Cryptocurrencies:

Robert Herndon said:
Here's Bitcoin's claim to fame - two chaps with Bitcoin currency can make peer-to-peer untraceable transactions. That's where the Bitcoin craze comes from...
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So it works great for the Mob, or Terrorist cells to move large sums of real illegal money ---- legally-- so its not a PONZZI scheme its a LAUNDRY scheme

I can honestly say I have never seen a Bitcoin accepted here sign in the swamp
 
eSGEe said:
So it works great for the Mob, or Terrorist cells to move large sums of real illegal money ---- legally-- so its not a PONZZI scheme its a LAUNDRY scheme

I can honestly say I have never seen a Bitcoin accepted here sign in the swamp
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It can be used, like many things, for unlawful intent, but, so can lots of things...
 
Robert Herndon said:
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Gahr, I have seen some restaurants and Ubers here in SoCal with the "Bitcoin Accepted Here" signs. However, I am skeptical of the currency, but interested in the concept behind it - blockchain technology, etc., so, much like electric car battery technology, I invest in the raw materials (Lithium-Ion and Graphene-Ion) and not in a specific manufacturer.

Here's Bitcoin's claim to fame - two chaps with Bitcoin currency can make peer-to-peer untraceable transactions. That's where the Bitcoin craze comes from...






The profit is phenomenal...$10,000 invested in Litecoin, in January 2017 (@ $3.07/coin) is worth $1,006,413 as of this morning. Most all my peers have already cashed out. Believe me, this is old investment news.
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So, it can be used as payment in a few places where you can use regular money anyway? I still don’t really get it...

I get why you invest, Robert, but I just don’t get the idea of Bitcoin. If it isn’t really used for anything, why was it created?
 
Gahr said:
So, it can be used as payment in a few places where you can use regular money anyway? I still don’t really get it...

I get why you invest, Robert, but I just don’t get the idea of Bitcoin. If it isn’t really used for anything, why was it created?
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The biggest "benefit" of Bitcoin is it allows people to buy and sell without government or banking insight. The banks cannot place a value on it. The IRS has declared officially that cryptocuurencies are not "money" and that declaration has actually impeded their efforts to force the coin firms to turn over their ledgers. As with anything that the government cannot control, they fear it. The public is getting sick of the governments telling them how to live, so the "outlaw" nature of the cryptocurrency appeals to many.

My position is simple. Make huge profits, pay the tax man his share and everyone is happy....
 
The fact that it is hard to control makes me even more sceptical. It makes it easier for people to avoid paying tax (something which REALLY pisses me off), and makes things easier for criminals. (I'm a firm believer in contributing to the common good and welfare system through paying a fair amount of taxes...)

I still have no problem with your invstments, though. As long as your actions are legal and transparent, I guess it's ok.
 
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The problem is the blurred line between tax avoidance and tax evasion. Tax evasion is clearly illegal, but some forms of avoidance get frowned upon, and many celebrities have been criticised and shamed over here for what are actually perfectly legal ways of minimising their tax burden. The problem is that the people doing the criticising are perfectly happy with paying money into tax-free pensions, ISAs etc. So they are doing exactly the same thing, just to a lesser degree. This makes me suspect that the motivation is not fairness, but jealousy.
 
DonP said:
The problem is the blurred line between tax avoidance and tax evasion. Tax evasion is clearly illegal, but some forms of avoidance get frowned upon, and many celebrities have been criticised and shamed over here for what are actually perfectly legal ways of minimising their tax burden. The problem is that the people doing the criticising are perfectly happy with paying money into tax-free pensions, ISAs etc. So they are doing exactly the same thing, just to a lesser degree. This makes me suspect that the motivation is not fairness, but jealousy.
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I see your point, and maybe I should have used the expression "tax evasion" instead. I'm a firm believer in contributing to the common good, but as long as people play by the rules it is difficult to be fair when criticizing.
 
Gahr said:
The fact that it is hard to control makes me even more skeptical. It makes it easier for people to avoid paying tax (something which REALLY pisses me off), and makes things easier for criminals. (I'm a firm believer in contributing to the common good and welfare system through paying a fair amount of taxes...)

I still have no problem with your invstments, though. As long as your actions are legal and transparent, I guess it's ok.
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I agree. Gahr. When I was selling Von Herndon's, the transactions were largely cash in person, and I still withheld the tax at the appropriate rate...even though nobody really knew the sales were taking place.
 
I knew someone who bought a lot of Bitcoins back in late 2015. I bet a huge profit was made by that now since the price has gone up significantly on Bitcoins. I was a bit skeptical about it at the time since I've never really heard of it. I guess I missed the boat.:(


;>)/
 
BlackSG91 said:
I knew someone who bought a lot of Bitcoins back in late 2015. I bet a huge profit was made by that now since the price has gone up significantly on Bitcoins. I was a bit skeptical about it at the time since I've never really heard of it. I guess I missed the boat.:(


;>)/
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A lot of people missed it. I didn't understand it back then....
 
BlackSG91 said:
I knew someone who bought a lot of Bitcoins back in late 2015. I bet a huge profit was made by that now since the price has gone up significantly on Bitcoins. I was a bit skeptical about it at the time since I've never really heard of it. I guess I missed the boat.:(


;>)/
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I understand the dynamics of the market now. The trick is invest ultra low - in coins worth less than 1 full cent - then just wait.


For example...Back in January of 2017, Vert Coin was 0.029 cents per coin. This morning, Vert Coin was selling for $7.81/coin. If you had dropped $1,000USD on Vert Coin at 0.029 cent each on January 2, 2017, this morning, your investment would be worth $269,304.22USD.

Watch Tron Coin (TRX) - I see this as one of the sub-1 cent coins that will explode in the near future....
 
In December of last year Bitcoin Investment Trust was trading on the NYSE for $80/share. Today it's $2,500/share and climbing. There are many ways to invest, but you have to be watching for emerging trends...
 
The new wave of electric vehicle will inflate lithium ion holdings. But that's old news. the new wave of battery technology is Graphene. That's where the next big thing is going to develop....
 
As with any investment. one should always proceed with due caution because there is risk. I know people who lost everything in real estate...
 
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