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Official BGOL Crypto Currency Thread ★★★★★

what's the word in this coin?
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Hey Julian! said:
I don’t think it resets after you sell to BTC. You just have to show that gains were made on holding for a year before you converted. This is where a tax professional would come in handy. I’m not tripping on the tax rate though. This is all easy money. Y’all shouldn’t be worried unless you plan on withdrawing everything all at once. Under the new tax law. You could make up to $160k a year as a single filer and $320k if you file jointly and your max tax bracket is 24%. That’s fine with me. I make about $60k so another $100k taxed at a quarter of my gain, I won’t trip on. Trying to save that extra 10% and proving to the feds that it was long term gains sounds like it could’ve a headache if you get audited. I’d rather have a print out of my trade history, my points of entry on an exchange and my points of exits. Everything made in between on trades they figure out if it’s long term or not, I’ll pay marginal regardless.
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You think they'll make it that easy? I bet most tax professionals will tell clients to forget the long-term unless they can go straight to fiat. Because if the IRS acts funny, you'll have to pay all that money back.

Need fiat exchanges to add more crypto.
 
I wouldnt panic sell at all right now, I bet a lot of this drop is due to the seasons..

in addition to goldman sachs fuckery..

but Im sure those who made a killing want to ball out this holiday season...

wait till folks get their tax returns....



like everyone is saying now is the time to buy...
 
Mrfreddygoodbud said:
I wouldnt panic sell at all right now, I bet a lot of this drop is due to the seasons..

in addition to goldman sachs fuckery..

but Im sure those who made a killing want to ball out this holiday season...

wait till folks get their tax returns....



like everyone is saying now is the time to buy...
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I'm not sure how I feel about the major drop. Before today, I could more or less point to an event that caused the market drop. Granted the last 3 weeks were too good as most expected bitcoin to hover around 10k to 12k for awhile and it kept running, the current fall still feels off.

It could be people selling for tax purposes just like in the stock market, but given the overall crypto market rise this year how much could anyone had loss compared to their overall gains.

Even your thoughts on people taking money out for the holidays seems a little late as opposed to let's say this happening early this month.

The only thing I could think of is the bitcoin cash/Coinbase issue making new investors uneasy. Even though the same things happen in traditional markets everyday.

Also Roger Ver did an interview with a mainstream media outlet and he could have inadvertently caused fear for new investors.his intention was to promote bitcoin cash, however, you may have needed to be in crypto to understand his thoughts. To new comers or people on the fence, they heard don't buy bitcoin/sell because the price will crash.
 
gene cisco said:
You think they'll make it that easy? I bet most tax professionals will tell clients to forget the long-term unless they can go straight to fiat. Because if the IRS acts funny, you'll have to pay all that money back.

Need fiat exchanges to add more crypto.
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Yeah, that's why I said I'm not trying be big on the long term gains play. Could you imagine if you cashed out $1mil, pay that $150K and Feds come back years later like nah you need to show us proof of that long term hold or it's 38%. I'd be sick as fuck.
 
guyver said:
I'm not sure how I feel about the major drop. Before today, I could more or less point to an event that caused the market drop. Granted the last 3 weeks were too good as most expected bitcoin to hover around 10k to 12k for awhile and it kept running, the current fall still feels off.

It could be people selling for tax purposes just like in the stock market, but given the overall crypto market rise this year how much could anyone had loss compared to their overall gains.

Even your thoughts on people taking money out for the holidays seems a little late as opposed to let's say this happening early this month.

The only thing I could think of is the bitcoin cash/Coinbase issue making new investors uneasy. Even though the same things happen in traditional markets everyday.

Also Roger Ver did an interview with a mainstream media outlet and he could have inadvertently caused fear for new investors.his intention was to promote bitcoin cash, however, you may have needed to be in crypto to understand his thoughts. To new comers or people on the fence, they heard don't buy bitcoin/sell because the price will crash.
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I'm thinking the it's what Ver said.
 
guyver said:
I'm not sure how I feel about the major drop. Before today, I could more or less point to an event that caused the market drop. Granted the last 3 weeks were too good as most expected bitcoin to hover around 10k to 12k for awhile and it kept running, the current fall still feels off.

It could be people selling for tax purposes just like in the stock market, but given the overall crypto market rise this year how much could anyone had loss compared to their overall gains.

Even your thoughts on people taking money out for the holidays seems a little late as opposed to let's say this happening early this month.

The only thing I could think of is the bitcoin cash/Coinbase issue making new investors uneasy. Even though the same things happen in traditional markets everyday.

Also Roger Ver did an interview with a mainstream media outlet and he could have inadvertently caused fear for new investors.his intention was to promote bitcoin cash, however, you may have needed to be in crypto to understand his thoughts. To new comers or people on the fence, they heard don't buy bitcoin/sell because the price will crash.
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no doubt but I still think goldman sachs playin the whale has a lot to do with it,

they want to be up and running by june.. so Im sure they are tryin to corner markets early...

https://www.bloomberg.com/news/arti...-to-be-building-a-cryptocurrency-trading-desk
 
guyver said:
I'm not sure how I feel about the major drop. Before today, I could more or less point to an event that caused the market drop. Granted the last 3 weeks were too good as most expected bitcoin to hover around 10k to 12k for awhile and it kept running, the current fall still feels off.

It could be people selling for tax purposes just like in the stock market, but given the overall crypto market rise this year how much could anyone had loss compared to their overall gains.

Even your thoughts on people taking money out for the holidays seems a little late as opposed to let's say this happening early this month.

The only thing I could think of is the bitcoin cash/Coinbase issue making new investors uneasy. Even though the same things happen in traditional markets everyday.

Also Roger Ver did an interview with a mainstream media outlet and he could have inadvertently caused fear for new investors.his intention was to promote bitcoin cash, however, you may have needed to be in crypto to understand his thoughts. To new comers or people on the fence, they heard don't buy bitcoin/sell because the price will crash.
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It's all the big hedge fund boys . a Chinese guy on youtube layed it out 1.5 weeks ago. Because they didnt want to pay top money for Bitcoin and other altcoins , they made a conscious decision to crash bitcoin 50% and instantly make double the money when it comes back up
 
guyver said:
I'm not sure how I feel about the major drop. Before today, I could more or less point to an event that caused the market drop. Granted the last 3 weeks were too good as most expected bitcoin to hover around 10k to 12k for awhile and it kept running, the current fall still feels off.

It could be people selling for tax purposes just like in the stock market, but given the overall crypto market rise this year how much could anyone had loss compared to their overall gains.

Even your thoughts on people taking money out for the holidays seems a little late as opposed to let's say this happening early this month.

The only thing I could think of is the bitcoin cash/Coinbase issue making new investors uneasy. Even though the same things happen in traditional markets everyday.

Also Roger Ver did an interview with a mainstream media outlet and he could have inadvertently caused fear for new investors.his intention was to promote bitcoin cash, however, you may have needed to be in crypto to understand his thoughts. To new comers or people on the fence, they heard don't buy bitcoin/sell because the price will crash.
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either way I aint sweating it.. I know its some of it is legit but a lot of it is some fuckery going on somewhere..

its gonna correct itself tho....

like I said, let bitcoin go down to some crazy shit like under five hundred..

I will take out a loan and load the fuck up...
 
Looks like the markets are rising the past hour or so. Everything is moving up at the moment. Hope u guys padded ur assets during the down turn! If u haven't, what r u waiting for!?!
 
Mrfreddygoodbud said:
either way I aint sweating it.. I know its some of it is legit but a lot of it is some fuckery going on somewhere..

its gonna correct itself tho....

like I said, let bitcoin go down to some crazy shit like under five hundred..

I will take out a loan and load the fuck up...
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Overall agree. The hardest part is figuring out what I want to buy or add. I'm thinking Cardano or substratum.
 
Mrfreddygoodbud said:
both those coins look very fuckin interesting..... Id have to read more up on them tho..
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I was planning to buy both when they were in the .10 range but I never did. After they started moving, my pride wouldn't allow me to buy at the ATHs. I hate buying when I saw something at the bottom. That's the reason why I'll never by Neo or Power ledger.
 
guyver said:
I was planning to buy both when they were in the .10 range but I never did. After they started moving, my pride wouldn't allow me to buy at the ATHs. I hate buying when I saw something at the bottom. That's the reason why I'll never by Neo or Power ledger.
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yea I feel you but you could miss out on some good flippin with

that kind of emotion..
 
Mrfreddygoodbud said:
yea I feel you but you could miss out on some good flippin with

that kind of emotion..
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At this point it's starting to be about making overall good picks at decent times and not making more money/crypto. It's easy for me to buy into a wave, but I'd rather say i was correct about a projects potential.

Granted I could still say I saw the potential in those 2 projects, I clearly was not completely sold or I would have put money in.
 
guyver said:
At this point it's starting to be about making overall good picks at decent times and not making more money/crypto. It's easy for me to buy into a wave, but I'd rather say i was correct about a projects potential.

Granted I could still say I saw the potential in those 2 projects, I clearly was not completely sold or I would have put money in.
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yea I know the feeling..... I did the same for factom...

I couldve bought in under five dollars... only to see it jump a month later to over twenty bucks...

hindsight is a muthafucka
 
fonzerrillii said:
Man I lost fucking 500 dollars in 7hrs...


:crying::crymeariver:
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$500. Bruh. :hmm: People portfolios went down thousands and thousands like in an hour. They online really shook. Selling right into this madness.


Hey Julian! said:
Yeah, that's why I said I'm not trying be big on the long term gains play. Could you imagine if you cashed out $1mil, pay that $150K and Feds come back years later like nah you need to show us proof of that long term hold or it's 38%. I'd be sick as fuck.
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Yeah man. And the tax people really don't understand the game. It's not that they're not trying to, but the government just isn't fucking clear. That property exchange bullshit is what's fucking us. I hate that BTC is property to the IRS yet money to the feds. Shows just how greedy this country is. :smh:

Unless I can pull out direct to fiat, I'm not even fucking with long-term. I don't care what kind of witchcraft my accountant claims to be able to pull. I don't need to see the suits at my door in 2020 like :hmm:

spaceage78 said:
Try $2M
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Everything was in the red for me and I would have went batshit back in June.
The only thing I hate about these sales is all my shit was on sale. I need some to go back up while others stay down.
 
gene cisco said:
$500. Bruh. :hmm: People portfolios went down thousands and thousands like in an hour. They online really shook. Selling right into this madness.




Yeah man. And the tax people really don't understand the game. It's not that they're not trying to, but the government just isn't fucking clear. That property exchange bullshit is what's fucking us. I hate that BTC is property to the IRS yet money to the feds. Shows just how greedy this country is. :smh:

Unless I can pull out direct to fiat, I'm not even fucking with long-term. I don't care what kind of witchcraft my accountant claims to be able to pull. I don't need to see the suits at my door in 2020 like :hmm:


Everything was in the red for me and I would have went batshit back in June.
The only thing I hate about these sales is all my shit was on sale. I need some to go back up while others stay down.
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hell yea those gluttonous bastids, will wait to, they wont hit you up when you have the bulk of it, they will wait till you have most of it spent or locked up..

then they comin for you, and aint even gonna give you no time to pay up.. they gonna be like you have thirty days to give us our money or the penalties will start rolling in..

but you sayin, you would just give them the forty percent cut tho??

nah not me, fuck that...Ill just leave it in bitcoin for a little over a year and just give them their fuckin fifteen percent..
 
gene cisco said:
$500. Bruh. :hmm: People portfolios went down thousands and thousands like in an hour. They online really shook. Selling right into this madness.
.
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You're not lying with your statement, but while 500 isn't a loss to some and others wish that is all they have loss, to others that could be a lot. Everything is relative to our own situations.

Someone who lost their job and doesn't have any savings doesn't want to hear me bitch about losing 10k knowing I have 950k.

Best advice I could give is it's not a loss until you sell and even if you do need to sell at a loss you may be able to reinvest and get everything back.
 
Mrfreddygoodbud said:
hell yea those gluttonous bastids, will wait to, they wont hit you up when you have the bulk of it, they will wait till you have most of it spent or locked up..

then they comin for you, and aint even gonna give you no time to pay up.. they gonna be like you have thirty days to give us our money or the penalties will start rolling in..

but you sayin, you would just give them the forty percent cut tho??

nah not me, fuck that...Ill just leave it in bitcoin for a little over a year and just give them their fuckin fifteen percent..
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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.

guyver said:
You're not lying with your statement, but while 500 isn't a loss to some and others wish that is all they have loss, to others that could be a lot. Everything is relative to our own situations.

Someone who lost their job and doesn't have any savings doesn't want to hear me bitch about losing 10k knowing I have 950k.

Best advice I could give is it's not a loss until you sell and even if you do need to sell at a loss you may be able to reinvest and get everything back.
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But he's a lawyer. Probably charges that for a couple hours work. :eek:
 
Coinbase is down
https://www.yahoo.com/finance/news/coinbase-suspends-trading-amid-cryptocurrency-171719518.html

Coinbase, the most popular site for cryptocurrency transactions in the U.S., has suspended all trading activity today amid a crash in cryptocurrency prices.

A statement on the company's website this morning read, "Due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as soon as possible."

That follows an earlier statement from the company that all buys and sells were temporarily disabled.

A spokesperson fro the company referred me to the company's website for status updates, saying there was no additional information to share.

It's been a tumultuous few weeks for the marquee crypto-currency wallet and transaction company as a late-year surge in transactions have repeatedly felled Coinbase's services.

bbc5c746d18160fdd86483bf7327fee4


The latest suspension follows a crash in cryptocurrency pricing that we first reported yesterday. That drop -- which at one point erased more than $4,000 from the value of bitcoin -- was the biggest loss of value (on a percentage basis) that bitcoin had seen this year.

Since January, the price of the most recognizable cryptocurrency in the world has risen from $998 to nearly $20,000 earlier this week.
 
Ok so I bought LTC days ago with bank acct on coinbase and finally have it in my wallet now and I'm down b/c of the dip. Should I hold onto it and wait for it to go back up or use it to buy altcoins now?
 
tpotda said:
Ok so I bought LTC days ago with bank acct on coinbase and finally have it in my wallet now and I'm down b/c of the dip. Should I hold onto it and wait for it to go back up or use it to buy altcoins now?
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Hodl, buy more, use cash to buy other alts.

Remember buy low, sell high
 

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