Cryptocurrency

[GutterBoy 2,281]

Just now, Cdub100 said:

That's correct.

Look man I don't make the rules. The SEC does. 

But the SEC doesn't regulate bitcoin.  They called it a payment mechanism and store of value.  What's the difference between a payment mechanism and a currency?  Or store of value and currency?  Isnt a USD both a payment mechanism and a store of value?

[GutterBoy 2,281]

Thanks for the video, reinforces my belief that everyone is just making up sh!t as we go along.

[Cdub100 3,381]

Just now, GutterBoy said:

But the SEC doesn't regulate bitcoin.  They called it a payment mechanism and store of value.  What's the difference between a payment mechanism and a currency?  Or store of value and currency?  Isnt a USD both a payment mechanism and a store of value?

The SEC absolutely provides regulation for Bitcoin and other cryptos. Whether the should or not is up for debate. Without getting into the differences between payment mechanism and currency I'll just say Gold is a payment mechanism and the US dollar is a currency & Payment mechanism. 

Bitcoin is digital gold and IMO should be regulated as such. If that's the case then it should be handed over to the CFTC, but you're right about making it up as we go along. I think governments are still trying to figure everything out.

 

[Cdub100 3,381]

Last chance to get on the train before we leave the station for the moon.

[vuduchile 1,941]

32 minutes ago, Cdub100 said:

Last chance to get on the train before we leave the station for the moon.

I just made a modest investment.  Hard to believe I'm back in this again.  Go BTC!

[Cdub100 3,381]

 

 

[Cdub100 3,381]

On 12/17/2020 at 11:53 AM, Cdub100 said:

Ethereum - ETH, is my favorite. I own a lot and am currently mining it. I planned on staking for eth 2.0 and or hosting a node as well but holding off right now. The thing about ETH is it's so much more than a store of value. It also is the mother coin of a bunch of other ALT coins built on the eth protocol.

Bitcoin is my second-largest holding. No need to talk about this.

VeChain - VET, is a very interesting coin and unique in the problem it's trying to solve. I'm hopeful they continue to expand, grow and bring in more partners. The problem with this coin is there's like 88 billion of them. With that many coins it'll never moon the way I want it. If VET ever gets to a $1 I could retire. 

Polkadot - DOT, is a lot like ethereum. It was started by one of the ethereum co-founders. If ETH 2.0 doesn't work I can see people moving to dot. And even if ETH works there will be room for DOT. Now would be a good time to get into DOT. I expect DOT to be $20-$50 next year.

THETA - is super interesting. They are a video hosting network. I don't own any right now but plan on buying and hosting a node in the next month or two. It's also not available on major exchanges in the US yet. If you can get into a coin before then you can triple your earnings pretty

I own a bunch of others ADA, ERD, CLER, XRP, LINK. Different people will swear by each of these coins. I like what they do and their potential so I have them to diversify my portfolio.

I also plan to buy any coin paypal plans on hosting. Hopefully, before they make it available. We saw a nice bump when paypal started offering Crypto.

What I recommended in Dec and what the price is of today

$644 - ETH - $1870

$20k - BTC - $60k

$0.017 - VET - $0.06

$5.38 - DOT - $37

$0.82 - Theta - $7.4

$0.16 - ADA - 1.05

[bandrus1 413]

1 minute ago, Cdub100 said:

What I recommended in Dec and what the price is of today

$644 - ETH - $1870

$20k - BTC - $60k

$0.017 - VET - $0.06

$5.38 - DOT - $37

$0.82 - Theta - $7.4

$0.16 - ADA - 1.05

Life changing stuff there

[edjr 5,567]

 

10 hours ago, Cdub100 said:

What I recommended in Dec and what the price is of today

$644 - ETH - $1870

$20k - BTC - $60k

$0.017 - VET - $0.06

$5.38 - DOT - $37

$0.82 - Theta - $7.4

$0.16 - ADA - 1.05

 

May want to look again.  Was a long night

[Cdub100 3,381]

31 minutes ago, edjr said:

 

 

May want to look again.  Was a long night

Just looked still up by a sh1t ton

[Frozenbeernuts 1,652]

I ended up bailing on crypto at the wrong time. I still had 3k invested in crypto. My total crypto account went from 4k on Jan 4th to 10.3k as of yesterday

[Cdub100 3,381]

On 12/21/2020 at 11:09 AM, Cdub100 said:

Just bought Theta as mentioned above. 

Theta.tv for all your streaming pleasure.

 

[Cdub100 3,381]

Just minted a NFT using my daughter's sidewalk art. 

[Frozenbeernuts 1,652]

Just now, Cdub100 said:

Just minted a NFT using my daughter's sidewalk art. 

Let me know how it goes

[Cdub100 3,381]

2 minutes ago, Frozenbeernuts said:

Let me know how it goes

I'm going to be rich!!!

[Frozenbeernuts 1,652]

12 hours ago, Cdub100 said:

I'm going to be rich!!!

Did you sell it already?

[Cdub100 3,381]

10 hours ago, Frozenbeernuts said:

Did you sell it already?

No waiting for you to bid.

[Frozenbeernuts 1,652]

30 minutes ago, Cdub100 said:

No waiting for you to bid.

Seeing as I don't have 74 mil to bid, I know I will be outbid anyway.

[Cdub100 3,381]

Just now, Frozenbeernuts said:

Seeing as I don't have 74 mil to bid, I know I will be outbid anyway.

I'll give you a 25% discount. Being a geek and all.

[Frozenbeernuts 1,652]

Just now, Cdub100 said:

I'll give you a 25% discount. Being a geek and all.

you are literally the best

[vuduchile 1,941]

Topps is going public, looking to enter the NFT market.  They already have digital collectibles with Topps Bunt.  Not sure what the long term plan is, but they're raising money for something big.  My original thought with Eisner at the helm was how he took Disney to the moon in large part by tying entertainment and merchandise together and opening Disney stores is every mall across the world.  

But malls are in free fall, so he must be looking at something else.  MLB is not great about marketing their product to kids.  Maybe they'll lean on Eisner and Topps to work on that via their licensing agreement.  

Either way, this is yet another huge story for the card biz, NFT's and blockchain.

https://www.cnbc.com/2021/04/06/baseball-card-company-topps-to-go-public-through-spac-deal.html

[Frozenbeernuts 1,652]

Is there anyone here who is debating buying bitcoin but hasn't yet?

[vuduchile 1,941]

Coinbase made more money in the first quarter of 2021 than it made in all of 2020. 

[Cdub100 3,381]

1 hour ago, Frozenbeernuts said:

Is there anyone here who is debating buying bitcoin but hasn't yet?

The only question I have is did I buy enough?

[Frozenbeernuts 1,652]

7 hours ago, Cdub100 said:

The only question I have is did I buy enough?

There is no buying enough. $59k/ coin is nothing. NBA players in Sacramento can be paid in bitcoin. We are still early in adoption

[Alias Detective 1,179]

1 hour ago, Frozenbeernuts said:

There is no buying enough. $59k/ coin is nothing. NBA players in Sacramento can be paid in bitcoin. We are still early in adoption

Still trying to figure why any player would want to do this?  Why not take you cash paycheck and then buy as much bitcoin as you wish?

[Alias Detective 1,179]

Just now, bandrus1 said:

Is it taxed differently?

Sure is.

[Mrs. Voltaire 46]

6 minutes ago, Alias Detective said:

Still trying to figure why any player would want to do this?  Why not take you cash paycheck and then buy as much bitcoin as you wish?

Gimmick, just like this whole thing.

[Mrs. Voltaire 46]

2 minutes ago, Alias Detective said:

Sure is.

Wrong. Earned income in the form of bitcoin is still taxable as a wage tax, just like dollars.

[Alias Detective 1,179]

1 minute ago, Mrs. Voltaire said:

Wrong. Earned income in the form of bitcoin is still taxable as a wage tax, just like dollars.

And capital gains taxes potentially the minute you need to spend it. Which at their tax bracket maybe better than paying income tax.

[Mrs. Voltaire 46]

1 minute ago, Alias Detective said:

And capital gains taxes potentially the minute you need to spend it. Which at their tax bracket maybe better than paying income tax.

They pay both.  Income tax when they receive it, and then capital gains if it goes up when they spend it.  So it's better to receive USD, but it's not as cool.

[Cdub100 3,381]

1 hour ago, Mrs. Voltaire said:

They pay both.  Income tax when they receive it, and then capital gains if it goes up when they spend it.  So it's better to receive USD, but it's not as cool.

The key is not to sell it. Rather take loan against it when you need money.

[Mrs. Voltaire 46]

5 minutes ago, Cdub100 said:

The key is not to sell it. Rather take loan against it when you need money.

Well that's just stupid, well maybe not stupid, but risky as hell.  You face the prospect of losing the value of the bitcoin and not being able to make loan payments.

Same as buying stock on margin, or worse taking out a heloc to invest into a volatile asset.

[Cdub100 3,381]

10 minutes ago, Mrs. Voltaire said:

Well that's just stupid, well maybe not stupid, but risky as hell.  You face the prospect of losing the value of the bitcoin and not being able to make loan payments.

Same as buying stock on margin, or worse taking out a heloc to invest into a volatile asset.

The idea is you don't leverage yourself too much. Say only 25% and as the asset accrues in value you are better off. Supposedly it's a great way to capitalize gains in your assets without actually losing your assets. You don't pay taxes and you still hold the asset and the rates you can get are very low.

For example, rather than sell I plan on taking a loan against my bitcoin to build a pool. The l2V is 25% and the interest rate is 1%

[Mrs. Voltaire 46]

4 minutes ago, Cdub100 said:

For example, rather than sell I plan on taking a loan against my bitcoin to build a pool. The l2V is 25% and the interest rate is 1%

Yikes, it's extremely risky.  If the value of the bitcoin goes down and you can't afford to pay back the loan, you're in trouble.

Of course this is not a concern as long as you believe that bitcoin is going to $500K.

[Cdub100 3,381]

6 minutes ago, Mrs. Voltaire said:

Yikes, it's extremely risky.  If the value of the bitcoin goes down and you can't afford to pay back the loan, you're in trouble.

Of course this is not a concern as long as you believe that bitcoin is going to $500K.

I do believe bitcoin will be 150k by the end of this year. As I said I have a very low L2V so the chance of getting liquidated is very small. 

[Frozenbeernuts 1,652]

47 minutes ago, Mrs. Voltaire said:

Yikes, it's extremely risky.  If the value of the bitcoin goes down and you can't afford to pay back the loan, you're in trouble.

Of course this is not a concern as long as you believe that bitcoin is going to $500K.

Bitcoin will be worth over $1m / coin eventually. You obviously haven't read anything legitimate on bitcoin. In the future when bitcoin is considered one of the more stable and important currencies, people will ask themselves, Why didn't I at least just put $1k into it?

[Mrs. Voltaire 46]

8 minutes ago, Frozenbeernuts said:

Bitcoin will be worth over $1m / coin eventually. You obviously haven't read anything legitimate on bitcoin. In the future when bitcoin is considered one of the more stable and important currencies, people will ask themselves, Why didn't I at least just put $1k into it?

So you have everything you own invested in bitcoin?  You are margined to the max to buy bitcoin?

[Frozenbeernuts 1,652]

27 minutes ago, Mrs. Voltaire said:

So you have everything you own invested in bitcoin?  You are margined to the max to buy bitcoin?

I do not. I dont know when it will reach 1m, but it will eventually. I think it doubles at least this year before a dip back down, although that's not a given if the cycle is different this time.

[Mrs. Voltaire 46]

11 minutes ago, Frozenbeernuts said:

I do not. I dont know when it will reach 1m, but it will eventually. I think it doubles at least this year before a dip back down, although that's not a given if the cycle is different this time.

If you know it will reach a million, then you have to put everything you have into bitcoin, unless you're either a poosay or retarded.  So which is it, you're retarded, you're a poosay, or you're full of sh!t?