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/biz/ - Business & Finance

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56565880 No.56565880 [Reply] [Original]

Let's say I buy one bitcoin for $34k, and then sell it when it pumps to $35k

Wouldn't I have made $1k then?

What exactly is wrong with this plan or would this work yes or no?

>> No.56565890

thats so smart you could do this 30-40 times a day and be rich!

>> No.56565891

>>56565880
Has /biz/ become this retarded?

>> No.56565898

you could be waiting a short amount of time, you could be waiting a long amount of time
it could also keep pumping, or vice-versa with a subsequent dumping after you buy

>> No.56565954

>>56565880
I do this whenever I need some extra money. For me it has worked every time, made probably $1 million like this now.

>> No.56565967

>>56565891
Good evening sirs. Do the needful and answer OPs question or I will shit on your street.

>> No.56565981

You will have made $1k if you sell at $35k, but what are the chances of that?

>> No.56565990

>>56565981
50/50 I guess, it either goes up or down

>> No.56565999

>>56565891
I would say that he is trolling, but I've encountered people on here too many times that have said the most obvious stuff and act like they are geniuses. So I do not know.

>> No.56566003
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56566003

>>56565880
holy shit I think you found a loophole
this could bring down the entire system...

>> No.56566010

>>56565880
It may not go up after you buy it sir.

>> No.56566012

dont do it op bitcoins is a scam

>> No.56566015

>>56565880
Yes you would make $1k but that $1k will be worthless in 10 years while 1 btc will be equivalent of $2-4mil in today's dollars at the lest.

>> No.56566017

>>56565880
You'll have to pay about $200 in short term federal capital gains plus state capital gains

>> No.56566036

>>56565880
>>56565890
That's my strategy. But i only do it once a day because $1k is enough money for me.

>> No.56566354

>>56565880
Yeah, minus trading fees and taxes.

>> No.56566405

Holy fucking top signal, Batman

>> No.56566472

>>56565880

holy shit, brilliant strategy, why didn't I think of that???

>> No.56566938

>i buy thing for X and I sell it for X+1 did I make a profit
????

>> No.56567009

>>56565880
>What’s wrong with this plan
Fees. It’s supposed to be fucking p2p but exchanges are basically banks for crypto. The issue lies in people being too retarded to manage their own money so they need to trust someone else.

>> No.56567036

>>56565880
Speak to your account regarding tax.