OT- Bitcoin

[CT-NUred]

In 2015 I had a designer working for me (I own a marketing company)
He required payment in Bitcoin - the job was animating some web banners for me - I paid him 1k for the job - which was 4 bitcoin (at the time) - I call him and remind him of this every year when BTC hits new highs - - At today's price - that 1k payout would be worth close to 190k

Before you ask - He sold them and transferred them to his bank account about a week after this transaction.

 

[mkbrkloster]

Appreciate the newby perspective. Do you transfer to cold storage ?

No, I use Coinbase storage.

 

[redwine65]

on coinbase pro I just white list my bitcoin, so it can only send it to addresses I allow

 

[GBRforLife1]

on coinbase pro I just white list my bitcoin, so it can only send it to addresses I allow

Whitelist some to my acct.

Might be a good discussion for the other thread, how long until "whitelist" becomes problematic. I think there was a thing on it already. Lol.

 

[redwine65]

Whitelist some to my acct.

Might be a good discussion for the other thread, how long until "whitelist" becomes problematic. I think there was a thing on it already. Lol.

coinbase pro suggested I do it in a pop-up on their site.

I exchanged 1 bitcoin on coinbase pro for the same amount of egld on voyager.
then musk buys bitcoin the next day:/

but the egld pumped to the same amount the bitcoin was worth the next day

now I just have diamond hands with both!

 

[GBRforLife1]

coinbase pro suggested I do it in a pop-up on their site.

I exchanged 1 bitcoin on coinbase pro for the same amount of egld on voyager.
then musk buys bitcoin the next day:/

but the egld pumped to the same amount the bitcoin was worth the next day

now I just have diamond hands with both!

Egld will 10x
Btc will 3x

Plus with egld you can stake for 7%+ right now and more in a month.

Did you download Maiar yet?

 

[redwine65]

Egld will 10x
Btc will 3x

Plus with egld you can stake for 7%+ right now and more in a month.

Did you download Maiar yet?

not yet, I will, I don't know alot about staking, does it mean you just let your crypto sit in their exchange?
or do you have to do something else?
I was looking at blockFi for my bitcoin for 8% interest

 

[salsa red]

There's rumors apple is going to buy a large amount of bitcoin, that could increase the market even more than the tesla purchase.

 

[litespeedhuskerfan]

There's rumors apple is going to buy a large amount of bitcoin, that could increase the market even more than the tesla purchase.

Why would Apple let something like that out ahead of time? If small timers like you or I hear that rumor, you can bet everyone else did to, so you have to ask yourself how legit it is. My answer would be, it isn't.

 

[salsa red]

Why would Apple let something like that out ahead of time? If small timers like you or I hear that rumor, you can bet everyone else did to, so you have to ask yourself how legit it is. My answer would be, it isn't.

There's a few articles about it, there was a few major bitcoin events that hosted a lot of ceo's this month. Bitcoin, while volatile, has far outpaced the dollar. The dollar is a declining asset with inflation while bitcoin will likely keep outpacing the dollar by a good margin. If you have a ton of cash like apple and tesla do it is wise to put a small portion into bitcoin.

 

[NikkiSixx]

I think seeing this thread now at 8 pages, reminds me when everyone was talking about bitcoin in late 2017.. Most of us know what happened soon after.

 

[GBRforLife1]

not yet, I will, I don't know alot about staking, does it mean you just let your crypto sit in their exchange?
or do you have to do something else?
I was looking at blockFi for my bitcoin for 8% interest

With blockfi I do believe it will sit on the exchange.

With egld you stake at wallet.elrond.com and it stays in your wallet. In abt a month you will stake on Maiar and it will still stay in your wallet I think.

 

[GBRforLife1]

Why would Apple let something like that out ahead of time? If small timers like you or I hear that rumor, you can bet everyone else did to, so you have to ask yourself how legit it is. My answer would be, it isn't.

Consider, Elon was just prodded to buy BTC by Saylor on Dec 20, 2020 and by Feb 8, 2021 Tesla bought $1.5B.

Apple is sitting on piles of cash it doesn't know what to do with.

 

[GBRforLife1]

I think seeing this thread now at 8 pages, reminds me when everyone was talking about bitcoin in late 2017.. Most of us know what happened soon after.

View embedded media

So 8 pages is when things become a bubble?

 

[drubendall]

So 8 pages is when things become a bubble?

This is the first thread in the history of huskers illustrated that I've ever taken notes.

 

[NikkiSixx]

So 8 pages is when things become a bubble?

well they say when your uber driver starts talking about it, you're in a bubble.. 8 pages on a football board likely qualifies in my estimation

 

[salsa red]

This is just the beginning. Bull market will likely go into summer and maybe fall. Bitcoin likely hits 50k this month, 70 ish next month and 6 figures by the end of the cycle. Once a few more corporations start putting money in the rest will follow. Getting in now with as much as you can afford to lose can potentially make you life changing money if you invest wisely. Just putting into etherium will likely make you 3-5x your investment.

 

[redwine65]

4 of them pages is my idiocy of flip flop'in between egld, bitcoin, ether and ve chain, vgx, uni & chainlink..
:/
I hope the irs guy ate his cheerios to follow all that,
he will quickly discovery I'm not a cartel, but I sell low and buy high alot, with a lot of transfer fees...
I'm glad I been learning the market and crypto during a big bull run, otherwise it would have been brutal.

 

[NikkiSixx]

4 of them pages is my idiocy of flip flop'in between egld, bitcoin, ether and ve chain, vgx, uni & chainlink..
:/
I hope the irs guy ate his cheerios to follow all that

The guys I follow are big into Link, ADA, & Dot..

I think BCH/BSV is much better then BTC core, and likewise, Tron and Tezos might end up better than ETH. Some believe changing to proof of stake, and having a non fixed supply make ETH not the best long term.

I get the first mover advantage, but I wonder if this won't end up like the dot com bubble.. all the original players getting wiped out and the crypto that comes after that, could be the ones that stick.

 

[redwine65]

The guys I follow are big into Link, ADA, & Dot..

I think BCH/BSV is much better then BTC core, and likewise, Tron and Tezos might end up better than ETH. Some believe changing to proof of stake, and having a non fixed supply make ETH not the best long term.

I get the first mover advantage, but I wonder if this won't end up like the dot com bubble.. all the original players getting wiped out and the crypto that comes after that, could be the ones that stick.

it's all pretty above my head still

 

[burmano]

All in on LINK

 

[GBRforLife1]

This is the first thread in the history of huskers illustrated that I've ever taken notes.

The guys I follow are big into Link, ADA, & Dot..

I think BCH/BSV is much better then BTC core, and likewise, Tron and Tezos might end up better than ETH. Some believe changing to proof of stake, and having a non fixed supply make ETH not the best long term.

I get the first mover advantage, but I wonder if this won't end up like the dot com bubble.. all the original players getting wiped out and the crypto that comes after that, could be the ones that stick.

There are more than a few duds, that's for sure. There will be plenty of wipeouts, but there will be some big winners too.

It's kind of like the stock world without billion dollar VCs. And if you take too long like ETH you lose out. And it's global.

 

[Suhrreal]

Tesla down over 5% today. Was that supposed to happen? Bad, bad sign for crypto if that continues.

 

[huskerhooligansdotcom]

Tesla down over 5% today. Was that supposed to happen? Bad, bad sign for crypto if that continues.

After being up several hundred percent the last few years, I’ll think they’ll be ok. Their Bitcoin purchase is already way way up. There is also some sort of negative Chinese regulator news recently too that is weighing on big tech.

 

[GBRforLife1]

Tesla down over 5% today. Was that supposed to happen? Bad, bad sign for crypto if that continues.

Only up 100% in last 6 months. What a dog.

Most think it's way overvalued now.

The idea that it's a bad sign for crypto of a stock goes down is silly.

 

[mkbrkloster]

To change the topic briefly...how are taxes handled with crypto assets, gains, and losses? Similar to capital gains for stocks? Will I be getting tax statements from Coinbase, etc.?

 

[huskerhooligansdotcom]

To change the topic briefly...how are taxes handled with crypto assets, gains, and losses? Similar to capital gains for stocks? Will I be getting tax statements from Coinbase, etc.?

I don’t know the answer to the first part of your question but yes I believe Coinbase will provide tax docs for you.

 

[redwine65]

I used these guys cause I went to 2 different exchanges and 1 online wallet site

CoinLedger — The #1 Free Crypto Tax Software

Calculate Your Crypto Taxes in 20 Minutes. Instant Crypto Tax Forms. Support For All Exchanges, NFTs, DeFi, and 10,000+ Cryptocurrencies.

cryptotrader.tax

some people say the point of crypto is not paying taxes, thus reducing government control / over taxation / communist bondage
but the new tax forms says 5 years of prison or a 250 thousand dollar fine.

so it's a catch 22 type deal.

a person should probably get most of their crypto on US exchanges and report that to the irs

then buy some manero & bitcoin on binance (not us binance), and keep it on a hardware wallet..
incase one has to exit the country or for vacations after covid , lol

 

[salsa red]

From what I understand, It's like other investments. You will be taxed on gains but if you hold it for at least a year you will be taxed less.

 

[Suhrreal]

Only up 100% in last 6 months. What a dog.

Most think it's way overvalued now.

The idea that it's a bad sign for crypto of a stock goes down is silly.

It's a bad sign for crypto because crypto is a risk-on asset as is Tesla. Any deflation of the Tesla bubble is an indicator of risk-off positioning.

Elon Musk buying Bitcoin as one last-ditch effort to keep the Tesla bubble inflated does not appear to have worked like it did for MicroStrategy (quick glance shows their stock down around 25% in the last day or so).

 

[Suhrreal]

After being up several hundred percent the last few years, I’ll think they’ll be ok. Their Bitcoin purchase is already way way up. There is also some sort of negative Chinese regulator news recently too that is weighing on big tech.

Tesla will be absolutely fine, you're right. It's you, your mom, your dad, etc. that will feel the pain when they end this charade.

Assuming Musk already sold the Bitcoin for a profit, Tesla will have made more profit off Bitcoin than they have selling cars.

 

[nelsonj22]

I think seeing this thread now at 8 pages, reminds me when everyone was talking about bitcoin in late 2017.. Most of us know what happened soon after.

View embedded media

yep I put 4k in it and have 10k now

 

[huskerhooligansdotcom]

Tesla will be absolutely fine, you're right. It's you, your mom, your dad, etc. that will feel the pain when they end this charade.

Assuming Musk already sold the Bitcoin for a profit, Tesla will have made more profit off Bitcoin than they have selling cars.

My mom and dad? I myself bought three Tesla shares for around $900 total in 2018. Those three shares were split into 15 shares, each worth over $800. The increase has been over 1,200%. Not life changing money, but not bad. Elon is definitely a charlatan of sorts, but.. I don't know.. I guess he is the establishment's charlatan? He's more Thomas Edison than Nicola Tesla.

If they sold the bitcoin already, it would have been a material transaction that would have to be disclosed to the SEC and investors.

 

[NYC-Husker]

Elon knows a good bubble when he sees one.

And are you still trying to tell me a database entry is gold?

As for the short squeeze stuff, you do realize they can squeeze shorts in Bitcoin as well? They trade Bitcoin futures on the CME...we'll be revisiting your post within two months, book it.

Tesla down over 5% today. Was that supposed to happen? Bad, bad sign for crypto if that continues.

Tesla will be absolutely fine, you're right. It's you, your mom, your dad, etc. that will feel the pain when they end this charade.

Assuming Musk already sold the Bitcoin for a profit, Tesla will have made more profit off Bitcoin than they have selling cars.

Dude, you're trying way too hard. We get it, you don't like bitcoin.

 

[thegwer]

i own 23 different crypt currencies and they all make money. In the long term Bitcoin, ETH and XRP may be the best bets. In the short term it looks like everything is great. My worst performing crypto went up 8% in 2 months. The average gain is 249%.

 

[GBRforLife1]

It's a bad sign for crypto because crypto is a risk-on asset as is Tesla. Any deflation of the Tesla bubble is an indicator of risk-off positioning.

Elon Musk buying Bitcoin as one last-ditch effort to keep the Tesla bubble inflated does not appear to have worked like it did for MicroStrategy (quick glance shows their stock down around 25% in the last day or so).

I think Tesla is a bubble here too. Has nothing to do with bitcoin or crypto.

Microstrategy, whose balance sheet is bitcoin heavy, is up 400% in the last 6 months...

Bitcoin is up 60% in the last 2 weeks. It just hit a new all time high today. Currently at $47,500

Egld at $162

I am not seeing the bad signs...

 

[GBRforLife1]

Dude, you're trying way too hard. We get it, you don't like bitcoin.

I appreciate his alternative view point. I think it's good to consider the other side of the trade.

 

[redwine65]

I appreciate his alternative view point. I think it's good to consider the other side of the trade.

I think if the fed was going to pour cold water on crypto, they would have done so before tesla, gray scale, mass mutual, square, paypal, mastercard, visa and multiple banks started talkin bout it...I think in a economy that's been hammered by covid, and brrr machines over heating, the fed would be wise to get their tax cut on one of the few booming markets.

plus all these exchanges I use, (coinbase and voyager) have been working with the fed, with ID, and keeping track of the exchanges going on, on their exchanges..

 

[BeautifulDayintheNeighborhood]

Can I pay for husker season tickets with doge coin?

 

[red scowl]

Lol.