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Are members invested in Bitcoin/crypto?

Walrus
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Wryfox Wryfox

Ha ha it does seem like that sometimes but I think it was last month or the month before there was a glitch in the charts and one of my crypto accounts was saying I had 100’s of millions of dollars. I think I posted it but for a quarter of a second I thought it might actually be true.
 
Dsloan
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Walrus Walrus
Ha ha it does seem like that sometimes but I think it was last month or the month before there was a glitch in the charts and one of my crypto accounts was saying I had 100’s of millions of dollars. I think I posted it but for a quarter of a second I thought it might actually be true.

Metamask does that to me all the time when I swap networks. One time it displayed a few hundred USDC as a couple hundred ETH. Good thing it corrected itself before I was able to finish my letter of resignation.
 
Walrus
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Wryfox Wryfox
Speaking of which Tesla reports tomorrow right? Or is it Thursday? They are expecting a 3billion dollar quarter which (if it happens) would bring the PE to 76. Still a high flyer but it was this time last year the PE was in the 1,000’s. The fed is meeting as well though so it could be a bad day no matter what happens. Raising rates, Ukraine, Covid doing god knows what it’s just not a good time for anything.

Edit the 76 PE calculation was given to me by someone I know who is much more knowledgeable than I but I didn’t do any research just going by what he said. I’m seeing Teslas current PE at 299 so I guess it’s possible but that sounds a little too substantial a move to me but I am far from an analyst or even intelligent
Edited:
 
Wryfox
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Walrus Walrus
Speaking of which Tesla reports tomorrow right? Or is it Thursday? They are expecting a 3billion dollar quarter which (if it happens) would bring the PE to 76. Still a high flyer but it was this time last year the PE was in the 1,000’s. The fed is meeting as well though so it could be a bad day no matter what happens. Raising rates, Ukraine, Covid doing god knows what it’s just not a good time for anything.

Edit the 76 PE calculation was given to me by someone I know who is much more knowledgeable than I but I didn’t do any research just going by what he said. I’m seeing Teslas current PE at 299 so I guess it’s possible but that sounds a little too substantial a move to me but I am far from an analyst or even intelligent

Tesla is a long play to the moon, my man.

Speaking of Muskie, he offered to eat a happy meal on TV if McDonalds would accept Dogecoin. Expert grade trolling.
 
Walrus
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I was getting nervous if you look at the updated tax form one of the first questions they have you check off is if you have or had any involvement in any crypto during the tax year. I got into crypto prior to any tax laws regarding its possession were set so I haven’t had to worry then I just HODL for years so I didn’t have to worry but last year I had fun trading some shitcoins and it’s very easy to lose track of what the hec you did as you can literally do that during a coffee break and then move on through your day. I was very concerned about figuring out exactly what I did but I was able to sit down and figure out how to track my actions which resulted in a 26 page pdf which almost gave me a heart attack. After reviewing it I find it’s not too bad. Most of the 26 pages is just staking rewards which for some reason they calculate daily and it appears you do not have to pay taxes on those until you take physical possession on them which I have not done yet. It’s a mere pittance anyway as some of the stuff I forgot I had and it’s literally “dust” I left in a wallet. So I am ok I am going to calculate what they want on add 10 or twenty bucks but damn that was scary for like ten minutes. I have no problem admitting I am deathly afraid of the IRS. They know what you owe but they make you figure it out anyway. They should just send us a bill.
 
Twocats
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Walrus Walrus
I was getting nervous if you look at the updated tax form one of the first questions they have you check off is if you have or had any involvement in any crypto during the tax year. I got into crypto prior to any tax laws regarding its possession were set so I haven’t had to worry then I just HODL for years so I didn’t have to worry but last year I had fun trading some shitcoins and it’s very easy to lose track of what the hec you did as you can literally do that during a coffee break and then move on through your day. I was very concerned about figuring out exactly what I did but I was able to sit down and figure out how to track my actions which resulted in a 26 page pdf which almost gave me a heart attack. After reviewing it I find it’s not too bad. Most of the 26 pages is just staking rewards which for some reason they calculate daily and it appears you do not have to pay taxes on those until you take physical possession on them which I have not done yet. It’s a mere pittance anyway as some of the stuff I forgot I had and it’s literally “dust” I left in a wallet. So I am ok I am going to calculate what they want on add 10 or twenty bucks but damn that was scary for like ten minutes. I have no problem admitting I am deathly afraid of the IRS. They know what you owe but they make you figure it out anyway. They should just send us a bill.
Here in Luxembourg the government does not recognise crypto so depending on who you speak to its not a requirement to declare it while others say it is, very grey indeed.
 
Walrus
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Twocats Twocats
Here in Luxembourg the government does not recognise crypto so depending on who you speak to its not a requirement to declare it while others say it is, very grey indeed.
It is going to be a bit confusing here (US) although the taxable question is answered there is a court case currently making its way through the system on staking rewards but in my case the amount really doesn’t add to much so I may just pay as if it were taxable as the laws are currently ambiguous unless you have a spare room in Luxembourg I can hide out in for a while.
 
Twocats
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Walrus Walrus
It is going to be a bit confusing here (US) although the taxable question is answered there is a court case currently making its way through the system on staking rewards but in my case the amount really doesn’t add to much so I may just pay as if it were taxable as the laws are currently ambiguous unless you have a spare room in Luxembourg I can hide out in for a while.
You would not be the first person to hide out here. We have many corporations and HNW individuals all resident here.
 
Walrus
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Twocats Twocats
You would not be the first person to hide out here. We have many corporations and HNW individuals all resident here.
I have an acquaintance who is now a HNI who hightailed it to Portugal as they also have loose crypto tax laws. He got into BTC a few years before I did and in the end added several commas and 0’s to his net worth. I seem to recall me telling him he was “crazy” for going all in on what looked like a risky fad at the time. Well I am still in the same place and he’s traveling the world doing whatever people with a lot of commas do. He Carried his net worth on a thumb drive across many borders.
 
Twocats
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Walrus Walrus
I have an acquaintance who is now a HNI who hightailed it to Portugal as they also have loose crypto tax laws. He got into BTC a few years before I did and in the end added several commas and 0’s to his net worth. I seem to recall me telling him he was “crazy” for going all in on what looked like a risky fad at the time. Well I am still in the same place and he’s traveling the world doing whatever people with a lot of commas do. He Carried his net worth on a thumb drive across many borders.
We are still early adopters, less than 1% are using crypto right now. 2022 will see some big advances for us. My plan is to go into stable coins in November this year as I have a feeling early 2023 will see the bears mauling them market and I want to buy the dip.

Here in DisneyLux we have Amazon, Apple, Microsoft and PayPal all in a teeny tiny little glass building. The EU hates it but the government loves it. I really hope we leave the EU and we can go back to secret and numbered bank accounts.
 
Mitka
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321Only 321Only
Out of curiosity, what is the forums view on BTC?
Yea I have sold everything i own, pawned my house and wife to buy crypto😁
 
Walrus
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Mitka Mitka
Yea I have sold everything i own, pawned my house and wife to buy crypto😁
Good for you we call that a major yolo
 
Omegafanman
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Interesting to compare Bitcoin and Gold now sadly we are entering a full on crisis today - crypto seems to behave more like stocks?
.
 
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Ree
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Omegafanman Omegafanman
Interesting to compare Bitcoin and Gold now sadly we are entering a full on crisis today - crypto seems to behave more like stocks?
.
Indeed BTC behaves like one of the tech stocks these days.
 
Omegafanman
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Ree Ree
Indeed BTC behaves like one of the tech stocks these days.

I have never fully grasped it all but have taken the plunge (well a small toe in the water) with a Fintech ETF (ticker Koin) .... will see how that goes.
 
Walrus
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Omegafanman Omegafanman
I have never fully grasped it all but have taken the plunge (well a small toe in the water) with a Fintech ETF (ticker Koin) .... will see how that goes.
Ah good lock dude so that coin prob tied to Defi which may give you some interesting options but I’m not familiar with it I’ll look it up. Yeah crypto taking a whacking but the entire world market is getting clobbered with these recent events. It certainly sucks to see your crypto/stocks down but when you put in perspective and realize a country has bombs falling on it and it’s populace is suffering kind of stops the complaining. It’s odd a country is being invaded and my country isn’t doing it. “The market hates uncertainty” as they say and these are uncertain times. I’m kind of at a loss of words TBH it’s amazing we have cohabitated the world so long but just can’t figure out a way to work things out without resorting to blowing things up. It’s a sad state of affairs really I send out a prayer/good karma to all those in harms way
 
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