Biden coming after cryptos (@America 1st was right again)

[America 1st]

By popular request (especially @ttyh cuz I love that guy!)

 

[ttyh]

Perfect. Much love to you too, sir.

 

[Chief_Trojan]

 

[CadetHawk]

Alrighty! Perfect opportunity for me too see if any of the brilliant minds here can help. What does this mean and how do I fix it. I have roughly $45 in my btc wallet and tried to make a purchase for $25. Are the fees more than the purchase?

 

[America 1st]

@MortgageHorn
@Jayhox
@JordanPetersHorn
@Cyberty

Y'all can't say I didn't tag you in.

 

[Cincinattus91]

Alrighty! Perfect opportunity for me too see if any of the brilliant minds here can help. What does this mean and how do I fix it. I have roughly $45 in my btc wallet and tried to make a purchase for $25. Are the fees more than the purchase?

Many exchanges have bumped up the minimum amount of BTC purchased, sold, sent to complete the transaction

 

[Cincinattus91]

Any DIVI, MasterNode ppl?

 

[MortgageHorn]

My holdings:

ADA
HBAR
ATOM
ETH

I like a bunch more and will be buying more on this dip.

Who is holding what and why do you like it?

 

[Cyberty]

Not sure why I was included ITT. I am a Non-Coiner.

My opinion: Crypto coins are just a confidence game who’s value is public. As the public disclosed value decreases or increases, their are buyers and sellers. The only value in any crypto is in its ability to be a value exchange. This value is directly controlled by who will exchange cyrpto for real currency.

Crypto is not an investment. Nothing like an equity. It not a business creating products. It’s only utility is that of a medium of exchange with extremely high volatility. And confidence.

I have played the craps tables and roulette, but it’s just for fun.

My only advice would be make sure you sell a bit of your crypto to insure that there is a path for you to exchange for real dollars that can be spent on mortgage, gas, food, etc. Otherwise, your digital currency is as valuable as a level 120 dark elf on WOW.

Any deposits over $10k to your bank are reported to the IRS. How do you show a cost basis on a crypto purchase and sell on your tax return. If you think that the IRS is not focused on crypto, you are naive.

Nothing is real until you have the cash in your hand.

 

[Crich73]

My holdings:

ADA
HBAR
ATOM
ETH

I like a bunch more and will be buying more on this dip.

Who is holding what and why do you like it?

Right now I have

Btc, biggest percentage around 35%
Link, around 30%
Eth, around 15%
Zrx, around 10%
Xlm, around 10%



I was on binance but as we know assets froze in US.
I had several coins there.

Omg,
Hbar,
Lto,
Srm,
Matic,
Ceb
Xrp

 

[America 1st]

Not sure why I was included ITT. I am a Non-Coiner.

My opinion: Crypto coins are just a confidence game who’s value is public. As the public disclosed value decreases or increases, their are buyers and sellers. The only value in any crypto is in its ability to be a value exchange. This value is directly controlled by who will exchange cyrpto for real currency.

Crypto is not an investment. Nothing like an equity. It not a business creating products. It’s only utility is that of a medium of exchange with extremely high volatility. And confidence.

I have played the craps tables and roulette, but it’s just for fun.

My only advice would be make sure you sell a bit of your crypto to insure that there is a path for you to exchange for real dollars that can be spent on mortgage, gas, food, etc. Otherwise, your digital currency is as valuable as a level 120 dark elf on WOW.

Any deposits over $10k to your bank are reported to the IRS. How do you show a cost basis on a crypto purchase and sell on your tax return. If you think that the IRS is not focused on crypto, you are naive.

Nothing is real until you have the cash in your hand.

Just a poster I saw comment in dancing.

Good thoughts tho!

 

[America 1st]

@Hoppo

Tagging you here since you said something in dancing.

To your point tho event 'fiat' is based on resources. Petro, gold, silver, or the goods and services involved in an economy are just a few examples.

 

[JordanPetersHorn]

In for later.

Good way to think of Crypto or Coin by the way is like a movie on Netflix. It’s distributed to everyone in the same form, has a common thread and history and plot so we can discuss it and agree on certain points

That’s just a good way I’ve heard it been explained for a layman just getting started

 

[America 1st]

@TTUcamper

Just tagging you in here in case you wanna keep discussing.

 

[America 1st]

 

[JordanPetersHorn]

Not sure why I was included ITT. I am a Non-Coiner.

My opinion: Crypto coins are just a confidence game who’s value is public. As the public disclosed value decreases or increases, their are buyers and sellers. The only value in any crypto is in its ability to be a value exchange. This value is directly controlled by who will exchange cyrpto for real currency.

Crypto is not an investment. Nothing like an equity. It not a business creating products. It’s only utility is that of a medium of exchange with extremely high volatility. And confidence.

I have played the craps tables and roulette, but it’s just for fun.

My only advice would be make sure you sell a bit of your crypto to insure that there is a path for you to exchange for real dollars that can be spent on mortgage, gas, food, etc. Otherwise, your digital currency is as valuable as a level 120 dark elf on WOW.

Any deposits over $10k to your bank are reported to the IRS. How do you show a cost basis on a crypto purchase and sell on your tax return. If you think that the IRS is not focused on crypto, you are naive.

Nothing is real until you have the cash in your hand.

You’re forgetting the utility of insulation from government fuckery and the general fraud of centralized currencies but I don’t really disagree with u at all here

 

[America 1st]

You’re forgetting the utility of insulation from government fuckery and the general fraud of centralized currencies but I don’t really disagree with u at all here

This has already proven not true. Just one example.

How The US Government Handles Its Massive Stash Of Bitcoins

The U.S. government is among the largest holder of bitcoins. How does it handle its secret stash?

www.investopedia.com

Also it's not the currencies you have a problem with but the central banks that issues currencies.

Remove the central banks and currencies have a chance to return to their best form.

 

[JordanPetersHorn]

This has already proven not true. Just one example.

How The US Government Handles Its Massive Stash Of Bitcoins

The U.S. government is among the largest holder of bitcoins. How does it handle its secret stash?

www.investopedia.com

Also it's not the currencies you have a problem with but the central banks that issues currencies.

Remove the central banks and currencies have a chance to return to their best form.

That’s not a good example since it looked like the dude just lost his keys in the first place which is why they can’t account for those coins

https://quillette.com/2021/02/21/can-governments-stop-bitcoin/

Here’s a more comprehensive Article about why Gov can’t stop it

 

[America 1st]

That’s not a good example since it looked like the dude just lost his keys in the first place which is why they can’t account for those coins

https://quillette.com/2021/02/21/can-governments-stop-bitcoin/

Here’s a more comprehensive Article about why Gov can’t stop it

Your article seems to suggest there would be many easy ways to drop it like a hot potato.

I think we are at that agree to disagree phase but I appreciate the article and all the back and forth we've had!

 

[JordanPetersHorn]

Your article seems to suggest there would be many easy ways to drop it like a hot potato.

I think we are at that agree to disagree phase but I appreciate the article and all the back and forth we've had!

Then you can’t read correctly

 

[America 1st]

Then you can’t read correctly

It's that yankee public school education holding me back again

 

[quickfeet]

I think a lot of people are failing to see how deep the IRS has already got it's hands into crypto. There is going to be massive tax revenue from short term capital gains taxes on crypto trades.

 

[JordanPetersHorn]

I think a lot of people are failing to see how deep the IRS has already got it's hands into crypto. There is going to be massive tax revenue from short term capital gains taxes on crypto trades.

That’s why they’re leaning more toward integration of crypto than the pure expulsion of it. More money to be gained and a lot easier in the short term

 

[America 1st]

You do understand that TRUST is a pillar of Block-Chain - You can't do fuckery with it - it's immutable.

The fact that you have yet to grasp this fact is shocking and not shocking at the same time.

This simply isn't true.

We've already proven it can be fucked with and is already manipulated in countless ways.

 

[America 1st]

Being immutable isn't even a benefit in most real world applications. Would never want any part of my info put on blockchain (I don't trust government or corporations). All these points hold even more true today.

Eight Reasons To Be Skeptical About Blockchain

The secure distributed ledger technology behind Bitcoin, blockchain has exploded out of the realm of the dubious cryptocurrency into a hype-driven category of its own.

www.forbes.com

Top Disadvantages of Blockchain Technology

Do you want to know about the disadvantages of blockchain technology? If yes, you have come to the right place. Let's dive in! If you are following the

101blockchains.com

 

[JordanPetersHorn]

This simply isn't true.

We've already proven it can be fucked with and is already manipulated in countless ways.

There’s a difference between the coin itself can be fucked with and government doing what they can to stop it

And after reading into it more yesterday you even need to step back on the policing the exchanges point. There are peer to peer exchanges that can be done through tors where the government would have zero way to shut it down

 

[America 1st]

Im trying very hard to follow this. Where does Bitcoins' value come from? How is it mined and found. What is backing the bitcoin?

Tagged you in here so people don't flip out.

Here watch this to start:



Then read my aboves, along with Jordan and Mortgage's posts.

 

[America 1st]

There’s a difference between the coin itself can be fucked with and government doing what they can to stop it

And after reading into it more yesterday you even need to step back on the policing the exchanges point. There are peer to peer exchanges that can be done through tors where the government would have zero way to shut it down

Agree to disagree.

The tors exchange doesn't change anything if whatever crypto you're trading in has no real world application (like can't be converted to money or resources) which is what every government controls and can change in the blink of an eye.

 

[Joe Kings]

Awesome thank you brother.

 

[Cincinattus91]

Is waiving debt and protecting savers possible?

 

[shiv]

I printed out my Coinbase transactions from 2020 today to give to my accountant for taxes - what a mess.

I think we are going to see a whole new field of accounting rapidly take hold: crypto accounting.

 

[America 1st]

@sanfordipa

Tagging you in since you just brought it up in dancing.

The great irony of cryptos is they're even more fiat than "fiat" currencies.

 

[America 1st]

lol

 

[Holly Bomber]

Anyone else double their money on HBAR in the last couple days? The tech is just so far ahead of the other cryptos I just don't see how it isn't at $1 in the near future. If all of the exchanges pick it up I would expect a huge jump.

 

[ttyh]

Sharing a fun crypto story. I got a new phone a few months ago and neglected to consider that I would lose my 2FA connection that I have set up with all of my accounts. I was able to activate new 2FA codes on Gemini, Coinbase and Bittrex fairly easily. I had opened up a Kucoin(South Korean exchange) account to buy DRGN about 3 years ago. They had all of these odd requirements to prove my identity in order to get access to my account again and it took a couple of months to get everything squared away and for them to grant access to me. Logged in this morning for the first time and found that I had more than a half of a BTC that I wasn't expecting. Nice little Friday morning windfall given the current price of BTC.

 

[shiv]

Sharing a fun crypto story. I got a new phone a few months ago and neglected to consider that I would lose my 2FA connection that I have set up with all of my accounts. I was able to activate new 2FA codes on Gemini, Coinbase and Bittrex fairly easily. I had opened up a Kucoin(South Korean exchange) account to buy DRGN about 3 years ago. They had all of these odd requirements to prove my identity in order to get access to my account again and it took a couple of months to get everything squared away and for them to grant access to me. Logged in this morning for the first time and found that I had more than a half of a BTC that I wasn't expecting. Nice little Friday morning windfall given the current price of BTC.

Very nice!

 

[America 1st]

Sharing a fun crypto story. I got a new phone a few months ago and neglected to consider that I would lose my 2FA connection that I have set up with all of my accounts. I was able to activate new 2FA codes on Gemini, Coinbase and Bittrex fairly easily. I had opened up a Kucoin(South Korean exchange) account to buy DRGN about 3 years ago. They had all of these odd requirements to prove my identity in order to get access to my account again and it took a couple of months to get everything squared away and for them to grant access to me. Logged in this morning for the first time and found that I had more than a half of a BTC that I wasn't expecting. Nice little Friday morning windfall given the current price of BTC.

That's tits!

Wish I could find 25k in my proverbial jean pocket lol

You buying the first round now when we get to Vegas?

 

[ttyh]

I will absolutely pick up a round for this whole crew if this thing ends how we want it to.

 

[America 1st]

 

[America 1st]

Fiat.