Re: Capital flight
Posted: Mon May 08, 2017 9:07 amCashed out today. Market is looking overbought and I was very heavy ETH. Total Invested, 5630, total withdrawal 32450, profit 26820. Unfortunately this is all short term gains so I'm looking at roughly 40% in tax. Going to take out 22450, return initial investment and save the rest in case I get a tax bill. Other 10k goes back into cryptos. Going to try to diversify again but waiting for the market to pull back and this time I'm going to keep them in a reputable exchange instead of on sketchy Russian exchanges that i can't get back into (this probably cost me 8-10k looking at current market prices).
You guys should really look into this. Crazy thing is is the cryptos I was diversified into back in 2012 are still there. They basically did nothing for a few years and now are going up 100-900%. I'm sure they will flatline soon and again in 1-2 years will do the same. Lot of very easy money making opportunities because this shit is so unregulated. You have ICO's that allocate based on initial investment and which are guaranteed to pop because they are oversubscribed. You basically just saying your going to buy a million bucks worth in order to get priority, then buy whatever amount you want and can flip after they hit the market. You have cointeams literally tweeting their plans out and in a very shallow market you can actually buy before it gets priced in. Market is so much more sophisticated than in 2012 though, the exchanges now actually give you complete trade reports, you can buy on margin, stop/loss. There is now a robust Initial Coin Offering market and actually the coins operate more like equity than like a currency. It's actually funny because this basically seems like issuing unregistered securities, but hey what am I a securities lawyer?!
You guys should really look into this. Crazy thing is is the cryptos I was diversified into back in 2012 are still there. They basically did nothing for a few years and now are going up 100-900%. I'm sure they will flatline soon and again in 1-2 years will do the same. Lot of very easy money making opportunities because this shit is so unregulated. You have ICO's that allocate based on initial investment and which are guaranteed to pop because they are oversubscribed. You basically just saying your going to buy a million bucks worth in order to get priority, then buy whatever amount you want and can flip after they hit the market. You have cointeams literally tweeting their plans out and in a very shallow market you can actually buy before it gets priced in. Market is so much more sophisticated than in 2012 though, the exchanges now actually give you complete trade reports, you can buy on margin, stop/loss. There is now a robust Initial Coin Offering market and actually the coins operate more like equity than like a currency. It's actually funny because this basically seems like issuing unregistered securities, but hey what am I a securities lawyer?!
