2021 💎 Diamond Hands FOMO Club

[Planktroneum]

                     Hello 

 & welcome to the Electroneum  community Forum.. 


           💎 Diamond Hands FOMO Club 💎

      ( Name credit goes to @Moonman 🤝💎 )

As normal the same rules apply;

This is ETN FOMO club
No FUD
No Swearing
No Referral links

Above all please be courteous to all guests, Thank-You…

If you find any problems along the way please contact the moderators or admin…

Please use these buzzwords on your social media chats as it will help point people to Electroneum and further our reach.

#ETN
#Electroneum
#WeAreETN
#crypto
#cryptocurrency
#blockchain
#exchange
#unbanked
#technology
#financialinclusion
#fintech
#ICO
#cryptotrading
#altcoin
#trading
#secure #etneverywhere #EtnFamily #taskschool #AnyTask
#electroman
#cryptocurrency
#cryptocurrencies
#CryptoNews
$ETN

Links…

Main

Electroneum offers a new way to earn, send and pay

Support

https://support.electroneum.com/hc/en-gb

AnyTask

https://anytask.com/

Official groups

Facebook:

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Twitter:

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Telegram

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Links for news and updates

Etn Pressroom https://news.electroneum.com/

Anytask Pressroom https://news.anytask.com/

Unofficial Groups:

Reddit:

r/Electroneum

2021 Will be a very exciting year for Electroneum & AnyTask

Hodl long… and enjoy the ride.

Plankton.

[higltypig]

tada! Welcome to the squirrels.

[Planktroneum]

[MUENORTCELE]

I love it @Planktroneum great job brother!!!

[Noonelikesus]

From now only one way… to the smoooooon

[John_Lambo]

Good to be here, love the title! I’m ready to be amazed by ETN. All buckled up, popcorn at the ready.

[J5Alive]

I’ve arrived now too, great name @Planktroneum!

Good morning everyone, I hope you’re all having
a great Sunday.

[UncleDen]

@Pete

Yes, and it’s kind of a disincentive for actually using crypto to buy stuff.

Rather than use the ETN app, or Milopay or whatever, and have to keep a record of every purchase that you make for years to come it will be much easier when the time comes just to cash out the entire holding to fiat, sort out the tax in one go at that stage so you never have to worry about it again and then happily spend the fiat without any worries.

How depressing.

This is why when i start using crypto based debit cards that I will shift towards ones that I reload in bulk to usd from crypto. Fewer taxable events to track that way.

[KyleFornia]

Woohooo!! Diamond hands unite! Good stuff, @Planktroneum

[davidefre87]

hey guys it’s a pleasure to be here

[Pete]

Sounds like a good plan.

It seems I’ve been under a misconception for a long time. Always thought that spending the ETN (or other crypto) as opposed to selling it wouldn’t be taxable. I’m going to have to take a while to process this and decide my best way forward.

I must say it seems totally wrong, as it’s taxing a sale twice, as there is already a sales tax on the transaction that is paid by the seller and passed on to the buyer as part of the price.

[B.F.A]

Hi folks i liked the name because diamonds are for ever, Happy days…

[UncleDen]

It helped me wrap my brain around it to remember that I am only being taxed on the gain.
Important to remember here too is that in the US at least losses can offset that gain.
I also am looking fondly at Portugal. That is an entirely different topic.

[Billy_Bongo]

Hello fellow DH’s

It appears we have a falling wedge, BUT is it a bullish or bearish FW

[UncleDen]

@UncleDen

It helped me wrap my brain around it to remember that I am only being taxed on the gain.

Yeah. Quoting myself. Tacky.
From what I saw in the UK the first 12k in gains are tax free depending on income.
In the US short term is taxed as income. Long term (over year) has more favorable treatment. If living only on such gains it works out that the first $52k is tax free at the federal level. my state would charge me 4.4% on 40k of that. After that the rate is still lower than comparable income rates.
So it can still be pretty ok.

[Pete]

Cashing out in a smaller number of large amounts and spending as fiat certainly doesn’t help mass adoption of crypto, but maybe that’s the idea.

The silly thing is if you had a massive gain and started splashing your money around you are already boosting the economy and generating large amounts of sales tax.

[Noonelikesus]

Yeah… Portugal is nice option… till now

[UncleDen]

The reasoning is that in the US, and from the looks of it UK, crypto is taxed as property instead of treated as currency. That is probably how it will be until the explosive growth is out of crypto.