Cryptocurrency |OT2| Money's New ERA Shoots for the Moon! | Read OP for Thread Rules

Brandson · Mar 31, 2018

Occam said:
Sorry, but this is all pure speculation, based on nothing. There is no precedent. Nobody knows where the bottom is, and most will not be able to get back in until the rebound is well underway.

It is speculation, yes, but the speculation is not based on nothing. Hold or not is up to you.

TarNaru33 · Mar 31, 2018

Occam said:
Sorry, but this is all pure speculation, based on nothing. There is no precedent. Nobody knows where the bottom is, and most will not be able to get back in until the rebound is well underway.

I don't know why you say this when many people have been accurate in their "predictions".

Occam · Mar 31, 2018

TarNaru33 said:
I don't know why you say this when many people have been accurate in their "predictions".

https://en.wikipedia.org/wiki/Self-fulfilling_prophecy

TarNaru33 · Mar 31, 2018

Occam said:
https://en.wikipedia.org/wiki/Self-fulfilling_prophecy

I should have expected this response lol... I can agree that I believe it is a self-fulfilling prophecy in a way because everyone is using it as their benchmark. Still pretty accurate though.

GS_Dan · Mar 31, 2018

The thing about self-fulfilling prophecies is that they are fulfilled

Sloane · Apr 1, 2018

TarNaru33 said:
I don't know why you say this when many people have been accurate in their "predictions".

We tend to remember only the ones that go right though. There were also "predictions" here saying trading and holding BTC / ETH should be fine for the next months after the drop to and rebound from 6k. Personally, I wouldn't want to hold either right now -- miners will have to continue selling off no matter the price, for example -- but I'm gonna keep my two remaining alts and hope for the best.

Occam · Apr 1, 2018

Sloane said:
We tend to remember only the ones that go right though. There were also "predictions" here saying trading and holding BTC / ETH should be fine for the next months after the drop to and rebound from 6k. Personally, I wouldn't want to hold either right now -- miners will have to continue selling off no matter the price, for example -- but I'm gonna keep my two remaining alts and hope for the best.

Only 1800 bitcoins are mined per day, that's only a tiny fraction of what is traded each day.

Sloane · Apr 1, 2018

Occam said:
Only 1800 bitcoins are mined per day, that's only a tiny fraction of what is traded each day.

Add fees on top of the new coins and you are close to 500 million dollars (at current prices) probably leaving the market each month just to pay for electricity bills and investments. That's quite a chunk, no?

Prologue · Apr 1, 2018

principal said:
What a week. December was like hitting the jackpot. I don't think I will ever make that much profit that quick ever again.

Even if I buy at the dip, public perception has left crypto. So we will never have influx of that much new money again. I have less than $5K in crypto now, mostly so I can check on how the market is doing.

I always remember this saying; "The only way to make money with Bitcoin is to sell your coin for more than you paid for it". Crazy times ahead.

I'm holding vechain but this is what I fear, regarding public perception and the potential or lack of potential of new money.

Donos · Apr 2, 2018

Bithumb is going to list Vechain. News gave it a little boost.

Sly Chimera · Apr 2, 2018

Verge going up and staying strong.

Lidl · Apr 2, 2018

Furthermore, Park indicated that the S-Coin could be used as a payment method for city-funded welfare programs for public employees, young jobseekers and citizens helping the environment by saving electricity, water and gas.

To accomplish this, Park said the laws governing cryptocurrencies would need to be changed, adding that "in order to make an S-Coin, we need to prepare institutional and legal support such as bylaws," he said. "I will try to change the various laws and regulations of the central government."

This reminded me of an interview with a crypto hedge fund representative in which he predicts a bullish summer due to the looming emergence of credible custodial services which is posed to attract big institutional money: https://unconfirmed.libsyn.com/ari-...-on-the-crypto-downturn-and-why-it-could-turn
Starts at 08:28.

Donos · Apr 3, 2018

Donos said:
When you think ICOs would slow down... or people would pump less $$$ into them...
https://medium.com/satis-group/cryptoasset-market-update-b678aeda4c5e

Adding to that that the Floyd Maywether and DJ Khaled supported ICO (Centra -CTR) seems also like a scam, investigated by the SEC.
https://www.sec.gov/news/press-release/2018-53#.WsK_vRoKlKA.twitter

The Securities and Exchange Commission today charged two co-founders of a purported financial services start-up with orchestrating a fraudulent initial coin offering (ICO) that raised more than $32 million from thousands of investors last year. Criminal authorities separately charged and arrested both defendants.

Over thousands of coins and tokens with almost any "use case" but people still pump millions into ICOs, in hope of riding a future Unicorn.

Lidl · Apr 3, 2018

There you go. GPU miners will mine something else or sell off their inventory.

AlsoZ · Apr 3, 2018

Lidl said:
There you go. GPU miners will mine something else or sell off their inventory.

Because this thing will totally not be sold out immediately, marked up immensely and then force most miners to keep using GPUs anyway

Lidl · Apr 3, 2018

AlsoZ said:
Because this thing will totally not be sold out immediately, marked up immensely and then force most miners to keep using GPUs anyway

Yeah, but they will have to move on at some point. This thing replaces 5 1080TIs according to whattomine.

AlsoZ · Apr 3, 2018

Aaaand already sold out, amazing.

HayaoYamaneko · Apr 3, 2018

Bear market coming to an end or fake out? Feels like we haven't had enough pain yet but the market works in mysterious ways...

Brandson · Apr 3, 2018

HayaoYamaneko said:
Bear market coming to an end or fake out? Feels like we haven't had enough pain yet but the market works in mysterious ways...

Anything is possible, but after considering many possibilities, I believe that the most likely scenario for now is that this is a temporary bottom that could allow BTC to rise to up to a high of around 8k before hitting new lows. It would not surprise me to see the ETHBTC ratio fall more if BTC continues to rise.

Note that I'm not saying BTC will definitely hit 8k, only that that is as high as I see this move being able to go. Trade/hold at your own risk.

DieEnteWurzel · Apr 3, 2018

what is going on with Verge? +50% over 24h?
did I miss that announcement?

Lidl · Apr 3, 2018

DieEnteWurzel said:
what is going on with Verge? +50% over 24h?
did I miss that announcement?

I was asking myself the same question earlier today. I guess it's speculation aka buying the rumor:
https://www.reddit.com/r/vergecurrency/comments/89ebcm/whats_the_hype_why_xvg_price_is_up_35/

People are gambling on the content of an announcement going to happen on the 17th of April which is supposed to be a major deal pushing Verge in the top 3 on coinmarketcap. If you want solid returns, hop on the hype train and stay till the 16th. If you keep on riding till the 17th, prepare for a crazy ride because on the 17th it will either spike or dip hard, depending on the announcement or lack thereof.

Sly Chimera · Apr 3, 2018

DieEnteWurzel said:
what is going on with Verge? +50% over 24h?
did I miss that announcement?

Going to be huge!!!!! I'm Hyped.

AlsoZ · Apr 3, 2018

I think you need to stop reading at "People are gambling"
The rest is just fluff

criesofthepast · Apr 4, 2018

Donos said:
Adding to that that the Floyd Maywether and DJ Khaled supported ICO (Centra -CTR) seems also like a scam, investigated by the SEC.
https://www.sec.gov/news/press-release/2018-53#.WsK_vRoKlKA.twitter

Over thousands of coins and tokens with almost any "use case" but people still pump millions into ICOs, in hope of riding a future Unicorn.

I made money on Centra and mentioned it on the old site and maybe here as well. I also said it was 100% a scam. Had all the warning signs.

HayaoYamaneko · Apr 4, 2018

HayaoYamaneko said:
Bear market coming to an end or fake out? Feels like we haven't had enough pain yet but the market works in mysterious ways...

Whoopsie!

Creamie · Apr 4, 2018

Been reading about that guy on reddit who is owing 50k in crypto taxes, and his crypto now (well, was) only worth 30k. He made that post a month ago and just put an update out. His lawyer urged him to liquidate whatever he had left in crypto, which is now down to 20k. So in the end he basically owed 50k in taxes over 7k initial investment, but never actually realized any of the profit into USD. Completely fucked. He is in the hole 37k for essentially getting back nothing.

What would you guys do in this situation? I don't believe any of this has been reported to the IRS. How is everyone else in the USA doing with their taxes?

Personally if I had the choice between paying 30k in payment plans over "x" amount of years, or just trashing it all.. I would just go with trashing it all. It never got reported to the IRS, and nothing ever hit his bank account showing a return.

https://www.reddit.com/r/personalfi...ate_i_just_discovered_that_i_owe_the_irs_50k/

Occam · Apr 4, 2018

Creamie said:
Been reading about that guy on reddit who is owing 50k in crypto taxes, and his crypto now (well, was) only worth 30k. He made that post a month ago and just put an update out. His lawyer urged him to liquidate whatever he had left in crypto, which is now down to 20k. So in the end he basically owed 50k in taxes over 7k initial investment, but never actually realized any of the profit into USD. Completely fucked. He is in the hole 37k for essentially getting back nothing.

What would you guys do in this situation? I don't believe any of this has been reported to the IRS. How is everyone else in the USA doing with their taxes?

Personally if I had the choice between paying 30k in payment plans over "x" amount of years, or just trashing it all.. I would just go with trashing it all. It never got reported to the IRS, and nothing ever hit his bank account showing a return.

https://www.reddit.com/r/personalfi...ate_i_just_discovered_that_i_owe_the_irs_50k/

The guy is an idiot. He made $250k in 2017, didn't set aside anything for his 2017 taxes and then reinvested the entire sum into alt-coins in early 2018.

Creamie · Apr 4, 2018

Occam said:
The guy is an idiot. He made $250k in 2017, didn't set aside anything for his 2017 taxes and then reinvested the entire sum into alt-coins in early 2018.

It is easy to not think about tax implications with crypto. Some of it is due to how fast/easy it is to make trades and if you go coin-coin you don't actually "cash out" what you are trading. I don't really fault him for not realizing it, I am sure a lot of people who are doing crypto aren't thinking about taxes.

Occam · Apr 4, 2018

Creamie said:
I am sure a lot of people who are doing crypto aren't thinking about taxes.

Yes, they are idiots, too.

Donos · Apr 4, 2018

Well, at the end of 2017 he probably thought he could be a millionaire with his 270k in crypto (if it would rise like before) so he didn't cash out. Then came papa bear. Whoops. Still, the taxes in the US for crypto are still a bit fucked up.

GS_Dan · Apr 4, 2018

We're all going to be so much more conservative when the bull market rolls around

SonicXtreme · Apr 4, 2018

mt gox guy did an AMA on reddit

https://www.reddit.com/r/Bitcoin/comments/89o16y/im_mark_karpelès_exceo_of_bankrupt_mtgox_ask_me/

Freakzilla · Apr 4, 2018

So I haven't looked at my ETH since Christmas...what the hell happened?

djplaeskool · Apr 4, 2018

Started making small trades and moves at these dips. Nothing major.
Still just mining and hodling. Thanks to pretty cheap power and some obsessive fine-tuning, I'm still quite profitable there.

ironichaos · Apr 4, 2018

Freakzilla said:
So I haven't looked at my ETH since Christmas...what the hell happened?

Sorry man, the bubble popped while you were gone. There's the chance it may drop further, so something to consider if you're going to hold or buy back in later.

GS_Dan · Apr 4, 2018

We're tulip farmers now

ironichaos · Apr 4, 2018

Another shitty list of shitcoins available for withdrawal from CoinsMarkets.

aerm,ivc,spc,Bix,KLT,BTCX,HIGHT,LTK,BCCS,LTG,radia,MYCE,jew,puzcoin

Lidl · Apr 5, 2018

Lack of regulation is holding back the market. Once that is sorted we could see a sustained bullish period.

Sloane · Apr 5, 2018

Anyone following the Verge "hack"? That dev is starting to make Tron look like a solid project. Not sure why it isn't dumping harder.

https://bitcointalk.org/index.php?topic=3256693.msg33924018#msg33924018

IchigoSharingan · Apr 5, 2018

Anyone else go all in on Tron before tonight's 44% surge?

Donos · Apr 5, 2018

Sloane said:
Anyone following the Verge "hack"? That dev is starting to make Tron look like a solid project. Not sure why it isn't dumping harder.

https://bitcointalk.org/index.php?topic=3256693.msg33924018#msg33924018

That is something... not that i had a high opinion about Verge anyway... That recent beg for money was already lol-worthy.
But new partnership announcement !!! MOON !11111

Donos · Apr 5, 2018

Reserve Bank of India bans crypto...

BP Kanungo, the Deputy Governor of the Reserve Bank of India (RBI) just announced that entities regulated by RBI shall not deal with or provide services to any individuals or services dealing with or settling virtual cryptocurrencies. All Banks are regulated by the RBI and hence, they will not be allowed to provide their services to Cryptocurrency exchanges.

At this point, it is too early to call it a complete ban on Cryptocurrencies in India. We need to wait for further confirmation on this, since it was not discussed in detail. He also said existing entities should terminate their relationships within 3 months.

http://www.crypto-news.in/news/legal/rbi-bans-indian-banks-dealing-cryptocurrencies-plans-crypto/

djplaeskool · Apr 5, 2018

Yikes, this Verge situation looks like a huge mess.

Lidl · Apr 5, 2018

Sloane said:
Anyone following the Verge "hack"? That dev is starting to make Tron look like a solid project. Not sure why it isn't dumping harder.

https://bitcointalk.org/index.php?topic=3256693.msg33924018#msg33924018

Here is a short summary:

criesofthepast · Apr 5, 2018

IchigoSharingan said:
Anyone else go all in on Tron before tonight's 44% surge?

Me! I have made a nice buck on Tron in the last 24 hours.

Creamie · Apr 5, 2018

Verge stuff is insane.. Devs tried to fix it and failed a hard fork, so they will try again. Apparently the hackers have a few more tricks up its sleeve to screw Verge up more.

I really hate I am down so much from a few months ago, I guess everyone is, but still crossing my fingers the market will recover.

Cipherr · Apr 5, 2018

Sloane said:
Anyone following the Verge "hack"? That dev is starting to make Tron look like a solid project. Not sure why it isn't dumping harder.

https://bitcointalk.org/index.php?topic=3256693.msg33924018#msg33924018

Im never going to understand what anyone saw in that damn coin. Its sole claim to fame was a big mouthed 'creator', and a pump that happened to literally ever coin with a high supply and a cost below $1 during the bull run.

Now the subreddit and Discord has morphed into a cult like following that insta bans anyone that asks a question or has even miniscule worries. Its like T_D over there.

Sly Chimera · Apr 5, 2018

Creamie said:
Verge stuff is insane.. Devs tried to fix it and failed a hard fork, so they will try again. Apparently the hackers have a few more tricks up its sleeve to screw Verge up more.

I really hate I am down so much from a few months ago, I guess everyone is, but still crossing my fingers the market will recover.

Man I bought in at .03 and killing it. My friend bought in at like .001 or something. We will be at a dollar soon don't worry.

Sirpopopop · Apr 5, 2018

Yeah I stay out of Verge and I urge everyone I know to stay out of Verge. It's a poorly run operation.

vehn · Apr 5, 2018

Yeah but if verge hits the price of Bitcoin someday, I can retire

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