when you get a chance dont forget about me! i was in the group and forgot to update sig :( god speed!
Cryptocurrency |OT2| Money's New ERA Shoots for the Moon! | Read OP for Thread Rules
- Thread starter breakYODAy
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I'm not a professional trader. I self-taught myself after getting into crypto. I did lots of reading, studying Bitcoin and Ethereum charts both live and historical, building various models then testing and either refining or scrapping them, then starting to make and write down my calls in real-time and see what I got right and wrong and refining some more. I also look at calls from other market watchers who I respect, to determine how confident I should feel about what I'm thinking. If a number of those people think that more or less the same thing is going to happen as I do, especially if they think that for different reasons, then I'm a lot more confident. It's easier to get daily movements right, than predictions weeks or months in advance.
One of the best pieces of advice I came across was to not be married to an older prediction if the market signals shift. Predictions get invalidated all the time. You roll with it, refine, and move on.
Another good one is to not be too greedy. If you see everyone saying the price is going to go to X, it will often fall short of that target. It doesn't mean they were wrong. My bias is always to hold ETH unless I think it's in real danger of a significant fall. If I manage to sell before the fall, I have learned not to try to maximize the buy back point, especially if the fall is violent. So I tend to buy back in a little early. I have never once regretted doing that so far.
With the ledger you can only store 4-5 coins. You need to delete/reinstall to juggle more.
The enjin wallet seems more seamless to me.
It doesn't have my waifu Vechain either, but coins will be added in the future. It seems most of the coins based on ether are there.
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Yes i agree it's handy to maybe store some coins with lesser value, but I'd still recommend you to keep your high value coins on the ledger.
Yup. Also, it's unrealistic to expect things to jump up all the time. If you look at past graphs, there have been long stretches (months) where it's either slowly going up or going sideways.
Thanks!
Never heard of kraken. I'll look into them. If I get verified on quad, is there any reason to use kraken? Is there any benefit to them? Thanks for the help. I checked out binance and instantly got overwhelmed. Coinbase was super simple. Binance looks overwhelming. Really want to learn though.
Thanks!!
What do you mean be careful with day trading? How would the government know what I do with my bitcoins? All they should see is the cash out, right?
In my mind, and tell me if I'm wrong, it works like this. I transfer some bitcoin from coinbase to binance. Use bitcoin to buy some other coins, sell coins for bitcoin, etc etc. Then I take the bitcoin that I earned or whats left, and transfer it to quadriga. How would the cra know what I was doing in that time?
Can I do something like that? Does that work?
I will copy paste what's been written on the personal finance Canada sub reddit regarding taxes on crypto currency gains.
Generally, buy and hold would be considered capital - similar to investors who buy and hold stock and report capital gains. It could also be considered business income where the activity is considered to be similar running a business. High volume traders, those who hold a particular crypto for only a very small period of time, etc. might need to consider if their activities appear to constitute a business. Again, see IT-479R for information about whether it is income or capital in nature. I have cut out the most relevant paragraph below:
Specifically, this paragraph:
- Some of the factors to be considered in ascertaining whether the taxpayer's course of conduct indicates the carrying on of a business are as follows:
(b) period of ownership - securities are usually owned only for a short period of time,
(c) knowledge of securities markets - the taxpayer has some knowledge of or experience in the securities markets,
(d) security transactions form a part of a taxpayer's ordinary business,
(e) time spent - a substantial part of the taxpayer's time is spent studying the securities markets and investigating potential purchases,
(f) financing - security purchases are financed primarily on margin or by some other form of debt,
(g) advertising - the taxpayer has advertised or otherwise made it known that he is willing to purchase securities, and
(h) in the case of shares, their nature - normally speculative in nature or of a non-dividend type.
Generally speaking a "buy and hold" crypto investor will be reporting capital gains. Generally speaking a high volume trader who moves between cryptos and cash frequently, and spends a lot of their time doing this and researching this MAY need to consider reporting their gains as business income.
If you buy 0.5 BTC and cash out 5 BTC you're fucked in an audit.
Yup. Very much this.
Now I also have a question for anyone who knows. What if you had 1.0 BTC and were "gifted" 2.0 BTC? Would you be taxed on the "gifted" BTC?
Gift taxes exist as well, at least in the USA. 2 BTC (at least in today's worth) would already set you above the 14k exemption.
So what you're saying is: "receive two gifts of BTC from two separate people?"
:)
Im currently buying ETH from coinbase for the lower transfer fee then transfering to cryptopia, where i then need to trade for btc before i can then trade again for othe currencies as there ar no direct trading pairs for ETH there. Is this the best way to go about this or should i be looking at transfer from coinbase to a difgerent exchange?
I grabbed some XBY on C-CEX back on the old site crypto thread when people were talking about it. Anyways, I only ever used CCex to buy that coin, but now id like to move it out of that exchange, but for the life of me, I cant find any withdrawal options on their site. I see some weird code thing, but nothing like a withdrawal. Anyone use CCEX and buy this coin? I know that exchange says they are on limited holiday service till Jan 20th(whatever that means), but not sure if that is related. Also last I checked C-Cex XBY price was something like 15-20% lower than other sites, so Im not too keen to transfer it to BTC on CCEX to get my funds out. Anyone have any knowledge on this?
Can some one give me a step by step guide on the easiest/lowest fee way to buy XRP? Lot of guides make it seem so complicated with a lot of jumping through hoops to get it (IE buy LTH from x, exchange on y, deposit z) which seems like with all the fees that you'd be throwing money away.
C-CEX is in limited service until the 20th, which is why the price is lower.
Anyone else getting in on Garlicoin when it launches? You know, that garlic bread-themed cryptocurrency that started on Reddit? I'll be there day one for some garlicy goodness.
yeah saw the limited service, would it really effect the price that much? was the price more consistent with other exchanges when it wasnt in limited service? Also is there no option to withdrawl this coin directly from CCEX? was hoping to keep it for over a year to get long term tax gain bracket. But I dont want to keep it on the exchange.
The reason it is complicated is (assuming you are in the US):
1) The only mainstream place to turn real US dollars into crypto currency is Coinbase and Kraken in the United States.
2) Kraken is currently down, and Coinbase doesn't support Ripple.
The reason people tell you to use LTC or ETH is that Bitcoin is really slow to transfer right now.
Step one in any plan you have is go to Coinbase and buy *something* -- BTC, ETH, LTC, whatever. Start there. You can use a credit card or transfer from a bank account. The fees are not going to be as significant as the time that yo happen to buy the Ripple, as the price goes up and down every day.
As an aside, I would recommend splitting what you put in between Ripple and some other stuff, unless you are fully aware that you want to go all in on Ripple.
Looks like it. Pretty excited to see where it goes this year. Debating whether I should try to get more while it's cheap and increasing my overall buy-in average, or just chilling with my nice stack as is.
Just done a bit of pentesting of the Enjin Wallet Android application and it seems to be pretty safe.
The code is obfuscated but I have seen that they implement correctly the SSL certificate, they have a root detection system (although is open source: scottyab/rootbeer), they don't have snapshot saving which avoids that the app information is displayed when it is in the background, etc.
Haven't checked a lot but I'm more confident about it now, I can use it safely.
The code is obfuscated but I have seen that they implement correctly the SSL certificate, they have a root detection system (although is open source: scottyab/rootbeer), they don't have snapshot saving which avoids that the app information is displayed when it is in the background, etc.
Haven't checked a lot but I'm more confident about it now, I can use it safely.
I'll never touch TRX again.
I can't make up my mind on ENJ. Looks promising, I suppose.
Yeah, I got some for cheap last night during the fire sale. About to sell it once it rises some more though. Should I hold?
That seems like...a lot. Why the heck are people going through so much effort to keep it down?
I dunno, the daily volume is down to 36 BTC over the last 24 hours, [strike]and you have to go through 13 BTC of volume just to get from 259 satoshis to 270 satoshis.[/strike] AND I'M LOOKING AT THE WRONG COLUMN
Double edit: no strikethrough text?
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Yeah seems odd to me, there's probably some reason though..
Welp, who has 4 BTC sitting around and wants to take one for the team? Lol. I am hoping when these walls go away ADC will fly.
Has anyone ever had an issue where they have sent coins from one exchange to another and it's a different value received ( i.e. coins have went missing )
I send 1.5 LTC via Coinsquare and the amount received at Cryptopia was 0.6 LTC .... : ( not even sure if there's any point in contacting either of them.
I send 1.5 LTC via Coinsquare and the amount received at Cryptopia was 0.6 LTC .... : ( not even sure if there's any point in contacting either of them.