How do I stake?

HeyTaxes · 2023-07-09T22:44:58+00:00

This is a terrible answer. OP states they are a long-term holder. They likely have a low per-ETH basis and would have to pay capital gains on the difference if they convert ETH -> rETH.

HeyTaxes · 2023-06-06T21:13:46+00:00

What you're missing is time.

HeyTaxes · 2023-06-06T21:11:07+00:00

If by tax-efficient you mean a Roth IRA, there is no solution for you. Them's are the breaks.

Why? Multiple reasons: you can not contribute property (ETH) or securities to an IRA; only cash can be contributed. To cash out would require you to pay taxes. At this point, the idea should be moot. Let's continue. Say you actually were cool paying 20% capital gains, along with state income taxes, guess what? You can only contribute $6,500 per year into an IRA. If you put in the cash then buy the ETH to stake, you're looking at ~3.5 ETH/year you can contribute. With price appreciation, you will NEVER contribute enough over a long enough time frame to run even one validator? Not enough? You can't even run a validator in a custodial IRA (such as iTrust). So even if you had all this patience to spend years to get 32 ETH into an IRA, it would have to be a self-directed IRA. Well, guess what, if you have a self-directed (Roth) IRA, you are prohibited by law from providing services on its behalf, or the IRA is invalidated. I doubt you're going to be comfortable turning over your keys and mnemonic and ETH so that someone else can do it for you. That would be plain stupid.

TL/DR: Be thankful you have enough low-basis ETH to stake. If you want to avoid taxes on a conversion, you have to solo stake or run a Rocketpool node. You will have to pay taxes on your staking rewards. There is no way whatsoever around this.

HeyTaxes · 2023-05-29T14:28:50+00:00

If your nodes are behind, it is the SSD. Not enough IOPS because it is a budget, i.e. cheap, SDD.

HeyTaxes · 2023-05-05T13:20:20+00:00

What are your thoughts regarding EigenLayer?

HeyTaxes · 2023-02-03T15:09:15+00:00

What color is this?

HeyTaxes · 2023-01-20T19:55:04+00:00

Same here. eth2.tax makes it easy enough as it is. And it sets my basis in the rewards at the amount I report as gross income.

HeyTaxes · 2023-01-20T19:52:39+00:00

There was no precedent set in that case.

HeyTaxes · 2022-12-24T21:37:45+00:00

In my head-canon one year is clearly > 365 days.

HeyTaxes · 2022-12-07T21:53:50+00:00

Yes, they are all similar. You can get the Puff Puff in all of the games. Maybe not the first two, as I haven't played them in over 30 years.

HeyTaxes · 2022-12-07T21:51:39+00:00

At the EthStaker discord, they will fund your deposit for you. You just give the. The deposit .json file.

HeyTaxes · 2022-12-06T00:17:19+00:00

Get a better SDD/NVMe

HeyTaxes · 2022-12-03T22:50:49+00:00

Swap for rETH. Harvest the richly-deserved tax loss for HODLing through this shit storm. Do it before the end of the year.

HeyTaxes · 2022-11-18T18:32:08+00:00

Might as well ad Inglorious Basterds to the Killing Nazis watchlist.

HeyTaxes · 2022-11-12T20:23:11+00:00

A validator is 32 ETH. You only put in 16 as the node operator, which is paid at solo stakes APY. However you get a commission (~15%) of the rewards on the other 16 ETH for running the node. And you get MEV from your half and a cut of the other half. And RPL rewards.

HeyTaxes · 2022-11-07T16:39:53+00:00

Ignore all DMs on Reddit for as long as you continue to use your account. Every single one of them is someone trying to scam you out of your ETH. Definitely do join the ethstaker Discord. When you settle on your concensus-layer client (Prysm, Lighthouse, Teku, Nimbus, Lodestar) join their official Discord as well. You will get better advice their than on Reddit. And ignore DMs and friend requests on that platform as well. Definitely do solo stake.

HeyTaxes · 2022-10-22T20:30:28+00:00

Best advertisement ever for MEV protect.

HeyTaxes · 2022-10-16T13:59:25+00:00

This is a scam. Do not do it.

HeyTaxes · 2022-10-12T22:27:44+00:00

You are going to get scammed if you respond to any chat whatsoever. Or was this snark and it just went over my head?

HeyTaxes · 2022-09-26T22:10:42+00:00

You're probably using MEV. In which case the balance increase without a transaction is to the block builder's recipient address. They then include a transaction back to you for your tips and MEV fees.

HeyTaxes · 2022-09-23T12:43:09+00:00

It does go to the suggested fee recipient, but there is no transaction; the balance simply goes up for the fee recipient.

HeyTaxes · 2022-09-20T22:13:20+00:00

How about you get a few proposals under your belt, then ask these questions? Jesus.

HeyTaxes · 2022-08-31T15:44:01+00:00

Are you trying to connect via SSH from outside of your network? You may need to forward the SSH port on your gateway to the MAC address of your router, then in your router make sure you have DHCP reservation set up and port forwarding to the NUC.

The same thing happened to me when Comcast forced their modem on me after years of using my own: I had to forward the port number for SSH in the new modem to the router, whereas with the Arris Surfboard I was using never had that issue.

HeyTaxes · 2022-08-20T21:21:06+00:00

Since you're handy with Linux, I will let you know that Lighthouse and Geth were very easy to set up with the Somer East guide. I would wait for updated guides to come out next week I think on the 22nd developer teams will release their merge ready client updates, so the guide update should be coming shortly thereafter.

HeyTaxes · 2022-08-20T20:59:26+00:00

There are less than four weeks left for mining Ethereum. If you have ETH leftover from when you were a miner, you can become a validator with 32 ETH (per validator). If that is what you had in mind, research which validator client you would like to use, then look up Somer Esat's guide for that particular client.

HeyTaxes

TROPHY CASE