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Lambofan35

Is anyone in the BITCOIN market?

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just ridding the wave. look back in history and it's done this same thing over and over.

 

I don't think the actual Market Cap value is the true Value.. These Alt coins are wayyyy to hard to get out of as quickly as money was being taken out.. Somehow the Altcoin value is tied in with BTC and ETH value. It's amazing how when the market is going up all the exchanges are "too overloaded" to handle the volume, but yet with the market going down 300billion in 2 days I didn't hear anything about it..

 

There are definitely things about the crypto market I don't like, but I do know most of the players are gamblers and their money won't stay on the sidelines for long. It always gets dumped back in.

 

That’s the issue for me, it’s gambling not business and I’ve never gambled, I don’t feel comfortable with it because it involves very little logic with the rest being pure luck.

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That’s the issue for me, it’s gambling not business and I’ve never gambled, I don’t feel comfortable with it because it involves very little logic with the rest being pure luck.

I 100% understand..

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No interest in talking about Cloud Mining?

http://www.cloudminingreviews.com/

 

I'm going to look into this as an alternative. While your computer isn't utilized, just to be on the safe side use a stand alone PC and place it on a different subnet so it's isolated from the rest of the computers at my house.

 

The thing is finding a cloud hosting company that's not a scam. Everything I've read so far recommends Genesis.

 

I'm interested in cloud mining.

 

But it seems like Genesis is completely sold out.

 

What do you think about hashflare or crypterra?

 

Any good?

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I'm interested in cloud mining.

 

But it seems like Genesis is completely sold out.

 

What do you think about hashflare or crypterra?

 

Any good?

 

Hashflare is a scam. Genesis appears to be good. The thing about Genesis is that they appear to be buying legitimate machines and will only let you buy if there are legitimate contracts. Hashflare just continues to take your money. They have a few machines. Or at least a few pictures of a few machines. But if you look at pictures of their supposed datacenter they show a couple hundred machines and I have seen people's accounts that supposedly have 165 machine equivalents that they are paying for. I personally think hashflare is a Ponzi like bitconnect and davor. Not saying you can't make money on the Ponzi, but they do fail over time.

 

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Quiet in here.

 

 

Thoughts on what's happening?

 

BTC has fallen back to more sane levels? I wouldn't be surprised if it drops more, of course it's just a wild guess.

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This is more or less the trend it’s been following since offering. A big spike then retests and levels off. It’s done this several times in the past with larger leaps than this one, this one just stands out now that it’s in the thousands and not $1s. I bet we get another nice bump up April

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Quiet in here.

 

 

Thoughts on what's happening?

 

 

Thoughts from my post back on December 17, 2017.

 

Dec 17 2017, 05:57 AM

 

Post #571

 

I guess I am one of the small minority here in that thinks this whole thing is nothing but a scam.

Six months ago there were roughly 800 crypto currencies, as of this morning there are 1360 of them.

While I believe BTC, ETH, LTC and a handful of other ones will be around in a couple of years.

I also believe that the ever going list of other ones will simply fade away over time and become stagnant.

It would not surprise me what so ever if there was a significant pull back across the board on all of these after the new year as people that have been holding them in excess of one full year lock in their profits in 2018. I would categorize these type of high risk investors as the rinse and repeat speculative investors that will buy and hold for at least one year in order to minimize their tax liability to 20%, otherwise it just doesn't make sense.

This is the only way I could see buying into this circus with a small amount of some through away money.

The whole risk vs. reward if holding for a short period of time just does not make sense as it would result in a significant increase in ones personal tax liability.

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BTC has fallen back to more sane levels? I wouldn't be surprised if it drops more, of course it's just a wild guess.

 

I see BTC going back and testing the $6,000.00 low it made back on November 13.

After that it might bounce back a bit, only to sell off even more. IMO

I would not be surprised if it retreats all the way back down to the $2,500 dollar area and then trades sideways for months.

Sincerely Vic

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In business things have to logical, add up and make sense, when things do not make sense you best to stay away.

 

Greed is the worse trait to poses, greedy people are easily manipulated and a lot of manipulation happen when people can take advantage of greed because generally logic and common sense flies out the window, there will always be some sort of short therm gain depending on where in the cycle you are lucky to be placed but there is no longevity, IMO longevity, steadiness is what you need in business because that leads to stability and therefore comfort.

 

 

 

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It looks like the market are low like they where back in 2014...fortunately when I make investments the money in my mind is already spent. I have a suspicion the markets will bounce back up in within 6 months, so for now, all my cash in cryptos is in a holding pattern, though I may scoop up some more. If they go down then it's fine as I consider the cash gone, if they go up it'll be a very happy day for me.

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I see BTC going back and testing the $6,000.00 low it made back on November 13.

After that it might bounce back a bit, only to sell off even more. IMO

I would not be surprised if it retreats all the way back down to the $2,500 dollar area and then trades sideways for months.

Sincerely Vic

Dude, get out of my head.

 

I have been telling people that for the last month or so.

 

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If they go down then it's fine as I consider the cash gone, if they go up it'll be a very happy day for me.

 

 

Sounds like you're playing roulette without the free casino drinks.

 

 

 

 

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In business things have to logical, add up and make sense, when things do not make sense you best to stay away.

 

Greed is the worse trait to poses, greedy people are easily manipulated and a lot of manipulation happen when people can take advantage of greed because generally logic and common sense flies out the window, there will always be some sort of short therm gain depending on where in the cycle you are lucky to be placed but there is no longevity, IMO longevity, steadiness is what you need in business because that leads to stability and therefore comfort.

 

 

Please allow me to summarize this thought,

 

“The greedier they are the harder they fall”

 

 

Hope all is good with you ,

 

Eric :)

 

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Coinbase Issues 1099s: Reminds Users to Pay Taxes on Bitcoin Gains

 

https://www.investopedia.com/news/coinbase-...&yptr=yahoo

 

Anyone know how this works?

 

Lets say I would put $10K into coinbase and then transfer it all to Bittrex and it just sits in Bittrex for 5 years and never goes back to coinbase, and I never made any money in coinbase, what would the resulting taxes be in that?

 

And if I transferred $10K back to coinbase and then back to my checking account what then?

 

Even if it climbed to a billion in Bittrex coinbase wouldn't know.

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Anyone know how this works?

 

Lets say I would put $10K into coinbase and then transfer it all to Bittrex and it just sits in Bittrex for 5 years and never goes back to coinbase, and I never made any money in coinbase, what would the resulting taxes be in that?

 

And if I transferred $10K back to coinbase and then back to my checking account what then?

 

Even if it climbed to a billion in Bittrex coinbase wouldn't know.

 

I read that these were 1099-K forms payment transactions. https://www.irs.gov/pub/irs-pdf/f1099k.pdf to business users and some GDAX folks win high volume trades.

 

In the regular sense, of you get an incorrect 1099 you go back to issuer and ask for an amendment. Letting an erroneous 1099 go by can increase your audit risk.

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I read that these were 1099-K forms payment transactions. https://www.irs.gov/pub/irs-pdf/f1099k.pdf to business users and some GDAX folks win high volume trades.

 

In the regular sense, of you get an incorrect 1099 you go back to issuer and ask for an amendment. Letting an erroneous 1099 go by can increase your audit risk.

 

I would not consider over 200 trades high volume, nor would I consider a $20,000.00 dollar gain a big gain. However the IRS will, and yes it appears that individuals that break these thresholds and use coinbase are receiving these 1099's as well. Vic

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I would not consider over 200 trades high volume, nor would I consider a $20,000.00 dollar gain a big gain. However the IRS will, and yes it appears that individuals that break these thresholds and use coinbase are receiving these 1099's as well. Vic

 

But I have never really traded anything in coinbase, I have always transferred it to somewhere else. So I have made $0 in coinbase.

 

Will I not have any liability?

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