Bitcoin

Missed the boat on that one.

How’s that? It’s tracking that way. 5 years, 10 years?

I don’t know and I never gave a timeline.

What percentage has it gone up since then? 200%, 300%, 500%?

I was thinking of you this morning............continued prospering to you amigo

https://twitter.com/100trillionusd/status/1357638054815621122?s=21

Thank you!! It’s twice as satisfying when you line your pockets while proving the haters, doubters, experts completely clueless.

Man that's some sweet chart porn

Bit and doge have done me really well, wish I had had the cojones to put about 30k into it.

I just bought 5,000 dogecoins. I wish I would have a couple weeks ago.

We have a some, idiot BIL talked the wife into it in 2011 so he was actually fairly smart years back on this one. I’m not the investment minded type but I think we’re currently rich.

Your gonna miss out on The Rocket to The Moon too if you don't get ya some pot stocks, They are smokin

What do you guys use to store crypto? Hardware, online app? My son brought this up yesterday and I have no idea

Trezor cold storage. It's basically an encrypted flash drive type storage.

Thank you sir, I guess that is a hardware type? Son mention zano 2 or something like that but said they can be a pita to set up

Just don't forget your password.

So is this "mining" really how biticon took off?

Yes back in the day. There are some nerds out there that did this when it first started that had a lot of bitcoin and turned into millionaires pretty much over night. A lot of them probably had it on a flash drive or hard drive and misplaced millions or forgot passwords to their encryptions and missed out on millions. Really wish I had done it and could retire now, but I missed the boat. It also didn't use to be so hard to mine either, before they created specialized machines to mine with you could mine with a regular computer. Now it would take 100+ years or so to mine one coin.

Pot stocks, name some that you are in. I could invest in that.

The IRS can really spoil the fun of investing. Folks with the cryptos sure better keep some records.

Some credit card bank announced a few days ago that they will accept Bitcoin for payment. Therefore, if you pay your credit card bill you cause a "taxable event." I imagine the FIFO accounting method is what the IRS will want. FIFO is "FIRST IN FIRST OUT." Therefore if you have had Bitcoin since it was $200 and pay a $5,000 credit card bill when Bitcoin is at say $40,000, then you owe the IRS tax on damn near all of that payment. I'm no CPA, so that scenario is my best guess based on other investment activity of my own when it comes to taxation.

https://www.nerdwallet.com/article/investing/bitcoin-taxes

Somes still wish they had their emus

The oldest bank in America will now be storing Bitcoin on behalf of its asset-management clients, according to the Wall Street Journal.
“Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.

https://www.zerohedge.com/crypto/americas-oldest-bank-adopts-cryptocurrencies
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oh its going mainstream with AI and Blockchain about to take over so much .

Bitcoin was as high as $57,500 Geez!

Thinking about shorting RIOT,MARA and CAN. All bitcoin mining plays. They've run up too far too fast.

Bitcoin going to a million before long

Bitcoin does not operate like a stock in a bubble that has factors to prove it is overvalued. The value is related to how many people want it and the lack of availability. I'm no expert, but I wouldn't short it.

I have no interest bitcoin itself,I'll leave that to the forex guys,or whomever. Only the peripheral stocks associated with it. And swing trading only.

Wonder if any sold their high dollar emus or beanie baby’s before the markets crashed😀

I would suggest being careful with the Feds. The Feds will defend the US Dollar no matter what.

The Fed's defense of the Dollar, at your worst moment, will be taxation. If for instance Amazon starts accepting BC, every single purchase will be a "taxable event."

If you bought BC when it was in it's infancy for a few hundred bucks, and bought a new truck truck today for $40,000, you are on the hook for tax on the difference.

Bitcoin accounting is a nightmare at best.

Fedcoin is soon to be released

Pass

You wont get to pass on Fedcoin. That will be the new currency.

Gonna be funny when they say you cant buy that bottle of whisky as you are past your quota.

Are you good with the feds limiting access to your Fedcoin account because your social credit score was dinged for jaywalking? It only happens if we let it.

I have done really well with bitcoin and other block chain currencies. Friend of mine's BIL works for the federal government and they are in subcommittees looking at this stuff. The fed wants to back it and allow it as currency. They do not want to replace our currency now but they want it to supplement what we have. My only regret was not having the nads to invest more. If I had I could have retired, and I mean that.

"Friend of mine's BIL works for the federal government"

Coach, I'm not disputing your statement, just throwing out this new term thrown around lately, "Optics." The optics of that statement are funny.

I'll mention again, Do a search on taxation of cryptos. I think a lot of people are setting themselves up for a not so fun time with the IRS. The IRS will want their share of the profits. The tax information on the subject is out there and is plain as day.

Leverage............kabooooom.

fedcoin.....its coming. I'm not making the word up.

I think your confused on the federal reserve.

Yes, you pay taxes on it, I've had to file all profits on it. Just like anything else.

I'm still mining Pi using my phone. They are beta testing a wallet (right now your phone is your wallet). And are starting the mining from desktops also.

They are still phase 1 but the more I read and the more work they put into this, the more I think it has a long term chance. Forgot how many millions of people have joined but it's a lot. I have my possible big payout theories in my head 5-10 years down the road. For free I'll give it a shot.

But companies like Riot is not bitcoin, it's a mining facility traded on the NASDAQ and shorting it would not have been a bad play at all. In Feb it hit a high of 79.50. Today's low so far is 32.62. All three have been falling off those highs in a steep downward trend. Last year these were just a penny stocks. They potentially have a long way to fall still.

Frankie needs to stick with the weather...

Over night BITCOIN falls below $40,000............

Time to buy the dip!

China says NO to crypto.......

BITCOIN closing in on $30k.

Do a search for "IRS crackdown on crypto currencies." There are plenty of articles.

If you as much as make a purchase with Bitcoin you have a taxable event. It is really no different that a stock trade.

I thought I read where China was going to introduce their own?

I'll stick with real estate, Gold, silver and ammo.