depends on the circulating supply...for coins in the billions I don't know if we have the purchasing power to move it like that
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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depends on the circulating supply...for coins in the billions I don't know if we have the purchasing power to move it like that
VERY similar to the Housing Bubble but this is identical to the Dot.Com Bubble. Ask any of the "experts" on here to tell you about the Coins they are investing in and how their specific coins measure up to all of their top competitors.You won't get any good answers. These coins aren't going up because of great news or breakthroughs. They are going up off emotion. We shared articles about XRP daily back in January and Feb and XRP was dropping. Now it is 60x what it was even though the breakthroughs and good news is becoming less frequent. I still haven't heard what Verge does better than any of these other coins but i'm in it.
https://en.wikipedia.org/wiki/Dot-com_bubble
I suspect you are confusing XVG with Digibyte. Digibyte is in a Technology competition and people are hyping it thinking that Digibyte is going to win it and it is all of a sudden going to get very valuable.
http://www.techforintegritychalleng...grity-Challenge-Demo-Day-Finalists.pdf?x82031
looking thru kraken reading info re: withdrawing $$$
the issue dude has was w/ synapsepay but it seems like swift (smbc) may also be an option of withdrawing your $$$ w/ the same turnaround time as synapsepay...maybe it's possible to choose which one you can use
the issue dude has was w/ synapsepay but it seems like swift (smbc) may also be an option of withdrawing your $$$ w/ the same turnaround time as synapsepay...maybe it's possible to choose which one you can use
I have no idea
I'm sorry man I am completely bushed today*edit*
they don't list their circulating supply...went on their site to read their blog...link doesn't work...idk
It's just troubling that they omitted trading. What if you filed your taxes for this year already and made some insane profits after due to trading? They have a right to fuck you over because tax returns don't match up?
It's very possible that someone who made $50,000 last year might be working with hundreds in thousands of coins this year. I'm just going to send BTC to coinbase and be done with it. Not even safe to fuck with Localbitcoins like we did back in the day.
Some coins are long-term holds to me, while others are for flips. I like the concept behind BAT and Brave browser for instance. I like Humaniq because they will be collecting biometric data. XRP and ETH seem like obvious long holds to me. I know others might feel differently, but Steem might catch on. Wagerr could be interesting if it they develop it right. Probably end up blocking US customers, but there's the rest of the fucking world. I'll just hold those things even when/if the bubble pops.
Like some posters here(probably you too), I've just spent hours and hours reading up on this shit. I'm looking for coins that are tied to ideas that have long-term potential within the existing systems. I'm also wondering which coins ransomware hackers will ask to be paid in if Bitcoin has a problem and falls off. Jim Cramer just said today that European banks are buying up bitcoins to pay ransonware hackers as a shot-term cybersecurity solution.
Shit like Verge and others are just nice flips, although I think digi could still show long-term promise if they do well with that citibank thing. With the crypto buzz, citi might byte.
This is where it is. The .dot come bubble popped in late 2000. I think we're in 1998.
The problem is that Cuban is talking specifically about Bitcoin. I don't think there is a Bitcoin bubble. I think there is a token bubble. I bet you if you asked Cuban to name another token besides Bitcoin and Ether, he couldn't tell you.
Sorry but I feel the longevity of alt coins trumps the dot.com. More future proof tech. I do see some of the joke coins faltering away tho.
Kadeem A. Garnett @iamkgarnett·1h
@mcuban when $XVG hits $1 I'll buy the Mavericks, move them to Vermont and rename them the "Vermont Verge".
#VergeToTheMoon #CryptoBilli
@mcuban when $XVG hits $1 I'll buy the Mavericks, move them to Vermont and rename them the "Vermont Verge".
A vast majority of these tokens are based on complete trash and won't be in existence in 2020. I didn't say anything about the longevity of tokens. We're talking about speculative bubbles. Digibyte, which I have a significant holding, it's wildly overvalued by any means of valuing an asset. There is a wild bubble in altcoins right now.
The altcoin valuation bubble is almost exactly like the late 90s bubble. Crappy products, crappy teams, vaporware, and crazy wealth being created by greedy speculation based on nothing + overzealous new money that absolutely has no idea what they're doing but just chasing quick profits. Bitcoin and the blockchain (and other products like ether, stratus, and other are real tech) will continue to disrupt industries, but most of this stuff is absolute trash driven by opportunistic teams or just wild speculation. There is a token worth 100s of millions of dollars right now and it doesn't even have a fucking team anymore and everyone knows it and they're still pumping it.
I completely understand it and accept it for what it is. The key to this whole thing is going to be knowing when to get out and not getting caught holding the fucking bag. Because once it goes, there is going to be a massive shakeout and billions will be flushed out. It's going to happen. it's just a matter of when.
And if you get out at the right time, you'll be able to buy the real assets that get massively revalued during this shakeout when they're actually good businesses/tokens with proven business models.
So just enjoy this while you can. At some point in the future, I'm calling it 2-3 years out, you won't be able to do any of this shit like this. They'll start to be more specific valuation models, smarter money in the system, etc that will shake all of this out.
History might not repeat but it rhymes.
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Found this portfolio tracking website for your crypto portfolios: https://altpocket.io/
Also since a lot of us got Verge (XVG) why dont we coordinate our buys at the same time. For example this friday at 8pm we all buy 100,000 verge shares. BGOL whale Group.......let move together brethren and kill the game.
Also since a lot of us got Verge (XVG) why dont we coordinate our buys at the same time. For example this friday at 8pm we all buy 100,000 verge shares. BGOL whale Group.......let move together brethren and kill the game.
I just need 1 year from this point.
I need until Q1 2018. If the shit falls apart in Q2 2018, I'm fine with it. If we a full year from now, I'm so good. Give me the two years that I think we'll get and
It's going to start getting more complicated soon though. There is more sophisticated money coming and all at some point, the low fruit is going to be all picked.
That's why we're doing as much as we are behind the scenes identifying and such.I need until Q1 2018. If the shit falls apart in Q2 2018, I'm fine with it. If we a full year from now, I'm so good. Give me the two years that I think we'll get and
It's going to start getting more complicated soon though. There is more sophisticated money coming and all at some point, the low fruit is going to be all picked.
2 years? shit
I would suggest hiring a good tax advisor, BEFORE you cash out. But any case this may help:
https://www.forbes.com/sites/greats...report-capital-gains-to-the-irs/#78b7c18de3d8
Verge (XVG) Telegram group https://t.me/VERGExvg if anybody needs it.
So Verge does security better than moreno or the other security coins. Verge main selling point : the best privacy/security coin. Not sure how true that is but that what they are selling
Nice drop with the tracking website.
If we ever do coordinate like that, would be through PMs with trusted members here.
thanks. but if my understanding is correct, everytime you acquire, flip, trade coins...those are considered taxable events. thats why i am trying to see if anyone else is understanding m,y question. when next tax season rolls around, do we need to report all of our transactions. not even talking about cashing out. from the time you acquire a bitcoin, did you make or lose money off of that bitcoin.
worse case scenario, you dont claim any of your moves. 3 years later, you are ready to cash out but the irs has you hemmed up in audits.
the article answers your question...
...I believe coinbase sends out info to you that can be used for tax reports...idk about kraken or bittrex...but that's something you can easily inquire about
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I like the idea , but we're in different time zones... set the time zone and let's do this
...and thank you for bringing it up...I read the article and ignored it @ first but reading your post made me accept the reality of it...that's what has to be done for those of us who plan to do it by the book...if anything it's a good heads up to start keeping records in order
Don't mean to keep harping on this but check this reply from one of the posters on the original thread about Kraken
"Sorry to hear about this.
This sound likes the same "accredited investor" claptrap that BCAP and too many other folks are doing in the crypto space to be compliant with SEC Regulation D. In short, this regulation limits some investments to "accredited investors," which requires that you have a demonstrated income of USD $250,000 or more than $1M in assets independent of your primary residence. So, basically, you have to be rich to be able to get rich in certain investments. Pretty goddamn un-American, if you believe the Horatio Alger meme still lives and breathes."
So again, you basically have to be rich to withdraw your money from these exchanges in large sums? Or sit there and withdrawal tiny sums and get killed in fees. I probably have a year before this becomes my problem, but hopefully the market matures enough and there are enough crypto millionaires by then for this situation to be sorted out and proper exit strategies are mapped out
kraken coinbase and bittrex have all your transactions accounted for...each exchange lists everything I've bought/sold/etc...I know kraken even provides a PDF printout of each transaction
I can't panic over one dude's experience or one poster's response on that site to half the story...in the meantime ppl have said coinbase or gemini can be used as well
it is probably not as hard as it seems. the exchanges track all transactions. it will just be tedious as hell. but i think on bittrex you can export a spreadsheet with everything. i think.
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