Just bought $500 of Bitcoin at $6170/BTC

Scarby Jones said:
Is Coinbase decent still? I mean other than the huge influx of new users or do you recommend any where else? I am trying to get in on a little BTC and some Alts. TIA
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Coinbase, Localbitcoins, or Gemini are the easiest for getting fiat into crypto.
 
oblox said:
No, you're realizing capital gains when you dispose of property (what happens when you buy something with BTC), at least in the US.
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correct but if it trickles out from a private wallet it becomes very hard to attempt to trace. you can safely assume that exchange transactions will be monitored. I've been going more and more towards private wallets and avoiding the exchanges. I plan on sitting on mine long term though so unless it becomes an amount worth leaving the country with. bitcoin sucks for transactions and its getting much harder to spend it as the transactions continue to grow out of control.
 
oblox said:
Coinbase, Localbitcoins, or Gemini are the easiest for getting fiat into crypto.
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Thanks for the help! If I was just looking to play around with the trading nothing too crazy, is it fine to leave on an exchange to switch between other Alt coins or is it always best to pull out to a wallet? I guess my question is more on how long is the delay time between trades? I was hearing sometimes that it can take a while and wasn't sure what that meant for quick trades (if needed)
 
Scarby Jones said:
Thanks for the help! If I was just looking to play around with the trading nothing too crazy, is it fine to leave on an exchange to switch between other Alt coins or is it always best to pull out to a wallet? I guess my question is more on how long is the delay time between trades? I was hearing sometimes that it can take a while and wasn't sure what that meant for quick trades (if needed)
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It's all about your risk tolerance. Generally speaking when you aren't trading, pull your coins off as it is never advisable to leave it on them.
 
oblox said:
It's all about your risk tolerance. Generally speaking when you aren't trading, pull your coins off as it is never advisable to leave it on them.
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Is there a long delay going from wallet to exg? And to start are soft wallets okay.. Until bigger amounts? I know I'm starting late and have read decent amount, but was just curious. Thanks again for everything
 
mkrohn said:
they were by far the highest value to SELL at today so if you're a buyer they kinda suck.
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Yeah, I am late to the party due to procrastinating.... I can't believe I didn't at least mine for fun when this came out... just going to play around with BTC and some of the alts listed, nothing too crazy, but wanted to make sure I was going to decent exchanges
 
We were hyperventilating at how it broke 9000 for the first time.

Doesn't that memory just seem quaint now?
 
noobferguson said:
We were hyperventilating at how it broke 9000 for the first time.

Doesn't that memory just seem quaint now?
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no doubt, was doing some research on youtube w/ some guys who made out like bandits (hundreds of thousands of dollars), if you do your research you'll find some really nice options for making money off bitcoin, not just doing day-trading
 
Something I have noticed and has made me a little money is Kraken seems to trail coinbase in pricing but generally they come even. Using coinbase as a predictor has worked out well in buying on Kraken.

Maybe someone else will notice this.
 
The network congestion of both BTC and ETH is definitely helping LTC right now.
 
So close, but yet so far. My son (and myself) messed with Bitcoin many many years ago. I had 2 when they were worth diddly squat. My son on the other hand had at one point a couple hundred and him and his friends tossed them around between sites on the dark web like nothing. We talked last night about it. The last he remembers he had a 50 or 60 in his wallet. He can't remember any info to attempt to get them and because it was an encrypted acct/wallet he setup while using TOR, there is 100% no way for him to claim it. Oh the things we would do if we had only known.

On a happy note, @ 23 yrs old, he just bought his first NEW car. 2017 Volkswagen Golf GTI Autobahn Edition. At least I can be proud of him for that and overlook him not being a millionaire and supporting me and the family. LOL
 
Ha! There's so many stories like this. I wonder how many BTC are permanently out of circulation.
 
Scarby Jones said:
Wow, that's wild
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Yeah. All those people kicking themselves. But at the time it was little more than monopoly money. Worthless. It still seems like a dream to think that the BTC has climbed in value so much knowing where it came from.

SpeedBump613 said:
On a happy note, @ 23 yrs old, he just bought his first NEW car. 2017 Volkswagen Golf GTI Autobahn Edition. At least I can be proud of him for that and overlook him not being a millionaire and supporting me and the family. LOL
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I hope you can teach him the value of money. So he doesn't spend it wildly. And make sure he takes care of those taxes he'll need to file. I'm sure that's one bill no one wants to pay. Put what he's got left for a rainy day, education, a house, or a personal butler refilling a LN2 computer while he games on 8k monitors on twitch and also have a second computer with a waterloop per GPU, Ram stick, and the CPU that handles all the RGB in the room.

It's all about priorities.
 
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