Currency Wars, USD, YEN, Bitcoin and what it means to you.

lujborg · Thu Jan 04, 2018 2:10 pm

iambillyg wrote:Ideally both. Like any noob, mostly looking for insight to where I could (should) direct some funds with the hopes of gains (hopefully within the next 6-8 months).

Obviously aware that nothing is guaranteed, but it's clear that many on here are much more in the know than I am about this.

A wise man told me to buy incrementally on a regular basis. Set it and forget it. I wish I had listened. OH HOW I WISH

michaelmillichamp · Thu Jan 04, 2018 2:14 pm

Codeblue wrote:
iambillyg wrote:Tempted to test these waters, but would love some advice.
Pump. Dump. Repeat.

I mean, he's not wrong.

I think it's really safe to invest in Bitcoin, Ethereum and Litecoin via Coinbase. CB is getting a lot of flack lately, but it really is the easiest way to buy crypto online. ETH is pumping really hard and there will probably be a correction soon (in my opinion), but it's been a safe coin. LTC is another safe coin. It has gains but doesn't see crazy drops randomly. It sat around $50 for a long time, then just recently pumped due to Thanksgiving talk.

It really all depends on the technology behind all of them and if you believe in it. LTC is just a fork of BTC with next to nothing fees and it's super fast. BTC is turning into more of a store of value rather than a currency, but it seems people are okay with it. I'm not to educated on ETH, but I'm sure someone else will chime in.

At the end of the day none of us are financial advisors and everything could crash in a second, so don't spend what you're not willing to lose. And if you wanna get ballsy jump on Alt coins. Schoeffling loves 'em. I only have a few.

63schoeffling · Thu Jan 04, 2018 2:26 pm

Yeah, I'm looking for the Drew Carey/Whose Line Is It anyway meme because it is the most accurate thing out there.

To a point, none of us really know anything. I would diversify, but not too much. Find a few projects you really like and believe in... then dump a bunch of money in that you can afford to lose. Up to you if you want to take short term gains or just let it ride for a year or more. At the end of the day, there's too many tokens out there to keep up and invest in everything, but don't chase the pumps because then you can get stuck holding something that doesn't move for 6 months or actually falls and doesn't recapture that break even point for a while.

Start small, get used to actually moving money around so you don't drymount up and then just take it from there. Tons of amazing things out there being developed that if 10% of them actually pan out it will be crazy.

HenryGaleWasHere · Thu Jan 04, 2018 2:58 pm

michaelmillichamp wrote:Golem is an coin I think has amazing potential, but I haven't jumped in yet. Think I'll throw some in.

When it was at ~$0.80 I was hoping for a drop to around $0.40-0.60 to get some but of course it goes up instead.

63schoeffling · Thu Jan 04, 2018 2:59 pm

HenryGaleWasHere wrote:
michaelmillichamp wrote:Golem is an coin I think has amazing potential, but I haven't jumped in yet. Think I'll throw some in.
When it was at ~$0.80 I was hoping for a drop to around $0.40-0.60 to get some but of course it goes up instead.

I debated the same thing.... I held those .60c bags for what felt like eternity and then I wasn't taking the chance at .80c for it to drop so just said F it.

butter80 · Thu Jan 04, 2018 5:13 pm

Made a purchase on Coinbase 12/31/17 but wallet won't update till 1/9/18. Does it usually take this long?
Thanks in advance.

HenryGaleWasHere · Thu Jan 04, 2018 5:19 pm

butter80 wrote:Made a purchase on Coinbase 12/31/17 but wallet won't update till 1/9/18. Does it usually take this long?
Thanks in advance.

Bank transfer? Credit cards are instant.

butter80 · Thu Jan 04, 2018 5:21 pm

HenryGaleWasHere wrote:
butter80 wrote:Made a purchase on Coinbase 12/31/17 but wallet won't update till 1/9/18. Does it usually take this long?
Thanks in advance.
Bank transfer? Credit cards are instant.

Yes, guess that's what caused the delay.

63schoeffling · Thu Jan 04, 2018 5:41 pm

butter80 wrote:
HenryGaleWasHere wrote:
butter80 wrote:Made a purchase on Coinbase 12/31/17 but wallet won't update till 1/9/18. Does it usually take this long?
Thanks in advance.
Bank transfer? Credit cards are instant.
Yes, guess that's what caused the delay.

Yup. Lower fees with bank but takes a week to show into your account. No biggie if you aren’t trying to trade or move to exchanges to buy other tokens. CC is instant but I believe like 4% fees or so.

Cbjornson · Thu Jan 04, 2018 7:43 pm

What do you guys do about capital gains during tax season. Is there different allowances for crypto?

chevyav53 · Thu Jan 04, 2018 8:41 pm

Cbjornson wrote:What do you guys do about capital gains during tax season. Is there different allowances for crypto?

Treated similar to other currency exchanges

https://www.irs.gov/newsroom/irs-virtua ... y-guidance

toobs · Thu Jan 04, 2018 9:57 pm

Quick question... Made 2 transfers/deposits this afternoon of some ETH from coinbase to a kraken generated wallet address... One went through no problem, while the other has been processed via coinbase and gone through but I see nothing on my end in Kraken.... Anyone have that happen before

acidburn · Fri Jan 05, 2018 10:20 am

toobs wrote:Quick question... Made 2 transfers/deposits this afternoon of some ETH from coinbase to a kraken generated wallet address... One went through no problem, while the other has been processed via coinbase and gone through but I see nothing on my end in Kraken.... Anyone have that happen before

Not sure if its been fixed but ETH/BTC has been very delayed over the past 24 hours. Think they mentioned it.

63schoeffling · Fri Jan 05, 2018 10:36 am

acidburn wrote:
toobs wrote:Quick question... Made 2 transfers/deposits this afternoon of some ETH from coinbase to a kraken generated wallet address... One went through no problem, while the other has been processed via coinbase and gone through but I see nothing on my end in Kraken.... Anyone have that happen before
Not sure if its been fixed but ETH/BTC has been very delayed over the past 24 hours. Think they mentioned it.

I don't use Kraken but that seems to be the word the last 24 hours or so. Although I tried sending some ETH from GDAX to Binance yesterday and it took about 19 hours. So I guess CB/GDAX is just really slow as well. Luckily the coin I was buying dropped so I was able to get more than I thought this morning.

PaulSeal5 · Fri Jan 05, 2018 5:15 pm

63schoeffling wrote:
acidburn wrote:
toobs wrote:Quick question... Made 2 transfers/deposits this afternoon of some ETH from coinbase to a kraken generated wallet address... One went through no problem, while the other has been processed via coinbase and gone through but I see nothing on my end in Kraken.... Anyone have that happen before
Not sure if its been fixed but ETH/BTC has been very delayed over the past 24 hours. Think they mentioned it.
I don't use Kraken but that seems to be the word the last 24 hours or so. Although I tried sending some ETH from GDAX to Binance yesterday and it took about 19 hours. So I guess CB/GDAX is just really slow as well. Luckily the coin I was buying dropped so I was able to get more than I thought this morning.

19 hours is crazy!

$1000 on ETH before the weekend is done, surely?
I remember thinking buying at $400 was high