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After the sudden rise of Dogecoin earlier this year, numerous questions started to fly around about taxing crypto. When we file taxes early next year, we will have to add information regarding crypto trades! If you reside in the United States, be careful if you are shorting cryptocurrency for fun.
It’s exciting when your favorite crypto spikes and angering when the opposite takes place. However, be careful listening to people urging you to short other coins. While it might help some people’s portfolios, it could come back to hurt your finances in the future. If I remember correctly, exchanges have been told to report anything over $10,000.
If you are new to crypto, you might not be aware that cryptocurrency is viewed as property. I will link something below to give you an idea of the whole tax ins and outs. Just be careful out in the crypto wilderness. This is why it is important to talk to financial advisors about how and when to trade crypto. Never let Twitter act as your financial advisor because it isn’t! Other than that, have fun and invest in your favorite coins.
In other news, SHIBA has been down since last night! Dogecoin has been up to 24.66%. I am still worried about Dogecoin, to be honest. With the amount of money that was poured into Doge by their investors, I would think it would have gained more than nearly 25%. As for Shib, most of us are still holding. Corrections happen, and so do other things!
I can’t wait to see what the weekend brings for our crypto community. As always, be safe and make good decisions. Talk to financial advisors when in question!
Is cryptocurrency controlled by a single mathematical equation that predicts if a coin can prosper or fail? This is the question of the year. According to everything we’ve seen and learned over the past year, cryptocurrency seems to go by a different playbook.
While most of us fear large circulations of coins and uncertain market caps, some coins seem to be immune to the restraints of mathematics. Shiba Inu will be the coin to either prove that circulation and market cap are not treated the same in cryptocurrency or math is math. It is a very telling time for the industry, and it will help bring light to issues that are currently being debated all over Twitter.
With regulators here in the United States researching how cryptocurrency will work in banking systems, you can bet, all of these questions will need answers. One has to wonder how regulators will handle and classify certain cryptocurrencies. Will they post warnings as they do on penny stocks? Will they go back to whitepapers, defi ratings, or will they use another method of vetting?
There’s so much we still have to learn about whitepapers, security, rug pulls, blockchains, and the coding behind the currencies. Shib will tell us if cryptocurrency uses the mathematical rules that a lot of analysts are going by. You know, everyday math! I did a little research, and there are very few colleges that offer a degree in cryptocurrency. Some colleges have classes in blockchain technology, maybe even degrees. However, when it comes to using cryptocurrency in a financial system, I think one came up.
This is somewhat concerning when you have people trying to make rules on something that has no playbook. So, one of the ways we learn is by observing. Hopefully, someone is writing all of these cryptocurrencies and the way they move into a book for a degree program. Can Shib get to one cent? That is the question, and it will be the defining factor in how much we know or still do not know about the land of cryptocurrency.
As always, I am not a financial advisor. I am just a fan of crypto.
I have billions of this little guy and now he’s rising with Shib. So, let’s talk about where you can get into Kishu Inu if you are looking to get in before the billions are too far from your reach. I was able to get 20 billion for like 93 bucks! If you have a few bucks and you are looking to get into the meme side of cryptocurrency, check out sites like Coinmarketcap.com. Their site has a listing of all the crypto coins being offered, and the sites that offer them. They have all the information you need to help you make a healthy decision on your potential investment. Make sure you are going with exchanges that are solid. Check out the comments and get your verification done prior to sending a lot of money over.
I’ve read some messages on boards about certain exchanges holding investors’ money from their crypto earnings due to verification issues. Some exchanges are just horrible and should be avoided. I’ve seen people post about being locked out of their accounts to never seeing deposits hit their accts. I am not going to give you a list of the good, bad, and horrible because it is 1:30 in the morning. Truth be told, I am only up because I’m waiting for my Bitcoin to fully transfer into my other wallet. I have 2 confirmations to go. GOODIE. However, if you go on the site I mentioned, they have a rating system set up to show which exchanges can be trusted.
I like to tell you guys what I’m into, but I am not telling you to copy me by any means. So here is a link to Kishu Inu’s whitepaper. https://kishu.com/whitepaper/KishuInuWhitepaper.pdf and this is the link to their site. https://kishu.com/ ! It isn’t XRP or Bitcoin! Yet, it is a meme coin and we all know everyone likes meme coins. However, if you are looking to create a new meme coin, I have one little request. Can you make the next one a wyvern? Name it something cool, like Icy, okay maybe the sleep is starting to talk out loud. Anyway, if you have any ideas or currency I should look into next, let me know. I love cryptocurrency. Goodnight.
I am not giving financial advice, I am just telling you what I like.