cancel
Showing results for 
Search instead for 
Did you mean: 

Crypto Currency

Established Contributor

Re: Crypto Currency

From my observation Bitcoin is genuine however right now it's more of a pump and dump scheme tread carefully.

Gardening 2020-2021
Total CL 113k+ UTIL 0.01% Uber Visa, DoubleCash, Quicksilver, Discover IT, Freedom Ulimited, Blue Cash, Premier Rewards GOLD
Message 11 of 64
Regular Contributor

Re: Crypto Currency

I am sure most savy investors are aware of this possibility and are hedged. It's already happened in the past several times, pandacoin for example. Of all the crypto criticism in this thread, it's just anecdotal opinions of people imho who have never owned any crypto and are regurgitating the false narrative of wall street and the big banks. I would love if more places adopted it so there wasn't a need to cash out to fiat currency. I like having free transfers to anyone I want anywhere in the world. If I was a tycoon of the banking cartels I would be against it but there is no reason for regular people to be so overwhelmingly negative without any actual reason besides (its backed by nothing, pump and dump, etc.)

I'll stick to the facts which are bitcoin has many advantages and an inflated price. I am sure it will crash so I am not holding right now but thats no reason to abondon it completely or talk trash based on misinformation (or no information lol).

Sign up on an exchange and trade some or heaven forfend read about it somewhere other than Forbes magazine or wherever people are getting their biased opinions about how bitcoin "isn't worth the paper it's printed on". That one made me really lol, or smh.


My credit .... It's over 9,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Message 12 of 64
Super Contributor

Re: Crypto Currency

https://www.bloomberg.com/news/articles/2017-12-14/north-korea-s-bitcoin-play

 

The idea that in the privacy of one's home or country they could break in and do this makes me glad my hard assets are in a safety deposit box.

 

Several people at work are into Bitcoin mining but I wonder if Bitcoin is the Napster of the banking industry.

 

O/T - Anyone want to get paid from work in crypto currency?

06/13/2018: FICO 821 EQ 814 TU 808 EX
Message 13 of 64
Established Contributor

Re: Crypto Currency

invest in bitcoin  ? an oxymoron. It you want to speculate with 5% of your money, go ahead. But expect to get a low or no return.

 

How do you value bitcoin ?? There is your answer.

Message 14 of 64
Established Contributor

Re: Crypto Currency

Saying crypto is backed by nothing isn’t being negative, it’s being factual. It’s only recognized as a currency by those who choose to recognize it. By contrast, a dollar is legal tender, meaning its law that it must be accepted as payment of a debt in the US. Not such backing exists for bitcoin or any crypto currency.

Identifying something as a risky investment doesn’t equate to criticism. Skepticism, sure, but not criticism.

I totally understand the logic behind pushing for more widespread acceptance, though. The more the general public gets on board, the more those already invested in it stand to gain.
Message 15 of 64
Regular Contributor

Re: Crypto Currency

That would be cool but I don't think things are going in that direction.  There is a new money laundering bill aimed at criminalizing bitcoin ownership senate bill 1241.  At the hearing for it the head of coinbase was there, didn't say anything about customers rights or privacy.  I think the good ol gubment who backs the dollar is going to do everything it can to stop crypto from being used.  The anti bitcoin "its backed by nothing" crowd A. are feeding right into it's suppression and B. don't understand math. 

 

https://cointelegraph.com/news/government-debt-getting-downgraded-thankfully-bitcoin-backed-only-by-...

 

Sorry my link doesn't come from bloomberg smh.



My credit .... It's over 9,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Message 16 of 64
Established Contributor

Re: Crypto Currency


Shenron wrote:
I am sure most savy investors are aware of this possibility and are hedged. It's already happened in the past several times, pandacoin for example. Of all the crypto criticism in this thread, it's just anecdotal opinions of people imho who have never owned any crypto and are regurgitating the false narrative of wall street and the big banks. I would love if more places adopted it so there wasn't a need to cash out to fiat currency. I like having free transfers to anyone I want anywhere in the world. If I was a tycoon of the banking cartels I would be against it but there is no reason for regular people to be so overwhelmingly negative without any actual reason besides (its backed by nothing, pump and dump, etc.)

I'll stick to the facts which are bitcoin has many advantages and an inflated price. I am sure it will crash so I am not holding right now but thats no reason to abondon it completely or talk trash based on misinformation (or no information lol).

Sign up on an exchange and trade some or heaven forfend read about it somewhere other than Forbes magazine or wherever people are getting their biased opinions about how bitcoin "isn't worth the paper it's printed on". That one made me really lol, or smh.

I said something positive about bitcoin and, I also love the idea of it but many people can really get hurt specially investing right now.

Gardening 2020-2021
Total CL 113k+ UTIL 0.01% Uber Visa, DoubleCash, Quicksilver, Discover IT, Freedom Ulimited, Blue Cash, Premier Rewards GOLD
Message 17 of 64
Frequent Contributor

Re: Crypto Currency

Check out this chart . Probably made im 2014. So far kind of accurate 

 

https://www.cnbc.com/video/2017/12/22/amidst-the-crypto-carnage-technician-says-now-could-be-your-be...

 

 

Mod edit:  image can be restored once QR code is removed.  --UB

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCU cashrewrds15.5K | NFCU more rewards amex 9.7K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 8.5K|Citi Double cash 7.1k| Chase Aarp 4.2K | Chase amazon prime vis sig 8K | Paypal 2% Cash back 300$ | US Bank Cash+VisaSig 1k | US bankAmex 500$ | Walmart MC 10K | Wellsfargo cashwise 1.5K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 150k CL all together

FICO SCORES- TU 737, EQ 710, EX 729 , AAOA 1 year. Inquiries TONS.
Message 18 of 64
New Contributor

Re: Crypto Currency


Strogen wrote:

Well, you can make MAJOR money on crypto but you HAVE to know what you are doing. 

 

Recently we had Etheremon and some people made 20K+ USD on that. On individual made over 250k usd.  I only had a little to invest but, I made my money back in full and then about $100. Not much, but it made more than all of my mining rigs combined that day. 

 

I mine Eth + Sia and right now mine and my roomates rigs bring in over $2200 USD monthly (non taxed , well, at least on coinbase the reporting limit is 20k yearly) . The rigs are fully paid off, they were bought may/june 2017. So now, its free passive income with the only recurring cost being power which cost eash of us roughly an additional $100 a month. I mined Dogecoin and LTC in 2013 but lost it all, right now what I would have had would have been worth 20k or so. Im not making that mistake now. 

 

You can make a LOT more investing in the right crypto, the real money is in alt coins (ripple, sia, etc...) becuase they have such a great fluctuation in price. Buy $1000 worth one day and it could easily be worth $1500 the next. 

 

I am more of a sure thing type of guy, and dont normally mess around on the crypto market but it is very clear, crypto is not dying, it is only getting much stronger. A few months ago Eth was at $200, recently it hit $800. 

 

Its like the stock market but much more volatile and with a lot more risk. You even have to be careful about which crypto exchange you buy at as some go down frequently or even halt trading. All I can say is, bitcoin is not what you want to invest in if you want to make moeny, the real money is in the Alts. 


That sounds concerning as you still owe taxes on that income when you "sell" by converting it to any fiat currency. Coinbase may not require reporting, nor issue 1099s, but you are still legally obligated to pay taxes on any income you take in (this is assuming you live in the U.S.). Coinbase also discusses this on their website, and provides links to IRS information. Here's the specific Coinbase FAQ link: https://support.coinbase.com/customer/en/portal/articles/1496488-taxes-faq

My cards are shiny
Shiny plastic in my hands
Shiny plastic cards
Message 19 of 64
Established Contributor

Re: Crypto Currency

I went ahead and setup a coinbase account but I'm not using credit cards to fund and for now I'll sit tight. Smiley Very Happy

Gardening 2020-2021
Total CL 113k+ UTIL 0.01% Uber Visa, DoubleCash, Quicksilver, Discover IT, Freedom Ulimited, Blue Cash, Premier Rewards GOLD
Message 20 of 64