Is crypto currency...

  • Thread starter Thread starter Krull
  • Start date Start date
I know lots of friends that are invested in it, but none can tell me exactly what it is. It's not a currency, or at least not a stable one. As for stored value, I can predict the direction a fart in the wind will move better than bitcoin. If it's the expectation of wild returns, then that's fine. But personally I would have much more fun sitting at a table in Vegas if that's the case.
 
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Too volatile to be a viable currency, not a viable investment since it has no actual value. Crazy speculative. I’ll pass. Kudos to those who got in a few years ago but i wouldn’t jump in now.
 
This is the time to buy. LOL

You need to understand bull vs bear, and how you pull profits on both.
 
Bloodrock said:
Too volatile to be a viable currency, not a viable investment since it has no actual value. Crazy speculative. I’ll pass. Kudos to those who got in a few years ago but i wouldn’t jump in now.
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Volatility is good, allows you to get in.
 
Krull said:
I sure love my investments being down 40% and 25% in the blink of an eye.

Anyway, this isn't a viable currency as was stated earlier.

Trading it and scalping it, I agree is a better way to make money off of it.
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Lots of people are accepting it as a form of payment. The USD is going to shit and the government is giving it all away. We dont know what the future holds but I'm willing to bet it will be a digital currency to replace the USD.
 
JackTripper said:
This is true. If you are regularly day trading this stuff you should be keeping records because the IRS is cracking down. It's not a currency to them, it's a financial product.
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Yeah, of course keep track of it, the exchanges keep record of it anyway. For example I have a tenant that pays me rent via paypal, at the end of the year I just do a search in paypal to tally up how much he paid.

ultimately if you do it right you'll only owe taxes on gains anyway.

You could also use kucoin exchange if you want to cover your tracks. I don't cheat on my taxes so I don't use it.

JackTripper said:
And a lot of businesses are getting burned right now, because the bitcoin they accepted a week or two ago for their product has lost >60% in value.
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Not if they know WTF they are doing. They could accept bitcoin in payment, and immediately convert to USD, or they can have someone trade for them.


I've said it before, and i'll say it again DO NOT RESIST PROGRESS, you can't, and if you've got an emotional connection with the good ol days that is a recipe for self obsolescence.
 
[ Donnie B. ] said:
Words to live by in all facets of life!
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I learned that lesson in my 20's, I watched people try to stop progress, and fail miserably to their own detriment. Progress is not a choice, it's a force that happens. Move with it, or stay one step ahead (if you're that good)
 
JackTripper said:
I would guess most companies are holding bitcoin on their books right now because If they are willing to accept bitcoin in the first place, they are caught up in the madness.
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We'll some, and some may not. A merchant can accept BTC, and not be holding BTC at all.
 
CNutz said:
For example, bought DOGE at 0.27 this morning, 10 mins later sold at 0.37. tah dah! $370 worth of profit for a 10 min time investment is pretty god damn sweet.
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yeah but it was at $.60 last week. Now it’s in the toilet. Just because you got lucky and made some cash in 10 minutes dont mean shit. Lol.
 
Krull said:
Don't worry about me. I don't need to brag to people on Rig Talk about my investments ?

Clearly you are retarded and had to change the narrative of your original story ???
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Right? The guy thinks he's Rockefeller by the way he boasts about his profits, yet the pictures of himself prove otherwise.
 
"Hey guys! My SoyCoin just skyrocketed from .00000038 to .00001015! Soy lattes and tofu dogs are on the house!" ?
 
Krull said:
Here is LieNutz original post.

"For example, bought DOGE at 0.27 this morning, 10 mins later sold at 0.37. tah dah! $370 worth of profit for a 10 min time investment is pretty god damn sweet."

You said Sold 10 minutes later, but the fact is it didn't sell until 30 minutes later clown ???
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Hey man, I listed a guitar on eBay, and 10 minutes later I put a buy it now price. It didn’t sell for months, but it only took me 10 minutes of my time!
 
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