When is it time to leave crypto? - Weak hands and broken hearts....

Should I get out of crypto?


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kiwifarms.net
What would someone with a load of bitcoin do though, if you are a holder who has held since the start and had a considerable amount.

To me it seems pretty difficult to just jump out of bitcoin when you have a load of it, given trading on platforms have limits, and you have to worry about tax in your own counties. Like capital gains tax.

I find it hard to understand how it is capital gains tax because basically its just a currency and if you swap it for whatever it's worth now, that just happens to be the price it is, why is it a profit?

I've been wanting to get out for ages, but I've only done little bits over the years.

Most trades I've done have been profitable but I just know the second I sell it would jump in price, I think I have about 6/10 success rate in my trades, but I've not done many, and the exchange I'm on has fees now which is shitty. I want to find a exchange with no fees but it seems like they don't exist anymore.

I just wish I followed the news more because I seem to always miss the signs, I'm not a day trader but happen to have some bitcoin.... and I guess bitcoin cash and the others but I never got round to splitting it up.. Suppose I should.
 
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twozero

yo Trex lets swag this kid up
kiwifarms.net
I've been wanting to get out for ages, but I've only done little bits over the years.
Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.
 
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Begemot

You can't run away if the shadow is yours
kiwifarms.net
Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.
I've been considering it but I might leave it there as a bet upon coins I still have plaintive hope in like Fantom & Powerledger.
 

3119967d0c

رنج آمریکایی ها
True & Honest Fan
kiwifarms.net
Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.
Part of the problem for guys in the States, if they have that BTC on a US exchange account or a foreign one that reports trades to the FTC/IRS, even if they just pull it out into a proper wallet that is likely going to be picked up on by the federal scum in the reporting that they get. They might flag that as an event that needs explaining on your tax return, or alternatively just use some software to see if there is a transfer out of that wallet and hassle you when that happens. Gay

When you don't have to use it to get the good blotters from an old commune in Oregon.

Let's be real it has been and always will be a narco currency.
Thanks, drug addicts, for propping up the crypto market for people who need to use it for other sorts of transactions.
 

Hollywood Hulk Hogan

nWo 4 LyFe
True & Honest Fan
kiwifarms.net
Investing in crypto for getting rich is a pyramid scheme. Ask yourself this: what value does this coin have over other coins? Will this coin ever be used for buying/selling over bitcoin?

The answer is 99.99999% of the time "this coin has no value over other coins other than people might start buying it for some reason. this coin has no advantage over bitcoin". So investing in it to gain money is fucking stupid. Put your money in a stock index fund instead.
 

Pixy Misa

Your local evil magical girl.
kiwifarms.net
Honestly, with the rise of electronic wallets, bitcoin and the others failed to replace real money as currency or stopping banks. I mean people that want anonymity do use it, but let's be real, most people just want to buy low and to sell it at high prices. Sounds familiar?

In other words, what you really want is to invest in stocks, and that's where you should be spending your money. There was a window of opportunity when the prices skyrocketed and a lot of people that sold high and got rich due to an e-gold rush, but now people know better so I doubt it will happen again at that rate.


In both, you can lose all your money and fall to a scam. But, at least with stocks, you have the right to be informed about whatever a publicly-traded company traded company does before you buy and maybe even sue. With bitcoin, the system is designed for anonymity so you're alone if you get screwed.
 
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Begemot

You can't run away if the shadow is yours
kiwifarms.net
Thanks for the advice guys. I might keep the money there just before getting it out is looking rather tiresome. There's only 1 Bitcoin ATM in the city that allows withdrawals and when I went there I wasn't sure it was still there.
 
The answer is 99.99999% of the time "this coin has no value over other coins other than people might start buying it for some reason. this coin has no advantage over bitcoin". So investing in it to gain money is fucking stupid. Put your money in a stock index fund instead.
It’s true that most coins are intrinsically worthless and just worth anything through hype but investing in a stock index fund to gain money is fucking stupid. It’s gonna take a decade to double your money at 7%.

All of the other good investment opportunities are impossible for small amounts of capital or simply legislated away from poorfags in the west. Crypto is the only legal investment opportunities you have with the possibility to 10x your money in a year.
 
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Hollywood Hulk Hogan

nWo 4 LyFe
True & Honest Fan
kiwifarms.net
It’s true that most coins are intrinsically worthless and just worth anything through hype but investing in a stock index fund to gain money is fucking stupid. It’s gonna take a decade to double your money at 7%.

All of the other good investment opportunities are impossible for small amounts of capital or simply legislated away from poorfags in the west. Crypto is the only legal investment opportunities you have with the possibility to 10x your money in a year.
Right but they also have a 95% chance of losing everything. Why the hell would you take that chance?

Every time Bitcoin has 'crashed' it has crashed to a new 'high' as the video alludes to.

10 year long pyramid scheme, and still going up. Hmmmmmmm
Bitcoin hasn't gotten back to its $19k high from two years ago.
 
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