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Official BGOL Crypto Currency Thread ★★★★★

This board is something else. Y'all got me out here feeling like McNulty.

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LegalMoney said:
Good morning and peace fam,

Running to work but if you're interested I made a quick little peek into my trading style with Elliott Wave theory.

You can download it here: https://ufile.io/6yvqe

Just PM me for the pass.

Also if anyone else knows TA I would love to start a Slack / Telegram so we can chart these coins.

A different set of eyes will be good too!

Edit: it's just a PDF file, didn't want to flood the thread with pix and shit
Click to expand...

Thanks for this. I learned Eilliot Wave theory yesterday. Using this plus the Bollinger Band you'll know when to buy or sell a particular stock/ coin. The stock market isn't predictable, but human behavior is predictable.
 
Raymond said:
Thanks for this. I learned Eilliot Wave theory yesterday. Using this plus the Bollinger Band you'll know when to buy or sell a particular stock/ coin. The stock market isn't predictable, but human behavior is predictable.
Click to expand...

No problem, was it easy to understand? Sometimes I tend to be wordy lol
 
Raymond said:
If what Mr. Wycoff said is true then I have no problem with him. He helped us out.
Click to expand...

I'm with you. I never felt "scammed". I just thought it was funny. Seemed like, after all that talk, people got scared to even ask a question.
 
jiggga said:
I'm with you. I never felt "scammed". I just thought it was funny. Seemed like, after all that talk, people got scared to even ask a question.
Click to expand...

I mean its before 9am EST I don't think everyone is awake or ready to contribute yet, but let's keep it a buck there is every reason to be skeptical of motives, particularly in this market.

I don't think the issue is people feeling scammed more so whether their was intent to profit off of the feverish greed and emotions novice investors experience during a bull market.

Like the market cycle constantly demonstrates, if you base your decisions off greed you'll eventually get burned and become a bag holder.

And then the cultural aspect, as a Black man I can't see myself directly profiting off my people. Even if folk have to take responsibility for their actions, I would hate to be another entity profiting off people already disenfranchised and taken advantage of on a global level due to white supremacy.

That's why Bitcoin on a thematic level is liberating, a currency free of government influence truly run by the people.

I always preached that becoming a millionaire is cool but anything you squeeze out of this market use it to free our people from existing constraints that prohibit our collective advancement.

I'm planning on using $10k to invest in a black owned start up with very favorable repayment terms. That's how I move.
 
I was keeping an eye on Bitcoin and set a reminder for last week of July, but if it might crash and burn before Aug 1st should just buy others coins or hold it offline immediately (when I get home lol)
 
My only complaint is why the hell did Mr Wycliffe put Google's name in the original title (and leave it there for so long)
Because that made me not take this thread serious in the first place
I knew Google was only in the angel round for ripple and each time I saw that title I just felt this must be a crazy discussion
Wheb it became a sticky I eventually got FOMO and dropped some $$$ and I'm happy I did :)
 
LegalMoney said:
Sold on Polo then sent BTC to Coinbase .

Took about two weeks to get everything to Coinbase.

Haven't sent to bank its in my USD wallet. May use tether
Click to expand...

I'm not trying to be a fear monger but you might want to think of cashing the USD in your coinbase out to your bank account ASAP. In two States , Wyoming and Hawaii, this week coinbase was shut down and the money held in those accounts cannot be accessed.

The worst part is that there is no plans short term plans so far of bringing coinbase back up in those States. The government is starting to catch on to this shit and they don't like people making money outside of their bullshit , broke ass pay check to pay check for the rest of your life, system. Just a heads up
 
kbanna said:
I'm not trying to be a fear monger but you might want to think of cashing the USD in your coinbase out to your bank account ASAP. In two States , Wyoming and Hawaii, this week coinbase was shut down and the money held in those accounts cannot be accessed.

The worst part is that there is no plans short term plans so far of bringing coinbase back up in those States. The government is starting to catch on to this shit and they don't like people making money outside of their bullshit , broke ass pay check to pay check for the rest of your life, system. Just a heads up
Click to expand...

Yea I wouldn't leave any Cost on Coinbase. Can't you just leave it in your Paypal account?
 
PayPal is already integrated into the "system" and is a complaint with every government reporting policy.

So if I transfer to PayPal I for sure know that the government will receive info about the deposit.

Coinbase is a quasi entity because it's a third party settlement service, meaning that the fees you pay are for their service of dealing with BTC LTC and ETH.

They already stated that the only info they provide the government is a 1099-k if you have more than 200k inbound transactions and more than $20k total processed.

So my option is to wait it out in CB until I devise a plan.
 
LegalMoney said:
PayPal is already integrated into the "system" and is a complaint with every government reporting policy.

So if I transfer to PayPal I for sure know that the government will receive info about the deposit.

Coinbase is a quasi entity because it's a third party settlement service, meaning that the fees you pay are for their service of dealing with BTC LTC and ETH.

They already stated that the only info they provide the government is a 1099-k if you have more than 200k inbound transactions and more than $20k total processed.

So my option is to wait it out in CB until I devise a plan.
Click to expand...

What does Paypal provide besides a 1099-k???

I'm not into Coinbase crashing like that when it's a red day and everybody trying to buy.
 
LegalMoney said:
PayPal is already integrated into the "system" and is a complaint with every government reporting policy.

So if I transfer to PayPal I for sure know that the government will receive info about the deposit.

Coinbase is a quasi entity because it's a third party settlement service, meaning that the fees you pay are for their service of dealing with BTC LTC and ETH.

They already stated that the only info they provide the government is a 1099-k if you have more than 200k inbound transactions and more than $20k total processed.

So my option is to wait it out in CB until I devise a plan.
Click to expand...

Is it that you just don't want to pay 30% taxes on your cash? Not trying to get all into your business but, I planned on cashing out through Coinbase or Kraken and just paying the tax hit. Is it not that simple?
 
kbanna said:
Is it that you just don't want to pay 30% taxes on your cash? Not trying to get all into your business but, I planned on cashing out through Coinbase or Kraken and just paying the tax hit. Is it not that simple?
Click to expand...

It is that simple if you want to include the profits into your 2017 gross income, but from a tax planning perspective if you organize a cryptocurrency business and contribute capital into the business then there maybe tax benefits that you can avail yourself.

Its a matter of tax planning.

I'm not worried about paying the tax, but I have to make sure the tax planning is completed and I haven't had the time to get to that.

I already organized an entity for a family trust with crypto that I manage and it takes a long time to make sure everything is properly set up.
 
LegalMoney said:
It is that simple if you want to include the profits into your 2017 gross income, but from a tax planning perspective if you organize a cryptocurrency business and contribute capital into the business then there maybe tax benefits that you can avail yourself.

Its a matter of tax planning.

I'm not worried about paying the tax, but I have to make sure the tax planning is completed and I haven't had the time to get to that.

I already organized an entity for a family trust with crypto that I manage and it takes a long time to make sure everything is properly set up.
Click to expand...

Whenever you come out with that book...I want a signed copy
 
While we're on the subject of taxes...

Illinois Releases Digital Currency Regulatory Guidelines
Josiah Wilmoth on 16/06/2017
Advertisement:

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The Illinois Department of Financial and Professional Regulation has issued a 9-page reportexpressing its interpretation of how the Illinois’ Transmitters of Money Act (TOMA) applies to digital currencies. Most notably, the Department declined to classify cryptocurrency as money and decided that most digital currency transactions fall outside of the purview of TOMA unless they involve a third-party intermediary.

Read more
 
It's official. yobit.net sucks.

I finally managed to sell the INSANE coin for bitcoin after it hit a second pump yesterday morning. It's been over 24hours and the order still isn't filled even though it contained less than $10 worth of crypto.

The pump rumors on the chat are pretty damn accurate and if you pay attention you can easily come up, but what's the point if you can't buy and sell coins at the right times?

Can someone please recommend an exchange that doesn't do this, or at least isn't as awful?
 
jiggga said:
I'm with you. I never felt "scammed". I just thought it was funny. Seemed like, after all that talk, people got scared to even ask a question.
Click to expand...

What talk? I see the most coincidental amount of events in the history of history. I ain't one for backpaging a muthafucka but iunno
 

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