it’s one of the coins I see in here repeatedly being mentioned that’s gonna make me question why didn’t I pick some up when yall kept talking about it…gonna pick some up tomorrow…then will decide if I should go in more after I read around a little bit more…shoulda picked some up when it was hovering around $0.02 tho
1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
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it’s one of the coins I see in here repeatedly being mentioned that’s gonna make me question why didn’t I pick some up when yall kept talking about it…gonna pick some up tomorrow…then will decide if I should go in more after I read around a little bit more…shoulda picked some up when it was hovering around $0.02 tho
satireprod
Superstar
That's my exact sentiment, I hear too many good things about it, I definitely dont want to be up here 3 years from now and its went from 4 cent to like 4 dollars or something.. I already was late on a few coins mentioned in this thread, might as well test the waters with this one..at 2 cent would have been better but still good at that price for what it represents
Anybody here in Decentraland(MANA)? I saw a video yesterday and the concept behind it is dope.
Yeah, many people were in early before it really took off a few months back.
And I got in later and I don't think he knows I have it.
He's the type of homie that if I hit it really big, like millions of dollars on one of these meme coins I'll easily shoot him at least 50 ETH so hopefully I can make up for my bad investing advice one day.
satireprod
Superstar
And I got in later and I don't think he knows I have it.
He's the type of homie that if I hit it really big, like millions of dollars on one of these meme coins I'll easily shoot him at least 50 ETH so hopefully I can make up for my bad investing advice one day.
coldblooded, you out here giving the Coli brehs good game on valuable coins and doing your homeboys like that? Lol nah I get things happen, just the way it was worded had me rolling.
Yeah true. This was before I knew much about mana. I barely even mention it cuz I don't pay attention to it much unless I see something here and there.
Lol nah I get things happen, just the way it was worded had me rolling.
satireprod
Superstar
I feel you
NewsBTC: Time To Tune In: “Channel” Could Take Ethereum To $40,000.
Time To Tune In: “Channel” Could Take Ethereum To $40,000
Time To Tune In: “Channel” Could Take Ethereum To $40,000
satireprod
Superstar
Yea man, the taxes you might have to pay on staking may be an issue, especially if you have a big bag on a certain project.
Theoretically, let's say you have a big bag of CAKE and are staking them. You got in early and your bag is estimated to be $1 million. If you use the Auto Cake on PancakeSwap, the APY is currently 92%.
If the price and APY% hold for a yr, your reward gains are $920,000. Since it's been compounding, those are taxable events every day. So, even though you haven't manually done any trades or converted any CAKE to fiat, you owe short-term gain tax on 920K?
Sure, "sound like one of them good problems" - Marlo, but damn.
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Yea man, the taxes you might have to pay on staking may be an issue, especially if you have a big bag on a certain project.
Theoretically, let's say you have a big bag of CAKE and are staking them. You got in early and your bag is estimated to be 1 million. If you use the Auto Cake on PancakeSwap, the APY is currently 92%.
If the price and APY% hold for a yr, your reward gains are $920,000. Since it's been compounding, those are taxable events everyday. So, even though you haven't manually done any trades or converted any CAKE to fiat, you owe short-term gain tax on 920K?
Sure, "that's one of them good problems" - Marlo, but damn.
True but is it a gain if you don't sell? And compounding doesn't mean daily. Like take my atom staking for example. Or better yet osmo since it's a basic number of like 20 a day. If I claim rewards once a month and then stake those rewards, it wouldn't be compounded daily. But then some places have you claim rewards and others like coinbase I think do it automatically. So maybe it depends how frequently you take rewards and then how long you're holding the asset. That's why compounding is a good thing because you paying taxes of course but with free money. Let's say you pay 30% on those 920k. That comes out to 276k. Subtracted it's 644k. If you take even 300k of that and add it to the million bag that's 1.3 mill and if that 92% holds its 1.196 mil, and at say another 30% it's 358.8k. So that math of 1.3 - 358.8 is 941,200. So if my math is right, the first year, you're left with 644k and then the next year it goes up to 941k and that's after paying taxes and still having your initial investment. I'm not an accountant or tax expert so I could be wrong. I'm looking at it in a way that someone could use some of the money made by staking to pay off taxes and then some to increase the staking bag for the next year. Start with a million coins one year and then prolly reach 2 million in ten years or something like that and it's like a circle of finances. Coins coming in every year and some going out. Kind of like income from a job. Money comes in, some goes to taxes, some goes to fun, some goes to help make more money like money to maintain your vehicle, your health, any clothing and other supplies you use for work, etc. It's like reinvesting in yourself thru out the year.
I think it is a gain because with the (auto) compounding, aren't those taxable events? Even if some are daily, every 7, 30, or 365 days.
But I feel you breh, it's that slow roll to wealth. You're right about using some of those gains to pay the taxman.