Shiba Inu (SHIB) Discussion Thread

[ORDER_66]

Dropped another 2 bands during the dip. I have over a trillion coins.

hold breh.....

 

[mannyrs13]

Do you pay gas fees if you sell shiba for profit? Heard someone say this earlier in the thread.

Yes. They been killing me with fees but worth it overall. But yeah any transaction has a fee.

 

[RareHunter]

Yes. They been killing me with fees but worth it overall. But yeah any transaction has a fee.

So if u were to sell your Shiba that u have for a 2mill profit, you would be taxed by the government and pay gas fees? And out of the 2 mill, how much would go into gas fees?

I ain’t even cop yet cuz etherum wants all the money and axe the competition it seems.

 

[Leasy]

Damn legit response

 

[Mr Clean]

They're talking that talk

Might gotta get some more while its cheap

 

[Monsanto]

We back in it

 

[ORDER_66]

We back in it

Really???

 

[mannyrs13]

So if u were to sell your Shiba that u have for a 2mill profit, you would be taxed by the government and pay gas fees? And out of the 2 mill, how much would go into gas fees?

I ain’t even cop yet cuz etherum wants all the money and axe the competition it seems.

Depends on what the fees are at the time. Gas fees aren't percentage based. I can sell for 10 eth and pay the same fee as for 15 eth. All depends on the market that day. In order for the transaction to go thru, it has to be validated by the people on the network. And if it's busy or eth had gone up in price, they gonna charge more on the gas fee to make their work worth it.

As far as taxed by the government goes, I'm just transferring the coins on metamask and sending to other wallets. Some of those transactions like to it ledger wallet, the government doesn't know about. It's like moving money from your cash app to your bank account. I'm just moving funds nothing else. You do get taxed when you sell back to dollars based on capital gains. Chapter if you hold for more than a year but the tax rate depends on your income. I think up to 40k is tax free but who knows if that might change with this administration, especially Biden and Yellen.

 

[I Really Mean It]

Bought 25 million. Even if it only gets to .005, that’s fine by me, but if it reaches .01,

 

[satireprod]

Really???

 

[™BlackPearl The Empress™]

Same thing you can do with yours, or with US dollars or any currency. It takes money to get all the supplies and relief efforts. All that PPE and ventilators and everything costs money. The coins can be converted to ETH and then FIAT currency as the price goes higher and they can use it for more stuff. You have your coins cuz you want to one day have a better life. Same thing here. Price goes up and more people can have the help they need. Crypto is a worldwide market, traded practically everywhere. As the price goes up, they can start converting little by little or distributing some to their citizens or the country. Vitalik donated 50 trillion coins and it was worth a billion. Imagine if the price of the coin goes up like crazy and those 50 trillion end up being worth 500 billion, just from that billion dollar donation, of which Vitalik wasn't gonna touch anyways. Think of all the help that can do for them. And the possibilities to do that with other countries in need and push the price up for the holders. There have been 4 more donations since mine and the number of holders still going strong and likely increasing. Soon enough we'll be at 350k and just this past Saturday I think we were at 200k. Gonna keep gaining holders from here.

Great post. What kinda a$$hole would he be if the coin tanked? Yes it's going up.

 

[satireprod]

Great post. What kinda a$$hole would he be if the coin tanked? Yes it's going up.

That's that supervillain level a-hole if it tanked

 

[Monsanto]

Really???

I mean, I was waiting for the drop again. I already bought and was holding.

 

[I Really Mean It]

It’s fascinating how opportunities like this, doge and other coins have democratized wealth accumulation among groups who were once shut out from avenues of prosperity. Two decades ago, even if these coins existed, most of us wouldn’t know about them because the mediums by which awareness of them is currently spread didn’t exist then. I just find it very curious how the wealth divide is being narrowed by advances in technology that makes information more accessible.

 

[Scholar]

Any of ya in Polygon (MATIC)