- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Official CryptoTalk Thread
Posted on 5/13/22 at 9:48 am to The_Duke
Posted on 5/13/22 at 9:48 am to The_Duke
quote:
Sure the technology may be promising in the future, but the only crypto that will mean anything is the one the US government backs.
The technology is promising now and valuable now, and the Bitcoin network has seen an increasing adoption curve that you'd have to be blind not to notice.
But again, to anyone whose convictions are such that these are inherently valueless propositions; this is the Money Talk so I'd suppose the best course of action for you is to find vehicles to expose you to long term shorts on the space.
This post was edited on 5/13/22 at 9:52 am
2
Posted on 5/13/22 at 9:58 am to BottomlandBrew
quote:
The list goes on. There are real uses for these products.
That's the overall blockchain technology that I already agree will have value to society at some point in the future.
You mentioned Eth specifically so I asked what do they do that's different from the others that made you invest in them? how are they special? what is their pitch?
Posted on 5/13/22 at 10:01 am to Ross
quote:
The technology is promising now and valuable now, and the Bitcoin network has seen an increasing adoption curve that you'd have to be blind not to notice.
yes, it is---but it's still in the early stages. It's too cumbersome for the masses of society to use. PPl like to pick things up and they work.
No one cares how Zelle, "quick pay", works-- They just want it to work when they need it, without much fuss.
Posted on 5/13/22 at 10:21 am to The_Duke
quote:
at's the overall blockchain technology that I already agree will have value to society at some point in the future.
Then I'm unsure what your point is about crypto being a scam. If these ecosystems produce projects, then those products should have value.
quote:
You mentioned Eth specifically so I asked what do they do that's different from the others that made you invest in them? how are they special? what is their pitch?
Hmm, let's see if I can defend ETH here. Do you know about the blockchain trilemma? It's similar to the old adage of cheap, fast, and quality, expcept in this case you have decentralization, scalability, and security.
A developer must make compromises on those three things. ETH is decently decentralized and very secure, but it's not very scalable, thus the high fees and low transaction times.
Since ETH is so secure and decentralized, I believe it makes it an ideal layer for high-value transactions. ETH has been battle tested, and weaknesses have been found and fixed.
We can get into the Layer 2 solutions and sidechains, but that's a whole other things.
Since I don't believe ETH will be the only player in the ballgame, I also have money on other ecosystems. Say Solana, Avalanche, Polkadot, etc, all have different interpretations of what is important in the trilemma and they will all serve different markets.
Posted on 5/13/22 at 10:35 am to The_Duke
Your view is too small. While it is true damn near every American can live without crypto today, the borderless and trustlesss systems have unlimited value around the world.
Posted on 5/13/22 at 10:39 am to BottomlandBrew
This isn't a crypto debate thread. I come here to learn and talk about crypto projects, not to read the opinions of naysayers who know nothing about it. Please start your own threads or bump the existing anti-crypto threads.
This isn't directed at you, BottomlandBrew
This isn't directed at you, BottomlandBrew
Posted on 5/13/22 at 10:56 am to The_Duke
quote:
Care to share any examples as it relates to investing and the stock market in particular?
I don't because you are incapable or recognizing value is relative and that others can perceive value in something you don't. Take your baseball card analogy for example, the fact that one exists and 2 people want it immediately gives it value (legitimate in your eyes or not).
Posted on 5/13/22 at 11:04 am to The_Duke
quote:
What does Ethereum (specifically) provide to society?
It gives me a pay check every day. Literally.
Posted on 5/13/22 at 11:09 am to The_Duke
quote:
Care to share any examples as it relates to investing and the stock market in particular?
Sure thing.
1- I get paid EVERY DAY by mining ETH. I elect to get paid in BTC. I convert that to USD (again every day) and put it in my bank account.
2- My Webull, TDA, and RH is set to purchase stocks weekly. They pull the money from my bank account automatically.
Posted on 5/13/22 at 11:12 am to ronricks
quote:this line of thinking boggles my mind
If I have a Ferrari or a Rolex or even artwork it is something I actually hold. Despite the claims nobody on here actually has possession of BTC. It doesn’t exist.
Posted on 5/13/22 at 11:13 am to The_Duke
quote:Nice to meet your Mr. Webster!.
Value is the impact something has on the human experience-
Posted on 5/13/22 at 11:15 am to ronricks
quote:
If I have a Ferrari or a Rolex or even artwork it is something I actually hold. Despite the claims nobody on here actually has possession of BTC. It doesn’t exist. It’s going to be very bad for many of you which is why you see suicide hotlines being posted in BTC forums. You don’t see that anywhere else.
You would love NFTs. I have got a few recommendations if you're interested.
This post was edited on 5/13/22 at 11:16 am
Posted on 5/13/22 at 11:17 am to Jjdoc
quote:
1- I get paid EVERY DAY by mining ETH. I elect to get paid in BTC. I convert that to USD (again every day) and put it in my bank account.
How does this work for taxes? Is the conversion from ETH > BTC > USD so quick that even though both actions are taxable that it really only results in one taxable event with value and one taxable event with basically $0 value? And what's the advantage of converting it to BTC before selling it for USD?
What are your plans for after the Merge?
This post was edited on 5/13/22 at 11:18 am
Posted on 5/13/22 at 11:17 am to Ross
Funny how you posed the suggestion to the two people in here saying it’s the end of crypto, to short the market given their certainty of their statements…and both have ignored your post. The anti crypto bros talk a lot but are too pussy to put their money where their mouth is
Posted on 5/13/22 at 11:20 am to TigerTatorTots
I mean it’s one thing to be skeptical, but these people sound so sure it’s worthless. Why not make some money on the way down?
Posted on 5/13/22 at 11:20 am to TigerTatorTots
quote:
quote:
If I have a Ferrari or a Rolex or even artwork it is something I actually hold. Despite the claims nobody on here actually has possession of BTC. It doesn’t exist.
this line of thinking boggles my mind
This ignores the fact that most people no longer go into the office to collect a pay check and then drive to the bank. It's directly deposited.
They don't actually hold that money.
Posted on 5/13/22 at 11:22 am to Jjdoc
quote:
They don't actually hold that money.
Don't need to, it's backed by trident missile submarines.
Posted on 5/13/22 at 11:29 am to MrSpock
So what makes Hex a poo coin?
Posted on 5/13/22 at 11:41 am to The_Duke
quote:like a broken record... comes talking shite about crypto, and when you start getting proven wrong you ask others to do research for you.
That's the overall blockchain technology that I already agree will have value to society at some point in the future.
You mentioned Eth specifically so I asked what do they do that's different from the others that made you invest in them? how are they special? what is their pitch?
How about you start doing research on this asset class and come back.
Posted on 5/13/22 at 11:46 am to BottomlandBrew
quote:if you do it right, it is a little tedious.... say you get 1 payment of 100 bucks worth of Eth a day. so that is a taxable event, and you owe income tax on that 100...If you swap that to BTC asuming it is still valued at 100, thats a taxable event... with your cost basis of 100 so you owe gains of nothing. Say that 100 raised in value to 110. you would owe short term gains on that 10 bucks. do when you sell that BTC to USD, thats another taxable event. and you would owe short term taxes on that gain(or loss) of the 110.
quote:
1- I get paid EVERY DAY by mining ETH. I elect to get paid in BTC. I convert that to USD (again every day) and put it in my bank account.
How does this work for taxes? Is the conversion from ETH > BTC > USD so quick that even though both actions are taxable that it really only results in one taxable event with value and one taxable event with basically $0 value? And what's the advantage of converting it to BTC before selling it for USD?
Page 1953 of 2102
Popular
Back to top
Follow TigerDroppings for LSU Football News