Cryptocurrency in Free Fall

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watchnerd
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Oh, and he played the environment card.

Although, the same critique applies to Doge.
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danbdzs
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Re: Cryptocurrency in Free Fall

Post by danbdzs »

watchnerd wrote: Wed May 12, 2021 5:16 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Oh, and he played the environment card.

Although, the same critique applies to Doge.
I'm intrigued by the last phrase,

"We are also looking at other cryptocurrencies that use < 1% of bitcoin's energy/transaction"

This is just bananas
chinchin
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Re: Cryptocurrency in Free Fall

Post by chinchin »

danbdzs wrote: Wed May 12, 2021 5:15 pm
chinchin wrote: Wed May 12, 2021 5:11 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Bullish for ETH?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Apparently PoS will cut ETH energy use by 99%.
https://spectrum.ieee.org/computing/net ... 99-percent
not financial advice
decapod10
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

danbdzs wrote: Wed May 12, 2021 5:19 pm
watchnerd wrote: Wed May 12, 2021 5:16 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Oh, and he played the environment card.

Although, the same critique applies to Doge.
I'm intrigued by the last phrase,

"We are also looking at other cryptocurrencies that use < 1% of bitcoin's energy/transaction"

This is just bananas
Generally speaking, cryptocurrencies that run on Proof of Stake will be more energy efficient than Proof of Work.

Proof of Stake chains include: Polkadot, Tezos, Cardano probably the big ones

Proof of Work chains: Bitcoin, Dogecoin, Litecoin, Ethereum

Ethereum plans to switch to PoS but as of now is proof of work.
Kookaburra
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Re: Cryptocurrency in Free Fall

Post by Kookaburra »

Haha, this is awesome.
txhill
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Re: Cryptocurrency in Free Fall

Post by txhill »

chinchin wrote: Wed May 12, 2021 5:22 pm
danbdzs wrote: Wed May 12, 2021 5:15 pm
chinchin wrote: Wed May 12, 2021 5:11 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Bullish for ETH?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Apparently PoS will cut ETH energy use by 99%.
https://spectrum.ieee.org/computing/net ... 99-percent
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
txhill
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Re: Cryptocurrency in Free Fall

Post by txhill »

txhill wrote: Wed May 12, 2021 5:38 pm
chinchin wrote: Wed May 12, 2021 5:22 pm
danbdzs wrote: Wed May 12, 2021 5:15 pm
chinchin wrote: Wed May 12, 2021 5:11 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Bullish for ETH?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Apparently PoS will cut ETH energy use by 99%.
https://spectrum.ieee.org/computing/net ... 99-percent
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

txhill wrote: Wed May 12, 2021 5:48 pm
txhill wrote: Wed May 12, 2021 5:38 pm
chinchin wrote: Wed May 12, 2021 5:22 pm
danbdzs wrote: Wed May 12, 2021 5:15 pm
chinchin wrote: Wed May 12, 2021 5:11 pm

Bullish for ETH?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Apparently PoS will cut ETH energy use by 99%.
https://spectrum.ieee.org/computing/net ... 99-percent
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
Did he say something about Nano?
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Re: Cryptocurrency in Free Fall

Post by txhill »

decapod10 wrote: Wed May 12, 2021 6:00 pm
txhill wrote: Wed May 12, 2021 5:48 pm
txhill wrote: Wed May 12, 2021 5:38 pm
chinchin wrote: Wed May 12, 2021 5:22 pm
danbdzs wrote: Wed May 12, 2021 5:15 pm

Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Apparently PoS will cut ETH energy use by 99%.
https://spectrum.ieee.org/computing/net ... 99-percent
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
Did he say something about Nano?
No--I assume Nano's price movement is because it is one of the greener cryptos currently. I remain bullish on ETH though because it will move to PoS, and no plans to sell my BTC anyway. I don't have much of it and I think it'll stick around even without adoption by ESG companies.
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watchnerd
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

Just too much personality drama in crypto.

VB, Elon....it makes me tired.

I'm going to go play with my chainsaw.
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txhill
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Re: Cryptocurrency in Free Fall

Post by txhill »

watchnerd wrote: Wed May 12, 2021 6:10 pm Just too much personality drama in crypto.

VB, Elon....it makes me tired.

I'm going to go play with my chainsaw.
Yeah it is exhausting haha. I cannot imagine being a daytrader in this space... 24/7/365, have to read tweets constantly...

Everything is crashing now post-Elon tweet, not just bitcoin!
flyfishers83
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Re: Cryptocurrency in Free Fall

Post by flyfishers83 »

That's gotta be the most expensive tweet ever, right? If you look at market cap lost over the span of two hours which tracks back to one tweet, those are big numbers. Surely that will raise some eyebrows.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

I just doubled my investment on the drop. Now up to $1000!!!!!
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watchnerd
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

Why is my AAVE a safe haven during all this drama?

It's still up by 11%.

And my CRV is up 7%, too.
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

watchnerd wrote: Wed May 12, 2021 8:10 pm Why is my AAVE a safe haven during all this drama?

It's still up by 11%.

And my CRV is up 7%, too.
AAVE got a boost from that tweet about the banks before the Elon tweet, it was up 30%+ I think. It's down significantly from the time of the Elon tweet until now, but it's still up if you compare to 24 hours ago.
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Re: Cryptocurrency in Free Fall

Post by txhill »

Three big tweets today in crypto land: (1) Aave founder tweet about institutional interest, (2) Vitalik crushing dog meme coins, and (3) Elon tweet about BTC... phew! Looks like the May 12, 2021 crypto bear market is almost over though.
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Re: Cryptocurrency in Free Fall

Post by F150HD »

Never Mind: Elon Musk Says Tesla Won't Accept Bitcoin For Car Purchases Any More

Tesla is executing a rapid U-turn on Bitcoin.

Months after Tesla embraced Bitcoin, CEO Elon Musk said on Wednesday the auto maker would no longer accept the cryptocurrency for car purchases due to its environmental impact.
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

My portfolio hasn't been this exciting since 1997.
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Re: Cryptocurrency in Free Fall

Post by Gadget »

For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?

He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.

Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
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Re: Cryptocurrency in Free Fall

Post by dziuniek »

Down bigly today, time to check reddit for the tears.
Get rich or die tryin'
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Re: Cryptocurrency in Free Fall

Post by fingoals »

F150HD wrote: Wed May 12, 2021 8:23 pm Never Mind: Elon Musk Says Tesla Won't Accept Bitcoin For Car Purchases Any More

Tesla is executing a rapid U-turn on Bitcoin.

Months after Tesla embraced Bitcoin, CEO Elon Musk said on Wednesday the auto maker would no longer accept the cryptocurrency for car purchases due to its environmental impact.
Mr. Musk's (should we start calling him Mr. Flip-Flop?) rationale for this decision is ridiculous: "rapidly increasing use of fossil fuels for Bitcoin mining and transactions". Seriously? Firstly, one of the most significant current trends in PoW crypto mining is using green energy sources (especially, hydro power). Secondly, the use of fossil fuels for Bitcoin mining at the time of making a decision to buy $1.5B worth of BTC and promoting it was enormous, anyway. What was he thinking then?
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Re: Cryptocurrency in Free Fall

Post by JHU ALmuni »

watchnerd wrote: Wed May 12, 2021 6:10 pm Just too much personality drama in crypto.

VB, Elon....it makes me tired.

I'm going to go play with my chainsaw.
Same here! Sometimes it helps not to check prices every 2 minutes for a day or two :beer
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Re: Cryptocurrency in Free Fall

Post by vanbogle59 »

Gadget wrote: Wed May 12, 2021 8:28 pm For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?

He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.

Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
When this charity gets their hands on it, are they going to HODL?
If they do, they should be summarily roasted.
If they sell, how is that different than Vitalek selling?
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Re: Cryptocurrency in Free Fall

Post by Marseille07 »

The global crypto market cap is $2.27T, a 10.54% decrease over the last day.
This market just lost 10% in a day :shock:
decapod10
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

Marseille07 wrote: Wed May 12, 2021 10:09 pm
The global crypto market cap is $2.27T, a 10.54% decrease over the last day.
This market just lost 10% in a day :shock:
That's a nothing burger in cryptoland. I've had stuff go down 80% in 10 minutes, lol, though it was just some fun money.
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Re: Cryptocurrency in Free Fall

Post by surfstar »

Do you really want to "invest" in an "asset" that can be manipulated by a tweet, let alone unknown whales? :oops:
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Re: Cryptocurrency in Free Fall

Post by Prahasaurus »

danbdzs wrote: Wed May 12, 2021 5:15 pm
chinchin wrote: Wed May 12, 2021 5:11 pm
danbdzs wrote: Wed May 12, 2021 5:09 pm Tesla no longer accepts Bitcoin as payment!

https://twitter.com/elonmusk/status/139 ... 43203?s=20


That was a quick change!
Bullish for ETH?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Ethereum is moving away from Proof of Work (mining). This has been a long (multi-year) process, and should be completed end of this year. I view this as very, very bullish for ETH, and would not be surprised to see ETH's market cap surpass Bitcoin's by year end.
Last edited by Prahasaurus on Wed May 12, 2021 11:11 pm, edited 1 time in total.
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decapod10
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

vanbogle59 wrote: Wed May 12, 2021 10:03 pm
Gadget wrote: Wed May 12, 2021 8:28 pm For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?

He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.

Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
When this charity gets their hands on it, are they going to HODL?
If they do, they should be summarily roasted.
If they sell, how is that different than Vitalek selling?
The charity has said they will "sell slowly over time". As of right now, they have not sold any $SHIB. They still hold 50,693,797,849,889.8 $SHIB
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Re: Cryptocurrency in Free Fall

Post by cogito »

Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
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Re: Cryptocurrency in Free Fall

Post by Tinkerer-in-Chief »

I think so, yes.

It’s not materially different from Joe Blogs gifting you $10,000. If you then donate that money to charity it should still be tax-deductible.

And gifts are not taxable to the giftee according to the IRS. They are taxable to the giftor, subject to certain well-known gift tax exemptions.
This space intentionally left blank.
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

decapod10 wrote: Wed May 12, 2021 11:36 pm
watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

watchnerd wrote: Wed May 12, 2021 11:37 pm
decapod10 wrote: Wed May 12, 2021 11:36 pm
watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
Yes that would be correct in my estimation...

Edit to add: Actually apparently not. If you donate stock to a charity, you do not owe capital gains on it, I presume it would be the same here but not 100% sure.

Looks like it applies to crypto as well:

https://www.coindesk.com/charity-crypto-tax-payments
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Re: Cryptocurrency in Free Fall

Post by Tinkerer-in-Chief »

watchnerd wrote: Wed May 12, 2021 11:37 pm
decapod10 wrote: Wed May 12, 2021 11:36 pm
watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
I don’t think so. My analogy was a little off. It’s more like he’s donated shares of appreciated stock. Anyway, we’re beginning to move off-topic.
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

surfstar wrote: Wed May 12, 2021 10:45 pm Do you really want to "invest" in an "asset" that can be manipulated by a tweet, let alone unknown whales? :oops:
Yeah, for being 'supportive' of the sector, his douche move damaged credibility of the very thing he's trying to push support.

For being a genius, he can be a real idiot.
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

decapod10 wrote: Wed May 12, 2021 11:42 pm
watchnerd wrote: Wed May 12, 2021 11:37 pm
decapod10 wrote: Wed May 12, 2021 11:36 pm
watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
Yes that would be correct in my estimation...

Edit to add: Actually apparently not. If you donate stock to a charity, you do not owe capital gains on it, I presume it would be the same here but not 100% sure.

Looks like it applies to crypto as well:

https://www.coindesk.com/charity-crypto-tax-payments
I'll keep that in mind when I want to donate my crypto gajillions that I get for holding all the craptastic alt coins in my DIY index.
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Re: Cryptocurrency in Free Fall

Post by vanbogle59 »

decapod10 wrote: Wed May 12, 2021 11:01 pm The charity has said they will "sell slowly over time". As of right now, they have not sold any $SHIB. They still hold 50,693,797,849,889.8 $SHIB
Um. I thought he made the donation to help with a great emergency.
When the world is this confusing....
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Re: Cryptocurrency in Free Fall

Post by runninginvestor »

watchnerd wrote: Wed May 12, 2021 11:33 pm
cogito wrote: Wed May 12, 2021 11:20 pm Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
Could be a form of insider giving. It typically benefits if you think there will be a large down move in a security (you can give to charity, itemize the gift to secure the benefit; instead of selling on any insider knowledge which raises SEC flags; so not only do you avoid the SEC, you avoid the drop and still get a benefit by securing the tax benefits at a pre drop price).
But if he held the security after the gift, he would still have to pay taxes on the gift from another source. This way he can just write it off by passing on the gift.

This case isn't exactly insider giving but may be adjacent,
Lots of newer research on it:
https://papers.ssrn.com/sol3/papers.cfm ... id=3795537
https://news.umich.edu/insider-giving-l ... d-harmful/
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Re: Cryptocurrency in Free Fall

Post by LadyGeek »

I removed an off-topic post. As a reminder,see: General Etiquette
Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
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Re: Cryptocurrency in Free Fall

Post by decapod10 »

JBTX wrote: Sun May 16, 2021 2:49 pm My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
Elon giveth, Elon taketh away, lol. At least if ETH continues to crash it will provide a nice TLH opportunity.
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Re: Cryptocurrency in Free Fall

Post by txhill »

decapod10 wrote: Sun May 16, 2021 3:01 pm
JBTX wrote: Sun May 16, 2021 2:49 pm My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
Elon giveth, Elon taketh away, lol. At least if ETH continues to crash it will provide a nice TLH opportunity.
I thought I bought the dip yesterday :)
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Re: Cryptocurrency in Free Fall

Post by JBTX »

txhill wrote: Sun May 16, 2021 3:06 pm
decapod10 wrote: Sun May 16, 2021 3:01 pm
JBTX wrote: Sun May 16, 2021 2:49 pm My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
Elon giveth, Elon taketh away, lol. At least if ETH continues to crash it will provide a nice TLH opportunity.
I thought I bought the dip yesterday :)
I thought I bought the dip last week but it keeps on dipping!! :oops:

If I was a serious investor I'd probably buy more. But I'm not so I likely won't.
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Re: Cryptocurrency in Free Fall

Post by xraygoggles »

day traders' delight
Simplicity is the key to brilliance - Vti & chill.
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Re: Cryptocurrency in Free Fall

Post by txhill »

JBTX wrote: Sun May 16, 2021 3:09 pm
txhill wrote: Sun May 16, 2021 3:06 pm
decapod10 wrote: Sun May 16, 2021 3:01 pm
JBTX wrote: Sun May 16, 2021 2:49 pm My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
Elon giveth, Elon taketh away, lol. At least if ETH continues to crash it will provide a nice TLH opportunity.
I thought I bought the dip yesterday :)
I thought I bought the dip last week but it keeps on dipping!! :oops:

If I was a serious investor I'd probably buy more. But I'm not so I likely won't.
I'm still planning on buying more ETH over time but the total meltdown is pretty funny to watch on Twitter. This is a pretty good argument for keeping the stock markets closed on weekends...
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Re: Cryptocurrency in Free Fall

Post by fanmail »

BTC is 31% off of its ATH
ETH is 22% off of its ATH
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

JBTX wrote: Sun May 16, 2021 2:49 pm My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000. :oops: :annoyed :annoyed
I'm more diversified than that, and my ADA holdings have certainly helped, but my total exposure is 100x+ of that.

The volatility is not for the faint of heart.
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watchnerd
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

fanmail wrote: Sun May 16, 2021 4:34 pm BTC is 31% off of its ATH
ETH is 22% off of its ATH
There is a huge amount of derivative flows right now.

Interesting times.
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Re: Cryptocurrency in Free Fall

Post by nisiprius »

Elon Musk:

May 12th, 2021: "Tesla will not be selling any bitcoin."

May 16th, 2021: Bitcoin Dumps After Musk Fails to Deny that Tesla Has Sold Or May Sell All Its BTC Holdings.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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