You know what to do

WELCOME ON BOARD, BILLY

I like this guy.

This is something I am wondering my self.

Is bitcoin getting taxed to the ass too?
I want in on meme coins but I have no idea what I am doing but the swings makes it look like I can be making thousand of dollars a month just by buying and selling on the daily, I been watching the tickers and I can almost predict when is thing to dip a couple of hundreds and when is going to rise a couple more.

How does it work?

Can I buy and sell crypto daily and how much of that goes to the government/ cryptojews?

I've been sitting around with a 11200 open order ALL DAY

I'm already 1.5x leveraged, trying to increase my position

you have to keep track of your cost basis and your sales crypto-to-crypto and crypto-to-fiat

your capital gains are calculated as the difference between your sale price and cost basis

your cost basis can be tracked LIFO or FIFO or average

if you have a lot of coins and some of them are getting close to a year old, it's beneficial to use FIFO cost basis to make your capital gains long term so you pay a lower rate

my order got filled, better entry point :^)

exiting at 11280

So many long fags in this thread getting rekt. I love it

AAAAAAAAAAAAAA

GET FUCKED

seeing tripfags get rekt is always fun

>Can I buy and sell crypto daily and how much of that goes to the government/ cryptojews?

Buy Monero in person or mine it.

Send to non-US exchanges (like Binance).

Trade. Get rich.

Move away from Burgerland, or just cash it out in small amounts as needed.

How is it going?

WELCOME ON BOARD, BILLY

>risking everything for 1% gains

just why do people do this?

>is it worth making money vs staying poor?

I have trouble understanding this line of thought. Are you implying that the risk reward ratio being off-balanced means you could make money more easily somewhere else? Because u can’t, u work 5 times as hard and still get taxed on your income...

Also where the fuck are you getting 40%, yes in the long run we get taxed for over 95% of our wealth when u combine all the taxes it takes to get to any one end transaction. But on paper they are just charging u the standard income tax rate which changes with each bracket, starting at like 15% and climbing to near 35%

>1% gains
huh?

WELCOME ON BOARD BILLY!!!

its leveraged you mong

Stay poor

WELCOME ON BOARD, BILLY

Even if it wasn’t leveraged, 1-2% gains per trade is FUCKING AMAZING.

I’m up 10k% since I started feb 1, and I’m just making 1-2% over and over again every day. Legacy market shitlords grind weeks for 1%

>leveraged

yeah, so basically online gambling.

well so is any trading
just even more risks/rewards

I have a long position set with x25 leverage at 10.5k

If you are gambling on crypto, u are doing it wrong.

The only gambling involved should be the risk of your exchange being hacked or bitcoin getting government FUD mid trade, which is also why u set tight stop losses.

If u feel that u are gambling you are either trading too much or not trading the correct asset are the correct timing

U will just be another one of these postsThat everybody looks back on in 2 hours and says OUCH

>Leveraged trading
>online gambling
>hurrr durr
Fuck trading leveraged commodities or forex as well, I guess? Fucking poor people, man.

so what did all these people do wrong:
twitter.com/bitmexrekt

being retarded maybe
like me

WELCOME ON BOARD, BILLY

They are people who think like you and try to gamble.

i don't leverage though? how am i a gambler?

It’s about what u trade and when/why that makes it gambling, not the amount of leverage.

I'm at like 1.6x leverage, I'm basically not getting liquidated so I can wait

LMAO