Quote:
Originally Posted by Chung Tran
Damn!
If I was in your position (thankfully I'm not), and assuming you can use the tax loss.. That is, you don't have an existing, significant tax loss carryover now. I would sell at least half the position, then buy it back right away. Because Crypco is not considered, as of now, to be a ''security'', only a Capital Asset. Thus the wash sale rule does not apply. That is the singular thing crypco has going for it. I'm hard-pressed to find more than that.
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I love the position I’m in and I firmly believe anyone who sold will seriously regret that a year from now. I’ve transitioned 75% of my portfolio into crypto, blockchain, and 6 BTC miners. Even if I were to lose all 75%, I can still retire and live like a god in Thailand on Social security (I’m maxed) and the other 25%. I was lucky enough to get into 3 regulation A’s, one of which IPO’d a month ago. Big gains require big risk. Crypto is not for the faint investor.