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Showing 20 of 437 results by 1Excalibur
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 15:25:36 UTC
CAn anyone please once again explain the strategy of tax-loss harvesting to me?
so the first step is to determine capital gains or losses for each position in your portfolio by subtracting the current price from the cost. take into account all your crypto holdings - not only those that are in the same wallet or on the same exchange. use the FIFO method. it minimizes the risk of short-term capital gains. In particular, you first sell the oldest positions, which means that you are more likely to receive long-term capital gains. maybe speak with your accountant to learn more about it. and last step is selling the position at a loss, and optionally, repurchasing the position to maintain the portfolio’s asset allocation.
thank you! that was helpful!
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 15:17:19 UTC
CAn anyone please once again explain the strategy of tax-loss harvesting to me?
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 13:49:15 UTC
it seems like lately, this crypto thing has turned into a religion…
the definition of "religion" in this case is not entirely appropriate. In fact, religion is everything that has a universal distribution. The real community plays an important role because people themselves value certain things, but this does not mean that all these things can be called religion.
I said religion because I have met people who follow all forums, YouTube and social networks, and they wake up in the morning and guess what’s the first thing that they do? they check the bitcoin price. if this is not a cult then I don’t know what it is.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 13:43:05 UTC
it seems like lately, this crypto thing has turned into a religion…
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 13:24:06 UTC
why would all of the sudden institutional investors increase their interest in crypto?
Facebook's initiative to develop its cryptocurrency is one of the reasons why institutional investors enter the digital money market. The possible launch of Libra pushed governments to regulate the blockchain industry, which makes investing in crypto assets more secure.
Another reason is the desire of different governments to issue their own national cryptocurrency as soon as possible. It also leads to regulation of the sphere of digital money and contributes to their acceptance by society, including institutional investors. their interest in Bitcoin will continue to grow thanks to the development of regulated trading platforms.
I thought the entire beauty of bitcoin is that it was supposed to be free of governmental intrudence
yes, but this feature has not become that attractive for institutional investors
so why do we need them in the market? let them stick to their precious GAP bonds and leave crypto to real community
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 13:18:30 UTC
why would all of the sudden institutional investors increase their interest in crypto?
Facebook's initiative to develop its cryptocurrency is one of the reasons why institutional investors enter the digital money market. The possible launch of Libra pushed governments to regulate the blockchain industry, which makes investing in crypto assets more secure.
Another reason is the desire of different governments to issue their own national cryptocurrency as soon as possible. It also leads to regulation of the sphere of digital money and contributes to their acceptance by society, including institutional investors. their interest in Bitcoin will continue to grow thanks to the development of regulated trading platforms.
I thought the entire beauty of bitcoin is that it was supposed to be free of governmental intrudence
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 13:00:03 UTC
I have a more interesting question to discuss: Bitcoin or altcoins? What cryptocurrencies will survive?
If you decide to invest in cryptocurrency, you should buy Bitcoin, because it is likely that it will be the only one to survive survive. altcoins can significantly fall in price
99% of all cryptocurrencies will depreciate or disappear, and only projects that have real application and are in demand will remain.
such as XRP?
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 12:50:41 UTC
I have a more interesting question to discuss: Bitcoin or altcoins? What cryptocurrencies will survive?
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 13/06/2020, 12:32:27 UTC
its weird that the coin is not in demand, despite a number of advantages. the percentage of consumers choosing it as a payment method is infinitesimal ... If people do not see the value in a coin, this is a problem. The world is filled with great products and services that have failed due to a lack of consumers….
maybe people are afraid of it because it is about to destroy 50 industries. it will replace banks in the payment industry, which is already happening in Africa. (cross-border transfers, electronic payments, protection of personal information and others)
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 11:54:16 UTC
during previous crises the S&P 500 bounced by 15-25% and then returned to a downtrend. If the index now demonstrates the same trend, it will go into a phase of falling from a mark of 2960 points.
but why Bitcoin Depends on the S&P 500?
In recent months, the digital money industry has been highly dependent on the stock market. The price of digital assets fell and grew along with stock quotes, which was especially evident in early March. One of the reasons is that investors in bitcoin and other coins fixed their positions in order to compensate for losses from investments in traditional assets.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 11:48:16 UTC
during previous crises the S&P 500 bounced by 15-25% and then returned to a downtrend. If the index now demonstrates the same trend, it will go into a phase of falling from a mark of 2960 points.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 11:26:06 UTC
Anybody knows why Bitcoin has risen in price to $ 9468???
who cares? they are just doing anything they want with its price.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 11:20:27 UTC
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 10:30:34 UTC
I have a feeling that the crowd is being trapped, almost all of them have been darkened at once.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 10:06:33 UTC
Friends, the question was about something else initially...
If there is a business that does not work with fiat ( does not exchange, does not withdraw, does not deposit, etc.), and it completes all transactions exclusively with crypto, then why should such a service register legal entities, a current account, comply with the rules Kyc? Specifically, what sanctions and from which authorities, which jurisdictions could threaten such a service?
the question is why such a business doesn’t want to implement the KYC procedure?
find a country where they do not pay taxes on cryptocurrencies.

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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 09:59:07 UTC
Friends, the question was about something else initially...
If there is a business that does not work with fiat ( does not exchange, does not withdraw, does not deposit, etc.), and it completes all transactions exclusively with crypto, then why should such a service register legal entities, a current account, comply with the rules Kyc? Specifically, what sanctions and from which authorities, which jurisdictions could threaten such a service?
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 12/06/2020, 09:19:08 UTC
the forecast for a rate of about $10,000 is very close to the truth, maybe something will change now after the halving, but it is immaterial. Halving is a purely technical event that will entail changes in the economy of Bitcoin, and the fact that people lose money is not connected with this event, this 95% rule is true for exchange trading. The scammers who do not borrow money, but buy cryptocurrency for their savings, will win.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 11/06/2020, 17:07:35 UTC
Hello everyone. I suggest  discussing whether we will see a cue ball more than $ 10,000 in 2020. To prove this assumption, I am posting statistics for past years.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 11/06/2020, 16:43:30 UTC
I generally believe that without losses - full-fledged traders do not exist. It is recommended to lose your deposit for a couple of times. Of course, the basic rule of a beginner is not to trade with a large depot and remember that, most likely, it will be lost.
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Re: Do I really have to pay taxes on crypto investments?
by
1Excalibur
on 11/06/2020, 16:03:31 UTC
The volatility of cryptocurrencies is one side of the payroll, but you still have to change part of your payroll to fiat, and this is the loss on commissions too.
Losses on commissions are small when there is no strong growth or fall of 2-3% at good exchange points. It takes a few minutes to create an application and pay, then you just need to wait until the transaction has 2-3 confirmations, and the money from the exchange office will automatically come to the selected payment system.
I think that in the future they’ll still figure out how to pay salaries in cryptocurrency so that we don’t lose when the market falls, maybe there will be some kind of exchanger or something else