I was just talking about people panicking because of the price drop. I pointed out that a month ago, BTC was under $10K, it reached $19K, retracted/corrected/crashed to $14K, and people are thinking its the end of days. Lol. We've gained $4K+ in a MONTH! It's amazing how people are reacting. I'm a hodler. And I think (well hope) that it will pay off. I have a strong inclination that it will, as despite this current situation, institutional money is still coming in.... ETFs planned for the future.
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Anyone Invested in crypto?
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I was just talking about people panicking because of the price drop. I pointed out that a month ago, BTC was under $10K, it reached $19K, retracted/corrected/crashed to $14K, and people are thinking its the end of days. Lol. We've gained $4K+ in a MONTH! It's amazing how people are reacting. I'm a hodler. And I think (well hope) that it will pay off. I have a strong inclination that it will, as despite this current situation, institutional money is still coming in.... ETFs planned for the future.
hoosierdoc
Freed prisoner
I want to use my Roth 401k funds. Is that possible?
So you don't pull anything out on them huge spikes? Seems like that leaves a lot of $$ on the table.
On another note.......How does a coin go bankrupt or can they go bankrupt? In other words, what will make them start to not exist and is there coins right now that have already gone bankrupt and disappeared?
hoosierdoc
Freed prisoner
sure I do. If I put $5k in and get $500k I get destroyed in taxes. If I put $5k of post-tax in and get $500,000 I'm GTG
I hope you are either kidding or I am misunderstanding you. Do you mean you would like to be able to use Roth money to buy coins? Or are you saying you want to pull your money out of Roth and put in coins? I would love to do the first myself, the only downside is we can't get it out until we are 60 years old.
Definitely playing far more fast-and-loose with this stuff than I am. Don't think messing with current savings is a safe route to take... no idea what your age range is, but it could be devastating to your retirement.
hoosierdoc
Freed prisoner
If I'm going to invest in something that expects to yield high returns, I want to do that with post-tax dollars so all the gains are tax free. I would not put a significant percentage of retirement in crypto, but if you're going to do it, why not do it tax free? 
I'm down 10% in last few hours. Just like that, Christmas is ruined
I'm down 10% in last few hours. Just like that, Christmas is ruined
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hoosierdoc
Freed prisoner
Yes! The best of all possible worlds: losses in a tax shelter. Bravo!
Film at 11:00
Uhm... anything I'm investing now is already post tax, but I still have to pay capital gains on it
Thanks for the advice though
Trending towards a Christmas massacre. Down 20 percent in the last six hours. We need a new shooter! Setting up next buy opportunity
hoosierdoc
Freed prisoner
Mods, can you move his post to this thread? He must've fat fingered the mouse click
https://www.indianagunowners.com/fo...ny-topics-issues-do-you-not-have-opinion.html
https://www.indianagunowners.com/fo...ny-topics-issues-do-you-not-have-opinion.html
Uhm... anything I'm investing now is already post tax, but I still have to pay capital gains on it
Thanks for the advice though
Trending towards a Christmas massacre. Down 20 percent in the last six hours. We need a new shooter! Setting up next buy opportunity
View attachment 62153
Well, here is the opinion behind the missed metaphor:
Rarely do investments rise to 100 to 1 in a short time. I'm am aware of some that occurred during bubbles. And it isn't unknown for stock awards or options from a company in which one works to rise quite remarkably based on market forces.
On the other hand, market values based on limited trading volumes don't generally speak to the underlying fair value of a security over the long term or in an orderly liquidation.
There is a wild amount of speculation in cypto currencies at the moment. It is pretty obvious that there is a high degree of risk. So, the casual investor is lured in by tremendous profit potential in an unregulated market....could there be any doubt that some might be speared by that which he seeks to conquer?
As to tax losses in a shelter....qualified gains in a Roth are not subject to taxation. But, losing Roth IRA to speculation? After tax ordinary income loss on the initial investment and no qualified gain. The worst of possible worlds for a Roth.
Quite clearly, caution will not be watchword employed by part-time investors here. And, much like the long-shot who comes in first at a fixed horse race, it is possible for the small bettor to make a killing if he luckily bets alongside the race fixers.
Rarely do investments rise to 100 to 1 in a short time. I'm am aware of some that occurred during bubbles. And it isn't unknown for stock awards or options from a company in which one works to rise quite remarkably based on market forces.
On the other hand, market values based on limited trading volumes don't generally speak to the underlying fair value of a security over the long term or in an orderly liquidation.
There is a wild amount of speculation in cypto currencies at the moment. It is pretty obvious that there is a high degree of risk. So, the casual investor is lured in by tremendous profit potential in an unregulated market....could there be any doubt that some might be speared by that which he seeks to conquer?
As to tax losses in a shelter....qualified gains in a Roth are not subject to taxation. But, losing Roth IRA to speculation? After tax ordinary income loss on the initial investment and no qualified gain. The worst of possible worlds for a Roth.
Quite clearly, caution will not be watchword employed by part-time investors here. And, much like the long-shot who comes in first at a fixed horse race, it is possible for the small bettor to make a killing if he luckily bets alongside the race fixers.
hoosierdoc
Freed prisoner
that's basically what I'm doing now. I hope to let my GPU mining rig purchase more GPU mining rigs through revenue. Three days ago my $3400 was worth $2300. Yesterday it was worth $4900. Now it's $3920. Insane swings, and I'm not even drinking for free from waitresses in lingerie
. XRP and CVC are my most expensive holdings
hoosierdoc
Freed prisoner
don't assume your metaphor was missed because it wasn't appreciated.
There is ZERO benefit to investing "play" money in a standard account with post-tax dollars. A Roth is post-tax dollars also, but you save all of the capital gains. If you're position is that I'd potentially miss out on funding the IRA at $6500 or whatever the limit is and the gains that would receive by being invested in traditional investments over the next thirty years... I'm OK with that. $6000 with a huge upside potential tax free and at worst a $6000 downside, not including opportunity cost of unrealized gains, is fine by me.
I max my IRA investing (and should convert that to roth but haven't yet) and put additional in standard mutual funds where.... they are subject to standard capital gains taxing. That's what these crypto funds basically are. I'd rather play the high return gamble in a tax-free environment.
It isn't personal Doc. It's more an observation on the state of this market. You aren't the only one asking this type of question. I've heard from others over the holidays that don't have a disposable income anywhere close to what a doctor might, yet they are pondering similar opportunities. One of them was my son, who has a guaranteed rate of return by paying off a car loan and other debt and hasn't considered "the long term" whether that be investments, employment or what have you. He's never had it rain on his parade and believes the sun will always shine.
The Tony Robbins foto was something a brother of mine remarked during the tech bubble of the 90's. He made money in the bull market but had no idea about market fundamentals and quickly exited when the bears came aboard.
In a growing business, everyone has a chance to share in the appreciation of an investment. Someone doesn't have to lose for someone else to win. I'm afraid that at this point, I see crypto currency as the opposite of that: someone will ultimately be left looking for a chair when the music stops.
The Tony Robbins foto was something a brother of mine remarked during the tech bubble of the 90's. He made money in the bull market but had no idea about market fundamentals and quickly exited when the bears came aboard.
In a growing business, everyone has a chance to share in the appreciation of an investment. Someone doesn't have to lose for someone else to win. I'm afraid that at this point, I see crypto currency as the opposite of that: someone will ultimately be left looking for a chair when the music stops.
I think the band will play on well into 2018 so I don't think the music will stop anytime soon. Lots of new money coming in. So much so the exchanges can't keep up with the demand. That's why I like small go no where coins like doge. If it hits .03 I will sell and be very happy. If it craps out no big deal it's just a gamble with money I am willing to lose. After 2018 ill reevaluate and dump if needed.
hoosierdoc
Freed prisoner
I pay 39.6% tax on any short term gain. That's profane. If I'm fortunate enough to win 40% is stolen from me.
that's why I like crypto, keep assets away from .gov and big banks
that's why I like crypto, keep assets away from .gov and big banks
