Do people actually lose money investing into crypto? Im being fucking serious.. How? I just got into it via mining.. Didn't trade the whole time til very recently and maximized my earnings by 100000x folds..
Im up $7,000+ in a span of 4 days.. It took me near 2 months to obtain that via mining.
It's too the point were it doesn't seem real. Like am i able to actually take this imaginary cash out? What is this sorcery...
its real. so are the taxes if youre not careful
You can deduct your mining expenses and electricity costs
Welcome to trade addiction user, this was my hull last week, I wanna push 10k this week, when i hit 200k+ I'll probably quit my full time job and do stuff I want to do, while living a modest comfy life, I don't need much to be happy, I'll just sit and make a bunch of money while doing stuff, will probably give away some to random people that are working hard and earning a living to help them out, generating all types of good feels about this.
>Im up $7,000+ in a span of 4 days
by trading what, exactly?
what do you mine? setup? i have zero knowledge about mining..
coins recommended on here too be frank.
>Mining.
I trade CFD's.
>trying to convince the IRS that the electricity in your mom's house is tax deductible without filling a schedule C and getting another 15.3% taken away
good luck with that one senpai
18 Rigs. 1060, 7 way setup.. about 4 1070 6-way setup.
how much kWh do your rigs consume?
I have a few 6 way setups, my nvidias aren't working with win 10, I use a kabby lake CPU, is there a incompatibility issue with kabby lake?
What you mining with, I got 12 1070's, how do I even start with this...been mining eth on claymore.
it's around 9000 kwh a month give or take
no, it should work no problem..i am using both G4440 Skylake and the G3930 Kabylake CPU's on my system with no problems.
spend 15 minutes deciding on entry and exit points, set them, come back a couple hours later, 10%+ profit.. its too simple. thats why people fuck it up
you could be franker by naming the coins
it may be that simple but how to choose which coin is most "ripe" for this strategy at any given time?
nah.
I have my radeon r580's one machine works the other blue screens, they were both working then randomly 2 weeks after 1 stops.
My nivida machine is only 6x1060's they aren't stable, it's all bullshit.
ok, so if they are coins recommended here, how do you decide whether to invest or not? what is your criteria for a good coin to trade?
>maximized my earnings by 100000x folds.
bullshit
Mine signatum you idiot. Double profits
Hype surrounding it.
Reading the White paper.
Check if community support is strong.
Value of said coin.
Looking at graphs.
im not an expert ii just go with my hunches.
oh also don't listen to shils + fuds..
try to make ur own educated guess.
Most of the coins people talk about are garbage pump and dump. Doesn't mean you can't make money off of it though.
Do Americans really have to pay tax on their cryptoearnings?, what happens if you dont file it?, in the UK its tax free, well at least i think it is, never had to pay a penny to HMRC
>mining
You're supposed to pay tax on ALL sources of income. Win a car on a game show? Must pay tax on it.
>be greek
>what is tax
yeah i get your supposed to pay but if you dont file it how can they check?, they have access to your bank statements or something?
>4 days
Yeah not like we didn't just have bear market for the entire month of July but because you coincidentally got in as it ended it means nothing existed before then
Fuck you OP
i got in two months ago and have made zero gains.
literally broke even
Mining itself is too expensive for most. If I had sunk a few hundred dollars and some time and electricity cost into a rig, I could have mined a lot of Signatum. My computer is a shitty basic laptop with Intel CPU and GPU.
Instead I said fuck it and bought about 16,000 SIGT when it was at 1.5 cents or some shit. My roughly $240 became over $2,000. I sold off about $350 of that so I can say I made back my investment and then some. I have sell orders in place for if it crashes.
I bought 25 ETH when it was at $8, then 10 more at $10. Sold some right before peak, some right after once it was crashing, still have 2.
I just don't give a fuck about mining.
heroin
I've lost my entire BTC stash in past few days. First my long margin got liquidated at 2839$ and then BTC rallied to 3180$ few hours later and second half of BTC got liquidated today at 2:30 am at 3209$ (it went under liquidation value for a few minutes) and it's 3397$ now. It's totally fucked, I'm so depressed
Stop margin trading you fucking moron. There are reasons we tell you not to margin trade, ever.
The "buy and hold" mantra is more than a fucking meme.
What % are you up on this week? It's easy to trade this week.
I will never do it again. But I was just so close these two times, I would really have great gains - it just fucking dropped like by 5$ too much... Everyone's scoring gains and it's gonna take a good while for me to recover. It feels like things speeded up a lot and I'll miss it out... like so many times I would have made gains if I were only more fucking patient...
*only margin trade if you know what youre doing.
Just say Signatum,my fellow SIGnigger.
Read the white papers, do your homework. Even a meh coin can make you profits if you get in at the one cent range.
A good coin would be TrumpCoin. It follows its namesake in volatility, even though it's been rising consistently lately. You can make small but consistent profit even now.
I bought 20,000 Trumpcoins at 3 to 4 cents, about $800 worth. Sold when it spiked at 10 cents when he won the nomination, about $2,000 profit for a $1,200 profit. Bought 20,000 after it crashed again at about 4 cents, so that's about another $800. Sold right after the Inauguration peak at 49 cents each, for about $9,800 total, a profit of about $9,000.
I don't fuck with it anymore, but for you it might be worth buying if it drops to 4 or 5 cents again. Put in a sell order for 20%-25% more than what you bought it at, it will get there eventually, then you repeat.
>First my long margin got liquidated
found your problem
at least you got quite a lot of dollars in your bank account
If an exchange gets audited and they just happen to see you cashing out...
If you're a lazy cowardly faggot like me who sits on the same coin for months then yes you will lose a shit ton. Slowly, but surely.
I also never check what's uptrending because I'm too busy with real life and when I'm not I'm too lazy and blind.
In 1 year you can "surely/easily/slowly" make 1000 bitcoins if you're good at paying attention and predicting. Something 95% of Veeky Forums are shit at.
>if youre good at predicting the future