So I went in big with Litecoin.
Even if it only goes up to $100 within the next 1-2 years (which is probably the safest bet in crypto right now) I'm expecting profits of $1 mil+
My question now is what's the best way to go about cashing out in a timely manner once you reach your desired profit margin? Also need a run-down on crypto taxation. I hold both US and German citizenships.
While we're at it, let's make this a general thread about cashing out / converting to fiat.
Other urls found in this thread:
welt.de
twitter.com
What does ltc have to offer? Imo it's bitcoin 0.5 and eth is btc2.0
Its actually bitcoin 1.5
>So I went in big with Litecoin.
Long term capital gains at 15% is what I keep hearing. Best to hire someone that specializes in crypto taxes for this, though.
If your cashing out in the US expect to pay 15% capital gains tax if you've held for more than 1 year. Plus whatever Coinbase or a competitor will charge as a xfer fee (1.49% for CB). The capital gains are paid on profit, so less the amount you paid for your coins.
In terms of tech, I think decred is the best.
capital gains is 0% as long as you make less than ~$35k/yr
>I hold both US and German citizenships.
>German citizenships
Lucky you, hold your BTC one year and its taxfree in germany
It has tremendous stability, has some of the best crypto programmers working on it, and has a roadmap towards success that is actually feasible.
More importantly, it's been around and has the long-term name recognition and reputation all other altcoins lack. As more and more normies get into cryptocurrencies, the simplicity and branding of Litecoin will make it invaluable.
Seriously? Got any german articles on this?
you will make profit. you will make profit with btc and eth too though.
Iota is btc3.0
> worries about taxes on FUTURE profits
What a retarded Gene pool: Germans.
You are probably one of those types who live in the moment and lose all shit Hookers, cocaine and P&D
> capital gains tax
USD Tether. From what I keep hearing, transfer everything you have into it once every year to circumvent the tax
I kinda believe this too. Once BTC turbomoons people will try and get in like "BTC is too expensive now but this is the silver to BTC so i will buy that instead
I hope you are ready for a wakeup call
>Litecoin will die on 1st of August after SegWit activation in BTC
Dont sell at $100. It is going to $300-400 following eths path
Muh 10 minute confirmation times.
what
Exactly. It's a win win. Either bitcoin keeps doing well and litecoin will scale along, or bitcoin dies and litecoin is instantly in the best position to become the next bitcoin.