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Bitcoin and Crypto-currency

By BayArea follow BayArea   2017 Nov 5, 3:36pm 63,363 views   545 comments   watch   nsfw   quote   share    


#investing

Hi guys,

I'd like to start a conversation on crypto-currency, particularly Bitcoin.

What do you all think about it from an investment point of view today? I have some buddies in the finance world who are quite bullish on it and claim we are just scratching the surface. Judging by the recent performance, they may be right.

For people who are investing in Bitcoin, what are you using to invest and what recommendations do you have for a new investor?

Also, how are gains taxed compared to typical stock market gains?

I read this week that over 100,000 merchants in the USA are accepting Bitcoin today.

At the same time, digital currency does scare me a bit as it seems so abstract. Curious what PatNet thinks.

Thanks guys!

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506   Newbie123   ignore (10)   2019 Jul 17, 7:21pm     ↓ dislike (0)   quote   flag      

great speech.

507   Newbie123   ignore (10)   2019 Jul 18, 6:03am     ↓ dislike (0)   quote   flag      

NC Congressman Patrick McHenry:

"The world that Satoshi Nakamoto, author of the bitcoin white paper, envisioned is an unstoppable force. We should not attempt to deter this innovation ... those who have tried have already failed."
508   Newbie123   ignore (10)   2019 Jul 19, 6:42pm     ↓ dislike (0)   quote   flag      

Some useful info regarding crypto taxes and FBAR

https://www.forbes.com/sites/baldwin/2019/07/18/bitcoin-irs-takes-on-the-crooksand-the-good-guys/amp/

As adoption of cryptos is quickly increasing, tax laws can change relative quickly as well. If you buy through a US based exchange, don’t even think about not paying taxes. The IRS has your trading history already.
509   Newbie123   ignore (10)   2019 Jul 21, 7:18am     ↓ dislike (0)   quote   flag      

#dropgold

510   Onvacation   ignore (6)   2019 Jul 21, 8:11am     ↓ dislike (0)   quote   flag      

How you gonna make digital gold into wedding rings?

Can bitcoin exist without REAL silver and gold?

A fool and his (sorry for assuming gender) money are soon parted.
512   Newbie123   ignore (10)   2019 Jul 31, 10:26pm     ↓ dislike (0)   quote   flag      

Pretty entertaining to watch. I do like Peter Schiff....and his gold card.

513   WookieMan   ignore (5)   2019 Aug 1, 3:31am     ↓ dislike (0)   quote   flag      

Newbie123 says
Pretty entertaining to watch. I do like Peter Schiff....and his gold card.


Right? I mean right? Jesus, he's unlistenable. Was there not a better bitcoin pumper they could have found?

The WWII cigarette analogy destroyed this "debate" around 19:00. Right?

This guy seriously just argued around 27:00 that you should trust a google search algorithm. lol! Right?

I'm not a gold bug, but Schiff destroys this guy. Right?

The debate is useless though without anyone disclosing their holdings. Both are pumping what they want to increase in price. Although I'd take gold before bitcoin...



Right?
514   Newbie123   ignore (10)   2019 Aug 4, 10:30pm     ↓ dislike (0)   quote   flag      

Going to the gym is like stacking bitcoin.....you’ll never regret it.
515   WookieMan   ignore (5)   2019 Oct 20, 6:49pm     ↓ dislike (0)   quote   flag      

Anonymous.... lol. I guess 300 people will just defend themselves in court that their child pedo habit was totally anonymous? They got the wrong guy? One reason I like bitcoin, dipshit's will think it's anonymous and we can throw their asses in jail. Another reason the value will continue to drop long term. Illicit fucks won't trust it anymore.
https://www.technologyreview.com/f/614578/bitcoin-surveillance-helped-feds-take-down-a-massive-child-porn-site/
516   Onvacation   ignore (6)   2019 Oct 24, 5:37pm     ↓ dislike (0)   quote   flag      

Bitcoin breaks $7500! Buy the dip! Or be priced out FOREVER!
517   FuckCCP89   ignore (5)   2019 Oct 25, 11:24am     ↓ dislike (0)   quote   flag      

Back up the truck, folks!
518   FuckCCP89   ignore (5)   2019 Oct 25, 11:25am     ↓ dislike (0)   quote   flag      

@Newbie123, where are you? Busy buying the dip?
519   Newbie123   ignore (10)   2019 Oct 26, 4:19pm     ↓ dislike (0)   quote   flag      

@liberal_in_blackface Totally agree! It was another great buying opportunity. It always is! Only people like Wookie_”man” sell when it retraces. And while those bitcoin haters/no coiners were hoping bitcoin will go to zero, smart people added to the position.

Remember, bitcoin died many times ;) in fact thousands of times....and look where we are now.
520   FuckCCP89   ignore (5)   2019 Oct 26, 4:25pm     ↓ dislike (0)   quote   flag      

Newbie123 says
@liberal_in_blackface Totally agree! It was another great buying opportunity. It always is! Only people like Wookie_”man” sell when it retraces. And while those bitcoin haters/no coiners were hoping bitcoin will go to zero, smart people added to the position.

Remember, bitcoin died many times ;) in fact thousands of times....and look where we are now.


Why double-posting? Trembling hands?
521   Newbie123   ignore (10)   2019 Oct 26, 4:30pm     ↓ dislike (0)   quote   flag      

Trembling hands could def be. Drinking at the pool since a few hours. Beautiful weather here in SoCal.

I did delete the double post. But you were quick to spot it. Clapping hands for you! Rockstar!
522   FuckCCP89   ignore (5)   2019 Oct 26, 6:08pm     ↓ dislike (0)   quote   flag      

Newbie123 says
Trembling hands could def be. Drinking at the pool since a few hours


Trying to drown your mounting loses in booze? Is our resident "MJ to the Moon" guy drinking there with you?
524   just_adhom_preaching   ignore (3)   2020 Feb 18, 10:11pm     ↓ dislike (0)   quote   flag      

Fox biz was pumping it today. Saying brilliant things like, "You don't even have to know the fundamentals to know it's about to take off by looking at the chart".
525   Onvacation   ignore (6)   2020 Feb 18, 10:13pm     ↓ dislike (0)   quote   flag      

It's gonna hockey stick any day now; to the moon!
526   WookieMan   ignore (5)   2020 Feb 19, 4:50am     ↓ dislike (0)   quote   flag      

Onvacation says
It's gonna hockey stick any day now; to the moon!

It's a manipulated market by the few that hold the most. So they decide when the hockey stick starts and cash out when they've made bank. That is evident now.

At my age crypto was all the rage 2 years ago with my peers. I've not heard 1 person talk about it in person the last 6 months. The only conversation was with my one good buddy who is a financial moron that was selling all his mining equipment... at a loss.
527   Newbie123   ignore (10)   2020 Feb 19, 11:23am     ↓ dislike (0)   quote   flag      

Yes, historically, a golden cross has been extremely bullish for the price.

The increased media coverage is also due to the price trading above 10k and the halving coming up in May.
528   WookieMan   ignore (5)   2020 Mar 9, 9:18pm     ↓ dislike (0)   quote   flag      

Newbie123 says
Yes, historically, a golden cross has been extremely bullish for the price.

The increased media coverage is also due to the price trading above 10k and the halving coming up in May.

lol. Down 20% since this comment. I suppose you "loaded up the truck" and are going to the moon.

Just buy real assets. It's not complicated.
529   Newbie123   ignore (10)   2020 May 12, 9:43pm     ↓ dislike (0)   quote   flag      

Guys, is now a good time to buy? I think So. historically the halvening event started a bull run. Let’s wait and see. Bitcoin was the most profitable asset this year. 100-250k should be on the horizon within the next 1-1.5 years.sry you will miss out again


Yes I know. It will trigger a dozen responses :) lol fuckin lol
530   FuckCCP89   ignore (5)   2020 May 12, 9:46pm     ↓ dislike (0)   quote   flag      

Newbie123 says
Guys, is now a good time to buy?


Absolutely. Go buy as much as you can. And don't forget to make screenshots of your holdings, because we'll ask next time you come peddling this shit.

Oh, btw, how about these screenshots of your past winnings you promised to show?
531   Cash   ignore (0)   2020 May 12, 10:07pm     ↓ dislike (0)   quote   flag      

I wouldn't rush (fomo) to buy BTC but at the same time not opposed I own a bit of JIC cryptos. The way I see it there is plenty of time to see how much if any of the halving has already been priced in. Top that off with the USD is so likely to make a tear higher and if I am proven right there will be plenty of discount pricing in BTC. Bitcoiners will find that the USD behind BTC/USD has real meaning.
532   Newbie123   ignore (10)   2020 May 13, 4:24am     ↓ dislike (0)   quote   flag      

Cash, yep, it wasn’t a serious question. I have been dollar cost avg into bitcoin and other crypto’s for a long time. I play the 4 year cycle game and have lots of patience.

You have an overwhelming amount of people here who absolutely hate bitcoin. They can’t help themselves but get triggered very easily. They celebrate like there is no tomorrow when bitcoin goes down by double digit percentages and are very quiet when it recovers. Their hope is it will go to zero. It’s always the same talk. “You are peddling”.....as if I had to convince some hillbilly to put his 10 bucks in savings into bitcoin.
And as if that would matter to the price.

These up and downs along the way are meaningless for me. I am not swing or day trading.

I am speculating the price will follow the stock to flow model over time as it has in the past.

Here another trigger sentence: bitcoin is the best performing asset in 2020.
533   WookieMan   ignore (5)   2020 May 13, 5:35am     ↓ dislike (0)   quote   flag      

Newbie123 says
You have an overwhelming amount of people here who absolutely hate bitcoin. They can’t help themselves but get triggered very easily.


BTC guy getting triggered before anyone has even said anything... That's the ultimate trigger. Lol.
534   Newbie123   ignore (10)   2020 May 13, 7:40am     ↓ dislike (0)   quote   flag      



For our gold bugs
535   FuckCCP89   ignore (5)   2020 May 13, 7:45am     ↓ dislike (0)   quote   flag      

Newbie123 says


For our gold bugs


Still no screenshots of your winnings? Why? Because there are no winnings, bwahahahahahaha!
536   Newbie123   ignore (10)   2020 May 13, 7:55am     ↓ dislike (0)   quote   flag      

Hehe, I knew that meme would be a hit. Lol
537   FuckCCP89   ignore (5)   2020 May 13, 8:03am     ↓ dislike (0)   quote   flag      

Newbie123 says
Hehe, I knew that meme would be a hit. Lol


Nobody gives a fuck about gold. Or that balding dude. We are simply annoyed by some loser trying to pump his losing "investment" in futile hope to pare his losses.
538   Cash   ignore (0)   2020 May 13, 8:47am     ↓ dislike (0)   quote   flag      

Using time tested and applicable market theory I am afraid to tell you USD could smash BTC easily as well as Gold due to mass deflation.
539   Cash   ignore (0)   2020 May 13, 8:52am     ↓ dislike (0)   quote   flag      

On a retest of that last high I am personally looking to dump in all the FOMO buying that may take place starting at 10400+/- and up to near 11k if I get it.
540   WookieMan   ignore (5)   2020 May 13, 8:57am     ↓ dislike (0)   quote   flag      

covid_shmovid says
Newbie123 says
Hehe, I knew that meme would be a hit. Lol


Nobody gives a fuck about gold.

That and/or you can cherry pick one guy that got lucky and point to that as an investment strategy. Schiff still has his money/value. Many other gold bugs do as well (side note I've never touched gold investments).

There are many people that have lost their assess bigly in crypto. How about showing their pictures? If you took the median crypto "investor" I'd guess 70% or so are on the negative side of the balance sheet with poorly timed trades. You're simply giving your money to billionaires, with very high risk trading/investing in crypto of any kind. Make your money, but as covid says, you seem to be pumping and have shown zero proof you have one US dollar (lol) invested in crypto.
541   Onvacation   ignore (6)   2020 May 13, 9:07am     ↓ dislike (0)   quote   flag      

Newbie123 says

You have an overwhelming amount of people here who absolutely hate bitcoin.

We {I} don't hate bitcoin. I do find it amusing that the little people think they can make a killing on it.

Just to remind you what you own:

010001011011101000010100010100010100011101010101101001001000010010010011010010010010100010101000101001110101010010101001010101010101001010101010010100001011010100101100011101001110100110100101010101010101!010001011011101000010100

When's the moon shot?
542   Newbie123   ignore (10)   2020 May 13, 11:59am     ↓ dislike (0)   quote   flag      

Covid shmovid you are not annoyed, you are just mad your prediction/hopes of bitcoin going to zero seem to not play out ;) Sry buddy
543   WookieMan   ignore (5)   2020 May 13, 12:31pm     ↓ dislike (0)   quote   flag      

Newbie123 says
Covid shmovid you are not annoyed, you are just mad your prediction/hopes of bitcoin going to zero seem to not play out ;) Sry buddy

Pretty sure I'm ignored, but whatever. I don't believe I've read a single comment on this forum that said it "should" be zero or is "going" to zero. It's a worthless long term investment. Time will tell the truth. But worthless doesn't mean you cannot make money off of fools.

You're the one that seems triggered out the gate after BTC being down for a while there champ and taking a break from the forum. You came out fighting yourself before a word was even said. Insecure about your investment much?
544   Onvacation   ignore (6)   2020 May 13, 12:58pm     ↓ dislike (0)   quote   flag      

WookieMan says
doesn't mean you cannot make money off of fools.

And if you don't know who the fool is...

It's not foolish to not buy bitcoin. We can still cash out our fiat accounts for bitcoin IF it becomes the "currency of the future".
545   Cash   ignore (0)   2020 May 14, 11:00am     ↓ dislike (0)   quote   flag      

Onvacation says
It's not foolish to not buy bitcoin


I agree with this statement. Actually for investors who like to be very diversified buying current selling isn't a bad Idea to park some cash and hold as a hedge with reasonable SL 9 k+/- or there about which I actually don't see price hitting that low but of coarse it could $8800+/- is a bit of a magnet on the downside. I see $15000 1st strike and $23000 2nd. I personally have no faith BTC will take over fiat or even be the 1 digital king in the end game for many reasons however with the current perception scared FOMO money is the best $$$ and could make BTC move fast and furious, and no Obummer needed to make it happen. I believe there is still enough movement and room to acquire house shares and harvest a persons original investment.

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