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Cryptocurrency mega-thread

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Affidavit said:
Anyone doing this for a living atm or looking to in the early year?
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Not quite, though XRP gains have meant December-February is dedicated entirely to travelling with no work. I've also been trading the fluctuations and making a bit off that, though it's more when I'm in front of a computer rather than scheduling time to do so.
 
So I’m 3/4 so far.

I’ve got 300,000 RDD.

I don’t mind just leaving it and HODL, the way I’m assessing it is there’s big troughs followed by huge pumps atm.

If that tweet means RDD grows during the current trough and still pumps, even better.
 

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juss said:
Do you guys wait for the tweet, buy and sell a few hours later?
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I literally caught the tweet at 22 seconds old. I transferred my coins in (still using Coinspot) as fast as I could.

Within a minute or two I was $900 up. Then it started to fall back down and I locked it in at $850. You've got to be on the trigger, it happens so quick.

The night before I tried to grab DGB 30 minutes after the announcement and the action was all over.
 
You're a bunch of stargazers. How will you turn these altcoins back into fiat? Aren't you worried about the tax implications? I don't wanna pay a dime of tax on this, and I shouldn't have to. That's why I don't sell. I'm holding all the tokens I've got for the long term. Waiting for the day when crypto banks are a thing and you can transfer or cash out large sums of crypto or buy property/cars with it. That's what I'm waiting for. That's the day when we can say "f the banks" and take control of our own destinies.
 
woota said:
You're a bunch of stargazers. How will you turn these altcoins back into fiat? Aren't you worried about the tax implications? I don't wanna pay a dime of tax on this, and I shouldn't have to. That's why I don't sell. I'm holding all the tokens I've got for the long term. Waiting for the day when crypto banks are a thing and you can transfer or cash out large sums of crypto or buy property/cars with it. That's what I'm waiting for. That's the day when we can say "f the banks" and take control of our own destinies.
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I don’t sell anything! I just move it into a coin I plan to hold for the long term.

Soon you’ll be able to pay for everything with crypto so no plan on moving it back to fiat.

Edit: Viva La Revolution!
 
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woota said:
You're a bunch of stargazers. How will you turn these altcoins back into fiat? Aren't you worried about the tax implications? I don't wanna pay a dime of tax on this, and I shouldn't have to. That's why I don't sell. I'm holding all the tokens I've got for the long term. Waiting for the day when crypto banks are a thing and you can transfer or cash out large sums of crypto or buy property/cars with it. That's what I'm waiting for. That's the day when we can say "f the banks" and take control of our own destinies.
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Why convert back to fiat? I’d prefer to use the exponentially increased crypto values in a few years to pay for other things, like property. The demand to spend crypto on goods and services will drive greater payment options. It’s already starting to happen.

Moral of story: tax avoided.

Edit: What Yellow Feathers said.
 
Props to yellow fingers and summer nights. That's the type of response I was hoping to elicit from you. I hope you're right. Crypto debit cards that enable transactions where you spend crypto while the merchant recieves payment in fiat will be mainstream in as little as 2 years IMO. There's a lot of competition in this space - TenX, Tokencard, Monaco, and Ubiq should each have a working product available in 2018.
 
woota said:
Props to yellow fingers and summer nights. That's the type of response I was hoping to elicit from you. I hope you're right. Crypto debit cards that enable transactions where you spend crypto while the merchant recieves payment in fiat will be mainstream in as little as 2 years IMO. There's a lot of competition in this space - TenX, Tokencard, Monaco, and Ubiq should each have a working product available in 2018.
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Yes! I was going to mention TenX. I think OmiseGo might be doing something similar? Platforms that convert crypto to fiat are the go. Probably only a matter of time before we see the mass adoption of something like Litecoin or Digibyte in retail.
 
Good strategy, I also am holding to avoid tax. That was my biggest concern, how to avoid losing large chunks of profit to capital gains tax. The day most places accept cryptos for goods and services is the day we become winners.
 
I've been on Redd since it was sitting at like 11 sats; sold half at around 75 sats yesterday. If only I were awake like night and sold the rest at the 125+ lol

Good on you guys for riding the pump!!

Merry crypto christmas to you all!!
 

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Centra is doing debit cards too and their price has soared this week (after a rocky start).
 
Quixote said:
Centra is doing debit cards too and their price has soared this week (after a rocky start).
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Watch out for the same to happen with Monaco. I’ve put a lot into Monaco. Everything is lining up, TA, announcements, card distribution.

Perfect storm.


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every exchange I've wanted to join is currently not taking new customers, making life difficult, really need Poli deposits back on coinspot and btc
 
Summer Nights said:
Why convert back to fiat? I’d prefer to use the exponentially increased crypto values in a few years to pay for other things, like property. The demand to spend crypto on goods and services will drive greater payment options. It’s already starting to happen.

Moral of story: tax avoided.

Edit: What Yellow Feathers said.
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So hypothetically speaking, let’s say I have $500K worth of bitcoin. Can I go and purchase a house for $500K with my bitcoin, and then sell the house 6 months later for $499,999.95 and accept my payment in cash - thus avoiding any CGT?
 
tigertigertiger said:
every exchange I've wanted to join is currently not taking new customers, making life difficult, really need Poli deposits back on coinspot and btc
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I was lucky enough to deposit the amount I was comfortable with to get into this space before the deposit cut offs. I don’t plan on investing anymore FIAT... ever.


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prodigy said:
I was lucky enough to deposit the amount I was comfortable with to get into this space before the deposit cut offs. I don’t plan on investing anymore FIAT... ever.


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Not the case here unfortunately, I will not be happy if the future is buying btc or eth to then transfer over to another exchange to buy the crypto I'd rather have
 
KingNothing said:
So hypothetically speaking, let’s say I have $500K worth of bitcoin. Can I go and purchase a house for $500K with my bitcoin, and then sell the house 6 months later for $499,999.95 and accept my payment in cash - thus avoiding any CGT?
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Good question. We will have to see how its use is regulated, but I would hazard a guess that that kind of thing will be scrutinised by the tax man, as frustrating as it may be. One thing’s for sure, it’s going to get mighty complicated.
 
ash_1050 said:
Centra is currently facing a class action lawsuit, the same as a lot of these scam coins will also end up facing.
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Yes saw that, glad I don't hold, hasn't stopped them - yet.

Who else are scams IYO?
 
Liking XLM. Surely only a matter of time before Johnny boy spruiks it ;)
 

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