Crypto-currencies: The future is now

[fatbob]

xrp Ripple is having a good run, number 2 to bitcoin, go go go you good thing....

Granted XRP Ripple is way up on last years value, but it took a bit of a correction on Friday
XRP Ripple Chart 1.png

XRP Ripple Chart Friday.png

But agree with you that is on the move heading upwards, even more.

Its put a smile on my face, could be a new bike soon....
Its still nearly 10 times its value from in early December 2017

pipoz4444

[ytrewq]

So, devil's advocate and conspiracy theorizing here, if Putin conspired to take down America, he would go after its tools of power: credibility and money, and then facilitate or engineer a crisis which would cause enough panic for the world to dump enough value into an alternative currency to cause the dollar to finally collapse. Just sayin'...

Go crypto, go!

[Giggle]

I think get-rich-quick schemes are the way forward for all serious investors. Diversify your portfolios by not converting all your cash and investments to bitcoin on the same day. Do it over a period of several days or even a week. What could possibly go wrong?

[wazza]

Read this today LOL

Want to know about BITCOIN ?????

A lot of monkeys lived near a village

A villager announced that he will buy the monkeys @ $100 each.
The villagers thought that this man is mad.
They thought how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. and sold it to the merchant.

After a few days, the merchant announced that he will buy monkeys @ $200 each.
The lazy villagers also ran around to catch the remaining monkeys!
They sold the remaining monkeys @ $200 each.
Then the merchant announced that he will buy monkeys @ $500 each!

The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each!

He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.
The merchant went home.
The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.
Then the employee told them that he will sell some monkeys @ $700 each secretly.
This news spread like fire. Since the merchant buys monkey @ $1000 each, there is a $300 profit for each monkey.
The next day, villagers made a queue near the monkey cage.
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return.
But nobody came! ... Then they ran to the employee...
But he has already left too !
The villagers then realised that they have bought the useless stray monkeys @ $700 each and unable to sell them!


The Bitcoin will be the next monkey business

It will make a lot of people bankrupt and a few people filthy rich in this monkey business.
That's how it will work.......................... ...

[ytrewq]

Your attempt at humor is flawed in so many ways. You don't offer up the average buy price, so whether or not the merchant made a profit is unknowable.

A lesson learned from the Internet bubble days: Profit is profit. Only fools make distinctions between "rational" or "irrational" profit. There will be winners (e.g. Amazon, Google, etc.) and losers (e.g. Barnes & Noble, Yahoo!, etc.). BTC is perceived to be the Google of crypto, and it is up over 1,400% YoY (and much more if in it since before 2017).

So, yeah, FUD all ya want, but the crypto market doesn't give two [expletive] what is posted here pro or con.

I think a severe economic event will happen by or between July-September this year which will moonshot crypto much higher. It's all sourced speculation on my part, but that's core to the fun of living life. I cannot lose because I already won.

[wazza]

It was a copy and paste . Not mine.

Just put out there

[fatbob]

You only ever play with what you can afford to loose, and if your lucky you win, bit like backing a horse.

[Giggle]

If you're smart with investments, you diversify. If you're too uninformed to understand how it works, you liken it to Vegas, a horse race, or some other game of chance. There are inherent risks in all forms of investments -- the risk of investing too conservatively is a risk -- and should be understood before venturing out to the track (er, broker, bank, or mutual fund). If you treat investing like a game of chance, your investments will behave like bets in a casino; they'll disappear before your eyes. People who take investing seriously know that if a scheme sounds too good to be true, it probably is. Ask Prisoner #61727-054 at Butner Medium, near Raleigh, North Carolina, he also answers to Bernie Madoff. I might consider investing in bitcoin but it wouldn't be a measure of blind chance, rather a calculated (high) risk, and would comprise no more than 1 percent of my portfolio. I have little confidence in the underlying fundamentals.

[fatbob]

Giggle we are talkng crypto currency's here, not stocks or bonds, investing in crypto's is like backing a horse, its all opinion, nothing more, they could go pear shaped any time.

[Giggle]

I agree it's risky, but so too are other investment options. If you're nimble enough, and want a rush in a country where its not illegal, why not? It doesn't suit my investing style, but I'm not so narrow minded to think some people have already made loads on it already. I'd be very worried about holding the poopy end of the stick when the music stops.
Elvis warned that "only fools rush in."
Don Quixote considered it a virtue to "run where the brave dare not go."

Up to you.

[Giggle]

THE cryptocurrency market has lost $US206 billion overnight in what traders are describing as a “cryptocalypse”, with bitcoin heading back towards its $US10,000 milestone first reached last November.

But it was smaller currencies including ripple, ethereum and bitcoin cash that were the hardest hit in the latest sell-off, which was sparked by fresh fears of a crackdown on virtual currencies by governments in South Korea and China.

At the time of writing, ripple was down nearly 50 per cent on the previous day, ethereum had lost nearly 34 per cent of its value, bitcoin cash was down nearly 37 per cent and bitcoin was down 27 per cent to just under $US10,200.

http://www.news.com.au/finance/money/in ... df3ef0f23b

[felixcat]

Do you understand the ramifications of buying into this "thing"?
If you buy this and it goes way up, then crashes, you will be held by the IRS until you pay the tax, or you will go to prison.
Don't buy it unless you can "get in and get out" retaining a big profit. Its not something you want to "put on your credit card, like so many "gamblers" of the world are turning to , to ease their hopelessness feelings of underfunded Social security or Pensions.
I posted a couple years ago about the need to have a Plan B. The haters came out with a vengence. But what happened? I am 100% right, again. Final word: your being set-up for the biggest robbery in history with the fake DOW Jones, cryptos, even "holding fiat paper" , and real estate. Its all coming down soon in the "perfect storn" set up in "unity" by all the governments of the world.
Rule of thumb: Follow the money. Not the gamblers, but the big banks and nations who will be the next BIG players. The shiney metal.

[Udon Map]

If you buy this and it goes way up, then crashes, you will be held by the IRS until you pay the tax, or you will go to prison. Don't buy it unless you can "get in and get out" retaining a big profit.

I assume that you understand that if you buy it and hold, you'll owe no taxes. Tax liability only comes when you sell it for a profit, i.e., after you "get out."

[wazza]

Paper Profits have no taxation obligations, till they are sold

[Giggle]

It's supposed to be a currency (cryptocurrency), yet it's treated as an investment or asset. What other currency is taxed when traded?

Edit: Here's a good explanation:
https://www.forbes.com/sites/jeffreydor ... 7007a92e5b

[wazza]

Capital Gains ....

Watch Taxation Agencies world wide move in on it.... Its how they rule as to how it fits in for tax issues... not editorials or marketing publications....

[felixcat]

Paul,
I am not 100% correct, but I know the IRS will do this with gold.
My gold purchases were before 2010 when they started tracking all gold purchases.
I do know this for a fact, everything bought online has "footprints". Today maybe no IRS, tomarrow can be "retroactive".
Some have been taxed and imprisoned for not reporting "gains".
This is how they work: If you bought Bitcoin at $8,000 and it goes to $20,000, then down to $10,000, you will be held for the "gain" on the $20,000.
So...again...if you got it and it goes high, buy something you need and pay the tax. It will be cheaper than paying with a court judgement. (Taxes are illegal)
crypto's are a scam, but with everything, those who got in early and sold made profits. Those who got in late become the (feeding minows) profits for those who got in early.
Just to keep "those" away from me, customs stole my gold upon entering BKK. Nothing illegal about this..went from Tampa, Fla (they took all the gold out of my luggage and tried to harrass me like a drug smuggler) told them gold is NOT money and is not taxed. Told me OK, pack it up and go. Then to Chicago Ohara..out with the gold, again same problem. Told them gold is NOT money and is not taxed. Hawaii 5 O got in my face and told me "Good luck getting that into BKK.
Next to S. Korea...Lady asked to see in my bags, told her can I go into a room to open my bags. No problem, she said Thankyou, I left. Then into BKK, got my bags, almost out the doors, then a "Hawk" spotted me....Hey You, Get those bags over here!. The Chicago guy called ahead out of spite to BKK knowing that their corruption will be able to rob me. Yes they did. Not a single Lawyer (lier) could get my gold back, "unless I paid them 1 million baht". (They are mostly all "redshirts".) What a stupid system!!
My gold purchases in 2009 at $998 per ounce went to $1,950 in 2011. 50% gain.Would have pushed me to about $500,000.
Did I cry or want to die? You can imagine...
My advice? Trade your crypto's for phisycal gold . There is only one major gold seller who will sell for crypto's, the one I bought from. I will not post it online, do your own research.
Why do I say this? http://www.usdebtclock.org/ Offically gold is $5,575 per oz. (it's down from $9,350)
When they finish crashing the dollar, the gold backed currencies are already set in place to take over.
For those who "listen", you will become "real" millionaires. Banks stock up on gold to keep. The crypto's are owned 85% by banks...they are set up to manipulate, and crash upon will.
Need I say more?

[wazza]

Felix if you buy a house in Australia for $1000 and it rose to $30000 in 5 years then it dropped to $15000 value when you sold it. IF had this as an investment property the capital gains tax is paid on difference between buying and selling price and nothing to do on speculation inbetween.

[ytrewq]

One must be truly daft to pay taxes on crypto gains; and regulation attempts by any single or consortium of governments is folly. Anyone (scroll up) who is preoccupied with tax issues does not understand crypto and deserves to pay the taxes. Better to stay on the sidelines and continue the armchair quarterbacking about a subject you don't understand and aren't in.

Regarding the price movements: Nobody who has been in it since pre-2017 cares. The long-term play is way, way, higher. To understand why/how, you need to first understand the game-changing impact of W. Bush's weaponization of the USD and global banking system and then also understand the moronic stewardship of the Trump era. There will be an event (but likely plural) this year that will trigger and support increased flight to crypto. The worst of it likely occurring between July and September, but continuing thereafter. Governments see it coming and recent moves are their feeble attempts to defend against it. Smart money sees it coming and recent evolution (think futures) is their wise attempt to profit from it.

In the interim, please continue with the laughably uninformed postulations. It's entertaining.

[ytrewq]

Gold: Holding gold is just dumb. During the housing crisis, which alternative asset was the among the first to tank? That's right: GOLD! It's the dinosaur's goto asset, and may be en vogue again generations from now, but it proved itself as incapable of holding value during a crisis - and that was a main attraction.

Another thing (there are many "things", but I'll stop here): You do NOT have an investment in gold unless you are in physical possession of it. If not, then you are "invested" in a piece of over-subscribed paper.

Bonus fact: Despite the hyperbole espoused by American professional pundits, Americans living in America are almost utterly unable to convert or trade gold. There are precious few gold shops in America; and hardly anybody knows where they are located.

Another bonus fact: Millennials, on the other hand, view crypto as Gold 2.0. Easy to move into and out of quickly, or remain in as a (yeah, laugh now) store of value. The future is theirs and they are choosing crypto as their money. To not recognize this fact and accept the paradigm shift puts you in the same category as the naysayers who proclaimed the horse as being irreplaceable as they passed by and sneered at the early automobiles constantly breaking down at seemingly every pothole. :-&