I have no idea how any of this works, but I signed up for updates months ago and this still has my interest.
Because they’re idiots I guess theoretically the current ones get renumbered once that supply is burned though
agreed. I like the simpler aesthetic since we’re racing chickens as opposed to horses but I hope they make some additional updates. And maybe it was bc I was watching a race from my phone but it seemed real slow and the chickens were mostly off the screen until the end. They need to change that
Same on computer. You can't ever see the special talents and there is no point in watching until 20m left
Had some life stuff come up and needed some cash, so I ended up selling one of my two chickens. Got .44eth for it. Still have one more chicken that I can race with.
Just make sure you don't overexert yourself on liquidating considering the potential taxes If you're planning on filing your crypto that is
Smart. I figured as much. I just wanted to be safe because it was just top of mind since I started working on my NFT taxes this week
Appreciate that. Luckily I’m not rolling in cash or crypto that if I was to not report it, I don’t think anyone would come knocking.
I've unfortunately been out of Zed for a while. I have Scoot still but haven't raced her since July. I kept looking for buyers and the market kind of collapsed. No idea what to do but I fucked it up Once they changed breeding it was all downhill
I’m contemplating selling all of my Top Shot moments and just keeping the unopened packs on my account.
Letter of the law. Buy ETH Buy NFT - taxable event Sell NFT - taxable event Sell ETH - taxable event Basically tracking ETH at each price and paying capital gains where appropriate Going to be losing about 35%-40% of my profits but I can't afford to fuck around with the IRS
I stopped for a while to preserve Scoot's value once they changed breeding and removed odds...seems like it was the wrong choice. I have another horse, I'll see. I unfortunately don't have the time to commit to win enough at this point, but I'll take a look
for the selling of the eth taxable event how are you calculating that? Based on the original eth purchase price or based on the difference in eth from when the nft was converted to eth and when it was sold? For simplicity’s sake I’ll use the below values original purchase - eth 1000 eth from nft sale - 1500 selling eth - 1450 so would you mark a gain of 450 or a loss of 50?
My tax guy is super sharp I think and this is how he said it would go: You would have one capital gain of $500 and a separate loss of $50. Now here's the benefit. We are rarely keeping NFTs for years but we could hold ETH for a year. So a reasonable one in my case: Buy $500 in ETH Eth goes up to $1000 Buy $1000 in chickens using that ETH - $500 in short-term capital gains Sell chickens for $10,000 - $9000 in short-term capital gains Hold ETH for a year, it goes to $15,000, sell for USD - $5000 in long-term capital gains
Granted, I wish I could just say "I bought $5000 in ETH in 2020, now I'm withdrawing $30,000 in 2021 after playing with NFTs. This is all $25,000 in long-term gains"
I haven’t sold any NFTs outside of top shot but fuck if that isn’t gonna be a pain in the ass when I do
You can download your TopShot activity as a CSV file. May take a little digging to grab your basis of each moment.
I meant the whole thread. I have a system that is essentially begging for an audit, but it's profitable for me so I keep going for it. But I'm not going to break any rules
Gotcha. My experience with the IRS is that if they think you fucked something up they send you a letter saying you owe $XXX and if you don’t pay it by Y date then they will pursue further action. They don’t have the resources to go after everyone so there is plenty of time before you’d actually get in “legal trouble.”
I'm not too worried about legal trouble, I just don't want to ruffle any feathers on something this important. To be safe I spent the money to hire a gambling specialist tax attorney so I don't expect any problems.
So I bought a Wayne Gretzky DK mystery container at the launch a few weeks ago and opened it today. I am pleased to have found a Sapphire Most Career Points #9/120. Last sale was for $1600
It’s been done. There was second life when they didn’t over mint WNBA but they threw out the goodwill obtained there by making ridiculous fandom challenges. They gave a lot of people $100 free dapper but the last few drops being over produced junk is not helping.
I don't think it's done, but the introduction of +60,000 mint packs is the end of guaranteed +EV base packs it seems. Rare and legendary packs could still be worth it. If you follow the physical sports card world at all, you could argue say it's in a similar spot. Tons of overproduced, readily available junk not worth much, but the rare stuff and "hits" still pull a ton.
This is how they wanted common packs to be: readily available. They’ve got to get the users up and this is how you do it. They are still worth the pack price Min ($9) due to trade tickets.
Just got the email that NFL All Day closed beta starts soon. Spoiler It’s almost closed beta SZN! We want to prime you with the deets in case you’re one of the select few granted access. Plus, if you’re not selected initially, you’ll have additional chances to be granted access if you’re on the waitlist! NOTE: Those selected to participate in closed beta will be chosen based on a variety of factors in their Dapper activity, not solely on total spend. Closed Beta #GOALS Testing the product. In order to craft the best possible experience we need you there and testing out our product. Feedback. Our goal is quality and to improve every week. Help us make it happen! Ripping. Packs. There’s nothingquite like ripping a pack! Heads-up: being part of the closed beta means you get first access to packs, but not exclusive access to packs. No more than 50% of the packs that will ultimately become available from the weeks corresponding with closed beta will be released during closed beta. All content released in closed beta will have reserves that are made available in an open beta period to the general public. All Moments from the weeks before closed beta begins will be distributed during open beta as well. We’re excited to take this journey with you as we build the future of NFL fandom, and grow the community surrounding it. Stay tuned for more details….and don't forget to share your referral link with your friends.