ultimatebob
Lifer
- Jul 1, 2001
- 25,135
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Doubt it, stimmy checks have just started hitting.Is the rally over for now?
Yeah, I'm hoping for a stimmy bump in both Bitcoin and stocks. That said, I didn't qualify for this stimmy check even though I qualified for about half of the last one. Bummer. I wonder how many fewer people there are who are like me this go around, who didn't really need the money but got some anyway.Doubt it, stimmy checks have just started hitting.
Money isn't static. Eventually people will take that as profit (from selling things to people spending the extra $$$) and that's what goes into resolution of debts, paying of bills, or the investment sector: stocks, bonds, crypto, whatever.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.
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%.Getting such a high % return you probably do lose most of it to taxes I imagine.
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people cashed out early, many of them at a loss.It's crazy to think that if I bought 2-3 bitcoins when this thread was originally made, I would now have enough money to pay off my house.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.
Red is Canadian. Looks like his capital gains tax rate is up to 50%. Ouch.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%.
i don't think %50 cap gains tax rate is an accurate number.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.
Don't you also need to declare as income on top of that though? So that's another 33% or so. Not sure if the 33% would be calculated after the capital gains or before though. This is where this stuff can get so complicated and you definitely want an accountant.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%.
No. Not in the United States anyway.Don't you also need to declare as income on top of that though?
Shucks. Hopefully 1 Satoshi=1 Lambo soon.None currently. 50,000 Satashi is worth roughly $27 right now at current price of BTC.
I wonder if that's going to impact NFT's as well. Is something that doesn't really have monetary value really a "cryptocurrency"?
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?![]()