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/biz/ - Business & Finance

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21893961 No.21893961 [Reply] [Original]

Is there any point in spending like $20 and $50 on coins or is this basically like lottery ticket type of retarded

>> No.21894011

sir turn 50 in 10k slowly then all in PNK wait for 2 years sir and golden tuktuk not hard sir

>> No.21894061

>>21893961
This is a very good question.

>> No.21894092

Im gonna spend 100$ to RSR and 100$ to Harmony

>> No.21894121

>>21893961
Dunno go buy fetch

>> No.21894163

>>21893961
50 is really the minimum. and still not worth it.

better to move 200+ minimum.

>> No.21894190

>>21893961
No markets are dry as fuck. Zero liquidity

>> No.21894218

you spend 20% on transaction fees

>> No.21894230

>>21893961
Why not both? For every nominal sum you put in crypto, buy a lotto ticket

>> No.21894251
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21894251

>>21893961
Find a small cap coin like xPOP. Only 100 token, each at $360. Pump is gonna be insane.

>> No.21894285

>>21893961
Dumb question. How does this work with taxes? If I accumulate anywhere from $20 - $100 a week in a certain coin, how the hell do I figure how how much tax I owe when I cash out?

Example: first week I buy a coin at $10 a coin, the next week I buy more of the same coin at $12, then $15, etc. Then once the coin hits $30 I start to cash out slowly. Do I simply pick and choose which buy-in point I'm paying taxes on?

>> No.21894312

>>21893961
Lottery tickets don't let you read their whitepapers beforehand. At that amount you can find a 10x then do that again with your new $500 then do it again with your $5000. More risk more reward. You cant make little 5% swing trades cause youll get eaten up in fees but you knew that disadvantage before you even posted so either nut up or shut up.

>> No.21894315

i mean, only thing id recommend for you is get in really early on newly listed hyped up coins then you can easily 2-5x from there. Then rinse and repeat till you get to 1k.

>> No.21894410

>>21893961
>Is there any point in spending like $20 and $50 on coins
No, people who do that are delusional. If you want life changing money you're going to have to be more risky with your investments.

>> No.21894447

>>21894285
I think it is FIFO. So you would get taxed for the gains earned on each chunk you bought relative to their buy in points separately. Basically it can become an accounting nightmare quickly if you're doing a lot of trading/swinging.

>> No.21894450

>>21894285
Google first in, first out and last in, last out.

>> No.21894473

>>21894285
Record all your transactions in a spreadsheet and do what you can at tax time to pay what you think you owe based on your understanding of the laws in your jurisdiction. Not much you can do other than that if you want to remain above board, so to speak

>> No.21894508

>>21894285
Use a site like cointracker to do it all for you.

That site will process all of your wallets for you then TurboTax can import from there

The fact no one knows how to do this is 100% proof no one on /biz/ has ever made it

>> No.21894621

>>21894251
This is retarded. Supply doesn't determine how much a coin can / will pump

>> No.21894676

>>21893961
so the first thing you need to do when dealing with small amounts is make sure your purchase is during an etherum low useage period, basically, wait until Asia is asleep.

Transaction fees can go from 3 dollars to 14 dollars over the course of a day based on etherum usage.

>> No.21894762

>>21893961
i put £50 on srk and got like £900 out of it before everyone else dumped it :P

>> No.21894798

>>21894251
truly retarded, if you don't have some sort of ownership stake in xPOP and are just spewing these lies to trick others into buying an obvious scam; kill yourself.

>> No.21894861

Depends, I started with $38 got about 200$ now, is just a matter of time till I find a good shitcoin and this turn to 1000$ and keep going like that, of course I can lose some of it in the way, but I'm in collage and from a shit country so I can't afford to buy big bags so the only option was to start small and play smart and hopefully by the time I finish college I will have some money, and anything is way better than nothing

>> No.21894868

>>21894621 >>21894798
Stay poor faggots

>> No.21894898

>>21894861
Damn lol that’s kinda petty for me. I’m at the point where a 1000 is ok but basically nothing but investing thousands feels like too risky

>> No.21894952

>>21894868
yeah you and your ten friends with your 10 tokens each have a great speculative market. You are a parents worse nightmare, a child no one could love.

>> No.21894987

>>21894898
Yeah 1k is fine, I just don't put in more because I really can't