Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Let me clear up some misinformation being spouted. First of all, kraken got user funds they will be distributing next week or the following week to individuals. Secondly, settlements aren’t taxed as capital gains. Selling to pay taxes on these coins is a thing that will happen. Many people will likely owe hundreds of thousands of dollars in taxes based on their distribution regardless of what they do with the coins. The idea there won’t be selling is a fairytale.
Getting those coins back not necessarily means instant sell bc of taxes or am I wrong?
In the USA this quarter the payment date is Sept 16 2024.
So If you are a USA guy selling and paying makes sense . Now I used cap gains OGnasty thinks it reg income.
I do not know of any IRS ruling on how to classify this profit.
If it is income tax it is a lot higher rate then cap gain rate.
So a 10 coin guy could be looking at 200k tax if it is income tax and not cap gain far worse than the numbers I gave at 20%
I don't think it's regular income. The law states that it is regular income. I'm not guessing here like the rest of the people in this thread seem to be doing. I'd love to be wrong, believe me. It would benefit me financially. There's also no guarantee that Michael Dell or Blackrock doesn't just scoop up 10 billion dollars worth of BTC and make this a non-event from a price perspective. Those who have been around long enough probably remember Tim Draper doing something similar with the US auction of BTC back when it was below $1,000.
He is not shorting, but 'correcting misinformation', lol 
Is this hard for you to understand? I've said repeatedly I'm not a trader. My cash flow is provided by value stocks that pay increasing dividend amounts (see: Dividend Aristocrats), not speculating on Bitcoin. I'm definitely not short by any stretch of the imagination and never have been. If you think me saying BTC will be $135K by April is my way of trying to manipulate the market lower, you are indeed special. Let me say this again for the people in the back. Nothing anybody says here has any effect on the market whatsoever.