Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Nordic wrote:Every time this thread gets bumped I check the price.  Yep still good.

I'd it ain't tTy bumping it you can be rest assured it's closer to $0.00 than $1000.....

kingstonlake wrote:

Nordic wrote:Every time this thread gets bumped I check the price.  Yep still good.

I'd it ain't tTy bumping it you can be rest assured it's closer to $0.00 than $1000.....

I do have a bit of cash in Bitcoin still. I hope it goes back up at some point. I also like getting Ty all mad at everything.

Watch Out Pylon! wrote:

kingstonlake wrote:

I'd it ain't tTy bumping it you can be rest assured it's closer to $0.00 than $1000.....

I do have a bit of cash in Bitcoin still. I do hope it goes back up. I also like getting Ty all mad at everything.

I hear ya. He takes it all personal, lol. I'm sure he knows he's coming across as a salesman who has stock in his own company. Funny none the less.

I'm just tryna tell you all the troof. Keep buying this shit. BTC, LTC and ETH. They are going to be the big winners long haul. Maybe Veratasium. I don't have any of that yet. You'll see, kingston. hopefully one of these days you will...... I just bought another LTC.

tTy wrote:I'm just tryna tell you all the troof.  Keep buying this shit.  BTC, LTC and ETH.  They are going to be the big winners long haul.  Maybe Veratasium.  I don't have any of that yet.  You'll see, kingston.  hopefully one of these days you will...... I just bought another LTC.

There's a crypto I've been paying attention to. In December it was .0039 today it's about .06 with a high of .25 in the span. Dumping it at .25 would have net a $6300 profit on a $100 investment.

Are krypto gains taxable?

The Pantry wrote:Are krypto gains taxable?

Good question

Yes. I think over 20k.

The Pantry wrote:Are krypto gains taxable?

I have only ever sold once, and bought right back. I sold some LTC and bought it all back once it fell. I paid $400 in taxes.. I didn't figure the taxes, I have had an accountant to my taxes the last several years while I divest from another unrelated business entity. This past year was the last year that I will pay anyone to do my taxes until such time that I get old as fuck and don't understand them any longer.

Long story short, I didn't research it at all, I just gave him all my buy/sell info on that one transaction and I paid. Bad news was I paid 400 bucks. Good news was that I reset the cost basis on a bunch of LTC. Other bad news is that I don't understand yet how to treat gains in terms of what is taxable and at what rate.

Yes, gains in cryptos are usually taxable. Don't cheat. You don't have to if you do this right.

InTenSity wrote:Yes. I think over 20k.

LOL, NO!!!!

You are probably referring to Coinbase being forced to report peeps with over 20K in gains to the IRS.

Cryptos are basically untraceable if you are stealthy enough and want to play that game. I have chosen to be clear as day, and reported my only sale to the IRS this year and paid 400 bucks (and gained exactly 1 LTC). The good news is that I reset the cost basis on 40 LTC's way higher and so next time I sell = less taxes.

The thing is, depending upon the transferability of the coin and how easy it is to track, there becomes a point within which the IRS will have zero ability to track this shit.

You could easily claim you lost them or they were stolen or you gifted certain portions of them to different addresses/people.... there is simply no legislation yet that REALLY dictates any of this as far as I know. Just honor system...... #HI

tTy wrote:

InTenSity wrote:Yes. I think over 20k.

LOL, NO!!!!

You are probably referring to Coinbase being forced to report peeps with over 20K in gains to the IRS.

Cryptos are basically untraceable if you are stealthy enough and want to play that game.  I have chosen to be clear as day, and reported my only sale to the IRS this year and paid 400 bucks (and gained exactly 1 LTC).  The good news is that I reset the cost basis on 40 LTC's way higher and so next time I sell = less taxes.

The thing is, depending upon the transferability of the coin and how easy it is to track, there becomes a point within which the IRS will have zero ability to track this shit.

You could easily claim you lost them or they were stolen or you gifted certain portions of them to different addresses/people.... there is simply no legislation yet that REALLY dictates any of this as far as I know.  Just honor system.......#HI

AKA Tax fraud.

So after this weekend I should get called out of most of my equities. Stocks are super high and I’m nervous about being in at this price. Any inverse etf’s you guys are into? I got called out of sq last Friday. Bought in this week and will get called out at 61.50.

steveschneider wrote:So after this weekend I should get called out of most of my equities. Stocks are super high and I’m nervous about being in at this price. Any inverse etf’s you guys are into? I got called out of sq last Friday. Bought in this week and will get called out at 61.50.

I'm not too big into shorting anything, sorry.

100% of the last 18 Fed rate-hiking cycles led to market declines. Do you think this time will be the exception?

tTy wrote:100% of the last 18 Fed rate-hiking cycles led to market declines. Do you think this time will be the exception?

I love your passion tTy, but I hope you are not referring to this...

https://goldsilver.com/blog/18-historical-fed-rate-raising-cycles-18-straight-market-declines/

Sounds impressive - if you choose to ignore the dates they are using to prove their hypothesis.

Watched a video on yahoo finance most economists and financial experts see a recession coming. When is the big question.

Trying not to step into the political side of things, Steve, but that might not be possible with this issue. If we wind up in a trade war with multiple countries, and we’re early in the process but still on that precipice, we’ll see higher than average inflation and that will lead us into a recession. It doesn’t help that Wall Street and banks have seen so many Obama-era regs stripped that allow them to make high risk loans with little oversight. Will they repeat their conduct that led to the ‘08 recession? Let’s hope not.

tGreenWay wrote:Trying not to step into the political side of things, Steve, but that might not be possible with this issue. If we wind up in a trade war with multiple countries, and we’re early in the process but still on that precipice, we’ll see higher than average inflation and that will lead us into a recession. It doesn’t help that Wall Street and banks have seen so many Obama-era regs stripped that allow them to make high risk loans with little oversight. Will they repeat their conduct that led to the ‘08 recession? Let’s hope not.

Don't be bringin your fancy classroom economie corse book lernin stuff in this thread, boy.

I’m an educational elite. Quick! Somebody fetch me a latte and a Volvo!

tGreenWay wrote:Trying not to step into the political side of things, Steve, but that might not be possible with this issue. If we wind up in a trade war with multiple countries, and we’re early in the process but still on that precipice, we’ll see higher than average inflation and that will lead us into a recession. It doesn’t help that Wall Street and banks have seen so many Obama-era regs stripped that allow them to make high risk loans with little oversight. Will they repeat their conduct that led to the ‘08 recession? Let’s hope not.

fail

tGreenWay wrote:I’m an educational elite. Quick! Somebody fetch me a latte and a Volvo!

I bet you'ern onna them folks that have themselves both a white AND a black lantern boy at the end of you'ern there driveway, ain't you?

My kid likes talking to them. She's open minded.

goodbar wrote:

tGreenWay wrote:I’m an educational elite. Quick! Somebody fetch me a latte and a Volvo!

I bet you'ern onna them folks that have themselves both a white AND a black lantern boy at the end of you'ern there driveway, ain't you?

You and your damn avocado toast... I hate you, Greenway.

In what world are these not huge neon "I'm a fucking racist" signs.

Robert J Sakimano wrote:

Rocinante wrote:In what world are these not huge neon "I'm a fucking racist" signs.

here's the thing.. I grew up down south.. they've probably been there since I was a little kid and I never even noticed them.

The only reason I did notice them was when my SJW, East Lansing born and raised daughter first noticed them years ago and was outraged.. I had to talk her into NOT going over there and starting trouble.

ever time we walk/drive by there now when we're down south, I hear her mumbling under her breath.

You should've let her start trouble. Fuck that shit.

Hey Kingston, you might want to consider a pressure washer for those steps.

No shit?

tGreenWay wrote:Hey Kingston, you might want to consider a pressure washer for those steps.

Lol, it's an old lighthouse in Presque Isle. Maybe I'll let them borrow mine.

It's always a good sign when the creator of LTC dumped all his holdings of......

LTC.

All this crypto lingo BS reminds me of wine snobs trying to out word each other in describing wines. My bet is this crypto bubble is basically Amway.

Lightning is a decentralized, off-chain transaction network that follows a multi-hop hub and spoke model with potential to extend Bitcoin’s scalability to billions of transactions per day. The launch of Bitcoin Art Gallery has proved just how efficient the Lightning Network is. In addition to the listed benefits, this network will also enable instant, low-cost payments, and atomic cross-chain transactions.

“Seeing LN used for this kind of app makes me sad. Rather than empowering individual’s voices, this app encourages combative over powering of other’s artistic expressions via monetary means.”

After advocating for SegWit’s activation on Litecoin and Bitcoin, Charlie Lee took to Twitter to display his enthusiasm for Bitcoin Art Gallery. It is a pixel art game powered by BTC Lightning Network that pays 1 Satoshi for changing 1 pixel on the board.

Blockchain isn't going away regardless of the stupidity of the initial offerings. The technology is too useful. The question is, what's the next use of it, and how do people get in on the ground floor. I have some ideas, but I'm no Ty, so...

Sure wish I sold everything at the beginning of the year.

https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html

Rocinante wrote:Blockchain isn't going away regardless of the stupidity of the initial offerings.  The technology is too useful.  The question is, what's the next use of it, and how do people get in on the ground floor.  I have some ideas, but I'm no Ty, so...

This

Kingston, that seems much more like a corporate consultant’s jargon wet dream rather than wine snob-speak.