bitcoin

Posted by: chupacabra

It's pretty quiet here in BTC land.  Another 10K drop since the last post.  Is this another dip of opportunity or is Heckler a genius?

Usually when bitcoin drops, Tether pumps a few billion new fake dollars into the system to prop up the price. But they haven't issued any new tethers since the start of this year. In the meantime, the miners must keep selling their mined bitcoin to be able to pay their huge electricity bills.

Maybe the supply of greater fools is starting to dry up?

has bit coin replaced the  USD yet ?

Posted by: [email protected]

Posted by: chupacabra

It's pretty quiet here in BTC land.  Another 10K drop since the last post.  Is this another dip of opportunity or is Heckler a genius?

Usually when bitcoin drops, Tether pumps a few billion new fake dollars into the system to prop up the price. But they haven't issued any new tethers since the start of this year. In the meantime, the miners must keep selling their mined bitcoin to be able to pay their huge electricity bills.

Maybe the supply of greater fools is starting to dry up?

Why do you think that is?  Is the scheme getting too big to hide?

Posted by: chupacabra

Why do you think that is?  Is the scheme getting too big to hide?

I have no idea. I don't really follow it that much. Just fascinated that such a huge and obvious scam can keep going for so long.

Amy Castor is an independent journalist who reports on this stuff regularly, her blog is a good way to occasionally read up on all this nonsense and have a good laugh.

HODL! LOL

Looking like the gravy train is over at least for a while. Cashed out most of everything. Now comes the challenge of figuring out the tax implications. Not to mention the possible looming legal implications as most of my winnings came from pump and dump scamcoins. 

What a wild year, I'm lucky it went as well as it did for me.

Yeah baby! Thats how it done in the true fashion of a VSE mining stock ! The speculation hasn't changed from back in the day

fuck this next currency BS

Posted by: Fast-Orange

Looking like the gravy train is over at least for a while. Cashed out most of everything. Now comes the challenge of figuring out the tax implications. Not to mention the possible looming legal implications as most of my winnings came from pump and dump scamcoins. 

What a wild year, I'm lucky it went as well as it did for me.

Kinda hard to be prosecuted when they are taxing it.

https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.html

Los Angeles Rams wide receiver Odell Beckham Jr. announced in late November he would be converting $750,000 of his 2021 pay into bitcoin as part of an agreement with the payment service Cash App.

If Beckham converted that amount in a lump sum at the time, it could be worth as little as $35,000 now, after factoring in bitcoin’s slide and his tax burden on the original payment, according to Action Network analyst Darren Rovell.

https://www.washingtonpost.com/business/2022/01/25/crypto-collapse-regulations/

Posted by: Fast-Orange

Looking like the gravy train is over at least for a while. Cashed out most of everything. Now comes the challenge of figuring out the tax implications. Not to mention the possible looming legal implications as most of my winnings came from pump and dump scamcoins. 

What a wild year, I'm lucky it went as well as it did for me.

Congrats my friend.  I am sure the gov will be fine as long as they get their beak wet.  :)

Posted by: PaulB

^^^ That letter is a great summary.

My brother got in when you could mine on a typical home desktop CPU and the reward was 50 BTC per block. He's pretty happy with how things have worked out.

How happy is he now?

Posted by: syncro

Posted by: PaulB

^^^ That letter is a great summary.

My brother got in when you could mine on a typical home desktop CPU and the reward was 50 BTC per block. He's pretty happy with how things have worked out.

How happy is he now?

I think he mostly cashed out awhile ago, so not too affected by this downturn. I'm pretty sure everything he bought was at prices well below $40k, so still ahead with whatever he's got left.

The crypto thread has sure gotten quiet.  Did everyone dump their bored apes?

HODL!!

Can’t say my boring indexes are looking that hot either, but I do need to open a new account still to buy the US dip. 

And bonds are correlated to equities now, so also not smoothing the ride.