Bitcoin could hit $1,000,000

[slickwillis]

How do you avoid not getting taxed when you cash out and deposit the money in your bank account? I think the bank sends a red flag to the IRS for deposits of $10,000 or more..

Sorry mate you're going to have to pay taxes if you plan on cashing and staying legal.

[hackerwacker]

but who the f*ck buys them from you and what do they with it?

sell it to other people apparently

[BrahSafari]

as opposed to depositing cash into some random guys account, or wiring money overseas to russia hoping they deliver? lmao this whole thing is sketch as fuk

Use a trusted exchange and yes there is risk. Trying to make a turnover of 1500% means there's gonna be risk involved

[pyrosive]

My limit was $104 for credit card on virwox. That only got me 0.077 BTC -_-

Paypal is 390 now

[MultiMediaWill]

Sorry mate you're going to have to pay taxes if you plan on cashing and staying legal.

Anyone know what percent the us govt taxes on profits from trading?

[Broteins]

but who the f*ck buys them from you and what do they with it?

Greater fools buy them from you and they in turn hope to sell them to even greater fools.

[jemnutz]

What makes you think LTC will sustain? PPC and NMC are showing signs that they are approaching their limit it would be foolish to invest in them now. Same with LTC.

It has a billion dollar cap, second to the scene. It has strong grounds to survive a bubble and not be completely liquidated. PPC and NMC to a lesser extent already have a strong market cap share as well. I think FTC will double in a few days, but it will have a hard time going 4x over into a 100 million cap.

Im more heavily invested into long term. Ive day traded all last week and made 2k into 50grand thru all the pump and dumps. Ive diversified most of my funds for the long haul. But, I'm keeping a close eye during the holidays to liquidate and rebuy into BTC, and the top5.

[BrahSafari]

sell it to other people apparently

Don't get the wrong idea the whole premise is to hope that there will be someone willing to pay more for a coin than you did. It is undoubtedly a bubble and someone WILL end up holding a bunch of worthless coins in the end. Just hope it isn't you

[pyrosive]

It has a billion dollar cap, second to the scene. It has strong grounds to survive a bubble and not be completely liquidated. PPC and NMC to a lesser extent already have a strong market cap share as well. I think FTC will double in a few days, but it will have a hard time going 4x over into a 100 million cap.

Im more heavily invested into long term. Ive day traded all last week and made 2k into 50grand thru all the pump and dumps. Ive diversified most of my funds for the long haul. But, I'm keeping a close eye during the holidays to liquidate and rebuy into BTC, and the top5.

When you dump LTC, what do you do send it to BTC? Then just cash out from there. Pump and dump is a crazy way to do it, wish I had enough LTC to get in on that.

[BrahSafari]

It has a billion dollar cap, second to the scene. It has strong grounds to survive a bubble and not be completely liquidated. PPC and NMC to a lesser extent already have a strong market cap share as well. I think FTC will double in a few days, but it will have a hard time going 4x over into a 100 million cap.

Im more heavily invested into long term. Ive day traded all last week and made 2k into 50grand thru all the pump and dumps. Ive diversified most of my funds for the long haul. But, I'm keeping a close eye during the holidays to liquidate and rebuy into BTC, and the top5.

Curious as to why you think holding the top 5 in a long term position is a good strategy. I sincerely doubt that any but bitcoin will gain significant long game traction.

[BrahSafari]

When you dump LTC, what do you do send it to BTC? Then just cash out from there. Pump and dump is a crazy way to do it, wish I had enough LTC to get in on that.

Pump and dump is the ONLY way to do it in this market. Long term positions are a bad idea, particularly with the alt currencies.

[WontStopLifting]

wow this is new and exciting

[jemnutz]

When you dump LTC, what do you do send it to BTC? Then just cash out from there. Pump and dump is a crazy way to do it, wish I had enough LTC to get in on that.

Essentially or cash, Ive basically been riding most waves and re-buying in during the crash. I've gotten lucky and observed most of the buy ins for ltc, nmc and nvc and re bought during good crashes.

For the most part they've all but stabilized. I missed out big time on btc back in april-june. Bought in at sub 500 btc.

[pyrosive]

Pump and dump is the ONLY way to do it in this market. Long term positions are a bad idea, particularly with the alt currencies.

Measly reps for explaining the process? I thought you needed a lot of coins to make any influence? Or do you just wait for others to do it and ride that?

[montecarlo]

How do you avoid not getting taxed when you cash out and deposit the money in your bank account?

lol thats illegal in b4 irs

[trufflepigg]

The thing that bothers me the most is that it's not really backed by anything, so there's nothing to keep the value from crashing at an insane rate. Unless, as someone who hasn't figured out the ins and outs of bitcoins, there's something I'm overlooking.

I understand it can be a great short term invest to double or even 10x your money. But I just don't see how it would be viable to keep for a couple of weeks, or even months/years.

good thing the USD is backed by something, since the bitcoin is pegged to that currency

[BrahSafari]

Measly reps for explaining the process? I thought you needed a lot of coins to make any influence? Or do you just wait for others to do it and ride that?

Simple: buy low, sell high. Either wait for a semi-reputable coin to crash (i.e bitcoin) and buy. Then sell when it is high enough for your risk tolerance (there are ways to judge a weakening bubble but these are complex and less reliable with cryptocurrency). Or, find an already low trading coin with a substantial enough market cap and growing trend and buy. When it's value increases to a point that you believe a crash is imminent dump it. Again, the risk is that you cannot be certain of an imminent crash but the reward potential is staggering. Good luck.

[jemnutz]

Curious as to why you think holding the top 5 in a long term position is a good strategy. I sincerely doubt that any but bitcoin will gain significant long game traction.

I'm in only in 2g's, I'm sorta gambling for the long term just feel better that its 50grand spread out to minimize my losses on any alt coin making it, while at the same time keeping an eye out to cash out. All of them are still trending up so I dont feel bad not having time to day trade anymore since im no longer on leave.


Bitcoin is very strong, but after the bubble busts, other coins can become stronger by their technical advantage to bitcoin. Some are faster transaction time, more anonymous, more easy to regulate, each as its advantage to the future of cryptocurrency.

[MultiMediaWill]

@xiangbtc (https://twitter.com/xiangbtc) is acutally predicting FTC to fall over the next few days and XPM to rise.

[montecarlo]

lol there are multiple micers in troll box on btce right now lullzzzzzzzzzzzzzzzzzz

[standon23]

I was scammed selling on ebay mother****er got his money back after I sent the coins **** that

[jemnutz]

You made 50k from this ****?

Yeah, I specifically rode, LTC, NMC and NVC from 7, 2, and 7 to their highs at different times. I managed to put most of my fund into them while they soared up. Then i pumped and dumped ppc, xpm and trc. Keeping an eye on ftc.

[BrahSafari]

@xiangbtc (https://twitter.com/xiangbtc) is acutally predicting FTC to fall over the next few days and XPM to rise.

Can't really trust anyone's predictions, he may very well have strong positions in XPM and is using propaganda to increase its value. That is the classic pump and dump scheme used in penny stock markets.

[BrahSafari]

I was scammed selling on ebay mother****er got his money back after I sent the coins **** that

Never accept PayPal or credit card for coins, they can be charged back. Only take cash, cash equivalent (visa gift cards, MoneyPak), or cash bank drafts. Sorry bro

[MultiMediaWill]

Can't really trust anyone's predictions, he may very well have strong positions in XPM and is using propaganda to increase its value. That is the classic pump and dump scheme used in penny stock markets.

True, but he has predicted all the major crashes and spikes so far. Thinking about getting in XPM now since tomorrow a huge seller is planning on buying like 5,000 coins worth of it.

[MultiMediaWill]

I was scammed selling on ebay mother****er got his money back after I sent the coins **** that

sorry m8. how much did u lose>

[Cfitz717]

I'm going to buy btc and ltc 2mrw, but I'm srsly confused as to how to know when to sell and buy. I know buy low, sell high, but that's it. Now I'm looking at all the other ones like XPM and have no idea why I should consider buying some. What makes btc, ltc, xpm different?

[pyrosive]

Simple: buy low, sell high. Either wait for a semi-reputable coin to crash (i.e bitcoin) and buy. Then sell when it is high enough for your risk tolerance (there are ways to judge a weakening bubble but these are complex and less reliable with cryptocurrency). Or, find an already low trading coin with a substantial enough market cap and growing trend and buy. When it's value increases to a point that you believe a crash is imminent dump it. Again, the risk is that you cannot be certain of an imminent crash but the reward potential is staggering. Good luck.

Sounds risky haha. I should move some LTC back to btc-e though and give this a whirl. Looks like LTC is dropping a bit now. Thanks for help

[jemnutz]

True, but he has predicted all the major crashes and spikes so far. Thinking about getting in XPM now since tomorrow a huge seller is planning on buying like 5,000 coins worth of it.

He likely helped manipulate them.

[Enty]

I was scammed selling on ebay mother****er got his money back after I sent the coins **** that

edit-nvm