Dad. Husband. Math teacher. Runner. Amateur writer. Fisherman. Mediocre guitar player and volleyball player.
We need a new cultural enlightenment. I want to be a part of it.
I started learning about bitcoin in 2021 and learned this lesson while hanging out in bitcoin rooms on Clubhouse. Clubhouse was kind of a flash in the pan but it came at the right time for me because I learned a ton.
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My vehicle is on its way out I think. For the last few years every 5k has resulted in a $1000 to $1500 repair. It needs another one now. So Iβm considering unloading it. Money is tight and a large car payment isnβt something we can really do right now. Iβve considered selling some btc to offset some of the cost. Without going into too many details, Iβm looking for advice or perspectives on a couple things.
One, selling seems to be a pain from a tax perspective in terms of computing the gains on the btc I sell. Has anyone gone through this? I donβt have much, but what I have is on cold storage. So I would have to sign up for an exchange and sell it there?
Is this stupid? Should I just avoid this at all costs?