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I am having the time of my life today. Cashed out at $320 and bought back in at the dip. Wheee! Hedge funds are shorting from dark pools (EDIT - the public d

I am having the time of my life today. Cashed out at $320 and bought back in at the dip. Wheee! Hedge funds are shorting from dark pools (EDIT - the public data was late, so it now seems unlikely it was a dark pool), and I am fucking excited to see what happens for the rest of the day and especially just before closing (and after hours).

Melting_Harps 6y ago
> Cashed out at $320 and bought back in at the dip. Wheee! I remember DFV posting about this at low double digits on WSB, but how is the tax liability on your side? This is why I prefer bitcoin, I can choose to stay and benefit from the appreciation without having to sell directly, whereas taxes on stocks was always a horrible proposition. My Charles Schwab brokerage account is more likely to get more activity from them adopting Bitcoin than any stocks, at this point if I'm honest.
- jljljl 6y ago
  How are taxes for Bitcoin any different? Like stocks, you’d still pay taxes on the gains from selling.
  - imtringued 6y ago
    Some people are crazy enough to get a loan against their Bitcoin. Unless you bank on your ability to pay the loan anyway this is an easy way to lose all your Bitcoin if you end up unemployed during a Bitcoin crash. Some companies require 300% backing in Bitcoin for each dollar you borrow and force you to liquidate at 110%. Paying capital gains is cheap compared to losing 66% of your Bitcoin.
    - jljljl 6y ago
      Wealthy people can do this with their stocks and other assets as well. Basically a mortgage but without the FHA
    - capableweb 6y ago
      > Some people are crazy enough to get a loan against their Bitcoin It's not that people are crazy (maybe in the US, but thinking of some countries in the EU now), but that the tax advantage of taking out a loan on your Bitcoin leads to you having to pay less taxes than if you just straight out sold them. Hence people walk that route sometimes.
- ex3ndr 6y ago
  Taxes on BTC are pretty much the same as Stock
- mrits 6y ago
  For the most part taxes on stocks are at least better than bitcoin. Roughly they are treated the same in the US though.
- nrmitchi 6y ago
  Are you suggesting that, somehow, Bitcoin is immune to having to pay tax on gains? Or are you suggesting that Bitcoin is great because you can hide your capital gains somehow and not pay tax?
dwaltrip 6y ago
Be careful you don't get caught up in nice sounding, unsubstantiated narratives propagated memetically on reddit.
- deleted 6y ago
  [deleted]
- Judgmentality 6y ago
  I know people hate this stuff on HN, but I still enjoy a good laugh. https://i.redd.it/tjouf0bctbj61.gif https://i.redd.it/tjouf0bctbj61.gif I genuinely appreciate the advice though. Cheers.

Melting_Harps 6y ago

> Cashed out at $320 and bought back in at the dip. Wheee! I remember DFV posting about this at low double digits on WSB, but how is the tax liability on your side? This is why I prefer bitcoin, I can choose to stay and benefit from the appreciation without having to sell directly, whereas taxes on stocks was always a horrible proposition. My Charles Schwab brokerage account is more likely to get more activity from them adopting Bitcoin than any stocks, at this point if I'm honest.

jljljl 6y ago
How are taxes for Bitcoin any different? Like stocks, you’d still pay taxes on the gains from selling.
- imtringued 6y ago
  Some people are crazy enough to get a loan against their Bitcoin. Unless you bank on your ability to pay the loan anyway this is an easy way to lose all your Bitcoin if you end up unemployed during a Bitcoin crash. Some companies require 300% backing in Bitcoin for each dollar you borrow and force you to liquidate at 110%. Paying capital gains is cheap compared to losing 66% of your Bitcoin.
  - jljljl 6y ago
    Wealthy people can do this with their stocks and other assets as well. Basically a mortgage but without the FHA
  - capableweb 6y ago
    > Some people are crazy enough to get a loan against their Bitcoin It's not that people are crazy (maybe in the US, but thinking of some countries in the EU now), but that the tax advantage of taking out a loan on your Bitcoin leads to you having to pay less taxes than if you just straight out sold them. Hence people walk that route sometimes.
ex3ndr 6y ago
Taxes on BTC are pretty much the same as Stock
mrits 6y ago
For the most part taxes on stocks are at least better than bitcoin. Roughly they are treated the same in the US though.
nrmitchi 6y ago
Are you suggesting that, somehow, Bitcoin is immune to having to pay tax on gains? Or are you suggesting that Bitcoin is great because you can hide your capital gains somehow and not pay tax?

dwaltrip 6y ago

Be careful you don't get caught up in nice sounding, unsubstantiated narratives propagated memetically on reddit.

deleted 6y ago
[deleted]
Judgmentality 6y ago
I know people hate this stuff on HN, but I still enjoy a good laugh. https://i.redd.it/tjouf0bctbj61.gif https://i.redd.it/tjouf0bctbj61.gif I genuinely appreciate the advice though. Cheers.