Alt Coin investments

Discussion in 'Bitcoin and Cryptocurrency' started by ChrisBchicken, Nov 21, 2017.

  1. ChrisBchicken

    ChrisBchicken Member

    I’m definitely will involved an attorney whenever I cash out (assuming I’ve made a considerable amount in profit). I’ve read another strategy before converting to usd is to make big purchases with bitcoin since they can’t be taxed. More places are accepting crypto. Example would be to buy a house, car etc with bitcoin and then transfer after that and pay taxes. What’s your thought on that?
     
  2. ulfbehrt

    ulfbehrt Member


    So with your method you're only paying the taxes once, I see. How can one buy a house without big brother knowing how it was paid for? Taxing profits from crypto's is a fucking crime if you ask me. We pay a SHIT TON of taxes here in Canada so for the government to stick their greasy fucking hands on stuff like this is just outrageous! The point of taxation is not to gouge us at every chance and I don't know about you folks, but when big brother tries to take money away from my kids to give to third world countries or some shit like that I get VERY angry!

    Ok didn't sleep well last night lol :p
     
  3. ChrisBchicken

    ChrisBchicken Member

    Yeah I agree about the taxes on it. But I rather pay it than go to jail for tax evasion haha. I'm just trying to limit my exposure. But this is all assuming that I actually make a large profit on it. Fingers crossed.

    I just bought a Ledger Nano to store my different investments.
     
    DrinkFlintWater likes this.
  4. ulfbehrt

    ulfbehrt Member

    I wonder how much tax there would be if cashing out a cool million? Depends on the country of course.
     
  5. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Ill have to get back to you on that, tbh. I do see billboards however, for realty companies that are advertising BTC. Not so much in my area but in NYC, im noticing it become mainstream(just in the past few months).

    Excellent hard wallet, good choice!
     
  6. ChrisBchicken

    ChrisBchicken Member

    Blockfolio is a good app to have to track your portfolio in the different currencies if you use a hard wallet. You just add a transaction of quantity and price that you purchased at. It will track it compared to current prices and let you know what you’re holding.
     
  7. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

  8. ulfbehrt

    ulfbehrt Member

  9. ChrisBchicken

    ChrisBchicken Member

  10. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    I got in at .14-.19 & im holding onto alot.
    Even at .24 is still good...hopefully it hits 1.00 or more soon, pulls back to 1.00 then balances out...i hope it will progress from there.
     
    ChrisBchicken likes this.
  11. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    I completely agree- its just the possibility of this idea could be pan out to be quite interesting. Coinbase is blowing up in number of new cuatomers/accounts; its just inevitable more alts will be added.
     
    ChrisBchicken likes this.
  12. ChrisBchicken

    ChrisBchicken Member

    I also purchased POWR. I think it has good potential. Vert is another one that I'm trying to purchase but doesn't seem like anyone on Bittrex is accepting my bid.

    Do you guys think Bit will burst? I've been reading more and more about the bubble and I'm bullish on it and was thinking of adding more but hesitant.
     
  13. Millard Baker

    Millard Baker Member

    Who knows. But it must be closer when everyone becomes an investment expert on cryptocurrencies. Witness Jose Canseco giving out advice nowadays:




     
  14. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    At this point, I have no clue who to listen to on cryptos anymore..whether its Jose Canseco or Eric my barber...too much conflicting info..i was following a guy for awhile off youtube...then slowly but surely he kept pushing these online seminars, then shilling trading companies etc etc...i just had to walk away from all that...or click away depending on how you look at it...
     
  15. Dema

    Dema Pharmacom Rep

    Guys come on........

    If you think xrp can hit $150 hell even $15 in near future.. You have no idea what the fuck your doing....

    Just because it's cheap doesn't mean it doesn't have money already invested...you have to look at the supply Of coins...


    Also that rumor about ripple being on coin base is months old.. But still comes out again and again.. Even if it does launch don't expect $1 with 40 BILLION coins floating around
     
    jJjburton likes this.
  16. ulfbehrt

    ulfbehrt Member

    So what do you think the top 5 coins to invest in are?
     
  17. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Why not expect at the very minimum $1? Also, wasnt aware of the coinbase rumor, just came across it today, actually.
    So current circulating is 38 billion, slightly more or round up i see where you get 40. Now, if total cap is 100 billion, do you know what the release is expected? Meaning, how many xrp's are expected to be released and how often?
    I think 30 billion are being held off, already, not sure if they'll be released until its time to cash out(i could be completely off on that number) but lets say at some point, all 100 billion are released, even at $1...we have 100 billion. The hope is that banks will not only adapt the Ripple blockchain but also xrp itself. 100 billion for banks is miniscule in comparison to their market cap. Now, the issue i see is this: a few days ago, i mentioned a link where american express and a few other banks picked up Ripple. I looked into more and xrp is not being used. If this trend continues, then i completely agree, xrp will and has been a waste of time. This is a confusion is what i think is fluctuating the xrp price; mass confusion. Myself included! :confused:
     
  18. Dema

    Dema Pharmacom Rep

    There are many different types of investments... Low risk, high risk etc...

    I know the crypto system and how coins and projects works... I'm a mid term trader.. I buy and sell for profit after a few weeks or month.. I invest in small market cap coins... so far I'm in profit about x15. This is my focus...and it's constantly changing day by day


    As far as long term investments.. I don't have no idea.... My goal is to get as much Bitcoin and Eth as possible from the smaller coin gains...
     
    jJjburton likes this.
  19. bonacris

    bonacris Member

    Cardano looks like a good one. Some very talented guys behind it.
     
  20. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

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    Millard Baker likes this.