Cryptocurrency at the coin show - time to get on (or off) the train?

jmlanzaf

I went to a small local coin show on Sunday. Only about a dozen dealers. It's a local monthly coin show.

While I was there, I lively discussion broke out involving 3 of the dealers. One of them had made $3 milllion on Bitcoin and had retired from his school teaching job as a result. The other was trying to figure out which platform was best for him. And the third has been taking cryptos on his coin website. He is up to 1 billion shiba inu coins (current price $0.00004). He said, "It surged last night. When I got up this morning and looked, I almost bagged this show I had made so much money."

So, the question to all of you who continue to refuse to consider cryptos: When there is that much penetration among the coin dealers, is that the sign of a pending collapse or a sign that crypto is here to stay?

Discuss.
Be nice.

BryceM

Oh, I think it's here to stay, but certainly the long-term winners and losers will be difficult to predict.

The volatility, uncertain regulatory future, and lack of any backing whatsoever keep me on the sidelines. Great way to "make" a million, possibly an even better way to loose a million.

jmlanzaf

@BryceM said:
Oh, I think it's here to stay, but certainly the long-term winners and losers will be difficult to predict.

The volatility, uncertain regulatory future, and lack of any backing whatsoever keep me on the sidelines. Great way to "make" a million, possibly an even better way to loose a million.

Well, it depends on how you play it. If you buy and hold a million, sure. The two people who had made a million+ actually had been selling into surges and so actually have $0 of their original investment still invested.

I was a little surprised at the open embrace. When crypto comes up around here, there are some people who are pro-crypto but there are also a lot of vehement protesters.

WQuarterFreddie

Back in 2012-2013 I took a good look at Bitcoin and I remember it was around $700-$800 at that time but decided to pass because I wasn't sure how to turn it in to cash money and there were stories of hackers stealing the Bitcoin from online accounts.

Fast forward to today and even PayPal has gotten in on it so I believe it is here to stay.

Unfortunately, it has taken away the younger investor who would be buying gold and silver if there was no cryptocurrency and therefore gold and silver prices are much lower than they should be in the current market.

In my opinion 😎

jessewvu

I am diversified in crypto, but the whole network could be brought down if the government so desired it to.

With that said, I would rather separate the two; cash for coins and I’ll invest my personal funds accordingly. It would be hard to show crypto losses on a balance sheet if it were tied to my business funds. However, that’s an interesting proposition.

jmlanzaf

@jessewvu said:
I am diversified in crypto, but the whole network could be brought down if the government so desired it to.

With that said, I would rather separate the two; cash for coins and I’ll invest my personal funds accordingly. It would be hard to show crypto losses on a balance sheet if it were tied to my business funds. However, that’s an interesting proposition.

At some point, the IRS and Congress need to figure out exactly how to handle crypto. I should have asked that dealer how he's handling it. He's accepting crypto payments but also keeping a large amount of the proceeds in various cryptos.

MilesWaits

Crypto in some form is here to stay. Maybe not by my generation but many that will continue to carry the torch.
I see all businesses bending to the trend. It’s becoming inescapable. And much more easy to purchase and sell. What are your thoughts JM?

jmlanzaf

@MilesWaits said:
Crypto in some form is here to stay. Maybe not by my generation but many that will continue to carry the torch.
I see all businesses bending to the trend. It’s becoming inescapable. And much more easy to purchase and sell. What are your thoughts JM?

I'm generally pro-Crypto. But there's an old Wall Street saying that "when your cabbie is giving you stock tips, it's time to sell". The sheer excitement about crypto among a group of senior citizens who generally like "artifacts" was both exciting and concerning.

291fifth

All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

TurtleCat

For better or worse, I still have no interest in crypto.

ctf_error_coins

I diversified into crypto and not into gold or silver bullion because of the weight of the asset

jessewvu

Coincidentally, I was wondering about crypto this morning. How easy would it be for a politician to take bribes in crypto? It’s a perfect way around all kinds of reporting and regulation.

Scary stuff

PeakRarities

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

291fifth

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

tincup

Crypto is here to stay.

.... until it isn't.

My question is... where would crypto be placed on the asset pyramid? You know... the one that traditionally has gold as at the tip... and other assets are tiered below (or above it if inverted) it according to risk, desirability, sustainability, etc.

tincup

My example shown above is one example of an asset pyramid. There are others; how would one place crypto in regards to the other assets? Just curious.

So some are saying crypto will be the new world currency. Perhaps. But I hope not until there is more stability to it. Do you want to see the huge swings taking place with your savings, etc.? Not sure that is a very desirable thing.

Gazes

Up until now there is a clear winner and loser for bitcoin, eth, and other cryptos--people who bought have won. It could all implode tomorrow (just like we could have a pandemic and it change society but what are the odds of that happening). But many have already made fortunes and are diversifying into other assets (including coins). It is easy to sit around and shoot down anything new but those who did some homework and took a risk have been handsomely rewarded.

291fifth

@Gazes said:
Up until now there is a clear winner and loser for bitcoin, eth, and other cryptos--people who bought have won. It could all implode tomorrow (just like we could have a pandemic and it change society but what are the odds of that happening). But many have already made fortunes and are diversifying into other assets (including coins). It is easy to sit around and shoot down anything new but those who did some homework and took a risk have been handsomely rewarded.

Speculators.

AMRC

It may be about that time to start accepting it.

PeakRarities

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

So what exactly is it that you're suggesting? Crypto is treated like property by the IRS and is subject to tax as such. Are you suggesting that the government impose some type of unnecessary and unreasonable tax so that crypto is rendered to be useless? My crypto portfolio has performed very well and I'm glad to be apart of it. The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

CoinJunkie

@jessewvu said:
I am diversified in crypto, but the whole network could be brought down if the government so desired it to.

With that said, I would rather separate the two; cash for coins and I’ll invest my personal funds accordingly. It would be hard to show crypto losses on a balance sheet if it were tied to my business funds. However, that’s an interesting proposition.

LOL. You mean like China banning crypto.......... when BTC was about $15k lower than today.

Pedzola

I may not understand all the intricacies of cryptocurrencies, but eventually the music will stop, in my humble opinion.

ElmerFusterpuck

I haven't dabbled in it at all, but it's been interesting to watch. In fact, a few posts on this thread have been instrumental for expanding my holdings of tin foil, along with the hat makers that use it for manufacturing.

lusterlover

I am pro crypto. Having said that, I take it with a grain of salt when someone says they are a bitcoin millionaire. Very very few people even knew what Bitcoin was before 2017. The great majority of people that own it got in in 2019-2020. The low during these times was about $6,000. Now at $60,000+ that's a 10x return. I know very very very few people that have $100 grand laying around to speculatively invest......

I know there are a lot of people who have made money, but I don't believe all the stories. JMHO

DelawareDoons

@291fifth said:

@DeplorableDan said:

@291fifth said:
All cypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

It's called gas and it already exists, basically.

FrankH

Trust others = crypto
Trust only yourself = gold

Spin the wheel.

Crypto

@jmlanzaf said:

@BryceM said:
Oh, I think it's here to stay, but certainly the long-term winners and losers will be difficult to predict.

The volatility, uncertain regulatory future, and lack of any backing whatsoever keep me on the sidelines. Great way to "make" a million, possibly an even better way to loose a million.

Well, it depends on how you play it. If you buy and hold a million, sure. The two people who had made a million+ actually had been selling into surges and so actually have $0 of their original investment still invested.

I was a little surprised at the open embrace. When crypto comes up around here, there are some people who are pro-crypto but there are also a lot of vehement protesters.

I embrace the pro-crypto sentiment, but much like the currencies, they are basing their opinions on their perception of others enthusiasm

FrankH

What about tulips on coins?

PeakRarities

No one can say indefinitely whether its time to get on or off the train. All investments are based around educated speculation. Those that invested have profited greatly, and most that did not pull the trigger have either kicked themselves in the behind, bought at a higher price down the road, or turned into naysayers who pray that it hits the fan soon, so that they can be relieved of remorse of "What if I invested" in the back of their head. Some simply choose not to participate but wish the best for everyone else. "Scared money don't make no money" as they say. I'm heavily invested in crypto and have no plans to liquidate but as prices rise I may start trimming some profits. Government regulation could be a factor very soon, but without the caveat of that being an imminent threat to cryptocurrency, the future would appear to be bright. Who the hell knows anymore. I'm more concerned about the collapse of the dollar than I am the collapse of crypto. Here's a thread from 4 years ago.

https://forums.collectors.com/discussion/comment/11821173#Comment_11821173

291fifth

Crypto has no top ... until the collapse comes. Then, it may have no bottom.

Morpheus1967

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

PeakRarities

@Morpheus1967 said:

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

Of course it’s manipulated, I just think feel that stocks are HEAVILY manipulated where’s crypto is moderately manipulated. I should have been more clear.

ctf_error_coins

@Morpheus1967 said:

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

LMAO

Ask Elon.

jmlanzaf

@DeplorableDan said:

@Morpheus1967 said:

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

Of course it’s manipulated, I just think feel that stocks are HEAVILY manipulated where’s crypto is moderately manipulated. I should have been more clear.

I don't think Crypto would survive a dollar collapse. A rising tide lifts all boats, but a falling tide sinks all boats.

MasonG

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Crypto

@jmlanzaf said:

@DeplorableDan said:

@Morpheus1967 said:

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

Of course it’s manipulated, I just think feel that stocks are HEAVILY manipulated where’s crypto is moderately manipulated. I should have been more clear.

I don't think Crypto would survive a dollar collapse. A rising tide lifts all boats, but a falling tide sinks all boats.

These personal attacks must stop

Morpheus1967

@ErrorsOnCoins said:

@Morpheus1967 said:

@DeplorableDan said:

@291fifth said:

@DeplorableDan said:

@291fifth said:
All crypto transactions should be subject to taxation just as privately issued banknotes were during the Civil War. That would quickly put and end to crypto.

So far as taking advice on crypto from coin show dealers goes, I think remembering the Kennedy story about investment advice from the shoeshine man just prior to the Great Depression might be appropriate.

Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

I'm not talking about income tax, I'm talking about a transaction tax based on the amount of the transaction. There is nothing new about this kind of tax.

The stock market, on the other hand, is heavily manipulated, (by both private and government sectors) and falsely valued. I'm just trying to understand your view, but to me it sounds as if you would rather see more government overreach, simply because you are against the principles of cryptocurrency.

You don't think crypto is manipulated?

LMAO

Ask Elon.

I should have made it clear that I realize it's manipulated. That is why I got out of it. I couldn't stand to see my portfolio fall 25% because Elon thought he was being cute tweeting some meme.

jmlanzaf

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

Crypto

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

To be fair gold has a much longer value history and while you’re correct at this moment, in time the peaks and valleys are not yet done being written for Cryptos. In most markets the flood of imitation in the initial wave is typically followed by a period of contraction where the also-rans fail and shake the confidence of the genre causing across the board losses until an equilibrium is reached.

I have no doubt in the eventual transition to digital currency but I doubt the independents survive unless a Switzerland like country or banking conglomerate officially adopt one. Even then it would most likely be one where they could have a managing position which is too late for the likes of Bitcoin.

I’m not impressed by 3rd world usage or black markets. until I can use it to buy gas, it’s seems like tulips to me.

jmlanzaf

@Crypto said:

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

To be fair gold has a much longer value history and while you’re correct at this moment, in time the peaks and valleys are not yet done being written for Cryptos. In most markets the flood of imitation in the initial wave is typically followed by a period of contraction where the also-rans fail and shake the confidence of the genre causing across the board losses until an equilibrium is reached.

I have no doubt in the eventual transition to digital currency but I doubt the independents survive unless a Switzerland like country or banking conglomerate officially adopt one. Even then it would most likely be one where they could have a managing position which is too late for the likes of Bitcoin.

I’m not impressed by 3rd world usage or black markets. until I can use it to buy gas, it’s seems like tulips to me.

Again, that prior thread specifically asked about 5 years... and it's a rout.

You can buy a lot of things with it, including coins.

Where do you buy gas that accepts gold bullion?

Crypto

@jmlanzaf said:

@Crypto said:

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

To be fair gold has a much longer value history and while you’re correct at this moment, in time the peaks and valleys are not yet done being written for Cryptos. In most markets the flood of imitation in the initial wave is typically followed by a period of contraction where the also-rans fail and shake the confidence of the genre causing across the board losses until an equilibrium is reached.

I have no doubt in the eventual transition to digital currency but I doubt the independents survive unless a Switzerland like country or banking conglomerate officially adopt one. Even then it would most likely be one where they could have a managing position which is too late for the likes of Bitcoin.

I’m not impressed by 3rd world usage or black markets. until I can use it to buy gas, it’s seems like tulips to me.

Again, that prior thread specifically asked about 5 years... and it's a rout.

You can buy a lot of things with it, including coins.

Where do you buy gas that accepts gold bullion?

Have you ever had a gas station decline it ?

HoneyMarket

@jessewvu said:
...How easy would it be for a politician to take bribes in crypto? It’s a perfect way around all kinds of reporting and regulation.

Scary stuff

I believe I read that the modern day version of the Rosenberg's (that couple from Annapolis, MD selling submarine secrets) that they were paid some initial fees by the FBI in crypto and now the FBI can't get that crypto money back!

So, yes...I am sure we'll hear of some shady politicians in the future who traded votes to be bought off with crypto.

Type2

I can remember but wish I didn’t. When I went to a Long Beach show and some one was set up there saying bit coin for .05 a coin I laugh at him and he said what’s $20.00 I kept walking and said I’m good now I feel like a dumb a$$. Take the chance at life you can buy a cup of coffee for $6.00 just do it.

jmlanzaf

@Crypto said:

@jmlanzaf said:

@Crypto said:

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was posed specifically over a 5 year timeline and we're 4.5 years into it. So, the prognosticators now know how well they did...and it wasn't even a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

To be fair gold has a much longer value history and while you’re correct at this moment, in time the peaks and valleys are not yet done being written for Cryptos. In most markets the flood of imitation in the initial wave is typically followed by a period of contraction where the also-rans fail and shake the confidence of the genre causing across the board losses until an equilibrium is reached.

I have no doubt in the eventual transition to digital currency but I doubt the independents survive unless a Switzerland like country or banking conglomerate officially adopt one. Even then it would most likely be one where they could have a managing position which is too late for the likes of Bitcoin.

I’m not impressed by 3rd world usage or black markets. until I can use it to buy gas, it’s seems like tulips to me.

Again, that prior thread specifically asked about 5 years... and it's a rout.

You can buy a lot of things with it, including coins.

Where do you buy gas that accepts gold bullion?

Have you ever had a gas station decline it ?

I've had stores decline large bills. I'm pretty sure 99.9% of them would have no idea what to do with a gold bar. You'll be paying with bitcoin long before they accept bullion.

ThreeCentSilverFL

It’s proving to be an asset class. At least with respect to BTC and ETH which make up the majority of my crypto holdings. Probably other tokens as well. I treat it as any other alternative asset class. I’d rather have a little exposure than none.

jmlanzaf

@Crypto said:

@jmlanzaf said:

@MasonG said:

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were

@jmlanzaf said:
Should have bought 2 bitcoin during that thread.

It's always easier in hindsight, isn't it?

Yes, although I have some crypto, about as much as I'm comfortable with. But I said it more for the benefit of the people on that prior thread who were adamant that the AGEs were the better choice. Remember, the question on the thread was a close call. If you bought 2 AGEs, you still have 2 AGEs. If you bought 1 Bitcoin, you now have 35 AGEs!

To be fair gold has a much longer value history and while you’re correct at this moment, in time the peaks and valleys are not yet done being written for Cryptos. In most markets the flood of imitation in the initial wave is typically followed by a period of contraction where the also-rans fail and shake the confidence of the genre causing across the board losses until an equilibrium is reached.

I have no doubt in the eventual transition to digital currency but I doubt the independents survive unless a Switzerland like country or banking conglomerate officially adopt one. Even then it would most likely be one where they could have a managing position which is too late for the likes of Bitcoin.

I’m not impressed by 3rd world usage or black markets. until I can use it to buy gas, it’s seems like tulips to me.

https://www.crowdfundinsider.com/2021/05/175967-sheetz-gas-stations-will-accept-crypto-as-payment-in-partnership-with-flexa/amp/

Here ya go. You can already buy gas with bitcoin. Next objection...?

Gazes

It's already the national currency of a central american country. Also, the fact that certain countries have banned it probably says more good things about it then bad

fathom

Yes.. accept it while its going up and deny it when it goes down.

Does this give anyone a warm fuzzy feeling about incorporating it into your business receivables?

BStrauss3

@DeplorableDan said:
Crypto transactions ARE subject to taxation. Whether someone chooses to report it or not is a different story. All of the major exchanges provide tax documentation at the end of the year

More importantly, several pro-investor rules that apply to stocks and other assets DO NOT APPLY to Crypto.

Let's say you bought 100 shares of Apple last year, in the downturn a few weeks ago, you sold it up $50 and you bought it back 10 days later for $10 less a share. The "Wash sale" rule means your basis cost is still from a year ago, and the $10 per share you made is effectively a free and clear loan. Uncle will get his slice when you ultimately sell.

Did the same thing with crypto? Your sale up $50 is taxable. There is no wash sale, so your basis is the $10 less a share you bought it at.

streeter

You go into a gas station to fill your tank. There is no electricity. So sorry.

That's the way I look at bitcoin. If there's no internet access, you forgot your key, no electricity, your laptop is broken or if you want to buy a Ford but only the Chevy dealer takes bitcoin...you are SOL.

291fifth

@Gazes said:
It's already the national currency of a central american country. Also, the fact that certain countries have banned it probably says more good things about it then bad

Central American Country ... there's real trustworthiness!