Official Bitcoin, Ethereum, and other Alt coin crypto thread

Halffastford said:
I guess I'm lost on the whole buy something that's .001247 and then it goes to .00243. Yeah, it's double but it's worth less than a penny. How much of that do you have to buy to make substantial changes in your portfolio?
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Here is a chart that shows gains in % and in X’s.

Hopefully this helps explain things

IMG_9441.jpeg
 
Halffastford said:
I guess I'm lost on the whole buy something that's .001247 and then it goes to .00243. Yeah, it's double but it's worth less than a penny. How much of that do you have to buy to make substantial changes in your portfolio?
Click to expand...
So most coins that are that cheap are first bull run coins. Meaning they haven’t been through a bull run yet. If the project is sound and the tech is good they will typically 4-5x even 10x in their first bull run. They could also go to zero as well. Some of those coins will 30-50x as well and a few may even 100x. So if you buy $500 each in 10 solid new projects you could easily see 10x or more returns and even if 2 go to zero it’s not a big hit. Not Financially Advice.

Now its up to the investor to figure out the ins and outs of the coins. I personally dont mess with meme coins at all but that a whole other aspect and extremely risky. Most of those are rug pulls.

ETA. If you’re not spending it think of it like this. Crypto has a bull run roughly every 4 years. So lets say you start with 5k and 10x it. You then sell those coins into something like usdt and let the coins fall back down. I personally will short the market back down for more profits but thats more risky. Once its back down near a bottom you begin to look for trades and investments. You can probably 2-5x during thebear market if you work at it. But assuming you just research and wait for the next bull run you take your now 50k and 10x it again. Thats 5k to 500k in 8-10 years. Thats life changing money. The average person who works at it needs 4 years to figure it out. Fortunately there are several programs now that allow you to use a demo trading account and you dont have to risk any real money. You can develop strategies and test them before going risk on. Keeping a trade journal is another bug benefit and one I need to get better about.
 
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Thefishguy77 said:
So most coins that are that cheap are first bull run coins. Meaning they haven’t been through a bull run yet. If the project is sound and the tech is good they will typically 4-5x even 10x in their first bull run. They could also go to zero as well. Some of those coins will 30-50x as well and a few may even 100x. So if you buy $500 each in 10 solid new projects you could easily see 10x or more returns and even if 2 go to zero it’s not a big hit. Not Financially Advice.

Now its up to the investor to figure out the ins and outs of the coins. I personally dont mess with meme coins at all but that a whole other aspect and extremely risky. Most of those are rug pulls.

ETA. If you’re not spending it think of it like this. Crypto has a bull run roughly every 4 years. So lets say you start with 5k and 10x it. You then sell those coins into something like usdt and let the coins fall back down. I personally will short the market back down for more profits but thats more risky. Once its back down near a bottom you begin to look for trades and investments. You can probably 2-5x during thebear market if you work at it. But assuming you just research and wait for the next bull run you take your now 50k and 10x it again. Thats 5k to 500k in 8-10 years. Thats life changing money. The average person who works at it needs 4 years to figure it out. Fortunately there are several programs now that allow you to use a demo trading account and you dont have to risk any real money. You can develop strategies and test them before going risk on. Keeping a trade journal is another bug benefit and one I need to get better about.
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Fishy gets it.
 
Looking into this again. I made a account with binance in 21 but never put money in. TLDR of the 39 pages of whats some good ones to look at?:homer:
 
So today the SEC had their X account hacked. The hacker posted that they had approved the EFT in Bitcoin. In 15 minutes the price jumped $3,000. Then they announced the hack and it wasn’t approved and the price went down to about $2,000. The actual announcement was supposed to happen tomorrow. Interesting to see if they do.
 
WaterH said:
So today the SEC had their X account hacked. The hacker posted that they had approved the EFT in Bitcoin. In 15 minutes the price jumped $3,000. Then they announced the hack and it wasn’t approved and the price went down to about $2,000. The actual announcement was supposed to happen tomorrow. Interesting to see if they do.
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Hearing about the SEC's X account getting hacked and the roller coaster ride it caused in Bitcoin's price is a testament to how volatile and unpredictable the crypto world can be.
All these crypto stories remind me of the thrill of being part of this digital financial revolution.
Now, speaking of personal experiences, if you're actively involved in the crypto scene, you might want to consider adding a layer of privacy to your transactions. Cryptomixer can be a handy tool to achieve that. Think of it as your way of keeping your financial moves a bit more confidential in this open and transparent blockchain world.
 
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abdurah said:
Hearing about the SEC's X account getting hacked and the rollercoaster ride it caused in Bitcoin's price is a testament to how volatile and unpredictable the crypto world can be.
All these crypto stories remind me of the thrill of being part of this digital financial revolution.
Click to expand...
It’s funny, when the SEC finilly did announce the approval of bit coin EFT for real, it didn’t have that much effect on the price. could be the “cry wolf” effect.
 
Holy fuck......im making money again :) .........I put $500 in bitcoin on the 16th, now I wish id put $5000 in
 
I bought bitcoin when it was 4000 a coin. Of course i only bought 100 bucks worth and already spent it.
🤦‍♂️😭
 
Can someone explain the taxes on this?

If I sell right now, do I have to pay taxes on the coin?

If I sell and leave the funds in the wallet, can I re-buy and not pay taxes on it?
 
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