Not yet, but it's one of the top coins used, and will become more and more popular as they role out multisig and mobile wallets.
Bitcoin is still the top coin used, even though every transaction made gives a public fucking record.
I think this whole crypto game is an idiotic bubble LARP, except for monero or whatever the next privacy coin will be.
Most people have the same attitude as you, just on a bigger or smaller scale depending on their financial situation.
Hence the giant opportunity available for Monero.
I did some massive bookkeeping. Not knowing trades are a taxable event, I now found out I will be looking to pay close to $9000 in taxes...money I have yet to see in my bank account. It was based off a capital gains of $32000.
I've been trying to trade for LOSSES wait a couple days and rebuy my position. Since crypto are not securities, the WASH SALE rule does not apply. HOWEVER, there is a clause that says a loss must demonstrate you hurting your gains. By waiting a few day before buying your position, you can claim you were scared about a volatile market and thought it was going back up.
If ANYONE has massive losses, sell and buy back in a few days. Start harvesting losses. I wish I had known about this sooner.
>Assume 90% of people pay taxes.
Uhh..yeah.. I'm defiantly paying taxes on digital tulips
STOP SPREADING THIS BASELESS FUD. Nothing is taxed until it is cashed out to fiat.
Claimed losses are capped at $3,000, but can be rolled over to the next tax year if they are greater than 3k.
Basically the whole claiming losses thing isn't all that great, unless you're playing with a pretty small stack
dont see how that helps seeing as capital gains tax is 50%
In the US it's like 30% or less. Where do you live?
If you move your coins off the exchange to a cold storage wallet, can they still tax you?