes

Because your net gains for the year are taxed. If you have a net loss, you get to deduct it (other than wash trades).

>Capital gains tax is 30% in Finland

Its 30% of any profit you dumb faggot, not 30% of the trade!!

If you bought ETH at $300.00 and sold it for $301.00 you only owe 30% taxes on the $1 profit... not 30% taxes on $301.00 ... then after the first trade where you profited $1, if you buy ETH at $300.00 only to sell it at $299.00 you take a loss of $1 negating the $1 profit you took from the first trade... meaning you owe nothing... Its not fucking rocket science

well shit
t. Finn
ps go to sleep

>paying taxes
What are you, a fucking socialist?

You are taxed because it was profitable

>be burger
>work for $12/hr at Tire World
>health insurance is garbage, little savings, have 401k, "wow honey I earned 3% over the last 6 quarters!"
>paying taxes out the ass for T'arqueesha-as 9 kids
>700$ copay for checkup at Dr, (not including tip)
>Pedro and Juanita use the emergency room for free
>fuckthis.mp4
>stumble onto biz after browing pol
>trade crypto, aquire massive gains
>storm into Mr. Mamorsteins office, tell him to fist himself
>take vacation to Phillipines, bring trezor and laptop, leave ungrateful wife behind
>exchange btc locally for cash
>overstay visa, pay off police to list you as "missing person"
> wait 2 weeks and pay police to find "your body" pay flip Dr. to write death certificate, ect.
>live like a king
>sometimes send money to ungrateful ex wife, feel sorta bad but not really, she was fucking Mr. Mamorstein anyway

it's not. most of these tards would be tax loss harvesting if they knew how to file their taxes (the US ones at least)

Every trade is not taxed. Swapping one commodity for another commodity of equal value is not a taxable event

it is in scandinavia

abdulla needs to have his rape crusade funded somehow you know

So if you trade your car with your neighbor, and both cars have an equal fair market value, they will tax you for that in Scandanavia?

no, but if i buy a car with bitcoins i will be taxed on whatever gains that bitcoin made since i bought it

doesnt matter if i convert my buttcoins to cash or commodities, they are taxed the same way

daytrade ? ta analysis? all retards here say the thing is hodl, or daytrade
i dont fucking know what to do anymore

>move out of cuckistan
???