- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Official CryptoTalk Thread
Posted on 6/1/21 at 12:29 pm to Tiguar
Posted on 6/1/21 at 12:29 pm to Tiguar
quote:
It was reported that Tesla hasn’t sold any of their BTC
It was also reported Tesla made a significant profit solely because of BTC
I just realized something isn’t adding up
My understanding was that their last quarters numbers looked really impressive, largely because of the BTC run up.
1
Posted on 6/1/21 at 12:30 pm to Chucktown_Badger
yeh my question is did they report “profit” or just good valuation numbers?
someone was saying awhile ago “Tesla made more money off btc than they ever did cars” which implies profit
someone was saying awhile ago “Tesla made more money off btc than they ever did cars” which implies profit
Posted on 6/1/21 at 12:38 pm to Tiguar
They sold some, not all. Then the tweet indicated they won't be selling the remaining.
Posted on 6/1/21 at 12:38 pm to Tiguar
they sold 10% of it. Elon said "to test liquidity" lmao
This post was edited on 6/1/21 at 12:41 pm
Posted on 6/1/21 at 1:41 pm to 21JumpStreet
quote:
They sold some, not all. Then the tweet indicated they won't be selling the remaining.
he's def setting this up for his solar panel company.
Using his panels for energy to mine BTC.
Not a bad move for him and his solar company. Free advertisement
This post was edited on 6/1/21 at 1:41 pm
Posted on 6/1/21 at 1:52 pm to boomtown143
So Elon buys a bunch of BTC. Tweets. BTC goes up
He then bitches about how BTC is not green enough
Sells some of his BTC and BTC hits a very low price.
Elon builds solar panels off profits, for multiple purposes (which was probably in his plans all along) and is now ready to mine BTC.
He now tweets about BTC and probably will again in anticipation of rising the price of BTC. All the while he mines away. $$$
??
He then bitches about how BTC is not green enough
Sells some of his BTC and BTC hits a very low price.
Elon builds solar panels off profits, for multiple purposes (which was probably in his plans all along) and is now ready to mine BTC.
He now tweets about BTC and probably will again in anticipation of rising the price of BTC. All the while he mines away. $$$
??
Posted on 6/1/21 at 2:22 pm to Crawdaddy
This is what you get in a “free-market”
Posted on 6/1/21 at 7:16 pm to CecilShortsHisPants
Has anyone here ever converted a large amount of money on the pcswap/BSC chain. To roll to another major exchange
I have so many questions and don't want to start another disaster of a thread lol But im having trouble finding resources online
I have so many questions and don't want to start another disaster of a thread lol But im having trouble finding resources online
Posted on 6/1/21 at 7:52 pm to Stagliano
quote:what do you mean by a large amount of money? I’ve used pancakeswap quite a bit
Has anyone here ever converted a large amount of money on the pcswap/BSC chain.
Posted on 6/1/21 at 8:20 pm to OneMoreTime
Currently several hundred thousand. For now
But anyway, what is the most efficient way to move the money to say coinbase without losing a fortune between the exchange/gas, slippage, etc. And at what point does the IRS get involved? Only when it gets converted to fiat?
But anyway, what is the most efficient way to move the money to say coinbase without losing a fortune between the exchange/gas, slippage, etc. And at what point does the IRS get involved? Only when it gets converted to fiat?
Posted on 6/1/21 at 8:27 pm to Stagliano
Any time you turn a token into something else is taxable. It doesn’t have to be into fiat.
Posted on 6/1/21 at 8:29 pm to Tiguar
anyone read up on the Tether FUD and formulated a response? JP Morgan essentially out out a report saying they are ill equipped to convert Tether to USD due to how they’ve allocated the dollars backing the USDT, or something to that effect
People love to bag on Tether
People love to bag on Tether
This post was edited on 6/1/21 at 8:30 pm
Posted on 6/1/21 at 8:40 pm to Stagliano
quote:
Currently several hundred thousand. For now
Posted on 6/1/21 at 8:44 pm to Tiguar
quote:
Any time you turn a token into something else is taxable. It doesn’t have to be into fiat.
So it's a taxable event at each step? xxx > btc/eth > usd? How does that work. You self report at each conversion?
Posted on 6/1/21 at 8:47 pm to Stagliano
Just keep track of it.
If you buy btc at $10 and then it rises to $15, and then you buy eth with it, the IRS views it as you “selling” the btc to buy the eth.
So you would be taxed for capital gains on $5 profit.
If you take a coin you made a profit it and trade it for a others coin and take a bath, be sure to “sell” it and rebuy it before the year is over so you don’t owe taxes on profit you didn’t actually get to keep.
If you buy btc at $10 and then it rises to $15, and then you buy eth with it, the IRS views it as you “selling” the btc to buy the eth.
So you would be taxed for capital gains on $5 profit.
If you take a coin you made a profit it and trade it for a others coin and take a bath, be sure to “sell” it and rebuy it before the year is over so you don’t owe taxes on profit you didn’t actually get to keep.
This post was edited on 6/1/21 at 8:49 pm
Posted on 6/1/21 at 8:50 pm to SDVTiger
Moved my yield farms to Polygon/Matic. It's good stuff. I took a beating on gas from ETH to bridge it over, but now I feel like I can maximize yield farms with zapper.fi without gas eating all of my profits. To be fair, can do (and have done) this on BSC also, but Matic is even cheaper.
Zapper.fi will show me the highest ROI LPs on major exchanges (Sushiswap tends to be the highest) to stake in and keep track of where my money is when it's staked in LPs. Because gas is so cheap on Matic, I can move my money around for next to nothing and just continuously find the best yields. I'm sure taxes will eat my lunch with all of the exchanging.
Zapper.fi will show me the highest ROI LPs on major exchanges (Sushiswap tends to be the highest) to stake in and keep track of where my money is when it's staked in LPs. Because gas is so cheap on Matic, I can move my money around for next to nothing and just continuously find the best yields. I'm sure taxes will eat my lunch with all of the exchanging.
Posted on 6/1/21 at 8:50 pm to Hulkklogan
Just sell everything at the end of the year after it crashes and rebuy it in 30 seconds and tell the irs to pound sand.
Posted on 6/1/21 at 9:07 pm to Ross
Tether fud to complete the cycle.
I don’t know what to tell you if you aren’t seeing 2018 flashbacks
I don’t know what to tell you if you aren’t seeing 2018 flashbacks
Posted on 6/1/21 at 10:16 pm to Tiguar
Will be interesting to see if the Dems actually pass tax changes before yearend considering next year would be tough with midterms
Not sure I’d raise taxes on people with only a tiebreaker majority in 2022
Not sure I’d raise taxes on people with only a tiebreaker majority in 2022
Posted on 6/1/21 at 10:30 pm to Tiguar
quote:
Just sell everything at the end of the year after it crashes and rebuy it in 30 seconds and tell the irs to pound sand.
does it matter if you're in the hole whether you sell or not?
Page 1572 of 2239
Popular
Back to top
Follow TigerDroppings for LSU Football News