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DavyJones

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  1. DavyJones

    US Tax Deduction for XRP Losses

    At least for germany there is a very detailed thread here (in german of course): https://bitcointalk.org/index.php?topic=1976285.0
  2. DavyJones

    Stable coin as iou on xrp ledger

    Isn't that exactly what all the Gateways like Bitstamp or Gatehub for example do? They issued their own IOUs on the XRP ledger afaik and you can simply cash out at their exchange.
  3. DavyJones

    Down down down

    Is there some kind of riddle or a hidden message in this thread? I'm sure many people will scroll "Down down down" and think something like "Get out while I still can".
  4. Why does this matter? XRP/BTC is the same as BTC/XRP isn't it? Both are markets where you can trade your XRP for BTC or the other way round.
  5. DavyJones

    What an Incredible Year

    I completely agree that the progress and fundamentals have never been better and that the price is distracting, but 2019 could very well be a boring year with mostly sideways movement. This is just how it works. I hope that we can wish us all a happy xRapid before next xMas anyway. If the price doesn't follow next year there is still 2020, 2021 ...
  6. DavyJones

    Reverse H&S

    I'm not a trader anymore: Too much stress for my taste and if you don't manage your positions properly (especially tax obligations), the market will just eat you alive. My lowest buy was $0.03 and my highest sell order was around $3. I'll leave it to your imagination how much my potential tax obligations were. Luckily I live in germany and it seems that it is a crypto tax oasis. My trading stack ... well: I made the mistake to hold too long, but after some short selling near the bottom a few months ago I managed to cover the taxes and at least keep the amount of zerps I owned before I started trading. I enjoyed the trading experience and really like your posts which are often focused on the current technical market situation, but I neither have the time nor the passion for trying to understand the market on a day to day or even minute to minute basis anymore. I'm just holding for now, but will certainly buy more next year with my tax returns from this year.
  7. DavyJones

    Reverse H&S

    Very obvious. Maybe too obvious ... I don't trust anything I see on the charts nowadays, but it will be very interesting to see how it plays out.
  8. Are you sure that they are lost? You said in another thread that you know 98% of the password. When you are sure that you are only missing a few characters at the end of your key it should be possible to restore it with a few lines of code (and a little patience).
  9. When you bought in 2013 and the coins were never traded it should be visible on the blockchain. It depends on where you live, but in most countries there is something like a "long term capital gains tax" which is lower than the "short term capital gains tax". If you can prove that you bought them back in 2013 (email confirmation, trade history export, bank account transactions, ...) and held them ever since, it should be possible to apply the lower tax frame. You just have to prove your case somehow if the tax man knocks on your door. This is how it normally works, but different countries have different rules. If you are unsure it's maybe better to consult a financial advisor. Better safe than sorry.
  10. The tax authorities don't care. Every sale is a taxable event. When you finally cash out to your bank account they will certainly ask questions where this money came from and demand your trade history. If something isn't plausible they will most likely make you pay for the whole amount anyway.
  11. Exactly. There are a lot of people that made this mistake and sadly don't even know until it's too late. Be careful out there!
  12. Imagine someone who bought 10k of crypto and sold everything when his portfolio value hit 100k during the last bull market. He has to pay taxes on this 90k profit. Now imagine he went all in again with his 100k during the bear market without setting aside the money for his tax liability just as I described it in my first post. It is quite likely that his 100k are now worth only 50k. If the prices go down even more he may have to sell everything just to pay the taxes. In some countries it is not even allowed (or only to a certain degree) to offset your gains with your losses.
  13. There seems to be no logical reason at first glance. Only the irrational market doing its thing and people selling in fear. But why do people panic? Are they overinvested? Playing with leverage? Just trying to buy back lower? I think the main reason is: taxes, the biggest threat for the inexperienced crypto trader. There are certainly many people (myself included) that did some trading in 2017 and 2018. This is not a problem in itself when you manage your positions properly and always make sure that you can pay your taxes, but I think that a lot of people sold at higher prices and went "all in" again too early without managing their risk exposure. These people are now sitting on huge paper profits and it is very likely that they cannot pay their taxes. Therefore they have to sell at these prices just to pay the taxes. The market forces them to sell and does not care about their loss. I believe that big players are controlling the market and that they do everything to steal our precious assets. This is their perfect trap, because not paying taxes is certainly no option for most people.
  14. DavyJones

    Coinbase 12 days

    Oh no ... I can almost see people going crazy every day until there is none of the 12 days left and XRP is still not available.
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