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bitcoins

mercurial said:
I particularly wonder about all the crypto kiddies that traded their way into a paper crypto fortune in 2017, which would incur a huge tax liability because of short term gains, and then HODL'ed into huge capital losses in 2018 that can't offset their tax liability.

Maybe most of these people never touched USD in their crypto trades, and just didn't report their gains in 2017?
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I worry about those folks as well. Most of the people I'm involved with never actually got out of crypto. That is why tether was such a huge success. It was stable and matched the US dollar. Investors would do their day trading in whatever crypto they wanted and slept in tether so they never had to get out of crypto and the price didn't change because it was a stable coin.

There was an epic money making opportunity a few weeks ago when tether shit the bed and all the whales had to get out or incur around 25% losses. That caused BTC to skyrocket making a lot of money for investors that were ready for it. That was the end for tether, a crypto that was stable for a very, very long time.

Now we have stablecoin. It's just the next evolution of a coin that is matched to the US dollar, for now....
 
Entoptic said:
Won’t offer up any tips on investing but you’ll negatively comment on it and the people talking about it like you know what’s up. Why is that? I find these sort of comments so funny because the people I know that are making big money in crypto are all stock/futures investors.

How’s that stock market doing for yah? Huge dip recently. Did you make any money?
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Yeah I’m the only one who’s ever put money in stocks.

People making money on crypto are making it off the gullabity of those who thought it was going to the moon in value. Weren’t you one of those.
I don’t need to know what’s up to recognize a scam.
 
Good thing that doesn't exist elsewhere. Pump & dump must be a phrase from the pron industry..or plumbers, or crypto, but definitely *not* elsewhere.
 
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Entoptic said:
I worry about those folks as well. Most of the people I'm involved with never actually got out of crypto. That is why tether was such a huge success. .
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Tether was a huge success? How so? It's essentially just electronic USD (assuming that it's not itself a big scam as some fear). By what measure is it a 'huge success'?
 
Every time I listen to somebody try to sell me on their crypto angle, I'm reminded of how trusting people are, how easily they are duped and how little thought most people give to managing their money. Just the other night I had an acquaintance tell me he was investing in crypto because 'a year ago Warren Buffett was negative on it, but now he thinks it's pretty interesting'...
 
there are news articles everywhere on the subject. it's okay to gamble but just call it what it is. what responsible member of the household would put all their eggs in crytocurrency.


it is easy to spot a seller since they try to appeal to any ounce of greed in you that may drive you to act on it ... gamblers that go to casinos only let you know when they have won big, but they don't tell you how much they have lost over their lifetime (same tune) ...

you're not the only one who has been approached by a desperate friend/relative trying to sell you a scheme. over 15yrs ago, was approached by blood relatives who tried to sell me a pyramid scheme. boy, did i wake up after that. can't even trust your own relatives ...
 
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Archimedes said:
Tether was a huge success? How so? It's essentially just electronic USD (assuming that it's not itself a big scam as some fear). By what measure is it a 'huge success'?
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Huge success for investors ability to not transfer crypto in to fiat and keep the market alive.

Archimedes said:
FTFY. Bitttttttcooooonnnneeecccttttttt!!!!
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Great scam, great story as well.

I grow old of all the nay sayers. But this is barf so let’s go.
 
Blankpage said:
Yeah I’m the only one who’s ever put money in stocks.

People making money on crypto are making it off the gullabity of those who thought it was going to the moon in value. Weren’t you one of those.
I don’t need to know what’s up to recognize a scam.
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You do understand that someone always loses in the stock market right?

I wonder how many people lost their ass with nvidia, Apple, and pge in the last two weeks?

What’s the difference? One is a legal scam and the other is the alternative? Maybe that’s it?
 
In the most idealistic form of the stock market trading, people *only buy* stock in businesses they believe in, the company uses those funds to improve the business, the business slowly increases in value, the buyer sells for a profit to a new person and the process continues. In this situation, nobody loses.
 
mercurial said:
I particularly wonder about all the crypto kiddies that traded their way into a paper crypto fortune in 2017, which would incur a huge tax liability because of short term gains, and then HODL'ed into huge capital losses in 2018 that can't offset their tax liability.

Maybe most of these people never touched USD in their crypto trades, and just didn't report their gains in 2017?
Click to expand...

Well when you can't read a balance sheet or PNL and think there's gonna be some magical line item in the President's tax return for declaring "theft", what do you expect?
 
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AwakeNAlive said:
read it. you might learn something from it ...
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I did read it and was shocked you would link something so low level. If you learned from it great but what I was trying to say is it’s basic investing knowledge.

Why would you say those things about the people involved in crypto and crypto itself?
 
byke said:
In the most idealistic form of the stock market trading, people *only buy* stock in businesses they believe in, the company uses those funds to improve the business, the business slowly increases in value, the buyer sells for a profit to a new person and the process continues. In this situation, nobody loses.
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Actually a lot of people lose out and what your describing just doesn’t happen that often.

Please don’t try and paint the stock market as something it’s not.

I’m all for the markets but your idea almost never happens because in order for there to be a winner a loser has to be involved as well.
 
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