21–30 of 92 posts
> We the Cypherpunks are dedicated to building anonymous systems. We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money.
If a country gives you zero practical assurances when it comes to protecting your crypto assets, what is the tax for?
What would that look like?
If a country gives you zero practical assurances when it comes to protecting your crypto assets, what is the tax for?
> Doyle says many crypto investors mistakenly think they can sell some Bitcoin to buy some Etherium, and that making that a switch like that did not trigger an obligation to pay tax. Make a stupid rule, be surprised people are non-compliant.
If a country gives you zero practical assurances when it comes to protecting your crypto assets, what is the tax for?
Article seems to suggest if you make gains but lost them later you still need to pay tax on the gain?! That's strange..
Article seems to suggest if you make gains but lost them later you still need to pay tax on the gain?! That's strange..
It makes sense when you think about it. If you made a huge capital gain and then "lost" it in Vegas how is that different than "losing" it via other means? Also, if this wasn't the case, it'd be a massive, gaping loophole. "Oh, I settled this stock in another currency, so I don't owe taxes yet/ever". There are some situations where it maybe there should be an exception. When employee stock options are exercised, that…
Article seems to suggest if you make gains but lost them later you still need to pay tax on the gain?! That's strange..
You buy a bitcoin for 20,000. You sell it for 50,000. At this point you probably owe capital gains on 30,000. You then take the 30,000, use it to buy an NFT, and later sell the NFT for 0.01 (because NFT). At this point you have had gain of 30k and loss of 30k. Now, it's going to depend a lot on exactly when all this happened and in which jurisdiction, but in many countries you probably owe tax on the 30k.