Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 764414 times)

affeman

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9875 on: November 09, 2023, 01:40:14 AM »
36 now.

This set up should be so obvious to you boys. We are are likely the smartest ones here when it comes to finance. That BTC is about to surge is obvious to me (for reasons I already explained)

Also check out Filecoin if anyone is interested in a true utility token with a project already making money and posed for massive adoption ahead, which, if you are really looking for an "alt" coin, I would consider. (Totally different form Bitcoin -  being a utility token and an unregistered security, but a very interesting and legit project nevertheless which has true potential now being realized.). Good video here - seriously recommend anyone interested take a look and then go and do your own research. The time to buy these things is of course now, well before an "crypto boom".

Are you still telling yourself we are before a "crypto boom"? ;D

U do realize that the surge in price has been flattening out drastically after every single halving to the point, that the next one will barely even affect the BTC price anymore. Get over it, the peak of the hype was 2021, if u want money get a job.... ;D


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9876 on: November 09, 2023, 02:58:48 AM »
Are you still telling yourself we are before a "crypto boom"? ;D

U do realize that the surge in price has been flattening out drastically after every single halving to the point, that the next one will barely even affect the BTC price anymore. Get over it, the peak of the hype was 2021, if u want money get a job.... ;D


Yes, although BITCOIN (not "crypto"), although inevitably there will still be some who try to suck out money from BTC into their "crypto" scams.  We might see a few coins with legitimate prospects rebound hard on the back of a BTC boom - for example, Chainlink, ETH, Uniswap, Filecoin, Aave, but basically I would suggest, and urge anyone, RIGHT NOW, to secure their status in the world as a wholecoiner. BTC is poised to surge to levels that will make current prices seem a blip.

As for getting money, yes you can "get a job" (or even better start your own business), but you need somewhere to defend that money from the fiat Ponzie scheme - that's where Bitcoin comes in.

If you care for you future, you will stack Sats hard, hodl, educate others, and enjoy the ride we are about to have.

affeman

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9877 on: November 09, 2023, 03:00:43 AM »
As for getting money, yes you can "get a job" (or even better start your own business), but you need somewhere to defend that money from the fiat Ponzie scheme - that's where Bitcoin comes in.

The defense worked amazing for those who bought BTC 3 years ago at 60k... ;D (which is actually the majority of most BTC HODLers)

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9878 on: November 09, 2023, 03:32:48 AM »
The defense worked amazing for those who bought BTC 3 years ago at 60k... ;D (which is actually the majority of most BTC HODLers)

Lol, what an idiotic comment.

You are confusing short term volatility, with a long term trend.

Anyone who has bought regularly over time, will be well up in terms of having preserving their economic energy. Further, even those very few people who happened to have bought only once, and with that time being exactly that the very top of the last peak (or any peak before that), will be up on the next cycle.

So if are really trying to make the argument that BTC is not a good defense against fiat devaluation, you are simply a moron who does not understand basic concepts of economics, who has the mindset of a perpetual loser.

I am doing my very best to help you, but there are some people who just don't allow themselves to be helped. You may well be one of those types, although it really is hard to comprehend how anyone can be so stupid. You can lead Getbigger to water...

affeman

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9879 on: November 09, 2023, 04:57:11 AM »
Lol, what an idiotic comment.

You are confusing short term volatility, with a long term trend.

Anyone who has bought regularly over time, will be well up in terms of having preserving their economic energy. Further, even those very few people who happened to have bought only once, and with that time being exactly that the very top of the last peak (or any peak before that), will be up on the next cycle.

So if are really trying to make the argument that BTC is not a good defense against fiat devaluation, you are simply a moron who does not understand basic concepts of economics, who has the mindset of a perpetual loser.

I am doing my very best to help you, but there are some people who just don't allow themselves to be helped. You may well be one of those types, although it really is hard to comprehend how anyone can be so stupid. You can lead Getbigger to water...

Don't worry, at one point you're gonna understand the difference between price and value as well. And I'm afraid you'll learn the hard way ;)

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9880 on: November 09, 2023, 06:06:20 AM »
Don't worry, at one point you're gonna understand the difference between price and value as well. And I'm afraid you'll learn the hard way ;)

Lol, what a fool you are. Your attitude and stubbornness will come back to haunt you. BTC is already 800% since this thread started, outperforming any other asset class over that period. Had you bought when I made my strong buy call back at 25K, you would have been 4x up when it hits 100K. (Please think of me when that happens...

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9881 on: November 09, 2023, 01:55:26 PM »
Woke up and noticed ETH went up to $2,074 today! I guess it punched through the $2,000 barrier again. Nice move!

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9882 on: November 09, 2023, 01:56:20 PM »
Are you still telling yourself we are before a "crypto boom"? ;D

U do realize that the surge in price has been flattening out drastically after every single halving to the point, that the next one will barely even affect the BTC price anymore. Get over it, the peak of the hype was 2021, if u want money get a job.... ;D


Unless the dollar goes caput.

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9883 on: November 09, 2023, 03:21:10 PM »
Ethereum went up today because Blackrock filed for a Spot Ethereum ETF. Ark Invest also has a filing with the SEC for an ETH ETF.

https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-09-2023/card/ether-soars-after-blackrock-files-for-spot-ethereum-etf-LDr6LDXLjnLXjUY3JpbT

Ether Soars After BlackRock Files for Spot Ethereum ETF

The price of ether surged more than 9% Thursday after BlackRock filed paperwork with the Securities and Exchange Commission Thursday for a spot exchange-traded fund based on the cryptocurrency.

Ether was trading at around $2,060 as of 5 p.m. ET, the highest level since April, according to Dow Jones Market Data. The in-house token of the Ethereum blockchain has gained 72% this year.

The ETF would hold the second-largest cryptocurrency as the underlying asset and track its price. Coinbase Global would be the custodian for the fund's ether holdings, according to the filing.

Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9884 on: November 09, 2023, 09:25:36 PM »
Yes, although BITCOIN (not "crypto"), although inevitably there will still be some who try to suck out money from BTC into their "crypto" scams.  We might see a few coins with legitimate prospects rebound hard on the back of a BTC boom - for example, Chainlink, ETH, Uniswap, Filecoin, Aave, but basically I would suggest, and urge anyone, RIGHT NOW, to secure their status in the world as a wholecoiner. BTC is poised to surge to levels that will make current prices seem a blip.

As for getting money, yes you can "get a job" (or even better start your own business), but you need somewhere to defend that money from the fiat Ponzie scheme - that's where Bitcoin comes in.

If you care for you future, you will stack Sats hard, hodl, educate others, and enjoy the ride we are about to have.

This recent boom was on the back of ETH spot ETF news. ETH yield could potentially be a huge draw for boomers

FOMO got me so I'm chasing  :D  Bought my first big tranche of Alts. Celestia TIA at just under $2.5 (at $2.6 now)

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9885 on: November 10, 2023, 03:08:34 AM »
This recent boom was on the back of ETH spot ETF news. ETH yield could potentially be a huge draw for boomers

FOMO got me so I'm chasing  :D  Bought my first big tranche of Alts. Celestia TIA at just under $2.5 (at $2.6 now)
I don't get the negativity surrounding Ethereum. It basically dominates the crypto market. If you ask the average Joe on the street about crypto all they know about is Bitcoin. But that's good for Ethereum because it means you're still early, before peak Ethereum exposure. It will be interesting to see if Ethereum flips Bitcoin in the next bull run - hopefully we don't have WW3 to screw everyone's plans.  ;D 8)


French

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9886 on: November 10, 2023, 03:29:47 AM »
Solana will replace Ethereum.
All layers in one Blockchain
Faster, no fees, decentralized, Web3 leader, payment, transactions, smart contracts, NFT champions..

Soon at 80 then 120, 360, 690, 1400 $
$

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9887 on: November 10, 2023, 03:41:50 AM »
Solana will replace Ethereum.
All layers in one Blockchain
Faster, no fees, decentralized, Web3 leader, payment, transactions, smart contracts, NFT champions..

Soon at 80 then 120, 360, 690, 1400 $
Everything in one layer is a recipe for a disaster. The scalability comes with multiple chains, and it increases decentralization. Soon you'll be able to do a transaction on Ethereum and the cheapest transaction price will be available, without you having to choose which chain the transaction is routed through. I've also heard that Ethereum, Solana, Bitcoin etc. will become more interoperable. I'll have to get up to date with all these developments.

And cheap Ethereum transactions won't destroy the deflation narrative of Ethereum. Because the number of transactions would just increase by a lot more. The goal is to scale Ethereum to be able to support 500 million users, and then beyond that. And one blockchain is not the solution for everything. Solana will have it's place also, as will Bitcoin, obviously. I might get into Solana next year. I am not doing any transactions this year for tax reasons.

French

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9888 on: November 10, 2023, 08:13:05 AM »
Buy from a hot wallet with your keys in your hard wallet via a third-party payment provider like MoonPay.
Once you become a millionaire, convert it to a stable coin, USD, Baht.
Once you're mentally ready, move to Thailand to live the good life until you die. Open a Thai account, take a Cypriot passport..
$

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9889 on: November 10, 2023, 11:19:47 AM »
Unless the dollar goes caput.

...which we know it is, slowly but surely, each and every second...

https://www.usdebtclock.org/


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9890 on: November 10, 2023, 11:43:38 AM »
I will address a few comments here in a single post.

This recent boom was on the back of ETH spot ETF news. ETH yield could potentially be a huge draw for boomers

FOMO got me so I'm chasing  :D  Bought my first big tranche of Alts. Celestia TIA at just under $2.5 (at $2.6 now)

Wrong. Here is what you need to understand. The entire "crypto market" revolves around BITCOIN. Bitcoin is the center of the universe, and every alt, shitcoin, crypto etc revolves around its gravitational pull. When Bitcoin rises, the inevitable pattern of idiots thinking they can find an alt to "invest in" (or better yet launch an new alt to scam other suckers).

So, to be very clear, the by far the largest factor of ETH or an alt rising right now, is due to Bitcoin's rise. 

As for why Bitcoin is rising, I explained why this would happen here, exactly one month ago:

Well, I'm not much of a fan of technical indicators, but it would pretty obvious that on basic technical alone we are on an upward phase and through the last bear cycle.

Beyond that there are many major drivers at play which are super bullish for BTC demand.

-Conflict in various parts of the world leading to a demand for assets which are fixed in supply, easily divisible, and transferable across boarders.

-Inflation in many parts of the world, devaluing fiat currencies at a noticeable rate.

-Increasing education and awareness among our citizens as to why a global, uncensorable, uncorruptable, secure, digital, store of value and money, perfectly limited in supply, and decentralized, is so so important into the future we are heading.
 
-Numerous US BTC ETF's poised for approval for some of the largest funds in the world, which will result in hundreds of Billions of fund inflows into this asset class.

-Increasing understand and regulatory and technical and philosophical and economic understanding as to the difference betwen Bitcoin and "cryptos".

- The 2024 halvening due in around 6 months.

-The increasingly obviousness that the US will (and has almost no choice but to) embark on greater money printing than ever before.

-Ai increasingly making use of BTC as a base layer store of value.

-Countries globally looking to increase income taxes.

...all of which, when you combine with even just a slight increase of demand for this very unique limited in supply  asset class, will lead to a MASSIVE upward movement once FOMO takes hold (which will gradually build up and then abruptly take hold and explode in a positive loop upward price cycle).

Oh, and major financial players coming out strongly in support of Bitcoin as the supreme asset class, different and better than all others. Here is a good example, an interview with Fidelity.

i=0vzC9-RkOR5HXg5N

Since that post by the way, BTC has risen from 26K, to 37K. Needless to say, I nailed it.

Regarding this statement:

Ethereum ... basically dominates the crypto market. If you ask the average Joe on the street about crypto all they know about is Bitcoin. But that's good for Ethereum because it means you're still early, before peak Ethereum exposure. It will be interesting to see if Ethereum flips Bitcoin in the next bull run - hopefully we don't have WW3 to screw everyone's plans.  ;D 8)


You need to understand that NOTHING can "flip Bitcoin". There is only one Bitcoin, so its really a non-sensical statement you have made. It blows my mind that despite this very long thread you still don't seem to "get it".

As for the "average Joe on the street", (or in my case more likely a nice dinner conversation with older and relatively smart by not overly informed people), what I find is that they are typically try to respond with something that sounds intelligent such as "oh well, I think Ethereum is better than Bitcoin because ... it's smart contracts". Again in reality totally showing their ignorance.

Everything in one layer is a recipe for a disaster. The scalability comes with multiple chains, and it increases decentralization. Soon you'll be able to do a transaction on Ethereum and the cheapest transaction price will be available, without you having to choose which chain the transaction is routed through. I've also heard that Ethereum, Solana, Bitcoin etc. will become more interoperable. I'll have to get up to date with all these developments.


Correct, on your comment regarding the problems of everything on one layer. Try and do all these things in a single protocol, and (just like if you were to mix up all your ingredients in the fridge at once to make a nice meal), you end up with a pile of shit.

As for interoperable, yes, Eth and Solana etc will all obviously have to interact with BTC as the ultimate global store of value base-layer.

I am not doing any transactions this year for tax reasons.

With all options available in the world today, why on earth would you have structured yourself so that you are paying tax? There is currently zero reason why anyone today should be paying tax, unless they want to.
 
Buy from a hot wallet with your keys in your hard wallet via a third-party payment provider like MoonPay.
Once you become a millionaire, convert it to a stable coin, USD, Baht.
Once you're mentally ready, move to Thailand to live the good life until you die. Open a Thai account, take a Cypriot passport..

Kind of, except they last thing you should be doing is converting BTC to fiat, ever, except perhaps in very small amounts as needed to spend in a particular country. The rest of your suggestions here are fine.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9891 on: November 10, 2023, 02:04:36 PM »
I will address a few comments here in a single post.

Wrong. Here is what you need to understand. The entire "crypto market" revolves around BITCOIN. Bitcoin is the center of the universe, and every alt, shitcoin, crypto etc revolves around its gravitational pull. When Bitcoin rises, the inevitable pattern of idiots thinking they can find an alt to "invest in" (or better yet launch an new alt to scam other suckers).

So, to be very clear, the by far the largest factor of ETH or an alt rising right now, is due to Bitcoin's rise. 


We are talking different timelines. You're talking the last 30 days and I'm talking about the last 48 hours.

ETH pumped on spot ETF news and pulled up ETH trading pairs with it. I was watching it happen in real time as I have nothing better to do. Tracked it from the source breaking the news to the masses and then the corresponding price increases.

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9892 on: November 10, 2023, 03:35:34 PM »
We are talking different timelines. You're talking the last 30 days and I'm talking about the last 48 hours.

ETH pumped on spot ETF news and pulled up ETH trading pairs with it. I was watching it happen in real time as I have nothing better to do. Tracked it from the source breaking the news to the masses and then the corresponding price increases.
He is a BTC Maxi. Nothing will change his mind, even if Ethereum flips Bitcoin's market cap.

Look at the 3 and 5 year returns.

3-YEARS:

BTC  =  +143,94%
ETH  =  +369.19%

5-YEARS:
BTC  =  +355.55%
ETH  =  +347.48%

These numbers can change at any point as we move along the timeline. Look at BNB and Solana! If you bought BNB 3 years ago or 5 years ago your portfolio would have outperformed BTC and ETH by a huge amount! We're talking about a 4.5 - 5.5X over BTC gains! It also outperformed ETH by a huge margin. I have BNB and bought it at $8 and converted some cryptos to BNB over the years. Just wish I bought a lot more when it was that cheap. But tribalism and my ETH tunnel vision prevented that. Yes, some of us also suffer from ETH Maximalism!  ;D

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9893 on: November 10, 2023, 03:42:13 PM »
You need to understand that NOTHING can "flip Bitcoin". There is only one Bitcoin, so its really a non-sensical statement you have made. It blows my mind that despite this very long thread you still don't seem to "get it".
---------------
As for the "average Joe on the street", (or in my case more likely a nice dinner conversation with older and relatively smart by not overly informed people), what I find is that they are typically try to respond with something that sounds intelligent such as "oh well, I think Ethereum is better than Bitcoin because ... it's smart contracts". Again in reality totally showing their ignorance.
---------------
With all options available in the world today, why on earth would you have structured yourself so that you are paying tax? There is currently zero reason why anyone today should be paying tax, unless they want to.
 
We'll see about the flippening. Nothing is set in stone in the Universe. Maybe it does not happen - let's see.

Most people I talk to don't even know about Ethereum. My neighbor bought Bitcoin. I know an older lady that bought BTC at the peak in 2017. A lot of people that know about ETH can't spell Ethereum either. It's usually Etherium.

Regarding taxes. I do deduct business expenses. But I keep it legit and it is not wise to try and cheat the IRS. If I was not married and had no connections where I live, then sure I would move to a tax haven. But some of us have families or work connections grounding us where we are. If you live in the USA then you will have to pay taxes. Unless you want the IRS up your ass.


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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9894 on: November 10, 2023, 03:44:48 PM »
obsidian, do you trade forex on the regular?
I got into trading futures but only on the ES presently as Im still in learning stages
A super good guy gifted me Jigsaw Trading software and holy, what a huge stepup from watching candles and price action

anyways, Im just curious if you are trading forex or anything else

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9895 on: November 10, 2023, 04:15:19 PM »
obsidian, do you trade forex on the regular?
I got into trading futures but only on the ES presently as Im still in learning stages
A super good guy gifted me Jigsaw Trading software and holy, what a huge stepup from watching candles and price action

anyways, Im just curious if you are trading forex or anything else
I am not trading currently because it becomes a tax issue. And I already have enough taxable income fees for 2023 that I don't want to increase via more capital gains transactions. I'll look into that though in 2024. Right now I am content with earning staking yields via Ethereum, Cardano, and BNB. Hopefully I can get some Solana in 2024 - if cash flow will allow it. Or I might have to sell some crypto (and deal with capital gains), to get some Solana exposure. I keep saying I need to get some BTC but am never happy with the ratios and when it does turn favorably I don't make a move either - lol!

I traded a lot in 2017, 2018 & 2020 and spent a lot of time retracing my steps via online tax services to get my cost basis in order. But it was amazing how I could retrace it. I did some weird transactions. For example, I was mining Ethereum on a pool where I needed more hash power. So I swapped some Ethereum and ZCash for BTC via Coinbase / Binance and personal wallets to ShapeShift and ultimately NiceHash. On NiceHash I bought hashing power via BTC - they only accepted Bitcoin. I was able to retrace all those steps, because all the transactions are transparent. A benefit governments surely can appreciate.  There are of course privacy coins that can help conceal transactions - Monero and ZCash for example.

Binance.US btw worked great for me in 2020/2021. Made some nice house money via ETH / Doge swaps.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9896 on: November 11, 2023, 01:48:46 AM »
We are talking different timelines. You're talking the last 30 days and I'm talking about the last 48 hours.

ETH pumped on spot ETF news and pulled up ETH trading pairs with it. I was watching it happen in real time as I have nothing better to do. Tracked it from the source breaking the news to the masses and then the corresponding price increases.

Yes, you are correct there. However the key point I was making is that the key factor in the short and medium term for any alt, is inflows into BTC. That will be the vast determinant of how any alt performs. For Eth, unlikely any sport ETF would be approved any time soon, but yes an application (which in theory anyone can file) can have influence on sentiment, especially if from a large reputable name in finance.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9897 on: November 11, 2023, 02:16:51 AM »
He is a BTC Maxi. Nothing will change his mind, even if Ethereum flips Bitcoin's market cap.

Look at the 3 and 5 year returns.

3-YEARS:

BTC  =  +143,94%
ETH  =  +369.19%

5-YEARS:
BTC  =  +355.55%
ETH  =  +347.48%

These numbers can change at any point as we move along the timeline. Look at BNB and Solana! If you bought BNB 3 years ago or 5 years ago your portfolio would have outperformed BTC and ETH by a huge amount! We're talking about a 4.5 - 5.5X over BTC gains! It also outperformed ETH by a huge margin. I have BNB and bought it at $8 and converted some cryptos to BNB over the years. Just wish I bought a lot more when it was that cheap. But tribalism and my ETH tunnel vision prevented that. Yes, some of us also suffer from ETH Maximalism!  ;D

I wish you would read what I posted in this thread so that I do not need to repeat myself.

I could create an alt in 30 seconds, issue 1 Billion tokens, sell one to you for $100, and Boom we got a new alt with a 100 Billion dollar market cap.

BTC maximalism does not mean that you cannot consider securities, whether registered or unregistered, as viable investments. Indeed, if you understood this basic formula, then you could actually make an educated calculation as to the value of many types of alts:

T(1)      1
___  X ___
V(t)      S(t)

However, what BTC is, and what you need to understand, is that BTC is something entirely different from all other alts. Compared to ETH in particular, you need to understand that ETH does not operate on a proof of work model. Further, it is not decentralized. Further, some coins were pre-mined and retained by the issuers. And it was never intended or created to be a store of value as its sole and fundamental function - rather Eth is a token designed to used as a payment for work done supporting its blockchain. You are comparing and conflating 2 entirely different types of technologies.

The vast vast influence on the price of Eth is simply sentiment spillover from Bitcoin, not based on any fundamental valuation based on tokenomics. If you really want an "alt" who's value truly is supported by fundamentals, look into Filecoin. Trust me, you will thank me big time if you buy/hodl Filecoin. But either way, I suggest anyone really needs understand why they would buy anything, beyond just "oh well I think it will go up". Unless you are really just gambling for fun, literally akin to punting at a casino, stick to Bitcoin. Again, you will thank me in the long term.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9898 on: November 11, 2023, 02:24:48 AM »

Regarding taxes. I do deduct business expenses. But I keep it legit and it is not wise to try and cheat the IRS. If I was not married and had no connections where I live, then sure I would move to a tax haven. But some of us have families or work connections grounding us where we are. If you live in the USA then you will have to pay taxes. Unless you want the IRS up your ass.

Yes, that is the decision we all have to make. Bear in mind, you are being taxed not just on your business profits, but also indirectly via the depreciation of the USD. And the irony of course is that BTC is your defense against that, which you seem worried about buying due to tax implications.

Its very easy to just buy BTC peer to peer, with the IRS being none the wiser. I would strongly urge you to consider doing this.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9899 on: November 11, 2023, 10:32:08 AM »
 8)
$