crypto currency investing, anyone?

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What is the tax rate on gains from crypto? Are they treated the same as short or long term gains from any stock purchase? I noticed last year that there's a specific line on one of the federal tax forms asking about gains from crypto, but didn't look into it any further since I don't invest in crypto.
Just changed last year. They’re treated just like stock gains and any other capital gains.

If you buy and sell a crypto for a gain and held it less than 12 months, it’s taxed as income at whatever rate your income bracket puts you in.

If you hold it in crypto and never cash out for those 12 months, it’s taxed at the capital gains rate
 
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I went for fixed rate returns, specifically Tax Sheltered Annuities , 403B. I locked in at 7%.. I dont know anyone who wouldnt have gone for 7% garunteed, Over the past 28 yrs. Plus your contributions are taken off the gross amount of your earnings, and in my case it put me in a lower tax bracket.
My entire gambling experience was $50 lost gambling while on a cruise ship.
The moral of The Rabbit and the Tortise
Race applies here.My grand mother put a small amounts into Exxon stock every pay period. Over a 50 yr period it was worth 800K
Of the 4 other siblings i have, Im the only one retired, early. They will be working for at least the next 10-15 yrs.
 
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I went for fixed rate returns, specifically Tax Sheltered Annuities , 403B. I locked in at 7%.. I dont know anyone who wouldnt have gone for 7% garunteed, Over the past 28 yrs. Plus your contributions are taken off the gross amount of your earnings, and in my case it put me in a lower tax bracket.
My entire gambling experience was $50 lost gambling while on a cruise ship.
The moral of The Rabbit and the Tortise
Race applies here.My grand mother put a small amounts into Exxon stock every pay period. Over a 50 yr period it was worth 800K
Of the 4 other siblings i have, Im the only one retired, early. They will be working for at least the next 10-15 yrs.
Totally agree. Investing is a “long game” situation, or at least should be for the average person. Day traders are a different breed, and it’s an all-encompassing endeavor. Like my friends I mentioned before, you’ll be watching the market CONSTANTLY, and constantly reading up on market (and world) news. If that sounds like fun to you, go right ahead. I’d rather buy stable stocks and not have to watch them day to day. Just let them sit and grow until I retire.

My 401k is setup that way, and I trade the same way: conservatively.
 
I think the whole crypto currency thing is still in its infancy. Probably tons of money to be made there. Figuring out how to do it is another thing. Not sure I have the stomach for it at my age….
 
Agreed. I also think once the gubment gets their fingers in it, it’ll drop, then stabilize and follow the dollar.
 
A lot risky endeavors are characterized by what I call “situational intelligence “. If you take a risk and are successful, the you are a genius, visionary, adventurous, etc. If take a risk and fail, then you are reckless, stupid, nitwit, etc.

Nothing may have been really was different about how it started in either case. How the situation turns out determines how intelligent you look. It may have been skill or good luck or bad luck. All looks the same after the fact.
 
I'm a Daytrader, I don't Constantly read news etc.
I have a "basket" of about 12 stocks I know intimately, and play one or two at a time. My day starts at 6:30 am Pac, I usually trade till 9ish, tee off for 9 holes or whatever, - back to trade the last hour, noon till 1pm.
- I don't own a cell phone ! !
Daytrading is more for sport .
I also have retirement funds that is my long game, I have Apple since $70, it's split twice since I bought it, similar with Amzn, In and outta NVDA, MSFT etc.

Totally agree. Investing is a “long game” situation, or at least should be for the average person. Day traders are a different breed, and it’s an all-encompassing endeavor. Like my friends I mentioned before, you’ll be watching the market CONSTANTLY, and constantly reading up on market (and world) news. If that sounds like fun to you, go right ahead. I’d rather buy stable stocks and not have to watch them day to day. Just let them sit and grow until I retire.

My 401k is setup that way, and I trade the same way: conservatively.
 
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Totally agree. Investing is a “long game” situation, or at least should be for the average person. Day traders are a different breed, and it’s an all-encompassing endeavor. Like my friends I mentioned before, you’ll be watching the market CONSTANTLY, and constantly reading up on market (and world) news. If that sounds like fun to you, go right ahead. I’d rather buy stable stocks and not have to watch them day to day. Just let them sit and grow until I retire.

My 401k is setup that way, and I trade the same way: conservatively.
Crypto is not for everyone. It’s also a long game, just with more potent swings.
 
I went for fixed rate returns, specifically Tax Sheltered Annuities , 403B. I locked in at 7%.. I dont know anyone who wouldnt have gone for 7% garunteed, Over the past 28 yrs. Plus your contributions are taken off the gross amount of your earnings, and in my case it put me in a lower tax bracket.
My entire gambling experience was $50 lost gambling while on a cruise ship.
The moral of The Rabbit and the Tortise
Race applies here.My grand mother put a small amounts into Exxon stock every pay period. Over a 50 yr period it was worth 800K
Of the 4 other siblings i have, Im the only one retired, early. They will be working for at least the next 10-15 yrs.
I’m curious, 7% the minimum or is that the locked in rate? So can you make more the the 7 percent?
 
I'm a Daytrader, I don't Constantly read news etc.
I have a "basket" of about 12 stocks I know intimately, and play one or two at a time. My day starts at 6:30 am Pac, I usually trade till 9ish, tee off for 9 holes or whatever, - back to trade the last hour, noon till 1pm.
- I don't own a cell phone ! !
Daytrading is more for sport .
I also have retirement funds that is my long game, I have Apple since $70, it's split twice since I bought it, similar with Amzn, In and outta NVDA, MSFT etc.
Maybe my friends are just idiots…haha! Actually, I know my friends are idiots, but that’s for another thread.

I’ve been watching NVDA, I need to just buy some and stop being a spectator.
 
NVDA is one of my core stks. It has the proprietary foundational platform most new chips makers are gonna use .

Maybe my friends are just idiots…haha! Actually, I know my friends are idiots, but that’s for another thread.

I’ve been watching NVDA, I need to just buy some and stop being a spectator.

I takes years to mellow, and learn a style that suits you.
I lost a lot when I started, cuz I tried too hard, couldn't admit I made a mistake, and "hoped" for a reversal insteada getting out .
 
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Bought -
Live nation . LYV - (dependant on Covid)
Charge point. CHPT
Matterport. MTTR

This morn, longer hold .
With a "stop loss" In case of illegitimate " tweets"
 
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There is a really good interview on Tucker Carlson Today with Michael Saylor. The title is Crypto Craze. It should be available at tuckercarlson.com and at Fox Nation.
 
For the dummies in the room, can someone even explain what the heck cryptocurrency is? How does it even have a value? It seems like a made up commodity of sorts.
 
For the dummies in the room, can someone even explain what the heck cryptocurrency is? How does it even have a value? It seems like a made up commodity of sorts.
see below quotes


I researched crypto currency’s awhile back. It is pretty mathematically complex. I didn’t understand most of it. From what I understand, crypto currency’s exist on a world wide network of mostly private computers that process crypto “transactions”. These transactions are the movement of crypto currency. These private computers process complex mathematical equations necessary to maintain the security of the currency.

The private computer owners get paid in crypto currency for processing transactions on their computers. So more money is “printed” daily.

The crypto currency is backed by nothing, but then again so is the dollar…..

Meh i disagree with that sentiment. Granted, a year ago, I was completely in agreement with you. Heck 7 months ago I was. Until I began to research it heavily. I spent several months reading and learning about it. Some are ponzy schemes for sure, others aren’t.

Digital currencies like Bitcoin and Etherum are legit and are here to stay for the foreseeable future. These two actually offer a service and return of that service.

now the other random alt coins and meme coins like Doge and Shib will be lucky to survive another year because they don’t actually do anything or offer anything.

Keep in mind too, the US Dollar only has value because it’s widely accepted as a payment for goods and services. In actuality, it’s just paper, 25 percent cotton, 75 percent denim. And some special ink. But it’s backed by the belief that it holds some sort of value and that the value is transferable from one person (or entity) to the next. But in actuality, the dollar is just a piece of paper that says the Federal reserve owes the holder of that piece of paper, 1 dollar. The currency we have now is for all practical purposes, a piece of debt.

anywho, as more and more places pick up cryptos like Bitcoin, the only difference is that instead of having a piece of paper, you now have a unique, several hundred character long, hyperlink.

bottomline is this, anything outside of the Bitcoin and Etherum coins, is a gamble. But those two are only going to go up in value.

Ehh in some coins yes. Doge and Shib and the other countless “meme” coins are definitely that way.

Bitcoin and Etherum, no. Not entirely. Only a portion.

Bitcoin and Etherum actually offer a service. It gets into computer programming, but a large portion of the value of those two are in the services they provide. Etherum runs on a protocol that processes millions upon millions of banking transactions for minute. This service is paid from the banks and credit card companies in the form of Etherum coins which are then sold for cash .
 
I believe the younger generation will use this stuff. Just my opinion…l do own multiple cryptos
 
I have no clue what it is, and have no interest in learning crypto anything. Too old for the roller coaster. We had stock from my wife's employer. They had an offer where you would buy 2 they would give you 1. Then it went to 3 get 2, so she used her check to load up, and we basically lived on my pay. We sold some and diversified in different stocks, but we found ourselves looking daily at the market and that will drive you crazy. We went to Schwab and let them invest in mutual funds. Three years later we heard from them once. Two of the three were making a little gain and the third was doing well, very well. I dropped Schwab and the two stragglers and started to read up on fund info, as I was retired and needed something to do at night, other than TV. There are a few places were you can reliably research funds and that's what I did. We have done well with some of the tech funds tripling in 8 years, but you need to ride it out when things get rough.

LIKE TODAY ! :mad::mob::( ..:)
 
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That being said, I still prefer cash and a handshake. But it’s neat to stay abreast of developments and trends. Especially when it comes to financial trends.
 
I invested $20 across three currencies. After paying 10% on each to invest, I had $17 actually working for me.

I now have $15 on my balance sheets.

Taking off like a rocket. Any day now.
 
No offense, but investing $20 split between 3 stocks is a complete waste of time (and money), especially after accounting for fees.
 
No offense, but investing $20 split between 3 stocks is a complete waste of time (and money), especially after accounting for fees.
Unless they’re penny stocks, yeah. I mean a 30 percent fee sucks.
 
If you are going to trade anything, learn to read a chart. My suggestion is learn about supply/demand zones, support/resistance levels, standard deviation levels and learn how to draw trendlines. Yes it even works on crypto. Most all markets are not driven by retail participants like people in this forum. It's computer, algorithm driven.... millions of calculations going on based on split second action.

Here is an example of support/resistance levels. Nasdaq Futures 4 hour timeframe. You go from a wide view and narrow down to a 1-3-5-15 minute chart to dial in the level more precisely.
upload_2021-11-30_15-1-32.png


All those levels were drawn to the left of that purple line, before anything happened on the right side of line. The market works in cycles. A move in this particular vehicle from the lowest green line to highest red line = approx $9200

The other thing I will never understand, retirement accounts and investments are usually the biggest assets most people have excluding their home, yet they take no interest in the process. Hand it blindly over to someone else to manage... crazy.

Most mutual funds suck when compared to the benchmark they follow. If you have an SP500 mutual fund, just by the SPY etf/stock... less fees and you can do things like sell covered calls to juice returns. Simple stuff, reinvest dividends and move on.

My mom got sucked into the annuity trap... safer return BS. Instead of having 10x the money she would have if she followed my suggestion, she had 3x... Yep safety is garbage if your time horizon is longer. She grew up at the end of the depression era and feared losing all her money. I got that. If you have a pension in retirement, stay away from the lure of "Safe" returns... Just my 2 cents.
 
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Agreed. Learning to read a candle chart is easier (to me) than understanding how a torque converter works.

My mutual funds have done incredibly well, considering the effort I put into them. Stable, secure growth without the legwork? Sign me up.
 
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