MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

[Parkerscott]

Looks like crypto.com is lowering interest rates. Had a feeling it would happen.

[johnnycash123]

Hey guys,

Who told you first to buy XTZ 8 months ago as well as RSR at 23 sats. I think that might have been me. Can go through my posts and check



Anyway buy KNC you noobs, that will be the next coin to do super well this year. At least $500mil + market cap. And dont ask me why-do your own research.


I will be back to brag about this call again in 6 months-most likely less

And yes they are all still ****coins, the only two relevant things in this space are BTC and XMR take this however you want.

[johnnycash123]

The only way I can see that happening is if a 'FedCoin/Libra/AppleCoin' gets created by said corporations and is backed by assets with >$1 Trillion of value, and is then listed on CMC. I doubt this on both counts.

If not, it seems you're suggesting an Alt-Coin has more chance of between 30x'ing (ETH) and 500x'ing (XTZ) than Bitcoin has of 6x'ing in the same time period?

I'd caution getting your investment advice from "most normies I talk to", unless you're looking for a strong counter-indicator.

Normies are finished in this market when it comes to trading BTC. They have no say and no idea on where bitcoin is going when and how, and there opinions are close to worthless.

Just ****ing lol he thinks XTZ will beat BTC to 1 trillion bc normies dont like BTC. Noobiest **** i have ever heard.

[johnnycash123]

I agree. I just hope btc dominance continue to fall, so other more useful coins can steer the ship. We are still looking at a btc pump tho, the whales will keep btc floating for a while, and over the next years slowly transfer money from btc over to more useful alts.


Either crypto succeeds or we go back to the stone age, and PM´s, food and guns will be the only forms of payment. There´s many benefits to having a global currency that is controlled by no one. It´s an obvious next step for humanity. There will be one global crypto currency that is recognized by all countries. It´s taking time because no crypto has met all the requirements yet. So, why will a crypto be valued so much in the future? Because it makes sense for the world to agree on it. It´s in the best interest for all parties to agree to use mainly one as the standard.


Congratz to everyone who bought XTZ btw. The more you read about it the more you understand the genius of it. The tech is good and everything, but lately I have been obsessed with the economics. Tezos economics is any economists wet dream.

Nothing is more useful you noob,

Just say what you really mean and what every noob means when they talk about BTC dominance going down so their alts go up. What you really mean is "I will never get rich off bitcoin now that its $9000, so its a useless ****coin, but if my alt goes up then i can be rich therefore it is more useful"

You are 2 years to late to the narrative you are trying to push. Even the retards in r/cryptocurrency would speak the same nonsense you did every second post 2 years ago. Now they all know alts are mostly a scam.

[luckynrslevin]

Anyway buy KNC you noobs, that will be the next coin to do super well this year. At least $500mil + market cap. And dont ask me why-do your own research.

chart looks nice, but why didn't you make the call before it went 4x up? also give at least some reasons why it will be doing good

[johnnycash123]

chart looks nice, but why didn't you make the call before it went 4x up? also give at least some reasons why it will be doing good

BC i only decided to come into this thread the first time in 5 months. And i saw that guy spamming XTZ and wanted credit for it.

BC i was attacked by all you idiots for telling ppl to buy it.


This is what stops noobs making money, oh no its gone up 2x its not going up more, oh no its gone up 4x it cant go up more. Just simplify your strategies on BTC and alts and buy when **** is trending IE XTZ LINK AND KNC. Miss the bottom and miss the top and make money on the middle and you will make more money then you can imagine. Every spastic wants to buy the bottom or sell the top and thats the stupidest strategy imaginable.

Do your own research mate. Im not going to find info for you. I only got in at 5900. I did not make 4x or even 2x yet. And dont buy now, wait to KNC at least shows some strength/stabilization after that big top candle/wick.

[Trapstar4.4]

Yeah, I was changing my mind as I was writing that. The token is okey, it doesn´t excite me though in the same way exchange tokens don´t excite me

yeah exchange tokens in a bull run straight fire.

im still wondering why i didnt HODL BNB from back when it was created. i know some people hate CZ and binance, but idgaf im trying to make money and BNB was easy money. probably still is


i actually like kucoin as an exchange. probably my favorite

[PimpMasterC]

I agree with your trading strategy, Johnny. However, the rest of your argument is so dumb, I´m not gonna waste time debating you.
You claiming to be the most successful here is just you guessing. I thought I was the most arrogant person in this thread, but I was wrong.

[Grinners]

I often think about the below thoughts from Nick Szabo, and thought others here might appreciate them:



Some people look at Bitcoins volatility and claim that it can't be a good SoV, but there is much more to what makes a good SoV than the assets volatility alone.

Others cheer on Bitcoins uncorrelated returns, but contradict themselves when deriding Bitcoin over moves with or against other assets. An asset cannot be both uncorrelated, and also move in lock-step/inversely with other assets - Pick one or the other.



As I've said before:

Bitcoin has characteristics that lead me to believe it will become THE Store of Value.

Short term thinkers look to its current volatility and determine their opinion based on this alone.

The opportunity lies in looking at inherent characteristics and extrapolating.

[BigSteve777]

Just got an email from the Australian taxation office, it reckons I disposed of crypto in 2018. Bloody guvment

[jackm7]

Just got an email from the Australian taxation office, it reckons I disposed of crypto in 2018. Bloody guvment

Got this too, now i'm panicking lmao. I didn't keep any records and did 100's of random trades across multiple exchanges back in 2018 so i have absolutely no idea how i'm supposed to report it. Penalty if they audit you can be like 12k+

Help me

[BigSteve777]

Got this too, now i'm panicking lmao. I didn't keep any records and did 100's of random trades across multiple exchanges back in 2018 so i have absolutely no idea how i'm supposed to report it. Penalty if they audit you can be like 12k+

Help me

It's a real day ruiner. They don't even know how we're meant to report it, they just want money. They can't audit everyone...can they? lol

[jackm7]

It's a real day ruiner. They don't even know how we're meant to report it, they just want money. They can't audit everyone...can they? lol

I'm just going to try and spend a few days calculating everything, if it's too hard then i'll just give up and pray they go after a bigger fish

[Contribution05]

Got this too, now i'm panicking lmao. I didn't keep any records and did 100's of random trades across multiple exchanges back in 2018 so i have absolutely no idea how i'm supposed to report it. Penalty if they audit you can be like 12k+

Help me

Ya i had this issue too, Some of the exchanges went down too and don't exist anymore. I just submitted my transactions from my on/off ramp exchange.

[savageoldman]

I'm just going to try and spend a few days calculating everything, if it's too hard then i'll just give up and pray they go after a bigger fish

I'm also in the same boat however I have not yet received a letter from the ATO.

its ridiculous they want you to pay tax on crypto but their guidelines are not even that clear.

[Mogambo]

Damn sorry to hear that Aussie brahs. Which exchange did you use as a fiat gateway? I regret using Coinbase because they seem to be in bed with the US gov. My assumption being that exchanges with fiat pairings are the ones most likely to divulge customers' information to government authorities because they need to be on their good side.

[Mogambo]

Just got an email from the Australian taxation office, it reckons I disposed of crypto in 2018. Bloody guvment

Why are they going after your 2018 transactions and not last year's?

[Mogambo]

I'm also in the same boat however I have not yet received a letter from the ATO.

its ridiculous they want you to pay tax on crypto but their guidelines are not even that clear.

Fishing expedition. It's difficult for governments to know the extent to which its citizens are involved in digital currencies. Scare people into voluntarily giving up the information.

[Mogambo]

Ya i had this issue too, Some of the exchanges went down too and don't exist anymore. I just submitted my transactions from my on/off ramp exchange.

You got audited or you submitted as part of tax return filing?

[jackm7]

this is what the email said:





I'm trying to find all my data now, hard as ****

Anybody know of any good free software?
Trying to use cointracking right now but not having much luck

[Gringo12]

Can confirm, also got a letter from the ATO.


I did fck all in 2018 trades wise and none going back to AUD.

How are they gonna do anything with foreign exchanges? I can understand they probably have access to coinspot etc. Did they even have proper tax rules baxk in 2018?


The email also says if we need to report gains OR losses. So maybe we can atleast claim losses on crypto ?

[jackm7]

Can confirm, also got a letter from the ATO.


I did fck all in 2018 trades wise and none going back to AUD.

How are they gonna do anything with foreign exchanges? I can understand they probably have access to coinspot etc. Did they even have proper tax rules baxk in 2018?


The email also says if we need to report gains OR losses. So maybe we can atleast claim losses on crypto ?

You can only claim the losses against other capital gains not your regular taxable income

They can track quite a lot from what i've read, and if there's money or crypto being sent somewhere it's up to you to prove where it went and what happened to it. Basically if they audit you and you haven't reported everything your fked

[DavidL913]

lol how can they check or prove anything?

[Mogambo]

You can only claim the losses against other capital gains not your regular taxable income

They can track quite a lot from what i've read, and if there's money or crypto being sent somewhere it's up to you to prove where it went and what happened to it. Basically if they audit you and you haven't reported everything your fked

I don't see how they can track much of anything. Especially if all they have is a fiat to crypto transaction.

Once you start trading across cryptos and exchanges, those act as a mixer on its own.

Just look at the email they sent. If they really did have the capability to verify/track the information they needed to hold people accountable for every single gain/loss trade, they would not send an email like that out let alone worded so vaguely.

[Gringo12]

Thank God they're starting at 2018 lmao my 2017 was a mess.

I think it's just a fishing expedition. If they're taxing this like normal stocks then u should be able to claim exchange fees right? Coinspot had like 3% fees back in the day

[jackm7]

I don't see how they can track much of anything. Especially if all they have is a fiat to crypto transaction.

Once you start trading across cryptos and exchanges, those act as a mixer on its own.

Just look at the email they sent. If they really did have the capability to verify/track the information they needed to hold people accountable for every single gain/loss trade, they would not send an email like that out let alone worded so vaguely.

Thank God they're starting at 2018 lmao my 2017 was a mess.

I think it's just a fishing expedition. If they're taxing this like normal stocks then u should be able to claim exchange fees right? Coinspot had like 3% fees back in the day

They can see all the data from all the australian exchanges, dates and times/addresses you sent to etc
They'll know money and crypto has been sent to other exchanges and it'll be up to you to come up with all the data proving where it's gone and what happened to it

They won't just look at 2018 either, they'll see trades from 2017 too which sucks. I did most of my trades then

[BigSteve777]

It says the '2018 financial year'. I assumed it meant June 2017 - June 2018, but could it mean june 2018 - june 2019?

Jack M is right, they can see everything if they wanted to, btc markets ratted us out. I sold crypto to AUD in 2017-2018 that's why I thought I got the letter.

[Gringo12]

"We're giving you the chance to fix any mistakes now"

I've never seen a message from the ATO like that before


Let the dice roll

[Mogambo]

They can see all the data from all the australian exchanges, dates and times/addresses you sent to etc
They'll know money and crypto has been sent to other exchanges and it'll be up to you to come up with all the data proving where it's gone and what happened to it

They won't just look at 2018 either, they'll see trades from 2017 too which sucks. I did most of my trades then

Well if that's the case than sucks to be using an Australian exchange.

[jackm7]

"We're giving you the chance to fix any mistakes now"

I've never seen a message from the ATO like that before


Let the dice roll

I don't know if i can take the risk, a 15k+ penalty would **** my life up right now lol