OriginalBankster (OP)
Newbie
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Activity: 56
Merit: 0
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October 15, 2017, 12:01:31 AM |
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Hello,
i want to sell my Bitcoin prior to the fork and later get back in. but if i sell em for fiat capital gain tax kicks in, if i sell em for Alts, they get dragged down too.
What are my options?
USDT?
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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squatz1
Legendary
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Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
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October 15, 2017, 03:16:21 AM |
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Tether USD. It's an altcoin but it's one that sticks around the $1USD price as it's 'tethered' to the price of USD. Which is always going to be at the same price, you could do this at any exchange as most actually have the tether currency on it. It's not a scam either, though in a time like this a lot of people could be buying and selling so this could cause some fluctuation in the tethered price. - http://coincap.io/USDTGoodluck! I'll be doing the same btw, though probably selling most. |
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cpfreeplz
Legendary
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Activity: 966
Merit: 1042
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October 15, 2017, 03:19:37 AM |
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Why do you even want to do this? Lol sounds like a bad idea. You know the bitcoin gold fork is a joke right? It has no support.
Tether is fine for this, but really all you're doing at that point is being into an always inflating currency.
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jtipt
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October 15, 2017, 03:31:39 AM |
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Why do you even want to do this? Lol sounds like a bad idea. You know the bitcoin gold fork is a joke right? It has no support.
Tether is fine for this, but really all you're doing at that point is being into an always inflating currency.
Even if bitcoin gold isn't a joke, why wouldn't you want free altcoin. It doesn't seem like bitcoin is going to dump a lot after the fork, so you should be fine if you had bought before $5k. Just hold and wait it out you might even get a free altcoin. |
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Bagaji
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October 15, 2017, 04:15:46 AM
Last edit: October 16, 2017, 10:57:06 PM by Bagaji |
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Hello,
i want to sell my Bitcoin prior to the fork and later get back in. but if i sell em for fiat capital gain tax kicks in, if i sell em for Alts, they get dragged down too.
What are my options?
USDT?
If you are to sell all your Bitcoin for fiat currency all for the fear of coming fork in November, be rest assure that it might be difficult for you to buy back the same quantity of the amount you sold your Bitcoin. This is because, they may be a skyrocket of Bitcoin market value after Fork to a positive direction of which you might not be able to get reasonable amount as compared to the amount of Bitcoin you were holding before the conversion to fiat currency. |
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cryptoolk
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October 15, 2017, 05:53:14 AM |
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noting to worry.if you got it the BTC below $4500 .did you remember june/july fork BTC reached to $3000 to $2000 then after the fork it reached $4500 within 2-3 week then noting to worry .all the BTC holder at that dat got BCC.then keeping BTC will get you FREE altcoin
i have a question to what is best exchange to keep the BTC at that day ?
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Herbert2020
Legendary
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Activity: 1946
Merit: 1137
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October 15, 2017, 06:58:07 AM |
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USDT is an option but it is NOT a good option though. tether is a convenient altcoin with a nice feature that stays at $1 but at the same time it is not risk free. there is a high chance that the price can fall down, the company that backs this coin can even go down (bankrupt or something) and that can put an end to this coin and your money can go up in smokes. altcoins are not valid options either. they go down if by any chance bitcoin goes down. your only option is to go back to fiat if you think bitcoin may go down. and remember that no matter what you do, you are still taking a lot of risk. because there is a better chance that bitcoin rises a lot more like the previous time fork happened. you sell at $5000 and come back after the fork just to see price at $7000+  |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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cryptoalfs76
Full Member
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Activity: 406
Merit: 100
▰▰▰ MODULE ▰▰	
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October 15, 2017, 01:55:22 PM |
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Hello,
i want to sell my Bitcoin prior to the fork and later get back in. but if i sell em for fiat capital gain tax kicks in, if i sell em for Alts, they get dragged down too.
What are my options?
USDT?
In my own opinion its better to hold all your bitcoin prior the fork come in november.we must learn to have a patience and follow our instinct.we must study the fundamental analysis we must return to the basic.sometimes we must learn to sacrifice instead of earning now to earn more in the future. |
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Gozie51
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October 15, 2017, 03:32:09 PM |
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I'm equally thinking is better to hold till the news of the fork thaws. Whether the fork is real or not because bitcoin is not really going dip when whatever news goes off. Bitcoin has come to stay, even with or without the EU meeting.
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soham
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October 15, 2017, 04:01:38 PM |
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Hello,
i want to sell my Bitcoin prior to the fork and later get back in. but if i sell em for fiat capital gain tax kicks in, if i sell em for Alts, they get dragged down too.
What are my options?
USDT?
Why do you want to sideline your bitcoin during the fork? You will miss out on bitcoin gold. That may a loss for you. However, I won't suggest to buy altcoins using the bitcoin before the form and then buy bitcoin again using that alt after the fork. That's too much risky. If bitcoin price goes down, it will bring down the entire crypto market. So you may incur huge loss for this activity. Instead keep your bitcoins in a wallet where you have access to the private key and enjoy the free bitcoin gold. That's an wise thing to do. Otherwise cash out in fiat just to safeguard your capital. |
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Orsenise
Member
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Activity: 92
Merit: 10
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October 17, 2017, 01:53:31 PM |
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USDT is a good options, but you'll see it often inflates a lot, like selling for 1.01 etc. but that's still fine. There are some new solutions about lauch (a tether for each FIAT currency out there) but until they are launched your best bet is in USDT, or to cash out which is something you don't want to do. Keep in mind that USDT was running to some problems prior to this year, they had many bank closures in Taiwan and you never know how this will evolve in the future (if it happened once it's likely it will happen again) but the price has been quite stable the last months so it would be a huge dissapointment if something would happen while you bough it.. it'll probably be fine  |
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