crypto currency discussion

[dlowilly]

I do use a bot. Literally hundreds of thousands of trades. No way I'm keeping track. If I started with 20k and I end up with 80k I'll pay taxes on 60k. Even if I kept track of every little loss and gain that's what it would come out to anyway right?

An arbitrage bot?

[ans61201]

I do use a bot. Literally hundreds of thousands of trades. No way I'm keeping track. If I started with 20k and I end up with 80k I'll pay taxes on 60k. Even if I kept track of every little loss and gain that's what it would come out to anyway right?

I think technically not, because with day trading would have a different long term rate. Only going to come into play if you get audited, even then I’d imagine it would be fairly easy to get by. Very few are going to do that.

[ace7550]

An arbitrage bot?

No I arbitrage manually. Too complex to get a bot to do it. I do have a bot day trading but it is barely better than breaking even. Still trying to find a way to make it more profitable.

[raiders72001]

Moneygram partnered with Ripple.

[TPowell]

About time for some Asians to stick their hands in my pocket.

[Arky]

Nice to see Stellar (XLM) showing a pulse....

[ans61201]

Nice to see Stellar (XLM) showing a pulse....

It got recommend as a buy on CNBC today they did a couple minute piece on it as best crypto buy right now

[ace7550]

It got recommend as a buy on CNBC today they did a couple minute piece on it as best crypto buy right now

I'd much rather take recommendations from this thread than CNBC. Main stream networks giving crypto advice...what is the world coming to.

[ans61201]

I'd much rather take recommendations from this thread than CNBC. Main stream networks giving crypto advice...what is the world coming to.

For me it has nothing to do with taking their advice, it’s more to do with how many everyday bobs that have never even heard of stellar will take their advice and at least in the short term cause a spike.

Speaking of which, if anyone else has any doubts of how big crypto is getting go to yahooo and in their first 30 articles there are write ups about major companies getting involved. Comcast, Kodak etc

[ace7550]

For me it has nothing to do with taking their advice, it’s more to do with how many everyday bobs that have never even heard of stellar will take their advice and at least in the short term cause a spike.

Speaking of which, if anyone else has any doubts of how big crypto is getting go to yahooo and in their first 30 articles there are write ups about major companies getting involved. Comcast, Kodak etc

It's true it probably will cause a spike.
Kodak is making their own coin and their own mining hardware. I read a review on their miner. Sounds like a pretty crappy deal. You have to return it after a couple years.

[eidolon]

binance coin? what is this?

[mrpapageorgio]

binance coin? what is this?

Binance has a coin you can use to pay the trading fees on their website. If you use the coin to pay the fees, you get a 50% discount on the fees, but I think they will reduce the discount over time.

[shocka1212]

theres blood in the streets.. time to learn from the mistakes made over the course of the past couple of weeks, and Clean things up for this year. read a couple articles on Cardano that have me feeling optimistic.

[shocka1212]

Moneygram partnered with Ripple.

Sounds about right. Nice Stone Age way of sending money teaming up with another

[dlowilly]

Sounds about right. Nice Stone Age way of sending money teaming up with another

[ans61201]

theres blood in the streets.. time to learn from the mistakes made over the course of the past couple of weeks, and Clean things up for this year. read a couple articles on Cardano that have me feeling optimistic.

Was there a stretch you weren’t optimistic on this coin? It’s one of the ones you’ve talked the best about since I’ve follpwed this forum

[mrpapageorgio]

Sounds about right. Nice Stone Age way of sending money teaming up with another

So you wouldn't be surprised if they decided to advertise by putting out a commercial using The Flintstones? :P

[The Kraken]

The thing that should have most of us bullish on Cardano is ETH’s success

Oddly, Ada/xrp have nearly identical charts to a fukking T, so much so I hate being in both at the same time because it feels like I have no diversification

Now is another one

[1badaztruk]

On the doller cost averaging, do u have to add to it every week or month? Im very small time investment. Is adding $100 a month enough to do this stragity? Or I have the ledger nano comin in soon so should i just add money on that and wait for corrections to start to buy on dips?

[proteinfart]

Etherium is moving today

[SamsNCharge99]

everything dropping yesterday, everything up today. Following the normal trends

[Mac4Lyfe]

On the doller cost averaging, do u have to add to it every week or month? Im very small time investment. Is adding $100 a month enough to do this stragity? Or I have the ledger nano comin in soon so should i just add money on that and wait for corrections to start to buy on dips?

The definition of dollar cost averaging is to buy a FIXED amount on a REGULAR schedule REGARDLESS of price. For example, you would buy $25 of XRP Ripple every week or $100 every month (whatever is your time schedule). The strategy is to build up a position while a stock/coin grows over time. In this example, you end up building a position in XRP over time.

I don't dollar cost average by the true definition. I buy whenever I can and try to buy during dips in time. I bought XRP at 0.20 then 0.25, then 0.28. It went to 0.32, then it dropped to 0.15 (I think). I bought more at 0.15 then 0.18. It went to 0.23 and stayed around there for a while. It dipped again then went on a run. I bought again at 0.78. It went to $4 and is currently around $2. I'm about to buy more at $2. Why didn't I just buy a shit load at 0.20 in the beginning? Well, I didn't have the cash. Which is why you dollar cost average. You buy a bit over every pay period (let's say you get paid every 2 weeks or 1 a month). Is $100 a month enough? Well that's entirely up to you. What is your pain tolerance? How much $ can you afford to lose? I personally think at least 1-5% of your investments should be in crypto. You can setup automatic buy/sell of BTC (recurring transactions) at Coinbase of any amount. It allows hourly, daily, weekly, biweekly, monthly, etc. I don't think you can buy other coins or deposit dollars, only BTC. I don't know any other exchange that has recurring transactions. So I just go in and buy when I can.

As far as I know, you can't add dollars on a nano S ledger. You can only add coins. Tether coin tracks the dollar. It's sold on Binance, Bittrex and Poloniex but I'm not sure you can even add it to the Nano S. When I buy on a dip, I just wire money into CB to buy BTC, BCC, LTC or ETH (If I'm in a rush, I don't use BTC). I then move the BTC to GDAX, then send to wherever. So you could then exchange the BTC to Tether for example and have the Tether available to buy dips. I normall just sit on the BTC until I'm ready to buy because at most places BTC is the most popular coin to exchange.

[Mac4Lyfe]

I know this is a crypto discussion thread but I meant to mention the stock Overstock (OSTK). It is a US based online retailer that sells items like an Amazon. Overstock is one of the first retailers that have bought in to crypto and use blockchain technology. I'm hearing a lot of great things they're doing with blockchain and they may be selling some technology. Looking at them and comparing with Jet that had a $2B valuation just on the retail side, OSTK has to be at least twice as much. The stock is worth at least $120 in my book. Most likely a lot more.

I mentioned OSTK here in the forums back in Sept/Oct. when someone asked where they can buy stuff with BTC. The stock has exploded these last few months more than most coins.

[1badaztruk]

Thanks. That helps alot. I been followin this forum for awhile even before the surge in dec but didnt have money to invest. I worked my ass off and saved enough to buy in ltc. When that shit hit i went crazy. Been learning alot from all u guys and i just wanna say thank you.

[allabout the $$$]

everything dropping yesterday, everything up today. Following the normal trends

Im still seeing a bunch of red just bought back in to a bunch of cryptos i believe!

[DOM_Toretto]

Easiest Way To Buy Cryptos With USD???

I currently buy BTC or ETH on Coinbase with my credit card whenever I want to buy any cryptos. Either hold those 2 or transfer to Binance for other cryptos. Was “okay” paying Coinbase the ~3% fee on any buyin, on top of smaller fees to transfer over to Binance. BUT, now my credit card started charging 3% on each buyin, calling it international fees. So now I’m paying 6% on each buy-in on top of all the small fees for transferring in/out of exchanges.

is this sustainable in your opinions? Am I missing a cheaper way to buy in with USD? (I typically buy in $1k USD or less via credit card, every couple weeks or when I see dips.

Thanks!

[Bucketwah]

Easiest Way To Buy Cryptos With USD???


I currently buy BTC or ETH on Coinbase with my credit card whenever I want to buy any cryptos. Either hold those 2 or transfer to Binance for other cryptos. Was “okay” paying Coinbase the ~3% fee on any buyin, on top of smaller fees to transfer over to Binance. BUT, now my credit card started charging 3% on each buyin, calling it international fees. So now I’m paying 6% on each buy-in on top of all the small fees for transferring in/out of exchanges.

is this sustainable in your opinions? Am I missing a cheaper way to buy in with USD? (I typically buy in $1k USD or less via credit card, every couple weeks or when I see dips.

Thanks!

Fees are less if you link a bank account to coinbase. Your funds will normally take 5 business days though to hit your coinbase wallet. However your locked into the price you purchased btc, eth, or ltc at that time. Only thing is you cant deposit any of it to an exchange untill it hits your coinbase wallet.

[IAG]

^^^^^. This. I think the fees may be less on Gemini. I have never used them to purchase – only to cash out...but I find them very reasonable... Very happy with them. I don’t know if they take ************ though. I think it may just be. ACH transactions and wires.

[IAG]

I do use a bot. Literally hundreds of thousands of trades. No way I'm keeping track. If I started with 20k and I end up with 80k I'll pay taxes on 60k. Even if I kept track of every little loss and gain that's what it would come out to anyway right?

That’s what I was trying to figure out. I don’t know how you could come up with more owed? The difference will be the timing. If you wait tell you cash out to Fiat, technically you may not be reporting all the gains you should in the correct tax year. It was probably a way to make sure everybody paid for the huge gains in 2017 and didn’t wait until it crashed in 2018. Not that it’s going to crash, but you know what I’m saying. The more I read what people are saying, the more I think they will appreciate the people who make an honest attempt and calculate to the best of their ability. Plenty of people out there saying they have no intention of reporting because they think it can’t be traced. If anything, I’m afraid of paying too much. I think somehow you may get to write off the fees if you paid with a credit card or fees associated with the trade, but I’m not completely sure how that works yet.


But back to your point, if anyone can name a scenario in which calculating each item as a taxable event would net the government more money than just calculating a straight in and out gain, please explain, as I have wondered about this also.

I have also read about some tax software out there about is supposed to link to exchanges and calculate for you, But I am if if it can be used retroactively. Plus I bought some bitcoin outside of an exchange( from an individual) but then moved it to an exchange to trade, so I’m not sure how that would work

[shocka1212]

Was there a stretch you weren’t optimistic on this coin? It’s one of the ones you’ve talked the best about since I’ve follpwed this forum

no, but I thought the valuation would take a hit because of the overall climate in the market. not the case. Nice try Korea, not fooled.

[shocka1212]

Easiest Way To Buy Cryptos With USD???

I currently buy BTC or ETH on Coinbase with my credit card whenever I want to buy any cryptos. Either hold those 2 or transfer to Binance for other cryptos. Was “okay” paying Coinbase the ~3% fee on any buyin, on top of smaller fees to transfer over to Binance. BUT, now my credit card started charging 3% on each buyin, calling it international fees. So now I’m paying 6% on each buy-in on top of all the small fees for transferring in/out of exchanges.

is this sustainable in your opinions? Am I missing a cheaper way to buy in with USD? (I typically buy in $1k USD or less via credit card, every couple weeks or when I see dips.

Thanks!

if you have a couple days to spare, deposit USD to gdax usd wallet, and then buy LTC with that and send to an exchange. Done the math a couple times and thats the lowest fee/ most accessible way to do it.

[IAG]

I know this is a crypto discussion thread but I meant to mention the stock Overstock (OSTK). It is a US based online retailer that sells items like an Amazon. Overstock is one of the first retailers that have bought in to crypto and use blockchain technology. I'm hearing a lot of great things they're doing with blockchain and they may be selling some technology. Looking at them and comparing with Jet that had a $2B valuation just on the retail side, OSTK has to be at least twice as much. The stock is worth at least $120 in my book. Most likely a lot more.

I mentioned OSTK here in the forums back in Sept/Oct. when someone asked where they can buy stuff with BTC. The stock has exploded these last few months more than most coins.

Did you hear about the snafu with Overstock and Bitcoin the other day? Oops.

https://techcrunch.com/2018/01/10/overstock-and-coinbase-briefly-mixed-up-bitcoin-and-bitcoin-cash/

[shocka1212]

when I realize I structured the portfolio properly so when one crypto takes a hit, it usually pours into another end of the portfolio leaving me unaffected.

[raiders72001]

The Koreans are mad. They signed a petition and are also asking for the head of the finance minister.

[raiders72001]

Wall Street bonuses January 15th. This should cause increased investment and price increases in the crypto market.