Crypto newfag thread #2

Then I think you are a retard.

(Am I doing it right as a newfag?)

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Maybe you would be better off just holding your US Dollars in a bank account. That's the REAL store of value, right? Fuck off pleb we're here for the trade of the century

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Why the fuck would a global monetary system be limited in blocksize and thus scale? You telling me the maintainers of such a system (that presumably contains trillions in transactions and wealth) can't scale up their operations?

I believe in some use cases for crypto. But not as a currency that is going to replace fiat money, and not as a store of value.

Yeah you know if anyone actually used BSV or whatever shitcoin you like it would have worse scaling issues than BTC or ETH or anything else you're salty about

What is the best way to cash out in the US? What kind of taxes are you expected to pay if you held for over two years?

This please. Details
I'm thinking buy Bitcoin with altcoin profits then Bitcoin atm in country with no cap gains

>What is the best way to cash out in the US?
Gemini is arguably the best since they're built for institutions and have the least friction with the legacy financial system. Keeping the transactions small (a few thousand dollars each) brings up the least problems with a local bank. You can also send bitcoin to a crypto debit card (like the cashapp card) and buy stuff with your crypto just like a normal debit card
>What kind of taxes are you expected to pay if you held for over two years?
Depends on the state and it depends on the amount of profit on the sale. I have a crypto tax company called taxbit handle that for me, I pay $50 a year and they generate an 8959 capital gains form for me. Made around 15 grand from crypto last year and I paid around 15% of that in capital gains.

>it would have worse scaling issues than BTC or ETH
I think you're full of shit and don't know dick about blockchain. BSV currently has a world record and is demonstrably more scaled than btc or eth. So why are you such a fucking liar?

LOL, called it. You BSV faggots are insufferable. Craig Wright is an autistic grifter who stole money from the Australian government
youtube.com/watch?v=lPbh2ltm1wI

>pic
Don't people want bitcoin/other crypto to become an everyday currency? How is that compatible with the kind of model in the pic? Because BTC increases in value so much (or at least, it has done so far), that's an incentive NOT to spend it. Fiat is the opposite because it inflates so fast.

Thoughts on PNK and STA? Actual good projects or are they just scamcoins memed here the same way XRP is memed?

Yeah, you sure called it. The only scaled Bitcoin.

After it hits critical mass the deflationary events will become negligible. The real reason that Bitcoin increases so much in value is because humans don't know how to value it properly and rush in to buy it after each halving
I haven't done much research on them. Might be worth having some small bags of them. Statera had a huge liquidity bug a few weeks ago that crashed the price, that's about all I know about it.

Bitcoin is NOT fungible, it's the opposite.

>buttcoin
>scarce

>buttcoin
>easily transactable

>buttcoin
>secure

>butcoin
>non-consumable

Remove that retarded graphic please.

Ouch. That's an ugly chart. I would probably be salty too.

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>8959 capital gains
Nice, a flat 15% was what I was shooting for. When people talk about paying tax for every transaction, is that mostly to scared people? Like, can I just pay 15% from when I initially put my USD in, to when I took it out?

In all seriousness, is ETH the network that coins like LINK and others work on? If ETH is the network, why invest in coins and not just put all my money in ETH?

YTD is plus 40% over BTC. I can cherry pick too.

Meanwhile BSV is not only overall up vs btc, but also outperforms it in every other way concerning scale and utility. Same goes for eth.

You wouldn't. Unless you want to gamble. Eth is a safer bet (still a premined shitcoin though).

It's based on a first in first out system. If you bought one bitcoin at $1000 and another at $2000, then sold them both for $20,000, you would pay 15% of 9,000 for the first buy and 15% of $8000 for the second. I wouldn't worry too much about it, there's plenty of software built just to do this. Keep the profit from each trade under $19k because after that mark the taxes go up substantially.
LINK is an ERC20, which means it's a token used in an Ethereum smart contract. You need ETH to send LINK. If you're using an exchange they usually handle that for you. Would agree that LINK is likely overvalued and ETH is likely undervalued.

This is all I have bc a friend sent me. anons here told me that's not even a fucking dollar.
What should I do with this then? Is it worthless?
How much money do I need to have to make some profit?

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>What should I do with this then? Is it worthless?
I would set a sell order at around 90 satoshis and just wait. If that order got filled you would have 360 satoshis which right now is worth around four cents.

This is incorrect daytrading stocks lets you have choice over which stocks you trade. I forget what it’s called but you don’t have to do FIFO in US

How do I even buy crypto? What websites are legit?