Hive Power Taxable?
What do we know, moving forward? Do we continue to stack our coins or do we start powering down? Who knows right? When do we start powering down when it reaches $5 or when it reaches $10 we don’t know, but what I do know about my situation is setting a goal and a percentage of your holdings that you want to withdraw and take profits because at the current moment the only way for us to take any profits is to cash out into fiat... and if your like me and you live in the United States... in California more specifically you cashing out into fiat makes you eligible to pay capital gains taxes... 🤔 maybe.
Looking at it this way when is it the most profitable to cash out let’s talk about hive couple of times I’ve seen some people talk about taxes and about the Hive power and liquid hive what is taxable what is income and is ours to claim?
Are pending rewards already our income or as soon as they hit or wallet is it our income or is it our income as soon as we cash it out because if you power up hive is that an investment of itself and is that countable as capital gains if you cash out all I know is at the current state the only way you’ll get taxed is if you go from hive to fiat.
And so in conclusion the hive power that we have is not ours unless we Power it all down to 100% and take it does that make sense or am I going to far into it?
Don’t mind me, just some medicated thoughts on the matter.
