i assume he means sold the coin for cash not exchanging eth to btc

thats what i figured but he also said he buys new tokens by swapping w eth

i think what he meant was he buys risky coins and when he profits enough he sells and pays taxes on the profit then whatever is left he dumps into something more stable like eth

Not 100% sure tho

Nah they tax you everytime you sell eth to btc or btc to any alt coin not just for cash

tax or fee?

Taxed according to the cap tax gain law lol

lol that f***ing sucks

Why a lot of people in crypto don’t do taxes and just find other ways to cash out

tax filings gonna look like a harry potter book

swap is considered a sale by the irs 🙃🙃

s***s not really fair when you consider rich people do asset swaps and never pay a penny of tax on it

I normally have fallen in a pretty low rate though and I haven't had to pay much

you only pay tax on the money you made not the total sold amount

Ima need a fye cpa for next tax szn 🤣

yeah this year I'm gonna have so many trades to report smh lol

one thing you can do to avoid some taxes is using collateralized crypto loans but you need to have a s*** load of crypto other wise you will get liquidated if prices crash fast

the nice thing though is that you can use your ETH to take out some more ETH
that way you can still pay long term rates on your ETH when you wanna sell it and not have to cause a taxable event

S&P 3500

Better off investing that money yourself

lol teach me

Not really, but i also dont use crypto as a primary source of income (and i'd wager a relative few investors do).

It is unfortunate that crypto likely isn't as accessible to many working class people — either because they feel like it's too much of a gamble for their wages, or they simply don't have the time it takes to learn about the technology/market.

But i'd take that unfortunate reality of class disparities any day over the stock market, where hundres/thousands of employees can be laid off at the snap of finger because their company's market price transformed — due to anything from corporate mergers and fraud, to (relatively trivial) bad publicity or market speculation in press.

@0

Thought on Numeraire? I saw it was added to coinbase recently and was reading over their whitepaper and "master plan" earlier...

I'm not really fan of some things said by them in that stuff, such as:

Even just the way the underline "1+2=3" and and then say "4 would be nice too" after listing the steps of their "master plan" doesn't give me a positive view of their convictions...

S***coin

You’re to late if it’s already listed on Coinbase the goal is to catch these s***coins before they list on big exchanges

Wtf is yfi

You the goat on god

TSLA dropped immensely holy s***

Wat