Intruders-Alert

Prodigal_Sun wrote:
In the 90's I was broke to the point of being practically homeless, but my family has done alright. My old man has owned his own business for almost 50 years. He has a roughly 20,000 sqft warehouse in the middle of downtown. In an area that's been developing rapidly and almost aggressively lately. He also has a retail store in a building that's roughly half that size across the street.

It's interesting the IRS is treating it as property. So if you hold onto it for more than a year you pay long-term capital gains tax on it. They are apparently leaning toward treating unclaimed revenue as off-shore or foreign held bank accounts. So far they have only demanded information of people who have made transactions of $20,000 or more of one type (buy,sell,etc.) in a year.

:Edit:: You didn't think I just pulled my ScreenName out of a hat did you?

You'll be lucky if the IRS doesn't get most of it with estate taxes as they change more often than congress changes it's underwear. [space] [space]

BlacktopTravelr wrote:

Prodigal_Sun wrote:
In the 90's I was broke to the point of being practically homeless, but my family has done alright. My old man has owned his own business for almost 50 years. He has a roughly 20,000 sqft warehouse in the middle of downtown. In an area that's been developing rapidly and almost aggressively lately. He also has a retail store in a building that's roughly half that size across the street.

It's interesting the IRS is treating it as property. So if you hold onto it for more than a year you pay long-term capital gains tax on it. They are apparently leaning toward treating unclaimed revenue as off-shore or foreign held bank accounts. So far they have only demanded information of people who have made transactions of $20,000 or more of one type (buy,sell,etc.) in a year.

:Edit:: You didn't think I just pulled my ScreenName out of a hat did you?

You'll be lucky if the IRS doesn't get most of it with estate taxes as they change more often than congress changes it's underwear. [space] [space]

Two things I won't mess with the IRS and the CIA FBI don't worry me, they have to follow due process. NSA is too secretive to make mistakes. The CIA is just paranoid enough to kill you by accident and cover it up. The IRS will just make you wish that they would and get it over with.

Prodigal_Sun wrote:

BlacktopTravelr wrote:
You'll be lucky if the IRS doesn't get most of it with estate taxes as they change more often than congress changes it's underwear. [space] [space]

Two things I won't mess with the IRS and the CIA FBI don't worry me, they have to follow due process. NSA is too secretive to make mistakes. The CIA is just paranoid enough to kill you by accident and cover it up. The IRS will just make you wish that they would and get it over with.

You forget the IRS is famous for promoting people that do bad things to nice honest citizens, including bankrupting them and putting them in jail. That is why congress makes the tax code so hard to understand. [space]

BlacktopTravelr wrote:All I see in the Bitcoin is an investment and a risky one at that, but on the other hand the price for the Litecoin I was going to try and buy has gone up from $92.24 to $99.53 in just the last couple of days. I'm having hell confining my ID as they want a pic which I can give them but then they want me to turn on my webcam to compare it to and I don't have a webcam. So I can't go to the page where I can buy anything.

Did you ever get your account sorted?

Prodigal_Sun... Nope. I've got an external web camera around here some place that I can use, but while I am looking for it the prices are going up.

BlacktopTravelr wrote:Prodigal_Sun... Nope. I've got an external web camera around here some place that I can use, but while I am looking for it the prices are going up.

I was able to "verify" mine with an email address and my cell phone number. I got a little over three quarters of a Litecoin for $100. I bought it on Friday, it was made available to me today. It's now worth $216.89... I could sell $100 worth back to the exact same place I got it from and recover what I spent and still have $116.89 left worth of it... I'd give you .25 of one if you can get your account up and running. It only cost me about $33. you could sell it back or hold onto it. Whatever you wanted with it. If you can't get it figured out, I'll hold mine until the value goes over $400 a full coin, then sell .75 of one back for $300 or so. That'll recover my initial investment (I bought $200 worth of bitcoin at the same time) and leave me with my $200 worth of Bitcoin and some change of Litecoin..... Free money is always best money [emoji106]

Really if you get it setup I'll share with you and shift my plan

I'm still looking for the web cam. thanks for the offer, I'll see what I can do. [emoji106]

I was just reading some news stories about Bitcoin...there's a guy in the UK that accidentally threw away a hard drive from back in the beginning of Bitcoin when they weren't worth much. The coins stored there would now be worth $70+ million. He's trying to get permission to excavate the landfill to find it. Getting a lot of opposition.

Another article said that they figure as much as $30 billion in Bitcoin may be lost forever like this...in devices that were destroyed or thrown out, or the password lost and now inaccessible.

Sounds like something to steer clear of, thanks. [emoji106]

jeffco, I'll be the first one to admit I'm not the smartest guy here, but to throw away something that you have stored electro-money on, even if it is just a few dollars, isn't the brightest thing to do. I also lose or forget my password more than normal people do, so I guess I should start writing it down. I will store my wallet on a cloud if I ever get one, wallet that is, and will definitely write that password down. [emoji106] [space]

RoadKing wrote:OK, here’s the deal. Bitcoin is China effort to destroy the US dollar. OK? Run with that and see where it takes you.

Well, RK, an update is in order. As is being pointed out, bitcoin is purportedly a way of spending undetected. Now, it has been just revealed that when the NoKo made a worldwide cyber attack a while back that their efforts were funded by bitcoin... so much for attempted anonymity. One more point, if the NoKo can use bitcoin for nefarious purposes, it’s a cinch China can. Right on, RK.

Oh my http://fortune.com/2017/05/27/bitcoin-price-drop/ bite-coin

Hard to get exited over fake money.

VRH wrote:Oh my http://fortune.com/2017/05/27/bitcoin-price-drop/ bite-coin

That article was from May 2017, where it dropped from a "record high $2,700". Even if their worst case doom and gloom prediction of "...technical analysts speaking to CNBC say the losses could go as deep as 46.5%, pushing Bitcoin down to $1,470" had come to pass it's still hovering around $14,000 now.
;IDunno:
If I turn my $300 into $3,000 it's not like I'm set for life from it or anything might fund that chopper kit though

Good luck to you! It is bound to correct again. I started seeing advertisements targeting consumers to invest in bitcoin. That is a very bad signal as it is general hyping of the market. I have seen this happen twice before. Once when oil was at its peak and once when gold was generally overpriced. In the ned, if you are in for the long haul, you may get your chopper kit after all.

VRH wrote:Good luck to you! It is bound to correct again. I started seeing advertisements targeting consumers to invest in bitcoin. That is a very bad signal as it is general hyping of the market. I have seen this happen twice before. Once when oil was at its peak and once when gold was generally overpriced. In the ned, if you are in for the long haul, you may get your chopper kit after all.

"Bit" of a mini-update if anyone is interested. I got my cash back out of the Litecoin and Ethereum I bought, so they are operating on pure profit. Unfortunately I bought the Bitcoin at the wrong time. I was going to buy at $9K but by the time I got around to it a few days later it was already at $16k. It got up close to $20k and I should have got my initial investment out at that time, but the Litecoin I was going to buy at $99 but bought at $125 was up over $250, so I thought it'd keep going up. It dropped back down around $16k for a while and it wasn't worth dumping for just a few bucks. It's been at about $8k lately, so no sense it doing anything but holding it and waiting. I might even f around and pick up another $100 worth. I did take some of it and buy 30 Ripple coins, so, will wait and see what those do.

Mostly I'm interested to see what happens when people get their tax returns. The price is right to get onboard. If enough people bite the value will skyrocket again.

Still convinced there's money to be made.

Long story short; cryptocurrencies as a whole owe me $200 and the ones I hold are worth around $175. Give or take

[emoji56]

Prodigal_Sun wrote:

VRH wrote:Good luck to you! It is bound to correct again. I started seeing advertisements targeting consumers to invest in bitcoin. That is a very bad signal as it is general hyping of the market. I have seen this happen twice before. Once when oil was at its peak and once when gold was generally overpriced. In the ned, if you are in for the long haul, you may get your chopper kit after all.

"Bit" of a mini-update if anyone is interested. I got my cash back out of the Litecoin and Ethereum I bought, so they are operating on pure profit. Unfortunately I bought the Bitcoin at the wrong time. I was going to buy at $9K but by the time I got around to it a few days later it was already at $16k. It got up close to $20k and I should have got my initial investment out at that time, but the Litecoin I was going to buy at $99 but bought at $125 was up over $250, so I thought it'd keep going up. It dropped back down around $16k for a while and it wasn't worth dumping for just a few bucks. It's been at about $8k lately, so no sense it doing anything but holding it and waiting. I might even f around and pick up another $100 worth. I did take some of it and buy 30 Ripple coins, so, will wait and see what those do.

Mostly I'm interested to see what happens when people get their tax returns. The price is right to get onboard. If enough people bite the value will skyrocket again.

Still convinced there's money to be made.

Long story short; cryptocurrencies as a whole owe me $200 and the ones I hold are worth around $175. Give or take

[emoji56]

My take on this, after reading your post, was that you got greedy and didn't sell when you should have. The price will go back up and if you are in it just to make a profit then you need to sell and not get greedy thinking you can make a few more bucks if you wait a few days.

That has been my system on buying and selling penny stocks. Of course if the stock happens to be a pump and dump them you get in early, which most are, wait for the price you bought in at to double and sell as fast as you can. Now all my trades were paper trades so I didn't make any real money, but at the same time I never had a losing trade as every stock went up at least double.

BlacktopTravelr wrote:

Prodigal_Sun wrote:

VRH wrote:Good luck to you! It is bound to correct again. I started seeing advertisements targeting consumers to invest in bitcoin. That is a very bad signal as it is general hyping of the market. I have seen this happen twice before. Once when oil was at its peak and once when gold was generally overpriced. In the ned, if you are in for the long haul, you may get your chopper kit after all.

"Bit" of a mini-update if anyone is interested. I got my cash back out of the Litecoin and Ethereum I bought, so they are operating on pure profit. Unfortunately I bought the Bitcoin at the wrong time. I was going to buy at $9K but by the time I got around to it a few days later it was already at $16k. It got up close to $20k and I should have got my initial investment out at that time, but the Litecoin I was going to buy at $99 but bought at $125 was up over $250, so I thought it'd keep going up. It dropped back down around $16k for a while and it wasn't worth dumping for just a few bucks. It's been at about $8k lately, so no sense it doing anything but holding it and waiting. I might even f around and pick up another $100 worth. I did take some of it and buy 30 Ripple coins, so, will wait and see what those do.

Mostly I'm interested to see what happens when people get their tax returns. The price is right to get onboard. If enough people bite the value will skyrocket again.

Still convinced there's money to be made.

Long story short; cryptocurrencies as a whole owe me $200 and the ones I hold are worth around $175. Give or take

[emoji56]

My take on this, after reading your post, was that you got greedy and didn't sell when you should have. The price will go back up and if you are in it just to make a profit then you need to sell and not get greedy thinking you can make a few more bucks if you wait a few days.

That has been my system on buying and selling penny stocks. Of course if the stock happens to be a pump and dump them you get in early, which most are, wait for the price you bought in at to double and sell as fast as you can. Now all my trades were paper trades so I didn't make any real money, but at the same time I never had a losing trade as every stock went up at least double.

My strategy is to get the money I spent back out of it, hold onto to some and wait/forget about it. If it doubled I'd sell half. I guess I bought way too high, but there was no way of knowing what it would do. The Litecoin was high, but it's stayed up there. I'll probably dump it as soon as I can get my money back and hold onto a tiny little bit of it

My plan has always been to make a small profit (double my money) and then get out. I'm happy with just getting double what I put in as that means I got all my money back out. Then I can pocket my money and play with my winnings. The only trouble is finding the money for that first buy. It doesn't matter if it is bitcoin or penny stocks I just can't save enough for that first buy. I have even thought that just buying $200 worth would be a start, but that is even harder to do now that I am on SS and not working. Oh well, I guess that is my lot in life, it isn't a lot but it's my life.

BlacktopTravelr wrote:My plan has always been to make a small profit (double my money) and then get out. I'm happy with just getting double what I put in as that means I got all my money back out. Then I can pocket my money and play with my winnings. The only trouble is finding the money for that first buy. It doesn't matter if it is bitcoin or penny stocks I just can't save enough for that first buy. I have even thought that just buying $200 worth would be a start, but that is even harder to do now that I am on SS and not working. Oh well, I guess that is my lot in life, it isn't a lot but it's my life.

Doubling your money is thinking too small. “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” -Albert Einstein

Prodigal_Sun wrote: Doubling your money is thinking too small. “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” -Albert Einstein

It may be thinking too small, but a lot of people have lost a fortune by thinking it'll go up just a little bit more tomorrow and then I'll sell and the next day the bottom drops out. Especially with penny stocks and bitcoins or electro-money as some want to call it.