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/biz/ - Business & Finance

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28673353 No.28673353[DELETED]  [Reply] [Original]

Can someone explain the concept of "cashing out" to me?
If you cash out
>you have to pay taxes
>you dont receive staking rewards
>your 'asset' you are now holding is printed by a central authority, it is backed by nothing, there is no improvement made and it has no pumpamentals
>while it constantly gets inflated you dont receive interest on your money, so your purchasing power always goes down
>your funds can be frozen by the bagel eating bankers
There is literally no reason to hold any fiat besides grocery shopping.

>> No.28673440
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28673440

>>28673353
fiat is guaranteed not to drop 90% in 1 week
if it does, the holders will shoot the devs

>> No.28673461

can you stop posting sell signals

>> No.28673527

>>28673353
>fiat besides grocery shopping.
and u dont even need to cash out for that either now that u can get visa crypto card

>> No.28673586

>>28673527
That is true, i actually own a monolith card connected to non custodial eth wallet but havent used it so far.
Does it even make sense with current Ethereum gas fees? Are these cards even working right now?

>> No.28673639
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28673639

>>28673461
We are in an up only market, newfag.

>> No.28673724

If I buy a coin called AssFuck.Finance does the person doing my taxes have to fill in that I that I exchanged ETH for AssFuck.Finance?

>> No.28673774

>>28673586
Crypto.com

>> No.28673800

>>28673353
So you make fake money just to look at it?

>> No.28673806

>>28673353
What if you want to buy a house?

>> No.28673841

>>28673353
Bro my asian dentist said to me dont eat any bagels. Wtf...

>> No.28673905
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28673905

>>28673774
yeah okay, but that is custodial, not your keys not your coins.

>>28673800
lurk more newfag

>>28673806
pay it in linkies.

>> No.28673961
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28673961

>>28673841
that is antisemitic, you should report him to SPLC or ADL.

>> No.28674017

>>28673905
>Yeah I'd like to to buy a house
Great. how would you like to make your deposit?
>yeah well ya see i've got this thing called Chainlink.

ok.

>> No.28674070

>>28673353
Cashing out is a meme. At most you cash into a CRV 2.5x gauged pool.

>> No.28674116

>>28673353
true. That's why it's worth holding BOND instead of cashing out. who even wants fiat?

>> No.28674123

>>28674017
Thats called converting, not really cashing out

>> No.28674194

>>28673353
You can exchange fiat currencies for goods and services

>> No.28674337
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28674337

>>28674194
you can do the same with crypto currencies.
and you can earn passive income and send the sell pressure to 0. remove all coins from circulation by running a node. up only

>> No.28674338
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28674338

>>28673527
Soon you will be able to buy Caramel Macchiato with your XMR.

>> No.28674690
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28674690

>>28673353
Yep, never sell is the only way out

>> No.28675276

>>28673905
You are not obliged to keep all your stack in it

>> No.28675392

All of the sex workers and drug dealers I know have been on crypto longer than 80% of the people here. Literally nothing worth buying besides rent and groceries

>> No.28675411
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28675411

>>28675276

>> No.28675501

>>28673440
You're fucking delusional, dude