Bitcoins - about to hit $5,000 per coin today!

[obsidian]

Yes some countries may consider it a capital gain and want tax. Others might classify it as income considering you as being a professional trader. If you are still earning investment income it’s best not to live in countries like the US.

Having said that tax man will only know if you bought via exchange or if you deposit cash profits from a sale into a bank acct. For this reason more and more people are trading anonymously peer to peer and not “cashing in”.
but rather staying in BTC long term.

I think you mean cashing out. If you sell your BTC you are cashing out.

[Griffith]

Yes some countries may consider it a capital gain and want tax. Others might classify it as income considering you as being a professional trader. If you are still earning investment income it’s best not to live in countries like the US.

Having said that tax man will only know if you bought via exchange or if you deposit cash profits from a sale into a bank acct. For this reason more and more people are trading anonymously peer to peer and not “cashing in”.
but rather staying in BTC long term.

And that in itself can be a catch for many people, to not be able to convert their investment into cash or put it into a bank account. Then they're basically locked in.

[gib]

And that in itself can be a catch for many people, to not be able to convert their investment into cash or put it into a bank account. Then they're basically locked in.

To “convert into cash” you simply sell it to someone who will give you cash for it. It’s that simple. Your coins are in cyberspace and you can exchange them for any currency anywhere in the world (or anything else of value that you may agree upon, whether a good or a service).

No one is “locked in” but many are choosing to hodl long term as they have lost faith in ever devaluing (and taxable) cash issued by governments.

A BTC would say that if you are in cash you are in fact “locked in” to a system that makes you a slave controlled by the state. And that by moving wealth into a universal cyber currency controlled by no one and mathematically limited in supply you are actually buying freedom and flexibility. That’s the thinking - and more people are coming around to it. Look especially at what happens when a country’s economic or political systems collapse. People move to BTC as a safe haven and store of value.

[gib]

Oh and 8700 (that one’s for you Mr A).

[gib]

Make that $8800...

[Theoak*]

https://m.imgur.com/J5saKql

[Theoak*]

$400,000,000(40k btc) was moved on June 17th for a fee of $2.38.

No bank, government or third party had to verify the transaction, nor could they have stopped it.

True power of btc!

[gib]

$400,000,000(40k btc) was moved on June 17th for a fee of $2.38.

No bank, government or third party had to verify the transaction, nor could they have stopped it.

True power of btc!

Yeah buddy! There are many people who move very substantial amounts of money between countries. All with BTC. All anon. All untaxed. All secure.

[gib]

Oh and $8900...

[f450]

Things are looking better for those poor guys who got destroyed buying in at over 15k. They are still carrying a massive loss but its looking better.
Maybe stop updating every 100$ and come back when its over 16k.

[SOMEPARTS]

Facebook is launching Libra...a huge adoption rate instantly. Just think of all those Facebook idiots that will never use BTC ready to go.

[gib]

Facebook is launching Libra...a huge adoption rate instantly. Just think of all those Facebook idiots that will never use BTC ready to go.

Exactly!

[gib]

Oh and $9000.

[IronMagazine.com]

$9500!!!

[tres_taco_combo]

Full time investor. Yourself?

I am a mortgage broker - been at the game since 2006 started when I was 23 years old. I worked before the boom, worked during the housing bust. many mortgage brokers were causalities during the recession which some of my best years since there was less competition.

i did a lot of divorce refinances, Harp transactions from 2007  to 2011 and just found a niche way to make money -

I love my career - to be a good mortgage broker: you need to out hustle your competition (more calls, emails, meetings, provide more value, know more loan programs) it just like being a conditioned bodybuilder - how much will power do you have? can you hustle? then your referral partners must like you.


i don't recommend my line of work though since many people arent self starters, cant hustle, also you need to learn to eat rejection like candy -

mortgage rates are low! love it


using bitcoin for your mortgage application is dicey - it can be done, but lot of documentation is needed

[gib]

I am a mortgage broker - been at the game since 2006 started when I was 23 years old. I worked before the boom, worked during the housing bust. many mortgage brokers were causalities during the recession which some of my best years since there was less competition.

i did a lot of divorce refinances, Harp transactions from 2007  to 2011 and just found a niche way to make money -

I love my career - to be a good mortgage broker: you need to out hustle your competition (more calls, emails, meetings, provide more value, know more loan programs) it just like being a conditioned bodybuilder - how much will power do you have? can you hustle? then your referral partners must like you.


i don't recommend my line of work though since many people arent self starters, cant hustle, also you need to learn to eat rejection like candy -

mortgage rates are low! love it


using bitcoin for your mortgage application is dicey - it can be done, but lot of documentation is needed

Great. Not everyone is cut out for a sales job. Do you get ongoing income from each mortgage written?

[obsidian]

Ethereum going up as well. $285.64 and market cap of $30.27 billion

Some positive developments for Ethereum. I feel it is underpriced at the moment and should be trading at least 1/10th or 1/15th of Bitcoin. Bitcoin will probably rise to $10,000 soon and then on to $14,000. So Ethereum in my mind is still a bargain and should be at least $750 - $1000 when Bitcoin is at $10,000. We'll see where is ends up the next few years. I am going to hold for the foreseeable future.

MetLife Plans To Disrupt $2.7 Trillion Life Insurance Industry Using Ethereum Blockchain

https://www.forbes.com/sites/stevenehrlich/2019/06/19/metlife-plans-to-disrupt-2-7-trillion-life-insurance-industry-using-ethereum-blockchain/#270b88e27702

 

[gib]

As Bitcoin approaches $10,000 I thought it would be nice to revisit some GetBig history from the archives...

BTC at 381...

It's a scam, a fad, a bubble, a trading vehicle.  Might as well buy some penny stocks... at least they trade on a legit exchange.

100% trackable and controllable.  Don't believe all the encryption security nonsense.

Look at a daily bitcoin chart... totally parabolic.  The next crash will be glorious.  

BTC at $576...

Bitcoin is so 2013. The bitcoin bubble has popped. It's over.

BTC at $4319...

Me thinks this was THE top.  Let's see if I'm right.

BTC at $6750...  

As I mentioned earlier in this thread... when the avalanche of sell orders come in and everyone is looking for an exit at the same time... they not be able to sell and most will get their faces ripped off.   You'll be saying to yourself: "Why the fuck didn't I sell at $7800?

BTC at $8033 ...

Banksters will be able to naked short bitcoins and drive the price down like they do with precious metals.

Gonna be interesting when it collapses $1000's in a few minutes and you didn't even take profits on one.  You'll disappear... never to post in this thread again.

Never forget Mr Anabolic - First .$01, then $1, then $10, then $100, then $1000, then $10,000, then ... you get it yet???

[Grape Ape]

Gib - are there ways to take riskier positions on bitcoin rising than just "buying" bitcoin and taking the price increase/decrease?  Like options or such?

[gib]

Gib - are there ways to take riskier positions on bitcoin rising than just "buying" bitcoin and taking the price increase/decrease?  Like options or such?

Yes indeed. Some exchanges offer leverage of 100:1. Koreans, Chinese and Japanese are placing huge leveraged bets at the moment. Some make huge amounts of money - some get entirely wiped out.

If you want leverage you could of course also get a loan, borrow against an existing asset like a house, etc. However, I would not recommend that. We cannot be certain where BTC will go. And even if we do take a view that it might hit 100K or 1m, we don't know for sure the time horizon. So, for those reasons, I would be inclined just to buy and hodl. If you buy just 1 coin, and a certain scenario does pan out, you will be hedged, and set for life. (Provided you store that coin securely!)

[gib]

As Bitcoin approaches $10,000 I thought it would be nice to revisit some GetBig history from the archives...

BTC at 381...

BTC at $576...

BTC at $4319...

BTC at $6750...  

BTC at $8033 ...

Never forget Mr Anabolic - First .$01, then $1, then $10, then $100, then $1000, then $10,000, then ... you get it yet???

Oh, and whilst I am at it, for the record...

GOLD - which Mr Anabolic advocated as "the only asset to buy" back in 2013, is actually pretty much the same now that is was then - $1400 in 2013 and $1400 now, 6 years later..

And the DOW JONES, which Mr Anabolic predicted would "collapse" in 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, and 2019 has not, to date occurred. In fact US equities are very close to all time highs, and will likely hit new highs on any Fed rate reduction (or possibly also on a finalized trade deal with China). To quote a very famous investor "Far more money has been lost worrying about the possibility of markets declining, than money actually lost in markets declining".

So, there you have it. A GetBig self-owning proven and stored for ever on GetBig.

PS - Mr A - we know you are still reading this - man up, come back and admit you were wrong. And then go and buy a bitcoin (if you haven't already secretly done so...)

 

[Wiggs]

Wiggs u back in the market?

Yes, I've been since Feb. XRP and BTC. I may get some Etherium as well but that's it.

[tres_taco_combo]

Great. Not everyone is cut out for a sales job. Do you get ongoing income from each mortgage written?

its a hustle x 100.

i do not get revenue from closed loans over time. i get a % of the loan amount which is usually 1-2% of the loan volume.

[polychronopolous]

Yes, I've been since Feb. XRP and BTC. I may get some Etherium as well but that's it.

Can't wait to see Warren Buffett's glasses fog over when BTC passes 20k.

[a_pupil]

I'll be bumping this thread during the dump phase like gib is doing now