Dogecoin or bitcoin

[BigDeal]

Anyone got some good advice on this stuff.
Im aware of some people in my circle doing well at it.
Im nervous about investing in it

[Unique_Carpenter]

BigD,
Just remember that there's always transaction fees.
And. it's not a physical asset.

Last, if your computer craps out, you're sol (hardware, failure, house fire, ex-so taking the machine cause of the pictures, replaced machine but forgot to move data, sent machine to recycle but forgot, kids were playing on computer and inadvertently deleted, and a thousand more). Every IT shop has at least several stories.

[KCGator]

If you deal with Bitcoin, I’d suggest getting the BitPay MC debit and the Coinbase debit cards. That way, the numbers on the screen become tangible assets. I’ve been in since ‘17. I’ve got almost 4 BC’s now. Patience is key. Although, I did make a fortune playing the transactional game on Laser before they went under in ‘18.

My point, if you get the debits, you turn it into spendable cash. It’s where I skim hobby funds...

KCGator

[BBarney]

I am rding the fence myself. Here is a good book explains it very well.
It is for real and will should be looked at by any investor...at least know what it is.

https://www.amazon.com/gp/product/12...KIKX0DER&psc=1

Also a website with podcasts

Coindesk.com

Now you will be dangerous..Good Luck!

[Smoking Monkey]

Great recommendations! My knowledge of cryptocurrencies is very basic and I hope these will help. I'll be all set to lose lots of money:-)

[JRLawrence]

I read an article this weekend (WSJ) concerning the IRS and the use of these coins to get around taxes. The conclusion: don't do it. They have collected evidence on all of these accounts with a value over $20,000. The amount of the added dollars collected vs. the number of actions taken was just staggering. Information has been collected on most of the accounts and many more collections are about to happen under your friend Joe Biden the Dummy. If you are not clean not, get clean before you get sent to jail.

[bikebryan]

Cryptocurrency, especially Dogecoin, is killing the graphics card market. The cryptominers are buying them all up, driving prices sky high. A card that might retail for $400 can easily cost over $3k right now, with no end in sight. No, I am not fond of cryptominers.

[KCGator]

Originally Posted by JRLawrence

I read an article this weekend (WSJ) concerning the IRS and the use of these coins to get around taxes. The conclusion: don't do it. They have collected evidence on all of these accounts with a value over $20,000. The amount of the added dollars collected vs. the number of actions taken was just staggering. Information has been collected on most of the accounts and many more collections are about to happen under your friend Joe Biden the Dummy. If you are not clean not, get clean before you get sent to jail.

That’s a bit of an inaccuracy. It’s not regulated...yet. WS wants to get their hooks in it badly because it’s a cash cow. Now, you are correct on the threshold, however, it’s transactional. Meaning, let’s say I were to use my BitPay MC debit and spend $21k then it would raise some flags. And even then, from what I’ve seen...it’s monthly. Further, the actual number has been fluid. I’ve seen some refer to $15k as the monthly limit. I know CoinBase was watching back in ‘18-‘19 timeframe...their transactional limit was said to be $9k.

So, I stay sub $4k monthly and have been well below the radar. And even then, very few times have I done a cash transaction. 95% of all mine have been fuel, cable bill, utilities, cell, etc. That way there’s minimal/no engagement with bank withdrawals or ATMs. Thus my tangible work earnings get relief and are what’s visible to the gangsters (IRS).

KCGator

[JRLawrence]

Originally Posted by KCGator

That’s a bit of an inaccuracy. It’s not regulated...yet. WS wants to get their hooks in it badly because it’s a cash cow. Now, you are correct on the threshold, however, it’s transactional. Meaning, let’s say I were to use my BitPay MC debit and spend $21k then it would raise some flags. And even then, from what I’ve seen...it’s monthly. Further, the actual number has been fluid. I’ve seen some refer to $15k as the monthly limit. I know CoinBase was watching back in ‘18-‘19 timeframe...their transactional limit was said to be $9k.

So, I stay sub $4k monthly and have been well below the radar. And even then, very few times have I done a cash transaction. 95% of all mine have been fuel, cable bill, utilities, cell, etc. That way there’s minimal/no engagement with bank withdrawals or ATMs. Thus my tangible work earnings get relief and are what’s visible to the gangsters (IRS).

KCGator

You didn't read what I said, or the article in the Wall Street Journal. Tax collection by the IRS has already begun for any profits made; the profits are now traceable.

Now then, did you read this morning's paper.

The value of Bitcoin and others dropped more than 50%, in one day, yesterday.

BAD INVESTMENT, THE AMOUNT OF MONEY NOW AVAILABLE TO YOU, WAS CUT BY AT LEAST HALF IN ONE DAY. DO YOU FEEL GOOD ABOUT THAT?

Back at the ranch: my gold and silver that is held in a safety deposit box is something real I can hold that keeps going up. I can sell gold one Krugerrand coin at a time.

Real Gold is not a series of one and zero laying someplace on a computer that can be lost.

[KCGator]

Originally Posted by JRLawrence

You didn't read what I said, or the article in the Wall Street Journal. Tax collection by the IRS has already begun for any profits made; the profits are now traceable.

Now then, did you read this morning's paper.

The value of Bitcoin and others dropped more than 50%, in one day, yesterday.

BAD INVESTMENT, THE AMOUNT OF MONEY NOW AVAILABLE TO YOU, WAS CUT BY AT LEAST HALF IN ONE DAY. DO YOU FEEL GOOD ABOUT THAT?

Back at the ranch: my gold and silver that is held in a safety deposit box is something real I can hold that keeps going up. I can sell gold one Krugerrand coin at a time.

Real Gold is not a series of one and zero laying someplace on a computer that can be lost.

Again, I can’t speak to articles. There have been thousands stating this and that. What I can speak to with 100% surety is what I HAVE BEEN DOING since 2017 without issue. I don’t put a lot of stock in words on paper when I have my own empirical evidence to do the talking for me.

Oh, and the 3 bitcoins I own and have been siphoning off of...so there is that.

But hey...you got it bud.

KCGator

[JRLawrence]

The price of Bitcoin has fallen to its lowest point in months after China issued a new wave of restrictions clamping down on its use on Tuesday. The move, which also affects all other cryptocurrencies, means financial institutions and payment companies are unable to provide cryptocurrency services, such as transactions, in China.

Other affected services include registration, trading, and settlements, according to Chinese industry bodies the National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China.

The groups also warned against speculative trading of cryptocurrencies, which they said has the effect of "disrupting the normal economic and financial order." The groups added that the prices of cryptocurrency tokens have "skyrocketed and plummeted" recently.


https://www.newsweek.com/china-ban-c...lained-1592747

I don’t put a lot of stock in words on paper when I have my own empirical evidence to do the talking for me.

Everyone understands that you don't "put a lot of stock" in reading and understanding: we feel sorrow for you. Relying on your emotions when dealing with financial things you don't understand must be quite difficult.

[KCGator]

I wouldn’t call any of it emotional when my buy in was about $6k per. But if cheap insults is all you got...go for it. I’m actually winning at it, regardless of what it’s done recently. Empirically, my pockets and two debit cards speak volumes to my success. In fact, my ability to hobby 5-6x a week from these proceeds really is all that need be said. It’s both tangible and functional. Dots on a screen to dollars in my pocket. Lol

But you carry on. Sorry you got butthurt. With that, I’m done engaging you in the discussion since there’s an apparent disconnect with folks simply sharing their experience. Enjoy that. We’re done here.

KCGator

[royamcr]

Originally Posted by BigDeal

Anyone got some good advice on this stuff.
Im aware of some people in my circle doing well at it.
Im nervous about investing in it

I'd advise buying Doge about 2 months ago.

[royamcr]

Originally Posted by bikebryan

Cryptocurrency, especially Dogecoin, is killing the graphics card market. The cryptominers are buying them all up, driving prices sky high. A card that might retail for $400 can easily cost over $3k right now, with no end in sight. No, I am not fond of cryptominers.

Doge does not affect the Graphics market. It uses a CPU or ASIC miner like BTC. But yes, Ethereum folks are grabbing the graphics cards en mass as fast as they are being made. You can pack like 6 or more of them on one PC mainboard.

[royamcr]

Originally Posted by BigDeal

Anyone got some good advice on this stuff.
Im aware of some people in my circle doing well at it.
Im nervous about investing in it

A SB recently asked how ya going to pay, I said Dogecoin, she said WTF... Her loss I guess.