Official Bitcoin Thread

[andrewstevens]

Hey guys! I've dipped into cryptocurrency a little back when I was in college. Did a little research, but as a broke college student, I never really committed to it (dumb move). I was wondering if you sell your currency, and lets say its a large amount, wouldn't the IRS audit you if the money is coming in if you don't report it as income?

 

[myselfonline]

Yeah set up your coinbase link your bank account or debit. From there you can buy ltc,btc and eth.

Now you move usd or pieces of these coins to an exchange like poloniex. From poloniex you can buy alt coins with whatever you xfrd from coinbase

Sign up for poloniex and you can hold your altcoins you purchase there on the exchange until you figure out your long term wallet situation

#1 thing is do your homework, but also dont be afraid to start off with 50-100$ [if if can afford it] and learn how to send and recv funds, learn the exchange learn the wallet game.

If you are starting off small and going the poloniex route for trading after purchasing from Coinbase, poloniex has a 1 coin minimum for ether. Meaning you have to deposit 1 ether, if you deposit a fraction of a coin, it will hold it until you deposit the rest of it to equal to 1 coin.

 

[stick]

Been watching this thread past couple of days. I want in except I don't know much. I am basically going to go on different crypto reddits to get a better understanding. If I wanted to start today, all I need is a wallet(Coinbase) and I'm good to go? From the basic reading I did, it seems like ETH is the move.

Yeah set up your coinbase link your bank account or debit. From there you can buy ltc,btc and eth.

Now you move usd or pieces of these coins to an exchange like poloniex. From poloniex you can buy alt coins with whatever you xfrd from coinbase

Sign up for poloniex and you can hold your altcoins you purchase there on the exchange until you figure out your long term wallet situation

#1 thing is do your homework, but also dont be afraid to start off with 50-100$ [if if can afford it] and learn how to send and recv funds, learn the exchange learn the wallet game.

Yeah set up your coinbase link your bank account or debit. From there you can buy ltc,btc and eth.

Now you move usd or pieces of these coins to an exchange like poloniex. From poloniex you can buy alt coins with whatever you xfrd from coinbase

Sign up for poloniex and you can hold your altcoins you purchase there on the exchange until you figure out your long term wallet situation

#1 thing is do your homework, but also dont be afraid to start off with 50-100$ [if if can afford it] and learn how to send and recv funds, learn the exchange learn the wallet game.

If you are starting off small and going the poloniex route for trading after purchasing from Coinbase, poloniex has a 1 coin minimum for ether. Meaning you have to deposit 1 ether, if you deposit a fraction of a coin, it will hold it until you deposit the rest of it to equal to 1 coin.

Repped, good to know. I was gonna grab $100 worth of ETH to use on Polo to get the hang of things like Lobcity said. Now I'll just grab 1 ETH when (if, I guess) I see it dip a nice margin.

 

[sneaker savant]

 
i ordered when it was back ordered, and yah took around 1.5wks. but since i got mines, maybe they have a new batch?  contact them and they are pretty responsive

Repped. Thanks!

 

[geeplus]

 
Hey guys! I've dipped into cryptocurrency a little back when I was in college. Did a little research, but as a broke college student, I never really committed to it (dumb move). I was wondering if you sell your currency, and lets say its a large amount, wouldn't the IRS audit you if the money is coming in if you don't report it as income?

Sure if you convert your BTC back to USD in large amounts.

The purpose of BTC is to keep it in BTC and pay with BTC to avoid uncle sam.

 

[putting in work]

Hi guys I got through they finally sent the two small amounts to my account.

Kind of tight I am buying at high price though but hopefully I can make some money.

Those coinbase fees are a B though...sheesh.

I now have to wait a few days but for them, but I am going to Aruba for a week hopefully when I get back the market raises up.

Only starting out with $5K though.

I think I'm going to make more money messing with the smaller coins though.

 

[geeplus]

Hi guys I got through they finally sent the two small amounts to my account.

Kind of tight I am buying at high price though but hopefully I can make some money.

Those coinbase fees are a B though...sheesh.

I now have to wait a few days but for them, but I am going to Aruba for a week hopefully when I get back the market raises up.

Only starting out with $5K though.

I think I'm going to make more money messing with the smaller coins though.

Good stuff, Welcome to the club.

 

[putting in work]

FYI - my Cryptosteel just came in today.  Took about 1.5wks coming from UK.  This thing is SOLID.  Water and Fire proof, and pretty much unbreakable!  I highly recommend this if you are serious about backups and safety of your coins.

http://cryptosteel.com/product/cryptosteel-anykey/

Hey fap what is this thing? What is the purpose or what does it do?

I thought it was a hard drive but when I google could not see.

I am on mobile not desktop and my service is acting a mess.

 

[putting in work]

Hi guys I got through they finally sent the two small amounts to my account.


Kind of tight I am buying at high price though but hopefully I can make some money.


Those coinbase fees are a B though...sheesh.


I now have to wait a few days but for them, but I am going to Aruba for a week hopefully when I get back the market raises up.


Only starting out with $5K though.


I think I'm going to make more money messing with the smaller coins though.

Good stuff, Welcome to the club.

Thanks...

 

[sneaker savant]

Hey fap what is this thing? What is the purpose or what does it do?

I thought it was a hard drive but when I google could not see.

I am on mobile not desktop and my service is acting a mess.

It's a cold wallet. Basically just a few pieces of steel that you put your private key on.

Supposedly indestructible. 

I've been eyeing them for a while, but just copped one off of fap's rec...

 

[putting in work]

Hey fap what is this thing? What is the purpose or what does it do?


I thought it was a hard drive but when I google could not see.


I am on mobile not desktop and my service is acting a mess.

It's a cold wallet. Basically just a few pieces of steel that you put your private key on.

Supposedly indestructible. 

I've been eyeing them for a while, but just copped one off of fap's rec...

What private key?

 

[geeplus]

What private key?

u got some reading you need catch up on.

when you put btc into a wallet it will ask you to create a private key, to protect your btc/crypto

 

[johnny cakes]

Hi guys I got through they finally sent the two small amounts to my account.

Kind of tight I am buying at high price though but hopefully I can make some money.

Those coinbase fees are a B though...sheesh.

I now have to wait a few days but for them, but I am going to Aruba for a week hopefully when I get back the market raises up.

Only starting out with $5K though.

I think I'm going to make more money messing with the smaller coins though.

Welcome..good start up amount

 

[jkallday]

Gentleman, what a friggen week! BTW for those that are aware there's some arbritrage money to be made between the U.S. And Korean exchanges. The difference in price of ETH right now it about $100. If anyone is down to take advantage, I'm in Korea, message me bros. Let's get this money everyone!

lol why would we trust a random person from another country? makes no sense. we send a random person coins and then u sell them for more on the exchange and then send us our original investment plus split profits?  sorry the risk/reward does not even come close

 

[jkallday]

lots of noobies coming into this thread. be safe. i think alot of ppl are gonna get burned on the correction

 

[jkallday]

 
Sure if you convert your BTC back to USD in large amounts.

The purpose of BTC is to keep it in BTC and pay with BTC to avoid uncle sam.

no i disagree.  just hold BTC and never spend it.  spending it would be stupid at these low levels

 

[capital sb]

 
no i disagree.  just hold BTC and never spend it.  spending it would be stupid at these low levels

Exactly these are assets that you hoard not spend .

 

[ninjahood]

u change SOME Bitcoin to Dollars if u had it since 2010-2011 and cash out and splurge a lil.

 

[yanky]

u change SOME Bitcoin to Dollars if u had it since 2010-2011 and cash out and splurge a lil.

Use some of that money to cop da hemi

 

[fapmasterjr]

What private key?

Everyone needs to understand that if your private keys gets into the wrong hands, they will have access to your funds. Your crypto is on the blockchain and it is up to YOU to secure yourself. If you backup properly and have all keys/passphrase.....you can load a wallet anywhere and recover your funds.

 

[BIG LEEMELONE]

no i disagree.  just hold BTC and never spend it.  spending it would be stupid at these low levels

Exactly these are assets that you hoard not spend .

I'm saying tho, 'NEVER' spend? Yall are better than me . Already funded two mini vacations with some of my profits

Sidenote, can't wait til I can start day trading. Missed out on around 2 gs in profit the past two days. The market really jumps from like midnight to 2am pst

 

[fapmasterjr]

I'm saying tho, 'NEVER' spend? Yall are better than me

. Already funded two mini vacations with some of my profits

Sidenote, can't wait til I can start day trading. Missed out on around 2 gs in profit the past two days. The market really jumps from like midnight to 2am pst

word. EVERYONE in different situations.  Good job my dude, always reward yourself!

 

[jkallday]

I'm saying tho, 'NEVER' spend? Yall are better than me

. Already funded two mini vacations with some of my profits

Sidenote, can't wait til I can start day trading. Missed out on around 2 gs in profit the past two days. The market really jumps from like midnight to 2am pst

yeh im saying not for another 5 years at the least. its all good u can enjoy the money now but when u look back in 5 years u will prob regret cashing in any bitcoin. i am a HODL for btc

 

[jkallday]

Sent you a pm

he prob will steal ur money. what makes u think he will send back ur intiial investment+ profit?

 

[jkallday]

u change SOME Bitcoin to Dollars if u had it since 2010-2011 and cash out and splurge a lil.

lol if i had bitcoins since back then i sure as hell wouldnt be in this thread