I am glad my use of BTC as a hedge provides you with a good laugh. Jimmy Valvano said we all need to laugh very day. At least I am contributing to your good health.
There are chances to earn good bucks but it is good if you can invest your mind and analysis to something which can return more.
I think I may be right that not a single crypto coin pays a dividend. Why ? Because the owners are just pocketing the cash and are too mean. Back a few centuries ago the penalty for messing with the coinage in this country was amputation of the right hand and one testicle. OOOOCH !!!
this is why Satoshi is still nameless and faceless... rest assured that someday the drug dealers he ripped off will catch him.... and what they will do with the right hand and the testicle.. that I am not sure. I'd be fine if Satoshi is all flat and the crowd is trusting him for his good will.... but this guy/party still owns a lion's share... he owns 5-8% known shares, and who knows what% of anonymous shares.... and the public is still putting blind faith in him.... as if somehow a fake Japanese name automatically is worth 50 IQ points or something. People are so blink it's unreal.
From the mezzanine of cyberspace you are one of the best posters on this forum. You exhibit maturity and wisdom. Please keep posting your thoughts about the various ico's and btc. Please be honest if you think it might head down some more. fwiw, some here listen to you. Thanks.
My proof showes that there are alot of people who are victims of the manipulations and fake expectations. But each time I show hard proof you try to deny it. You can check yourself the proof as you always request. Even the posting of Hoi, trying to make people buy while he was selling is hard proof on ET.
Thank you for the post Bitcoin price currently at ~$7,700 seems to have found support. I trade long term cryptos so I'm willing to ride it out if bitcoin goes back down. Honestly, there are a lot of things in development if someone is looking to hold past a few months. Bitcoin is the reserve currency in the cryptos space as it's the gateway to the fiat cash-out or for purchasing goods and services (these are taxable events). Personally, I hold less than 1 btc as I'm diversified to other cryptocurrencies (and 2 ico's that have not released the coins). The cryptos trading environment is a world of opportunities and risks, that if ET traders would have given it a chance, they could make a killing (or lose all their money). The volatility is huge. It is too much to explain into words, but examples are easier. I had a trade in elastic (xel) ico, and turned ~$600 to over $100K at the time they were sold for bitcon (way before the change in 1031 exchange rule was signed, so these are all cryptos, nothing was exchanged to $, but just for tax recording purposes and worth more now in $ value). Sounds impressive, but this is actually a butchered trade (sold many xel to btc way too early, and some way too late), and could have gotten twice the value. Another trade was Credence (crdnc) ico. Again before 1031 rule was signed, $20,000 to $120,000. Another butchered trade could have been $300K+. The other thing that's making the numbers inflated was btc was pumping at the conversion time , $120K is only worth $60K now. Another trade is Tezos. $15,000 (6btc = 36,000 tezos), biggest ico at the time last year, June 2017, about to release the coins making the trade worth $190K (in pre-release futures markets). This is not set in stone, when the coins are released it can either pump or dump (doubt sideways) as many have been waiting for this (many bagholders are waiting to sell, but the other side is that this could be the most exciting ico to release at this time). Of course I have failed trades as well, (eigencoin and sre) $30K+ to less than $2K and $15K to $500, but the opportunities are there. And there are trades that have lost and gained high percentages as well that are not even worth mentioning as they are not triple digit. These trades are not unique to me and I have missed countless trades that others profited from. $1,000 put into Stellar (xlm) on 3/1/2017 is worth $172K+, $1,000 into Antshares (before NEO rebranding) on 3/1/2017 is worth $500K+, or how about $1,000 into Verge (xvg) on 3/1/2017 is now worth $1.8M+. I could mention so many cryptos that have trounced bitcoin gains the past year. https://www.cryptoground.com/what-if?amount=1000&coin=XLM&day=03-01-2017 My point is that I'm here defending and explaining bitcoin to non-cryptos traders/investors but I'm in cryptos long term (drank the koolaid) so if bitcoin goes back to $1,000 or even lower, it will suck big time but I can handle it, or if it goes back to $20K, I'll be very happy, but I won't be cashing out to $. One caveat to the above, trading cryptos due to the recent change to the 1031 exchange rule (specifically targeting the cryptos, imo), is much harder, so due diligence is needed. I've made exactly 1 trade since that was signed which I'm holding longer than 1 year. https://www.forbes.com/sites/greats...rouble-with-like-kind-exchanges/#3bb03ce626a8 If it’s not like-kind property, it’s not a like-kind exchange. Section 1031 specifically excludes stocks, bonds, notes, and indebtedness. It does not mention “cryptocurrency” or “virtual currency” since Section 1031 predated the advent of cryptocurrencies. In March 2014, the IRS issued long-awaited guidance (IRS Notice 2014-21) labeling cryptocurrency “intangible property,” but the IRS did not address the use of Section 1031. Investors and traders hold Bitcoin as a capital asset, so it receives capital gain and loss treatment. The AICPA and others requested further guidance from the IRS, including if investors could use Section 1031. The IRS has not yet answered in public.
1031 tax deferred exchange applies to tangible property used in trade or a business. The IRS definition of “trade” is different than what retail equities, futures, currencies, etc. trader may think of. Buying and selling various cryptocurrencies will not qualify for 1031 tax treatment anymore than an investor “exchanging” SPY for DIA. To me, the only attraction the cryptos have is there is a higher proportion of unsophisticated participants versus other markets. This implies there may be easier money to be made because sentiment indicators and chart patterns may be more reliable. However, due to transaction costs, account security issues, and potential regulatory changes it is not worth for me to participate. I suppose you could simply blindly buy all new cryptos, hope you don’t get hacked or otherwise lose your coin and hope the ones that do go up exceed the ones that go down. However the aforementioned idea implies two things: 1) The person who attempts to blindly buys these things does not have edge in trading. If they did, they would focus on their proven system in the particular market they are confortable in. 2) There is potentially no limit to supply for cryptocurrencies with all these new “issues” coming out. This apparent ramping up of supply does not bode well for price appreciation potential as has been seen in the past. In addition, it is likely that someone will cross some lines in hyping their coin and invite a regulatory response when someone prominent gets hurts directly or indirectly. By indirectly, I mean a credit card issuing bank losing money because the customer finds a way to bypass their cyptocurrency restrictions, loses their creditline, and the bank is left holding the empty bag. There is no such thing as free money. Unsophisticated participants end up paying the sophisticated traders. At least with equities, a long term investor can collect dividends and or participate in likely long term appreciation of solid ETFs or companies.