Bitcoin Talk

Chappi · Jan 5, 2018

Morphote said:
You just hold on to your special paper. Ps...your bank loves you.

M.

I don’t know what you mean with that, I preffer you give it to me straight without beating around the bush. You sound like one of those people who drank the cool aid and are convinced Bitcoin is going to the moon and anything said to the contrary is just impossible.

With that said and sorry of I misunderstood you but I am definitely in the crypro market, took some money from my equity investments to trade cryptocurrencies. If you don’t realize what is moving the crypto market then you’re probably lost. This market is dominated by FOMO and that’s what’s driving it. Plenty of alt coins getting crazy valuations based on absolutely nothing but hype. Doesn’t mean you can’t speculate, I do, but I’m well aware of what this is-99% fucking gambling/speculation.

englishrick · Jan 5, 2018

lol...GMT is in profit....oooooohhhhyweeehh

it's true...

put 100 in and watch it run round like Mario Kart. try to miss the bananas an catch the boosts...thats all I do...then you take out your initial investment money and run the whole shit on cream

englishrick · Jan 5, 2018

EasyGoing said:
I am working with a coin company right now for the cannabis community. It's already in the top 150.

bro..lets do something..our little pool needs a tech dude desperate... we are a vat reg business in the UK.. business bank accounts etc.. burox de change set up.. premises ..liquidity....

englishrick · Jan 5, 2018

burox..lol

englishrick · Jan 5, 2018

Chappi said:
I don’t know what you mean with that, I preffer you give it to me straight without beating around the bush. You sound like one of those people who drank the cool aid and are convinced Bitcoin is going to the moon and anything said to the contrary is just impossible.

With that said and sorry of I misunderstood you but I am definitely in the crypro market, took some money from my equity investments to trade cryptocurrencies. If you don’t realize what is moving the crypto market then you’re probably lost. This market is dominated by FOMO and that’s what’s driving it. Plenty of alt coins getting crazy valuations based on absolutely nothing but hype. Doesn’t mean you can’t speculate, I do, but I’m well aware of what this is-99% fucking gambling/speculation.

I think tron is overvalued ...its an ecr20 token and they are on billions in supply..i think it's all fomo on trx

englishrick · Jan 5, 2018

I'm looking into lending with Ethlend...just working out the logistics over the last couple of weeks..

I really love the function of some coins..

if bitcoin gives you the ability to be your own bank. then ethlend gives you the ability to be your own lending institutions

fuel gives you the ability to write your own smart contracts.......

this is incredible stuff..

Morphote · Jan 5, 2018

Chappi said:
I don’t know what you mean with that, I preffer you give it to me straight without beating around the bush. You sound like one of those people who drank the cool aid and are convinced Bitcoin is going to the moon and anything said to the contrary is just impossible.

With that said and sorry of I misunderstood you but I am definitely in the crypro market, took some money from my equity investments to trade cryptocurrencies. If you don’t realize what is moving the crypto market then you’re probably lost. This market is dominated by FOMO and that’s what’s driving it. Plenty of alt coins getting crazy valuations based on absolutely nothing but hype. Doesn’t mean you can’t speculate, I do, but I’m well aware of what this is-99% fucking gambling/speculation.

You play the stock market? Where were you when Microsoft was $1.63 a share? How about Berkshire Hathaway? Last time I checked their B shares were selling for a few thousand each. What about derivatives? Can you tell me the difference between futures on any other commodity versus Bitcoin? It's all speculation.

M.

EasyGoing · Jan 5, 2018

So who made more in 4 days than farming all last year on Tron?

EasyGoing · Jan 5, 2018

also, to any people that doubt bitcoin or alt coins. Answer me this, when was the last company worth over a billion dollars went bankrupt? It happens, but not often. Maybe 2 or 3 in USA history. Well, bitcoin and alcoins are now worth 750 billion dollars. This market isn't going anywhere, especially in 2018. Lots of coins will be worth zero, and maybe even one from the top 20 list right now. However, 19 of the top twenty and hundreds of others will have higher values at the end of 2018, IMO.

Also, to the people that think Bitcoin or Altcoins have no value........ Have you tried to deal with a bank lately? I deposited 20k into the bank on Dec 27th. Didn't clear my account until Jan 2rd. Tried to call to see what was taking so long for the money to clear, and it took 1.5 hours and a call back to get my situation handled......... Then I took that 20k and put it in tron............... Transferred in seconds from coinbase to Binance, then from Ether to Tron. If you are still trying to look for the value.......... If I had that money from the bank just one day quicker, I would have 150k more dollars in my pocket............... You do the math, banks are sooooooooooo done.

EasyGoing · Jan 5, 2018

englishrick said:
bro..lets do something..our little pool needs a tech dude desperate... we are a vat reg business in the UK.. business bank accounts etc.. burox de change set up.. premises ..liquidity....

I am working with some industry giants. I am trying to choose a coin that is a privacy coin, yet will survive the long run. Any ideas? I have a couple and working on it. :tiphat:

Douglas.Curtis · Jan 5, 2018

EasyGoing said:
I am working with some industry giants. I am trying to choose a coin that is a privacy coin, yet will survive the long run. Any ideas? I have a couple and working on it.

Monero, Zcash, Bitshares does private transfers for a fee.

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EasyGoing · Jan 5, 2018

I really like Monero personally, but that will require a flight to Singapore....... Not looking forward to it.

DETStrainKey · Jan 5, 2018

I have been looking at Ripple (XRP) looks like there moving a little now.... These trading sites look shitty i use binance but its now the best what trading sites do you guys use??

Binance you have to use BTC to buy other ALT coin..
I found one person trading little above market price on crigslist.

EasyGoing · Jan 5, 2018

You can trade ether on Binance as well.........

I really like Binance. It's the best as far as I see it. I usually trade off Gdax instead of Coinbase also.

Ripple is just the banks driving the cost of bitcoin, ether and litecoin down. Soon the banks will swoop all the top coins and dump Ripple. Mark my words. The people saying bitcoin is worth shit, are the people who are trying to buy it all up, IMO.

EasyGoing · Jan 5, 2018

BTW people, to the non believers......... Who is the richest man in the world again? O yea, the co founder of Ripple........ LOL. Keep listening to the banks as they become the richest people on the face of the planet.

Douglas.Curtis · Jan 5, 2018

Bitshares is where I do most of my trading. It has trading pairs with Bit.USD, BTS, Open.BTC, Bit.BTC and Bit.CNY (tracks the real value of one Chinese Yuan) Bitshares is still small, so a lot of the lower priced coins are not on it yet. It's also one of the safest options I've found. I lost a lot of coins on centralized exchanges, not a big fan of them anymore. Centralized exchanges have large attack points, decentralized don't. You also have to trust the people running a centralized exchange, since they have access to the back end. Trustless exchanges offload those actions to the system itself, without human access.

Use the centralized exchanges, sure. Be sure to also offload your assets to private wallets, when long term storage is your goal.

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GMT · Jan 5, 2018

The voice of caution steps in again.

Yes we all agree that we are gambling here rather than investing, sadly the UK tax office does not agree. If you are making frequent trades, then they class you as a trader, meaning class 2 and 4 ni payments each week and profits are classed as personal income . That means they are taxed at your higher income tax rate.
If you only make occasional trades, they consider it as capital gains income. We get £11k tax free after that it's 20% tax.

Anyone who knows me, knows that I like to find the loop hole in tax issues. Here it is:
Foreign currency held in foreign bank accounts, is tax free for any income it generates. Holding your investments in hard wallets opens you up to tax liabilities, however if you use a third parties ie. Hold your coins in exchange accounts, where the exchange is not located in the UK, then it should become tax free.
Yes it's riskier, it's just the current loophole.

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg78321

Chappi · Jan 7, 2018

Morphote said:
You play the stock market? Where were you when Microsoft was $1.63 a share? How about Berkshire Hathaway? Last time I checked their B shares were selling for a few thousand each. What about derivatives? Can you tell me the difference between futures on any other commodity versus Bitcoin? It's all speculation.

M.

What’s your point? Futures by definition are speculative. Any position on any given stock is speculative, no one can predict the future.

On 10/31/1991 MSFT WAS 1.64 a share and I was 7 years old. Not investing in stocks yet.....

Futures are based on the intrinsic value of an underlying asset at a set exersice price and the right to take a long or short position on that underlying at a given price as pre set by the exchange.

I can tell you what the intrinsic value of gold or silver, oil, or any given company on any major exchange is, can you tell me what the intrinsic value of bitcoin is? Doubt it, Bitcoin’s biggest hurdle is adoption. The majority of transactions are from exchange to exchange from people who are trading the currency and not from adoption.

Morphote · Jan 7, 2018

The intrinsic value of anything is subjective, as evidenced by the moves Bitcoin keeps making. Clearly it has exceptional intrinsic value---and this is the important part---WHETHER YOU SEE IT OR NOT. If I buy bitcoin at $1300 each and they're now worth over $16000 each what is the intrinsic value to me? If you were me would you listen to someone like you? These are real questions. Bitcoin is backed by real currency and real people around the world who are tired of dealing with the banking system. That is why the intrinsic value will continue to increase regardless of any skeptical evaluations you may offer. Let's see if your precious gold or silver can keep pace. I assume you are heavily invested in those areas, and for the sake of time I won't bother comparing growth investments to value. We will just pretend they are the same. At $1.63 a share what indications did we have that MSFT was going to be a juggernaut? Hint: always check the cash reserves.

M.

EasyGoing · Jan 7, 2018

I got Bitcoin much, much cheaper than that..........

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