Official Bitcoin Thread

[stuntman mike]

i’m kinda joking and kinda not. shaved off 3/4 of this bag at $10 and $12 months ago to swap into coins that have gone pretty flat and i see this happen today. i mean,,,i’m in good profit but man…it’ll probably continue to blast off cause of a kucoin listing tonight.thank goodness i held some back.

 

[mplsdunk]

I repped you a sad face because you shaved some off but I’d also rep you a if I could because you’re making money (unrealized for tax purposes).

 

[DLF]

Noob question as I haven’t sold a single coin

how do taxes work for crypto money gains?

 

[D Double]

that would be ridiculous. it's part of the reason why i mostly stake only a day at a time for free crumbs and stay liquid.
the everest dex coming hopefully this year has an interesting line-up of tokens planned and bob said that they chose many of them from ftx.

I bought 167 tokens with some spare change I had on my Phantom wallet and it said 2 percent price impact.
Either I'm late or someone cleaned house overnight

 

[cs02132]

Anybody know anything about kadena? My boy brought it up like 3-4 weeks ago but I never looked into it. This past week I’ve been seeing it being mentioned a lot and now I just checked and it’s up almost 800% this month
Guess I should have listened to him
I think he was talking about looking into a kadena miner

 

[johnnyredstorm]

Someone needs to create a crypto app that shows all your investments.

What you have on every exchange/wallet.
What you have staked.
NFTs you minted.
All in one place.

Probably 5 years away from that though.

Zapper.Fi literally does this for EVM chains

 

[D Double]

Someone needs to create a crypto app that shows all your investments.

What you have on every exchange/wallet.
What you have staked.
NFTs you minted.
All in one place.

Probably 5 years away from that though.

Step Finance does this for Solana as well. Even tracks what you have staked in Defi.

 

[essential1]

Sell off weekend. Damn you federal holidays.

 

[johnnyredstorm]

blame the Ethereum foundation for moving 90mill to Kraken

I expect supply to get absorbed, but there's going to be a short term drop first

 

[Air Champa]

I personally don't mind if Eth chills for a little while.

Looks like we ain't getting a spot ETF this year.

 

[johnnyredstorm]

Either ETH needs to ******* DIE

or

Cool Cats and CyberKongz need to drop under 3 ETH

Smh

 

[itshlittt]

airdrop incoming for xrp holders.

 

[johnnyredstorm]

start using the swap feature in metamask instead of going to uniswap or sushi to buy alts

set yourself up for a potential airdrop

use diff wallets too

 

[stuntman mike]

lol @ that gas fee.

i just spent some time claiming rewards and redelegating and repooling on different networks and each transaction has a cost but at a fraction of a penny. ethereum gas is too rich for my blood rn.

also, i checked the price of my klima today and was like…

 

[noskey]

Guys, for tax stuff I was researching last night and koinly.io seems to have a lot of good info. I'd suggest giving that a review if you can.

 

[pdino]

Noob question as I haven’t sold a single coin

how do taxes work for crypto money gains?

Switch your coin to Bitcoin. Google your local btc atm.

Anybody know anything about kadena? My boy brought it up like 3-4 weeks ago but I never looked into it. This past week I’ve been seeing it being mentioned a lot and now I just checked and it’s up almost 800% this month
Guess I should have listened to him
I think he was talking about looking into a kadena miner

It’s hyped layer 1. Can run several chains, process hundreds of thousands of transactions, < Penny transaction fees on POW (btc pays with transaction fees, since fees are so low, they leave a pool of $ to pay miners instead is using transaction fees.) if you want to start a position, I’d wait for a dip.

Things I didn’t like about it: it’s still developing: wallets,dexes, defi, etc. are limited. High inflation. Started by JP Morgan bankers

 

[BIG LEEMELONE]

Switch your coin to Bitcoin. Google your local btc atm.

The fees an ATM would take are almost worse than taxes no?

 

[johnnyredstorm]

KDA is probably EOS 2.0

if you want it, buy it during a bear. There is no adoption and dapps are nonexistent. You’ll have time

 

[pdino]

The fees an ATM would take are almost worse than taxes no?

Coin flip/coin source charge like 7-10%. Tax man wants 30% from me, not sure about your situation. You can take out much cheaper with coinbase or other ways, but they’ll be on the record

 

[BIG LEEMELONE]

Tax man wants 30% from me, not sure about your situation. You can take out much cheaper with coinbase or other ways, but they’ll be on the record

Honest question. Wasn't sure how much the ATM was taking

 

[pdino]

Honest question. Wasn't sure how much the ATM was taking

Some of them are rip offs for sure, up to 25%. I edited my post, included the lower fee ones. Might have to hunt them down, but would be worth it.

If under 10k/annually Fed’s probably won’t catch on to you from traditional methods of cashing out. >10k, they’ll get alerted from your exchange and from your bank. If you get the form in the mail, your exchange reported and you’ll have to report as well.

Not financial advice…not an accountant, just done my taxes several times

 

[datznasty]

How come if I google how much is 1 sol is says .25 cents? This lead me to taking the time to create a SOL wallet and learning about the SOL blockchain and secondary marketplace, then thinking I was about to mint the first SOL waifu for 75 cents and come up, only to join the discord (grade A shenanigans going on in there) and then get invited to another NSFW sex related sol nft group, then find out its too rich for my blood anyways. back to trying to get an ape or any of the other millions of poorly drawn jpg nfts

 

[mplsdunk]

no way in hell they are going to get everyone's little petty transactions if they do that $600 dollar thing and just go after everyone. typical America,

"we have to tax the 1%"

"lets just audit everyone else and leave the 1% alone"

I'm just going to go off whatever coinbase gives me since thats how I transfer it to my bank.

 

[Majorbread]

bitcoin.tax is helpful and has api integration from a lot of exchanges + integrates with turbo tax

 

[KanyIZZY]

Copped like 5 bucks in coin and 10 in shiba bc I wanted to start but I have practically no idea about this stuff lol.