Bitcoin explosion and ALT coins thread

Status
Not open for further replies.
I just keep on selling down to 200%... just did it again. This is great but if it keeps going for another week or so, I'll have to stop at some point.
 
C-H-L said:
interesting

do you pay a flat % on the bitxoin you're paid in or is it based on your 'profits?

and if so, what if you lose money on bitcoin for the year?
Click to expand...

I pay my taxes on Bitcoin I receive during the year based on the tax band I have to pay within...... same as I would as if I was a self-employed let's say electrician filing my cash tax returns at the end of the year.
At the end of the year I pay the taxes based on the Euro value of the BTC on the day it hit my wallet. This euro value is screencapped in case of an audit.
I will pay the capital gains on the profit less their original value should I cash out some tokens. You don't pay tax on the profits until they are converted to another form of currency.

"What if you lose money on bitcoin for the year"......... I can't lose money on it until it is cashed out..... if it is ever cashed out fully.
You also have to realise that I have had this salary arrangement for a few years and this is not my only job.
 
Last edited:
C-H-L said:
I finally sold all my doge, half at 0.0055 or so and the other at a penny. its been under a penny for a few days now so i'm hoping i made the right call.

i'm not certain what to do with my bitcoin - i'm sitting at nearly 5x profit and i feel like we are so close to the next peak
Click to expand...

Generally it's good to take some profit on the way up. If I do a 3x profit, I take my initial investment out. Leave the rest because that's like a free moonshot bag. If it goes up again, I'll take another 20% out, etc.

With the money taken out, you can put that into other assets like stocks, etc. Or wait on the sidelines to rebuy when it dips.

But this strategy generally applies to alt coins. For BTC and ETH, I just try to accumulate.
 
Would you guys stay away from buying Bitcoin or Ethereum right now? I really want to buy more but not sure considering their value is at a high now. Not sure how long till it dips or if it continues to increase. The dilemma.
 
Wreckless said:
Would you guys stay away from buying Bitcoin or Ethereum right now? I really want to buy more but not sure considering their value is at a high now. Not sure how long till it dips or if it continues to increase. The dilemma.
Click to expand...

Following the trend over several years, it should crash or significantly go down. When or if that happens this time around, who knows?
 
Anyone use Cash App for this? I can't figure out how to invest in a separate crypto using it. I'd much rather everything be done through the one app. Google provides me nothing.
 
THC said:
Anyone use Cash App for this? I can't figure out how to invest in a separate crypto using it. I'd much rather everything be done through the one app. Google provides me nothing.
Click to expand...
you can send cash from your bank account to the various apps like robinhood or coinbase
 
I literally just setup my gaming laptop for mining BTC just to see.

It's got a 1060 in it and will make about $1.35 a day if I let it run all day after electricity. Not too bad for an older/slower card.
 
rj144 said:
I literally just setup my gaming laptop for mining BTC just to see.

It's got a 1060 in it and will make about $1.35 a day if I let it run all day after electricity. Not too bad for an older/slower card.
Click to expand...

the RTX 3070 is about the same performance as a 2080 for 1/3 the price and much less power consumption.

small_geforce_rtx_genreational.jpg


I have to say I'm surprised at the proliferation in-silico graphics operations for general computation. i did some work on one of the first computation projects (before NVidia even existed as a company) to use graphics hardware and never would have imagined this is where it would end up.
 
Smoke Detector Battery said:
the RTX 3070 is about the same performance as a 2080 for 1/3 the price and much less power consumption.

small_geforce_rtx_genreational.jpg


I have to say I'm surprised at the proliferation in-silico graphics operations for general computation. i did some work on one of the first computation projects (before NVidia even existed as a company) to use graphics hardware and never would have imagined this is where it would end up.
Click to expand...

Yeah, I was thinking of getting a desktop for editing astro photos. Thinking of a 3070 machine.

If I could mine on it and offset the cost and more, that would be sweet.
 
C-H-L said:
you can send cash from your bank account to the various apps like robinhood or coinbase
Click to expand...
I'm trying to move my ETH over to cash app in addition to my BTC and stocks. I've been using cash app for a few things over the past year. For some reason I think they only allow you to pick one crypto.
 
rj144 said:
Yeah, I was thinking of getting a desktop for editing astro photos. Thinking of a 3070 machine.

If I could mine on it and offset the cost and more, that would be sweet.
Click to expand...


it's $499. Do you really need to offset the cost of a $500 video card?
 
Status
Not open for further replies.

Similar threads

Brampton_Boy
Economy Bitcoin/Crypto is imploding
9 10 11
Replies
213
Views
5K
Rob Battisti
Rob Battisti
F1980
Did you start being serious in your retirement funding too late?
2
Replies
35
Views
471
cmw43
cmw43

Latest posts

Forum statistics

Threads
1,280,603
Messages
58,303,994
Members
176,000
Latest member
Furigo94

Share this page

Back
Top