This is a big problem with taxation..."pay double to support the government's wars, corporate subsidies, and other inefficient programs that probably don't align with your moral values." This is why I got into cryptos. Take the power away from the centralized, oligarchs and give it back to the people. Hopefully soon I won't have to cash out into fiat and I can avoid double taxation. I pay plenty of taxes from my salary, sales tax, etc. As of trading...they say 90 percent of people lose money day trading. I prefer mid term to long term holding, but sometimes if things line up properly, I will go for the short term day trade. Nice share
It's mad, I didn't see things like this. I'm a Business student in a United Kingdom University, making music and kind of trading/HODLing, and I don't pay taxes (yet) so I didn't even ask myself the question about this. I just pay all those fees from buying from X market or exchanging on Y exchange platform.. Buying BTC with fiat is such a pain.
Great value comment though!
The very good information you shared with this post. So it's actually learning post for newcomer also. I agree with this option('the buy-and-hold investment strategy') and I think it's the best idea.
Anyhow, thanks dear for this awesome post...
Like all things in crypto, lots of lines ( and labels) are getting blurred, whether it be investing or trading and their respective attributes and distinctions. Applying old frameworks to new the new tech of the blockchain and its related tokens and babies will be what I expect to see first. It'll be a surely be a mess and will invite (constitutional)litigations world over (see South Korea) , but hopefully, smart legislatures should realize the need for new approaches (laws and regs) to new problems/ tech. Especially if taxation is done right, it can truly be a win win for most. At the very core, the inefficiency of the tax system today (in most countries, including in India, where i'm from) is that it itself breeds the justifications, requirements and means to evade tax. Since we're all a bunch of disruptive folk right here, I'm sure the world with catch up to us soon enough (enter Gibraltar, Belarus, etc). One last thing, the difference between investing and trading will most often, as it is here, come down to how long you hold on to an asset. If you hold on to something for 3 years +, it'll probably be seen as an investment, less than that may be considered trading. This is how its done for stocks/equity, but given the time frame of crypto, this is a bit redundant, but that's what it is.
This is a big problem with taxation..."pay double to support the government's wars, corporate subsidies, and other inefficient programs that probably don't align with your moral values." This is why I got into cryptos. Take the power away from the centralized, oligarchs and give it back to the people. Hopefully soon I won't have to cash out into fiat and I can avoid double taxation. I pay plenty of taxes from my salary, sales tax, etc. As of trading...they say 90 percent of people lose money day trading. I prefer mid term to long term holding, but sometimes if things line up properly, I will go for the short term day trade. Nice share
It's mad, I didn't see things like this. I'm a Business student in a United Kingdom University, making music and kind of trading/HODLing, and I don't pay taxes (yet) so I didn't even ask myself the question about this. I just pay all those fees from buying from X market or exchanging on Y exchange platform.. Buying BTC with fiat is such a pain.
Great value comment though!
participation will improve if it is taxed because it automatically gets the legal status
Great point!
Informative, thanks!
Thanks for sharing this great topic and i'm hoping to read more from you
The very good information you shared with this post. So it's actually learning post for newcomer also. I agree with this option('the buy-and-hold investment strategy') and I think it's the best idea.
Anyhow, thanks dear for this awesome post...
Great article...
I just released the results from my FREE trading fund...
Benkalashnikov Trading Fund Is +22% This Week (Beating Bitcoin) — Steemit https://steemit.com/bitcoin/@benkalashnikov/benkalashnikov-trading-fund-is-22-this-week-beating-bitcoin
Very informative, goind to look for part 1. awesome post!
hi
Follow the follow-up
Like all things in crypto, lots of lines ( and labels) are getting blurred, whether it be investing or trading and their respective attributes and distinctions. Applying old frameworks to new the new tech of the blockchain and its related tokens and babies will be what I expect to see first. It'll be a surely be a mess and will invite (constitutional)litigations world over (see South Korea) , but hopefully, smart legislatures should realize the need for new approaches (laws and regs) to new problems/ tech. Especially if taxation is done right, it can truly be a win win for most. At the very core, the inefficiency of the tax system today (in most countries, including in India, where i'm from) is that it itself breeds the justifications, requirements and means to evade tax. Since we're all a bunch of disruptive folk right here, I'm sure the world with catch up to us soon enough (enter Gibraltar, Belarus, etc). One last thing, the difference between investing and trading will most often, as it is here, come down to how long you hold on to an asset. If you hold on to something for 3 years +, it'll probably be seen as an investment, less than that may be considered trading. This is how its done for stocks/equity, but given the time frame of crypto, this is a bit redundant, but that's what it is.
That's a very useful article. Thank you.