Crypto

[Flyin6]

I am continuing to invest directly into the crypto market.

After continued study, I see that much like a standard long term savings plan you should have some bedrock stuff. I use Bitcoin for that with a $20's ish current stake. In the past I would have physical gold and silver doing the heavy lifting. And in the total investment plan, I still do hold PM, but like always it just idles along doing little to nothing. It just sits there gradually increasing over time and is, well, boring.

As I increase my knowledge of this crypto thing I am learning behaviors which mimic cask, sometimes do the same as stocks do in similar situations and so forth. There seems to be a connection with the level of fear and uncertainty and the value of the crypto stuff. Guberment prints money, the crypto goes up. Something shaky happens like us printing 2.9T of imaginary money and a lot of savings will pour into crypto.

Then the smart ones like Elon Musk and some big fund managers will suddenly show up with a rail car full of cash and buy up 10% of the market in a single offering and off we go into spiral land in a country called "outtacontrol".

Just like stocks, and IAW some notable bible verses it is a good thing to diversity. Finally I notice that when a new digi-coin shows up for an IPO, the price skyrockets as much as 70,000% in a short time, then collapses into the steady climb or enters a death spiral.

Some are interesting and offer a quiet spot in the universe to park USD. Native Coin, the crypto if the US/Canada Indian nations is like putting gold in Switzerland. Right inside our borders are these independent countries called Indian reservations which are really like their own countries. A million there and you can make a short drive to buy groceries with that crypto and no one knows the better.
Some are trying to change the world. LiteCoin is a leading Crypto that tried to further the idea of decentralizing business and using blockchain technology to eliminate the middle man. They were and are very successful but were limited by some programming language of the time. That trades in the $200 range and has tripled/quadrupled in the past year. Your $5000 is now over $20K thank you berry much.

Then there are the new guys who show up in plaid polyester and say, I have a new take on things and I dare to upset the way we dress. VeCoin is one of those. I own around 3,000 of them. It was like in the hundredths of a cent each...So was Bitcoin once (Lightbulb emoji and a slow drum roll please)

In the same manner as precious metals, if you own silver, chances are you own gold as well. So if you own BitCoin (#1), then you probably own Ethereum (#2) as well. I do, sort of a diversification thing.

Seeing what our government is doing to us and our money, I have cast off because in an approaching gale, it may be better off for you to just motor out into the open ocean than to try and stay alive moored to a pier with everything around you smashing you to bits. Me: Dollars, not so much. Gold "N" silver, ya, sure, some. Crypto: Ya, in big, but with the caveat, I have paid off my farm, cars, kids, wife, mob, well maybe not the mob, but I own a lot os needed stuff free "N" clear, so I can speculate with some bucks that I used to stuff into the mattress to one day be able to buy it all.

You all: Consider my words. The world is changing. Remember when computers and cell phones showed up? Not well received, but some jumped in. Today who doesn't have those things? Answer: Those who are lost in this techno world. That setup is right before you this very second. The player is American dollars and cash. Soon, very soon to be second citizen on its way to the Smithsonian Institute Museum.

[Flyin6]

Here is the last 24 hours...Not a cherry pick, mind you, just the past day:


Top Cryptocurrency Prices
View Trending Charts
#
Name               Price                    Market Cap          Change (24hr)

Bitcoin BTC       $ 57,955.30         $ 1,082.27 B        -0.37%

BitTorrent         $ 0.01130            $ 11.19 B            +38.23%

Ethereum         $ 2,061.11           $ 237.74 B          -1.06%

XRP                 $ 0.6947              $ 69.46 B            +16.82%

TRON               $ 0.1330              $ 13.41 B           +14.07%

WazirX             $ 4.29                  $ 4.24 B             +44.85%

Now look at those results of just a few of the thousands of Crypto currencies. Yea, you can't help to notice that a couple of them made the same return you would pray to actually see in a 401K in five+ years, and they did it overnight! That's the gambling aspect to the thing and demonstrates wild swings. I could look and find a ton of them that had negative returns of about the same.

But look further. Look at the amount of money in play here. That's over $1.5T in just these few currencies. How easy is it to dramatically change that market? Let's say an Elon Musk decided to pull his 1.5Billion out of BitCoin. $1.5B out of a fund nearly 1000 times that value? Ya, just not enough energy to move the thing. Kind of like tossing hand grenades in the reservoir on the back side of the three gorges dam. Little, well, actually, no effect.

I am learning more and more about these monies all the time. And they are monies you know. One could argue that they are not real, like, for example, the US dollar or the Euro or the Greek drachma. But those are only paper or more accurately, just some guarantee by some government. A government which may be solvent, or may not be.

You see it's all just crypto. The difference is that some crypto currencies like the US dollar are under the control of a government and therefore subject to it's behind the door late night deals. This latest batch of monies, the true cryptos have no such control and are likely one of the few things that we can actually own. My 91 acre farm...Which is paid off. Think I actually own it? What if I miss a couple years of taxes on it...Would I still own it or would have it been seized by guys with guns and sold off at their bidding? We know the answer.

No one knows which crypto, nor how much I own! No one except I knows how to get it...Only me. So I actually own it. And as of a couple weeks ago, I can book a trip on Delta to visit Greece, rent my hotel and reserve a car all with using only my crypto. Say it isn't real money? Really?

So the huge leaps in value of the crypto is much about the fear of the people of the world at the moment. They can see their countries, yes, even the USA collapsing around them each day. They want security and they are not finding it in their governments any longer. SO something like this crypto will sweep us up like a tidal wave and will rock the foundations of humanity before it is all over. It is already doing it

I have been developing a portfolio of something currently less than a dozen cryptos. I have more than doubled my money in just the time since December 2020. BitCoin, a couple years was predicted to explode to over $50K by the close of 2021. Well it blew right through that to over $60K and currently trades within a few thousand of that lofty number. I think it will easily eclipse $100K before the new year ball drops.

Predictions on where it stops have been all increasing by every single billionaire investor, except for those who are clearly on the "Big-Bank-inside." All of them call for doom and gloom, and a spectacular collapse. Well, BitCoin has collapsed and failed, now, according to them. It's done it over 350 times and every single time comes back stronger than ever. Personally, I think that during every collapse, those same hypocrites and liars comes in and scoops up a ton of the stuff, along with some normal investors, and away it goes again.

The actual market cap for Bitcoin will never find a top. But in the foreseeable future We some forward looking financiers predict a BitCoin value north of $1,000,000. But even that number is falling away, as that investor raised his prediction to a $3,000,000 BitCoin by 2030.

With my experiment, I also purchased 200 ounces of silver the same week I purchased the crypto. That silver is worth the same amount as I paid for it. Silver is heavily controlled by both big banks and by governments. BitCoin enjoys control from neither.

Draw your own conclusions.

[Flyin6]

...as I continue to learn about this stuff, I am allowing it all to just rest in auto-pilot for awhile.

In keeping with a basic tennant of investing, I have developed a growing and diversified portfolio totaling approximately $40,000.

I currently hold various quantities of:

BitCoin
Bit Coin Cash
Binance Coin
Stellar Lumens
Ethereum
Dash Coin
OMG Network
The Graph
New Cypher
LiteCoin
VE Chain
VeThor Token

Now, that may be an odd sounding lot, however it has a pretty good spread. First it is anchored in BitCoin to add bank vault/gold/government like stability. To that I added BitCoin Cash which is a near cousin, has association with the parent, BTC, and fixes the problems of liquidity that BitCoin will always have. Bitcoin in the beginning was built to replace cash, but with all the security, it might take three hours to spend it on a pack of gum. So it's more like a savings account, but BitCoin cash, transacts easily so it's a go to coin for that reason.

The graph and New Cypher was actually given to me just for taking an online class in crypto and in particular, these coins. I bought OMG just because everyone else was, causing explosive growth. That same thinking applies to VE Thor, which saw something like 132,000% increases since issued.

VE Chain is one of the best protected/easy to spend cryptos and is spreading like poison ivy rash. It is blowing up and has huge gains to make.

LiteCoin is one of the fastest cash replacing currencies there is and is now even accepted and used for taxi cab fares! This Stellar Lumen thing is not actually a money but a transfer mechanism. They have plugged the Stellar software into nearly every financial institution on earth and instantly (1/16th of a second) convert your dollars into lumens, then from lumens into drachma in Greece when you purchase a latte on the beach. Their value is increasing steadily and could easily show a 4X in a single year.

Ethereum which uses "ether" is second to BitCoin and spends like real money, is huge in volume, has a long track record, and is poised to join BTC on a rocket ship to the moon.

All of these are in the hundreds of percent growth per year. Caution, though, on that 40K note I can see 10K swings in value daily, so the thing here, (So sez Don) is to use your cash to double your money. Take out the original investment and go buy you and her a new pair of Clark's. Then you can grow the balance and in just a short time, you will never realize you ever used your money in the first place. I am thinking that a steadfast investor, given another 10 years could buy a new home and car and furnish it with only your earnings.

Thing to pay attention to is what the feds are paying attention to: Capital Gains. So keep the stuff in several different wallets, low key, and without big chucks of change. Switch them up and consider "Monero" the money of the Dark Web. It is completely untraceable. You could make 100,000 in a year there and no one would never know! Read: Not detectable/difficult to tax. You decide for yourself if you rather give Uncle Sugar a third of your earnings so they can give illegal immigrants $15,000 checks for successfully wading the Rio Grande.

[Flyin6]

Anyone following??? Good day to invest...13 May...Market is down

Yesterday the market was way up, and me...Well, I dumped 3,600 more into it. I have the long view, you see. But if I had just waited until today, I'd have realized another 10% gain down the road.

Hindsight...

[JR]

I keep looking at it, guess I could play a little.

How are you buying?

[Flyin6]

Coinbase, either from my smart phone or from my desktop. Both are easy. Have now traded, bought/sold many times

Just like money, only better

[Nate]

When filing taxes this year, it specifically asked if i sold or bought cryptocurrency

[JR]

Thats where I'm thinking. If you keep exchanges under 10k it should NOT set off triggers.

[Flyin6]

Thats where I'm thinking. If you keep exchanges under 10k it should set off triggers.

How would anyone know???
Not done through any bank
Point to point
Secure
There is already an ocean of off the books financial transactions, a veritable ocean...not millions, but billions of transactions.
And
Last night I decided to get right with the IRS, so I sold all my crypto. Decided to just keep my money in a savings account earning a reliable 0.5% interest!

[Flyin6]

When filing taxes this year, it specifically asked if i sold or bought cryptocurrency

Of course Nate!
A huge money source
for taxation
And those taxes are well used these days
Paying for the $6K checks to most of these new illegal ailens is gonna cost a bunch
Buying them health care a bunch more
Oh and processing like a million new court cases, that's not free
Come to think it, the thousands of real criminals who came up along with them will cost something too.
Feds tax everything else, why not your hard earned interest?

Oh, I forgot the increase in the defense budget
to pay for all the soldiers transitioning from one sex to another, there's that!

[stlaser]

https://www.wsj.com/articles/bitcoin-irs-comes-for-crypto-investors-who-havent-paid-their-taxes-11620937095?utm_source=facebook&utm_medium=news_tab&utm_content=algorithm&fb_news_token=yBGdfoOFQrZn2aagBaP9jw%3D%3D.KF4S04gX18WReBbSvgrQCCS3WHUeNeIdETo0xHHYVfVNb4lh7zv2SXk3%2Bi87Lb4cYwEzBgQCZEwFyKDES%2FEykzh3O7o3zhtH0CaewEph3Rj0BAiMtWKqEGogH95qVz9vG6iOKEgP9u8uTJq6GVHGfEk5ukbAkNiEkGABWJWEO1GA4qYD93lG64O4qZSSa%2FyE9aokuWXbwQQD7JFI2T5vg%2B2lX8L%2FHMO1SKaGN62Ee3IIcprlrW6kXGuiMWU2iJqeWjjJoJwwo871MVw5nyOHT1DZSgosf%2Bm9tj4GxOOwapa6dHs%2FQUuLQDPo16Lj4FsTKPha6UsAoxQ2i6rYbtge3w%3D%3D