RE: My life is changing so fast (and it's damn scary).
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man congrats!! we have a millionaire among us! You are a bright example of what one can succeed with cryptos and i believe you are also a role model now, so bear that responsibility :P I am honestly extremely happy for you right now and i think everyone who reads this will get motivated!
The only question i have, is about the taxes that will now occur with those 100k in bank. Have you thought, checked about that? I also don't know what's the regulation and laws in your country. For example, in Greece if i would cash out even 5k, the bank would ask where are that money coming from?
Finally, we are waiting for all your shillings on those amazing coins that you discover in order for us to become millionaires as well :P
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We have more than one millionaire among us now.
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Thank you bud!
Regarding taxes, it varies a lot depending where you are.
In my case (Spain), I have to pay ~21% of all the profits (it's a bit more complex than that coz we have tiers). And with 'profits' I mean also money in crypto changing from shitcoin A to B (a bit abusive though).
In addition if you have over 50K$ outside of the country you have to declare it (give that information). I feel a bit sorry for my accountant, because I give him more than 1 headache lol.
Regarding those magical coins. Don't overcomplicate.
I own 5-10 coins at max (AVA, HIVE, LEO, CUB, ORN, BTC & ETH) and stop counting.
I only trade with 5-10% of my net worth.
The other 95% is just rebalancing (profits from A to B, or cutting losses from D to C...) But I stay among these coins mostly.
Thank you :)
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yeah that's quite abusive. so if you earn let's say 100$ from a good trade or buy of a shitcoin and then that shitcoin gets a dump and worths 0 you are still taxed in those 100$? or if you sell the shitcoin to euro for example, so that euro is considered a profit?
once again congrats on becoming a millionaire!
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Only if you 'realize' the profit. Which is when you sell (for another shitcoin or just €).
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