/biz/ - Business & Finance

>"Hey Asuka prophecy.....27 hours, 3 minutes and 35 seconds UNTIL YOU DIE!!!"

HEY BEARS 24 HOURS UNTIL YOU DIE

>>5116354
Buy LTC after BTC does it's 20-30K run

>>4982954
In the US, yes.

Each cryptocurrency is a commodity, and when you trade commodities in any way you are taking a taxable action.
Retards here will tell you can trade alt coins and shit as much as you want and only record when you cash to USD.
The truth is a lot of people here will likely go to jail if they get caught.

In the US you need to calculate every based on a first in, first out algorithm. Every single trade you make needs to be considered and translated into their USD value for tax reporting purposes.
When you fill out that "short term/long term" gains sheet for taxes? Every single trade is a new row.
Expect to be filing a gigantic sheet if you do even basic trading since the exchanges break down the trades into who you're trading with resulting in some tiny trades.

What retards here don't realize is that if they try to claim long term gains on crypto (or don't claim at all) while they bounce between alts, then they are literally committing a crime. And if there's one crime you don't want to commit, it's financial crimes when you're poor.

Only a few more days now

What are your predictions for...
>BTC
>BCC
>ETH
>LTC

Though ETH is swinging a lot more wildly, I'm surprised at how well ETH/LTC are holding up right now. If BCC doesn't kill crypto, I could see the two of them mooning pretty decently

Is August 1st the only deadline to worry about?

That's when the fork is happening, right?

>transfer a bunch of money into my GDAX
>waiting for crash
>very slow downward trickle
I'm so bored, how much longer until this crashes?
I can't even day trade in this climate since it's always going down and I don't have another exchange set up to short with

Why won't you die ETH?