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https://warpcast.com/~/channel/confessions
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Suffuze
@suffuze.eth
Every time tax season comes around I fantasise about quitting crypto. https://media.tenor.com/1TpJP40pB5oAAAAC/patrickpain-patricksomuchpain
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EinBard
@einbard
Sometimes I think it’s not worth the trouble. Last year proved that for me.
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Suffuze
@suffuze.eth
Crypto or taxes? Lol
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EinBard
@einbard
crypto and the resulting losses and taxes
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Suffuze
@suffuze.eth
Dang even with those Degen drops you came out negative? I feel you though, I ignored my instincts last year and kept holding stuff into oblivion. Believed too much in my bags even though I knew normies weren't coming and everyone was more focused on short term pumps than actual builders or fundamentals, but I digress.
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EinBard
@einbard
The airdrops are considered ordinary income priced at the time of the drop. Degen has since dropped more than 80% and i still hold pretty much all of it.
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Suffuze
@suffuze.eth
Yep. Damn, balls of steel 😅 I was too nervous to hold degen at 1B fdv but I rotated most of it into other stuff that tanked pretty hard so I'm not too far off. Tried to keep the taxable portion of most of my airdrops in ETH for some degree of stability with upside, but we'll see how much pain I'm in when I finish taxes😢
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EinBard
@einbard
i held because i want to escape the wage cage but just didn't turn out. I'm left with a bunch of shitcoins, lol. It's too late to sell at this point so i'm going down with the ship.
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Suffuze
@suffuze.eth
Yeah it's tough.. only way to hit a 100x-1000x is to "believe" but sadly we have to endure this kind of pain to even have a chance at that 😅 Just gotta take "some" profits while you can but still leave room for a moonbag i guess
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