/biz/ - Business & Finance

>>2304760
>Why do alt coins go down if bitcoin goes up?
If people were creatures of logic this wouldn't happen. Altcoins are traded in BTC so whenever BTC goes up your altcoins also gain in value vs. fiat.

But people being the illogical wekahanded faggotprimates sell alts to "cash in" on BTC gains. And because many people do the altcoin prices drop which means if you want to maximise your profits you better sell, too.

It's like fucking Zebras. The herd could stand still an do nothing - no fucking lion would fuck with them. But because most Zebras are weakhanded horsefaggots they start running. And the rational Zebras who'd usually stand better run too, before they are left alone and eaten by lions.

I personally don't do the BTC-up-sell-ALT dance unless I wanted to sell the ALT anyway in the near future. Because even if the ALT drops in price - BTC rises and the value vs fiat stays roughly the same.

Selling ALTs on BTC gains is for greedy jews.

>>2128855
Yes. Tax residency. Wherever you are living there you need to pay taxes. (Well, except if you're US citizen. Then you need to pay taxes wherever you live AND additionally in the US).

If it's significant money we're talking about it would be wise to read up on the topic. State thugs don't like it when you "steal" from them (keep your property).

And because we're living in 1984 every fucking banking transaction is monitored so there's no sense in elaborate shuffling of money between bank accounts.

And exchanges are little cucks to the tax authorities and keep extensive records.

So if you have 1 million Euros in BTC you probably should pay tax unless you want to end up in a cage. (Or better: Get to some offshore tax haven and cash out there).