Why not invest a little in both? Although I'd personally recommend a little heavier in silver than crypto.
Silver consistently holds its value over time. Crypto is very volatile, but depending on which coins you pick, it's highly possible to hit a 10x if not more. Plus if you look at the main coins since inception, they do tend to increase a lot on average.
Q4. Will I recognize a gain or loss when I sell my virtual currency for real currency?
A4. Yes. When you sell virtual currency, you must recognize any capital gain or loss on the sale, subject to any limitations on the deductibility of capital losses. For more information on capital assets, capital gains, and capital losses, see Publication 544, Sales and Other Dispositions of Assets.
Exactly. I mine and invest in and out of crypto but I stack and hold silver. Look at the price of silver right now. It may never be like this again. It's almost not even profitable for miners at this price point. They are doing everything in their power to keep the price down.
Why not invest a little in both? Although I'd personally recommend a little heavier in silver than crypto.
Silver consistently holds its value over time. Crypto is very volatile, but depending on which coins you pick, it's highly possible to hit a 10x if not more. Plus if you look at the main coins since inception, they do tend to increase a lot on average.
That's why crypto is an investment and not a real currency.
When you convert your crypto, you have to pay capital gain on your return.
Who do you have to pay? Are we paying for our prisons?
In the US you pay the IRS.
Q4. Will I recognize a gain or loss when I sell my virtual currency for real currency?
A4. Yes. When you sell virtual currency, you must recognize any capital gain or loss on the sale, subject to any limitations on the deductibility of capital losses. For more information on capital assets, capital gains, and capital losses, see Publication 544, Sales and Other Dispositions of Assets.
https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions
And yes, prisons are funded from taxes.
you live in a prison of forms and government threats
I like GME the superstonk. Silver second place. Lots of land and properties close third place.
Exactly. I mine and invest in and out of crypto but I stack and hold silver. Look at the price of silver right now. It may never be like this again. It's almost not even profitable for miners at this price point. They are doing everything in their power to keep the price down.
So much this. EVERYTHING has gone up, dollar obvs losing ground but the metals are holding LOW if it isn't obvs by now...