Saylor has turned into the biggest promoter of Bitcoin. Cat rich as shit and seems like he'd sell a kidney to get his hands on some more.
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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Saylor has turned into the biggest promoter of Bitcoin. Cat rich as shit and seems like he'd sell a kidney to get his hands on some more.
CZ AMA on clubhouse was very informative.
Ive got deep, deep pockets in XDC for a long time now
.what's good..
any suggestions for a newb trying to get into the game..
I mean of course i'm reading and watching YouTube vids but...
any initial thoughts of what some potential first moves could\should be??
thnx..
Oh shit!!!! I bought hydro & xdc when they were .005
It sounds like you're are already doing it taking the time to educate yourself is the first thing you should do. The best advice I'd give anyone is make small to medium purchases weekly until you learn more about the space. Don't trust what Youtubers say about a project positive or negative. Most are bias based on the coins they are holding. I pasted a link below of someone who seems to try to just give overall neutral information about projects, but the same rule applies. Even if someone on here recommends something do your own research. For now, the safest bet long-term is Bitcoin. You may not get 10x to 20x in weeks but you don't need to worry about losing your investment compared to the rest of the space.
Also, don't get caught up in crypto philosophy.most people claim they want to change the world but in reality they are mainly in crypto to make money. Usually at the long-term expense of others indirectly like any other space. For example, they don't care about banking the unbanked. Using Cardano and the efforts with Africa most Ada holders only truly care because they believe the value of Ada will increase as a result.
And of course i cant cash out/withdraw/trade .... is Hydro fucked up on all exchanges? Only available on for international user of Bittrex(VPN doesnt solve the issue).. and wallet maintenance on Mercatox...
Yeah, I'm running into the same issue. I'm trying Coinex as we speak
There's a coin swap on some exchanges, and they're downsizing the max supply from 11bil to 111mil That's probably why.
Supposedly bittrex isn't participating in the coin swap and hodlers on there are livid.
You'll find that it depends on what you're buying... not all exchanges offer all cryptos. (Referal links enclosed) KuCoin is similar to Binance (international is the good one)which is not available to US citizens, Voyager (I like this one), and also CoinBase. I have various amounts of different items on all of these, there are others just read thru the thread. DON'T FEEL OBLIGATED to use my links, you can do a Google search to check them out too... I thought since nobody else had replied... Peace
Thanks my manz.
No Worries.... been there (kinda still there... LOL)
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Expected. Rarely, if ever will a coin have a 15000% increase without a major correction within a few hours. I just happened to catch one of those rare moments where a shitcoin I've had for years actually did something.
Good lesson for newbies as to why you don't keep your coins on exchanges. In my case, I haven't used Bittrex in years and just happened to log in to see what I had in there. During that time away, Bittrex restricted US customers the ability to deposit/withdraw/transfer $Hydro. If I had the coins on my Ledger hardware wallet, I could've transferred to another exchange without the restrictions.
Missed out on $20000.
Don't be like me.
Been in the game since page 2...so it's not the most amount of money Ive missed out on and more opportunities are guarenteed just around the corner when you're on the lookout for them. Not salty about it because Ive had more than enough wins.. But I am salty about it being Hydro and that was a great opportunity to unload a coin that hasnt done shit that I had wasted like $200 on back in the day.
Newbie lesson #2... I have the coinmarketcap app on my phone. It allows you to put in all the holdings that you have so you can see your combined portfolio with a breakdown of its daily numbers and charts. It was easy to spot a $20k increase from the previous night. I check it morning, noon and night. Thats also how Ive been able to spot the patterns with some of the coins and make small gains every time a coin drops and those "blood in the water" moments. I can compare where the coin was at and where its been stable so its easier to see if something is undervalued.
Newbie lesson #2... I have the coinmarketcap app on my phone. It allows you to put in all the holdings that you have so you can see your combined portfolio with a breakdown of its daily numbers and charts. It was easy to spot a $20k increase from the previous night. I check it morning, noon and night. Thats also how Ive been able to spot the patterns with some of the coins and make small gains every time a coin drops and those "blood in the water" moments. I can compare where the coin was at and where its been stable so its easier to see if something is undervalued.
Don't feel too bad, I don't think there was an exchange to successfully transfer our coins to. Mercatox's hydro address' were under maintenance, been that way for a couple of weeks. Coinex has an issue with there Hydro address, the contract address attached to the wallet address is out-dated. I emailed customer support, and still waiting on a reply lol. So I missed out on $13k.
Crazy story, I have the coinmarketcap app too. Hydro is in my portfolio & watchlist. I took it off my list 2 days ago because the coin is so volatile, I was getting alerts all day and night 24/7 about 8% swings up and down. A day after I take it off the list, boom 15000% jump. Would've completely missed it if you hadn't mentioned it.
These NY laws have me tight. I missed out on Cardano at .23, and Hydro which was on radar in January.
Cryptocurrency Purchases Made In USD Are Not Reportable To The IRS
Cryptocurrency purchases made in fiat currencies are not subject to any type of IRS tax reporting according to the IRS FAQs on cryptocurrency (Q5) updated as of March 2, 2021.
www.irs.gov
For example, say Sam purchased 1 bitcoin (BTC) in 2020 for $1,000 and held it throughout the year. According to the updated FAQ-Q5, Sam is not required to check “yes” on the infamous virtual currency question appearing on the front of Form 1040 - “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”. Sam can safely answer “No” on the question.
Prior to this updated guidance from the IRS, taxpayers were confused whether purchasing cryptocurrency in USD would require them to check “yes” on the virtual currency question. Given the limited IRS instructions on how to answer this question, some taxpayers checked “yes” even when they purchased cryptocurrency using USD, assuming they acquired a “financial interest” in virtual currency.
This added guidance from the IRS provides more clarity to taxpayers when answering this question going forward. Further, privacy-focused crypto users would appreciate that they don’t have to disclose their involvement with cryptocurrency to the IRS needlessly.
It should be highlighted that FAQ-Q5 only applies to cryptocurrency purchased in fiat. If you purchase a cryptocurrency using another cryptocurrency, you would have to check “yes” on the Form 1040 question. This could also trigger a taxable event for you.
www.forbes.com
Cryptocurrency purchases made in fiat currencies are not subject to any type of IRS tax reporting according to the IRS FAQs on cryptocurrency (Q5) updated as of March 2, 2021.
Frequently asked questions on virtual currency transactions | Internal Revenue Service
Frequently asked questions and answers about Virtual Currency transactions.
For example, say Sam purchased 1 bitcoin (BTC) in 2020 for $1,000 and held it throughout the year. According to the updated FAQ-Q5, Sam is not required to check “yes” on the infamous virtual currency question appearing on the front of Form 1040 - “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”. Sam can safely answer “No” on the question.
Prior to this updated guidance from the IRS, taxpayers were confused whether purchasing cryptocurrency in USD would require them to check “yes” on the virtual currency question. Given the limited IRS instructions on how to answer this question, some taxpayers checked “yes” even when they purchased cryptocurrency using USD, assuming they acquired a “financial interest” in virtual currency.
This added guidance from the IRS provides more clarity to taxpayers when answering this question going forward. Further, privacy-focused crypto users would appreciate that they don’t have to disclose their involvement with cryptocurrency to the IRS needlessly.
It should be highlighted that FAQ-Q5 only applies to cryptocurrency purchased in fiat. If you purchase a cryptocurrency using another cryptocurrency, you would have to check “yes” on the Form 1040 question. This could also trigger a taxable event for you.
Cryptocurrency Purchases Made In USD Are Not Reportable To The IRS
Bitcoins purchased in USD are not reportable to the IRS.
www.forbes.com
Can someone please break down DEFI, and how to get in and why is it hotter than BTC???
You’re gonna have to do your research on YouTube. Go back 10 or 15 pages and you will see some Youtubers to follow.
Kucoin and Uniswap are two places that offer a lot of defi coins. Kucoin's app even has a defi filter to only show you the defi tokens on the exchange. Uniswap requires gas (ethereum) and those gas fees are high.
@DVS X
Man Hydro fucked us. We didn't miss any big money.
My 100,000 tokens would've been reduced to 1,000 (@.12 cents when it spiked would've equaled $120)
How the token swap is gonna take place?
The process for Hydro redeployment will begin on Feb 28th at 8pm UTC and then the redistribution of the new token will happen in phases.
Man Hydro fucked us. We didn't miss any big money.
My 100,000 tokens would've been reduced to 1,000 (@.12 cents when it spiked would've equaled $120)
How the token swap is gonna take place?
The process for Hydro redeployment will begin on Feb 28th at 8pm UTC and then the redistribution of the new token will happen in phases.
- Phase 1 (Feb 28th): In this phase, all holders who hold their tokens on their personal wallet will receive their new hydro tokens as BEP20 on the Binance Smart Chain (BSC) wallet.
- Phase 2 (Mar 1st): In this phase, CoinEx will be doing the distribution to their user base.
- Phase 3 (Undefined): In this phase, rest of the tokens will be distributed upon reply from the respective exchange in the form of the new ERC20 Token.
The guy in the vid was claiming he woke up to 20K worth of hydro Friday morning.
Guess he woke up from his dream when they corrected the price.
Thanks Brothers!