/biz/ - Business & Finance

You know that you get taxed on every crypto transaction you make right?

You might not get the tax bill today or tomorrow but it will come rest assured

>>7060120
>You have to tax your income.
What a novel concept. Got any more wisdom to share?

>>7060120
only if you are fuckin burger

>>7060120
Only if you live in an hamburger eating county. OP is gonna make it

>>7060120
>You know that you get taxed on every crypto transaction you make right?
not everyone is from the retarded ass US you know that, right?

>>7060120
>muh land or the free

>>7060161
rekt

>>7060195
No you fucking piece of shit, you have to pay crypto to crypto gains in almost every country

>>7060253
live in Asia, no such thing

>>7060253
Wrong!

>>7060120
Why the fuck are you assuming he is a burger?

>>7060120
So what, just think about it, they can only tax you on profit, and it doesn't accumulate.

The point being, even if you make a million you will still be left with 55% at worst.

>>7060276
>>7060277
OK! At least i know that counts for fucking cuck countries like deutschland and österreich

>>7060195
being American is suffering

>>7060089
Can you share what TA are you using to enter good trades?

>>7060195
I'm pretty sure all countries will want taxes on coin to coin.. it's just that they're still figuring it out

I just don't see how one can make any fucking money.. buy shitcoin with BTC, sell shitcoin for BTC profit -30% in current Fiat value, cash out to Fiat -30% again. What's the point of even doing small trades

>>7060297
how would the government in Austria or Germany ever know you made some shitcoin trades?

>>7060120
>Excel sheet + FIFO
Broblem solved.

>>7060409
Have you ever heard of a term called cashing out?

>>7060120
im so fucking sick of you cunts on this board. only 12 months ago this was the best board on 4chan now its full of total pussies, pajeets and cucks.

>>7060318
I don't do anything special. I just use the most common indicators (RSI, MACD, BB) and moving averages and short once things go too high or go long in a dip. Pic related is my setup. I often set up timed trades in advance in case things temporarily spike up or down.

>>7060409
Because you have to hand in a tax report. Germanfag here, we don't get taxed per trade, but you have to pay income taxes on the difference between what you paid in and gained by the end of the year. I'll just print out a list of all my trades and pay whatever I need to, I don't really give a shit. Still better than being a wagecuck.

>>7060253
nope

>>7060089
Goodluck reporting all those trades on your taxes, assuming you don't live in a shithole country.

>>7060531
it's piss fucking easy

>>7060253
even when it's the case, not every single trade is a taxable event except for burgerland

>>7060120
>You know that you get taxed on every crypto transaction you make right?

oh no.....

>send 10 ETH to binance
>make 1000 trades
>you now have 100 ETH, but the tax is fucking high due to the number of trades
>download trading history excel file from binance
>delete most of the list
>make it look like you went all-in on tron or something, and took profit at 10x

so hard, wow.

>>7060579
what?

>>7060531

>Goodluck reporting all those trades on your taxes

Sir, the IRS here lets see, in the past year you have sold 3 old iphones, a kids bike and a used dragon dildo on Craigslist. You owe the state an amount of $.

Yes you are this retarded.

>>7060631
what the fuck is the point of that?

>>7060089
Is it really that easy? I am on Bitmex right now, fucking crashing my head on 1min-3min candles, and it is so stupid.

>>7060631
i don't even know where to start with you my senpai
i guess pic is relevant

>>7060414
Except most countries enforce you to LIFO.

>>7060647
only in burgerland every trade is a taxable event

>>7060524
I'm an eurofag, my country has no strict crypto laws, nobody knows how to tax them yet, so doing it is a huge risk
Tell me, do you have to pay taxes if you only trade alts for btc and btc for alts without actually selling btc for Euro? In other words, do you only pay taxes when you ACTULLY cash our for real money?
E.g. You buy 1 btc in 2017, you make 5 btc out of that and sell 1 btc for fiat. Do you pay taxes only for that one BTC, or is your "profit" in BTC gains somehow taxable?
I'm a tax retard, pls no bulli. Explain it to me, because I might want to move to germany for 1 year (because if you HODL BTC for 1 year in Germany... I forgot, enlighten me) just to cash out my crypto someday

>>7060691
incorrect senpai

>>7060120
>come to brazil m8 you only get taxed if you make R$35,000+ per month which im guessing you dont

>>7060657
>>7060667

IF YOU DON'T UNDERSTAND THE POINT OF DOING THAT IN THE US THEN YOU SHOULD HIRE SOMEONE TO DO YOUR TAXES. AND KYS.

>>7060579
In Germany as well. In the UK as well. Don't know about other countries, but I assume there are many that do it like this. Just because you don't know or care about it doesn't mean that the tax jew doesn't tax it.

>>7060253
Fucking burgers think USA is the whole world. Havnt only like 20% of you mongs got passports.

Britbong here. We and a
the rest of Europe do not share your retarded crypto to crypto tax.

>>7060745
I have someone to do my taxes, the CGT is on net capital gain, it doesn't matter if you made 1 trade or 1 million to get from 10 to 100, you are taxed on the 90 ETH profit, all deleting shit does for you is take away your ability to claim the fees

>>7060661
Stop it, bro. I did the same fucking shit. You're constantly stressed out, while you're chasing fucking 1% gains and even on "safe" entrys random market swings will fuck you up constantly. Just think about it, if you had bought the dip a week ago and sold now you would have made 35% and the next dip is right around the corner. Can you match that with your mini trades? And even if, is it worth the difference in effort.
>>7060709
I don't know how it is in your country, but here you have to pay taxes on all your gains, the only way to avoid it is to buy a coin and hold it for 1 year, after that it's tax free but I think that's only works in Germany.

>>7060810
Fucking wrong.

>>7060856
This.

>>7060524
Yes you do get taxed on trade to trade.

>>7060524
>>7060661
trading ETH on those time intervals is nearly always comfy. as long as you only buy the dip, selling for a nice % increase is trivial. at worse need to wait for a few days.
I got semi just'd on one trade in december but just bought more to lower the average.
waited 5 days for that bag to break even.

>>7060089
What % did you gain on an average day? You know you can also do both things?

>>7060524
Yes, but thats only IF YOU CASH OUT.

And also only if you cash out big amounts (like over 10k EUR).

If you just keep trading and holding, nobody knows. Why would you report it?

>>7060524
Thanks, /TA/ bro.

>live in a third world shithole
>divide my stack over few exchanges
>buy dumps and sell recoveries on minor profit margins constantly
>make a days worth of wage in 2 mins
>no tax
>not planing on cashing out anyway

>>7060957
tax free after 12 months in germany

brits have to pay taxes on trades?even if its below £11k CGT annual limit? if so, i assume we can use our losses on trades to lower our gains on other ones right?

>>7060850
gains - as in coin gains? That's what I don't get.
is multiplying your BTC stack considered a taxable gain? Or did you just say, that you pay taxes for what you actually sell for FIAT? And the BTC gains you made are not taxed, becasue you didn't cash them out yet?
Pls explain, no troll here

>>7061041
not below thresholds, losses lower gains, you are taxed on NET GAIN

>>7060957
I'm a Student and I can make 17k per year tax free, I'd be dumb no to report it yearly. Also I really don't see it as a big issue. Sure, it would be nice to not have to pay taxes but in the long run that would just end in trading platforms getting banned or some shit and we certainly don't want that. It's literally free money, just pay your taxes and deal with it. You'd have to pay taxes for every other kind of job too.

>>7060524
Deutsche anon, can you explain how you use RSI?

>>7061095
i think you're going to make it anon

>>7061123
>>7060524
show us your ways, wise one
here's a rere pepe

>>7061093
cheers, good thing im a poorfag who has yet to gain £11 in a year

>>7061062
Okay, real easy. Let's say you pay in 1000€ today and by the end of the year you have made hold cryptos/FIAT with a worth of 10k€ then you have to pay taxes on 9k€ income. It doesn't matter how you got there. You could even be at 1 Billion € before then end of the year and drop back to 1100€ and then you only have to pay taxes on 100€. And yes, that means that you could be forced to cash out some money in order to pay if you only hold cryptos.

>>7060455
is this some nocoiner slang?

>>7061062
Spaniard here. No tax laws at all yet but I have insider info. They only going to tax FIAT when you cash out. They can't know which coin and how many you bought. They can only know how much you paid and how much you cashed out.
>Pay 1000€ for 10 ETH a year ago
>Cash out 1000€ by selling 1 ETH a year later
>No tax to pay

I hope they do the same for you, anon.
Source: Executive from a national bank.

>>7060253
no you don't. your land of the free is the only true shithole on this planet. enjoy.

>>7061178
*£11k lol

>>7061123
>>7061150
RSI is easy as fuck. It's literally brainlet tier. RSI stands for relative strenght index and it finds overbought and oversold conditions. The RSI ranges from 0-100. If it is under 30 you are in an oversold condition, meaning people are selling cheaper than they should, if it's above 70 it's the other way around and people are buying higher than they should.

Easy rule, buy when the RSI is sub 30 or above 70 (25 and 75 if you want to be really safe). It's one of the most common indicators and therefore a self-fulfilling prophecy in itself if everybody buys a drop below 30 there will be a spike, easy as that.

>>7061180
thank you, this was the definite answer I was looking for for a long time, you've made it all clear to me now, anon
you're doing god's work

https://rsihunter.com/
fellow anons, use this website for RSI- thank me later
I want us all to make it

>>7061278
Here, an example. This is the ETH dip from last week on an 1 hour chart. In the lowest point the RSI hit 25 and it's been only going up since. It's not complicated.

On the other end of things we are still at an RSI of ~60 right now, despite already going down from yesterday, so if things go up back to the 70 range it's a good time to sell and wait for the next dip.

>>7061398
Holy shit, nice find.

>>7060120
>muh freedoms

>>7061196
it's unregulated here as well, Po(o)rland has no clue how to tax it yet, so so far this would be an acceptable solution
the thing is, polish taxman is a cunt that will complicate everything as much as possible to the point of a total clusterfuck just for the sake of it.
If they regulate it, I suppose they will pass a law that will be america-tier retarded

>>7061398
Is there any way to sort for platforms?

BZC's platform is finished, it's like one of the only 20 crypto's that has a finished platform.
Go buy your "We promise it'll be done by 2025" coin.

>>7061472
in the future they will, if u look at top of screen it says its still in beta

>>7060089
Nice larp, mate !

>>7061062
Crypto to crypto trades are taxable in the UK. You are still selling an asset.

Also, depending on the amount of trades you are doing, they may look upon you as a professional trader. In which case, that comes under income tax.

Mining comes under self employed status. I would imagine if you also stake proof of stake tokens then that also comes under mining. So you have to pay the same 20% tax everybody has to pay, plus you also pay Class 4 which is 9% on profits between £8,164 and £45,000. So your being hit with 29% tax.

Thats assuming your honest. Can't see how hmrc would have the resources to check up on crypto traders. Also if privacy coins and decentralized exchanges like kyber are involved, how could they know?

I'll probably be a cuck and just pay up for peace of mind.

>>7061548
fucking reddit faggot gtfo

>>7061567
Here's the thing, people taxing taxes is probably the only thing that will prevent us from getting dicked by regulations. If states end up making money due to crypots, and realize the potential for growth in the future they will be less inclined to shut it down. If they think magic internet money is a way to escape taxes they'll fuck it up in the next year or two. I know it's a spergy as fuck thing to say, but in a way we cryptofags are a community, and paying taxes is in our interest.

>>7060731
>Only get taxed if you make more than $5 USD

No thanks huehue I'll pass on the favelas too

>>7061278
Why would you want to buy if people are buying higher than they should?

>>7061794
normies? people who don't know what RSI is?

>>7061693
Good point.

For the crypto to crypto trades, do we need to check historic exchange rates from the day of the trade to determine the GBP gain? Or is there a simpler way to do it?

>>7061794
Oh, sorry. it's supposed to be
>Easy rule, buy when the RSI is sub 30 and sell above 70...
I did an allnighter to finish a paper and my concentration isn't the best.

Any additional questions about RSI or other indicators?

>>7061845
>>Easy rule, buy when the RSI is sub 30 and sell above 70
Kek, okay that makes a lot more sense, yes.

>>7060524
What are you using to get that interface for Kraken? I'm trading on Kraken and it's aids, the volume sometimes overlaps the candles

>>7061836
Dunno about britbong laws, mate here it all comes down to what you have in the end and the individual trades don't really matter. You only have to keep track of them to prove how you got from X to Y.

>>7060810
maybe not, but active trading (no matter if it is crypto, forex, gold or your sisters panties) is still taxed as income in most of the world

>>7060524
>I just use the most common indicators (RSI, MACD, BB) and moving averages and short once things go too high or go long in a dip
I do the same "daytrading" and I fucking get rekt half the time

>>7061693
this
look to minimize your taxes, not evade them
remember you only pay taxes if you make gains
if governments fuck everything up nobody will have to pay taxes because there are no gains to be made

>>7060253
>>7060297
>>7060455
>>7060856
>>7060898

Look at this spastic

>>7061955
Go to the Kraken mainpage and then Trade -> New Order -> New Charting & Trading Tools

Then you set that shit up in a comfy way. I bought a 4:3 monitor specifically for it because I think the extra hight is very useful.
>>7061999
Follow my ways and switch to 4 hour charts. Just try it for a week or two. You have nothing to lose.

>>7062084
Thanks anon, may your gains be blessed.

>>7062081
He's just assmad because of the shit laws that were forced upon him. Can't really blame him.

>>7062084
so MACD lines converging means either an large uptrend or downtrend is about to happen?

>>7061398
>https://rsihunter.com/
Fuck man, this is great. Try cryptotracky.com, it's similar but tracks volume spikes.

Thank you anons in this thread, may your gains be high

>>7062200
Not really, it' can't really predict anything since it's a lagging indicator, but it does show you shifts in momentum. I don't really use the MACD alone, it's more to confirm other indicators.

Here's a good example. Empty bars mean that the momentum is growing, filled bars means it's slowing. 1 bar can often be a fluke, but 2 a pretty good indicator for a change in direction. In this case the 2 filled bars were a good indicator of when to exit the trade.

>>7062084
>4:3 monitor
>not using a 21:9 in vertical orientation

how do you even expect to be a successful trader

>>7062272
hey no prob, and cryptotracky is great also. I have only just discovered this rsihunter.com though, and am unsure as to what timeframe i should look at. At the top right i can select 5 min, 30 min, 1 hr, 4hr etc. I assume its just best to stick to the long term trends?

>>7060253
Kek, fuck no

>>7062358

>>7062425
I'm going to play around with it a bit today and see how it works out for some paper trades.

Planning to use the 1hr/4hr times to hunt for longterm trends, then look at the 5mins to watch for any dips that might be worth picking up for a quick flip.

>>7062542
good idea, i might do the same

>>7062525
:^)

>>7060253
THIS CAN'T BE HAPPENING
I'M IN CHARGE HERE

>>7062711
Truly the best board of all.

>>7060120
Haha fuck off you bootlicking cuck

>>7060524
How do you use the BB to trade?

>>7062803
When prices break the upper or lower band it's usually the first indicator that we are approaching a high or a low. It basically tells me when I need to start paying attention to the RSI. I know that there are many people who also trade bounces of the middle band, but I don't really like that because in my opinion it's not very safe.

>>7060089
Thank you based /biz/bro. Thanks for your tips, I have faith again that I and everyone on this board can truly make it

>>7062892
Cool thanks for the help. I've been slowly moving back in trades time wise, and so much more profitable. 1Hr and 4Hr are perfect for these strategies. Thanks again.

>>7060195
In France it's 67% on highest income bracket (€150k+), 3% of some extra tax and 15% of social contributions, iirc.

Fuck this country.

>>7062731
Burgers have so many freedoms they are even free to get taxed on every crypto to crypto trade.
muh' fredums.

Absolutely not surprised that a Burger is oblivious to the rest of the world. again.

What exchange do you trade on and which pairs are you generally trading?

>>7062936
We are all going to make it. Just be realistic with your goals. You don't need to chase the 100x deals. If you manage to catch one 10% swing per week and manage to keep that up for 2-3 years you're set for life.
>>7062937
Happy if I could help.

Position trading is really easy. That's where the money is. Day trading is for fun. I win every trade (10-20%). For example last week it was 6 trades like that. Wish i had a bigger stack to trade with. Reading the chart is really easy and all this indicators are not needed.

>>7062892


what settings do you put your MACD on?

>>7063136
>using MACD and 50 other indicators instead of just using volume and common sense

>>7063015
What does that mean anyway? If you buy a crypto with a crypto,what's the taxable amount?

>>7063089
thanks anon, overlaying rsi with my previous trades really showed I'm a fucking normy scum. I promise to make good use of your knowledge

>>7060253
Meanwhile in Russia our patriarch made a speech yesterday in parliament about bitcoin being bad and that govmt should protect its citizens from bad investments

I don't like where this is goin

>>7063108
i have money, can u hold my hand and I give u percentage?

>>7060253
>>7060253

>No you fucking piece of shit, you have to pay crypto to crypto gains in almost every country

feelgoodsman.jpg

>>7063136
I always use standard settings on these things, simply because indicators are better the more people use them.
>>7063216
Do whatever works for you, mate. No reason to be a faggot about these things. There isn't an objectively best method.

Honestly I'm 20, never had to pay taxes in my life. Can someone explain how exactly the government are going to be aware of each trade?

>>7063387
You need to report it yourself. If you cash out X amount of money onto your bank account you'll need to be able to explain how EXACTLY you got to that EXACT amount.

>>7063430
And how exactly are they going to verify each trade or enforce people to tell the truth

>>7063387
They are only going to be aware of your trades, if they request data from an exchange where you had went through KYC.

If you are trading on a DEX, they can't track that shit. You can just say you went all in on Confido and made a 10x or something like that.

>>7063011
What? 67% above 150k?
Holy shit are you kidding? I'm French and not aware at all of taxes for rich people... I need to get informed

>>7063269
Same in France. Macron hired a "Mr. BITCOIN", guess his age? 71 yo.
Guess his background?
"From 2006 to 2011, he was Second Deputy Governor of the Banque de France, a member of the Board of Directors of the Bank for International Settlements (BIS) and a member of the Financial Stability Forum."
Crypto is dead in France my friendos. Stupid country desu

>>7063490
It's totaling 85% of your crypto gains that they put in their pockets for doing nothing.

>>7063490
Our only hope is if we get the "flat tax" for cryptos.

>>7063459
the numbers wont add up if you lie, you idiot.
they have calculators you know.
this is the reason you can download your transaction history on exchanges.

>>7060524
Don't teach these fucking pajeets they don't deserve it.
They will fuck up anyway kek

anyone know the laws in Poland??

>>7060089
trying to do this, but I cannot avoid taking a peek at the 5m chart just before buying or selling. it drives me nuts

>>7061196
Hey I'd like to ask you (as a Spaniard) more questions.

What are the policies that banks have/will have with crypto? Will they invest in any way? Will they adopt some form of blockchain (if yes, one of the already used)?

>buy low
>it never gets back up again

>sell high
>it moons the next day

>>7063684
It's your brain that's freaking out. It tells you that you need to make gains NOW and to make gains NOW you need to act NOW. It's really retarded though, because that's not how this whole thing works. You can't force good trades, actually you are even more likely to fuck something up. Say you want to buy a dip and instead of just doing it when the price is nice and low you try to go turbo autist and try to hit the exact bottom, and then what happens? It bounces and you missed out on more % than you could have gained by hitting the bottom.

You need to condition your brain to think opportunistic and to think in the grand scheme. Best way to do this is just to force yourself to not look at those small charts. Give up some control and have a positive mindset. You'll make it. Cryptos has a long way to go and you are already in. Only one way from here.

>>7061876
What do you sell into, btc, tether?

>>7063297
Sure. It wont take long to learn. I can also show you the best market scanner so you dont even have to look for potential trades. Email me at thefinnishflash111 @gmail.com

>>7063869
>the best market scanner
I'm also curious about this one.

>>7063869
What's this magical market scanner you have, anon?

>>7063543
I'm not cashing out in this country.

Does anybody in Dominican Republic knows how crypto are seen by the law there? I have a turf there.

OP, I'm German as well and I am 100% sure that every single trade is a taxable event for us. I've read it in forums (CoinForum), I've heard it in Youtube videos explaining the taxes, read it on various websites and even asked my accountant who told me that, indeed, every crypto/crypto trade is a taxable event. I'm confused now. Are you saying everyone but you is wrong?

please dont let this thread die.

>>7064375
But what does that mean? You would need to Calculate each positions tax? Seems like ultimatly it just comes down to total profit vs loss, not individually

>>7060089
>grandpa trading: the post
Enjoy those 8% gains while I double my stack grandpa

>>7064500
You buy BTC for 1000€, you sell for ETH a minute later and in the meantime BTC has gone up, so that your 1000€ is worth 1001€. You're taxed on the 1€. You sell ETH for a shitcoin. You're taxed on the difference between buying ETH and selling ETH again. Now the problem is that exchanges don't track fiat values. So yes, you actually have to calculate the fiat value your coin WOULD HAVE HAD at the time. And if you sold it for more imaginary money than you bought it for, you pay real money as taxes.

Of course it's fucking stupid, but it is the law. This is exactly why so many Americans got angry when they got this law as well. Because it's impratical, impossible and flat out unnecessary. In the end it comes down to 'how much gains did I have this year?', but the basis for that calculation lies within the hundreds if not thousands of trades you now need to know the theoretical fiat values for. There are tools that do this for you, but if you have many trades they are not free.

And, again, yes, it's fucking stupid. I'm not payed by the tax jews. I'm angry that shit like this exists and it almost single-handedly kept me away from crypto.

>>7060120
>the jews just can't stop lying

>>7064655
>This is exactly why so many Americans got angry when they got this law as well.
You got angry because one of your jewish media masters and their clickshekel blogs told their obedient golems to get angry. About something they made the fuck up. There has been no no "crypto law" that sparked this endless stream of kike lies. And yet here you are...

>>7064500
>>7064655
To clarify - yes, the end result is the total profit vs loss. The problem lies within the fact that you're obligated to keep a full history of all your trades. If (and this will most likely never happen if you don't cash out more than 100k or so) they audit you, then it's NOT their job to find out where the money comes from. It's your job to have a transparent and complete history of everything you did that led to the money you cashed out. And if you can't provide that you're commiting tax fraud. So either keep a full track record or not get audited. You probably never will, but if you suddenly want to cash out millions in the future you're basically fucked. Then you really can't cash out anymore.

>>7064375
Cryptotrading gillt als als ein privates Veräußerungsgeschäft nach § 23 EStG und der besagt:

>Die Verluste mindern jedoch nach Maßgabe des § 10d die Einkünfte, die der Steuerpflichtige in dem unmittelbar vorangegangenen Veranlagungszeitraum oder in den folgenden Veranlagungszeiträumen aus privaten Veräußerungsgeschäften nach Absatz 1 erzielt hat oder erzielt;

Klartext: nur die Differenz zwischen Gewinn und Verlust die am Ende bleibt ist interessant.

>>7060089
SAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGESAGE

Guys did it ever occur to you that 30% every trade is just as much as 30% on all your profits right? Dumbmongoscum. In many cases you can deduct for losses and even get away cheaper.

Nibbas talk like your taxing 200%+ of your income because you tax multiple times.

YOU MOTHERFUCKERS NEED TO TRADE SMART. THIS IS NOW A RESOURCES/TRADING TOOLS THREAD:

Web Radars:
https://rsihunter.com
https://www.cryptotracky.com
https://qft.hodloo.com/
https://cryptobasescanner.com

Telegram Bots:
@WallMonitor (Sends notifications whenever buy/sell walls get placed on exchanges on a 25% radius)
@CoinSniper (Finds the most oversold and overbought cryptocurrencies)
@WhaleSniper (Sends notifications whenever unusual amount of selling/buying activity is spotted across exchanges)
@trexMarketScan (Bittrex Market Scanner based on RSI and Relative volume. Scanning 5min candles for quick trades)

Leaks:
@ConfidentialMatrix (Palm Beach leaks)
@ClifHighLeaks
@AltucherLeaks
@CryptoCueLeaks
@CryptosMagazineLeaks
@SharkCIALeaks

TA Analysis:
@CryptoCharters
@GetGoodTA (dude even gives free portfolio advice)

News & Commentary:
@Blockchainfarm
@CryptoCATALYST
@@VerifiedCryptoNews
@BitcoinBravado
@Blockion

>>7060120
if you make tens and thousand of dollars for sitting on your ass and you want to go legitimate... and you're too lazy to hire a tax lawyer or do them yourself...

YOU ARE NOT SUPPOSED TO MAKE IT...

>pic related

>>7064756
Sorry, aber das ist einfach falsch. Das Zitat stimmt natürlich - Crypto ist als privates Veräußerungsgeschäft einzutragen und unter einem Jahr mit dem persönlichen Steuersatz abzurechnen. Darüber steuerfrei. Deine Schlussfolgerung stimmt aber einfach nicht. Ich will jetzt auch gar nicht diskutieren, denn das Thema wurde schon tausende Male durchgekaut. Bei uns ist jeder Trade ein steuerpflichtiges Ereignis. Mach dich einfach mal im Internet schlau, denn dieser Irrtum ist extrem weit verbreitet. Das Finanzamt sagt nichts, weil du die Trades alle mitschickst, und das ist auch richtig so. Du kannst aber nicht einfach sagen "ich hab x investiert und y rausbekommen, also zahle ich y-x" und erwarten, dass das FA damit zufrieden ist. Diese History der Trades ist zwingend notwendig.

>>7064707
seriously. no one at the IRS is going to pour over thousands of trades per person over the year, and as if the exchanges like binance are going to send information over
you dont even have to be confirmed on binance to do anything so you they have no idea who you are

all that matters is
>buys on coinbase
>cashing out on coinbase

for everything else there's "i mined it" or "i made these 3 trades and held all year"

you people are being so fucking retarded, there's no hope. just pull out of crypto and go back to school

this is like seriously thinking that the IRS is going to fucking come after you and confirm your mileage driven for the year.

>>7064856
are all those @'s on telegram?

>>7064982
Yes.

>>7060089

The cycle of a new trader

"Wow daytrading is so fun and amazing"

"wtf day trading is retarded tiny ass gains for a lot of time"

"swing trading is amazing! more profits for a fraction of the time to research / watch screens"

"wtf swing trading is shit compared with buying and holding buffet style"

this is when you reach your max wealth growth and maturity

this is when you know that long term investing and long term speculation is the only way for the true man

>>7064856

and u totally delivered bruv

>>7065010
sick. thanks

>>7064856
Please feel free to tip me if this helps you trade better :-)

BTC:
1Kc9hzBV8zWFhCyzAPy9KUrrGCRP6op7LQ

ETH:
0xe394f578Dc15f843c164F48528B79Ff1224B08ca

>>7065015
When you have a lot a starting capital I agree it's better to buy and hold, but when you start with less than 5K$ swing trading is best if you want to be rich before you die

>>7065015

I agree to an extent

Strong coins should be locked away and forgotten about.

But having 20% available to swing trade with can be a good way to earn more money.

>>7064885
>Du kannst aber nicht einfach sagen "ich hab x investiert und y rausbekommen, also zahle ich y-x" und erwarten, dass das FA damit zufrieden ist. Diese History der Trades ist zwingend notwendig.

Das ist mir schon klar, es geht mir nur darum, dass du deine Verluste gegenrechnen kannst. Wenn man sagt, dass jeder Trade zu besteuern ist klingt es so als ob man die Steuern dafür so oder so zahlen muss, egal ob man danach Minus macht oder nicht.

The reason the IRS will want to see every crypto trade isn't so that they can look at each one and tax it whatever percent.

It's so that they can see that you don't launder money.

>>7065132

Oh for sure

and to be honest trading is fun as fuck sometimes

>>7065122

very true. It's how many people start

going through the whole struggling with day trade/ swing trade opportunities is a great way to be introduced to the concept of growing wealth

even if the basic thought of "wow I could be using this $200 in my brokers account instead of spunking it on this night out" is something really powerful and will help you in the long run.

>>7065015
this isn't true unless you are starting with a lot of money. you will not make millions of dollars putting 5K into Ethereum and holding for a year. you can actually make millions if you first turn that 5K into 25K, and then turn that 25K into 50K, etc. until you have like 200K. then you can park it in the top coins and hodl. you have to be more risky and more aggressive in the beginning though or you will not make it.

OP was not a faggot today. thanks for the knowledge anons in this thread. I hope you all achieve freedom

If you find an opportunity, how much do you generally enter with? Do you keep the rest in fiat or do you go from crypto to crypto?

>>7064856
Fucking love you anon

>>7060120

>>7060731
Eu posso então mandar 35k por vez sem ser taxado? Independente se o valor final for, por exemplo, 100k?

>>7063015
>Absolutely not surprised that a Burger is oblivious to the rest of the world. again.

We don’t have to pay attention to the rest of the world. They’re already busy paying attention to us. We are the best. That’s why half of us don’t know shit about the europoor. We don’t need to.

>>7065082
Thx man.
Gonna send you some, when I make it
> $7k anon

>>7065724
>They’re already busy paying attention to us.
'They really believe that Europeans are eagerly waiting to hear from them and follow their advice. They took our strategic decision not to discuss their shallow culture before the war as a sign of admiration.'

>>7063305
yes, it literally says active trading IS TAXED
can you not read?

>>7060253
Estonia here, nope
Go fuck yourself, yes

>>7060754
In the UK you get an annual allowance of £11.3k which you can cash out without paying taxes and above that it is 12 or 18% tax paid depending on your income.

>>7066124
do you use a company to trade for that 0% tax on retained earnings?

>>7066146
Nope, I cash out on drugs, more profitable

>>7060120
>implying i live in a country that has capital gains taxes
How retarded do you think I am.

>>7066422
Smartest thing anyone has said in this thread

Can this be done with BTC/alts or just trading with fiat?

what if I have never paid taxes before in my life

>>7060120
you are making generalizations, each country has its own tax laws for each different asset group. most countries tax cryptos as if they were stocks or forex wins. some countries tax stocks and forex differentially too.

>>7060089
daytrading crpyto you are fighting slippage and spread so sure it gets easier longer timeframes at least backtest your strategy, it can show if you are not running a profitable strategy but backtesting cannot verify your future gains even if show positive.

An informative thread that doesn't suck ass on /biz/? Wow, this is the first time I've seen one.

I continued this thread here.

>>7066869
Very impressed with some of the contributions in this thread

>>7061196
>No tax laws at all yet but I have insider info.
Spaniard here, so the 24% tax on 50K+ is bullshit? Any dates you're willing to share?
Santander, Bankia, Sabadell...?

>>7060253
>this is what burgers tell themselves to feel better about their retarded government

>>7061423
Crypto is one of the most volatile assets there i. Trying to apply boomer methematics will only lead being a poorfag. You should rather trust your guts and keep an eye on the news, as they affect the price way more than you tealeaf reading shit.

>>7061423
Afterwards you can always look and you will find it everywhere. But for trading its useless!

>>7065082
Pajeet selling his wicked TA and then trying to beg for some money. What a fag.

best thread on /biz/ right now, even if that's not that hard nowadays due to poos

>>7064853
It's 30% every trade and then tax again when you cash out

>>7068128
You are not me, you fucking faggot.

>>7064856
A-anon I

>>7060282
>they take 45% of my gains
>this is ok
>burninghouse.jpg