Doczu
Member
I'm holding onto my ETC for now, had a nice bump yesterday but fell down for now, but i think it will go up again, bit higher than it was.
Damn you DOGE!
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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)
Damn you DOGE!
DeaDPo0L84
Member
I have a good feeling about BTT when it comes to the long game.
Codiox
Member
The BTC train is almost over. ETH is where money is beeing made.
Maiden Voyage
Gold™ Member
Good thing I'm only using money I'm good with losing then.
MrS
Banned
Awesome job, congratulations man
ipukespiders
Member
QSD
Member
You should at least buy some doggy treats for your avatar, he's evidently been a good boi but he seems sad
taxes really kill all of the joy of investing in crypto
Ya but its really the same as stocks, only problem is crypto is more volatile so you are tempted to sell before the 1 year holding period.
Ascend
Member
You can always borrow against them rather than selling them, but that comes with additional risks.taxes really kill all of the joy of investing in crypto
{insert code here}
Member
taxes really kill all of the joy of investing in crypto
You can also just hodl for life, and never pay tax.
gela94
Member
What do you mean with borrow against them ? I don't understand
ipukespiders
Member
I invest in crypto ETFs and miners in registered accounts.taxes really kill all of the joy of investing in crypto
{insert code here}
Member
You can use a company like blockfi where you can take out a loan against your crypto. I believe they will lend you half the value of your crypto in a usd stable coin at a fixed interest rate. So if you put up 10k btc as collateral they'll give 5k in USDC and you'll have x time to pay it back plus the interest, otherwise they keep your btc.
I've never done it so can't really comment on how that process plays out.
Master Of Illusion
Member
DOGE is some of the most volatile shit...
One second Musk tweets and its at .74, some other firm tweets that they're shorting it and it sinks to .61, now it's as .66--
Everytime it peaks I could theoretically sell and then rebuy the dip to make some good $$, but I'm too afraid of/confused by the taxes.
One second Musk tweets and its at .74, some other firm tweets that they're shorting it and it sinks to .61, now it's as .66--
Everytime it peaks I could theoretically sell and then rebuy the dip to make some good $$, but I'm too afraid of/confused by the taxes.
Ascend
Member
I'll give an example to show you what I mean, with some easy numbers.
Say you bought 1 Bitcoin at 5k. Right now it is 50k (for ease of calculation). You don't want to sell, but you want to take some profits. What you can do is, with apps like Celsius, you 'freeze' a portion of your BTC, and get money for it. You can see it as sort of mortgaging your Bitcoin. Since the lending platform wants some security, you can't freeze the current amount of Bitcoin equivalent to your borrowed amount. Your borrowed amount can be at most 50% the value of your Bitcoin, due to the downside risk.
In this example, a good way to do it is, that you freeze 40% of your Bitcoin (which is equivalent to 20k USD), and lend 10k USD against that Bitcoin that you froze. Bitcoin would have to drop all the way to 25k for you to get liquidated (which is quite unlikely right now, but still a risk). If you think a 25k BTC is still too risky, you can freeze a higher portion of your Bitcoin, or lend less. You use 5k to get your initial investment out, and the other 5k (or whichever amount you think is an appropriate portion), is a profit, but I would recommend you use it as a backup to assist in paying back your debt in case its necessary.
In case the price of Bitcoin goes higher to 70k for example, your relative percentage, i.e. the 40% you froze reduces to say 30% relatively, and you can use a portion of that, to pay for the remaining debt by lending a small portion again. That way, you never sell your Bitcoin, and, well, I don't know exactly how taxes work in the US, but maybe you can get tax cuts as well due to having debt.
So in short, you don't sell your crypto, you can get money for it, you don't have to pay taxes on them, and you might even get tax cuts due to having debt.
The downside? If Bitcoin drops to 50% of its value (or whichever portion you borrowed), you can lose all your frozen Bitcoin if you don't deposit some additional Bitcoin to cover the debt, or can't pay the borrowed money back immediately.
Note that this is only viable if the price increase of the asset, in this case Bitcoin, is higher than the interest you have to pay back. Otherwise you'll be losing money.
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pel1300
Member
Guys let's pretend I have about 50k I'm willing to go all in on with crypto. And I want two cryptos and are not so volatile.
My first choice is ETH. Maybe invest 25k in it. Then how about litecoin? I see it is at $382 and spiking up every day and has been going up consistently the past few months.
Asking for my retired friends (childhood friend's mom and dad) who have a decent amount of money but historically been terrible at financial decision making and investing. They once lost 100 grand, a 100% net loss on day trading 20 years ago.
My first choice is ETH. Maybe invest 25k in it. Then how about litecoin? I see it is at $382 and spiking up every day and has been going up consistently the past few months.
Asking for my retired friends (childhood friend's mom and dad) who have a decent amount of money but historically been terrible at financial decision making and investing. They once lost 100 grand, a 100% net loss on day trading 20 years ago.
bigedole
Member
Crypto is not for you given what you have described. Eth could very well drop back to 500 next week. Shit is that volatile. My advice to anyone who ever suggests they are intrigued/interested in crypto is do not invest any money you can not afford to lose 100% of.
ipukespiders
Member
Do you wish to remain friends with them?
pel1300
Member
They are willing to lose all of it.
SirKicksalot
Member
Now this is shitcoining!
The strategy:
The strategy:
It's The Kennel Master on 4chan's biz board, he posts the updated sheet once in a while.
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HoodWinked
Member
taxes arent that confusing if whatever the capital gains are you pay tax on that. so whether you sell then and get taxed or sell later and still get taxed.
it's just that its very easy to see in hindsight where to have sold and where the bottom is to rebuy. in real time its much more difficult you'll either be too early/late for any of your transactions because when looking on a chart the windows are very small for optimal pricing
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The_Mike
I cry about SonyGaf from my chair in Redmond, WA
I really wish I was in this game earlier.
Missed the btc bull because obvious reasons. Many of us didn't know of it back then, and we always hear its too late to buy btc.
Yet it grows YoY.
Then Ethererum came. Didn't want to invest in it because no coin could do what btc did. Now eth bulls a lot looking to be as big or even surpass btc.
I invested some in Matic as well. 16 euro in doge because for the lols of it and it was that joke that actually got me into this.
I spent around 140 euro, where most of it is in eth and Matic, and seeing both almost doubling my investment shows me that crypto is still possible to earn money on.
I'm really trying to only use money I can afford to lose, but fuck me I can see myself as a millionaire ten years from now with Eth lol.
Would be awesome if Doge made the turn table and made everyone who invested in it billionaires lol.
Missed the btc bull because obvious reasons. Many of us didn't know of it back then, and we always hear its too late to buy btc.
Yet it grows YoY.
Then Ethererum came. Didn't want to invest in it because no coin could do what btc did. Now eth bulls a lot looking to be as big or even surpass btc.
I invested some in Matic as well. 16 euro in doge because for the lols of it and it was that joke that actually got me into this.
I spent around 140 euro, where most of it is in eth and Matic, and seeing both almost doubling my investment shows me that crypto is still possible to earn money on.
I'm really trying to only use money I can afford to lose, but fuck me I can see myself as a millionaire ten years from now with Eth lol.
Would be awesome if Doge made the turn table and made everyone who invested in it billionaires lol.
infinitys_7th
Member
With inflation coming, I think crypto is going to be a strong hedge against it. That, and it is really just finding its feet now. Returns are diminishing, but so is long-term risk.
The_Mike
I cry about SonyGaf from my chair in Redmond, WA
So you think the golden age of crypto is long gone?
infinitys_7th
Member
The age of instant millionaires is, for the most part, but I think you can still get some of that in altcoins and there is a long-term (like 10 year) opportunity to heavily outperform the S&P 500 in Bitcoin and Ethereum, with an acceptable risk.
ThatStupidLion
Member
Btc and eth are the safest, but that doesnt mean they wont go to zero. Nor does it mean theyll 2x.
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The_Mighty_X
Banned
DEXA has doubled in price since I posted this on May 3.
Elpidio Valdés
Member
I put about 3K today on Distric0x (DNT). The trader I follow on Telegram sent an alert to buy it, he expects it will grow by 500% in the near future. Obviously he could be completely wrong but he's made me a lot of money before with alerts like this one and I can afford 3K.
The best part is that Distric0X is on Coinbase so it was easy to buy.
The best part is that Distric0X is on Coinbase so it was easy to buy.
Doczu
Member
Interesting. I wanted to invest s bit in a cheap ass coin and hope to see it explode. How many times was he right and how many times was he wrong?
infinitys_7th
Member
Thanks for the tip. I've been looking for something else to throw a couple hundred into. I'll check it out.
Elpidio Valdés
Member
Well I don't have a running tally of how many times he's been right or wrong but he's been in this world for many years. The dude is in his 50's. He does everything, Cryptos, Forex, Options, Sports betting. He's been talking about Safemoon for a while and early on he recommended all the ones that exploded. Yesterday was when he recommended Distric0X.
Obviously you guys should do your own research and not go by what he or I say. I trust the guy but cryptos are a volatile market and I wouldn't want anybody losing money because of me. Do your research, choose wisely and only invest what you can afford to lose!
Doczu
Member
I can't hear you, i'm listening to the sound of my imaginary lambo in front of my house!
... Of course i'll do my research and i won't go all in with an extra mortgagr cause some anon on a forum heard from another guy on a Telegram group to invest in this specific coin
dr_octagon
Banned
would quantumn computing impact security of blockchain?
HoodWinked
Member
Yes it's all based on cryptography if you had quantum it would break all of that and you could get the private keys of any wallet
Cyberpunkd
Gold Member
This is true in general for all investing.
CloudNull
Banned
Etheruem is a very unique blockchain that has barely reached its peak. Even if it drops for a while I think it is one of the most sound cryptos around. It actually has very unique technology behind it that no other blockchain comes close to.... yet.
They have some technical issues that the must get over and supposedly that is happening. It’s slow but if happens the tech could really skyrocket even more.
llien
Member
No, this is true in general for all the speculations.
Such as going to a casino and putting $10k on red.
Money invested in actual companies tends not to turn to zero, as they have real assets behind them.
GamingKaiju
Member
Loving the ride on eth guys!
It’s hard not to cash in a few of my mined eth nodes in though.
Hodl til this ride has got loads of momentum behind it.
It’s hard not to cash in a few of my mined eth nodes in though.
Hodl til this ride has got loads of momentum behind it.
Irobot82
Member
It's never wise to chase trains, but always HODL on.
Ogbert
Member
Tell them to put on a pair of speedos, put on some Van Halen, dump it all in Cardona ADA and then air guitar.
Actually, please don’t tell them to do that.
Ascend
Member
Assuming miners would not use Quantum Computers.
The cryptography used in crypto is generally non-reversible, meaning, no matter how much computing power you have, you cannot recover the original information.
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godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
I started staking ETH with Coinbase today. They show you some random number approximation of your earned ETH2 going up while you stake. It is definitely engaging.