Bitcoin, the biggest gamble?

Kroffe

เ๓ ค Ŧคภςץ ๒єคг
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Oh ya, the other day $68 billion dollars were traded in it and it is crashing the crypto sites, I had to try myself a few times to buy. That amount to put in perspective you can buy NIO, CCIV the 2 e.v. companies that are making cars, and BNGO a company that I was invested in, you could have bought 100 percent of all 3 companies with the $68 billion!
Talk words that make sense.
How many 9p spins on Doa are we talking here?
 

slotmaster

Paleo Meister (means really, really old)
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Ontario
I used the funds from the BTC fork (BCH) and bought 78000 Cardano (ADA) @.059USD but dumped it after it went up a little. That $4602.00 investment is worth $100k now.
Was watching one of the top stock guys on youtube, he mined DOGE years ago and had $500 invested and he forgot about it until this past week, He now has thousands of dollars in that account he found out,lol. Totally forgot he had that wallet with crypto:eek2:
 

slotplayer

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Now that coinbase went public, they've been running tv commercials.

The IRS is running something called operation hidden treasure. With governments spending a boat load on covid and world economies trashed I expect they'll be looking for money where ever they can.


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Slottery

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Now that coinbase went public, they've been running tv commercials.

The IRS is running something called operation hidden treasure. With governments spending a boat load on covid and world economies trashed I expect they'll be looking for money where ever they can.


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That's quite an amount of capital gain many people have got last tax year, would be quite sure that taxes paid are not matching to real capital gains, based on that article, US tax rules are quite clear. Will be not that funny surprise for some if they start to ask information from exchanges like Coinbase who have KYC:d their customers and know exactly what has happened on their accounts.

If you have earned a profit from the sale of virtual currency and have not reported it on your tax return, you should
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to determine the best way to come into compliance before being targeted by Operation Hidden Treasure.

Note: Cryptocurrency trades of non like coins are currently taxable in the calendar year they occur even if no fiat changed hands. I.E., trade of 5 bitcoin purchased for $20 in total for 3 alt valued at $40 in total results in a $20 capital gain. If held for less than a year this ordinary income, if held for over a year, long term capital gain. Code section 1031 does not apply!
 

sufferinsilence

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Belgium
Well, DOGE hit an alltime high again today and is still at €0.34 when I write this. Wonder if this is the push to $/€1 whilst most other coins seem to be struggling after the coinbase thing.
 

geordiecolin

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Well, DOGE hit an alltime high again today and is still at €0.34 when I write this. Wonder if this is the push to $/€1 whilst most other coins seem to be struggling after the coinbase thing.
I hope that your keeping an good eye on it and decide at some point to take out at least double your capital then switch it to bitcoin or take it all out as soon as it goes down more than just a blip. Its not much more than a meme :)

Edit. He is worth following

 

sufferinsilence

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I hope that your keeping an good eye on it and decide at some point to take out at least double your capital then switch it to bitcoin or take it all out as soon as it goes down more than just a blip. Its not much more than a meme :)

Edit. He is worth following


I would definitely not buy it right now, the best you can do is double your money in my not very educated opinion. Hope it goes to $1 and then sell most of it. I've already taken my initial stake out last week after it boomed the first time.

But keep in mind I'm talking a couple of hundred € invested in 4 different coins and not gambling on 1 coin or trading. Most of my money was invested in BTC and ETH for the longer haul.
 

geordiecolin

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I would definitely not buy it right now, the best you can do is double your money in my not very educated opinion. Hope it goes to $1 and then sell most of it. I've already taken my initial stake out last week after it boomed the first time.

But keep in mind I'm talking a couple of hundred € invested in 4 different coins and not gambling on 1 coin or trading. Most of my money was invested in BTC and ETH for the longer haul.
Good luck with your investments :)
 

geordiecolin

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PABnononaccred
CAG
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Well, DOGE hit an alltime high again today and is still at €0.34 when I write this. Wonder if this is the push to $/€1 whilst most other coins seem to be struggling after the coinbase thing.
One thing I must say is that the real people that could give you the best advice on investing in bite coin type investments are behind it all are the very same people that you have shown your utter detestment towards over the last year or more.
Are you happy with that?
Edit. And I did not mean the last link that I provided in this thread :)
 

sufferinsilence

Senior Member
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Location
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One thing I must say is that the real people that could give you the best advice on investing in bite coin type investments are behind it all are the very same people that you have shown your utter detestment towards over the last year or more.
Are you happy with that?
Edit. And I did not mean the last link that I provided in this thread :)

It doesn't mean because I disagree with someone on their political views that I don't agree with them or take advice on other points.
 

slotplayer

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webmeister
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Oct 11, 2006
Location
USA
That's quite an amount of capital gain many people have got last tax year, would be quite sure that taxes paid are not matching to real capital gains, based on that article, US tax rules are quite clear. Will be not that funny surprise for some if they start to ask information from exchanges like Coinbase who have KYC:d their customers and know exactly what has happened on their accounts.

Coinbase has already been submitting transaction data to the IRS on form 1099-K for large trades for a few years now, but I read coinbase is switching to a 1099-MISC in 2020.

In 2017 I paid 32% on the capital gains from day trading, 20% to the Federal Government and 12% to my state. The capital gains percentage varies from state to state.

However, its all changing to $600 now so the ebay and paypal sellers are now on the hook. My state has always been $600 so even if you won $600+ on lotto ticket you'd have to pay taxes on it. The way it works is the store cashier would cash any winnings up to $599 but over that required a trip to lottery headquarters.

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slotmaster

Paleo Meister (means really, really old)
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DOGE day did not work out for the masses, Hope you're still doing o.k. @sufferinsilence. I saw the downtrend and I got out still with some profits. Same with stocks mostly gotten out except for 2 companies at the moment. I need a break from it a bit and I am going to use this as an opportunity just to regroup kind of thing.

I Will keep an eye on things still and see if things start to swing the other way.
 

sufferinsilence

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DOGE day did not work out for the masses, Hope you're still doing o.k. @sufferinsilence. I saw the downtrend and I got out still with some profits. Same with stocks mostly gotten out except for 2 companies at the moment. I need a break from it a bit and I am going to use this as an opportunity just to regroup kind of thing.

I Will keep an eye on things still and see if things start to swing the other way.

With ETH rising significantly and BTC regrouping a bit the DOGE drop isn't that bad. Still just holding on to profit from when I bought at €0.04. Investment is safe and secure and like I mentioned before it's not that much money anyway :thumbsup:
 
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