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Another day, another cryptocurrency fail

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Bud:

--- Quote from: pcprogrammer on August 10, 2022, 04:10:18 am ---A problem with gain on investments is when is it that you actually made money of it. When the tax authorities take samples of your assets at the end of the year, and the stock exchanges drop 30% the next day is it then fair that you have to pay tax on what you don't have any more? So then you would have to asses every sale on the stock market you make and pay tax on that,
--- End quote ---

There is Unrealized gain (the one before you sell) and Realized gain (when you sell). Double check your country's tax rules, i would be surprized if they tax Unrealized gain.


--- Quote ---but again what if you make a bad investment after it?.
--- End quote ---
Here we can offset your investment loss against the tax you owe so you pay less tax. But you have to have tax you owe, otherwise you can't claim a loss.

AndyBeez:

--- Quote from: thm_w on August 10, 2022, 10:45:55 pm ---Saying "investors have no influence" just because crypto markets fluctuate wildly is not a valid statement.

--- End quote ---
You're correct. Whales can rug pull a token's liquidity at the cost of the little guy's life savings. Like with Terra-Luna. So yes, select investors can and do influence market volatility, but only for their own personal gain.

james_s:
IMHO anyone who has their life savings in crypto, or any other single investment really then I think they are kind of an idiot.

Sal Ammoniac:

--- Quote from: SiliconWizard on August 02, 2022, 11:54:47 pm ---And yes, while I kinda like the decentralized idea
--- End quote ---

How much is a Bitcoin worth?

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