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Official BGOL Crypto Currency Thread ★★★★★

Mrfreddygoodbud said:
I hear ya but I personally would never cash out on a down swing..

but then again I got the patience of Job in fact Job got nothing on me..
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I'm here for the long haul, I want to have stories of buying the lil ones cars with this coin money.

Like dude said he paid for his son college/was up 89k just on one coin alone
 
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LSN said:
if you like the idea behind RDD then you may also want to look @ STEEM...far more sustainable project
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Steem has a working viable product and a solid community behind it. The only problem I have with STEEM is the 3 different coins.
 
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LSN said:
this is what will force ppl to hide their shit smh...not sure I’m understanding correctly but instead of taxing the lump sum you pull out...it looks like they want to tax every trade you made leading up to that lump sum?
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That's how I'm taking it too. Sounds like they trying to make it like the stock market in some respects. They will eventually want to treat each trade like a buy/sell just like regular stocks.

Today every stock market transaction is done with FIAT and they want to treat crypto the same way. Every buy/sell between crypto will be treated like a buy from FIAT to crypto then a sell from crypto to FIAT then a new purchase from FIAT to the next crypto.

Even if you do an atomic swap they will tax you on the profit from the conversion.

Not really worried about it yet.
 
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RoomService said:
Let me be the first to apologize to the people holding verge... shit hit 16 cent. I still believe it’s a shit coin, but money is money
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just heard from @Spectrum that they revamped the team some time back...this is not the same verge project we was trashing a while back
 
LSN said:
just heard from @Spectrum that they revamped the team some time back...this is not the same verge project we was trashing a while back
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I completely missed the new team taking over. Was discussing it with some people at Science Inc the other day. You can even see the github activity has exploded. There is a direct correlation between github activity and coin price (like check our Raiblocks github as an example). It WAS a scamcoin at one point. You gotta stay on everything in this game. I had 10M verge at one point.. that would be worth $1.6M now smh
 
Spectrum said:
Yeah. He's doing too much without the resources to support what he's trying to do. He's spinning his wheels. Too many other good opportunities out there to burn the time.
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Brother Spec
Thanks for this update
I bought a bunch of INFX back in June because you posted about it (then it was 60 cents)
But it hasn't really been moving
So a week ago I sold most of it (just kept about 100)
Of course right after I dump it, it started rising :curse::curse:

What's your recommendation? Should I go back and stack up?

Also I need that slack invite, bro.
 
Spectrum said:
I completely missed the new team taking over. Was discussing it with some people at Science Inc the other day. You can even see the github activity has exploded. There is a direct correlation between github activity and coin price (like check our Raiblocks github as an example). It WAS a scamcoin at one point. You gotta stay on everything in this game. I had 10M verge at one point.. that would be worth $1.6M now smh
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Ten million verge????

Good lawd.....

Hey its part of the game tho...

Keep digging u gonna hit some gold again
 
CybaCipha said:
That's how I'm taking it too. Sounds like they trying to make it like the stock market in some respects. They will eventually want to treat each trade like a buy/sell just like regular stocks.

Today every stock market transaction is done with FIAT and they want to treat crypto the same way. Every buy/sell between crypto will be treated like a buy from FIAT to crypto then a sell from crypto to FIAT then a new purchase from FIAT to the next crypto.

Even if you do an atomic swap they will tax you on the profit from the conversion.

Not really worried about it yet.
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Well then we better be able to deduct loses as well....
 
Gonna be hard to keep up with BTC to USD conversion for tax purposes. The price of BTC changes so much that it would not be a constant
 
Confucius said:
Gonna be hard to keep up with BTC to USD conversion for tax purposes. The price of BTC changes so much that it would not be a constant
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I'm not even gonna worry about that...

When I get my millions I'll just give them their cut and tell em get the fuck outta here..

If they even whimper I'm off Panama they can have their passport and I'll keep everything
 
gene cisco said:
I don't know what I'll do. I'll worry about that when I get $1 million.

One way to supposedly avoid taxes is to take a loan against your capital gains. Problem is the price of crypto swings so bad that terms are kind of fucked right now. Rich people supposedly take loans against their capital gains all the time. I guess they can turnover the assets and avoid taxes. Wouldn't know how true that is. I'm not a millionaire, but I've been looking into how they practice tax avoidance(not tax evasion).

@LegalMoney money might know about these loan things.



But he's a lawyer. Probably charges that for a couple hours work. :eek:
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Can't you solve the volatility by converting to USDT (which is tethered to the dollar), then take loans backed by your USDT?
 
6supaman9 said:
For example, folk who bought bitcoin at above 16k mad as shit right now... cheaper stocks with great potential can give you 1000% gains... that is possible with bitcoin, but you can invest less money and be able to make more of a return getting in early on a gem
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I don't think he was being condescending.I can see how you may feel that way because what he said should be obvious. But let me try and explain what he meant (hopefully you wouldn't consider this condescending too).

The unit PRICE of a coin is IRRELEVANT. What is relevant is the MARKET CAP compared to your guess/prediction of what that market cap will be in the future.

BTW this applies to almost anything sold in shares not just crypto.

Here are some examples of how to think of this :

Bitcoin just had a market cap of $300B (which is a lot considering VISA is worth $255B) - Total available coins is 16M - so the unit price was 19K
To expect Bitcoin to go to $50K each is to expect it to be worth $800B
Ethereum has a market cap of $70B , total available 100M coins, unit price $700, and market cap will need to get to $500B for those coins to be worth $5K.

Ethereum at 500B and Bitcoin at a Trillion don't sound totally crazy given what they have done and can do.

Now let's look at a some called "cheap" coin that their high supply can fool people

Ripple has a market cap $40 BILLION (compared to PayPal which is worth $75B) - total available is 40B coins - unit price $1. To expect the price to go to $10 means to expect Ripple to be worth $400B - not impossible but quite ballsy. BTW I OWN RIPPLE SO I DO HOPE IT GOES UP.

But if Bitcoin had as many coins as Ripple it would be worth $7.50 !


Dogecoin has a market cap of $400M, total 110B coins that's why it's coin price is $0.0036. If you are predicting Doge will hit $1 you are telling us it will hit a total market cap of $100B, so don't be surprised if people laugh at that.

Hope this helps understand what the brother was saying.
 
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spaceage78 said:
Yes 107M
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