Augie Posted February 13, 2018 Share Posted February 13, 2018 50 minutes ago, Greybeard said: It could have been a loss. How do they know what price you obtained it at? And think of all the fun @plenzmd1 could have during an audit! THAT sounds like a blast! Quote Link to comment Share on other sites More sharing options...
PolishDave Posted February 13, 2018 Share Posted February 13, 2018 22 hours ago, /dev/null said: Glad you didn't go the bitcoin route. If you had tried to cash out thru any reputable financial institution the transaction would be reported to the IRS and you would have been sent a 1099 next year reporting taxable investment income. Really? Because I never got one. Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted February 13, 2018 Share Posted February 13, 2018 14 hours ago, Greybeard said: It could have been a loss. How do they know what price you obtained it at? They don't. You have to track it and provide that information to the best of your ability, theoretically. Unless your Coinbase or Gemini accounts are over $20,000 in size then the IRS isn't tracking you at the moment. Quote Link to comment Share on other sites More sharing options...
Foxx Posted February 14, 2018 Author Share Posted February 14, 2018 LTC has broken to the upside. it is quite possible that it could be the leading indicator of a breakout of the consolidation phase we are currently in. up over 30% today. Quote Link to comment Share on other sites More sharing options...
mead107 Posted February 15, 2018 Share Posted February 15, 2018 I’m taking meadcoin to Wall Street. Next year Quote Link to comment Share on other sites More sharing options...
BuffaloBill Posted February 19, 2018 Share Posted February 19, 2018 Foxx was this you? $400MM Bitcoin purchase: https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16?siteid=yhoof2&yptr=yahoo Quote Link to comment Share on other sites More sharing options...
Foxx Posted February 20, 2018 Author Share Posted February 20, 2018 On 2/19/2018 at 4:49 PM, BuffaloBill said: Foxx was this you? $400MM Bitcoin purchase: https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16?siteid=yhoof2&yptr=yahoo lol, no unfortunately not, but did that person time it or what? i have never been exceptionally adept at timing the bottoms. however, my track record of hitting at or near the tops is quite good if i do say so. for those who understand the more traditional, time worn approach of wave theory... Quote Link to comment Share on other sites More sharing options...
John from Riverside Posted February 21, 2018 Share Posted February 21, 2018 18 hours ago, Foxx said: lol, no unfortunately not, but did that person time it or what? i have never been exceptionally adept at timing the bottoms. however, my track record of hitting at or near the tops is quite good if i do say so. for those who understand the more traditional, time worn approach of wave theory... I told you I was getting into it! (just kidding mine was a very modest purchase) Quote Link to comment Share on other sites More sharing options...
Foxx Posted February 21, 2018 Author Share Posted February 21, 2018 15 minutes ago, John from Hemet said: I told you I was getting into it! (just kidding mine was a very modest purchase) congrats Quote Link to comment Share on other sites More sharing options...
plenzmd1 Posted March 8, 2018 Share Posted March 8, 2018 Coinbase is going to offer a fund comprised now of cryptos..like this idea https://www.washingtonpost.com/news/the-switch/wp/2018/03/07/coinbase-a-top-cryptocurrency-exchange-is-launching-an-index-fund/?utm_term=.59e2c8f408a9 Quote Link to comment Share on other sites More sharing options...
mead107 Posted March 8, 2018 Share Posted March 8, 2018 Meadcoin still the best Quote Link to comment Share on other sites More sharing options...
TheElectricCompany Posted March 8, 2018 Share Posted March 8, 2018 1 hour ago, mead107 said: Meadcoin still the best Dogecoin is the best coin. Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted March 8, 2018 Share Posted March 8, 2018 15 minutes ago, TheElectricCompany said: Dogecoin is the best coin. Such coin. Much currency. Very wow. Quote Link to comment Share on other sites More sharing options...
plenzmd1 Posted March 12, 2018 Share Posted March 12, 2018 (edited) Oliver was pretty good on this last night..need to change Foxx to Dan https://www.theverge.com/tldr/2018/3/12/17108852/john-oliver-explaining-bitcoin-cryptocurrency-blockchain-watch-this BTW, this is long, like 25 minutes. The pump and dumps ..wow Edited March 12, 2018 by plenzmd1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 12, 2018 Author Share Posted March 12, 2018 3 hours ago, plenzmd1 said: Oliver was pretty good on this last night..need to change Foxx to Dan https://www.theverge.com/tldr/2018/3/12/17108852/john-oliver-explaining-bitcoin-cryptocurrency-blockchain-watch-this BTW, this is long, like 25 minutes. The pump and dumps ..wow Dan is my real first name. 1 Quote Link to comment Share on other sites More sharing options...
VeryWeakPassword Posted March 13, 2018 Share Posted March 13, 2018 I've been trading crypto since November, got in just in time for a ridiculous bull run, I thought I found the golden goose, made 3x my investment basically knowing nothing. January was a rude awakening, lost most of my profit. Crypto world is filled with shady con artists and many who have conned themselves into believing they are on the forefront of a social movement that will change the world. Here's a good article that I agree with, the technology underpinning crypto currencies is real and will become ubiquitous but Bitcoin and all these other coins - there is no end game for most of them. They aren't necessary. I do believe there will always be an anonymous crypto coin or two that will be used by criminals. Monero I think is one being used now for that purpose. Bitcoin is far from anonymous. How Bitcoin Ends https://www.fastcompany.com/40537404/how-bitcoin-ends Quote Link to comment Share on other sites More sharing options...
PolishDave Posted March 13, 2018 Share Posted March 13, 2018 (edited) 6 hours ago, VeryWeakPassword said: I've been trading crypto since November, got in just in time for a ridiculous bull run, I thought I found the golden goose, made 3x my investment basically knowing nothing. January was a rude awakening, lost most of my profit. Crypto world is filled with shady con artists and many who have conned themselves into believing they are on the forefront of a social movement that will change the world. Here's a good article that I agree with, the technology underpinning crypto currencies is real and will become ubiquitous but Bitcoin and all these other coins - there is no end game for most of them. They aren't necessary. I do believe there will always be an anonymous crypto coin or two that will be used by criminals. Monero I think is one being used now for that purpose. Bitcoin is far from anonymous. How Bitcoin Ends https://www.fastcompany.com/40537404/how-bitcoin-ends The article starts out pretty good but starts twisting into an opinionated piece rather than an objective one. The guy says "The money itself is worthless. Less than worthless, in fact." Anyone who claims Bitcoin is worthless right now is ignoring reality. That is not opinion. That is fact. They may as well make the claim that dollars and Euros are worthless too. And we all know they are not. Any one of those three (US dollars, Euros, Bitcoins) might end up worthless someday. That is probably inevitable. But none of them are currently worthless. And Bitcoin certainly is not worthless when there are currently millions of people willing to trade you approximately $9,000 US dollars for one Bitcoin. If and when the price of Bitcoin goes to zero - well then yes it will be worthless. And it probably will do that someday - maybe this year - maybe a thousand years from now. And it is also possible - even just as likely if not more likely - that the value of it goes to $50,000 US dollars or $100,000 or $1,000,000 before it goes to zero. That is why it is risky. The author's line of thinking is the same as newly invented buggy whip manufacturers choosing not to bother making buggy whips because someday a new vehicle "the automobile" would come along and render the buggy whips for carriage and buggy owners nearly obsolete. Meanwhile - actual intelligent entrepreneurs manufactured them and profited from it for (I don't know) a thousand years or more perhaps? Who was the smart one - the guy who decided to make hay while the sun was shining or the guy who said - I am not going to bother making hay because some day it is going to rain again? Edited March 13, 2018 by PolishDave Quote Link to comment Share on other sites More sharing options...
TheElectricCompany Posted March 13, 2018 Share Posted March 13, 2018 I'm still struggling with blockchain and how revolutionizing it will be. Can't help but feel that is a manufactured problem, where the current system simply needs a tune up, not that it needs to be replaced with an open source "public ledger" power suck. Bring on the blockchain bros to tell me how I'm wrong! Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 13, 2018 Share Posted March 13, 2018 1 hour ago, TheElectricCompany said: I'm still struggling with blockchain and how revolutionizing it will be. Can't help but feel that is a manufactured problem, where the current system simply needs a tune up, not that it needs to be replaced with an open source "public ledger" power suck. Bring on the blockchain bros to tell me how I'm wrong! those who are in the midst of it have a good thing going not sure how one suddenly jumps onto the "next thing" when its developed better off getting in on the ground floor for the "next thing" Quote Link to comment Share on other sites More sharing options...
PolishDave Posted March 14, 2018 Share Posted March 14, 2018 On 3/13/2018 at 1:02 PM, TheElectricCompany said: I'm still struggling with blockchain and how revolutionizing it will be. Can't help but feel that is a manufactured problem, where the current system simply needs a tune up, not that it needs to be replaced with an open source "public ledger" power suck. Bring on the blockchain bros to tell me how I'm wrong! Are you honestly asking about blockchain technology or are you asking about Bitcoin but saying blockchain? Because they are two different questions with two different answers. Seems like you are meaning to ask about Bitcoin but you are using the word blockchain. Quote Link to comment Share on other sites More sharing options...
TheElectricCompany Posted March 14, 2018 Share Posted March 14, 2018 1 minute ago, PolishDave said: Are you honestly asking about blockchain technology or are you asking about Bitcoin but saying blockchain? Because they are two different questions with two different answers. Seems like you are meaning to ask about Bitcoin but you are using the word blockchain. Blockchain specifically. Quote Link to comment Share on other sites More sharing options...
PolishDave Posted March 14, 2018 Share Posted March 14, 2018 (edited) 35 minutes ago, TheElectricCompany said: Blockchain specifically. Anything that could benefit from a permanent record that cannot be altered could be something that is improved/disrupted/revolutionized by blockchain. Not only does it promise to enhance the workplace and lives of people within it, it threatens to disrupt the entire way in which business is conducted, the public institutions we rely on, and the very system of government we take for granted. Say goodbye to intermediaries - Now that companies have a secure way of transacting with consumers directly, they no longer need to rely on platforms owned by third-parties (like banks) to conduct commerce. This will make companies more self-sufficient, open up the possibility of internal financial departments, as well as making the retail experience more flexible and immediate. Revolutionizing healthcare - Blockchain gives patients more control over their sensitive medical information, a hospital’s ability to streamline and share it, and everybody’s ability to protect it. Indeed, this much is true for any industry involved in compiling and distributing sensitive information about individuals between practitioners or departments. Employee compensation - Blockchain will make it easier to pay employees, and circumvent costly fees often associated with paying teams that work overseas. That means that companies will have fewer financial barriers when it comes to international expansion, making it increasingly likely that you’ll work with people and departments from all over the world. Enhanced democracy - Even good governments are prone to corruption, rigged voting, and an ultimate disillusion of democracy in the eyes of its citizens. Blockchain potentially allows us the ability to vote in a manner that’s impervious to outside meddling or the influence of corruption. listings above are snippets from this article A few practical examples that might possibly occur as a result of blockchain technology: * Businesses and/or individual citizens won't have to have checking accounts at banks. Or perhaps they will have one that is used much. much less. * Businesses can hire employees from overseas with much less hassle. * Consumers can buy direct from companies anywhere in the world without having to use Amazon.com or Ebay.com or Alibaba.com or whatever. * Worldwide black market commerce may become more accessible to everyone across the globe - no longer have to deal with local drug dealers. * Tax evaders will be able to successfully hide money from all governments to a certain extent * Certain types of crimes will diminish across the globe * New types of crimes will spring into existence across the globe. You aren't likely to get a good comprehensive answer to that question here on this forum. If you really want to imagine all the different ways it is going to change things, you need to do some searching and reading via Google or another search engine. There are so many things that could change from blockchain technology it is impossible to think of them all and list them all. They are too numerous. I predict that at some point (probably way,way down the road) some country's citizens (maybe even the USA) will have a Federal crypto account much like their social security number. This account will be part of the national blockchain that the government can keep track of resources with. Some really high taxed liberal country like Finland would be more likely to enact something like this because those people trust their government far more than citizens here trust theirs. It is very likely that blockchain technology is going to cause a secondary change in some way in society far beyond what anyone is imagining is going to happen - much like how the internet has changed and continues to change the way media is delivered to homes in America. I doubt many people envisioned "cord cutting" as being something the internet was going to cause way back when the internet was in its infancy. The biggest changes blockchain causes will be those types of changes that occur over decades in my opinion. And we won't know it until it starts happening. Edited March 14, 2018 by PolishDave 1 Quote Link to comment Share on other sites More sharing options...
TheElectricCompany Posted March 14, 2018 Share Posted March 14, 2018 (edited) Thanks Polish, appreciate all the info. I've built my career in high tech and I've lost track of all the products and services I've dealt with that will "revolutionize the world" and nothing comes of it. "Cannot be altered"...., I am skeptical of this absolute. Tech is changing exponentially, mankind does not respond that quickly. With the crazy advancements that are happening in fields like semiconductors and machine learning, and new realities like large scale malicious botnets, not sure how long will we able to say that. Edited March 14, 2018 by TheElectricCompany 2 Quote Link to comment Share on other sites More sharing options...
PolishDave Posted March 14, 2018 Share Posted March 14, 2018 1 minute ago, TheElectricCompany said: Thanks Polish, appreciate all the info. I've built my career in high tech and I've lost track of all the products and services I've dealt with that will "revolutionize the world" and nothing comes of it. "Cannot be altered"...., I am skeptical of this absolute. Tech is changing is exponentially. With the crazy advancements that are happening in fields like semiconductors and machine learning and new realities like large scale malicious botnets, not sure how long will we able to say that. Yeah. Who knows? Decades out, things are incredibly hard to predict. I suspect artificial intelligence - when they really get good at it - is going to be a major game changer - especially in the hands of bad people. Quote Link to comment Share on other sites More sharing options...
TheElectricCompany Posted March 14, 2018 Share Posted March 14, 2018 Just now, PolishDave said: Yeah. Who knows? Decades out, things are incredibly hard to predict. I suspect artificial intelligence - when they really get good at it - is going to be a major game changer - especially in the hands of bad people. It is both the blessing and curse of tech advancements. New features and benefits that were never perceived possible, but new risks and dangers that never existed prior. I am equally terrified and intrigued on how wearables, AR/VR, implantables and nanotech will change society. 1 Quote Link to comment Share on other sites More sharing options...
GoBills808 Posted March 20, 2018 Share Posted March 20, 2018 Hope everyone who got in at $10K is in for the long haul...swinging like a bull's nutsack right now. Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 20, 2018 Share Posted March 20, 2018 if i made a billion on this i would be in a lifestyle a million miles away form arguing on this thread... that's fo shuuuuuuuuuuuuuuuure Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2018 Author Share Posted March 20, 2018 10 hours ago, GoBills808 said: Hope everyone who got in at $10K is in for the long haul...swinging like a bull's nutsack right now. the market has certainly walked sideways since it's high in Dec/Jan. it has a certain aroma of manipulation to it. Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 20, 2018 Share Posted March 20, 2018 10 minutes ago, Foxx said: the market has certainly walked sideways since it's high in Dec/Jan. it has a certain aroma of manipulation to it. DUH it's best to get in on pyramids during the founding only, late in the game is a disaster Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2018 Author Share Posted March 20, 2018 1 minute ago, row_33 said: DUH it's best to get in on pyramids during the founding only, late in the game is a disaster your funny row. still harboring those feelings of FOMO it seems. you think it is a pyramid, i believe it is a movement. apparently never the 'twain shall meet. there is a great amount of ammunition to support my belief it isn't funny. Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 20, 2018 Share Posted March 20, 2018 11 minutes ago, Foxx said: your funny row. still harboring those feelings of FOMO it seems. you think it is a pyramid, i believe it is a movement. apparently never the 'twain shall meet. there is a great amount of ammunition to support my belief it isn't funny. i have a former co-worker who was there before it started becoming public, selling hard drives and parts for large markups for people to use for mining and he bought bitcoin at the start so he must have made a bundle when it skyrocketed he's now onto blockchain stuff and doing well i don't miss him but he was the type that was going to build a fortune by himself.... you need a few like that in your life to see the price paid to make a fortune, see if you really want to pay that price... not a chance... 1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2018 Author Share Posted March 20, 2018 (edited) 3 minutes ago, row_33 said: i have a former co-worker who was there before it started becoming public, selling hard drives and parts for large markups for people to use for mining and he bought bitcoin at the start so he must have made a bundle when it skyrocketed he's now onto blockchain stuff and doing well i don't miss him but he was the type that was going to build a fortune by himself.... yeah, i remember you talking about your friend previously in this thread. i still believe we are on the ground floor of this thing. however it isn't going to last much longer. i do have to admit to it going sideways for a bit longer than i thought the current phase of consolidation would take originally. Edited March 20, 2018 by Foxx Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2018 Author Share Posted March 20, 2018 (edited) as for my manipulation comment, here is an interesting chart... https://imgur.com/a/FEd2W Edited March 20, 2018 by Foxx Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 20, 2018 Share Posted March 20, 2018 47 minutes ago, Foxx said: yeah, i remember you talking about your friend previously in this thread. i still believe we are on the ground floor of this thing. however it isn't going to last much longer. i do have to admit to it going sideways for a bit longer than i thought the current phase of consolidation would take originally. it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare. Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2018 Author Share Posted March 20, 2018 3 minutes ago, row_33 said: it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare. speaking of crooks....on the bright side, Goldman Saks bought the exchange Poloniex not long ago. this is another sign that tells me it is part and parcel of the early days of a movement and not what some might term a pyramid (in the traditional sense). Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted March 21, 2018 Share Posted March 21, 2018 On 3/20/2018 at 10:28 AM, row_33 said: it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare. You think one day we will wake up and all the bitcoins will be gone? The vault will be empty? Quote Link to comment Share on other sites More sharing options...
Mr Info Posted March 21, 2018 Share Posted March 21, 2018 Dorsey expects bitcoin to be world's currency in 10 years. https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html Quote Link to comment Share on other sites More sharing options...
row_33 Posted March 21, 2018 Share Posted March 21, 2018 46 minutes ago, Mr Info said: Dorsey expects bitcoin to be world's currency in 10 years. https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html i'll listen if he wagers his left nut on the chopping block Quote Link to comment Share on other sites More sharing options...
plenzmd1 Posted March 21, 2018 Share Posted March 21, 2018 (edited) I have registered to get info on the Coinbase Index Fund, looks like it has not started trading yet. 2% management fee seems like a lot for only having 4 assets in the fund. Quarterly withdrawals too, with at least 30 days notice. Guess that a big reason one must be an accredited investor. I see the requirements for that, but is there a process one must go through to get accredited? Edited March 21, 2018 by plenzmd1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 21, 2018 Author Share Posted March 21, 2018 (edited) 22 minutes ago, plenzmd1 said: I have registered to get info on the Coinbase Index Fund, looks like it has not started trading yet. 2% management fee seems like a lot for only having 4 assets in the fund. Quarterly withdrawals too, with at least 30 days notice. Guess that a big reason one must be an accredited investor. I see the requirements for that, but is there a process one must go through to get accredited? in the US, you simply have to prove that you made $200k for the past two years and that you expect that threshold to continue. if you are married, the threshold is $300k. Edited March 21, 2018 by Foxx Quote Link to comment Share on other sites More sharing options...
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