You can stake your crypto without losing it. Look into Kava or Blockfi. Probably best to hold onto your BTC, not sell it since it is likely to appreciate. BTC gets more scarce over time. Taxes are paid when you recognize a gain through selling or trading. You can also recognize losses, so keep that in mind when your crypto goes down in value. There are ways you can get loans through crypto, but if you don't pay I believe you will lose your crypto collateral.
2021-05-09 17:13:28 +0000 UTC
Question to the group...On a couple of the Convo with Friends, Michael alludes to severe climate changes and drastic changes to current geographical areas of the planet. Can someone point me to the resources or maps that project these changes? Thanks in advance.
2021-05-05 17:18:54 +0000 UTC
I'm really trying to figure out staking/lending and trying to do something useful with the crypto I hold.
Here is a hypothetical example that I think would be worth a conversation/video.
Let's say I want to buy a new tractor that costs $50,000 USD. I have one bitcoin that I bought at $10,000 less than a year ago, and is now worth $50,000.
I could sell the bitcoin for USD and pay short term capital gains on $40,000 (let's say 30% for a round number) so I lose $12,000 right out of the gate.
How could I borrow $50,000 against my bitcoin, and what are the implications of wild BTC price swings, say 1 year from now.
For example: 1 year from now BTC is worth $5,000 USD. What happens if I just don't pay back the loan and forfeit my BTC?
Example 2: 1 year from now BTC is worth $100,000. Could I sell 0.5 BTC to pay off the loan, what would be the tax implications.
Then lastly, from the other perspective, what if I stake 1BTC to earn interest, and 1 year from now BTC is worth $5,000. Now many people default on BTC loans and I potentially lose my BTC?
2021-05-05 13:36:36 +0000 UTC
βThe Listβ CV has built out is a good reference... by the way, youβre not too late... this is all just really getting started.
2021-05-05 03:31:11 +0000 UTC
Now that was a lot of fascinating stuff. I think that was Dick on that website that has the different pics of coins. Ex.Doge/panda... dick was right on the center of all the coins . Gotta look again at that. ππ π€£
2021-05-05 02:20:46 +0000 UTC
so if we are late to Ethereum and bitcoin what should we buy??
