# Why Beeple sold all his ETH

> And you should too

**Published by:** [Nahiko's Bookmarks](https://paragraph.com/@nahiko/)
**Published on:** 2024-08-04
**URL:** https://paragraph.com/@nahiko/bookmarked-20

## Content

Hello friends, I know, I know, this week's newsletter was supposed to be a "how to migrate to Arweave in 90 seconds" tutorial. Life is hectic. Balancing everything—family, work, and creating content—is challenging. With only 24 hours in a day, it's tough. But I'm doing my best to bring you amazing tutorials and tools (Let me know if you wanna be a beta tester). For now, enjoy this newsletter; it will save you a lot of headaches.How everything startedIn 2021, @beeple made headlines with a $69M (~ETH42,000) NFT sale. Then he cashed out. Some felt confused or scammed: sassal.eth/acc 🦇🔊 @sassal0x Beeple rugged us like a 2017 ICO scam 537 15:50 • 24 Mar 2021 but he had to do it... No matter where you live:selling something = owing taxes to the gov (like VAT or capital gains)And be careful, because this can shatter your dreams.A true storyOne of my friends made $350,000 in 2021 from a big project, and kept everything in crypto. The guy is a true degen 👑 Still, he later consulted an accountant. The news was devastating: He owed $200,000 but didn't have the money. What happened ? Well, after selling his project, ETH plummeted BIG TIME. He sold for $350k but now only had ~$100k ! In some countries, taxes are based on the value at the time of selling. So, if you sell for a million and ETH crashes to zero, you still owe taxes on that million. How crazy is that? Beeple's $69M sale could've been a disaster. Sure, ETH went up, but would you have bet $69,000,000 on that? Let's say he owes half to the gov, and ETH drops 50%, he's broke. The headlines would have been different: He sold for $69M but goes bankrupt ?! If you think "well if it fluctuates but not that much right?" Look again 👇 I'm not telling you to always withdraw your sales (even though I do). This isn’t financial advice, of course your situation depends on local law. But if the government takes 30%, plan for it. maybe withdraw 30% or use stablecoins to reduce risk. Tools like 0xSplits can help you automate this. (let me know in the comments if you want a tutorial on how to use Splits for taxes)I kept my bookmarks for my faithful subscribers only (thank you for the support <3)📖 Art Storytime Cozomo de’ Medici @CozomoMedici We almost never think about it, but there is a reason galleries hang art the way they do. Early on, art was hung "salon style" - pressed together and stacked floor to ceiling. But 161 years ago, it all changed, when 3,000 artists clashed with the President of France... 2,105 18:53 • 29 Jul 2024 👬 The Best AI approach ? Avi @AviSchiffmann introducing friend. not imaginary. order now at friend.com 12.8K 15:56 • 30 Jul 2024 👬💀 Bitclout charged by SEC Nahiko @Nahiiko You guys remember when I logged into Bitclout as @elonmusk ? Look at the insane amount of notifications the guy was getting. U.S. Securities and Exchange Commission @SECGov Today we charged Nader Al-Naji with perpetrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform called BitClout and its native token of the same name. 0 11:45 • 4 Aug 2024 The winner of last week's contest is @NFTmaki, who wins a "The Price is Almost Right" NFT (worth $170): Sidewayz @NFTmaki Just make sure your art survives longer than a Solana memecoin. 0 15:29 • 30 Jul 2024 See you next week ✌NahikoIf you enjoyed this marketing idea, please tap the Share button below ❤ Thank you!Share on TwitterI share 1 new thing I learned in the NFT space, every week ✨ Don’t miss the next one:Subscribe

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