/biz/ - Business & Finance

technically yes but you'll make far more gains if you just hodl

t. guy who used to exclusively swing and realized I could've made dozens of thousands more by just holding good projects early

imo if you want to swing have one dedicated bag for it but don't swing your entire bag

>>30078264
probably true. I started doing this when everything was starting to crab and it has worked out nicely.

>>30078199
Sounds like an interesting strategy. What happened in the 1 time it didn't work?

>>30078344
I set a stop loss at 15%, and it has only been triggered once with fucking GRT.

>>30078341
I'll give you a good example, bought Parsiq early and made pretty big gains swinging after it pumped and also off of subsequent swings but if I had just held my PRQ I'd have more money than I currently do.

Also, funnily enough, bought Rubic at 2 cents and sold at 7 cents. That doesn't particularly bother me though because Rubic was a bit of a black swan.

Thought about this, but would all the crypto to crypto txs be worth it if they're all taxed?

>>30078694
with avg return ~$500, I'm paying 24% short term cap gains, so still worth it if I can do this 3 or 4 times per week.

>>30078694

If you're swinging back from fiat to coin and vice versa, each time you come back to fiat it would be a taxable event. Meaning you would in cure the short term capital gains or whatever.

Which yes, sucks. But thats still like ~65%-75% of the money you made swinging, which is more than 0% you made from not doing anything.

With that said if holding is your preferred method that works too. Just feel like /biz has this weird notion that IRS will literally take all your gains, when in reality it's just the 30ish %, especially if you're doing what OP was describing

>>30078980

incur* I'm a fucking brainlet

>>30078505
>selling GRT
ngmi

>>30078980
Crypto to crypto is a taxable event top you boomer.

dude, I checked your ID, don’t play this game
If you want to shill shit go to other threads
>REMEMBER: We are not dumbs
My niggas hold juld and 300% just for this year

>>30079314

>op literally describes buying crypto with fiat to swing it later for 10% gain

I'm sorry did you not read you fucking faggot?

Also as an aside, fuck you.

Also: kys

>>30078980
Doesnt matter if you exchange for fiat or not. If you buy another coin or even if you buy a cup of coffee they take your gains at the difference in value of the coin between first and second transaction.

>>30078199
I want to do this but I only got 1k to invest, possible?

>>30079314
Good luck trying to audit that shit

>>30078199
oh man, you are goddamn retarded anon lol

>>30078955
If I’m a student and have no income on paper and I am just investing my savings from past job, do I have to pay capital gains? I’ve made far less than 40k profit. Plus who keeps track of you me trades? Is your exchange going to rat you out? I use cuckbase so if the exchange actually helps IRS and if any exchange would it would be them, that would be quite gay. I’m just thinking I don’t have to pay tax though because I don’t think capital gains apply to my bracket right now.

>>30078199
I do the same fren, I doubled my portfolio in a month just doing this lol

>>30079823
Coinbase will rat you out to IRS. They require KYC.

>>30078199
Up to specific amount. What you want to do is both swing and hold.
Always have 1 coin you deposit only into. This is your hold coin. After 6 months of deposit, no touchy. Coin now becomes a 1 year hold coin for 0% long term gain.
After you switched your 6 month deposit to a 1 year hold you assign another coin to 6 months of deposits and then hold again for 1 year.
All other coins you can swing away on.
First 2 years you will have to suffer as no-touchy, but after that, you wait for spike and then pull out tax free $. 6 months allow for twice a year to sell so if one is up but other is down, etc.. Cycle back into more coins or invest in something else.

>>30079589
it should in theory. will just take you longer to make $. I started doing it for fun and to see if it would work. Also, the $5K I started with was money I was willing to lose. Remember to only do this with money you can part with.

>>30079766
post gains faggot boy

>>30078264
Yea, but what about durring bear markets, like maybe in a year or so when we don’t have all these runs, then would this strategy be of more use. Also I agree as you can pretty much put money in any decent alt-coin right now and see some pretty easy gains if you hold.

>>30079895
Good advice. I will start doing this.

>>30079314
>He cares about taxes on crypto
The IRS has no operating budget to speak of no one is going to audit anyone anymore nigger

>>30079314
>>30079651
This. I don't think they would even bother unless you're eventually cashing out 6-7 figures. No way could they track all that shit. They'd only go after whales and even then I'd figure the whales are smart enough to avoid it.

If they eventually did start auditing all crypto-crypto transactions then everyone would just adapt to crypto-monero-crypto exchanges. Monero would have the most volume by far lol.

>>30078629
Thats a good one. I think it's about to pump again

>>30079535

> buy 100 buttcoin for @ 1 dollar each
> sell 100 buttcoin @1.10 dollar each
> I have made a profit of 10 dollars
> capital gains on that, like 3 bucks.
> set 3 bucks aside before i swing into more bullshit
> I now have 107 dollars to swing with

Oh god this is so difficult...they took all muh gainz

>>30080120
>the tranny faggots and nigger diversity hirers in the IRS are going to come after you.

>>30080162
Based take

I do the opposite, I look out for pumped shitcoins and short them.

>>30079895
>Up to specific amount.
What amount would that be?

>>30082560
Short term gains tax change
Filing Status 10% 12% 22%
Single Up to $9,875 $9,876 to $40,125 $40,126 to $85,525
If you mix it with long term capital tax up to $40k at 0% you can minimize your losses to taxes

>>30079823
>>30079880
just transfer to binance and wait 3 months. CZ would never snitch

>>30082919
Fucking brilliant!

>>30078980
Crypto to crypto is still a capital gains event you fucking idiot.

>>30083353
Basically instead of $60k at 22%, you pay $30k at 12%, $30k at 0%.
So 6%, Thats why I like coins like LTC. It was crawling at $50ish for so long, then BOOM, now it was ready to sell and at 0%.

short-term capital gains (STCG) and long-term capital gains (LTCG) are put into four different buckets. STCG losses/gains, and LTCG losses/gains. you don't need to pay tax for every single transaction - all you need to do ist total up the STCG and LTCG for the year, and pay tax/write off losses on the difference. you can roll over up to 3k in LTCG losses into the next year, too.

>t. accountantfag

>>30084304
i would also like to add that i'm not paying fucking taxes on crypto gains. fuck uncle sam i'm not paying for niggers, foreign aid, foreign wars, or for the salaries of officials i didn't elect to represent me. i also actively help others to avoid taxes. fuck taxes.

>>30079895
I'm a brainlet and this doesn't make sense. Could you explain further?

>>30085376
See
>>30082919
>>30083693

>>30078199
Name?

>>30078199
It works until it doesn't and you're sitting at -20% wondering if you should sell and take the loss so you can keep swinging, or hold for potentially months or years for the price to keep going back up. And if you think setting stop-losses will help then prepare to get fucked repeatedly.

>>30078980
The capital gains tax is not 65%, you absolute moron. Short term capital gains is simply taxed as regular income. Imagine pretending to know things on the internet.

>>30079314
>>30079535
>>30083363
Good think I can buy physical silver with crypto and sell it to boomers on Craigslist. Capital gains is for retards

>>30078955
cope

>>30079895
Long-term capital gains tax is not 0%. Some of you in here are the dumbest people I've ever seen. It's incredible how stupid you guys all are about taxes. This board is inundated with a bunch of 15-year-olds.

>>30080241
You don't even have to set the $3 aside because if you lose money on your next trade it is simply deducted from your capital gain. The only sticky situation you could get into would be having to sell some at the end of the year in order to cover the taxes on your profits.

>>30083693
That's only if you have no other income. If you make six figures at your job already, there is no avoiding it. Your strategy is for neets only

Hello fellas, wazzap here?

>Did you see that spam attack on /biz/ today?
These poor pajeets really trust that smart trader will check their trash
Funny lmao
>I never risk today, my assets are on yield farming on yvs finance and I can reinvest any time

>>30086371
>Long-term capital gains tax is not 0%
Says for single filer for 2020, there's a 0% marginal tax rate up to $39,375 for LTCG assuming no other income. So if I made $30k in taxable income, I could withdraw another $10k in long-term gains and be taxed at 0% on them. Anon you were replying to made it seem like I could withdraw $40k in untaxed long term gains on top of an $80k taxed salary though.
https://www.thebalance.com/how-to-use-the-zero-percent-tax-rate-on-capital-gains-2388995

>>30078199
Yes, except every now and then that "dip" becomes a really massive correction (like we saw recently, or in January when BTC dropped from 42k to 30k), so you can get fucked.
Tips to avoid that:
Ladder your buys and sells and keep part of your pool in reserve to buy the bigger corrections.
>>30078264
It's true that 90% of traders lose and studies showed BTC hodlers ended up with more gains than traders who tried to time the market, but some of us are capable of winning. I have +50% on my trading portfolio in just 2 months, which isn't the greatest, but pretty fucking good from an income source perspective.

>>30086291
Wait. That's brilliant. QRD?

>>30079895
Alternatively, to take profits into a long term hold without sacrificing long term cap rates by fucking your whole stack up via FIFO rule, you can take profits into and swing a synthetic version of your long-term asset. That's what I do with wbtc. A very simplified example... If I swung only 10 percent of my btc holdings at a time and do this 10 times in a year, fifo fucks my long term cap gain rate up on my btc stack and I'll have to wait another year before selling it for lt cap gain rate. With a synthetic version, I take what I want to swing from my long term, in this case 10 percent of my btc, swap it for wbtc, and can swing that stack as much as I want and my original btc stack is still only subject to long term cap gains rate.

>>30079967
In a bear market go all in on BTC. Last bear cycle it went as low as 3,000.