This is gonna be my last comment on ETH2 staking. Since many ppl have attacked me after projecting a position that I never actually argued for (incl. some nasty PMs - tyvm) I will clarify what I do and don't think:
https://twitter.com/pintail_xyz/status/1333584655832944640
1) I *don't* think locking ETH in the deposit contract necessarily constitutes a sale. I won‘t be shocked if the IRS argues that it does. But I sure as hell would first try to convince them of the opposite
https://twitter.com/hasufl/status/1333556912412119040?s=20
2) There will be two versions of ETH on most exchanges (ETH + stakedETH, ETH2, beaconETH, whatever you want to call it). There will be many versions of ETH in the market as a whole.
3) If you receive such a liquid staking token, that is most likely a tax event.
And that's it.
3) If you receive such a liquid staking token, that is most likely a tax event.
And that's it.
Oh and a last one for good measure since it's actually at the root of what bothers me:
4) The beacon chain should have never been launched. Not as a one-way bridge and with no functionality. It creates way more problems than it solves.
4) The beacon chain should have never been launched. Not as a one-way bridge and with no functionality. It creates way more problems than it solves.
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