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Index »
Radio Paradise/General »
General Discussion »
Bitcoin
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Page: Previous 1, 2, 3, 4, 5, 6, 7 Next |
westslope
Location: BC sage brush steppe
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Posted:
May 30, 2021 - 1:30pm |
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islander wrote:
if you only post your trades afterward, then you can always be up. This is a secret of most people who perfectly time the market swings consistently.
Yes! This.
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islander
Location: West coast somewhere Gender:
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Posted:
May 30, 2021 - 1:24pm |
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rgio wrote: So are you still holding? If so...you're down. How far will you go?
if you only post your trades afterward, then you can always be up. This is a secret of most people who perfectly time the market swings consistently.
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 28, 2021 - 5:39am |
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rgio wrote: So are you still holding? If so...you're down. How far will you go?
Nope, still up. Goes any lower might buy the dip. I'm all Etherium now. More thoughts later. Out the door to work.
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rgio
Location: West Jersey Gender:
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Posted:
May 28, 2021 - 5:14am |
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kurtster wrote:
Yeah, went back in and will be holding as well going forward. We just went through a big adjustment and shake out and it's looking better again going forward. That and now I can actually use it to buy stuff should I want to.
So are you still holding? If so...you're down. How far will you go?
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miamizsun
Location: (3283.1 Miles SE of RP) Gender:
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Posted:
May 27, 2021 - 4:24pm |
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tyler cowen and mark carney whole interview is informative
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rgio
Location: West Jersey Gender:
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Posted:
May 27, 2021 - 3:26pm |
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kurtster wrote:
Oh, fear not. I never intended to use it. I'm trying to accumulate it. And being all in Pay Pal, it is highly documented. You do raise an interesting point. Accepting it for payment could also have the same implications. I need to be careful with my activity because my vinyl goes out via PP and I don't want to send out any unnecessary flags. Without going into details, I had my first audit at the age of 22. I took notes and learned a lot about these things. Everything was in order, but the experience was a serious eye opener. I am capable of doing my own long forms, but prefer not to right now. I'll pay a little for the service for peace of mind.
Imagine accepting $1M on Saturday for good or services... and waking up with a value of $500k on Monday. Not only did you lose $500k....but you owe tax on $1M, with loss deduction limitations on the missing $500k. There will be companies that go out of business because they won't have the money to pay the taxes.
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 27, 2021 - 3:02pm |
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rgio wrote: Kurt...prepare for the nightmare.
The IRS is going to make you show any capital gain/loss on the conversion for each transaction (it's a huge focus for them). I can't imagine the total shit-show of trying to reconcile gains and losses for buying coffee or a tee shirt. I would keep crypto as an investment and buy things with dollars. Keep all of the gains/losses obvious.
Just because you can use crypto to buy stuff doesn't make it a good idea.
Oh, fear not. I never intended to use it. I'm trying to accumulate it. And being all in Pay Pal, it is highly documented. You do raise an interesting point. Accepting it for payment could also have the same implications. I need to be careful with my activity because my vinyl goes out via PP and I don't want to send out any unnecessary flags. Without going into details, I had my first audit at the age of 22. I took notes and learned a lot about these things. Everything was in order, but the experience was a serious eye opener. I am capable of doing my own long forms, but prefer not to right now. I'll pay a little for the service for peace of mind.
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rgio
Location: West Jersey Gender:
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Posted:
May 27, 2021 - 5:30am |
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kurtster wrote:
Interesting. Just used PayPal to buy something and at checkout, I was offered the ability to pay using my crypto currency out of my account. This is a new option just made available. A new buying strategy. Make purchases when the crypto is at a high point in the day and worth the most.
Kurt...prepare for the nightmare.
The IRS is going to make you show any capital gain/loss on the conversion for each transaction (it's a huge focus for them). I can't imagine the total shit-show of trying to reconcile gains and losses for buying coffee or a tee shirt. I would keep crypto as an investment and buy things with dollars. Keep all of the gains/losses obvious.
Just because you can use crypto to buy stuff doesn't make it a good idea.
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 26, 2021 - 10:08pm |
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Steely_D wrote:
HODLing Down a bit but recovering nicely.
As someone on Reddit posted: "It's an investment, not a currency" to which I replied, "So it's a Beanie Baby?"
Yeah, went back in and will be holding as well going forward. We just went through a big adjustment and shake out and it's looking better again going forward. That and now I can actually use it to buy stuff should I want to.
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Steely_D
Location: Biscayne Bay Gender:
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Posted:
May 26, 2021 - 10:04pm |
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kurtster wrote:
Hey, steely, if you're still up % wise, now is the time to bail if you haven't already.
HODLing
Down a bit but recovering nicely.
As someone on Reddit posted: "It's an investment, not a currency" to which I replied, "So it's a Beanie Baby?"
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 26, 2021 - 9:54pm |
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Interesting. Just used PayPal to buy something and at checkout, I was offered the ability to pay using my crypto currency out of my account. This is a new option just made available. A new buying strategy. Make purchases when the crypto is at a high point in the day and worth the most.
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 23, 2021 - 12:07pm |
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westslope wrote:Yeah, bailed out earlier this morning right before the huge drop. Gonna sit and watch now. Prolly going down hugely some more. Still net ahead, but not much now.
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westslope
Location: BC sage brush steppe
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Posted:
May 20, 2021 - 7:17pm |
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kurtster wrote:I went back in this morning. So far so good.
Oh, and the pay out on PayPal was instant, no holds this time, so I can jump back in or transfer funds out when ever now.
Not worried about catching a falling knife? The headlines on Bitcoin have been rather dismal as of late. See: yahoo! Finance Bitcoin USD (BTC-USD)
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 20, 2021 - 6:50pm |
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I went back in this morning. So far so good.
Oh, and the pay out on PayPal was instant, no holds this time, so I can jump back in or transfer funds out when ever now.
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Manbird
Location: La Villa Toscana Gender:
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Posted:
May 18, 2021 - 9:36pm |
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Everybody's buying $ASS (no joke) but it's like a 50 step process to obtain. So no way, Jose. See the link to reddit for the instructions. Someone will probably get rich but it won't be me. I made my $200 bucks in BC and I'm outy.
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 18, 2021 - 9:25pm |
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So I just bailed as this new slide slides. Still up around 30%. Still not bad for a month. Coulda' got out at 98% but who knows the future for certain ?
Now to see what the new bottom is. My grub stake is intact and I have some extra to pay for the car repairs. I'll call round one of this little experiment a success.
Hey, steely, if you're still up % wise, now is the time to bail if you haven't already.
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westslope
Location: BC sage brush steppe
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Posted:
May 17, 2021 - 5:12pm |
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The Financial Times tells me that impersonators of Elon Musk have fleeced more than US$2 M in cryptocurrency scams. Americans have lost more than $80 M in scams between October 1, 2020 and March 31, 2021. Median 'investor' loss is $1,900 per person. Bitcoin, now at US$44,000. It was at $66K a month ago. FTC Data Shows Huge Spike in Cryptocurrency Investment ScamsMay 17, 2021 New data spotlight points to more than ten-fold increase in reported losses in last 12 monthsAnd if I recall correctly, Tesla is no longer accepting Bitcoins as payment. Pass the popcorn.
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Isabeau
Location: sou' tex Gender:
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Posted:
May 14, 2021 - 2:45pm |
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Invisible Monopoly Money.
Next?
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kurtster
Location: where fear is not a virtue Gender:
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Posted:
May 14, 2021 - 5:19am |
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westslope wrote:"resistance" in technical analysis (TA) is based on some kind of exponential or moving average which are supposed to capture investor sentiment. Example (but one): where 50 day moving average and a 200 day moving average cross will identify a "resistance" level.
Before you dismiss this out of hand, there are lots of well educated, smart people who either trade exclusively based on TA or use it to supplement a more fundamental analysis approach to investing and trading.
Don't like it? Well, there is always the Soviet central committee approach to managing an economy...... To understand what enlightened politically appointed committees can do to an otherwise performing economy see the radical Neo-Marxist populist regimes in South America and Africa. They are world class, frankly the 'greatest' when it comes to destroying social-economic wealth.
You are correct about defining resistance. I used to know this stuff in detail back when I was doing metals. Oversold and undersold, and much more stuff. I have pretty much forgotten how to articulate it, but retain the understanding of the concepts. As I mentioned I do look at the curves, read tidbits, look for patterns. Unlike metals, this is more gut than anything else tempered by my existing knowledge and experience from metals. Unlike commodities, crypto is not consumed. It has no material use or need. Supply is somewhat fixed. Mining it is not an easy thing to do and things like forks happen such as Bitcoin Cash from Bitcoin which affect supply and demand. Again, I have forgotten so much in a way to be able to articulate it properly. Yes, it is a casino. My eyes are wide open. As I have mentioned earlier, it does not seem to react as drastically and as quickly as metals do (did) with a mid east crisis or some other sudden geopolitical events or financial event, like changes in interest rates. Musk did knock the snot out of cryptos and they did react. I still went to bed that night and woke up to much lower numbers, but still 60% up from my entry point. I was a couple hundred bucks away from 100% Saturday night, early Sunday. Since then the curves are finding a new bottom range, yet still sloping upwardsish when looked at over a longer time period. Speaking of going to sleep when things are happening, unlike metals, you can buy and sell 24 /7 . You don't have to wait for your local market to open, which is usually too late even if you have formal buy and sell orders in place. FOREX also has a big impact on metal prices just simply based on the worth of your local currency. Other markets are open when the USA's is not. But resistance points have been broken, substantially. The retreat is also about as much down as it was up, so in my thinking the reaction has been proportional. I'm not overly worried at present. I'm going to let things ride for now. Of my four choices to work with, my two picks are still the best of the four. And going forward, the green guilt trip thing will fade away as those who are concerned about that aspect will soon be gone if not already. Eh ? wtf do I know ? This is an experiment for me. And most importantly it has been low stress as was hoped for.
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black321
Location: An earth without maps Gender:
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Posted:
May 13, 2021 - 8:45am |
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westslope wrote: Better late than never. Funny how Elon Musk seems to have a lot of those moments.
Wish he would do some more research before opening his big, rambling mouth but what the heck, eh? American needs more misinformation.
I don't blame the tweeter, as much as the tweetees who listten.
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