Do I get taxed/have to fill out taxes for Crypto liquidation on an exchange site and transferring Crypto between my accounts?

Location: U.S. California

The thread I made here explains the context: https://old.reddit.com/r/Bitcoin/comments/16pffie/noob_that_needs_help_with_coinbase_from_other/

But basically 3 months ago I signed up for a Coinbase account but never provided ID verification, so I was only able to buy Crypto from them but couldn’t do anything with that Crypto, as far as I know this is not considered a taxable event (hence the lack of need for an ID)

My dad accidentally issued a chargeback (which we got resolved, it was a mistake on both our parts) but now I owe Coinbase $1.70 and I have to pay up in 2 days or they’ll liquidate whatever Crypto I’m currently holding in my account to cover the costs, so my questions are:

1. I know simply buying crypto off an exchange and not doing anything with it isn’t a taxable event, but selling that crypto certainty is. If Coinbase sells off any crypto on my account to cover my costs does that count as a taxable on my end or theirs? I wouldn’t be the one actually doing the selling, it would be Coinbase in this case, and from what I heard until I get my actual “cold” wallet to where I can store my crypto, “if it’s not your keys, not your crypto” so technically that crypto isn’t even mine to begin with and I was simply borrowing from Coinbase all along?

2. Is trading between your own accounts considered a taxable event? Because my Coinbase account is currently restricted from buying crypto, say I buy some crypto on my PayPal to cover the costs I owe Coinbase, I then send that crypto over to my Coinbase account/address so that Coinbase has funds to take out of my account to reimburse themselves after the 5 days are up if I have no method of paying directly (due to lack of ID verification and Coinbase apparently not taking debit cards for this). Does this count as a “trade” and is taxable? Or is it only taxable if you’re sending and receiving crypto from another person, not yourself? This is more-so just a transferring of your funds and therefore isn’t taxable correct?

FWIW, I am unemployed and an currently dependent on/being supported by my parents despite being 31.

US stocks down in 2022 with more than $7 trillion

US stocks down in 2022 , stocks in the S&P 500 index lost more than $7 trillion in market value in 2022.

Who got the money? Where is the money? did the American Governments just burned it? or getting ready for the USD Crypto coin?

ChatGPT Explanation :

In 2022, large-cap stocks in the S&P 500 index experienced a significant decline, resulting in a loss of more than $7 trillion in market value. This decline can be attributed to various factors including economic conditions, geopolitical events, and market sentiment.

When stocks lose value, it doesn't mean the money has disappeared. Instead, it has been redistributed among various market participants. Some investors may have sold their stocks at a profit before the decline, while others may have incurred losses.

The money is not "burned" or destroyed; rather, it has changed hands. For example, if Investor A sells their stock to Investor B at a lower price than they bought it for, Investor A incurs a loss while Investor B gains. The overall wealth in the market remains the same, but it's distributed differently.

As for the idea of a USD Crypto coin, as of my last knowledge update in September 2021, there were discussions and experiments with central bank digital currencies (CBDCs) in various countries, including the United States. A CBDC is a digital form of a country's currency issued and regulated by the central bank. It's important to note that a CBDC is not the same as a cryptocurrency like Bitcoin, as it would be centralized and likely operate on a different technological framework.

However, the actual implementation of a USD Crypto coin or any significant change in monetary policy would depend on various economic, political, and regulatory considerations

" it has been redistributed among various market participants. " any better idea?

Bitcoin and Ethereum: Tight Range and Technical Analysis

Bitcoin (BTC) and Ethereum (ETH), the stalwarts of the cryptocurrency world, are currently exhibiting minimal fluctuations, hovering around $26,500 and $1,600, respectively. This narrow trading range of about 1% could be a precursor to a breakout, and investors are closely monitoring each movement.

However, a glance at the Fear & Greed Index shows neutrality, indicating indecision among investors. This could be a significant factor contributing to the current neutral trading sentiment in the crypto market.

Bitcoin Price Analysis:

Bitcoin is currently priced at $26,557, with a 24-hour trading volume of $10 billion. It has experienced a slight decline of 0.31% in the past 24 hours but retains its top position on CoinMarketCap, boasting a market capitalization of approximately $517.69 billion. The circulating supply stands at 19,493,312 BTC, nearing its maximum limit of 21,000,000 BTC.

From a technical perspective, Bitcoin has shown increased sensitivity to market dynamics. It recently broke through the critical support level of $26,600, which had previously acted as a resistance point. This level has now gained significance as a strong support zone for Bitcoin, especially on the 4-hour chart.

In the event of further decline, the next support target for Bitcoin could be around $26,300. On the flip side, if Bitcoin manages to break the $27,000 threshold, it could head towards $27,500. The $27,000 level, backed by the 50-day average, is a crucial pivot point guiding Bitcoin's future direction.

Ethereum Price Analysis:

Ethereum is currently trading at $1,593, with a 24-hour trading volume of $3 billion. It has seen a minor increase of just under 0.10% in the past 24 hours. Ethereum maintains its second-place ranking on CoinMarketCap, with a market capitalization of $191 million. The circulating supply is 120,227,075 ETH, while the maximum supply remains undisclosed.

The ETH/USD pair is exhibiting a turbulent trading pattern, facing resistance at $1,600 and support around $1,575. A breakout from this range could trigger significant price movements. If Ethereum breaches the $1,600 threshold, it may encounter resistance at around $1,625, with a more formidable barrier near the double-top pattern at approximately $1,660.

Conversely, a bearish move below $1,575 could lead Ethereum's price toward $1,535. Technical indicators like the 50-day EMA, RSI, and MACD all lean toward a bearish sentiment, as indicated in the accompanying chart.

Investors should keep a close eye on the $1,575 level, as a downward break could open up further selling opportunities.

Stay tuned with Quickex for more updates on the crypto market's dynamics. 📊💹🚀

Synergy of Crypto and Sports, Reflections on Bitcoin’s Possible Collapse, and Crypto Events of Late September

🔥 Here’s a digest of our hottest content. How the sports industry interacts with cryptocurrencies and Web3, under what conditions Bitcoin may depreciate, and what crypto events to attend at the end of September. Read more at the website: https://coinspaidmedia.com/news/cryptocurrency-and-sports-bitcoins-potential-collapse-and-crypto-events/

The Definitive List of Onyx Gemstone Refractors in CURRENCY Series 1 by Cardsmiths as of September 23, 2023

The Definitive List of Onyx Gemstone Refractors in CURRENCY Series 1 by Cardsmiths as of September 23, 2023 that have been pulled, captured, and uploaded as a photo, screenshot, etc.: 34 out of 73 discovered!

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Card #1 Bitcoin

Card #1A Bitcoin

Card #2 Satoshi

Card #3 Litecoin

Card #4 Ethereum

Card #5 Dogecoin

Card #6 The Saylor

Card #7 Nikola Tesla

Card #8 Pythagoras

Card #9 Bitcoin

Card #10 Bitcoin

Card #11 Vitalik

Card #12 Mt. Gox

Card #13 Charlie Lee

Card #14 Ethereum

Card #15 Charles Babbage

Card #16 Antikythera Mechanism

Card #17 Ada Lovelace

Card #18 Satoshi

Card #19 May 22nd

Card #20 Rocket

Card #21 HODL

Card #22 Stock to Flow

Card #23 Lambo

Card #24 The Moon

Card #25 Tulips

Card #26 Fiat

Card #27 Ancient Drachma

Card #28 Elon Musk (Welcome to Mars)

Card #28A Elon Musk (Nuke Mars)

Card #29 Gold

Card #30 Silver

Card #31 Platinum

Card #32 Satoshi

Card #33 Camel

Card #34 The Bank

Card #35 Whale

Card #36 Miner

Card #37 The Halving

Card #38 Token

Card #39 Peer-to-Peer

Card #40 Tally Sticks

Card #41 Abraham Lincoln

Card #42 King George III

Card #43 Alexander Hamilton

Card #44 Bitconnect

Card #45 Bitcoin

Card #46 Ethereum

Card #47 White Paper

Card #48 Red Pill

Card #49 Bagholders

Card #50 Rekt

Card #51 Bitcoin

Card #52 Dogecoin

Card #53 Litecoin

Card #54 Shitcoins

Card #55 MMT

Card #56 NFT

Card #57 Salvator Mundi

Card #58 Satoshi

Card #59 Bitcoin

Card #60 Bitcoin

Card #MR1 Bitcoin

Card #MR2 Dogecoin

Card #MR3 Dogecoin

Card #MR4 Cardano

Card #MR4A Cardano

Card #MR5 Satoshi

Card #MR6 Dogecoin

Card #MR6A Dogecoin

Card #MR7 Ethereum

Card #MR7A Ethereum

Card #MR8 Year of the Ox

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Fun facts

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1) As of August 7, 2023, Cardsmiths confirmed that PSA Collectibles Authentication and Grading Service will be grading Diamond gemstone refractors (1/1) correctly instead of mistakenly labeling them as Onyx: https://twitter.com/CARDSMITHS_/status/1688538950690885632?t=TH11ur-3Qg8G1CuqfjJckg&s=19

2) The company Gamestop was founded in Dallas in 1984 as Babbage's (Card #15 Charles Babbage), and it took on the name Gamestop in 1999. It will be rebranded in 2023 as Teddy, a conglomerate in the vein of Berkshire Hathaway or Icahn Enterprises.

3) The Gamestop NFT Marketplace (Card #56 NFT) is built upon the foundation of the Ethereum (Card #46 Ethereum) blockchain network.

4) GameStop chose Loopring, a companion system to the Ethereum network, to power its NFT marketplace because of its scalability and cheaper transaction fees, which typically cost less than a cent. Loopring's motto is "be your own bank" (Card #34 The Bank): https://twitter.com/loopringorg/status/1481344326571630593?lang=en

5) A popular conspiracy theory is that Bitcoin could have been a gift from aliens and extraterrestrials (Card #MR5 Satoshi): https://finance.yahoo.com/news/aliens-exist-cryptocurrency-182610042.html

6) Gamestop Apes bought up time via billboards alongside highways, in Times Square in New York City, and at many other locations in America; these billboards displayed bullish (Card #MR8 Year of the Ox) sentiments about Gamestop stock and featured rockets (Card #20 Rocket), moons (Card #24 The Moon), and diamond hands (Card #21 HODL): https://www.wsj.com/articles/gamestop-dogecoin-move-off-the-internetto-highway-billboards-11612970381

7) A popular sentiment amongst Gamestop (GME) and Bed Bath & Beyond apes (BBBYQ) is "Lambos or food stamps" (Card #23 Lambo), which means they aim to HODL their stocks until they attain generational wealth or homelessness.

8) Whale sightings (Card #35 Whale): https://ibb.co/ZJmK0Xp

9) A bagholder (Card #49 Bagholders) who's about to get fucking rekt (Card #50 Rekt): https://ibb.co/ZTkzVdP

10) Peruvian Bull (Card #45 Bitcoin), one of the few on X whose posts Ryan Cohen has liked, believes there are only two currencies with infinite value: Bitcoin (Card #1 Bitcoin) and GME:

https://twitter.com/peruvian_bull/status/1598016314198880258?t=X-d0l2-SWCNZUKYXLMK6yg&s=19

Peruvian Bull (in The Dollar Endgame: Hyperinflation Is Coming) said, "Fiat systems (Card #26 Fiat) demand ever increasing debt, and ever increasing money printing, until the illusion breaks and the flood of liquidity is finally released into the real economy. This hyperbolic growth is indicative of a key underlying feature of the fiat money system: virtually all money is credit. Thus, any fiat money banking system MUST grow money supply at a compounding interest rate, forever, in order to remain stable. Financial and Real economies merge in one final crescendo that dooms the currency to die, as all fiats must. To most citizens living in the West, the concept of a collapsing fiat currency seems alien, unfathomable even. They regard it as an unfortunate event reserved only for those wretched souls unlucky enough to reside in third world countries or under brutal dictatorships. However, the annals of history spin a different tale--in fact, an eventual collapse of fiat currency is the norm, not the exception. The average lifespan for a pure fiat currency is only 27 years--significantly shorter than a human life. No fiat currency dies without severe pain inflicted on the masses, most of which are uneducated about the true nature of economics and money.

11) Gamestop made the unfortunate mistake of briefly partnering with FTX, a hellscape filled with all shitcoins (Card #54 Shitcoins) likely used for financial crimes involving abusive or naked short selling via tokenized securities (Card #38 Token) of GME, swap transactions (that allow disguising of short interest, etc.), and other complex financial instruments (source: reddit user swede_child_of_mine). Luckily, nothing ever came to fruition as a result of the partnership besides offering FTX gift cards at Gamestop stores for a very short amount of time, and anyone who ever bought cryptocurrency at FTX utilizing these gift cards were promptly refunded by Gamestop . . . a company that strives to delight its customers.

12) When civilians take the red pill (Card #48 Red Pill) in order to become apes, they may discover that almost all stocks in the US (~80%) are held by DTC, owned in the name of its partnership nominee (Cede and Company or Cede & Co.), and may be lent by a brokerage (stockbroker) to cover trading activity such as short sales. Concordantly, apes may decide to direct-register their stocks to a transfer agent to own them in their name, take back all their shareholder rights, and put an end to abusive or predatory naked short selling!