Decay is correct, I was mobile and didn't have a chance to explain that in more detail.

Decay said:

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Tastybrisket10 said:

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My understanding is taxing only on the loss/gain of original investment because you should also be calculating short term long term based on how long you held it.

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If it's short term then the tax implications are just sold shares. So if we play easy numbers:

10 coin bought at $10 each or $100 total
value goes to $1000
You sell $100 worth or 1 coin
That 1 coin was worth $10 and sold for $100 so $90 in profit
So you have to claim $90 income

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You have to do the same thing if you convert from one coin to another, correct? Same scenario, but I convert 1 Coin to another?

Today they added *not affailated with Jaime* to their profile info, you think they read texags?

I noticed that too, and the thought crossed my mind

Champ Bailey said:

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Decay said:

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Tastybrisket10 said:

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My understanding is taxing only on the loss/gain of original investment because you should also be calculating short term long term based on how long you held it.

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If it's short term then the tax implications are just sold shares. So if we play easy numbers:

10 coin bought at $10 each or $100 total
value goes to $1000
You sell $100 worth or 1 coin
That 1 coin was worth $10 and sold for $100 so $90 in profit
So you have to claim $90 income

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You have to do the same thing if you convert from one coin to another, correct? Same scenario, but I convert 1 Coin to another?

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Yes indeed. It'll be treated like Coin 1 was sold for USD, and then you bought Coin 2 with that cash.

CrottyKid said:

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This seems like an Ethereum grab to me.
I would buy some LITH if I could just buy it straightaway with cash.

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An update on your point from their lead Dev on Telegram

" I just got off a zoom call with a Stripe rep and am beginning discussions about us potentially partnering to create a robust payment gateway that overcomes slippage and other fees like Gas. Zero promises, but I'm already moving on everyone's ideas.

Tomorrow morning, I have a phone call with a developer who just built a real estate token that operates in a similar fashion as our use case. If visions align, we may bring him in to expedite our IT build"

For Harmony One holders

LatinAggie1997 said:

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For Harmony One holders

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Might only be you and me

Ok by me...early adopters "alone in belief" edition...when/if they pull off the next big thing folks will ne asking lots of questions as to how they missed it.

Personally, I believe in the fundamentals (team) and truly think it will be the Poly of not really the dame thing but much better.

Few things on the LITH front today:

- Another WSB Post should go up shortly
- Satoshi Streets Bets Telegram page (about 100k subscribers) is doing a pinned post about $LITH @6CST

- Apparently a "major athlete" has signed to promote LITH and should be announced a few hours after SSB pin. (Jen has a UFC background, but Mike is a little but of everything, so no idea how "major" or what sport, but said someone in their prime)

I make 3 I guess

Is there a thread on crypto mining here on TexAgs? Curious is anyone is into mining- looking for ideas/resources to learn more.

OaklandAg06 said:

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Is there a thread on crypto mining here on TexAgs? Curious is anyone is into mining- looking for ideas/resources to learn more.

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We've bounced around the idea a bit.

I'm making approx $3 a month using my spare Plex server as a STORJ node. Some day maybe you too could generate tiny amounts of income that can't even be accessed because of gas fees!

Look at Cardano go today....

LITH about to 2x for the week, another round of big news endorsement in 35 minutes (athlete promoing took no cash, only LITH tokens)...good chance to make run at ATH before tomorrow.

It's DAK!

https://instagr.am/p/CSxn3W7sInf

proc said:

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Look at Cardano go today....

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Hate buying at all time high but this is tempting

Don't do it. ADA will retrace back. It always does.

Taking crypto for an endorsement is still paid promotion. Easy money for Dak.

Done7 said:

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Taking crypto for an endorsement is still paid promotion. Easy money for Dak.

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Did I say it wasn't a paid endorsement?....no, I just said he wanted token instead of cash

So what's up with LUNA? It's double it's price the past week?

Pretty sure Dak wanted cash or bitcoin. But it wouldn't be good publicity if a sh"t coin promotion didn't do the payout in their coins.

Partnership with Harmony One and some exciting things in the works.

Done7 said:

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Pretty sure Dak wanted cash or bitcoin. But it wouldn't be good publicity if a sh"t coin promotion didn't do the payout in their coins.

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So hiw did dak get paid here?

Nice to see my Cardano ecosystem tokens showing life...as expected...exciting to see where Cards, C3, Gero, and Occam go!!!!!

Oh yeah, that crap coin ADA is also reaching ATHs...hopefully there's no issue come Sept.

Anyone have thoughts on IOTX or REQ?

Don't forget to consolidate to btc to secure any gains.

Otherwise you'll find out what "heavy bags" means.

The game is who will end up with one bitcoin or more. Everything else is distractions, good luck. Don't lose your bitcoin wealth chasing "a buck." [Which are worthless]

Perfect strategy for most alt coins. I don't put ADA or Harmony One in that group. I am holding those long term.

Why? I believe something special is coming. It's just a gut feeling. When my instincts match up with my research I have no problem with the outcome either way. It is justifiable to me good or bad. I might sell 75% of my bag of One and 50% of ADA at the peak but only to rebuy them at the low.

Time will tell. It's always a fluid situation woth crypto.

It looks fluid from that perspective. From an aged perspective the picture has already perfectly formed.

LatinAggie1997 said:

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Perfect strategy for most alt coins. I don't put ADA or Harmony One in that group. I am holding those long term.

Why? I believe something special is coming. It's just a gut feeling. When my instincts match up with my research I have no problem with the outcome either way. It is justifiable to me good or bad. I might sell 75% of my bag of One and 50% of ADA at the peak but only to rebuy them at the low.

Time will tell. It's always a fluid situation woth crypto.

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Where do you think this current cycle goes up to?

With institutions in crypto the cycle is not going to be the same as the past 10 years. I imagine it will follow closely but "controlled". Peak might be Halloween Thanksgiving or NYE. My gut feeling is that the big money will control the ascent before the new year to maximize profits on the books this year's while leaving plenty of flexibility and growth for the next year.

ADA will reach $3 in the days before Sept 12 if no issues with release. It might shoot past it to $3.50 but a pullback will happen as profits are taken. I imagine the support will be between $2 - $2.25 and then as migrations happen and devs ramp it up it could peak between $5-$7. Should something exciting and unexpected happen then it could get to $10. Hydra should cause the next big stir along with new partnerships.

Harmony team works with their head down. Their roadmap is ambitious but I believe they are withholding something special. My gut feels they will announce some game changer later in the year.

LatinAggie1997 said:

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With institutions in crypto the cycle is not going to be the same as the past 10 years. I imagine it will follow closely but "controlled". Peak might be Halloween Thanksgiving or NYE. My gut feeling is that the big money will control the ascent before the new year to maximize profits on the books this year's while leaving plenty of flexibility and growth for the next year.

ADA will reach $3 in the days before Sept 12 if no issues with release. It might shoot past it to $3.50 but a pullback will happen as profits are taken. I imagine the support will be between $2 - $2.25 and then as migrations happen and devs ramp it up it could peak between $5-$7. Should something exciting and unexpected happen then it could get to $10. Hydra should cause the next big stir along with new partnerships.

Harmony team works with their head down. Their roadmap is ambitious but I believe they are withholding something special. My gut feels they will announce some game changer later in the year.

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Anticipating the Bitcoin bridge to release in Sept/Oct according to RockTheBlockChain (a Harmony validator) in one of my validator Telegram groups they hope to start a social media campaign leading up to that prior to its release.

If AAVE decides to launch on Harmony, that should bode well as well. Their current hackathon to bridge Traditional Finance to Decentralized Finance could bring something special.

I can't imagine it hurts to office next door to VISA and Stephen Tse's Silicon Valley connections are a huge selling point for me when it comes to putting my faith in a project like this. You can tell they bring a lot of what was learned at Apple/Google to their goal of bringing DeFi to the masses. Their 1wallet with 2FA as opposed to a seed phrase is going to open the doors of simplicity/convenience to a lot more people.