KyleCrypto

u/KyleCrypto



r/CryptoCurrency•

The traditional gaming industry is worth $160 billion USD, with 2.7 billion players globally!

In-game spending by players accounted for the biggest share of the video gaming market in 2020. Globally, gamers spent an approximate $54 billion USD on in-game content in addition to initial game purchases. The market value of in-game purchases is projected to surpass $74.4 billion USD by 2025.

Why is this important for the crypto and NFT world?

Profits are great for gaming companies and their teams, but how about the user? In-game purchases enhance the user experience and bring extra joy to the game: this is currently the main benefit to users. Additional benefits might include flex

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r/BitcoinAUS•

The Staking rewards you receive is taxed as income, when you claim it and you take custody of it.
So claim 100 ADA from stake at $1. Then you have added $100 to your taxable income.
This then becomes your basis cost, or cost of acquisition.

If that ADA then goes to $2 3 months later and you dont sell, no tax change.
If you sell it for $2 3 months later ($100 basis+$100 profit), you pay short term CGT on 50% of the profit so $50 is added to your taxable income.
If you sell it for $2, 2 years later, long term CGT applies, you get a 50% discount on the CGT, so instead of 50% of the profit, you're taxed on 25% of the profit. So $100 basis+$100 profit, 50% discount on 50% CGT on profit.

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