Cryptocurrency mega-thread

[Ohh Ok]

Been invested in crypto for a long time but only started dabbling in staking and swing trading this financial year, with tax coming up, whats the best way to complete/fill your tax return so you don't get the gov on your back and things run smoothly? Is this something my accountant can/should do for me?

 

[The Dice Man]

Do you mind if I ask how much you have invested in Bitcoin?

A very small amount, but that is in an LP with Tshare, earning more Tshare. I only bought it last week as it was a new pair, earning 1% daily on debut, but down to 0.42% daily APR right now.

Bitcoin doesnt really interest me, apart from it being the canary in the cave. It's less than half a percent of my wallet.

 

[Bostonian]

I think that if you can stay the course, and what you have invested is not affecting your financial situation at all, you can expect to see hefty returns in ten years time. As Kurt Cobain once sang, "I'll just sit and grin, the money will roll right in!"

That's based on if you pick the projects that last and prosper.

A great many won't.

 

[WaywardSonSon]

That's based on if you pick the projects that last and prosper.

A great many won't.

Well I married Bitcoin, so let's hope it does! Haha

 

[BACCS]

Been invested in crypto for a long time but only started dabbling in staking and swing trading this financial year, with tax coming up, whats the best way to complete/fill your tax return so you don't get the gov on your back and things run smoothly? Is this something my accountant can/should do for me?

There is some software online that can help process the data from exchanges for you (including DEXs), I've found Koinly the best to use. These websites can then generate a report for you to file at tax time. Staking and swing trading is easy enough for most software to process, NFTs I've found a bit harder and this takes a bit of manual calculation on top of what the software can do automatically.

 

[BACCS]

That's based on if you pick the projects that last and prosper.

A great many won't.

LUNA and FTM are getting smashed. UST going through depegging issues again is not a great sign, even if Kwon can cover it for now.

 

[The Dice Man]

LUNA and FTM are getting smashed. UST going through depegging issues again is not a great sign, even if Kwon can cover it for now.

FTM has been smashed for weeks, since Cronje had his little tantrum. Im heavily invested in there and can only hope it bounces back but I might be waiting a while.

 

[Bostonian]

LUNA and FTM are getting smashed. UST going through depegging issues again is not a great sign, even if Kwon can cover it for now.

I'm not holding either of those now.


Have gravitated more towards things that have an actual use case and just accumulating for my long holds.

 

[ash_1050]

BTC and XRP both creeping in on 12 month lows.

 

[Macca180]

Blood bath incoming

 

[The Dice Man]

Blood bath incoming

Have you been sleeping the last few months?

 

[Macca180]

Have you been sleeping the last few months?

been gradual....nothing like today...

 

[moncon]

LUNA and FTM are getting smashed. UST going through depegging issues again is not a great sign, even if Kwon can cover it for now.

LUNA getting absolutely caned, down about 30% in 6 hours today

 

[The Dice Man]

LUNA getting absolutely caned, down about 30% in 6 hours today

Anchor the same. De Kwon sold a shit load of BTC trying to save the UST peg.

 

[Gigantic]

Tweet didn't age well.

 

[BACCS]

Holy heck, LUNA down 50% on the day. UST down to 0.83, ****. Some awesome buying opportunities about to present themselves once the market settles down.

 

[BACCS]

These are the days I'm ok that perps for MC isn't a thing yet, because it's actually holding up relatively well for a lower cap amongst this carnage.

 

[BACCS]

How are you Shupe? Have you still got trust in LUNA long term?

 

[BACCS]

 

[BACCS]

Just another day in crypto...

 

[juss]

My crypto portfolio has taken a giant steaming bog heap dump over the last few months.

To be fair, the entire market looks to be in the shits at the moment.

 

[Bostonian]

Like a pig in shit at present with my micro DCA strategy.

 

[Bostonian]

This will bring about regulation at a faster rate into crypt.

Which will in turn lead to more money that's been sitting on the sidelines waiting for it into the market.

 

[nut]

Just bought back into Rfox .. surely it’s the bottom

 

[juss]

Like a pig in shit at present with my micro DCA strategy.

Yeh at next payday, I'll be doing a little bit of DCA on some of my holdings that are well below what I bought at previously.

Not going to go nuts though, need to balance my risk profile in case they don't recover.