Bitcoin, the biggest gamble?

[sufferinsilence]

But lots of attention and even saw there is going to be a t.v. commercial about it, even the top stock guys are all saying it is going to go to $1.00.

All aboard the hype train! LOL

If it was to go to $1 even my small investment would get interesting

 

[Kroffe]

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]

Talk words that make sense.
How many 9p spins on Doa are we talking here?

6 billion 120 million spins if I did the math right which I am not sure if I did,lol.

 

[slotplayer]

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.

 

[mack341]

6 billion 120 million spins if I did the math right which I am not sure if I did,lol.

Should be enough to see you get at least a few bonuses with +5 spins

 

[slotmaster]

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

 

[slotplayer]

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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[Kroffe]

6 billion 120 million spins if I did the math right which I am not sure if I did,lol.

So enough for two 2-3 sessions then.
Neat.
=)

 

[Slottery]

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!

 

[slotmaster]

Doge! How did everyone like waking up to that increase?

 

[sufferinsilence]

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]

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]

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]

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]

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]

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]

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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[slotplayer]

Well I'm back in the crypto game, I bought some EOS for a long term play. We'll see where it is in a few years.

 

[slotmaster]

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]

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

 

[geordiecolin]

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.

For anyone thinking about getting involved

 

[mack341]

I think the world of crypto currency investment videos could suit a certain, renowned casino philosopher

 

[Kroffe]

I think the world of crypto currency investment videos could suit a certain, renowned casino philosopher

I think ill stick to my pretend 9p Doa stream, but thanks for the shout-out.

 

[slotplayer]

Nice little sell off. Thanks Joe

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Buying opportunity?

 

[SlotMonster]

Nice little sell off. Thanks Joe

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Buying opportunity?

I would say, yes. Quite intersting, how it looks on the graphs tied to halvings.

 

[slotmaster]

I would say yes as well, but just read an article that this is the pullback for the rush to $100,000 price. Now multiple top people are saying it could go to $500,000 and after that, they could see 1 million per coin but this is years away.

 

[SlotMonster]

I would say yes as well, but just read an article that this is the pullback for the rush to $100,000 price. Now multiple top people are saying it could go to $500,000 and after that, they could see 1 million per coin but this is years away.

I mil I would say we will see after the next halving, at the end of 2024 - middle of 2025.

Also, if you haven't heard about Stock to Flow price model, I strongle recommend you to read about it.

 

[GordonotRamsay]

Well bitcoin is not much of a gamble but more of a win. The recent stats by the coin has really shown us that there is more to expect from each crypto out there since that they continue to put up some huge numbers.

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has been keeping track of its run for 2021 and they really did a great job of putting up some fine numbers that would keep it relevant for more than five years. This is why investing on crypto especially bitcoin is a win rather than a gamble. That proves my point from here on out.

 

[mack341]

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Well-known risk analyst and “Black Swan” author Nassim Nicholas Taleb seemingly changed his previously positive attitude toward Bitcoin, calling it a “gimmick” and an “open Ponzi scheme” during an interview with

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yesterday.

A Ponzi (pyramid) scheme, named after its creator Charles Ponzi, is a method of fraud where malicious actors are siphoning funds out of unsuspecting victims by promising them great returns. Simultaneously, crooks rely on inflows of “fresh blood” into their scheme to actually pay some amounts of cash to previous investors—in exchange for bringing in new ones.

In this light, Bitcoin can indeed be perceived as a global, decentralized Ponzi scheme that doesn’t even have any specific organizers behind it. As it stands, most people buy Bitcoin expecting its price to grow—and that is only possible when new people start buying the crypto. This creates a perpetual cycle of price appreciation where early investors essentially get rewarded when new people buy the asset at increased prices.

Speaking to CNBC, however, Taleb explained that an asset whose price can easily move by 20% or more in a month “cannot be a currency. It’s something else.”

 

[neon claws]

Yep, most people don't even try to pretend it's a currency or a way to "fight the power" anymore, it's now unashamedly the world's biggest Ponzi so you better get in while the getting's good- there's an almost unlimited supply of rubes that will keep dumping their life savings into it.
Although it's made me plenty of money I hate the damn thing.

 

[Slottery]

Yep, most people don't even try to pretend it's a currency or a way to "fight the power" anymore, it's now unashamedly the world's biggest Ponzi so you better get in while the getting's good- there's an almost unlimited supply of rubes that will keep dumping their life savings into it.
Although it's made me plenty of money I hate the damn thing.

Yeah, never really have kept it anything else.. It's minus sum game, there is no any external gain coming from anywhere but new people who wanna own it and price reflect with increased demand. I don't mind about this kind of gamble, i like to play poker as well, just hope that many as possible are aware that if there are winners, there for sure are losers as well, all can't just get profits, somebody have to also pay them.

I think that ideological thing behind of crypto to be decentralized etc... is not that big point anymore, except for these same people who been idelogically supporting new independent currency which is not controlled by anyone but itself. Sure there are many things where these chains can be used, ie. confirming transactions and creating contracts between people that i can send funds very easily to anyone i don't know beforehand and we both know that other part can't scam you. Our normal bank transfers with SWIFT just probably are not best and fastest technology what world can create...

Guess what bothers me most is that insane electric consumption, BTC consume more energy than Norway as country, factories are short of computer components as there is so huge demand for chips for mining computers and other things which have quite negative overall impact. BTC happily is not last or latest technology so many of thse problems get addressed and solutions found, it's just not really possible just to explode BTC now and start to use some less consuming solutions.

Many crypto projects have quite bad reputation, especially if you ask from AML regulators, there's quite huge amount of dirty money laundered through of these exchanges and other services where you can just deposit your cryptos and convert them to stable coins and then fiat and voila.

Bit long but quite good article about Tether stable coin and possible issues behind that, probably only quite few people know full truth about what collateral assets there exist or no exist in backing it's price etc... but for sure it's easier way to wager your money clean than online casinos ever

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[slotmaster]

New record high for doge! .60 currently sitting and big rumors that deals with Amazon for a payment option and beer company partnership.

 

[slotmaster]

.71 already for doge!

 

[flyerskyangle]

This is one I got my biggest x right now. I bet it will get more x.
It called gamble

 

[slotmaster]

Just in DOGE and Ethereum classic at the moment for an update, It quite the roller coaster, lol. Gonna sell most likely and the same with most of the stocks sadly as I really need the money, trying to hold on and not touch it and stay in for another year in the stocks.

 

[slotmaster]

Well Doge and Elon on SNL did not work out, down %50.

 

[mack341]

the carlos guy from the bitconnect promo stage show was something else, but I never knew the firm was incorporated in the uk [9.50], how many more pyramid scams can just get set up out of the uk, no questions asked until the proverbial hits the fan, just like the football index business that crumbled. To have buyer beware for these internet based propositions/products also requires/ needs robust investigative journalism, as terms and conditions can mean squat

 

[KasinoKing]

I do like rollercoasters... but NOT this sort...

All my crypto assets down by 50%+ between May-19 & May-23

KK

 

[mack341]

Bitcoin's market cap $710,563,816,587 [seven hundred & ten billion, five hundred sixty-three million dollars]

Surely this has implications for the world economy if this continues to crash, add ethereum's and you have a trillion tied up that could largely evaporate, it's all confidence and sentiment, but hard to hold on, and not sell if you'd still up by doing so. similar to slots, when after a great win the balance plummets, you're still massively ahead but you want to regain the peak.

 

[sufferinsilence]

Elon Musk tweets and China announcing to crack down on miners is what caused this. Crypto market is fickle and a minority holds the majority of coins so if they dump the "small" investor is fucked.

 

[GordonotRamsay]

Well Bitcoin is really on the rise this time and I think that it is fair for all of us to know what it can really bring for all of us. I think it is worth noting that coinbetz is a fair site for us to use and know more about the coins out there. It is not just bitcoin alone, and you have to be aware of the rest of the market if you are going to try out on crypto in the long run since it is your money that is at stake as well so take note.

 

[mack341]

Wouldn't surprise me if it falls back soon, the energy it consumes is apparently huge, you can't buy a gpu anywhere it's just not normal.

 

[interlog]

Well Bitcoin is really on the rise this time and I think that it is fair for all of us to know what it can really bring for all of us. I think it is worth noting that coinbetz is a fair site for us to use and know more about the coins out there. It is not just bitcoin alone, and you have to be aware of the rest of the market if you are going to try out on crypto in the long run since it is your money that is at stake as well so take note.

Well that all depends from when you measure it.

If you look at the performance over the past 30 days it lost its value from $39,337 to $27,148 or a drop of 69%

 

[mack341]

saw this earlier on the bbc

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"It had all the hallmarks of a cannabis cultivation set-up and I believe it is only the second such crypto mine we have encountered in the West Midlands," she said.

"Bitcoin is a form of digital money, a cryptocurrency, which was first published as an idea in 2008.
It operates on the blockchain - a digital ledger of transactions - and miners audit Bitcoin transactions in exchange for an opportunity to acquire the digital currency.
This process consumes large amounts of electricity as it requires enormous computing power.
To increase profits, people often connect large numbers of "miners" to the network - even entire warehouses full of them.
Bitcoin's electricity consumption is currently greater than The Netherlands"

How can a dodgy operation like the above be part of the auditing, who do they contact in the bitcoin world or have a contract with?

The world has gone mad, greta on the tv everyday lecturing about climate change while this diabolical waste of non-renewable energy going on daily for no productive end, just a speculation game which is going to cost some dearly when the music stops.

 

[neon claws]

Yeah it's not going back up again for at least a couple years. I've switched 20% of my portfolio to eth since it has a solution to the power usage and will probably transition to 50% soon.

 

[mack341]

Bitcoin climbs as Elon Musk says Tesla 'likely' to accept it again [bbc]​

Bitcoin has jumped past $30,000 as Elon Musk said Tesla is "most likely" to start accepting it as payment again.

-----------

 

[mack341]

‘Biggest crash in world history’: Personal finance expert Robert Kiyosaki predicts economic crisis in October' [independent]

The author of bestselling Rich Dad Poor Dad predicts that a "giant" market crash coming in October has already been triggered and will bring down gold, silver and Bitcoin with it.

Evergrande, the second-largest developer in China, is on the brink of bankruptcy with more than $300bn in debt – the most indebted company in the world.

---------
I thought I heard china had imposed restrictions on bitcoin the other week, someone made a good point without bitcoin and the other cryptos, the price of gold/silver would be higher as some of that money would've been invested there instead.

 

[slotmaster]

Not sure about crypto, but a few are saying the cause of that for the stock market, like today for example, is not good in the stock market.

 

[Spikie]

Evergrande, the second-largest developer in China, is on the brink of bankruptcy with more than $300bn in debt – the most indebted company in the world.

Wrong thread for this , it needs to be in the Brexit thread for Chopley. Obviously down to Brexit

 

[slotmaster]

Anyone else trying to be a shiba millionaire? $50 in to get over 1.4 million shiba, LOL. Bitcoin doing good and the $100,000 price talk is in full swing.