Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Low IQ would accompany this sell attempt
This dip for ants?
Ants are only causing trouble when appearing in masses
Yesterday i was thinking about opening a leveraged long position until december, but i would have to pay taxes for closing it within 12 months
Wait, so you wanna take an opportunity/bet and when gaining/winning money you don't have, you would be angry paying taxes
So you prefer not having any at all??
Me not a trader or any..... But i mean you believe in gaining and don't wanna gain bc you have to pay some off?
Oh, i'm not greedy at all.
This needs more explanation: I would have to pay taxes for the closing, before EOY and additionally income taxes until Q2 the following year. My goal would be to gain more BTC, but at the current state of law, the gain would have to be calculated in fiat equivalent, so i would have to sell a part of my BTC gains right after closing the long. If i sold the tax part later, when we're maybe in a bear market again, the gains (in terms of BTC) would be a lot smaller. Hereabouts the law says a trade is taxable if the holding time is below a year. Now, if i sell BTC in advance for paying taxes, this amount will also be income-taxed, which i think can safely be called double-taxation.
Make a mistake and they charge you a fine, too.
It would have been a good idea to 10x at least, but on a 10% dip i'd be pretty fucked. The main goal is to preserve and grow the stash, so at my level of risk-adversity it looks like a no-go. I would probably have gone x2 or x3.