OT- Bitcoin
- Thread starter redwine65
- Start date
You know what, I need you to sit next to me when I'm talking to my accountant haha. All these good questions I don't think about.
I just know that she said if you sell at any point make sure you immediately deduct either 35% if you're under 240K and 48% if you're over 240k at the point of sale and immediately transfer it into the account I'm going to pay my taxes out of.
I am actually tempted to put it into CD or something and make money off that portion until it actually has to be relinquished to the IRS.
Yeah I was thinking it might drop on the 8th or the 24th of January if those dates are in fact the dates that the SEC will release their determination and if it is in the negative for an ETF ruling.
You'll have to pay taxes on those gains as well. Ha.
You should set up another account for those taxes too.
Just messing with you.
Already priced in. This isn’t a good thing. Now i gotta worry about black rock fvcking the housing market and crypto
Patience. Black Rock buying two billion in BTC is going to help solidify things not sure why you think it would hurt?
I sort of thought it would go up more yesterday but I am happy with small gains.
I have a feeling that things in crypto stocks will fall today though.
What exchange are you able to trade crytpo options on? Ir are you just talking equity options?
Crypto isn’t going to crash anytime soon. I took @dsmalls3 advice so I would no longer be a broke bitch and got into solana last week. Still in BTC also from last March.
Microstrategy was up about up about 100% this year if I remember correctly. Then when I read that Michael Saylor sold about $200 billion or so, I should have sold. But I waited until yesterday, then sold half. I bought it at the near bottom so I got that part right at least.
Good for you. I was disappointed to learn that Vanguard is playing Mommy and not allowing Bitcoin ETFs in their retirement accounts. I had plans to go to 5% BTC ETFs and let that grow tax free in my Roth. Damn you Vanguard.
What a bunch of crooks.
Blackrock is trying to help kill this country and looks like vanguard is right behind them.
I had a Vanguard 401K from the BNSF RR back in 2020. I seen Covid hit the news in December of 2019 and it spreading fast nation to nation.
I said to myself, yep, that's gonna affect the market when all these countries start shutting stuff down to attemp to control it. I was actually able to get someone on the phone and called and said I'd like to sell everything now, this was like Jan 2 or 3 2020. Dude was like, ARE YOU SURE!?!? I replied, yes I'm pretty darn sure.
I missed that 28k to 19k dow drop. What a knucklehead.
Then I called to buy back in at 20k I think it was and I couldn't get ANYONE on the phone. I sat for hours on hold.
Bastards....
I said to myself, yep, that's gonna affect the market when all these countries start shutting stuff down to attemp to control it. I was actually able to get someone on the phone and called and said I'd like to sell everything now, this was like Jan 2 or 3 2020. Dude was like, ARE YOU SURE!?!? I replied, yes I'm pretty darn sure.
I missed that 28k to 19k dow drop. What a knucklehead.
Then I called to buy back in at 20k I think it was and I couldn't get ANYONE on the phone. I sat for hours on hold.
Bastards....
Well, I sold because I was going to take some profits and invest in a Bitcoin ETF & get that tax free growth. And that grand plan got shot to hell because my Roth is with Vanguard. Vanguard isn't allowing Bitcoin ETFs because, you know, us simple minded folk can't be trusted to invest in such things.
Now I'm becoming more pro-Black Rock these days than I used to be. I think Black Rock turned the tide in the struggle to get a BTC ETF approved. They are the big boys and the SEC actually is willing to work with them.
It was impossible to tell. 50/50. Most are thinking we see one final pullback to $34k - $38k BTC. If this happens it will be bought up so quick, you'll need to be looking at charts all day to time it and be ready with cash.
I'm just chillin through end of 2024 - early 2025.
One note for folks hoping to ride the crypto wave in 2024 and not wanting to figure out how to invest.
Just invest in Coinbase.
It's perfectly correlated with the crypto market and it's going to have a really good 2024.
Fantastic buy opportunity at $139 right, a pullback from the last $187 top. Coinbase traded at $366 at the top of the last crypto cycle (Nov 2021). If I'm making an investment plan on Coinbase it would be to make a big buy right now, and then sell around a 4-5x December 2024. $550 - $600 would be a good exit target price.
For folks investing in crypto for first time, just remember - cash out around $125k BTC around Dec 2024. Roughly speaking. Don't round trip crypto and get rekted, because you will lose 70-80% and you will hate crypto.
Just invest in Coinbase.
It's perfectly correlated with the crypto market and it's going to have a really good 2024.
Fantastic buy opportunity at $139 right, a pullback from the last $187 top. Coinbase traded at $366 at the top of the last crypto cycle (Nov 2021). If I'm making an investment plan on Coinbase it would be to make a big buy right now, and then sell around a 4-5x December 2024. $550 - $600 would be a good exit target price.
For folks investing in crypto for first time, just remember - cash out around $125k BTC around Dec 2024. Roughly speaking. Don't round trip crypto and get rekted, because you will lose 70-80% and you will hate crypto.
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I talked to someone there back when I moved my Roth to them, but lately Vanguard's sterling reputation has been taking a hit. All of this automated crap is so frustrating for consumers to deal with. Try working with Amazon customer service sometime. Their "help" usually results in sending you the same long article to read over and over again.
Nice! What was your entry price for SOL? Another one I'd recommend (and you can buy on Coinbase I believe) is BONK. Set up to be the memecoin of Solana. If you look at what market caps DogeCoin and Shibu Ina hit last bull run, and then track them over where BONK is at MCAP wise now ($1 billion), it's possible to be a 25x from here. This is high risk though so maybe a 1-5% allocation.
Another one I like is WIF, but you can't buy that on Coinbase or other US exchanges. Have to buy via Phantom and use a DEX.
Also longing exclusively SOL is not for the faint of heart. One of my accounts went from $150k down to $105k within like 5 days when SOL bottomed at $85 or so.....that was pretty crazy lol. It's at about $125k now. If you don't like volatility stick with a higher allocation of BTC/ETH. You won't make as much money, but it's a lot less volatile.
How is Black Rock trying to kill the country? Not defending them, just asking. Black Rock and Vanguard are on opposite sides of the crypto issue.
Dude, I about died at Tim Dillon's rant here on Boomers and Black Rock!!! So funny
The automated answering services are easily one of my biggest pet peeves. I try to start calm and then start yelling “representative” over and over again until I lose my breath.
