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(CNBC)   Cyptobros may be tax cheats? You don't say   (cnbc.com) divider line
    More: Obvious, Internal Revenue Service, Taxation in the United States, Tax, IRS collects, much tax revenue, crypto traders, tax gap, DeFi activity  
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443 clicks; posted to Business » on 19 May 2022 at 12:53 AM (12 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



12 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-05-19 12:55:29 AM  
While they have to pay taxes on the gains, they can also take deductions on their losses.
 
2022-05-19 1:03:58 AM  

mr0x: While they have to pay taxes on the gains, they can also take deductions on their losses.


Those are limited, though, of course.  You can only claim $3000 per year, but you can carry forward at least.  Of course, you're not given the same benefit on earnings
 
2022-05-19 1:06:54 AM  
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2022-05-19 4:01:36 AM  
The Venn diagram of crypto bros and libertarians who hate government is nearly a perfect circle.
 
2022-05-19 4:47:34 AM  
Crypto bros have assured me that since the blockchain is public the IRS can figure out what everybody has bought/sold with just a wee bit of work.

Crypto bros have also assured me that crypto is the ultimate way to keep your anonymity for private transactions, so youre hidden from government IRS prying eyes.

It's almost as if cult follower crypto bros will say anything, no matter how contradictory, to try to get the next greater fool into the con.Then there's always the classic: Crypto using enormous amounts of energy worldwide HELPS the environment!!

Crypto bros behavior really is like a religious cult in at least the following ways:

Contradictions galore.

Appeal to those who consider themselves to be the oppressed (for crypto, the less wealthy, who will be the new rich, doncha know!)

Publicly displayed symbology to profess your faith and encourage others to join you  (crucifix, laser eyes avatar)

Promises/mantras that arent remotely logical (Crypto solves everything! Crypto HELPS the environment!)

Faith in leaders BECAUSE of their arrogant arsehole characteristics. Wow, if the leader is so confident he must be telling the truth, right Reverend Jim Jones? (see: Do Kwon of Luna fame)

If you just follow the rules, you are promised your wildest dreams will be fulfilled (HODL! Lambo to the moon!)

If you don't believe, it is just because you haven't researched the holy (ie. biased) materials enough

Spinoff gimmicks to pull you deeper into the rabbit hole (e.g. religious relics, saints, NFTs)

That's just off the top of my head. I'm sure Ive missed a bunch.
 
2022-05-19 5:44:45 AM  

ChibiDebuHage: Crypto bros behavior really is like a religious cult in at least the following ways:

Contradictions galore.

Appeal to those who consider themselves to be the oppressed (for crypto, the less wealthy, who will be the new rich, doncha know!)

Publicly displayed symbology to profess your faith and encourage others to join you  (crucifix, laser eyes avatar)

Promises/mantras that arent remotely logical (Crypto solves everything! Crypto HELPS the environment!)

Faith in leaders BECAUSE of their arrogant arsehole characteristics. Wow, if the leader is so confident he must be telling the truth, right Reverend Jim Jones? (see: Do Kwon of Luna fame)

If you just follow the rules, you are promised your wildest dreams will be fulfilled (HODL! Lambo to the moon!)

If you don't believe, it is just because you haven't researched the holy (ie. biased) materials enough

Spinoff gimmicks to pull you deeper into the rabbit hole (e.g. religious relics, saints, NFTs)

That's just off the top of my head. I'm sure Ive missed a bunch.



Another common indication of a cult is the use of special internal language and phrases not known to "outsiders", similar to Scientology's SP, OT or ARC. For Cryptobros it's FUD, HODL, WAGMI, etc.
 
2022-05-19 6:15:57 AM  
You never have to pay taxes if you HODL. Taxes are for 🧻🤲
 
2022-05-19 7:35:10 AM  
Okay. But please also do Amazon and GE and all those other massive corps who just don't pay anything. Do them too.
 
2022-05-19 8:07:28 AM  
All my apes taxed.
 
2022-05-19 8:22:56 AM  

saywhonow: Okay. But please also do Amazon and GE and all those other massive corps who just don't pay anything. Do them too.


The difference there is that Amazon is following the law.  You may not like the law, but you can vote for people to change it.  The bros are not even following laws.
 
2022-05-19 3:57:49 PM  

TappingTheVein: ChibiDebuHage: Crypto bros behavior really is like a religious cult in at least the following ways:

Contradictions galore.

Appeal to those who consider themselves to be the oppressed (for crypto, the less wealthy, who will be the new rich, doncha know!)

Publicly displayed symbology to profess your faith and encourage others to join you  (crucifix, laser eyes avatar)

Promises/mantras that arent remotely logical (Crypto solves everything! Crypto HELPS the environment!)

Faith in leaders BECAUSE of their arrogant arsehole characteristics. Wow, if the leader is so confident he must be telling the truth, right Reverend Jim Jones? (see: Do Kwon of Luna fame)

If you just follow the rules, you are promised your wildest dreams will be fulfilled (HODL! Lambo to the moon!)

If you don't believe, it is just because you haven't researched the holy (ie. biased) materials enough

Spinoff gimmicks to pull you deeper into the rabbit hole (e.g. religious relics, saints, NFTs)

That's just off the top of my head. I'm sure Ive missed a bunch.


Another common indication of a cult is the use of special internal language and phrases not known to "outsiders", similar to Scientology's SP, OT or ARC. For Cryptobros it's FUD, HODL, WAGMI, etc.


So, you're a crypto scientologist?
 
2022-05-19 5:41:33 PM  

chitownmike: So, you're a crypto scientologist?


I'm a Capricorn.
 
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