/biz/ - Business & Finance

>>5985605
Both

I see all these day trading threads and am genuinely curious. If you're in parts of Europe or the US, you're going to get absolutely destroyed on taxes day trading. Unless they've just built that in.

>>5985605
>saying "hodl" instead of hold unironically

>>5985605
Pick 4, or 5 SOLID projects, that aren't just a flavor of the week PnD shitcoins, and will actually stay around for at least a few years. HOLD those.

Then daytrade on the side.

My folio is 80% HOLD 20% Moon Missions.

>>5985605

Day trading if you know what you are doing.
Holding if you are a brainlet.

>>5985605

If I had hodled instead of trading I'd be a multimillionaire instead of a hundred thousandaire

>>5985605
day trade if you like to gamble. hold if you have other shit in life to do.

>>5985605
Depends. If a coin if fluctuating greatly, Day trade. If it has consistent but slow gains, hold.
Things to day trade: XLM, LINK, REQ
Things to hold: NEO, ETH, NAS, MGXL

>>5985706
This. Reddit needs to leave

>>5985699
>paying taxes

100% hodling, unless you really know what you're doing when it comes to day tradings. I've had the following amts. of alts that would've really boosted my portfolio, but I kept trying to day trade and chase moons:
XRP: 1,000
XVG: 30,000
TRX: 10,000
XLM: 3,000
POWR: 4,000
I plan on only hodling from now on and selling to buy beck in only when I'm certain there will be a dip.

>>5985605
day trade in bear market, you have to or enjoy being down 80% when the bear cycle finishes lol.

swing trade and hodl for bull market. The amount of times I've sold something to have it 2x the next day has made me numb.

>>5985605
In the current market holding is like the easiest way to make money, literally every coin went 10x in the last months.
Of course you can get some extra cash if you time the waves perfectly but it's just as easy to miss the next moon mission because you thought it would dip once more.

>>5985801
this pretty much and occasionally switch out coins if your stagnating on one for a while.

>>5985779
>If I had hodled instead of trading I'd be a multimillionaire instead of a hundred thousandaire

If I hodld instead of trading I'd have $16k as opposed to $500k.

>>5985804
I would agree apart from the REQ, it’s provided me steady gains. But the others you listed to hold are spot on.

>>5985902
you picked shit coins

>>5985699

No taxes for losses though

depends; i day trade and i made nice profits however if i held some coins i'd have more, if i held other coins i'd have less.
so maybe hold if you got more money to invest and day trade if you want to build it up.

>>5985699
How on Earth would they get my trading records if I sent my coins from Binance to Coinbase before cashing out?

If something moon hard I just sell off 50% of it and leave the rest in there for a couple of months and use the gains to trade for more shitcoins

>>5985924
I started with $300.

>>5985924
ie got unlucky

explain rationally why the fuck a bunch of retards bought TRX / XRP / LTC after the fucking founder sold all his coins (ffs) / really any coin for that matter they are all vaporware scams

>>5985605
made 20k just holding since the 28th

>>5985915
Don’t get me wrong, I currently am holding REQ, but recently it has been crazy (going from .76 up to 1.17), so until it calms down I’m going to trade and then settle in for a long term hold.

>>5985958
how innocent
IRS is being sued by Coinbase because they want all users transaction and location data
IRS sees you deposited $200 in 2015
IRS sees you withdrawal $20,000 in 2017
IRS questions you and puts you in jail unless you can prove the money was legal

>>5985757
this

>>5985605
swing trading

>>5986001
You didn't "make" anything unless you sold for Fiat retard

>>5985779
Nice LARP

>>5985699
killed on taxes? who exactly are reporting these trades to commission or the IRS? Are these regulated exchanges? Are these considered options, stocks or are they digital token objects? do i pay taxes for trading playing cards? not sure what world you think cryptocurrency lives in but its not that one

>>5986000
yeah no...they publicized moving tron as part of the partnership they are announcing today...if you sold youre too weak and skittish for the crypto-game.

Lol to all the people avoiding the tax elephant. Unless you're playing with trivial amounts, the IRS is going to go absolutely gangbusters for crypto. It's in the news, it's new, there are stories of immense wealth generation, and ol uncle Sam is not going to make examples of people and take their cut?

Generally, the rule of thumb is - newfags trade, oldfags hold. You'll find out soon enough.

Part of my portfolio I day trade with. I choose coins that are likely to go up in the long run. Coins have to have a purpose, good team, not to many distributed coins yadayada.. Coins that you can hold in case the price suddenly drops 50%. Coins have to be below 10k satoshi. Coins have to be on the page 1 in traded volume.

Let's say I buy coin x at 950, it has a general upward trend. I know there is a psychological line at 1000. So I sell at 998, because there will probably be a sell wall at 1000, because 1000 is a nice number and everyone puts their auto sell at 1000. So I sell at 998, 998-950/950*100 = 5% profit. Cuz of the sell wall it'll dip down, and I rebuy at 950ish again. I do this a couple of times untill coin x finally stays above a thousand

>>5986115
actually it is
new tax bill defines crypto
IRS is already tracking the BTC blockchain with bots and is requesting US exchange user data
i still wont pay taxes though and have no plans on going to fiat

>>5986115
I can't tell if you're trolling. The like kind swaps were removed in the latest tax bill. Every crypto trade is a taxable event now. The IRS literally has an entire team tackling crypto.

>>5986110

Naw. Not sure how new you are, but years ago we had a /new/ board where I was introfuced to $30 bitcoin. Made my first coin purchases for $70 each back at mtgox, still have my yubikey they sent me for being a 'valued customer'.

If I had just sat on what I had instead of trying to multiply my holdings I'd be extraordinarily, disgustingly wealthy. My biggest fuck up was 20x leveraged futures trading at OKCOIN. I ended up fucking a chinese virgin because of my chinese trading, but thats a whole different story ;)

>>5986021
Which is why you don't take out the same way you put in.

Buy gold with crypto and sell it for cash.

>>5985605
Hodling.

I've made about 30% profits daytrading in the last month, would've been about 2000% if i just held.

18 out of the top 50 coins are at least 2x in one week. Only 2 coins of the 50 lost value in a week. Make your conclusions.

>>5985847
>see all these day trading threads and am genuinely curious. If you're in parts of Europe or the US, you're going to get absolutely destroyed on taxes day trading. Unless they've just built that in.

Day trading isn't fucking hard, it's just stressful and time consuming. I have a job and every break I take I'm glued to my phone.

>>5986226
This

>>5986313
have you ever heard the saying "there is nothing new under the sun"
that is you trying to evade uncle sam
everything that you can think of has been tried. you wont outsmart the "business" that can jail and shoot you if you dont pay and wants their trillions

gold is auto reported to the feds if its a transaction over 10k, and localbitcoins is full of feds
https://www.coindesk.com/9-years-localbitcoins-trader-sentenced-latest-money-transmission-case/

good luck cashing out anon. i dont plan on it.

>still no wall
>pajeets in charge of internet
>big government taxing crypto into oblivion
>cops killing white people on the order of mutts
MAGA lmao

>>5985605

Trading if you know what you're doing.

Holding if you don't.

>>5986438
there is a reason only 3% of the population could vote in 1790

>testing day trading for 6 months
>go from 600 dollars to 300.
>fuck it drop 4k into ethereum, bitcoin, litecoin, ripple.
>am now sitting on 100k

fuck trading lol

>>5985699
you don't have to pay taxes if you don't have any fiat.

>>5985605
Daytrading, but ONLY if you KNOW what you are doing and also have a bit of luck.
I tried it and got burned, made only 30% gains. Had I just held the original stock I started out with, I would've been up 100%, without any hassle, no stress.

>>5986115
These kids are so naive and stupid they think these offshore exchanges email the IRS the entire trading history of their clients.

>>5986597
maybe you shouldn't trade just for the sake of it and doing a fucking trade already. You trade when you see a great opportunity.

>>5986597
>day trading
>with a puny $600 stack
Found the problem.

I've lost out on thousands trying to day trade and follow the coins on /biz/. Now I'm just HODLing ETH/LTC and some BTC for long term rewards.

My portfolio is 100% day trading funds. Ya people say you make more gains holding but IMO a gain doesn't exist until its part of your capital. I knew people who bought into ripple at 20 cents and are still holding it. I bought ripple at 2.5 sold at 3.3 bought again at 2.7 sold again at 3.2. Purchased again and waiting for btc to drop before I sell and buy again. ~ 500-800 in capital gains. Main thing is don't be greedy. Pick a percentage and once your coins grows up to your percentage SELL regardless of your attachment or hype.

Being able to predict the market is a meme.
I've made 70k from 4k by buying at atl and holding

>>5986438
>>still no wall
Illegal immigration down 70% and most of your family makes the frontpage news, crying over their deportations (always gives me a good chuckle)
>>pajeets in charge of internet
Better than a nigger or jews
>>big government taxing crypto into oblivion
Amendment was added by a Democrat-Colorado
>>cops killing white people on the order of mutts
Highest white birthrates in ten years. Our day is coming and we are awakening.

Be afriad, be very afraid shitskin.

>>5986226
>>5986394
Reddit get the fuck out.
If you know how to fucking trade, you trade.
Holding is for fucking retards who don't know what they're doing.

>>5986877

back to /pol/ sir

>>5985605

Some people are better hodlers, some people are better traders. There’s no one answer. Find what works for you.

I don't get how taxes work in the US.
How can they make you pay for each crypto transaction you make?

Here in Argentina I can pretty much buy and sell anything I want free of tax.
Up until it gets in or out of my bank, I don't have to pay or claim anything to the state.

>>5985605
You are a frog in the well, ignorance is bliss right?
Ultimately the money will reach your bank and then there will be a trail
If you sell it in person, you will already sell at a -20% the market rate and good luck finding a person to buy if you are a trader who cashes out on every third day
The last thing is we are grown ups and know what messing with the law could result in, they will send you a notice after 5 years will 100% penalty and the interest on the penalty compounded annually at 12%, at that point you will be paying 300% more than what you earned all to together
But anyways, good luck if you dont pay taxes

>>5986962
Sounds like your parents got you vaccinated

Also something to think about OP

I make tens of thousands every week in a bull market whilst sitting on my arse playing ps4, browsing the net, learning about new cryptos, going out with mates, working out etc

Day trader cucks have to sit in front of their computer all day watching graphs being all stressed.

Hmm yeah, I think I know which one I'll stick to.

I split 60/40
60% hold
40% daytrade

>>5987022
Seriously - I would guess 95% of holders are ahead of the idiots of daytrade.

>>5986763
My father urges me to do that instead of letting my positions open over night and to sell at goal.

So how does this make more than simply holding? What if it never dips below your selling point?

>>5986962
Day trading is gambling. One day you make 5000 dollars the next you lost 3000 dollars.

>>5986877
>Amendment was added by a Democrat-Colorado
republicans have no fucking spine
cant wait for everyone in DC to pay for being the fucking subhuman anti liberty scum they are

>>5986963
This is a pol/biz hybrid board. Always has been. Now, back to r*ddit, nigger. This is a board for winners. Pump chasers like you belong with your fellow cucked bugmen.

>>5987022
i hope youre mocking vaccination ironically

>>5986877
Literally no one is afraid of you faggot alt righters lmfao.

>>5985699

You only pay taxes on your net gains.

300k XVG
150k DGB
1MILL RDD
25MILL MINT

>>5985699
>kike fudders still attacking crypto with fake tax FUD
>the jews can't ever stop lying

If I "sell" an alt at .02ETH when it hits an ATH I have a "profit" followed by a simultaneous "expense "buying that .02ETH. Net taxable, 0.
I then wait for a dip and buy the alts back at .01ETH. My "sell" of .01ETH is then followed immediately by a "buy" of .01ETH. Net taxable, 0.

You do not owe a goddamn cent until you cash out into a fiat currency.

The holocaust wasn't real, but it should have been. You fucking kikes are like goddamn lice. Thankfully, we figured out ways to deal with lice.

>>5985779
so you’re a bad trader. thanks dor the insight

>>5987194
>everyone who disagrees with me is jewish
anti-semitic people sure do seem like they're firmly grounded in reality at all times, and aren't prone to conspiracy
>inb4 i'm a kike too, for calling you out

>>5985605
I can't tell you how many moons I've missed by day trading into shilled shitcoins and turning my back on solid long-term holds. Day trading is just a lie bag holders tell the gullible to convince other people to help them escape losses.

>>5987104

FIFTY
SIX
PERCENT

PS. How does it feel that you're literally going to be wiped out soon enough? Your grandkids wont look like you. Just ponder on that for a bit.

Your legacy is DONE and there's nothing you can do about it. The amazing thing is anyone that is a POC knows it and ironically mocks your leaders for letting it all happen.

We're taking over, boy. Just watch.

>>5986239
>new tax bill defines crypto
What tax bill, you fucking lying kike? You mean some unrelated real estate code that hasn't a goddamn fuck of a bit to do with crypto? You mean that one?

>>5987282
Day trading is not a lie.
You simply have to stick to a plan.

>>5987352
>>5987233
Not everyone can daytrade. If you make more money holding its better to do that.

Daytrading if you're good because of compound interest. But it's stressful as fuck and you need to invest a lot of time

>>5987104
I can't imagine anyone here liking trump after the new tax bill lol

you maga shiteaters literally like inserting spiky clubs up your anus lmao

>>5987352
>>5987385
>>5987398
Where did you guys learn how to beat these crypto markets and actually make any profit?

>>5986095
i..uhh.... ok anon

>>5987095
You mean if it never rises above my selling point? In that case TA comes to play. If my coin is growing stale ill check the TA, lll check coinmarketcap.com and I'll check candlestick patterns from 1min to 12h/ one day. Candlesticks are my main indicator when I don't know what to do with a coin.

If I'm at a loss I don't sell. If I invest in a shit coin it's to pump and dump it within a half hour. Every coin I hold for more then an hour has something promising/unique about it

>>5987510
I'm literally just holding ETH/BTC/LTC because they're on coinbase and normalfags will buy them. It's easy passive money.

If you've never actually filled out investment tax forms you shouldn't even post.

>>5985605
Made 60k 2 days ago bumping and dumping, my first try
To be honest I was nervous af and will never do it again. Even with 5% like this day. Not for me. Wish you the best

>>5987570
I thought u learned your lesson when no one gave a shit about bitcoin cash

>>5985757
this

>>5987104
Actually, this was a somewhat decent board, filled with somewhat well-adjusted people. Now the culture has completely changed and it's a disgusting mix between /pol/ and /r9k/ ..angsty teenagers and edgelords.

>>5985605
daytrade during the day hold during the night
how hard is this

>>5987510
By losing a ton of money first. I'm mostly holding now but needed to day trade first to generate enough fantasy money from my initial investment that holding makes sense at all.

No way I'm putting my monthly paycheck into this shit when I can make an annual salary with one moonshot

>>5987641
like, everyone who day trades does this, that's why it's called daytrading but nice advice regardless

>>5987194
someone with a brain on this board. si many stupid normies have flooded this place

>>5987591
Btw,
It was on AERON

>>5987608
Which is why I don't invest in that shitcoin. ETH and LTC actually are useful as crypto which can be used to transfer without heavy fees.

here's how you day trade

first go to your doctor, or drug dealer and get some adderall
adderall is key, because even if you're losing a bunch of money you will still think you're a trading god
next step
go on whatever shit exchange you use
find whatever coin has volume moving
put in a buy order for lower than it's going
if you see a coin that is buy 0.005 sell 0.006, fuck that coin, and find a different one, make sure the spread is good
buy it for lower than you sell it, bam you're a "day trader"
could easily make $100+ a day doing this, it isn't hard to do, I'm only saying $100+ because that would probably get most people to quit their shit slave job.

>>5987242
shut the fuck up you filthy kike

>>5985605
I started out holding and it has yielded comfy gains as expected but I'm planning to test the waters with a very modest trading investment after watching the market for a while. Long term holders are like pilot fish living off the scraps that are left after the sharks devour the bad traders. After bitcoins recent rise there was a huge influx of fat ignorant fish trying to play at being a shark and the feeding frenzy is still going.

>>5986991

You buy 1 ETH for $1. You ride ETH up to $100 and sell it for NEO. You pay taxes on the $99 of ETH you gained by holding. Buying the NEO is the same as putting the $100 into your bank account. Stocks work the same way from what I understand.

>>5987510
just start small and do it. if you fail, figure out the mistakes and carry on

>>5985706
HODL

>>5985605
it depends on who you ask
the ones selling high and buying low will tell you trade
the ones who spent 23 bitcoins on weed in 2010 will tell you fuuuuuuuuuuuck

>>5987861
But how do they see your gains or you bought? Aren't cryptos supposed to be decentralized?

>>5986275
Hmmmm maybe until I buy an unknown amount of monero

I'm just holding now because I have 500k already. Taxes are a pain in the ass and 1.5k trades make it even worse.

>>5987177
That's how it used to work but I heard under the new tax bill people will be taxed for every transaction/trade made.

Don't know if it's true, need to look into it myself.

>>5985958

Dude none of this stuff is a secret. Even if you transfer your gains to monero.

Like people havent tried burning boats before.

>>5988082
it's not that they can see it or not, is that you need to provide that info when you cash out into fiat, or it will look like you are laundering money.

>>5987552
No if it never goes lower than when you sell them.

The only way you can profit with your method is if it dips back below when you sold them.

>>5987861
This is literally the correct answer. Anyone saying otherwise is trolling or uninformed. The ride up to 100 is taxed, and the moment you swap to another coin, you've cashed out. If under a year, you're paying it as essentially as income.

>>5987552
How do you set your chart or how do you read candles to know if you should buy or sell?

>>5988369
This

It's up to you to prove where you got the coins when you cash out

>>5988421
And that's why you buy 1 year hold coins and use Fiat or already 1 year held coins to buy promising alts

>>5985605

I was in the HOLD camp, maybe made 4 trades per month, tried to ignore everything I could.. until on a whim I moved $5K worth of link bags to XRB and made half a fucking million.

I've been trading now, selling old bags and researching new bags to buy.. it.. sucks. It's eating my soul and my free time.

I'm trying to get back to holding.

>>5987242
Fuck off you hebrew rat.

>>5988662
Where do you find things that are actually going to appreciate?

>>5985902
teach me how to day trade

>>5985605
With day trading you lose your money faster, more suitable for /biz/

>>5985605
hodl while watching and adjusting stacks accordingly

>>5985605
yes to both, but trade only if you are good at trading. if you aren't experienced, trade with a couple hundred bucks first. make $100 before you start trying to make thousands or more in a day.

hold 80%-90%+ of your investments, trade with the remainder. if you are good at trading, you will get your 80-90% hodl back

>>5988745
Read his post again. He didn't know that XRB was going to rise like it did.

It's all luck. Buy a shit ton of shares in penny stocks and with any luck, it'll explode in value.
They were lucky not just because of the added value but because it happened overnight practically.

>>5985605
Depends on the person, i normally sell too early during a moon but if youre good at it then you can make a lump sum from daytrading. With that being said its always good to have hlod coins incase you get justed.

>>5985801
>day trade if you like to gamble.
Says the guy who never reads industry reports.

>>5988745

jumped into DBP and DRGN last month. I just go through coinmarketcap and read whitepapers, check here, check jewtube shills and plebbit. Setup twatter and kikebook accounts and just added everything related to crypto.

>>5988384
Oh after I sell.

If I don't get a good reentry point then I move along. If I do decide to buy still, the coin better be amazing and hype needs to be through the roof with gains expected within a month at most.

When I started I saw icx at 2.5 and I had 500 in my portfolio. If I held I would have made 1400. I day traded and I'm at 2.5k right now and am waving farewell to the icx train because it'll never go sub 6 at this point. But if it does oooooooboy it'll be my first hold

>>5988886
>he thinks the price is based on fundamentals

kek. So tell me anon, which crypto has the most favorable p/e ratio?

>>5988886
>Industry reports
>Crypto

at the end its same +10,-10%, few profit, but many lose.

>>5985852
Never look back

>>5988082

They don't. It's about proving to them that you earned the money honestly. There's nothing illegal about investing in crypto, but if you suddenly deposit $100k+ into your bank account, you need to prove to them you didn't get it from selling drugs or something.

>>5985605
Go big on one coin until it makes it big. Once it makes it big, sell and pick 2 new ones now. When 1 new one make it big, sell and pick another coin. Rinse and repeat.

>>5988503
Google candle stick patterns.

It sounds really dumb, but imagine a candlestick like a slingshot. The longer the Tale in one direction the further it'll fire in the opposite direction. THIS ONLY APPLIES WHEN YOU SEE A TREND REVERSAL DON'T DO THIS FOR EVERY CANDLESTICK

That's the simplest way I can describe it but check investopedia you'll understand it much better

>>5987331
As stated before, HIGHEST WHITE BIRTHRATES IN TEN YEARS. You shitskins are getting deported left and right, chain migration is on the chopping block, and niggers can't get welfare without proof of work or finding work. And we all know you niggers won't work so whatever's left of you that hasn't been aborted LOL will starve to death.

>>5987470
You're literally a dumbass like the poster who I replied to above. Read the comment chain. ADDED BY A DEMOCRAT FROM COLORADO DUDE WEED LMAO!!!

>>5987640
Actually, no it wasn't newfag. Been here for years not one month like you who migrated from r*ddit after you 'mirin our gains. Pol/fit/biz has the most overlap here by far.

>>5986226

This.

There’s money to be made both ways - but holding is more of an art than trading.

>>5989115
>ADDED BY A DEMOCRAT FROM COLORADO DUDE WEED LMAO!!!

aren't you a fucking mongoloid with a primitive tribal brain, fucking you over is a bipartisan goal. enjoy.

>>5989167
This asshole literally gambled his money because he came from a wealthy background so there was no repercussion if he lost all his money.

>>5989207
>couldn't refute
I bet you actually believe that R and D next to their name means anything hahahaha. They're all Dem's aka sellouts. Democrats and Democrat-lites masquerading as GOP. That's why the gop is so 'spineless'. They are supposed to be because they are paid to be. You only need one hand to count the representatives who are real American conservatives.

>>5989115
You sound like an absolute newfaggot, buddy. I fucking guarantee that you were washed in with the cryptoboom.

>>5985743
Basically this is what i do.


Hodl coin:
Xem
Eth
Ltc
Neo
Btc

>>5986345
> 18 out of the top 50 coins are at least 2x in one week. Only 2 coins of the 50 lost value in a week. Make your conclusions.

Have you ever zoomed out and looked at the chart on a yearly timescale?

>>5986095
are you fucking retarded?

>>5986021
lol are they going to do this to every single US citizen who made gains with crypto? They'd spend more money on legal fees than they'd make.

>>5989482
I guess I hit a little too close to home. Don't worry, you will make it. I'm sure of it. It's almost impossible to lose money in this market.. You'll do it. Eventually.

>>5985826
bitcointalk needs to leave you mean

>>5988745
read shills from 4chan and discords and then get lucky

split my portfolio between sia and salt like a week a go and have more than doubled just on the sia pumping in the last 24hrs.salt still hasn't taken off but i think i can at least 2x my holdings in the next few weeks

I shit you not i almost sold all my sia 2 says ago.

If it's the 1st day of shilling buy. third day sell

>>5986226
Fucking this, noobs are going to cry.

>>5985605
HODLing altcoins is obviously the way to go. altcoins just do 100% a week forever.

Trust me I've been in this for almost a month.

>>5985605
Assuming you DYOR and can tell a solid coin with good growth then long/medium term investment is way more profitable than daytraing

>>5990358
You split a coin (remove the principal) when it makes certain profit (usually over 100%). That's not daytrading.