Crypto currency

Gator By Marriage

A convert to Gatorism
Lifetime Member
Dec 31, 2018
14,884
28,132
Thanks for providing.

It’s just odd they are asking if I purchased Bitcoin. Buying a stock is not a taxable event, so neither should be buying Bitcoin. If I receive it as a gift or salary, then it’s a taxable event, but buying it is not.

Big Brother is watching.
Big Brother may be watching but it's from an obstructed view seat. They are asking you because if you don't tell them, they won't know.
 

no1g8r

Bringing Reason to the dumb masses
Lifetime Member
Oct 23, 2017
2,407
5,295
Big Brother may be watching but it's from an obstructed view seat. They are asking you because if you don't tell them, they won't know.

Caveat, I believe Coinbase is reporting to the IRS, and anyone with realized gains over $600 will be able to expect a 1099-MISC next year. Should be okay for this year though.
 

UFHealthGator

Well-Known Member
Lifetime Member
Nov 12, 2017
1,602
3,947
I'd just keep an eye on the 20 week ema. Bitcoin is testing for the first time since it launched to space when it was 10k. Currently this sits some where between 47 and 49k. Currently this is a huge battle. Need to see weekly closes before this level to confirm a significant downtrend.

If it does it would be a great opportunity imo.

 

Detroitgator

Well-Known Member
Lifetime Member
Jul 15, 2014
28,445
47,243
I'd just keep an eye on the 20 week ema. Bitcoin is testing for the first time since it launched to space when it was 10k. Currently this sits some where between 47 and 49k. Currently this is a huge battle. Need to see weekly closes before this level to confirm a significant downtrend.

If it does it would be a great opportunity imo.


Agreed, FWIW, I'd say 21 EMA, if a close below that, 34 EMA is next to watch with bitcoin

Edit: to be clear, 21 & 34 EMA on weekly chart.
 
Last edited:

BMF

Bad Mother....
Lifetime Member
Sep 8, 2014
25,420
59,320
I'd just keep an eye on the 20 week ema. Bitcoin is testing for the first time since it launched to space when it was 10k. Currently this sits some where between 47 and 49k. Currently this is a huge battle. Need to see weekly closes before this level to confirm a significant downtrend.

If it does it would be a great opportunity imo.



Looks like it's moving upwards again. I added 1% at just under $50k (I now have 9.9% of 1 BTC - getting rich the easy way!!).....
 

Swamp Donkey

Founding Member
7-14 vs P5 Fire Stricklin First
Lifetime Member
Jun 9, 2014
78,409
110,729
Founding Member
Caveat, I believe Coinbase is reporting to the IRS, and anyone with realized gains over $600 will be able to expect a 1099-MISC next year. Should be okay for this year though.
Every legitmate money service business must, including atms.

But if you are getting Bitcoin for heroin or fentanyl, maybe you are ok. Except that all bitcoin transactions are public. So, if they find your wallet, every transaction forever is visible.
 
Last edited:

Gator By Marriage

A convert to Gatorism
Lifetime Member
Dec 31, 2018
14,884
28,132
Every legitmate money service business must, including atms.

But if you are getting Bitcoin for heroin or fentanyl, maybe you are ok. Except that all bitcoin transactions are public. So, if they find your wallet, every transaction forever is visible.
Are you aware 1) how difficult it is to find a wallet and 2) open it up?
 

Gatormac2112

The Voice of Reason
Lifetime Member
Sep 7, 2014
2,737
5,881
BTC down to $43k, just bought another .016 to bring myself up to 10% of 1 BTC

Still expecting it to go lower at some point
 

UFHealthGator

Well-Known Member
Lifetime Member
Nov 12, 2017
1,602
3,947
It's below the 21 EMA now... as UFHealth said, keep watching. Next test would be 34 EMA.

The interesting thing is the weekly close was exactly at it. I like the all out war between Musk and Bitcoiners. Makes for a fun ride. I really need to get on moving my roth IRA to Itrustcapital because we might have a great buying opportunity in the coming weeks to months.
 

Detroitgator

Well-Known Member
Lifetime Member
Jul 15, 2014
28,445
47,243
The interesting thing is the weekly close was exactly at it. I like the all out war between Musk and Bitcoiners. Makes for a fun ride. I really need to get on moving my roth IRA to Itrustcapital because we might have a great buying opportunity in the coming weeks to months.
Ah, right, you are correct.... we need a WEEKLY close on the 21 EMA, not just a daily dip below it.
 

UFHealthGator

Well-Known Member
Lifetime Member
Nov 12, 2017
1,602
3,947
What's the scoop? Fatigue? People taking profits? Something more?

New buyers in the 50s and 60s panic selling based on sentiment. That being said, I finally started buying bitcoin again for the first time since January. This was timed PERFECTLY for me. I am about to close on a Real estate deal and will go shopping for crypto and reinvest into the stock market as it crashes by dollar cost averaging the amount over the next 6 months. Suspect RE will be next to pop, albeit not as quickly and aggressively as 2008.

Funny how my crypto portfolio shrank by 40% almost overnight and I am sitting here smiling.
 

BMF

Bad Mother....
Lifetime Member
Sep 8, 2014
25,420
59,320
All crypto is tanking - saw an article saying China was going to "crack down" on BTC.
 

UFHealthGator

Well-Known Member
Lifetime Member
Nov 12, 2017
1,602
3,947
All crypto is tanking - saw an article saying China was going to "crack down" on BTC.

They do this every bull market. I put China and India news on ignore. Now I think we can also put Musk tweets on ignore.
 
Last edited:

BMF

Bad Mother....
Lifetime Member
Sep 8, 2014
25,420
59,320
They do this every bull market. I out China and India news on ignore. Now I think we can also put Musk tweets on ignore.

I added 3% of a BTC and some LTC. I tried adding LINK & ETH but blockfi kept logging me off. I'm on a work computer today, which may have something to do with it. I'll probably add a little tonight of LINK & ETH.
 

Users who are viewing this thread

Help Users

You haven't joined any rooms.