So if I transfer crypto to a Ledger wallet (for example), would the price still increase or decrease with the market? What’s the point?
So if I transfer crypto to a Ledger wallet (for example), would the price still increase or decrease with the market...
Austin Roberts
Camden Kelly
Nope.. its locked in at that price..
Kevin Edwards
That’s stupid. So I transfer it from the wallet to the exchange, it would change to the new price?
William Garcia
Absolutely! That's why I'm keeping my BTC from DEC 2017 on my ledger. don't want to move them to an exchange and lower their value
Nathan Nelson
The price lock has its pros and cons.
You need to keep in mind that if you let your crypto on a Ledger for too long, you risk missing important events like ERC council upgrades or downgrades (when you really need liquidity). Ledgers are really for normies who don't understand the inner workings of crypto.
Camden Reed
I would be careful, if you lose you key then you will only ever be able to sell it at the price you lock it in at.
Zachary Robinson
I have a question. Can you use the ledger to retrieve your BTC at an ATM? Will it be at market value or time when you stored it value
Jackson Watson
That depends on the tax you have to pay after the transfer
Carson Myers
I might be an idiot, but why wouldn't I get market value?
If I were to buy BTC at $5,000
and then market value goes to $100,000.
What would be the point of hodling? If I were to just get 500 back?
Isaac Robinson
It’s a purely altruistic endeavor. By holding a chunk of btc at 5000 you create a ‘step’ for the people after you to carry the price to 100,000
Anthony Rogers
newfag here, do crypto to wallet and wallet to crypto transactions get taxed?
Nathaniel Gray
Yes
James Ortiz
kek
Levi Gray
This is all a crock of shit. One BTC is worth 9.3k. You put that in your wallet and sell it when BTC is at 10k you get 10k.
End thread. Fuck off.
Matthew Walker
holy shit wtf seriously??? I am have bought many uniswap gems with my ethereym! I am freak out w
hat do
Jose Harris
Crypto is not taxed because it is not a capital gain and it is not an asset.
If you hold until you retire in a place with no income tax THEN cash out you will be able to keep your cash. Duh.
Hudson Clark
Ha ha, just remember you don't have to pay tax on a loss.
Best of luck figuring that out.
Landon Jones
what is a capital
Justin Phillips
Or loose your ledger full of monero in a tragic boating accident
Jack Walker
What is privacy coins and decentralized exchange
Owen Davis
you must be new. crypto to crypto is a taxable event in the majority of the world. Why do retards speak about things they don't understand? Use google retard
Andrew Hall
Big city
Gavin Turner
>imagine NOT locking your btc in Dec 17 @ $18,794.42
Who's as comfy as me, anons?
Lincoln Moore
LINK got downgraded to an ERC 10 and it STILL outperformed during a bear market. Goes to show that crypto always has surprises up its sleeve (also why I keep all funds on exchange)
Logan Jenkins
Not how it works retard
Benjamin James
Only if they find out. Unless you're selling 1k stacks at 100x, no one is going to notice if you transfer a few hundred bucks into your account.
Brandon Ward
OP it depends on seed type really. You can post it here, I’ll take a look (but delete it soon enough).
Ryder Carter
it’s a joke you fucking moron
Jason Mitchell
You like wasting peoples time faggot. You make crypto have a bad name. Go play with roadcones you dunce.
Andrew Martinez
>Only if they find out.
The issue is it's all on the blockchain. It will get found out, eventually. Potentially (definallty) with penalties. I don't know the regs in your country but you don't *generally* pay tax on small amounts. Some countries require transactions.
Easton Hernandez
Assuming US tax jurisdiction, moving same token from 1 wallet to another isn't taxable event, exchange for another triggers capital gain/loss unless you can claim it as a like-kind exchange (section 1031). DYOR. IRS and governments can see blockchain too and will have tools to track your unreported transactions.
Joseph Gonzalez
When the IRS shows up at my house in 20 years to shoot my dog, I'll already have cashed out my big stacks to buy a private army.
Christian Miller
If someone bought 1 btc at $100 in 2016 and held it in a ledger until today, then moved that 1 btc to a new wallet the value wouldn't be $100. The price would be whatever btc is valued at currently. No matter what it's still 1 btc.
Parker Reyes
>not getting armor for your doggo