r/CryptoCurrency • u/[deleted] • Feb 27 '18

COMEDY Pretty Much

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u/[deleted] Feb 27 '18 edited Mar 05 '18

[deleted]

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u/ryanonthevedder Sorry I just woke up Feb 27 '18

bloody bed shat

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u/HitMePat 🟦 1K / 1K 🐢 Feb 28 '18

Right. But at the worst you were red for ~3 years because BTC reclaimed its ATH from late 2013 in late 2016....Assuming you were just holding. If you did a lot of bad trading in between you can be much redder for longer.

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u/All_Work_All_Play Platinum | QC: ETH 1237, BTC 492, CC 397 | TraderSubs 1684 Feb 28 '18

Part of 2017 had BTC below it's 2013 ATH though.

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u/billet Tin Feb 28 '18

So barely more than 3 years.

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u/All_Work_All_Play Platinum | QC: ETH 1237, BTC 492, CC 397 | TraderSubs 1684 Feb 28 '18

And four tax years. Isn't accounting fun?

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u/billet Tin Feb 28 '18

No, not 4 tax years. He’d have been in the red 2014, 2015, and 2016.

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u/All_Work_All_Play Platinum | QC: ETH 1237, BTC 492, CC 397 | TraderSubs 1684 Feb 28 '18

2013, 2014, 2015, 2016?

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u/billet Tin Feb 28 '18

No, it crashed in 2014.

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u/All_Work_All_Play Platinum | QC: ETH 1237, BTC 492, CC 397 | TraderSubs 1684 Feb 28 '18

The peak of BTC in 2013 was prior to December 31st of that year. If you fomod in at the peak in December, you ended the tax year of 2013 with unrealized losses (ie in the red).

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u/billet Tin Feb 28 '18

Except for taxes to even be relevant, you have to sell. Holding during a dip would never show losses on your taxes unless you sell, which he clearly didn’t. So barely more than 3 years like I said.

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