OT: Stock trading | Page 143 | The Boneyard
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OT: Stock trading

HuskyHawk said:
Any recommendations for an online wallet (I have an offline hard wallet) for someone who uses Coinbase as an exchange? I've got enough on the exchange that I want to put it in a soft wallet at least.
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Trust
 
QDOG5 said:
Ok, old-ish guy here. Not as old as my avatar. What is the best way to dip my investing toe into blockchain? Let's say I don't want to own a single or a few different cryptos. Are there indexes that trade? Bottom line, I would like to invest in blockchain technologies not try to pick winners on a crypto to crypto basis. Kind of like sector indexes.
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Coinbase is the best way to get started. Just remember, when you leave them on any exchange, you don’t own them. That’s why you see us talking about wallets. It’s not like a stock. I’m not sure about crypto “baskets”

if you want to use the stock market, grayscale is a good one, there’s a polkadot equity in Switzerland, and several other ets, etc you can find
 
@UConnSwag11 Thanks. So, get a wallet first so you're able to transfer after purchase? Is Kraken a good way to invest in Polkadot for US buyers? This stuff is way over my head but I'm convinced that while I'm late to the party the party will last a long time. Also, no better way to figure something out than to get a little skin in the game without taking big risks.
 
I purchased all my DOT off Kraken and stake it all there as well. Best and easiest option.
 
QDOG5 said:
@UConnSwag11 Thanks. So, get a wallet first so you're able to transfer after purchase? Is Kraken a good way to invest in Polkadot for US buyers? This stuff is way over my head but I'm convinced that while I'm late to the party the party will last a long time. Also, no better way to figure something out than to get a little skin in the game without taking big risks.
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I’ve never used kraken. If you have coinbase, I’d buy link, btc, ETH, xlm, Cardano, matic.

if you get a wallet, you are responsible for everything. If you loose your password or recover words, all your crypto is gone. You are your own bank. Coinbase and all exchanges hold your crypto for you and can essentially do whatever they want
 
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Zionn said:
They will eventually do this for all exchanges. I HODL long term so not taxable gains. CoinTracker is a great app to monitor taxes with crypto.
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I’m going to use koinly. I’ve read that capital gains taxes apply to holding
 
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UConnSwag11 said:
I’m going to use doubly. I’ve read that capital gains taxes apply to holding
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I’ve been under the impression that long term, over 1 year, is the same as stocks. Instead of being taxed as income, it puts you in that 0%, 15%, 20%, depending on how much you make.

www.coindesk.com

How to File Your Crypto Taxes (and Not Get Screwed)

Here are seven things you need to know about cryptocurrency taxes.
www.coindesk.com www.coindesk.com
 
HuskyCLT said:
I’ve been under the impression that long term, over 1 year, is the same as stocks. Instead of being taxed as income, it puts you in that 0%, 15%, 20%, depending on how much you make.

www.coindesk.com

How to File Your Crypto Taxes (and Not Get Screwed)

Here are seven things you need to know about cryptocurrency taxes.
www.coindesk.com www.coindesk.com
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Any crypto to crypto transaction is taxable. Any conversion of crypto to usd is a taxable event, treated as capital gains tax. Buying crypto and holding is not a taxable event.

Crypto gets taxed as first in first out. So if you bought 1 ETHEREUM back in 2017 for 10 bucks and 1 ETHEREUM for 3500 yesterday, and decided to sell 1 ETHEREUM today for 3600, you will get taxed on the gains you made on your first ETHEREUM purchase in 2017.
 
uconntoatl said:
Any crypto to crypto transaction is taxable. Any conversion of crypto to usd is a taxable event, treated as capital gains tax. Buying crypto and holding is not a taxable event.

Crypto gets taxed as first in first out. So if you bought 1 ETHEREUM back in 2017 for 10 bucks and 1 ETHEREUM for 3500 yesterday, and decided to sell 1 ETHEREUM today for 3600, you will get taxed on the gains you made on your first ETHEREUM purchase in 2017.
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Agree - but wouldn't that ETH you sell from 2017 be 0% under the long term capital gains rate since you've held over 1 year? Not to argue, but want to know as I've been purposely trying to hold a lot of my crypto over 1 year for this reason.

1620481190069.png
 
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ClifSpliffy said:
and for those playing along at home and wondering 'am i too late to join the hottest card game on earth?' the answer to the question is 'no, ur not too late, bcuz it's just getting started. plenty of time to have both epic wins and losses.'
Goldman Sachs internal memo unveils new cryptocurrency trading team (cnbc.com)
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I often discuss this with my crypto friends, regarding which inning crypto is in. The consensus seems to be the 2nd or 3rd inning. Almost everyone I know is at least aware of it now.
 
ClifSpliffy said:
'plenty of time to have both epic wins and losses.'
huh, that was quick.
What the dogecoin army is saying as the cryptocurrency’s 30% tumble triggers a bearish break in the long-term trend line - MarketWatch
sumbody here owes me sum gold tulips, or sumthing like that. im easy, and will gladly accept a bag of micky d's mcdoubles as payment instead. i can, and do eat a lot of different things, but gold tulips ain't on my takeaway menu.
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Uh, everybody and their mother knew Dogecoin was a pump and dump. Its just the people that don't have a clue that thought they had some revelation by calling it.
 
Jay-Bone said:
Uh, everybody and their mother knew Dogecoin was a pump and dump. Its just the people that don't have a clue that thought they had some revelation by calling it.
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If you were in early - doge went up 20,000%. If if goes from .70 to .40 it means very little it just a 2-3x.
 
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Scot-e said:
If you were in early - doge went up 20,000%. If if goes from .70 to .40 it means very little it just a 2-3x.
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Its still a joke coin. In my opinion, not good for the crypto ecosystem. One that's trying to become substantiated. Thanks Elon.

In fact, a lot of people that "got in early" were getting them free for signing up on exchanges. Those exchanges are getting rekt.
 
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ClifSpliffy said:
'plenty of time to have both epic wins and losses.'
huh, that was quick.
What the dogecoin army is saying as the cryptocurrency’s 30% tumble triggers a bearish break in the long-term trend line - MarketWatch
sumbody here owes me sum gold tulips, or sumthing like that. im easy, and will gladly accept a bag of micky d's mcdoubles as payment instead. i can, and do eat a lot of different things, but gold tulips ain't on my takeaway menu.
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I was late to party. Ethereum seems like a better play. I don't think Doge has a long runway left. How much higher can it reasonably go? 40% to 1 dollar?

I think ETH is better and maybe even ethereum classic worth holding. I am late to crypto, but I am going to go with ETH for the long haul. Doge is fun, but i don't see the runway. Impossible for it to go higher than $1.

Also, saw some discussions that Bitcoin is kind of like gold. Since there is a finite resource of bitcoin available, it is going to end up kinda like gold is as a reserve currency. I like that analogy.
 
JohnFSilver said:
I was late to party. Ethereum seems like a better play. I don't think Doge has a long runway left. How much higher can it reasonably go? 40% to 1 dollar?

I think ETH is better and maybe even ethereum classic worth holding. I am late to crypto, but I am going to go with ETH for the long haul. Doge is fun, but i don't see the runway. Impossible for it to go higher than $1.

Also, saw some discussions that Bitcoin is kind of like gold. Since there is a finite resource of bitcoin available, it is going to end up kinda like gold is as a reserve currency. I like that analogy.
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You are not too late to invest in crypto. But please do not start by buying DOGE. its up 14000%- all the money has been made that matters and it is a joke coin.
if you want something outside of the solid projects like ETH-that is quirky- I love HEX.
It’s like a certificate of deposit -designed to increase in value. its a little harder to buy but you can put in a little money- stake the hex then forget about it till you re-stake it again. It’s been a steady 2000% a year for me so far.
 
JohnFSilver said:
I was late to party. Ethereum seems like a better play. I don't think Doge has a long runway left. How much higher can it reasonably go? 40% to 1 dollar?

I think ETH is better and maybe even ethereum classic worth holding. I am late to crypto, but I am going to go with ETH for the long haul. Doge is fun, but i don't see the runway. Impossible for it to go higher than $1.

Also, saw some discussions that Bitcoin is kind of like gold. Since there is a finite resource of bitcoin available, it is going to end up kinda like gold is as a reserve currency. I like that analogy.
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I'm offended Doge is even mentioned in conversation with Ethereum.
 
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'Also, saw some discussions that Bitcoin is kind of like gold. Since there is a finite resource of bitcoin available, it is going to end up kinda like gold is as a reserve currency. I like that analogy.'
suuuuure it will. at least 5,500 years of human history vs. a figurative 5 and a half months of crypto history. not a 'goldbug' at this time, but also not dismissive of legit resumes either.
but u are right that in some circles, of course bitcoin 'is going to end up kinda like gold is as a reserve currency.' very small circles, but circles nonetheless. circlejerks, methinks.
 
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