Did anyone else lose more than I did?

[Anonymous No.12766260]

>Peaked at $350,000 in Jan '17
>Currently sitting at $9,000 in Jan '19
Im unemployed too and literally living with my dad where he pays for everything. Everyday I want to stab myself I want this pain to just end.

[Anonymous No.12766264]

>>12766260
Meme numbers on Blockfolio don't count as having actual value. If you had $350,000 in your bank account, then we're talking about reality.

[Anonymous No.12766266]

And you really didn’t think to cash out even 100k? Yeesh

[Anonymous No.12766290]

>>12766260
17? how did you peak before the 17 bullrun in december?

[Anonymous No.12766301]

>>12766264
This.

You could theoretically buy 1 billion shitcoins, pump the price artificially to $1 and have $1billion on blockfolio

[Anonymous No.12766343]

$600k at peak
$19k right now.

[Anonymous No.12766378]

>>12766266
At this point I honestly think over half of /biz/ are eternal bag holders

[Anonymous No.12766384]

>>12766260
Peak 250k, currently 30k. I have 450k in other assets though. I know I'm significantly less JUSTed than you, but my advice would be to come to terms with the fact that you're most likely never getting the money back. Even if crypto pumps hard, you would be very lucky to get even just a 5x. Chances are that you'll never turn that 9k into anywhere near what you lost from ATH. If you keep dreaming about it you'll end up wasting years of your life. Let go and move on. If crypto moons, great, but try to forget about it for now and focus on other things in your life.

[Anonymous No.12766411]

>>12766290
meant jan '18

[Anonymous No.12766507]

>>12766384
I have 350,000 req though if it
hits $10 thats 3.5 mill.

[Anonymous No.12766529]

>>12766507
>if
Dude, that's a total shitcoin with no use case. I'll grow a second dick before that reaches even 1$ let alone 10$...If you're gambling, there're much better bets out there.

[Anonymous No.12766548]

>>12766529
if Link makes it Req will too though r-right. Theyre best bros.

[Anonymous No.12766565]

I wanted to tether up so bad but biz said it was a scam.

[Anonymous No.12766675]

>>12766548
Yes, of course. Keep waiting forever in hollow hope. At least throw your money in something that has a chance of doing something. LINK is the obvious choice. CHX, QNT and HOT too. Don't fuck this up. You still have a chance to make an amazing amount in a few years. Just gotta choose carefully. All the other shitcoins are going to hell.

[Anonymous No.12766711]

peak 1.8mil
now ~150k
ddin't sell shit.REEEEEEEEEEEEEEEEEEEEEEEEEEEE I COULD HAVE RETIRe

[Anonymous No.12766862]

>>12766711
greed is a bitch. Easy come easy go. Nobody who worked for 1.8 mil would let it slip away. Only a retard hanging on to internet money sitting on his ass all day will let something like this happen. Live and learn.

[Anonymous No.12766881]

only way you bagholder will ever make your money back is by holding chx for a couple of years

[Anonymous No.12766885]

>>12766862
My reasoning was I was going to pay 60% to taxes if I were to cash out so might as well hold onto them. who knew it can drop more than 60%

[Anonymous No.12766889]

>>12766343
Wew I had 100k at peak and got double what you got

[Anonymous No.12766916]

>>12766885
again, retard in action. No honest working adult would pass the chance to clear $800k for doing nothing. Admit it, you were a greedy little bitch.

[Anonymous No.12766961]

>>12766916
Of course he was being greedy, but that doesn't make it an easy decision. Perhaps he could clear it at a lower tax rate if he waited it out. I know a lot of Germans wanted to wait 1 year before cashing out because it would result in 0% tax on gains. In that situation, you get "paid" several 100k for waiting a few more months. If he invested 20k you would probably have told him to cash out once he hit 60k too..

[Anonymous No.12767000]

>>12766961
My point is $800k...that's a lot of money anywhere in the world mate. For doing nothing. Don't come spouting some bullshit about $60k, nobody said that but you.

[Anonymous No.12767102]

>>12767000
How much did you make from the bullrun though? You'd have to be insane and "greedy" in some people's minds to hold something like ETH from $7 up to $1000, rather than selling at $200. But you'd be much richer if you did.

Basically I don't think greed is the best way to explain it. It's more lack of understanding and poor risk management/strategy.

[Anonymous No.12767136]

10m at peak, 1m now....not even kidding.

[Anonymous No.12767141]

>>12767136
Damn, what were you holding?

[Anonymous No.12767189]

>>12767000
My point was that most people who had 7 figures at ATH had already made extremely "greedy" decisions before that. A conservative investor would most likely never have gotten anywhere near 1.8 MM.

[Anonymous No.12767205]

>>12767136
Within next 5 years i'm sure you will get that money back, be patient.

[Anonymous No.12767252]

>>12766378
not a bag holder, these coins have real value, never gonna sell.

[Anonymous No.12767254]

>>12767000
This wasn't as easy as you think. For one, the peak was extremely short lived. For two, depending where you live, even in many (most?) first world nations, cashing out that amount of crypto is very difficult even now (let alone a year ago), and the counterparty risk is enormous. And moreover the only stablecoin back then was Tether, which has been a ticking FUD timebomb forever, it would take massive balls even now to tether up that sort of position.

[Anonymous No.12767418]

>>12766711
>thread theme:

https://www.youtube.com/watch?v=u5if6nV0jAY&feature=youtu.be

[Anonymous No.12767420]

15% of my money is in chainlink 5% is in other crypto projects 10% is in savings and the rest of the 70% i recieve 1% every month for 70 months. How fucked is my portfolio?

[Anonymous No.12767451]

>>12766260
If you didn’t cash out then you really didn’t lose anything because you never gained anything to lose, aside from initial investment of course.

[Anonymous No.12767711]

>>12767254
anon gets it
i live in francistan, effective crypto tax rate in jan 2018 for €100k+ gains was !80%!
talk about clearing money for free all you want, could you actually live with FOUR FIFTHS of your money taken by the state to feed sandniggers?! as a frog i have to live every day seeing my neighbors become a little bit browner, this is just adding insult to injury
not to mention i'm not a fiat-obsessed mong... i'm in crypto to hedge against hyperinflation and european collapse or confiscation. i wish i had sold the top, but only so i could have bought the bottom

[Anonymous No.12767725]

>>12767420
>the rest of the 70% i recieve 1% every month for 70 months

What is this? an annuity? how do you make money from this?

[Anonymous No.12767736]

>>12767725
Something like that. Its a monthly insurance payout. A fixed amound of dollars every month until i have what they owe me.

[Anonymous No.12767778]

>>12766264
this is just coping
selling is a magical act of turning meme numbers to real numbers

[Anonymous No.12767892]

>>12766260
$300k to $15k here. Originally bought into crypto for $6k and I have more than enough traditional funds and fiat to float me for some years so its not that bad for me. I also learned a lot and am positioned to go into the tens of millions before 2h 2020, whether a general bullrun happens or not.

[Anonymous No.12767895]

>Everyone forgot about nano dude.
>he stated he was from Madagascar
>he had 5 years of life savings
>he bought 100k at .05
>constant screenshots
>when it hit $30 everyone told him to sell
>he peaked at 3M
>said he will hold and wait
>massive drop
>went dark
>zero communication
I think it’s save to say that he was the ultimate Just. Guy went from 1,000 to 3M. Greed is powerful.

[Anonymous No.12767901]

>>12767451
>If you didn’t cash out then you really didn’t lose anything because you never gained anything to lose, aside from initial investment of course.
this kind of mental gymnastics leads to bad choices. always think about your investments as if you're continuously cashing out and deciding to cash in again every nanosecond as a conscious decision, because holding is the same as buying if you had the cash and not the asset.

[Anonymous No.12767912]

>>12767778
I disagree. The ability to know when to get out is just as important as when to enter. If you are unable to do that, then I don't care what you're peak account value was, you don't actually have anything of value. It's analogous to the guys stuck in the high school days saying they were NFL bound if it weren't for their bum knee. Either your body was in shape to handle the burden of an athlete career or it wasn't. Either you actually exited the trade and made the money or you didn't.

[Anonymous No.12767980]

>>12767912
You're thinking the wrong way. Everything is an investment including fiat currencies. If the bank fails you lost your money. If inflation hits you lost your money. Prior to fiat people traded investments for other investments. Goats for gold or food/crops to plant. Gold became a standard at one point because it could be devided into any amount that was useful for trade, it had industry and jewelry uses, and there was enough of it for everybody while at the same time being hard to find in large quantities and impossible to replicate. Fiat is a standard because it is enforced by the governments and militaries of the world. Gold is illegal to own or transport over boarders in many countries. Gold was illegal to own in america from 1930-1970. Everyone literally had to trade their gold into the bank in exchange for a gold backed certificate in 1930. Remember anon everything is an investment. You need to know when to exit usd as well.

[Anonymous No.12767985]

>just HODL bro

The most expensive meme ever created.

[Anonymous No.12767999]

>>12766260
how much have you put in though anon?

[Anonymous No.12768006]

>>12766507
are you ok? spoiler alert, you're not

[Anonymous No.12768028]

What are stable coins? Jesus, the absolute state of biz.

[Anonymous No.12768029]

>>12767912
anon, mind sharing any exit strategies you employ? ie, percentage? time? ta indicators et al?

[Anonymous No.12768049]

>>12768028
there was only one 'stable coin' back then and it was tether and (((/biz/))) told us not to use it because it was a scam

[Anonymous No.12768090]

>>12767912
This essentially.

>>12767980
This retard is going to make non-stop shit "investments" thinking he's diversifying his funds while wondering why all his assets are drying up.

If you know how to cash out, then do it you fucking retards, and don't come on here whining about how you lost millions when you never had them to begin with, fucking retards.

[Anonymous No.12768091]

>>12768049
I guess BNB was an alternative in a sense. Tether was and is a scam that could have blown up any time as far as anyone knew. Good for the anons who tethered that the people behind bitfinex and tether didn't get pushed/exposed enough to get scared into simply exit scamming.

[Anonymous No.12768099]

>>12768049
And you believe everything you hear on biz?
Why would someone try to convince you tether was a bad choice at the peak of Jan 18 frenzy ??
Tether was one of the few ways to lock in a price on your returns without dealing with tax/cash out and banks back then.
You probably beleived the same malicious trolls who are telling you link is a scam.
The internet is not a friendly place new fren, dyor.

[Anonymous No.12768125]

>>12768099
Everyone is shilling link fuck face. There were legit reasons to be afraid tether would cause the crypto crash. Noone knew if tether even had the funds required to maintain the 1usd price and tether was being very private on the companies funds or how they maintained the 1usd. Tether was investigated by tge government last year as well. Anons were also saying that the btc etf would cause the crypto crash and it actually did.

[Anonymous No.12768128]

>>12768099
the evidence at the time was extremely convincing, still is. read the paper trail from European banks to Carribbean shells, a non-anon followed it all - great research. the auditor had just walked out the door at the time and the climate was tense. those tether pumps were insane - ha - bringing back some memories now

[Anonymous No.12768143]

>>12768125
I think this so called crash you speak of is just a market cycle. Imagine holding your btc like a new born baby since 2010 or 2014, jan 2018 was 'made it o'clock' for lots of people.
And there's good reason every fuck face is shilling link. It's clear that btc is moving into link in waves. Compare both charts and see what the other does. The manipulation is still real.

[Anonymous No.12768151]

>>12768143
noted, look and learn how to hide a pump in a dump

[Anonymous No.12768169]

>>12768151
Bingo. Millions have entered link but nothing of significance has left despite autists screaming about the price dumping every 5 minutes. If people zoom out a little and check the weekly or monthly.

[Anonymous No.12768190]

it is sad because same numbers for me/

[Anonymous No.12768192]

>>12768143
The release of futures allows speculators to pretend to hold an asset by betting on its future price with usd payouts and provide an easy to use/normie friendly user interface. If people don't bet on btc by buying btc then btc loses momentum it would have had and people start to cash out.

Im aware of market cycles and btc was due for a crash yes but please explain how futures are always released at the peak of every bubble. Manipulation of markets is illegal or carries heavy fines. In order to avoid being called out for obvious manipulation futures are always released during obvious bubbles. Pic related. Btc was slow expensive and difficult to learn to buy. The release if futures would of caused a crash no matter when they released it.

[Anonymous No.12768196]

>>12768169
link is the shitcoin you pick? There's 50 better cryptos over LINK. You idiots have been screaming about link for over a year now

[Anonymous No.12768198]

>>12768143
Also pic related. Cme futures were the obvioys cause of the crash in uranium.

[Anonymous No.12768261]

ATH 19,039,393,297
Current 960,028,839

[Anonymous No.12768412]

>>12766260
>Im unemployed too and literally living with my dad where he pays for everything. Everyday I want to stab myself I want this pain to just end.
Whenever a neet in this board belittles you for being a "wagie", remember that most of these "liberated" smug neets are actually parasites that just want to die every day because of how much of a burden they know to be to their relatives.

[Anonymous No.12768452]

>>12767711
Okay french nigger i have to agree i'd rather not get 100k if it means 400k goez to rapefugees

[Anonymous No.12768469]

>>12766507
Do we tell him?

S-sorry anon, that's not gonna happen.

[Anonymous No.12768478]

>>12766916
That same greed got him to the peak though. If it weren't for greed he wouldn't have reached that amount.

[Anonymous No.12768485]

>>12767901
This, nd it even counts for shit in the red but who are you trying to teach lol

[Anonymous No.12768487]

>>12767254
This. I likely would have put some in TUSD or USDC or DAI but not Tether.

[Anonymous No.12768499]

>>12767420
Depends how much money you have. If it's $100 then you only have $10 in savings and I wouldn't recommend gambling on Chainlink and crypto.

[Anonymous No.12768506]

>>12768499
So at what portfolio value does my distribution become ok?

[Anonymous No.12768531]

>>12768506
idk $200k...just post the amount what difference does it make

[Anonymous No.12768604]

>>12768531
Its over 200k.

[Anonymous No.12768615]

>>12766260
>have 30k of shitcoin
>decide to sell it for pennies since it goes nowhere
>later discover that it was pumped to 3$ per coin

[Anonymous No.12768651]

>>12766260
how could you have done that?
were you gambling on bitmex?

[Anonymous No.12768663]

$950k to $115k

Im retarded for not selling NEO at $100.

[Anonymous No.12768675]

>>12766260
no larp. 1.1 mil. currently at 20k. i cashed.out 25k and spent almost all of it on asian hookers so not a total waste

[Anonymous No.12768712]

>>12767711
Sorry frogbro.
You should get a romanian citizenship asap. Not even kidding
This year the gov't regulated a 10-16% for fiat gains from crypto. Gains aka money out in fiat minus the initial investment.

[Anonymous No.12769298]

>>12766961
>>12767254
This

>just cash out bro
not that simple

[Anonymous No.12769318]

>>12769298
>>just cash out bro
>not that simple


Yes it is

[Anonymous No.12769341]

>>12767254
Yeah you sum it up well.

[Anonymous No.12769363]

>>12769318
No it is not, you have no clue what you are talking about.

Counterparty risk is a big problem with all the sketchy shit exchanges that can decide to freeze your account at any time with no warning.

Tether is extremely risky and it is impossible to sleep through the night knowing you can wake up seeing the scam exposed and your tether being worth 0

There are only a handful of banks that allow any traffic from crypto exchanges and opening accounts with them is a massive pain in the ass, not to mention it usually takes weeks if not months to go through their KYC/AML bullshit

[Anonymous No.12769374]

>>12767102
>It's more lack of understanding and poor risk management/strategy.
If I was an experienced enough trader back then, I would've sold at the top. You're right. I don't understand the market during the peak of the bull run. Nobody here did.

[Anonymous No.12769383]

These stories are also a good reminder that now that everyone knows the trick and have learned the lesson, another bullrun so scary is never coming back. At least not one based on speculation.

[Anonymous No.12769384]

It makes my eyes bleed reading about all yous shitcoin baggies. Do real due diligence on VYST this long weekend and save yourself / recoup some losses. You’re welcome. I know you won’t even get off your lazy butts to read filings or other people’s spoonfed DD but I had to try. Where’s my bleach.

Just read this guys’ posts. https://investorshub.advfn.com/boards/Profile.aspx?user=1551

[Anonymous No.12769400]

>>12769374
If I would have had more experience with futures and margin trading I would have opened a 5-10x short from like 17k btc instead of opening just a 1x short like a pussy. Could have actually saved my portfolio...

[Anonymous No.12769406]

>>12766260
>Jan '17
how the fuck could you lose money during the 2017 bullrun?

[Anonymous No.12769408]

>>12767711
Pretty sure its 30 or 36.2% not anywhere near 80%

https://news.bitcoin.com/france-rejects-cryptocurrency-friendly-tax-amendments/

[Anonymous No.12769432]

>>12769408
>>12767711

[Anonymous No.12769456]

>>12766260
There is a guy who put one million USD into EOS RAM near the peak of the RAM bubble. I still see this fucker on r/EOS saying

> RAM has got to recover man!!

Nobody got fucked harder and dumber than this fucking guy.

[Anonymous No.12769464]

I went from 800k to 25k
Gonna kms soon if it doesnt move up till october

[Anonymous No.12769468]

why are you guys holding shitcoins?
desire to lose?

[Anonymous No.12769803]

Went from 2k to 270k, now holding a pathetic 14k.

Holding ICX was the biggest mistake of my life.

[Anonymous No.12770493]

you got greedy. know when to get out. set a goal and get out.

[Anonymous No.12770522]

>>12766916
You're describing a poor person, not an "honest working adult"

[Anonymous No.12770529]

>>12768478
This
>>12768487
This

This guy knows

[Anonymous No.12770823]

I'm in a sort of purgatory where I 2x-4x my money every few months and then my portfolio slowly bleeds out. I can't escape. My ATH was $200k and I've reached that twice, and I've reached 175k-185k three or four times. I've dipped back to 90k, 50k, 130k, 75k, and 110k each time. Do I just throw in the towel once I reach my fated 175-200k? Why can't I cross that threshold? Every time I reach it, I think, "Okay, this is the time. If I sell now, it will 5x, and I'll miss out on being a millionaire." And every single time, my portfolio gets cut in half, or worse. Every. Single. Time. I'm currently at 148k and I'm starting to wonder whether or not I'm being played with by some divine entity, like a cat does with a mouse before killing it.

[Anonymous No.12771004]

>>12770823
why not take out 100k every time you reach 200k? or better yet just 50k every time you reach 100k since you're so good at this getting from 50k to 100k should be relatively easy, this way you actually have something in your pocket even if your portfolio bleeds.


btw how are you this?

[Anonymous No.12771036]

>>12771004
>why not take out 100k every time you reach 200k?
I don't know why 200k the magic number. Part of the game is that I require the given amount of capital to reach those figures, so if I take half out, I cap my max upswing to half again. I guess some part of me just thinks that I should be able to overcome that hurdle and break into the next layer of the atmosphere.

[Anonymous No.12771079]

>>12766264
is OP retarded? absolutely, but if he was holding BTC or ETH he'd still have around 50-75k. and in 2 years that will probably be 500k. OP paid the price by holding shitcoins like TRX, XVG, etc.

unlike most people here I already make more money than I can spend at my day job so crypto is just a side gig. and I plan on making my first million with ETH.

[Anonymous No.12771087]

>>12771079
Why are you bullish on ETH long term?

[Anonymous No.12771098]

>>12770823
That's interesting, I also struggled to break 200.
First time in Dec 2017, down to 60k, then in April, then down to 110k. Then in summer 2018 I finally broke it and reached 650k now. Million is so close...

If you don't lose money in these market conditions you'll certainly make it in the next bullrun, that's my opinion. If a next bullrun happens.

[Anonymous No.12771112]

>>12771098
>Then in summer 2018 I finally broke it and reached 650k now
What changed? Help me!

[Anonymous No.12771116]

>>12771098
How the fuck did you manage to make money with crypto in 2018, with BTC falling? It boggles my mind.

Are you a daytrader?
Swingtrader?
Did you trade BTC and ETH only, or altcoins?
Or do you simply follow biz/twitter/youtube and learned how to spot trending coins?

[Anonymous No.12771119]

>>12771087
because banks and money transmitters are already competing with currency blockchains and it's a lost for currency coins. ETH is a dapp platform and has a better chance than other dapp platforms.

[Anonymous No.12771128]

>>12771116
Larper

[Anonymous No.12771148]

>>12771112
I learned shorting the market. Basically held fiat on bitfinex all the time and waited for tops to short my favorite altcoins like ETH or BCH. By the time that bitfinex became a bit shady I diversified into bitmex and binance.
Holding Bitcoin again (I never hold alts for more than a week), because it appears to be bottoming out at around 3k.
There is some good money to be made trading on bitmex also.
Holding shitcoins is just a losers game in this stage of the market.

[Anonymous No.12771150]

>>12766507
>24 hour volume 90k USD @ 2 cents
>Actually thinking this could somehow gain 50000%
>Actually thinking there could somehow be enough volume to cash out 3.5 mil with such shit volume even if it did 500x

Wew lad

[Anonymous No.12771162]

>>12771148
>I learned shorting the market
Do you use leverage?

[Anonymous No.12771185]

>>12770823
You go all in on coins?

[Anonymous No.12771192]

>>12771162
By definition you always use leverage when shorting, because there's always a liquidation price. My highest leverage (calculated using all my funds) was about 1x, maybe 1,5x.

[Anonymous No.12771210]

>>12771192
Right, I see. So is your game plan to just hold Bitcoin for the coming months, then? I see this as either the bottom or near the bottom (that's not to say that we don't have another 40% dip in the works), but I expect a macro trend reversal by late this year.

[Anonymous No.12771239]

Its all going to go another 95% down. I sold

I don't get you guys at all. The fuck is wrong with you? Sell everything now ffs, then walk away. This shit is a nothingburger turning into the world's biggest joke

[Anonymous No.12771282]

>>12771239
show us where the shitcoins touched you, anon
what did you HODL?

[Anonymous No.12771284]

>>12771210
Yeah that's my plan. If 3k doesn't hold I'm getting nervous that it might literally go to zero, but every day above 3k is a good day.

[Anonymous No.12771325]

These coins are all worthless, every single one of them.

All you guys talking about having 9k, 3k, 14k... imagine ZERO. Imagine NOTHING.

[Anonymous No.12771332]

>>12771282
I exited last year with 100% gains. That was 65% down from my ath.

[Anonymous No.12771352]

>>12766260
lost close to 3 million
however i did cash out at 500k which is more than enough, i'm a full on NEET now

[Anonymous No.12771417]

>>12771332
Nice, post your trades man

[Anonymous No.12771435]

At a real trading desk if you lose money, they reduce your stack, every time, until you are no longer a danger to your own capital. For instance, lose 5%, reduce stack by 25%.

If you lost 90%, regardless you are not working as a trader, but the firm would not be hurting because

100 - 5% = 95 - 25% = 72

72 - 5% = 68.4 - 25% = 51.3

51.3 - 5% = 48.7 - 25% = 36.5

Here you lost 15% but the desk still has 23.75+17.1+12.17 (taken off the table) + 36.5 still in the account or 89.52% of the initial capital. And maybe you should be making coffee and answering phones and not trading.

You guys should have been doing this all along, and you should still apply it now. For instance, if you are down 90% on your capital you probably shouldn't be playing with more than 2% of the capital you have left because you are more likely to lose another 90% than make a 1000% return

[Anonymous No.12771445]

>>12771417

I traded everything. 30MM taxable trades. I overtraded.

[Anonymous No.12771461]

>>12769432
Lol you don’t know shit about French taxes it’s not as simple...
it’s about 50-66% if you’re a regular trader
36,2% was drop out but concerned under 5K€ cash out
30% is for casual cash out for normies one time a year for a small amount

[Anonymous No.12771503]

So in France under actual regulations you can pay up to 660k$ for one million of profits
To pay for fucking rapefugees that we don’t want but you know the (((elites)))

[Anonymous No.12771745]

>>12771445
>30MM taxable trades
don't be retarded, you didn't have a 30M tax liability unless you profited 30M

[Anonymous No.12771792]

>>12766260
OUCH

[Anonymous No.12771872]

>>12771745
Somebody didn't do their taxes right.

take 30k and trade it 500 times =30MM

Thats gross taxable transactions not gain/loss

[Anonymous No.12771881]

>>12771872
you're a moron lol

[Anonymous No.12771931]

>>12771881
Yeah, aren't we all though. Key is putting limits on yourself so you don't end up rekt.

I paid 12k on 72k adjusted gross income and I sleep at night knowing the IRS will never buttfuck me financially. Plus I made money and lost zero initial

[Anonymous No.12771943]

>>12771931
you don't actually have to claim your trades if you did, though. You can just pay tax on the profit and be done with it
>reporting taxes on anonymous internet currency

[Anonymous No.12772032]

>>12771943
That's your decision. It is not anonymous. All these exchange trades are recorded- unless you used VPN and never kyc-aml'd yourself. 12% in tax and I don't ever have to worry about audit, is a good deal.

Plus I did a complete financial accounting and figured out how much of a moron I am so now I can make better decisions

[Anonymous No.12772059]

$480k at peak. Currently at $70k

[Anonymous No.12772197]

>>12772032
>That's your decision. It is not anonymous. All these exchange trades are recorded- unless you used VPN and never kyc-aml'd yourself. 12% in tax and I don't ever have to worry about audit, is a good deal.
I'm not advocating anything one way or the other, but unless the exchange sent you a tax document, they didn't send anything to the IRS. If you think Binance is reporting your trades, or that anything significant would come of your relatively small sum, you're mistaken. Also, your maximum liability is simply your net p/l, so the bottom line is that there's really no difference between the conservative approach and simply claiming your net p/l and having the docs on hand to back it up in practice.

[Anonymous No.12772265]

>>12772197
Not exactly. Tax reporting relies on the concept that you did your due diligence. You won't be able to just turn over your records, you have to show where you made an effort to substantiate the capital gains you reported, which is the same thing as calculating those cap gains. And if they decide to audit you, and it seems like you didn't do anything to calculate the actual cost basis of each trade, its true they likely won't make a project out of ruining your life. They'll just make a deal you can't refuse, which more than likely, will amount to half the amount of money in your accounts. Fight them on that, and they'll bend you over a table AND put you in jail. Not worth it for me.

[Anonymous No.12772322]

>>12772265
>will amount to half the amount of money in your accounts
on what basis? Your maximum tax liability is whatever the rate is for your total amount of capital. There's no 50% tax, especially on $70k or whatever you have in your account. Moreover, since the two sums are equal, due diligence is just some simple arithmetic, bank statements, money in and out. They're not going to arbitrarily tax you on 50% of the total sum in your account—that's suggestion is just utterly random and unprecedented. They're also not going to dedicate endless man hours to such a small sum. If you turned over a few million, then I'd be a bit more diligent with it, but even then, your perspective is a bit removed from reality in my opinion.

The IRS outright states on their website that even drug dealers should be reporting their income. They are not going to trawl through your Chinese exchange records, or even request them.

[Anonymous No.12772415]

>>12772322
Thats not a tax, its a penalty in lieu of tax. And its real. I'm not making this up, this happened to a friend of a friend. In his case, moving money to a bank account in a foreign country, which you have to report bcos of FINRA for amounts over 10k. Yes, he was trying to hide taxable income.

50% figure just combines the highest tax rate plus a punitive penalty. Its harsh but the alternative is worse.

[Anonymous No.12772439]

>>12772415
>Thats not a tax, its a penalty in lieu of tax
Huh? No, you can theoretically claim income tax on the sum, pay your dues, and move on. I'm not sure what the fuck your friend was doing moving cash between banks in an effort to hide taxable income—once it hits a bank, the IRS knows about it, full stop. Welcome to KYC/AML.

Do you have any examples of that 50% tax actually happening? That's not realistic. Penalties are absolutely nowhere near what you're suggesting.

[Anonymous No.12772453]

Don’t fuck it up next time

BTC / ETH / GRIN / POLKADOT / DFINITY / CHX / DUSK NETWORK / tZERO / SECURITIZE / LINK / HOLO / QNT / BNB

Everything else is shitcoins, Have two separate portfolios- one HODL and one trading. Automate profit taking and risk positioning for trading portfolio.

[Anonymous No.12773232]

>>12766343

damn. something like deep brain chain?

[Anonymous No.12773268]

Have and of you learned any lessons about volatility, or the perils of buying into vapourware?

[Anonymous No.12773623]

>>12766260
$1000 peak

220$ now

lmao imagine having that much money in and then not selling

[Anonymous No.12774122]

>>12766507
req'd

[Anonymous No.12774207]

>>12767254
This.This always gets forgotten.back then everyone was saying tether was going to collapse anyday, and i mean literally everyone, pundits, redditors, biz, you name it.Also cashing out, people were getting their doors kicked in, money frozen, obscene tax request for cashing out.Add to that pretty much every analyst was saying btc would be minimum 50k eoy 2018.The safest thing for most with the knowledge at the time was to hold.

[Anonymous No.12774292]

>>12766862

It took me a long time to really understand that saying but it's so true.

Money that comes quick and easy can be taken back just as fast. Same with women.

I don't know why you guys didn't cash some out at ATH. I cashed out half my stack when things got really crazy.

Bitcoin is never coming back. Another coin might go 100x but it's definitely not bitcoin

[Anonymous No.12774379]

>>12768196
LINK is up 60% in the last 6 months. Let's look at the charts of all your "better" shitcoins

[Anonymous No.12774654]

250k at peak
118k now
Started shorting in May 2018
I'm gonna make it

[Anonymous No.12774833]

>>12766378
>half
99% posters are bag holders
The “old” fags all made it and are gone
If you were here since 15/16 and didn’t buy Etherium you really should kill yourself