/biz/ - Business & Finance

>>30393551
Every pump helps

I’m terrified I’m going to get liquidated while I’m sleeping even though my health factor is insanely high

my’re face when 99% of the population is too dumb to do anything to overcome their social conditioning and persist in willful ignorance

>>16951400
then pick better
I just swipe down a few times when I need something fresh.

>>16951413
>No long positions
BAGGIE WHAT THE FUCK
THIS MAKES YOU A BEAR
AND THAT MAKES YOU A FUCKING LOSER

Let’s see if I understand crypto taxes in the US.

Say I buy $1000 worth of USDC. I use this to buy a different coin. This event is taxable, but because USDC didn’t gain in value before buying the next coin, the tax amounts to $0.

The coin I bought appreciates to $1200 in value. I decide to sell into USDC. This event is taxable, and I get charged short term capital gains on the $200 worth of profit.

I then convert the USDC into USD. This too is taxable, but again USDC did not change in value relative to the dollar, so taxes again amount to $0.

At the moment of a trade, we are only taxed capital gains on the increase in the value of a coin (if any) relative to the dollar. If there was no gain, there is effectively no tax. Do I have this correct?