Thread: Cryptocurrency is freedom, Banking is slavery |OT|
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Liberty4all

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My FEG is blowing up huge. Defi man is hot shit right now.
 
Tesla taking Bitcoin for car payments and declaring that they will not convert the received Bitcoin in fiat currency is the first time I've thought crypto has a real future as a currency and not a mere vehicle for speculation.
 
Helium continuing to boom, now at around $10 per helium coin. The coin is a crapshoot, unless you have access to properties spaced about 300+m apart to a few miles, and get multiple miners or there happen to be multiple miners around your area.

At present rate it seems like this can generate from as low as a few dozen bucks a month, to several thousand a month in helium each month if sold at current prices. Price could keep going up or it could crash.

(reminder that coin distribution rewards are rumored to halve in august, + there will be more miners competing for the finite supply of helium tokens being issued)
 
So can anyone give me a rundown of how the whole Cryptocurrency ecosystem works?

I understand that a particular algorithm is run that tends to be parallel/compute heavy and is normally run on a GPU. This is the actual physical "mining" part. These algos take a certain amount of compute resources/time to complete and eventually you have "mined" one "coin" or something to that effect?

So then who owns the coin that you mine on your hardware? Do you own it? If so is the money made by you selling your coins to other people for real cash?

How exactly does the coin convert to real money in a real currency? Can you trade between different types of "coins"?

How is the aggregate value of how well a particular coin is doing on the market calculated?
 
So I had 10 INXT which had been sitting in a wallet for years.


In other news, that's part of a stack that was worth about $5 - all the shit I never bothered to sell off after previous crypto runs.. it's currently worth $516. Note to self - when the market bottoms, buy some shitcoins.
 
My portfolio has been stuck for weeks. I am in a couple of coins, mainly DEFI. Everything else blowing up like the world trade except for what I am sitting on. Still up close to x3 and will hodl but was hoping to see gains again. Oh well thats the game just wait it out.

Still predicting ALGO will have a nice run sooner or later and could be the next chainlink.
 
Too many corporations are investing in BTC. I cant see how the government can put the genie back in the bottle at this ppoint.
 

Welp, time to invest in Monero.

The problem though is the on and off ramps will be monitored. One possible way around this is to get a Crypto Credit Card.


Not available in Canada yet though.
 
Taxman coming for his share welp that would be expected.

Just stay away from the banning.

Getting fucked in the ass with taxes would suck, but it would also be sweet to make enough money to complain about getting fucked in the ass with taxes.
 
Shit has been stalling for too long. A run should be coming any time now, but my portfolio has been sitting at the same amount for like the last month and a half or so.
 
Everything seems to be going up now
yup. everything except ada, which some rumored would be top performer this year go figure. Dropped most of my ada, and moved ada funds to voyager digital stock.

Very tragic didn't catch all the profit trains last year, ada was top performer crypto last year, iirc, and there was the bitcoin miners riot and mara, also voyager digital, all were obtainable for mere cents last year. All doing 40~ to 100+X increase in price. Ridiculous gravy trains.

Hope I'm not too late for the helium train, the coin is now at $15.5.
 
when the market bottoms, buy some shitcoins.
yup, but make sure to move them to your own hardware wallet or paper wallet if not on one of the bigger exchanges, there are some wallets that support tons of alt coins.

I had about 200$ in alt coins, and several of the exchanges were closed.
Getting fucked in the ass with taxes would suck, but it would also be sweet to make enough money to complain about getting fucked in the ass with taxes.

What I'm wondering is if you can treat crypto mining as your business activity? If that were the case you could deduct the price of bitcoin miners, gpus, cpus, motherboard, cases, etc

At least in the U.S it seems deduction might be possible if it can be treated as a business, again that is if crypto mining can be treated as a business.
Under Section 179, you can deduct in a single year the cost of tangible personal property (new or used) that you buy for your business. This includes computers, business equipment, machinery and office furniture.Oct 5, 2017-microsoft.com
 
yup, but make sure to move them to your own hardware wallet or paper wallet if not on one of the bigger exchanges, there are some wallets that support tons of alt coins.

I had about 200$ in alt coins, and several of the exchanges were closed.


What I'm wondering is if you can treat crypto mining as your business activity? If that were the case you could deduct the price of bitcoin miners, gpus, cpus, motherboard, cases, etc

At least in the U.S it seems deduction might be possible if it can be treated as a business, again that is if crypto mining can be treated as a business.

In Canada I think you can claim some of it as capital gains, but I never looked into it. Thats only 25% tax, but not sure the limits etc... And I think they want to change it. But I don't mine I am just holding a small amount thinking the peak will be about this December, and then 2026 we probably bounce back and hit 1 million BTC.
 
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In Canada I think you can claim some of it as capital gains, but I never looked into it. Thats only 25% tax, but not sure the limits etc... And I think they want to change it. But I don't mine I am just holding a small amount thinking the peak will be about this December, and then 2026 we probably bounce back and hit 1 million BTC.
hmmm next bitcoin halving is in 2026? I think the next halving is in 2024. Last bitcoin halving was in 2020 and started the increase in bitcoin price I think.

I'm hoping the crash ain't as big this time, or otherwise voyager stock could take a big dip too. If bitcoin miner stocks drop to single digits with crash that would also sound very promising, assuming another bullrun occurs, if they don't go under.

Currently ether is very profitable to mine, and it would be good if you could discount a high end pc as business expense, and also discount the electricity use, and internet, etc. But not sure if possible.

random google yielded the following on bitcoin halvings
 
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hmmm next bitcoin halving is in 2026? I think the next halving is in 2024. Last bitcoin halving was in 2020 and started the increase in bitcoin price I think.

I'm hoping the crash ain't as big this time, or otherwise voyager stock could take a big dip too. If bitcoin miner stocks drop to single digits with crash that would also sound very promising, assuming another bullrun occurs, if they don't go under.

Currently ether is very profitable to mine, and it would be good if you could discount a high end pc as business expense, and also discount the electricity use, and internet, etc. But not sure if possible.

random google yielded the following on bitcoin halvings

My personal opinion, but what I expect is 70-90% drop sometime in the new year, rock bottom end of 2022. By end of 2026 should hit another peak. I think we can run to 250K this time, and then next time 1 Million.

But just my opinion no fundemnetals or anything behind it. BTC could die at any time. Governments could attack it. But it could just as well continue and in another decade be worth 10, 100, 1000X. Look at where BTC was 10 years ago. Just keeps going.

I would look to buy BTC Nov/Dec 2022-Nov/Dec 2023.
 
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Its starting boys. Hopefully this is another good run and doesn't peter out. Would like to see my stack double before the next dip.
 
Price increase.

I think we gonna see a nice little run on the market with prices going up. WE have been trading sideways for weeks now.
Price increase of what? BTC is down today, as is ETH, I'm just wondering where you're seeing this indication and what specific crypto you're referring to.
 
Price increase of what? BTC is down today, as is ETH, I'm just wondering where you're seeing this indication and what specific crypto you're referring to.

I am looking at my ALTS. Algo, Chain, Stella, Uni all on the upswing.

BTC/ETH might go sideways for a bit as ALTS run.
 
I'm not too worried tbh - it was just some shit hanging in an eth wallet I didn't bother selling ages ago because the whole lot was worth $5 so if I get something great, if not, no fucks given.
Keep an eye out in Nov/Dec. If you see a nice peak take some profits.
 
Keep an eye out in Nov/Dec. If you see a nice peak take some profits.

The coins that have performed are LGO and INXT - tbh I'd expect them to do well next run if I miss the boat on this one, so it's no biggie if I miss the boat. Main focus right now is on waiting for the crash then aiming to not exit quite so early this time. Last time I entered at 3.5k, bang on the right time, but exited around the 12k peak to fund a kitchen. It is what it is, but lesson learned.
 
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The coins that have performed are LGO and INXT - tbh I'd expect them to do well next run if I miss the boat on this one, so it's no biggie if I miss the boat. Main focus right now is on waiting for the crash then aiming to not exit quite so early this time. Last time I entered at 3.5k, bang on the right time, but exited around the 12k peak to fund a kitchen. It is what it is, but lesson learned.

My man good moves. We are thinking the same way.

My prediction is peak in Nov/Dec, then drop for a year and bottom out sometime around Nov/Dec 2022. So good buying season throughout 2023 and then back to the moon and hopefully 1 million BTC 2025.

I am probably going to be in the same boat as you, put in around the same amount and looking to cash out at the end of this year, but hopefully its more around 20K. Hoping that 15K is where I will be at around may/june ish.
 
I am looking at my ALTS. Algo, Chain, Stella, Uni all on the upswing.

BTC/ETH might go sideways for a bit as ALTS run.
helium has also kept going up now at 19.98.

Waiting for helium miner. But the miner situation for helium is not nice, rak is rumored to have heavy delays of more than a year unless you're a business doing big orders, rumor is they're putting the little guys last and prioritizing big customers. And nebra still hasn't shipped their first batch, though it should happen anytime now, they had some delays but at least they've been updating on the shipping situation.

There are even some companies that lend you the helium miners for free and even give you a portion of the profits in helium coins in exchange for putting it on your property. Though I think having an actual miner is better as you get 100% of the profits.
 
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helium has also kept going up now at 19.98.

Waiting for helium miner. But the miner situation for helium is not nice, rak is rumored to have heavy delays of more than a year unless you're a business doing big orders, rumor is they're putting the little guys last and prioritizing big customers. And nebra still hasn't shipped their first batch, though it should happen anytime now, they had some delays but at least they've been updating on the shipping situation.

There are even some companies that lend you the helium miners for free and even give you a portion of the profits in helium coins in exchange for putting it on your property. Though I think having an actual miner is better as you get 100% of the profits.

I think we gonna see a lot of going up, or at least I hope. A nice mini run till the summer and then some more sideways trading. But got my hopes up a couple of times so lets see if its just a small bump or an actual run.

Pretty much any shit coin you would have bought over the winter has gone up. Could have picked up some DNT for 1 cent back in October now its worth 38 cents. Kicking myself on that one. ANKR was less than half a penny in June now its at 19 cents, kicking myself again LOL.

Helium was like 50 cents last June, now 25$. I am hoping my ALGO can get their eventually.
 
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I think we gonna see a lot of going up, or at least I hope. A nice mini run till the summer and then some more sideways trading. But got my hopes up a couple of times so lets see if its just a small bump or an actual run.

Pretty much any shit coin you would have bought over the winter has gone up. Could have picked up some DNT for 1 cent back in October now its worth 38 cents. Kicking myself on that one. ANKR was less than half a penny in June now its at 19 cents, kicking myself again LOL.

Helium was like 50 cents last June, now 25$. I am hoping my ALGO can get their eventually.
some people were getting dozens of helium coins per day, some over a thousand helium coins per month from miners last year. If anyone saved that and didn't sell they made bank. The miners were only about $300 last year, iirc.
 
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My gut feeling on btc is we’ll come out of sideways around 20th April for a move up - breaking out of the ascending triangle. This traditionally harms shitcoins.
 
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Tip: look at horizen (ZEN)

Halved in December and mooning now. $87 usd

Look at ZCASH (ZEC). Halved in October. Mooned to 242 US.

ZEN is a hard fork of ZEC. Both coins held by Greyscale. Zen is one of the few top 100 under $100 US low cap supply coins.

ZEN and ZEC - Same circulating supply, same block reward cut. Just 2 month difference when halving occurred.

Anyways my point is I think ZEN will moon to 240s USD just like ZEC did. That's a 3 bagger in 2 months. Compare the two charts

DYOR, Not financial advice.


edit: now $93 USD
 
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