Bitcoin explosion and ALT coins thread

[Hog-train]

Of course you can, i mean it's mostly just a speculative commodity people hold for gain that they will never spend, just waiting for it to go up. You will not sell now, that's my point.

Well can't the same be said of gold?

 

[mmafan2000]

Well can't the same be said of gold?

Yeah, i guess you are right. Ok, ill get bitcoin then.

 

[Henry Swanson]

Bought my house in 2009 or 08? Was it around that time?

I should find the thread on the Vesti on it

Yeah. 2009 is when it was circulated.

 

[Supereem]

Yeah, i guess you are right. Ok, ill get bitcoin then.

Gold has an actual purpose and unique properties. Completely different. This difference is key to managing risk - it’s easier to understand the supply and demand of something that has real world use as opposed Bitcoin (apologies to drug dealers and BJJ celebrities who actually use crypto).

The vast majority of the people buying now are doing it solely to sell for a profit. History tells us what happens next.

 

[lifelessheap]

Yeah. 2009 is when it was circulated.

Makes sense. The Humboldt fire was 2008 and we didn't live in Paradise for that fire. We bought our house the year after. Prices went down some because people were worried the town could burn down. Lmao. After the '08 fire the town was told to widen Skyway. The idiots REMOVED two lanes instead!

 

[Hog-train]

Yeah, i guess you are right. Ok, ill get bitcoin then.

When you think about the total worldwide marketcap of gold (10 trillion dollars), there is a lot more room for growth for BTC (around 680 billion.)

 

[Grassshoppa]

Do you have to pay capital gains when you "cash out" Bitcoin?

 

[Hog-train]

Do you have to pay capital gains when you "cash out" Bitcoin?

Yes.

 

[kenetics]

Do you have to pay capital gains when you "cash out" Bitcoin?

Yup. You'll be taxed at your income overall tax.


If you hold over a year, you will only be tax 15%

 

[rj144]

$34k now.

 

[kenetics]

$34k now.

 

[rj144]

Yup. You'll be taxed at your income overall tax.


If you hold over a year, you will only be tax 15%

That's one thing I'm not looking forward to this year.

 

[mmafan2000]

Gold has an actual purpose and unique properties. Completely different. This difference is key to managing risk - it’s easier to understand the supply and demand of something that has real world use as opposed Bitcoin (apologies to drug dealers and BJJ celebrities who actually use crypto).

The vast majority of the people buying now are doing it solely to sell for a profit. History tells us what happens next.

Exactly. Is anywhere here actually using bitcoin for something other than storing it?

 

[mmafan2000]

Yup. You'll be taxed at your income overall tax.


If you hold over a year, you will only be tax 15%

Just don't declare it, its none of anyone's business. It's sickening that now the greedy government wants to dip it's paws in your high-risk, private investing portfolio. No wonder bitcoin people are moving to Puerto Rico.

 

[kenetics]

Just don't declare it, its none of anyone's business. It's sickening that now the greedy government wants to dip it's paws in your high-risk, private investing portfolio. No wonder bitcoin people are moving to Puerto Rico.

It's actually going to be right on the front page of your W2 this year.

"Did you buy or sell crypto currency in 2020"

 

[rj144]

Just don't declare it, its none of anyone's business. It's sickening that now the greedy government wants to dip it's paws in your high-risk, private investing portfolio. No wonder bitcoin people are moving to Puerto Rico.

It's the same with any investment.

 

[Henry Swanson]

43k CAD and ETH broke 1k. Unreal.

 

[kenetics]

So exchanges are letting customer put in options that Bitcoin will hit 200k by the end of December 2021.

You got to be a real betting man to take that bet lol.

 

[thoughtsone]

Its doing what it did every couple years. This is not new, just the highs are higher and it will settle higher as well. I dont know about 50K by vday though, lets see who knows? I do think though that in about 4 -6 months it will be back at 20-30% of what its at now. I think this pattern will be fairly consistent for awhile.

 

[kenetics]

Its doing what it did every couple years. This is not new, just the highs are higher and it will settle higher as well. I dont know about 50K by vday though, lets see who knows? I do think though that in about 4 -6 months it will be back at 20-30% of what its at now. I think this pattern will be fairly consistent for awhile.

There's a big difference from last time because of multiple institution involved. There's competition between them to buy all the bitcoin that is mined every day.