Crypto

What do you think about Crypto Currencies?

  • What's Crypto?

    Votes: 5 26.3%
  • Crypto is legit and it's the future.

    Votes: 9 47.4%
  • I know about it but I'm scared and no plans to buy.

    Votes: 5 26.3%

  • Total voters
    19

jon coleman

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surfboards,a fish simmons skip frye is at a Solid 4k right now, the 11 .0 double eagle is around 5k( 9out of 10 condition),there only going up, wish i owned them😜
 

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Curtis Guise

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surfboards,a fish simmons skip frye is at a Solid 4k right now, the 11 .0 double eagle is around 5k( 9out of 10 condition),there only going up, wish i owned them😜

Sounds kind of like vintage mountain bikes. My 1989/90 Yeti Ultimate is probably reaching the 4k range. And CNC aluminum parts from the 90's have been going for a premium the last few years. I've still made much more in my small crypto investment so far though. 🤣
 

Curtis Guise

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how do debt collector's go after crypto??, bet its a little hard to

Good question. Most exchanges require the KYC process (ID, address, SSN) to be verified and link a checking account or CC to be able to deposit USD so you can buy/trade crypto. And they report any you sell or convert which is a taxable event, similar to exchanges for trading stocks. So if the IRS can get their hands on your profits maybe debt collectors could also somehow. I have no idea.
 

Klaus

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its key to be the producer and to never let your coins touch the fiat/exchanges. ownership=freedom
 

jon coleman

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Good question. Most exchanges require the KYC process (ID, address, SSN) to be verified and link a checking account or CC to be able to deposit USD so you can buy/trade crypto. And they report any you sell or convert which is a taxable event, similar to exchanges for trading stocks. So if the IRS can get their hands on your profits maybe debt collectors could also somehow. I have no idea.
irs is now contracting w private debt collection adgencys for tax debt, i have heard, best thing is to not be wealthy on ' paper'some how😠
 

J_Edgar

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DogeCoin is looking promising. I think it will be the next BitCoin
I bought in on Dogecoin at about $.08 originally threw about $30 into it. Bought some more today at $0.17. It is at about $0.24 right now. Its been a steady rise for the last week and a half. Also have a few Ethereum Classic that are returning quite while right now. I think the IPO of Coinbase yesterday is driving some of the gains.
 

jon coleman

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im waiting for it to top out before i buy( i love all the negative propaganda ^by who??, the central banking thuggs
 

J Prich

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Any of you guys really up on this stuff? Can do it via DM if no one wants to share publicly but as a newb I’m working through the basics. Got started with Coinbase and a small chunk of Bitcoin.

Question 1 - Coinbase vs Coinbase Pro...what’s best? My assumption is the benefit of Pro is lower transaction fees? Any other pluses of one vs the other?

Question 2 - Wallet options. Right now I just have a small amount in Coinbase. Do you need to additionally add a wallet platform to secure that further? If so, any recommendations?
 

Curtis Guise

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Any of you guys really up on this stuff? Can do it via DM if no one wants to share publicly but as a newb I’m working through the basics. Got started with Coinbase and a small chunk of Bitcoin.

Question 1 - Coinbase vs Coinbase Pro...what’s best? My assumption is the benefit of Pro is lower transaction fees? Any other pluses of one vs the other?

Question 2 - Wallet options. Right now I just have a small amount in Coinbase. Do you need to additionally add a wallet platform to secure that further? If so, any recommendations?

I've used Coinbase since 2017 and haven't used Coinbase Pro yet. I also signed up for other exchanges to get coins that aren't available on Coinbase. If you want to be more secure you can use a wallet. Coinbase has an app called Coinbase Wallet and there are many others. I've heard good things about MetaMask like Michael mentioned but haven't used it yet. I think they have a Chrome extension also.
Different coins/tokens have their own wallets also. Like THETA has the Theta Wallet. Cake Wallet is used for Monero (XMR, a privacy coin)

I've heard good things about hardware wallets like Trezor Trezor Hardware Wallet and Ledger. Ledger Nano S

Also within Coinbase if you have your crypto sitting in there it says its in a wallet when you are looking at each crypto's balance. But its technically not a wallet if I understand it right. They have a Vault option where it takes extra steps to withdraw your crypto if you put it in there. That could take to much time if you were trying to trade/sell at a peak. But if you are just storing it for long term that might be a good option. "A vault is a great place to store your crypto for the long term. Features include time-delayed withdrawals, multiple approvers, and offline storage."
 

Klaus

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I've used Coinbase since 2017 and haven't used Coinbase Pro yet. I also signed up for other exchanges to get coins that aren't available on Coinbase. If you want to be more secure you can use a wallet. Coinbase has an app called Coinbase Wallet and there are many others. I've heard good things about MetaMask like Michael mentioned but haven't used it yet. I think they have a Chrome extension also.
Different coins/tokens have their own wallets also. Like THETA has the Theta Wallet. Cake Wallet is used for Monero (XMR, a privacy coin)

I've heard good things about hardware wallets like Trezor Trezor Hardware Wallet and Ledger. Ledger Nano S

Also within Coinbase if you have your crypto sitting in there it says its in a wallet when you are looking at each crypto's balance. But its technically not a wallet if I understand it right. They have a Vault option where it takes extra steps to withdraw your crypto if you put it in there. That could take to much time if you were trying to trade/sell at a peak. But if you are just storing it for long term that might be a good option. "A vault is a great place to store your crypto for the long term. Features include time-delayed withdrawals, multiple approvers, and offline storage."
There is a tremor laying around here somewhere... never used it. Next meeting it's yours.
I trust a piece of paper more than any silicon chip.
 

Curtis Guise

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There is a tremor laying around here somewhere... never used it. Next meeting it's yours.
I trust a piece of paper more than any silicon chip.

That's my hangup with the Trezor and Ledger. But you can have paper backups for those, or Trezor has this backup capsule Cryptosteel Capsule Duo for your private keys.

Or this titanium cryptotag to backup a seed / recovery words. Cryptotag Zeus

I'm sure there are many other options like those but I have not researched any of them.
 

J Prich

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Bitter sweet crypto week. Less cool for folks already in the game but great time to jump in and get started now.
 
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