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re: Official CryptoTalk Thread
Posted on 7/30/21 at 12:27 pm to rocket31
Posted on 7/30/21 at 12:27 pm to rocket31
Once you get to a certain point of accumulation, you have no real staking benefit. The DeFi apps are what, 0.5 or 1.0 bitcoin at 5-6% then it drops significantly? I’d prefer to store the rest of my stuff in cold storage when I don’t get an additional big benefit from Celsius or BlockFi.
1
Posted on 7/30/21 at 12:28 pm to rocket31
quote:
after that though?
All depends on if and when staking is released I would think . Also if there’s any big news that comes out the conference or during Sergeys fireside with the mystery guest
Posted on 7/30/21 at 12:33 pm to TigerTatorTots
I mean I can take out a usd loan against my bitcoin and use the worthless fiat to live off of
you just going to store in it a cold wallet the rest of your life and look at it?
you just going to store in it a cold wallet the rest of your life and look at it?
Posted on 7/30/21 at 12:34 pm to CE Tiger
quote:
Also if there’s any big news that comes out the conference or during Sergeys fireside with the mystery guest
it's pretty big news they're working with bitcoin stacks imo. I'm surprised people aren't making a big deal about it
Posted on 7/30/21 at 12:37 pm to rocket31
I’m not to the point where I need a USD loan. That is on the horizon but I’m not there yet, I don’t need it. Not looking to increase liquidation risk while I’m still working a job I like and get paid too much to do it. So yea, if I was looking to get a usd loan, sure cold storage would not be needed. Because I’m not looking to do that, I’ll max the BTC I have on DeFi apps taking advantage of the higher payout up to the first cap. Then the rest is in cold storage
Posted on 7/30/21 at 12:39 pm to TigerTatorTots
quote:
sure cold storage would not be needed.
it's still not needed if youre just going to hodl it
unless you think coinbase is going to steal it from you or something lol
Posted on 7/30/21 at 1:00 pm to rocket31
Posted on 7/30/21 at 1:08 pm to rocket31
quote:
bitcoin stacks
Why isn't stacks a bigger deal than it is? Seems to me like this would be the next best thing after bitcoin.
This post was edited on 7/30/21 at 1:08 pm
Posted on 7/30/21 at 1:10 pm to 21JumpStreet
well they still have people waitlisted like me 
but yea tbh I'm not really sure why it's not talked about more
but yea tbh I'm not really sure why it's not talked about more
Posted on 7/30/21 at 1:29 pm to rocket31
Tempted to exchange some link for more btc with this pump…
Posted on 7/30/21 at 1:32 pm to TigerDeBaiter
Dangerous game to play with SmartCon around the corner
Posted on 7/30/21 at 1:42 pm to CE Tiger
True. Probably good to hang tight and just set a limit for like .001 link/btc in case things get crazy.
Posted on 7/30/21 at 2:12 pm to TigerDeBaiter
so yeah. looks like they might try to tax us for moving coins from an exchange to a wallet or wallet to wallet
This post was edited on 7/30/21 at 2:19 pm
Posted on 7/30/21 at 2:25 pm to rocket31
So I'd possibly need to get my crypto back on an exchange prior to this law taking effect to avoid being taxed on merely moving it from one place to another? Ain't that some bullshite. I'm not taxed when I deposit money to my bank account.
Posted on 7/30/21 at 2:32 pm to rocket31
quote:
so yeah. looks like they might try to tax us for moving coins from an exchange to a wallet or wallet to wallet
wait what?
Posted on 7/30/21 at 2:34 pm to rocket31
How on earth can they expect to track DEX swaps and mining pools?
Lol this, IMO is a nothing bill.
I link my hardware wallet to the DEXs I used and keep all my LP farm rewards on the DEX. No way they can track that IMO.
Lol this, IMO is a nothing bill.
I link my hardware wallet to the DEXs I used and keep all my LP farm rewards on the DEX. No way they can track that IMO.
Posted on 7/30/21 at 2:35 pm to Ross
This has been my main concern actually, if they can't accurately trace and tax your gains from purchase via the exchange, they could just say, well 100% of this position is gains then. I've heard this mentioned a few times on podcasts and it always stuck out to me as the worst case that's still believable.
Posted on 7/30/21 at 2:38 pm to rocket31
quote:
think this guy is being a bit dramatic
I don't. The state and crypto are fundamentally incompatible. The state will make every effort possible to stifle crypto development and usage.
Posted on 7/30/21 at 2:39 pm to JayDeerTay84
quote:
How on earth can they expect to track DEX swaps and mining pools?
they cant
but i can see them trying to implement some type of KYC wallets that they "force" us to use. theyll try to make it so you can only used "approved" wallets to store your bitcoin that they can track
Posted on 7/30/21 at 2:48 pm to rocket31
man I’ll just ignore that
frick em
frick em
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