any Bitcoin reefers out there?

[tvpham93]

I hold btc, eth, and ada. I jumped in at around 5k for BTC

 

[Reef man 89]

It's treated the same as stock. Sell within a year and gains are taxed as regular income. Hold longer than a year and you pay lesser capital gains tax.

I think the government should stay out of it and say you make an awesome investment and YOU took the risk you should get ALL of the profits.

 

[jaganshi066]

I hold btc, eth, and ada. I jumped in at around 5k for BTC

Good for you!!! Yea I think the main ones are Bitcoin and Ethereum, but I have a few Ripple from long ago and Litecoin. I thought Ripple was going to pop off, it was the hype back then like dogecoin is now, but nothing happened. Ada I decided not to go for it cause the graph is the least consistent even worse than dogecoin, but I saw it went up recently so good for you!!!

 

[jaganshi066]

I think the government should stay out of it and say you make an awesome investment and YOU took the risk you should get ALL of the profits.

Right, same with stocks. Instead they get money for doing nothing, if I withdraw 50k, the government takes more than 15k. I mean that all depends on certain factors like if you’re single and other things but it’s crazy to think about

 

[Devaji]

Right, same with stocks. Instead they get money for doing nothing, if I withdraw 50k, the government takes more than 15k. I mean that all depends on certain factors like if you’re single and other things but it’s crazy to think about

And that is why you never sell your Bitcoin you just leverage against it like you would any good asset like a house. Say your interest on borrowed money is 5% but Bitcoin going up 10 to 20% + a year you're basically getting free money.
Michael saylor has some really good points on this topic can explain it a lot better than I can.

But just think of a nice reef tank supported 100% buy your investment!

 

[jaganshi066]

And that is why you never sell your Bitcoin you just leverage against it like you would any good asset like a house. Say your interest on borrowed money is 5% but Bitcoin going up 10 to 20% + a year you're basically getting free money.
Michael saylor has some really good points on this topic can explain it a lot better than I can.

But just think of a nice reef tank supported 100% buy your investment!

Haha I never sell my long term stocks, a couple of weeks ago Apple paid my colleague and I 15k in dividends. Even though it’s taxed imagine getting consistent income like that every month depending on which stocks you buy. That’s the end goal, and I don’t know if I’ll ever sell Bitcoin again. I sold some a few years ago when it hit a high, and now it’s more than triple that :(

 

[tvpham93]

Good for you!!! Yea I think the main ones are Bitcoin and Ethereum, but I have a few Ripple from long ago and Litecoin. I thought Ripple was going to pop off, it was the hype back then like dogecoin is now, but nothing happened. Ada I decided not to go for it cause the graph is the least consistent even worse than dogecoin, but I saw it went up recently so good for you!!!

The reason ada is starting to go up is because there’s a lot of upgrades coming for it. The first one is enabling smart contracts next month. Then they will move on to do defi exchanges, etc just like eth. But the difference is that there won’t be a fee on cardano is move stuff around or use smart contracts.

 

[jaganshi066]

The reason ada is starting to go up is because there’s a lot of upgrades coming for it. The first one is enabling smart contracts next month. Then they will move on to do defi exchanges, etc just like eth. But the difference is that there won’t be a fee on cardano is move stuff around or use smart contracts.

Yes, my girlfriend got some and she’s up a lot. Oh wow that good information, thank you!

 

[Matt1997]

Sense jealousy

Yes...I’m jealous of someone who lies about having 5mil in Bitcoin.

 

[jaganshi066]

Yes...I’m jealous of someone who lies about having 5mil in Bitcoin.

Good luck with everything and all your fish!

 

[jtf74]

just wondering if any fellow R2R family is also into cryptos especially bitcoin? any hodlers out there?

crypots + reefing =

No BTC, sold my ethereum and bought XRP which is the only crypto IMO that has an actual use case. The others are simply stores of value and govt regulation I think will eventually make some of these cryptos disappear.

 

[jaganshi066]

No BTC, sold my ethereum and bought XRP which is the only crypto IMO that has an actual use case. The others are simply stores of value and govt regulation I think will eventually make some of these cryptos disappear.

I hope XRP goes up too! Ethereum might have some use, there was a bank thinking of using it for house loans or vice versa. Forgot where I read that

 

[Devaji]

Haha I never sell my long term stocks, a couple of weeks ago Apple paid my colleague and I 15k in dividends. Even though it’s taxed imagine getting consistent income like that every month depending on which stocks you buy. That’s the end goal, and I don’t know if I’ll ever sell Bitcoin again. I sold some a few years ago when it hit a high, and now it’s more than triple that :(

yes warren buffet never sells that is the way of investing.
the hardest part of bicoin in not freak out when it drops and dont sell whan it goes crazy.
I believe in the next year we will be able to get dividends on BTC.

 

[Devaji]

Yes...I’m jealous of someone who lies about having 5mil in Bitcoin.

I am not sure why this is so hard to believe. he bought @ $5 per coin back in the day. that is like $500 we pay more than that on a skimmer what to speak of reef lights.

if he held which is the smart thing to do and what he said he did I see no problem that he has that.

 

[DucatiGtr]

Yup! Bc and ether. Close to a 500% return.. it’s amazing!

 

[Devaji]

No BTC, sold my ethereum and bought XRP which is the only crypto IMO that has an actual use case. The others are simply stores of value and govt regulation I think will eventually make some of these cryptos disappear.

IDK man once lighting goes live on the bitcoin block chain its almost free like. like a fracton of a cent. millions of transaction will process every second . + it give it defi and smart contracts.
but who knows I dont think BTC will ever be a transaction coin but more of an asset like gold .

 

[DucatiGtr]

IDK man once lighting goes live on the bitcoin block chain its almost free like. like a fracton of a cent. millions of transaction will process every second . + it give it defi and smart contracts.
but who knows I dont think BTC will ever be a transaction coin but more of an asset like gold .

And Miami has it in adoption.

 

[Mastiffsrule]

I don’t know, I must be doing something wrong.

So far my investment in my visa and Amex have really hit me hard in monthly interest payments

 

[jaganshi066]

yes warren buffet never sells that is the way of investing.
the hardest part of bicoin in not freak out when it drops and dont sell whan it goes crazy.
I believe in the next year we will be able to get dividends on BTC.

Don’t know about dividends on cryptos but it’s wishful thinking haha

 

[jaganshi066]

I am not sure why this is so hard to believe. he bought @ $5 per coin back in the day. that is like $500 we pay more than that on a skimmer what to speak of reef lights.

if he held which is the smart thing to do and what he said he did I see no problem that he has that.

I usually don’t get into what I don’t know, but my colleague got me into it. I got him into stocks and he’s made more on stocks than the 100 Bitcoin haha