Don't mind me

For peeps who don't have trillions in crypto - is it better to wait out the Fork in ETH?

I lost 1 btc holding this shit over the past week.

Fuck it, I'm 100% bitcoin slow forking overhyped garbage now. Fuck boomers. Fuck this market. Fuck ICOS.

And also Fuck (You).

if you're doing a eth/usd trade you might qualify for a 90 day reinvestment clause that means you pay capital gains.
when you remove money out of an investment, you're allowed to reinvest it in a certain time period without paying taxes.
yes, high taxes are meant to be for wagecucks, not investors. enjoy it.
if you're doing btc/eth conversion there's no worry at all.

so if you hold for 1 year, your capital gains are 10% if you have a wagecuck job, 0% if your wage income is 0

IANAL, so read up before filing.

haha you don't pay taxes on crypto, that's why its unregulated and decentralized lol baka

...

no, that guy is a fucking faggot. if you're in the USA, then every single time you make a trade (ETH for a shitcoin, ETH to BTC, whatever) you owe a tax on that transaction.

>90 day reinvestment clause

How is that not short term capital gains?

Is that the case for traditional investments as well? So If I pull out of a ETF and put it in a individual company stock or some other ETF I wouldn't have to pay capital gains on that?

Prove it. I've looked into this and you have no basis for this claim.

Alts always dip when Bitcoin moons, but they also dip when Bitcoin dips, so it's kind of a lose-lose situation.
I'm all in on BTC atm, but the fork could be a real mess.

The IRS has yet to answer whether the transaction is “like kind.” A group of CPAs asked that last year. If yes, you only pay (or claim losses on) the fiat out part.

>paying taxes on crypto
feels good not being an americuck

literally no one is going to do this you fucking pussy

That is how i understand the law is written. If you can explain to me how that is not the case I wont do it.

This is completely accurate. If you trade property for property in the United States, or crypto for crypto, you owe capital gains on the fair market value of that trade minus cost basis. Unless you can get the trade deferred as like-kind. Hint: no one has been able to do that.

ETH survives. 90% of ERC20 tokens are dead in 6 months

Amazon seems to be interested in eth

i forget the actual name, so google it. but the idea is if you sell your house, and rebuy another house you don't have to pay capital gains. (because that would be stupid expensive).
the idea applies to certain types of investments including stock IIRC

Ever heard of a thing called monero?
What about btc credit cards?
No?
Maybe local bitcoins???
user...
Tell me you at least know about le deep web...

>i forget the actual name
like-kind exchange

interesting.

I will look into it. I Need a CPA buddy or something.

>I Need a CPA buddy or something.
They can't really help you. The IRS hasn't given enough guidance to know what the fuck to do. You take a risk any way you slice it.

Have you ever heard of something call a polygraph?

Some of us despite being able to get away with something are looking to get jobs where polygraphs are required.

I'm gonna copy pasta a couple posts I made on the matter:

forbes.com/sites/greatspeculations/2017/08/15/cryptocurrency-traders-risk-irs-trouble-with-like-kind-exchanges/#7bcd1f5f26a8

CPA claims people are "inappropriately deferring capital gains".

"Taxes are only when you cash out" theory is completely and utterly destroyed if you live in the US.

>Let's say you buy 100 bitcoin at $1000
>Then the price rises to $6000.
>Your portfolio is worth $600,000, your cost basis is $100,000
>You owe no taxes yet.
>Then you trade the 100 bitcoins for 10,000 shitecoins at .1 btc each.
>The "fair market value" of this trade is $600,000.
>You now owe taxes on the $500,000 capital gain AS IF you sold btc for cash then used that cash to but shitecoin.
>You now fucking owe money even if you cashed out 0 dollars.
>At the end of the year you'd have to sell a huge portion of your portfolio, calculate any taxes for selling then, use the left over amount to pay taxes again for the capital gain when you bought shitecoin.

Yes this is how cucked the taxes are for US crypto traders and no one realizes. Enter a few mock trades at bitcoin.tax, which was created by a professional accountant. What I'm saying is true.

Well my main idea is to buy and hold ETH at this point long term anyways. The good thing is that I am such a poorfag that I fall into a tax bracket that pays 0 long term capital gains tax anyways. Although from what I understand that still counts as taxable income and can push me into a higher bracket if I make it on a moon mission.

In 2016 the American Institute of CPA's wrote a letter to the IRS asking for more guidance on crypto taxation because their current guidance was so shitty.

coindesk.com/aicpa-irs-bitcoin-tax-guidance/

In section 4 they tell the IRS that they need to clear up this issue of whether crypto trades are like kind AND THEY STILL HAVEN'T DONE IT.

>Section 4, Q&A-1 of Notice 2014-21 states that “general tax principles applicable to property transactions apply to transactions using virtual currency,” which is guidance that is generally helpful in determining the tax consequences of most virtual currency transactions. However, if there are particular factors that distinguish one virtual currency as like-kind to another virtual currency for section 1031 purposes, the IRS should clarify these details (e.g., allowing the treatment of virtual currency held for investment or business as like-kind to another virtual currency) in the form of published guidance.

In switzerland it's different for every state. Where I live I have to pay taxes only for the crypto value (fortune) at the end of the year, but not for the winnings, as long as I never had more than 200k in my trading portofolio. This is really a very very comfortable way to make earnings without paying taxes on them. Trading with more than 200k means paying income taxes, this is very expensive.

>Alright user, as you are under consideration for the security adviser of our company, we'd just like to ask you a few questions
>Okay
>HAVE YOU EVER NEGLECTED TO PAY PROPER TRANSACTION TAX ON CRYPTOCURRENCY EXCHANGES?

They will ask in a job interview if you recently laundered cryptocurrencies?
Even if they did ask if you did anything illegal, only a complete nigger would make himself believe he's a criminal for buying burgerking tokens untaxed.

Anyone can register any domain name you FUCKING FAGGOT PAJEET.

polygraphs don't even work. it's just a prop to get you to be more honest.

So if I buy and hodl ETH for years and then cash out. That is pretty simple and the same and regular stocks

fuck. i should have sold at 400

I set my sell order at $420 and it went down at $418 back this summer.

this... hopefully...

>fags actually pay taxes on their crypto gainz

>He doesn't want to continue to interact with Society from outside of a jail cell

Just a few more years and you will be receiving an audit letter in the mail.

Unfortunately my fellow britbongs also have to pay capital gains tax but only if it's over there annual exempt amount. However hmrc are so far behind the times they'll probably never find out about it.

3 years from today
Market cap at 3trillion
Eth $296

Say what you want about ETH, at least it's not a bag (not for me anyway)

dude do you have any idea how much it's depreciated in terms of bitcoin? it was worth .15 at some point, now it's nearly .04

do you guys remember back in, oh, was it april? when every single person on this board said "eth will be 500 dollars by the end of summer, and $1000 by the end of 2017, guaranteed". i guess we can all look back and laugh now, right guys.

When the fuck is litecoin supposed to go up
Wth

Crypto Isnt regulated the same way as stocks.

true

Who needs USDT when we have ETH

Hurrdurr, can't read that the registrant is Amazon Technologies, Inc. or do a WhoIs lookup to verify.

It's real. But it probably doesn't mean anything. AmazonBitcoin.com was purchased in 2013.

Disney owns "muppetfucker.com" (insider info)

yes, the people saying you only pay tax when you cash out are either flat out lying to you or are just too retarded to function normally, so they actually believe it.

>paying taxes

Not now. Maybe never. It's good to transfer money around and store crypto earnings. But who knows maybe it'll explode overnight.

>date of largest developer conference in the world
>price goes down

>bitcoin does nothing
>price goes up

FUCK THIS STUPID FUCKING COIN GOD FUCKING DAMNIT I HATE THIS STUPID BULLSHIT

reEEEEEEERREEEEEEEEEEEEEE!!!

GIVE ME BACK MY MONEYO YOU STUPID FUCKING SKELETON!

PALADINS ASSIST ME!

Join Veeky Forums discord
discord.gg/YFQuV7t

>buys the dip
>dips again

>tfw eth would be worth more than btc if it wasnt for all the vaporware scamming niggers who ruin the platform

via coinbase? those fucking fees.

>tfw this entire board is part of the problem

>tfw crypto oldfags made a bunch of 4channers rich by telling them about ETH in the early days. then they lose it all trying to flip ICOs

got in at 302 and 291, getting off this wild ride if it ever gets in the low-mid 300s

>Sittin' sideways, ETHs in a daze
>Sittin' sideways, ETHs in a daze
>Sittin' sideways, ETHs in a daze

On a Wednesday night, I might hang, got red for days.

>Sittin' sideways, ETHs in a daze
>Sittin' sideways, ETHs in a daze
>Sittin' sideways, ETHs in a daze

On a Wednesday night, I might.hang, got red for days.

or not a burger

society =/= the state

You guys really paying taxes ? I thought this was a meme. I've a company in the Seychelles that I sometimes visit on my yacht.

You file taxes for fiscal year dont you:
WTF burgers.
Buy crypto. Moon. Move to Andorra onr Monaco for 7 months. Cash out

You can claim capital losses as well can't you? So if you claim your losses against your gains it's all the same.

THERE CAN ONLY BE ONE

Watch out for the plague, bro.

>It's dropped from 280 to 277 in like 3 minutes

can't tell if i should cautiously buy more or gtfo

Yeah but ideally you have more gains than losses. And the difference will be taxed.

FUCK TAXES AND FUCK YOU!

So happy to see btc putting this shitcoin in it's fucking grave. People unironically thought this shitcoin would flip BTC lmao

AGHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

It is amazing to see how many 'flippening' shills are BTFO and are no where to be seen.

I'm here bitch.

all in eth since 2015.

soon you will ask for forgiveness like a maggot

>down to .04 from .15 at the peak

lmao, shouldve taken profits big boy

why take profits @.15 when in less than 2 years it will be .5+?

HAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

The wild cuck appears, how does it feel right now watching yourself get blown the fuck away by the masterrace bitcoin?

Money Skeleton cant save you from killing yourself when bitcoin hits 10k.

I'm feeling comfy holding more than 14k eth, desu I don't give a shit about daily movements, I'm holding until casper. keep coping and holding your .003 btc, you sure are gonna make it pajeet.

>Eth @ .5 btc
My sides actually hurt.

Infinite supply vs 21 million
Good knock off name vs Established brand name
Centralized (muh fork to stop le scammers) vs Decentralized (Mt gox ftw)

Why are ethcucks so deluded?

Kek, been holding bitcoin before money skelton started his meme currency.

You claim to have 4 million USD in eth.
If you had sold your meme currency when it peaked you would have 20 million USD right now.

>infinite supply

I’m not even trying to talk to an iq 4 nigger.

Its looked about to run

im the only thing about to be hanging