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In Bitcoin We Trust

  #61 (permalink)
 PrymeTyme 
V/Austria
 
Experience: Master
Platform: MT4/Ninja/TT/MultiCharts
Trading: FX / Indices
Posts: 88 since Oct 2010
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PrymeTyme View Post
BTC the only Buy and Hold option out there...


either zero or hero.....




patience.....






still hodling...

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  #62 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
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Thought I would post this from my news feed......


Quoting 
10:46 (US) SEC Chairman Powell: if you lose money with cryptocurrency, there is a substantial risk that our efforts will not result in a recovery of your investment - We commend the North American Securities Administrators Association (NASAA) on their release highlighting important issues and concerns related to cryptocurrencies, initial coin offerings (ICOs) and other cryptocurrency-related investment products. - The release recognizes that cryptocurrencies, while touted as replacements for traditional currencies, lack many important characteristics of traditional currencies, including sovereign backing and responsibility, and now are being promoted more as investment opportunities than efficient mediums for exchange. Link: https://www.sec.gov/news/public-statement/statement-clayton-stein-piwowar-010418 Related ( POLITIX BTC/USD GBTC ) - Source TradeTheNews.com

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #63 (permalink)
 blb014 
Dallas, Texas
 
Experience: Intermediate
Platform: TOS
Trading: AAPL, /ES, IWM, SPY Options
Posts: 330 since Oct 2012
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PrymeTyme View Post
patience.....






still hodling...

Let me tell you about a poker player I know. He plays low stakes 1/2 and 1/4. Drives a 1970 Chevy luv never made an actual investment in his life but Bought 10 bitcoin back in 2013 and still holding it lol.

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #64 (permalink)
bottakemoney
Pflugerville, texas
 
Posts: 7 since Jun 2013
Thanks Given: 0
Thanks Received: 6

if you swing it, how do you keep records and report taxes on bitcoin? or do you? I am in some coins...LTC, TRX, ADA and EOS and OMG.... but scared to swing trade them and get bogged down in records of in and out and how it effects taxes....

any help?

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  #65 (permalink)
 
CenFlo's Avatar
 CenFlo 
Tampa FL
 
Experience: None
Platform: TOS/TradingView
Broker: TDA
Trading: Equities/Cryptos
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bottakemoney View Post
if you swing it, how do you keep records and report taxes on bitcoin? or do you? I am in some coins...LTC, TRX, ADA and EOS and OMG.... but scared to swing trade them and get bogged down in records of in and out and how it effects taxes....

any help?

There are several sites out there (https://bitcoin.tax/ comes to mind) that can assist you in the year end tax process.

As a suggestion, if you've had any appreciable gains, claim them and pay the taxes. I have every year and it sucks to pay capital gains, but trust me the last thing you want to F--- with the IRS / .Gov on this.

You miss 100% of the shots you don't take. - Wayne Gretsky
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