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Happy Hour Crypto Thread.

Thread has been quiet since April...Big changes since then!

Yea I just looked for the first time in a while yesterday. Crazy stuff. If someone had the balls to buy a lot in the spring they're probably very happy with themselves.
 
I would like to take this opportunity to wish the Super Mario Brothers a Happy Twenty-fifth Anniversary.

Twenty some years ago I purchased a cartridge, and since I have amassed trillions of gold coins, all in pursuit of that highly prized extra life. It has been a thrilling adventure and a character building enterprise.
 
My friend recently told me he got audited by the IRS and they told him he had to pay tens of thousands of dollars in taxes because of his crypto trading, even though he only netted like $200 from it all lol. So he's trying to sort that out now.

Something I've wondering though is, now that my investment is net positive again...if I sell only the amount I originally put in back in 2017 is that going to look like income for me that I need to pay taxes on, even though it was a net zero? The fact that the original investment was years ago is what's making me wonder.
 
My friend recently told me he got audited by the IRS and they told him he had to pay tens of thousands of dollars in taxes because of his crypto trading, even though he only netted like $200 from it all lol. So he's trying to sort that out now.

Something I've wondering though is, now that my investment is net positive again...if I sell only the amount I originally put in back in 2017 is that going to look like income for me that I need to pay taxes on, even though it was a net zero? The fact that the original investment was years ago is what's making me wonder.

Coinbase was sending out the wrong tax forms...This is why many are getting hit with IRS letters and audits...Their forms were reporting everything as gains on cash outs, even on the losses. I believe they said they would not be sending that form this year?!

Coinbase works closely with the IRS now regarding their US clients, so unless they get their shit together, many more are going to be getting hit by the IRS.
 
I think it will increase certainly about 20k. Some big companies investet in Bitcoins like Paypal.
But only invest your money what you don't need overnight. Because having to turn the coins into cash quickly can be associated with a high loss.
I lost about 90% in Dezember 2017. I tried to spread the risk by buying different Coins. But the Bitcoin is an indicator for nearly all coins. If the bitcoins goes down the other coins also went down.
 
Bitcoin sets a new record high. I am hoping Ethererum gets onboard and climbs more.
 
Bitcoin sets a new record high. I am hoping Ethererum gets onboard and climbs more.

Crazy how whales (I assume) could manipulate it to drop from almost 20k to 16k on Thanksgiving. I was expecting that to be the next big crash.

If Eth gets back to all time highs as well that'll put me at about 200-220% of my original investment, in which case I would at the very least take out that initial investment.
 
I never seem to be able to buy Bitcoin at the right time. Super frustrating.
 
Me too
I bought some a couple hours ago and during the last hours it dropped 1k

I learn to hold for awhile. Buy the big dips and keep for a long period. I had always made money this way. I don't think we had even seen the highs yet.
 
I learn to hold for awhile. Buy the big dips and keep for a long period. I had always made money this way. I don't think we had even seen the highs yet.

I agree, but if you look back at this thread in 2017-2018 the predictions are pretty hilarious and all were wrong lol
 
I learn to hold for awhile. Buy the big dips and keep for a long period. I had always made money this way. I don't think we had even seen the highs yet.

True story. If I held it dezember 2017 it would be a profit.
Regarding the other coins (not the "main coins" - I mean coins like dogecoin, redcoin) ... it's a different situation. The also could fall to zero.
I remember the situation of a coin made frome on of the biggest trading platforms. It was around 30-40$ and than the guys steel the coins and money from the user who park it on their wallet and it plummet around 0,01$

But in my mind the big profit is only possible if you invest in such coins like ripple (just an example, please don't buy it).
The bitcoin is such high it won't double in the next month. Verge ist so low that it could makes 500% in a day. But it fluctuates so much and it's just gambling.
 
I agree, but if you look back at this thread in 2017-2018 the predictions are pretty hilarious and all were wrong lol

I agree and things were moving fast. I learn from past mistakes and learn to be more patient and hold a lot longer. I also watch big dips and try to buy more. I invested in ETH a lot due to better growth potential then Bitcoin and many platforms are based on it.
 
Anyone here ever mine crypto? The whole concept makes no sense to me, but some are making big bucks off of it.

The new Nvidia graphics cards are all sold out now since they came out earlier this year.


A few years ago there was a guy that bought about 500 video cards, each one had a retail price of about $800. So full price that would be $400,000, and that's just the cards. He spent more on a motherboard and the rest of each unit. Apparently they put mayne 4 video cards in each chassis. Not sure what else goes into the box.

Wondering if someone can still make money doing it on a smaller scale.
 
Anyone here ever mine crypto? The whole concept makes no sense to me, but some are making big bucks off of it.

The new Nvidia graphics cards are all sold out now since they came out earlier this year.


A few years ago there was a guy that bought about 500 video cards, each one had a retail price of about $800. So full price that would be $400,000, and that's just the cards. He spent more on a motherboard and the rest of each unit. Apparently they put mayne 4 video cards in each chassis. Not sure what else goes into the box.

Wondering if someone can still make money doing it on a smaller scale.


I like to see his electric bill. He might just selling for profit too.
 
As pesty4077 said, you have to calculate exactly.
In countries with super low electricity costs it could be a good idea.
Even the graphic cards got extremely expensive in the last years because of those guys.
Without to calculate it I would mean bitcoins is not worth to mine anymore if you have to buy the whole stuff.
 
I'm wondering that nobody wrote here about the dramatically increasing in the last few days.
Today their is a short reset but now more and more companies see the bitcoin as one part of the future. Also Elon Musk said that maybe he will change the capital of Tesla into Bitcoins (I think it won't happened but only the idear of it show something is going on)
 
ETH jumped over the 700 mark. I am feeling happy, but won't sell anything yet. I think we have only begun to see the climb. Bitcoin hits over 28,000. People were laughing when they were making predictions of 25K to 50K.

Few of us hung on when things got tough. I don't think we even begun to see the market yet. If they ever changed from Fiat to Digital, some people will be turning into millionaires who invested.
 
I agree, but if you look back at this thread in 2017-2018 the predictions are pretty hilarious and all were wrong lol

This is me, around that time I had some money to invest and jumped into Crypto. Followed the advice being given out and essentially bought the dips from the current highs all the way to the lows. My $11.5K investment turned into about $2k.

If anyone can remember Iungo, I bought $1k and its worth about $3 today lol (I can only laugh).

I turned everything into Eth and im now sitting on just over $6K, still hurts alot but not as much. Hopefully it can still keep tracking along, I have essentially thought of it all as a loss so happy to let it sit there for another year or so and see what happens.
 

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