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bitcoins

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Smash Allen said:
what's the over / under on a portion of the crypto bubble being south korea cash flight?

i'm ready to invest once a crypto currency etf is introduced on nasdaq and after the initial 1q18 correction

also am curious to know the anticipated payback period for the $9,000.00 in cash outlayed in 4q17 which won't be ready to operate until 2q18
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Smash Allen said:
south korea is 12% of global trade volume alone...they are third, under japan of 50% and usa 27%

next year huobi is coming back online, it used to account for 60% of global trade volume before china halted all speculative trading. let me say that again...china...ended speculative trading on crypto currencies, went hush hush for a few months, and now are bringing the state sponsored huobi to japan's exchange market.

this is a run by asia

you paid for 5x$1500 mining machines which you won't have until april 2018, just wondering how long you expect for the miners to pay for themselves
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I believe China saw the problem of fraudulent ICO's, and wanted to put a halt to it temporarily until they had some regulations in place. I am definitely for that. They never outlawed cryptocurrency possession or mining. They explicitly said so. The American media took that as China banning bitcoin. Nothing could be farther from the truth. They didnt ban speculative trading at all just icos until now.

As far as the miners I figure I got them pretty cheap. And I just transferred btc to another wallet so I didnt incur a tax liability. I never paid with cash. The deal was done purely with bitcoin. Priced in btc not usd. Im going to keep three for myself. Theoretically they should mine me 1.09 each a year. Power will cost me about $100 a month each. Bitcoin would have to drop to about 1200 each before its no longer profitable.
 
Climber said:
Anybody remember junk bonds?
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This was said about Bitcoin in 2015...sorry that was some time ago if you don't know the date.

Instead of the poopooing you could have invested $10,000 in Bitcoin in 2015 at $333.00 and now had $510,000.
 
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Jeez, what a crazy freakin week. It's so volatile I don't know what to do.

I'm tempted to buy alt coins while they're down...but I just don't know.

My small initial btc investment has already doubled. Don't know whether to put more in there or what. Feels like gambling since I'm not spending all day trading highs and lows.
 
Just keep in mind taxable events like selling Btc profit to buy alt coins and short versus long term capital gains
 
Smash Allen said:
Just keep in mind taxable events like selling Btc profit to buy alt coins and short versus long term capital gains
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Bada bing. Back in the dot com madness, there were many small traders who lost their asses on taxes.

Scenario: 12-29-17, sell for a $100k profit. That's a taxable event. You will probably owe $20 to $30k in tax. Depends on income level and short or long term.

Three days later, buy $100k in bicoin. Price drops from $16k to $8k in two days, you sell to cut loss. Though your newfound $100k is now $50k, you still owe taxes on the $100k profit from two days ago.
 
jt2 said:
You are aware that the article you linked is an opinion piece, right?
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So are the articles saying that it's ruining the planet. There Is no reason to talk to you about this as you have already made up your mind. Also there were facts in the article that you are purposely ignoring.
 
Bubba_s said:
I thought you said they would spike after a correction.
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They did.

LTC is at $129 and ETH is at $476.

BTC is back at $16,000

When BTC is on the rise, folks dump out of alt coins to ride the wave and sell at the top. When it starts going down, they put their money back into the Alts.

I've done this a few times and have had the rise of BTC pay for more ETH and LTC while they're lower.

LTC is at an all time high right now.
 
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