HBARMY HQ - Everything About HBAR Here - Q&A Articles Information - Open to Everyone to Post

[Jayhacker]

Yeah, just trying to figure out what's going to be the best way to do this. On the conversion side of things, where does that cost go? It should be on the sale of the BTC in the example above right? So for instance:

Buy 0.1 BTC at 50, for a net 5k of BTC
Sell on Exodus as part of conversion.

If I sold it at less than 5k total value, there's no gain.

Or, say the value of BTC went up to 55k, so I then had 5.5k to sell.
If my initial fee to buy on Coinbase was $20 for example.
The transfer cost to get into HBAR is 3%, or $165.
So I would have a net gain of 500 - 20 - 165, or $315.

Is that the general idea of how you'd have to track this through the process?

And is it necessary to report purchases if you haven't sold anything? My accountant says no

 

[Rusty Student]

Yeah, just trying to figure out what's going to be the best way to do this. On the conversion side of things, where does that cost go? It should be on the sale of the BTC in the example above right? So for instance:

Buy 0.1 BTC at 50, for a net 5k of BTC
Sell on Exodus as part of conversion.

If I sold it at less than 5k total value, there's no gain. But there is a capital loss you should report on your tax return.

Or, say the value of BTC went up to 55k, so I then had 5.5k to sell.
If my initial fee to buy on Coinbase was $20 for example.
The transfer cost to get into HBAR is 3%, or $165.
So I would have a net gain of 500 - 20 - 165, or $315. Correct

Is that the general idea of how you'd have to track this through the process? Yes, this is how I understand it.

And is it necessary to report purchases if you haven't sold anything? No. But you will want to keep the data on purchases somewhere because you will need it eventually when you decide to sell.

 

[LVRebel]

Weird, but the site isn't letting me reply to Rusty's statement, or even quote it. Either way, I'll just copy and paste:

In response to my question: "And is it necessary to report purchases if you haven't sold anything?"

Rusty said "No. But you will want to keep the data on purchases somewhere because you will need it eventually when you decide to sell."

That's going to be the tricky part I suppose, depending on how many transfers or sells you have. I'm not planning on selling a lot of my current shares at the moment, but am planning to hold for a while. Unfortunately, in my first year here, I probably did a little too much buy/sell/convert deals.

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

Got an Etoro Listing

 

[MortgageHorn]

 

[VosFrost]

Where our HBARs go???

 

[Edgehollow]

I'm steady buying. I'm also sitting on 100 shares of ADA to put into TFSF staking when that starts. There's a younger guy on YouTube that is really bullish on HBAR. He says there's some 2nd quarter 2022 upgrades that should start seeing it take off.

I don't have @MortgageHorn money in it...yet. But, I'm working on it.

 

[MortgageHorn]

Probably Nothing

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

 

[EXECFRT]

This doesn't mean we can now buy HBAR on Coinbase does it?

 

[LVRebel]

This doesn't mean we can now buy HBAR on Coinbase does it?

Not yet

 

[MortgageHorn]

 

[MortgageHorn]

 

[Juro]

Can’t let HBAR thread slow down. Buy more. To the moon!

 

[VosFrost]

Where my HBARS GO?

 

[fliptide]

We still expecting upward movement in 2022?
At this point I would be good with it getting back up to hovering around $0.30 (my average price)
Is Brandon gonna f this up too? Hopefully it is more like Can't stop what is coming!

 

[Edgehollow]

I've held off on buying as I'm cash flowing a basement...but as soon as that's done I'll be back on the train. Hoping it stays around .19-.21 a few more weeks.

 

[VosFrost]

Disappointing how much crypto followed the market instead of being a nice hedge

 

[shiv]

Disappointing how much crypto followed the market instead of being a nice hedge

This has bottled my mind the last few years

 

[TTUcamper]

Disappointing how much crypto followed the market instead of being a nice hedge

Actually not surprising imo. It's a speculative asset until the dollar starts fail, then it's usefulness kicks in

 

[EXECFRT]

Any opinions on RVN around here? Guy asked me about it yesterday. Just curious if anyone knew anything on it

 

[Juro]

Bought a little more of HBAR today.

 

[ChicagoFats]

Bought a little more of HBAR today.

What price is Hbar trading now?

 

[LVRebel]

What price is Hbar trading now?

$0.22 currently.

 

[LVRebel]

Been hovering between 0.19 and 0.24 for the past month.

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

 

[MortgageHorn]

 

[VosFrost]

A lot of focus on BTC and it’s environmental impact.

While I think it’s all BS, HBAR should keep pushing its carbon neutral, clean footprint.

 

[MortgageHorn]

 

[MortgageHorn]

 

[TTUcamper]

You got any thoughts on where you think this goes?

10 bucks seems like a pipe dream, although possible.

 

[MortgageHorn]

You got any thoughts on where you think this goes?

10 bucks seems like a pipe dream, although possible.

This Go Round $3-$6