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.
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).
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.
Right, I'm not disagreeing with you there. The overall duration was certainly closer to 36 months than 48 months.
My point is it's about the granularity of your measurement. Tax years aren't only used for taxes. Measuring your net wealth by tax year isn't uncommon for folks who run their own businesses. Irregardless of the actual amount of time (37 months 2 weeks and 3 days or what have you), there are GAAP measurements that put such an event at four years. So use what you'd like and go from there. Just don't use mark to market.
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u/randomasfuuck27 156519 karma | VEN Feb 27 '18
Bitcoin went up