Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
^ You guys over complicate things.
A simpler math (for US only):
FU status=$2mil in cash. Long term cap gains are 23.8 % in US, maximum, so you would need to produce about $2.56 mil in profit from a sale (I tried to account for 0-89.25K 0% tax, 89.25-250K 15% tax no NIIT, 250K-553.8K 15% tax+3.8% NIIT and above 553.8K-20% tax+3.8% NIIT; all for married, filed jointly).
If, for an argument's sake, your cost is very low, then you'll need about 50 BTC to sell in order to achieve the FU status in about an hour using bitcoin alone (with taxes all accounted for). Adjust 50btc to a higher number if your cost is much higher, like above 5K (every 5K increase in your cost= about 10% increase in the number over 50BTC to achieve bitcoin- only fu status; example-if your cost was 20K, then you'll "need" to sell about 81 btc right now to almost insta-achieve fu status by bitcoin alone).
Just look at the spot, where you can sell right now, not some fancy 200WMA.
The spot is where you would be selling in case of a need to cash out to achieve fu or to buy something substantial, like a nice house, a small ranch or a lake
.
A simpler math (for US only):
FU status=$2mil in cash. Long term cap gains are 23.8 % in US, maximum, so you would need to produce about $2.56 mil in profit from a sale (I tried to account for 0-89.25K 0% tax, 89.25-250K 15% tax no NIIT, 250K-553.8K 15% tax+3.8% NIIT and above 553.8K-20% tax+3.8% NIIT; all for married, filed jointly).
If, for an argument's sake, your cost is very low, then you'll need about 50 BTC to sell in order to achieve the FU status in about an hour using bitcoin alone (with taxes all accounted for). Adjust 50btc to a higher number if your cost is much higher, like above 5K (every 5K increase in your cost= about 10% increase in the number over 50BTC to achieve bitcoin- only fu status; example-if your cost was 20K, then you'll "need" to sell about 81 btc right now to almost insta-achieve fu status by bitcoin alone).
Just look at the spot, where you can sell right now, not some fancy 200WMA.
The spot is where you would be selling in case of a need to cash out to achieve fu or to buy something substantial, like a nice house, a small ranch or a lake
.Well, each one is different. In the end, whatever suits each one of us is the best strategy.
As for selling, are you sure you want to park $2M of fiat in a bank account in one sell? Don't you want to shave off small amounts from your stash as and when required?
A "buy when you can, sell when you must" approach.
Just saying...