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Campfire Ranger
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Ok, so who has cashed out? You put how much in, and took how much out?
Profits?
Feel free to brag if applicable. So who has pocketed profits? Sold enough last week to pay off 2 small amounts left on heavy equipment loans which puts the company and us personally debt free. Using the rest of what I cashed out to head to Florida next week. I’ll be buying the next sizable dip, and firmly believe there’s massive upside and potential to make $$ if you have the stomach for the volatility. Didn’t do as well as I have on the NVDA I bought last August for $480+/- That’s around $900/share now. Ok, It’s real and gains can be taken in cash, Nice.. It still scares me (ignorance) and why do i feel I’ve missed the boat? At this point I have to pass. Easy button for me was setting up a Coinbase account, then a seperate bank account with only my name on it, or if not make sure the coin base account is registered exactly like your bank account (middle initial or full name etc.) deposit cash into account, buy whatever crypto asset you’re interested in, when it goes up and you’re ready to sell, cash out and it’s back in my bank account in less than 24hrs available for use There’s nothing hard or scary to it. Currency is dead, no one is going to want your gold in trade for food etc…until they figure out how to control it, BTC and others are the best thing that’s happened for freedom in the last 100 years. We can finally have our monetary system back if we embrace it. Minimum initial investment? I would think that’s a personal decision. One man’s play money is another man’s life savings. I would invest whatever you’re perfectly comfortable losing all of. Just like the stock market.
Last edited by jackmountain; 03/23/24.
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OP
Campfire Ranger
Joined: Feb 2013
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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I’ll rephrase that, Is Bitcoin like a mutual fund?
Some mutual funds have a minimum initial buy in, others have no required minimum initial investment.
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Campfire Regular
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Campfire Regular
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so if you have bitcoin, is your real bank for transfers "off shore" and how do you spend it if it is?
Last edited by richj; 03/23/24.
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Campfire Outfitter
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Alternative money cannot be allowed. There is a reason our fiat currency which is actually an IOU states clearly that it is legal tender for ALL debts public and private. When the time comes BitCoin can be outlawed and its attempted use can come with a prison sentence and huge fine.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Campfire Tracker
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so if you have bitcoin, is your real bank for transfers "off shore" and how do you spend it if it is? Bitcoin can be instantly converted to most any form of cash, cryptocurrency, or gold if you so prefer. More and more merchants are accepting BitPay so you can make purchases based on the current rate without exchanging into cash.
Si Vis Pacem, Para Bellum
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Campfire Tracker
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Campfire Tracker
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Alternative money cannot be allowed. There is a reason our fiat currency which is actually an IOU states clearly that it is legal tender for ALL debts public and private. When the time comes BitCoin can be outlawed and its attempted use can come with a prison sentence and huge fine. That is certainly true in the US, however, there are countries where you can still open a cryptocurrency account without a US tax ID. In the early days, it was easy to open without a US tax ID. Now it is much more difficult. You can also establish an international trust and open an account, however, establishing an international trust isn't free. And there there are third parties who will set up an account. Perfectly safe as you hold the crypto key.
Last edited by STRSWilson; 03/23/24.
Si Vis Pacem, Para Bellum
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Joined: Dec 2013
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Campfire Ranger
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Campfire Ranger
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL Very much so. I would much rather have no alternative to our privately controlled fiat currency that can be/is manipulated and devalued.
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Joined: Dec 2013
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Campfire Ranger
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Campfire Ranger
Joined: Dec 2013
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Alternative money cannot be allowed. There is a reason our fiat currency which is actually an IOU states clearly that it is legal tender for ALL debts public and private. When the time comes BitCoin can be outlawed and its attempted use can come with a prison sentence and huge fine. And when it gets to that point, then there’s a very real chance that we’d already passed the point that we were forced to take up arms and revolt for a myriad of other transgressions they’d unleashed upon us. Until then, if there’s a system of commerce using a currency not controlled by our govt or private banks I’ll happily make use of it.
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I wish you well in your endeavor to turn water into wine. It has been done in the past.
g
"I have sworn upon the altar of God, eternal hostility against every form of tyranny over the mind of man."
Thomas Jefferson
GeoW, The "Unwoke" ...Let's go Brandon!
"A Well Regulated Militia" Life Member
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Campfire Kahuna
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Campfire Kahuna
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"The emperor has no clothes"
These premises insured by a Sheltie in Training ,--- and Cooey.o
"May the Good Lord take a likin' to you"
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Joined: Dec 2013
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Campfire Ranger
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Campfire Ranger
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"The emperor has no clothes" Could be said about most things we hold to be true in this day and age.
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If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Who believes that? The Bitcoin ledger is public by design. Only a completely uninformed boob would think it "cannot be tracked". I posted transactions from the ledger above. As far as banning it, so what? China has repeatedly banned mining, trading for their fiat, and pretty much every other type of transaction with it, and have not been able to stop it. Chinks did over $200BB in transactions in the year after their last ban went into place.
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Campfire Outfitter
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I’ll rephrase that, Is Bitcoin like a mutual fund?
Some mutual funds have a minimum initial buy in, others have no required minimum initial investment. No there is no minimum. You can buy whatever you want to. I know people that DCA $5 a week into BTC. For those that think they are too late to the show that is not true at all. Cost of admission is more now of course but it's far from too late. Personally I am DCAing to $100K at which point I will stop. When if it drops below $100K I will resume DCAing. Warning: Do your own research you are ultimately responsible for your investments. Only invest what you can afford. Be honest with your expectations and your timeline. As Warren says investing is the Patient people taking money from the impatient people. Also there are faster horses. Something to consider is to allocate say 10 to 20% into one of these blockchains. Everyone has their favorites or opinions but right now SOL is the head and shoulder winner. Blockchain technology changes fast and generally speaking it is easier for new blockchains to dethrone older blockchains. So stay on top of your investments. Best advice I can give to anyone on the fence is to listen to Mark Moss, James on InvestAnswers, and Anthony Pompliano. InvestAnswers is a really good Youtube channel it has helped me do very well.
Eat Fish, Wear Grundens, Drink Alaskan.
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Campfire Outfitter
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If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Who believes that? The Bitcoin ledger is public by design. Only a completely uninformed boob would think it "cannot be tracked". I posted transactions from the ledger above. As far as banning it, so what? China has repeatedly banned mining, trading for their fiat, and pretty much every other type of transaction with it, and have not been able to stop it. Chinks did over $200BB in transactions in the year after their last ban went into place. BTC is very transparent and selling any crypto is a taxable event!
Last edited by MontanaCreekHunter; 03/23/24.
Eat Fish, Wear Grundens, Drink Alaskan.
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Campfire Outfitter
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Campfire Outfitter
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JM...
Doesn't it bother you that .GOV cannot track... and also tax... your BitCoin investments?
LOL If you believe BitCoin and other similar alternative stores of wealth cannot be tracked or made illegal by the governments you are incorrect. Alternative money cannot be allowed. There is a reason our fiat currency which is actually an IOU states clearly that it is legal tender for ALL debts public and private. When the time comes BitCoin can be outlawed and its attempted use can come with a prison sentence and huge fine. That is certainly true in the US, however, there are countries where you can still open a cryptocurrency account without a US tax ID. In the early days, it was easy to open without a US tax ID. Now it is much more difficult. You can also establish an international trust and open an account, however, establishing an international trust isn't free. And there there are third parties who will set up an account. Perfectly safe as you hold the crypto key. Bolivia.
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so if you have bitcoin, is your real bank for transfers "off shore" and how do you spend it if it is? Bitcoin has Bitcoin ATMs around the USA for limited redemptions.
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Campfire Ranger
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And my stock funds are going through the roof as well. Think I'll bail though about a month before the election.
Last edited by 1minute; 03/23/24.
1Minute
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so if you have bitcoin, is your real bank for transfers "off shore" and how do you spend it if it is? Bitcoin has Bitcoin ATMs around the USA for limited redemptions. There are BTC ATM's around Europe and Asia as well.
Eat Fish, Wear Grundens, Drink Alaskan.
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