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re: Official CryptoTalk Thread
Posted on 12/17/20 at 3:05 pm to TigerTatorTots
Posted on 12/17/20 at 3:05 pm to TigerTatorTots
quote:
A crash to ~$50,000 early 2022
You are predicting a crash to 50K huh? A crash from what, if you don't mind?
1
Posted on 12/17/20 at 3:09 pm to James11111
quote:If the model that I've been posting here holds, as it has held for the past year, it says ~$200,000 at the peak. Personally I'm much more conservative and do not believe it gets that high.
You are predicting a crash to 50K huh? A crash from what, if you don't mind?
Posted on 12/17/20 at 3:40 pm to TigerTatorTots
So buy now; sell at 200k a year from now, and buy again at 50k, and wait to make millions?
Piece of cake. Let me write this down somewhere.
Piece of cake. Let me write this down somewhere.
Posted on 12/17/20 at 3:47 pm to James11111
Cross that bridge when we get there, I'm not an advocate of trying to time the market. There is also plenty of brilliant minds saying the typical 4 year bitcoin cycle may not occur after this current run up with all of these institutional investors setting the floor, unlike in the past two post halvening runs.
Posted on 12/17/20 at 4:12 pm to TigerTatorTots
quote:
There is also plenty of brilliant minds saying the typical 4 year bitcoin cycle may not occur after this current run up with all of these institutional investors setting the floor, unlike in the past two post halvening runs.
How will institutes set a solid floor when halvenings double the effort/cost of mining 1 btc? Seems like halvenings will always contribute to cycles of run ups.
Posted on 12/17/20 at 4:26 pm to AMS
quote:Your 2nd sentence doesn't have anything to do with your question.
How will institutes set a solid floor when halvenings double the effort/cost of mining 1 btc? Seems like halvenings will always contribute to cycles of run ups.
Institutional funds and companies holding BTC sets a higher floor because those BTC are less likely to be "traded" like your average weak hand holder. The floor is that more BTC remain on the sidelines and not actively sold during the typical large scale 4 year pullback. That won't be the case for all of the financial funds/companies, but will undoubtedly take more BTC off the market into long term storage.
Your second statement is accurate and really has nothing to do with the first question. Halvenings will always contribute to cycles of run ups due to the difficulty adjustments and increased scarcity.
Posted on 12/17/20 at 4:33 pm to TigerTatorTots
quote:
Your 2nd sentence doesn't have anything to do with your question.
Institutional funds and companies holding BTC sets a higher floor because those BTC are less likely to be "traded" like your average weak hand holder. The floor is that more BTC remain on the sidelines and not actively sold during the typical large scale 4 year pullback. That won't be the case for all of the financial funds/companies, but will undoubtedly take more BTC off the market into long term storage.
Your second statement is accurate and really has nothing to do with the first question. Halvenings will always contribute to cycles of run ups due to the difficulty adjustments and increased scarcity.
It Has to do with the cycles due to halvenings. Regardless of a new floor held by institutes there will be changes in the floor due to halvenings. Seems like it will still Be a similar cycle, which you said wouldn’t occur anymore.
Posted on 12/17/20 at 4:35 pm to AMS
Both halvenings and institutional investments will make BTC tick up.
Posted on 12/17/20 at 4:37 pm to AMS
What I was saying is that the companies and institutional funds adding BTC as an asset will limit the downside of the post halvening crash. Historically, that crash has been 80-90%. With all this BTC locked up on balance sheets, less likely to be traded, the downside for the next "crash" should be less severe.
Posted on 12/17/20 at 4:46 pm to TigerTatorTots
oh no.. the XRP bleedout begins 
Posted on 12/17/20 at 5:44 pm to TigerTatorTots
quote:
post halvening crash. Historically, that crash has been 80-90%.
You mean 80-90% of the increase immediately following the halving?
Posted on 12/17/20 at 5:57 pm to jmcwhrter
XRP and XLM will do really great! 2021 hasn't got here yet! Both will rise to new highs! And probably alot more than you think!
The market cap dropped about 30 billion and shows signs of starting back up at 650 billion right now
The market cap dropped about 30 billion and shows signs of starting back up at 650 billion right now
Posted on 12/17/20 at 6:38 pm to tigermike2004
quote:
Both will rise to new highs! And probably alot more than you think
I bet you $100 in Chainlink this doesn’t happen
Posted on 12/17/20 at 6:55 pm to tigermike2004
quote:You continue to impress me with the breadth of your knowledge!
2021 hasn't got here yet!
ETA: SIAP...
quote:
IRS will make you disclose cryptocurrency on newest tax forms
“At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” the form, released last week, asks, with two options: yes or no.
The question about virtual currencies has been included in tax forms since 2014, as a disclosure that should be treated as property for tax purposes. Cryptocurrency sales or exchanges are taxed as a capital gain or loss, much like a stock or bond, and income from the currencies are also taxed.
But this year, the recently released Form 1040 has the question listed first, right below the taxpayer's name and address, indicating the spotlight the IRS has on cryptocurrencies.
This post was edited on 12/17/20 at 8:11 pm
Posted on 12/17/20 at 8:41 pm to LSURussian
I’ve answered yes to that question for I believe the last three years. Not worried, as I pay taxes on realized gains
Posted on 12/17/20 at 9:23 pm to LSUtoOmaha
Same here I pay my taxes!
Posted on 12/17/20 at 9:27 pm to LSURussian
Answer no unless they send you a 1099
Posted on 12/17/20 at 10:12 pm to James11111
quote:I mean the decline from the previous ATH.
You mean 80-90% of the increase immediately following the halving?
$19k in late 2017 to $3k in late 2018
$1,150 late 2013 to $150 early 2015
Posted on 12/17/20 at 10:14 pm to LSUtoOmaha
quote:Same, that is nothing new.
I’ve answered yes to that question for I believe the last three years. Not worried, as I pay taxes on realized gains
Posted on 12/17/20 at 10:24 pm to TigerTatorTots
Anyone interested in an entry right now hold your fire through tomorrow. Lots of smoke that Mnuchin might try to frick us on his way out. If it happens it should create a great opportunity for a long
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