Bitshares price discussion

[Ander]

So if we don't break 2800, back to 2650 to stage for re-test?

Yes ;)

And time to buy again.

[speedy]

Has anyone doing short term trading considered tax implications?  Do you think you have to pay short term gains on BTS/BTC trades?  If thats the way it works it may be an accounting nightmare.

Do you have a capital gains allowance in the US?

We have short term and long term capital gains... anything held over a year is long term.  Long term is substantially less percentage than short.

What I'm wondering is about making trades in the crypto world.  Are all crypto's considered the same, and you just take taxes out after you convert back to fiat no matter how many cross crypto trades you had during that time?

I read up somewhere that the IRS have already made a ruling that swapping from one crypto currency to another is considered a "taxable event", so no you have to keep a record every time you make a crypto trade, or else you go to the slammer.

Some here have theorized that trading inside the BitShares blockchain wouldnt be a taxable event, but to me that sounds like wishful thinking. In the UK however gambling is not taxable, so I think you could argue that trading inside BTS is like gambling.

/not an expert

[lil_jay890]

Has anyone doing short term trading considered tax implications?  Do you think you have to pay short term gains on BTS/BTC trades?  If thats the way it works it may be an accounting nightmare.

Do you have a capital gains allowance in the US?

We have short term and long term capital gains... anything held over a year is long term.  Long term is substantially less percentage than short.

What I'm wondering is about making trades in the crypto world.  Are all crypto's considered the same, and you just take taxes out after you convert back to fiat no matter how many cross crypto trades you had during that time?

[speedy]

Has anyone doing short term trading considered tax implications?  Do you think you have to pay short term gains on BTS/BTC trades?  If thats the way it works it may be an accounting nightmare.

Do you have a capital gains allowance in the US?

[jsidhu]

noob here, just remembered reading some stuff about double tops and that people usually short when that happens. Could we possibly have one during this week? And then it will dip? So if we hit 3k in the following days, couldn't that be risky too?

Take a look at the 6 hr chart or something similar. The volume should be the highest by far at a top. If we break the high then id want to see buying climax volume before considering selling.

Im basing it on the signature of the moves in bts the last few months

[Akado]

noob here, just remembered reading some stuff about double tops and that people usually short when that happens. Could we possibly have one during this week? And then it will dip? So if we hit 3k in the following days, couldn't that be risky too?

[sittingduck]

I say call them like kind exchanges.


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[lil_jay890]

Has anyone doing short term trading considered tax implications?  Do you think you have to pay short term gains on BTS/BTC trades?  If thats the way it works it may be an accounting nightmare.

[Ander]

tony thats pretty much what i am doing.  I just went over 10% that one time and was correct. ;)

[tonyk]

100 btc does not look like a huge number for the trade volumes of late. Maybe I am wrong and most everybody is doing what Ander is doing or what I am doing ( I am trying to catch what I consider would be lows and selling in strong rallies and hopefully short squeezes, using up to 10% of my BTS as collateral  - much safer strategy then his, imho) which introduces a lot of trading volume.

[jsidhu]

It prob started as a quick scalp but his greed took over to try to atleast break even.. That move up few weeks ago caught alot off gaurd., i bet the market teaches him a lesson, seperate fools from money is the game.

[Ander]

Publicly shorting is a viable strategy, ala Bill Ackman. But you better have the goods.
Shorting BTS at these levels and with the news flow these days... get your popcorn ready.

Yeah if youre gonna publically short, maybe you need to have a lot of capital and be shorting something thats in a downtrend and has weakfundamentals.

His shorting BTS in this case is just walking in front of a train.

[escalicha]

Ready to long.

[godzirra]

Publicly shorting is a viable strategy, ala Bill Ackman. But you better have the goods.
Shorting BTS at these levels and with the news flow these days... get your popcorn ready.

[Tuck Fheman]

So if we don't break 2800, back to 2650 to stage for re-test?