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Posted: 5/8/2021 3:02:49 PM EDT
[#1]
Yes.
A part of not an important part if for no other reason than diversification. I threw several thousand at crypto ((BTC, ETC, LTC, DOGE) early on…it is now a significant portion of my overall portfolio. Much more than I would like but I also don’t want to suffer the tax consequences of selling any off. |
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Posted: 5/8/2021 3:15:43 PM EDT
[#2]
Quoted: I have 2 sons who are getting into crypto…[snip] Thoughts? Another good argument for crypto: kids embrace it. |
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Posted: 5/8/2021 3:17:09 PM EDT
[#3]
I invested less than 400.00 in Doge back in January at .02 a coin for 19,000 coins. It turned into a little over 14,000.00 in 4 months. My intentions were to buy before that when it was less than a penny but I kept putting it off.
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Posted: 5/8/2021 3:24:29 PM EDT
[#4]
I also bought 37 million Safemoon coins for 160.00 on Tuesday of this week.....now worth 360.00. It's all a gamble but kinda fun. I've already got a separate retirement fund....this is more or less a hobby with a huge potential payoff.
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Posted: 5/8/2021 4:23:04 PM EDT
[#5]
I'm looking at crypto as a future investment, not gambling. Though I understand nothing is certain.
It has been suggested to me by one son that bitcoin is more of a stable long term wealth-holding asset. He named 2 other coins that are used more often for day to day goods, though I can't remember what it is now. My other son has been talking to too many people who made a bunch of money on volatile crypto. Fortunately, he fears losing more than he is eager to make a quick buck. |
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Posted: 5/8/2021 6:22:43 PM EDT
[#6]
What I’m reading is that crypto should be treated more like property than you would a stock. How that works escapes me currently.
I think that etherium is where it’s at based on sources I trust. It’s $3500/coin right now. Expected to be worth 10-15 times that in 10 years. I’m new to it all, so I’m not super comfortable going all in. |
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Posted: 5/8/2021 9:30:13 PM EDT
[#7]
I bought Etherium a month ago at about 2400....it hit almost 4000 today.
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Posted: 5/8/2021 10:03:11 PM EDT
[#8]
Quote HistoryQuoted: Yes. A part of not an important part if for no other reason than diversification. I threw several thousand at crypto ((BTC, ETC, LTC, DOGE) early on…it is now a significant portion of my overall portfolio. Much more than I would like but I also don’t want to suffer the tax consequences of selling any off. Do you hold them in cold wallets? If so, why not list some for sale on the EE? Or Craigslist? 8n I would buy some Doge. I pay you with Zelle, and send you my receive address. You generate a payment in your wallet and send me Doge from your wallet. |
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Posted: 5/9/2021 4:00:41 AM EDT
[#9]
Quote HistoryQuoted: Do you hold them in cold wallets? If so, why not list some for sale on the EE? Or Craigslist? 8n I would buy some Doge. I pay you with Zelle, and send you my receive address. You generate a payment in your wallet and send me Doge from your wallet. None of that will escape bank/IRS scrutiny…and taxes. |
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Posted: 5/9/2021 4:17:56 AM EDT
[#10]
I just bought Trias a few minutes ago. You guys should look into it. Fucking huge potential will hopefully best Bitcoin.
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Posted: 5/9/2021 4:23:33 AM EDT
[#11]
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Posted: 5/9/2021 2:12:54 PM EDT
[#12]
I tried to talk my dad into crypto back in 2013.
He finally caved this year and bought BTC at ~$14k. I will never stop teasing him about missing his chance to buy at $200...ever. |
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Posted: 5/10/2021 10:02:04 AM EDT
[#13]
I remember talking about BTC 10 years ago when it was cheap.
And friends making a losing money 2-3 years ago. I just threw a couple $k at different coins last week. Small potatoes but who knows in a few years. Make sure the swings won’t bother you. |
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Posted: 5/10/2021 10:03:51 AM EDT
[#14]
Double tap
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Posted: 5/10/2021 10:48:36 AM EDT
[#15]
When I feel like I'm missing out and have a strong desire to buy an investment. I know that's exactly the wrong time to buy.
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Posted: 5/10/2021 11:09:41 AM EDT
[#16]
Quote HistoryQuoted: When I feel like I'm missing out and have a strong desire to buy an investment. I know that's exactly the wrong time to buy. I've heard this more than once, from successful people. But, I've also heard that the worst thing to do is not buy anything. And also that long term buying is not similar to day trading or swing trading. 5 years from now do we all go "crap, I missed out."? |
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Posted: 5/10/2021 11:38:30 AM EDT
[#17]
Quote HistoryQuoted: I've heard this more than once, from successful people. But, I've also heard that the worst thing to do is not buy anything. And also that long term buying is not similar to day trading or swing trading. 5 years from now do we all go "crap, I missed out."? |
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Posted: 5/10/2021 11:44:05 AM EDT
[#18]
A few percent, yes.
I should probably sell some BTC, but I keep thinking it will hit $100k in the next year and the taxes are going to suck. |
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Posted: 5/10/2021 11:49:24 PM EDT
[#19]
Quote HistoryQuoted: I've heard this more than once, from successful people. But, I've also heard that the worst thing to do is not buy anything. And also that long term buying is not similar to day trading or swing trading. 5 years from now do we all go "crap, I missed out."? Quote HistoryQuoted: Quoted: When I feel like I'm missing out and have a strong desire to buy an investment. I know that's exactly the wrong time to buy. I've heard this more than once, from successful people. But, I've also heard that the worst thing to do is not buy anything. And also that long term buying is not similar to day trading or swing trading. 5 years from now do we all go "crap, I missed out."? This is what happened to me. I bought doge last year at .003 then sold at .008. It jumped up to a penny and I thought I already missed the train. Then it went to .10, .30, .74. I am currently in at around. .65. I feel that it will come back around, just going to sit on it for years. Never know, amazon might start accepting it as payment and it goes to $100 |
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Posted: 5/11/2021 10:23:13 PM EDT
[#20]
I like more sure things. Businesses, real. Estate. Im not against it but i won't be doing it.
I did miss a great chance to go in on a bitcoin mining deal with a friend. He needed the money, was a pc nerd. That was very early on. That did teach me to think outside the box. Rather than being a grinder now I'm building businesses. But young kids liking it or only for diversity are dumb reasons. |
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Posted: 5/12/2021 1:35:14 AM EDT
[#21]
FOMO is real. That said look at theta it’s the only coin that makes sense to me.
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Posted: 5/12/2021 8:58:34 AM EDT
[#22]
Quote HistoryQuoted: When I feel like I'm missing out and have a strong desire to buy an investment. I know that's exactly the wrong time to buy. There have been plenty of chances to invest in crypto when people thought it was a stupid. 2012, 2015, 2019... There will be another time like that in the next year or two. The question will be if you pull the trigger next time. I said it it another thread that it's easier to buy high than it is to buy low. Buying low requires you to basically take the opposite view of the rest of the market. I picked up lots of crypto in 2015 and 2019. |
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Posted: 5/12/2021 9:02:20 AM EDT
[#23]
Quote HistoryQuoted: This is what happened to me. I bought doge last year at .003 then sold at .008. It jumped up to a penny and I thought I already missed the train. Then it went to .10, .30, .74. I am currently in at around. .65. I feel that it will come back around, just going to sit on it for years. Never know, amazon might start accepting it as payment and it goes to $100 Quote HistoryQuoted: Quoted: Quoted: When I feel like I'm missing out and have a strong desire to buy an investment. I know that's exactly the wrong time to buy. I've heard this more than once, from successful people. But, I've also heard that the worst thing to do is not buy anything. And also that long term buying is not similar to day trading or swing trading. 5 years from now do we all go "crap, I missed out."? This is what happened to me. I bought doge last year at .003 then sold at .008. It jumped up to a penny and I thought I already missed the train. Then it went to .10, .30, .74. I am currently in at around. .65. I feel that it will come back around, just going to sit on it for years. Never know, amazon might start accepting it as payment and it goes to $100 There are few useful fundamental measures in crypto but one of them is understanding market cap and how that relates to the future maximum potential for a cryptocurrency. Like if you can only look at one thing, this would be it. $100 DOGE would imply a market cap of $12.9 Trillion dollars... |
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Posted: 5/15/2021 2:17:43 AM EDT
[#24]
I ran an F500 company and I just don’t understand it because it’s outside everything I experienced. No reason I couldn’t toss a couple hundred at it without even understanding
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Posted: 5/15/2021 11:31:42 AM EDT
[#25]
Quote HistoryQuoted: What I’m reading is that crypto should be treated more like property than you would a stock. How that works escapes me currently. Per the IRS it's treated like a stock for tax purposes, which is going to make using it to pay for stuff a PITA since you will want to track which coin(s) were sold/traded so you can properly calculate the basis/gain on them for your income tax return. https://www.wsj.com/articles/bitcoin-irs-comes-for-crypto-investors-who-havent-paid-their-taxes-11620937095 |
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Posted: 5/16/2021 8:24:57 AM EDT
[#26]
Quote HistoryQuoted: Per the IRS it's treated like a stock for tax purposes, which is going to make using it to pay for stuff a PITA since you will want to track which coin(s) were sold/traded so you can properly calculate the basis/gain on them for your income tax return. https://www.wsj.com/articles/bitcoin-irs-comes-for-crypto-investors-who-havent-paid-their-taxes-11620937095 |
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Posted: 5/16/2021 8:37:26 AM EDT
[#27]
Quote HistoryQuoted: There are few useful fundamental measures in crypto but one of them is understanding market cap and how that relates to the future maximum potential for a cryptocurrency. Like if you can only look at one thing, this would be it. $100 DOGE would imply a market cap of $12.9 Trillion dollars... That's not going to be a problem with out current monetary trajectory. LET THE PRINTER RUN. |
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