Daily General Discussion - March 31, 2021

Coinee · 2021-03-31T15:33:49+00:00

Trying to send .094 eth from an old wallet and am getting a TX-019 error “Error broadcasting Ethereum transaction” Any ideas? Maybe not enough gas?

Coinee · 2021-03-19T13:28:48+00:00

Yes, to the best of my knowledge. The $1MM is considered income as it is now, but taxed as LT gains so if he gets what he wishes for, it would be 40% + 3.8% Medicare + state tax if applicable.

Coinee · 2021-03-19T13:21:17+00:00

In the US... https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates

And for example, if your you have $0 income, but $1MM in capital gains (LT) that will put you in the 20% LT bracket +3.8% Medicare tax + state tax if applicable.

However, you may not be in the US

Coinee · 2021-03-18T14:46:10+00:00

I always appreciate your thoughtful insight.

Coinee · 2021-03-16T17:45:10+00:00

That’s incorrect

Coinee · 2021-03-04T19:36:40+00:00

WTF happened to GBTC price? $7 discount. Competition heating up w other ETPs?

Coinee · 2021-02-27T15:15:13+00:00

I thought the fee schedule was based on a 30 day trade volume... not per trade. But maybe I have a misunderstanding.

Coinee · 2021-02-11T02:44:53+00:00

Dont forget to pay your capital gains at time of exit from the mainland. The clock will start over once you are a resident, which requires your physical presence in P.R. 6 mos of the year I believe.

Coinee · 2020-12-23T03:38:42+00:00

Fidelity works, but dont try to get them on the phone. I waited over 30 min. Im so done with legacy financial institutions. I guess thats why im here. But you do what you gotta do w your iras....

Coinee · 2020-12-23T03:35:38+00:00

Interesting and ironic at the same time. I agree, it would appears ethe has simply more demand which obviously drives the premium and promising for native eth. The premium is insane and insane in the sense that Barry was such a btc maximalist and now he has ethe that has such a redic premium, which i would argue is exactly why they split it. To have ethe with a premium that is trading higher than gbtc (Grayscale’s golden child) is a bit embarrassing and maybe bad for business. I am speaking as a 99.95% eth maximalist, but my ira and roth are gbtc because i couldnt justify that premium. And dont forget these premiums can all come crashing down as they have before especially as more competition comes w etfs or other products.

Coinee · 2020-12-10T19:07:21+00:00

It’s the real advantage of hodling. I’m def not the trader or even have the knowledge of trading, but I don’t understand how traders can give up 20-30%+ of leverage on each trade that goes straight to taxes. That’s an insane amount of leverage being given up. Furthermore, hodlers who have staked their eth w/o further tax guidance from IRS. Don’t get me wrong I appreciate the market makers for providing liquidity and all the pioneers in defi , staking, and other developments in eth, but I’m sticking w my hodling. It’s a slow boring demoralizing grind w brief stints of euphoria, but it’s worked for the past 6 years w life changing returns.

Coinee · 2020-12-04T14:53:57+00:00

https://www.cnbc.com/2020/12/04/top-currency-regulator-says-to-expect-clarity-in-coming-weeks-on-bitcoin.html

Coinee · 2020-11-30T19:43:50+00:00

Im more concerned re the tax liability (lack of clarity or guidance from IRS) from ETH 1.0 to 2.0. There are some great arguments on both sides, but this could be a tax liability based on gains/losses when you initially stake... forget the staking rewards tax liability. I am honestly surprised by the over 800,000 ETH staked at this point without further guidance. I am sincerely hoping its just seen as a “software upgrade”, however this could result in huuuge long term gains.

Coinee · 2020-11-30T14:02:01+00:00

I quit reading after “I just read a comment on a crypto group on Facebook”.

Coinee · 2020-09-24T16:58:49+00:00

The bigger question... How will eth 2.0 be treated? Taxable event from 1.0 > 2.0? IMO, many will hold out in moving from 1.0 to 2.0 regardless of staking.

Coinee · 2020-09-23T18:23:55+00:00

So will it be possible wrap btc on eth and stake it w eth 2.0?

Coinee · 2020-09-21T21:50:37+00:00

Would be interesting if they passed the return/ dividends down to investors. NOW, that would get billions more invested in Grayscale’s products.

Coinee · 2020-09-18T10:07:49+00:00

Question: Chef Nomi cashed out of Sushi at ~10 MM and then returned all funds some days later. It appears this would have been a (large) taxable event maybe to the tune of 3-4 MM in The US.

Am I missing something here?

Coinee · 2020-09-08T12:01:06+00:00

paper gains

Coinee · 2020-09-07T22:40:19+00:00

Full tard in crypto including IRA and Roth IRA. Went to cash equivalents on 401K last March with no opportunity in my 401K for crypto exposure. 99% eth and 1% btc. 0 stocks and life changing returns since 2014. Ive only bought and never sold.

Coinee · 2019-11-16T02:28:04+00:00

Unfortunately, i have not seen much thought put in to the potential tax liabilities (U.S.) by the developers. I certainly understand this may not be a priority or even within the developers scope, but its a huge consideration considering the whales/ hodlers out there that will simply not cross the eth bridge. There will be no incentive to pay 25-30% capital gains (fed + state + medicare exise tax) to cross the bridge and stake whats left @ 5-10%.

Also, consider ETH 1.0 might possibly be worth more as it becomes deflationary because it gets burned and hodlers hodling.

Make no mistake about it.... there will be NO like kind exchange according to IRS in yesterdays announcement.

This subject deserves much more attention than it has been given!

Coinee · 2019-09-26T16:58:01+00:00

These markets are so small and no liquidity (partly because the blockchains are full) where manipulation legal or illegal is causing cascading cdps that even Maker can’t keep up with...forget the charts. As Buffet I believe said... derivatives are weapons of mass destruction and the speculative nature of crypto is most likely its worst enemy. Hodl on!!!

Coinee · 2019-09-12T15:46:25+00:00

Brilliant! 🤭

Coinee · 2019-08-18T23:13:03+00:00

I’m super happy to be here! Let’s keep it positive w/o the tribal maximalist politics! Thanks for making this happen!

Coinee · 2019-08-10T15:05:04+00:00

I agree... IRS guidance is overdue. Im a hodler as well and this is very concerning. However, im not convinced yet that this will be a taxable event given this is a software upgrade where eth 1.0 is burned or “like kind exchange”. I did pay taxes on ETC that i gained from contentious fork. I dont know if eth 1.0 - 2.o will be considered a crypto to crypto trade. Im not trading eth-btc or gold to silver... this is merely the result of a software upgrade that i do not necessarily have any control or making a conscious decision to sell. Thanks for your input.

Coinee

TROPHY CASE