Bitcoins/Litecoins/Virtual Currencies

Tmac

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Rajaah Rajaah this is the kind of excel I use to figure out what I'm gonna pay on short term capital gains "IF I SELL TODAY".

The "Portfolio" cell is just filled out based on what my investment looks like today. Fee to sell is just the amount x your broker's fee. Taxes/short-term capital gains are .25 x return after fees (.15 for federal and .10 for my state).

If I sold my ETH today, I'd pay $600 in taxes and fees, wtf.
 
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Tmac

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DOGE about to overtake Polkadot to become the #7 coin by market cap. Unreal.

I. Just. Don't. Understand.

I was in Doge at $0.04 and made a couple hundred bucks to keep me even during the GME lulz.

Is Doge gonna be one of those currencies that got where it was bc of de facto support rather than anything that made technical sense? LOL.
 
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Lambourne

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I. Just. Don't. Understand.

I was in Doge at $0.04 and made a couple hundred bucks to keep me even during the GME lulz.

Is Doge gonna be one of those currencies that got where it was bc of de facto support rather than anything that made technical sense? LOL.

Fundamentals don't matter. Doge is a functioning cryptocurrency but it has a 120+ billion supply and 600,000 more are made every hour. It's a speculative bubble, people buy it because they think they can sell it for more later. That works in a bubble until it doesn't.

Bitcoin is stalling or even dropping as alts surge because even a highly optimistic $150k price target is only a 2.5x at this time, people are in full on mania chasing those 100x moonshots.
It has all the hallmarks of a market top which is why I got the majority of my money out weeks ago, I'm just throwing shit at a dartboard with some leftover cash now. Right now I'm short ETH.
 

Tmac

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Fundamentals don't matter. Doge is a functioning cryptocurrency but it has a 120+ billion supply and 600,000 more are made every hour. It's a speculative bubble, people buy it because they think they can sell it for more later. That works in a bubble until it doesn't.

Bitcoin is stalling or even dropping as alts surge because even a highly optimistic $150k price target is only a 2.5x at this time, people are in full on mania chasing those 100x moonshots.
It has all the hallmarks of a market top which is why I got the majority of my money out weeks ago, I'm just throwing shit at a dartboard with some leftover cash now. Right now I'm short ETH.

You're saying it's a speculative bubble by speculating. Personally I don't have a strong opinion either way.

As someone w a strong opinion can you share some technicals to support your perspective?
 

Lambourne

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You're saying it's a speculative bubble by speculating. Personally I don't have a strong opinion either way.

As someone w a strong opinion can you share some technicals to support your perspective?

Technicals are looking at potential uses, margins, competitors etc. Like if you were to open a bakery in your street, how many daily customers can you expect, what are your fixed costs, profit margins etc. Nobody does any of that FOMOing into the latest surging coin. I don't either, beyond the basics I listed above which take 20 seconds on Wikipedia to read. Even that was probably more than most buyers did.

If you look at prior bubbles, this has all the hallmarks of one approaching the top. Altcoins mooning left and right, hype all over the media and internet. Literally all of my coworkers are buying crypto again. Same thing I saw in 2017 and I called it a bubble back then too.

Maybe I'm calling it too early, but my spider sense says this is at or near the top. I've made my money this run, not buying in again with substantial money until we see a big drop. Throwing a few hundred bucks into something isn't the same as putting half your life savings into the market.
 

TJT

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I. Just. Don't. Understand.

I was in Doge at $0.04 and made a couple hundred bucks to keep me even during the GME lulz.

Is Doge gonna be one of those currencies that got where it was bc of de facto support rather than anything that made technical sense? LOL.
Get your rational arguments the fuck outta here. My $200 doge coin meme buy is going to net me $10k+ at this rate.
 
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Moglyzoke Moogleman

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Sorry if it's already been brought up or posted but has anyone done research on OMI coin? This was thrown out to me a month or two ago as a get-rich potential coin and after the doge FOMO I am seriously considering it. Currently it's pretty difficult to buy, so I'd be banking that once it becomes more accessible thru RH, Webull, Coinbase, etc, the increased accessibility could be a great turning point? Haven't done a ton of research on it but beginning to today and this weekend.

Cheers!
 

Lambourne

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Considering its $0.40 now you probably should have waited an hour!

Yea it's up 25% from where I sold, however this does seem like juggling a grenade with the pin pulled out. Wonder what else is going to get blown up when this does.
 

TJT

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Yea it's up 25% from where I sold, however this does seem like juggling a grenade with the pin pulled out. Wonder what else is going to get blown up when this does.
I'm only in for $200 from back in October. Don't really care so I'm riding it out.
 

Lambourne

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I still have a few hundred dogecoin that people were handing out for free in 2014. Still got the password too. A times infinity in any case.

It's tanking atm, nice -20% 3 minute candle there.