ultimatebob
Lifer
- Jul 1, 2001
- 25,135
- 2,445
- 126
Is the rally over for now?
Doubt it, stimmy checks have just started hitting.
At least around here I see evidence that stimmy checks are going to travel, restaurants, and all the other stuff people put on hold during 2020.
Getting such a high % return you probably do lose most of it to taxes I imagine.
It's crazy to think that if I bought 2-3 bitcoins when this thread was originally made, I would now have enough money to pay off my house. Not considering any kind of taxes, then 1 would be enough.
Though in reality it's probably very hard to actually cash out that kind of money without setting off red flags and alarms so you'd want to get a lawyer and accountant to do it the most efficient and legal way possible. Getting such a high % return you probably do lose most of it to taxes I imagine.
Not really. At least in the US, currently long-term cap gains is 20%. Then you'll pay the 3.8% ACA Medicare tax on everything over $200k. So, at most, you'll pay 23.8%.
Red is Canadian. Looks like his capital gains tax rate is up to 50%. Ouch.
I went back and read the old g&vc btc/crypto thread around the 2011-2012 era. good lord that was a wild time with the theories/strategies, the micromanaging of miner settings, and the rollercoaster of btc prices from all the drama with the exchanges.Odds are that if you had 3 bitcoins in 2013, you would have sold them a long time ago. Most people cashed out early, many of them at a loss.
It's like a real life version of playing "Who wants to be a millionaire"... most people never stick around for the million dollar question, and cash out early because they aren't willing to risk a life changing amount of money for a chance of making a fortune.
Before you let regret and FOMO take over your investing decisions, you gotta ask yourself... would you have REALLY held onto your Bitcoin in 2018 when it dropped from $18,000 to $3,000? I wouldn't have. Even a "smart" investor would have dumped it early and bought the dip at the end of the year.
Not really. At least in the US, currently long-term cap gains is 20%. Then you'll pay the 3.8% ACA Medicare tax on everything over $200k. So, at most, you'll pay 23.8%.
Don't you also need to declare as income on top of that though?
None currently. 50,000 Satashi is worth roughly $27 right now at current price of BTC.
everytime someone tries to explain NFT's and their 'value' i just lmaoI wonder if that's going to impact NFT's as well. Is something that doesn't really have monetary value really a "cryptocurrency"?
Will I have to stop sending Coolcoin (Which is technically an NFT, before NFT's became cool) to India? If I do, will Modi send hitmen out for me?