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10 days no update? To the top!

ETH tumbling last night filled a bunch of my alt sell orders. After a little lull, this spike brings me to something past x3 my starting ETH value. Bought @550 all the ETH with my tax return (minus some happy money). Now sitting on enough that if ETH gets to BTC all-time-high I could retire (read: work 1-2 days a week and enjoy a larger income).

Current strategy:

End of acquisition phase.
Continue playing ratios, but more conservatively and with more stable coins.
OMG entry target @0.0185
Consolidate coins.
Plan for exit scenarios.


At a cursory glance, taxes don't seem to be a big issue at this point, since I've only gone up in dollar value by not-so-much. I'll still be filing them, of course, but if they were taken right now they'd be a lot less than they would have been had the price remained stable.
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Schwimmy said:
10 days no update? To the top!

ETH tumbling last night filled a bunch of my alt sell orders. After a little lull, this spike brings me to something past x3 my starting ETH value. Bought @550 all the ETH with my tax return (minus some happy money). Now sitting on enough that if ETH gets to BTC all-time-high I could retire (read: work 1-2 days a week and enjoy a larger income).

Current strategy:

End of acquisition phase.
Continue playing ratios, but more conservatively and with more stable coins.
OMG entry target @0.0185
Consolidate coins.
Plan for exit scenarios.


At a cursory glance, taxes don't seem to be a big issue at this point, since I've only gone up in dollar value by not-so-much. I'll still be filing them, of course, but if they were taken right now they'd be a lot less than they would have been had the price remained stable.
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DZOXnGIWkAEezyW.jpg
 
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I can't be the only person that sees the irony in a technology created by a bunch of circle jerking libertarians to circumvent the need for governments and central banks has now resulted in a third world socialist state adopting it as the basis of their new currency.
 
BTC is stuck at 7500


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Your average joe is starting to give up on BTC and is selling it at a loss.

You can tell...BTC is slowly dropping and dropping.

One or two more major drop and these joes will be flushed out. I think there will be another panic sell when it hits the 5,000 level.


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BMBiology said:
Your average joe is starting to give up on BTC and is selling it at a loss.

You can tell...BTC is slowly dropping and dropping.

One or two more major drop and these joes will be flushed out. I think there will be another panic sell when it hits the 5,000 level.


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Click to expand...

It could collapse really fast. Figure most of the HODLers have positions north of 10K. Some of them used credit cards or helocs. Oh, the pain!

Then you have a large fraction still own by the handful of BTC founders with zero cost basis. If one of them decides to liquidate en masse...not a pretty picture. One of them could sell all the way down to 100 dollars and still walk away with a nice stash of cash.

This was epic fraud on a grand scale. The whole premise was dumb. These things were never going to function as currency. Just chalk it up to a decade of zero interest rates. Eventually the yield-starved masses would succumb to frauds such as the cryptos and the Teslas of the world.
 
All of you are too old to understand the potential of the blockchain. It's the wave of the future. It's gonna change everything. Your dollars are backed by nothing. Just worthless pieces of paper. We left the gold standard long ago for fed inflated dollars. Blockchain bros. Blockchain.
 
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Unchained said:
All of you are too old to understand the potential of the blockchain. It's the wave of the future. It's gonna change everything. Your dollars are backed by nothing. Just worthless pieces of paper. We left the gold standard long ago for fed inflated dollars. Blockchain bros. Blockchain.
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Yes I can see how a line of code is as valuable as a piece of paper backed by the US government/military. Makes sense.
 
Too Clever By Half - Epsilon Theory

"Raccoons are simply criminals. And they’re not that smart. I’d put our barn cat up against a raccoon any day on any sort of cognitive test. We think raccoons are clever because they have those anthropomorphic paws and those cute little masks and even a Marvel superhero with its own toy line, but please. Raccoons are takers, not schemers. They’re killers, often for the sheer hell of it. Raccoons steal and kill way beyond what they need, and they do so in a totally wanton, non-clever way. I hate raccoons."

Tom Lee is a raccoon.
 
Unchained said:
All of you are too old to understand the potential of the blockchain. It's the wave of the future. It's gonna change everything. Your dollars are backed by nothing. Just worthless pieces of paper. We left the gold standard long ago for fed inflated dollars. Blockchain bros. Blockchain.
Click to expand...

Waiting for the day somebody has to post more cash to cover the exchange fees to liquidate a crypto. In other words, BTC will have a negative net worth.
 
Musk is most certainly not an idiot.

I've been down on Tesla the car company for some time now...the Germans have learned from his mistakes and are about to bust the whole thing wide open.


But Tesla the energy company is going to be worth billions upon billions. Folding Solar City into Tesla was a dumb idea by Musk. It's going to be held back by the car business. But in the long run...solar panels and interconnected networks of home-based batteries will make up our energy grid.
 
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WVUPharm2007 said:
Musk is most certainly not an idiot.

I've been down on Tesla the car company for some time now...the Germans have learned from his mistakes and are about to bust the whole thing wide open.


But Tesla the energy company is going to be worth billions upon billions. Folding Solar City into Tesla was a dumb idea by Musk. It's going to be held back by the car business. But in the long run...solar panels and interconnected networks of home-based batteries will make up our energy grid.
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Can it survive w/o subsidies?

And this whole terraforming Mars thing. Mars has no magnetic field. Elon is a ****. He's a raccoon adept at stealing gubermint cheeze.
VRJhVn4.jpg
 
Well it was only a matter of time before we got a new investing troll.

This thread is now been taken over, might as well close it.
 
Dr. Galazkiewicz said:
Can it survive w/o subsidies?

And this whole terraforming Mars thing. Mars has no magnetic field. Elon is a ****. He's a raccoon adept at stealing gubermint cheeze.
VRJhVn4.jpg
Click to expand...

Who gets more subsidies: solar companies or gas companies?
 
wagrxm2000 said:
Well it was only a matter of time before we got a new investing troll.

This thread is now been taken over, might as well close it.
Click to expand...

Or we could just ban Dr. Dbag.

Paging mods, paging mods, please come in.
 
Don't make me go Zach Galifinakis on you all and open up a "Between the Mortar & Pestle" thread. First guest would be WVU, followed by wagmgr, and then owelgrad.

maxresdefault.jpg
 
His thread in the finance and investment section will tell you all you need to know, that he adds very little in terms of good financial advice/discussion.

Sour grapes
 
Prepharm1214 said:
His thread in the finance and investment section will tell you all you need to know, that he adds very little in terms of good financial advice/discussion.

Sour grapes
Click to expand...
Oh wow, that was earlier this month. This explains why he thought it was stupid to buy S&P500.
 
Unfortunately just like that one troll we had a year or so ago, posting random nonsense isn't enough to get banned.

Carol is alpha.

Just going to have to ride it out until they get bored.
 
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wagrxm2000 said:
Unfortunately just like that one troll we had a year or so ago, posting random nonsense isn't enough to get banned.

Carol is alpha.

Just going to have to ride it out until they get bored.
Click to expand...

Did carol get banned? Her/his trolling was supremely stupid.


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WVUPharm2007 said:
Yeah, it's the same poster. They are in their 4th screen name. I can tell by their writing style.
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Ha, who else was this person?

Definitely has the same style as Carol. Some random thought then a photo or video.
 
To those who still own crypto currencies....are you going to keep on holding?


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BMBiology said:
To those who still own crypto currencies....are you going to keep on holding?

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I'll HODL til $200 then it will spike to $500k. HODL! :arghh::lol:
 
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BMBiology said:
To those who still own crypto currencies....are you going to keep on holding?
Click to expand...

I wouldn't say I'm holding, but I'm the same on money value from when I started. + 3 times the number of coins, however, so if it does go up I'll be pulling my initial investment and play with over twice what I started with of the house's money.

Right now I have a buying reentry order for FUN, looking to long OMG/ETH at 0.018 entry, and an REQ and DGD sell set for any spikes. I have enough raw coins now that my last short netted me almost an entire ETH from last night to midday today. My lofty goal is to have 100 ETH in a month or two. That'd be nice...
 
I guess everybody's seen the story of the crypto kiddie with a huge tax bill. Likely he didn't set any winnings aside for the tax liability but plowed the whole pile back into altcoins near a peak. That's the thing, the demographic into cryptos is not likely to be hip to the whole capital gain concept. What worries me is the IRS could be real pricks for the guys that say bought BTC at 5K then sold it at 12K. Even with cost basis documentation I could very well see an agent intimidating a kid into paying the tax on the whole 12K, IRS will just not recognize what these guys have as being legitimate 1099s.
 
Anybody still buying? Anyone planning to buy? 5000 level is the next battleground


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If I get the money, I don't see why not. Enjoying the ride for now.
 
BMBiology said:
Anybody still buying? Anyone planning to buy? 5000 level is the next battleground


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Click to expand...

Might want to wait until it actually breaks support.

Remember buy at 1000.
 
Too long since Updoot!

Getting on the wrong side of the LTC/ETH ratio from a day or two ago. I'm mostly in REQ for some serious short/mid gains, though that's at a loss too due to the last couple of days, as well as some serious coin in VEN and LINK. Excited to see how that plays out. ICX scored me a coin and-a-half a week or two ago and entered the remainder in FUN.

ETH value shooting up has made the number of coins I have gained show some serious profit were I to cash out now. Avg buy in cost if I include the coins I traded up to is $434 per ETH although all of my purchases have been between the $500-$1000 mark, save for 1 ETH I bought for the daughter (pic in avatar) for her first birthday @370, which will be held in a separate account to fund her future endeavors, whatever they may be.
 
I linked some videos on the value/use cases of blockchain earlier. Discussion has centered around the inherent value of cryptocurrency, so I'd recommend those who are interested in a fantastic, incisive read on that to take a look at this: An Investor's Take on Cryptoassets. Written by an ex-KKR/McKinsey value investor. Very well written and informative. Long story short: an investor with a long view (years) may win with store of value coins. For platform/utility coins, the lack of IP and the efficiencies realized by blockchain will create a heavily competitive race to the bottom tied to performance metrics. Payment coins must have store of value properties or they too will not accrue value to token holders.

For anyone looking to enter: don't listen to technical analysis in the crypto space - it's mostly bunk. 'Whale watching,' sentiment analysis (inclusive of Google Trends), and fundamental analysis (inclusive of marketing, network activity) are what win.

Other great links:
NVT Signal - a measure of network value to network transactions. Too high = crash imminent.
Bitcoin Trends1 and Bitcoin Trends2 - check # transactions, # new addresses, active addresses, volumes, etc.
Coindays Destroyed - monitor movement of bitcoin from wallet to wallet. Spikes = lots of bitcoin being moved potentially to exchanges
Fear Index - a measure of how fearful and greedy people are currently. Good contrarian indicator.
A Paper on Bitcoin Bubbles - written by very esteemed physicists/economists. Not a light read.
A Paper on How Whales Manipulate Markets - written by a whale who pumped and dumped Doge Coin

P.S. if anyone's looking for a medium-term 1-6 month hold, buy Ambrosus. :) It will likely be VeChain's current market cap soon enough. Recently hired a founding member of Cartoon Network and ex-CMO of Versace as CMO of the company. Partnerships with huge companies to be revealed. DYOR.
 
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Just bought POA - #124 in overall cap - recently listed on Binance (couple of months ago) - looking for a pump any day - then I gotta know when to dump!
 
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