Cryptocurrencies. What say you?

Discussion in 'Non Surf Related' started by StuckontheGulf, Nov 14, 2017.

  1. Barry Cuda

    Barry Cuda Guest

    Nobody knows yet. I can assure you, not one IRS agent can answer that. Or if you ask all IRS agents, each one will give you a different answer based on stupidity, ignorance, theft, and government thinking.
     
    sisurfdogg likes this.
  2. davedingus

    davedingus Well-Known Member

    189
    Oct 11, 2017

  3. hinmo24t

    hinmo24t Well-Known Member

    412
    Jan 16, 2012
    true story:
    I had never gambled prior to this...
    on a Norwegian cruise, i put $5 in a slot machine and on my first couple plays/ random buttons and won $285. Cashed out and never did it again.
     
    Son Bather Bob likes this.
  4. surfsolo

    surfsolo Well-Known Member

    809
    Apr 1, 2009
    My portfolio fluctuates thousands sometimes ten of thousands a day. Crypto is a scam tho lol you know its time to get out when you hear stories of 10 year olds telling the story that they made 100's of thousands in crypto and now the parents are not sending them to college.
     
  5. throwing buckets

    throwing buckets Well-Known Member

    46
    Oct 16, 2017
    glad my $1500 dollar investment in ETH & BTC was made this summer. The latest fluctuations haven't really mattered to me since I'm in for the long haul. When I bought that $1500 I just considered it gone.

    Those who got in recently (Nov. and on) are dealing with some sheet.
     
  6. throwing buckets

    throwing buckets Well-Known Member

    46
    Oct 16, 2017
    Re: Taxation

    I'm curious to see how the IRS can attach a USD value to something that is so volatile.
     
  7. Wavestrom

    Wavestrom Well-Known Member

    455
    Jul 5, 2014
  8. La_Piedra

    La_Piedra Well-Known Member

    Oct 9, 2017
    hinmo24t likes this.
  9. CBSCREWBY

    CBSCREWBY Well-Known Member

    Feb 21, 2012
    If you got in in June, you still made bank. If you aren't a chicken shit put some in now.
     
  10. CBSCREWBY

    CBSCREWBY Well-Known Member

    Feb 21, 2012
    My thought is since it isn't an actually a "currency" you won't get taxed until you convert it to USD. It's not really a profit or a loss until you "trade it" back to US Dollahs...
     
  11. 3rdperson

    3rdperson Well-Known Member

    841
    Mar 14, 2014
    This morning was a score! Long peeling crypto barrels in trunks, with no one out.
     
    Wavestrom likes this.
  12. Wavestrom

    Wavestrom Well-Known Member

    455
    Jul 5, 2014
    Oh damn. I do make all my financial decisions based on not being 'chicken' so I guess I'll buy in!

    At this point, there's no compelling argument for any specific crypto over another which kind of devalues them all and there's lot of sketchy stuff around many (aka RTFA)

    Did you sell prior to the recent collapse? If not, then you're the one missing out really.
     
    desandan likes this.
  13. 3rdperson

    3rdperson Well-Known Member

    841
    Mar 14, 2014
    If you do some research I'm sure you'll find that is most definitely not the case. You're watching a monumental change in the way most of the world works. It doesn't take much effort to weed out the "sketchy stuff" from genuine companies doing insanely good things for the world.
     
  14. DawnPatrol321

    DawnPatrol321 Well-Known Member

    Mar 6, 2012
    Has anybody coined the term Cryptokook yet? If not I got dibs.
     
  15. sisurfdogg

    sisurfdogg Well-Known Member

    Jun 17, 2013
    Just read a story on a bunch of Silicon Valley billionaires setting up shop in PR to make cyber currencies and pay no taxes. You in on this O Barry?

    My dad used to say, when the little guy gets in, it's time to get out.
     
    desandan likes this.
  16. La_Piedra

    La_Piedra Well-Known Member

    Oct 9, 2017
    Too bad Stank isn't around anymore, he had a good grip on this subject and I would've liked to hear his opinion.
     
  17. desandan

    desandan Well-Known Member

    181
    Feb 12, 2013
    It is going to have swings until it finds true value. Play the swings (looks like its going up some now). Holding is a true gamble.

    Profit is profit - take it. You can always re-enter.
     
    CBSCREWBY likes this.
  18. desandan

    desandan Well-Known Member

    181
    Feb 12, 2013
    Smart man, as soon as I saw how hyped this crypto stuff became (esp around xmas - it was literally promoted everywhere) I knew big money was looking for an exit.
     
  19. CBSCREWBY

    CBSCREWBY Well-Known Member

    Feb 21, 2012
    Got very little in right now. Didn't put anything in yesterday because I was chicken shit. But If I had dropped a grand in LiteCoin I would have made $427 in 24 hours.
     
  20. CBSCREWBY

    CBSCREWBY Well-Known Member

    Feb 21, 2012
    PS. Chicken Shits make very little money in any market. They are part of the 46% population that have nothing in any exchange and will work until they die... because they have to... Or they are the ones who sold everything Monday when the stock market "collapsed"...
     
    desandan likes this.