/biz/ - Business & Finance

Are you the one who made this site? Can you teach me how to trade based on this? aftervalue.herokuapp.com

Okay I'm new fag here I want to get educated on the subject of crypto currently can you give me some things i should read up on and familiarize my self with before I start investing?

>>21423648
Why are BTC and ETH the top coins despite being slow and expensive pieces of shit that don't even work as advertised by their own fucking whitepaper or creators? Not shilling XRP btw, despite working as expected it's a complete shitcoin scam.

>>21423957
No idea what that is, i'll take a look here in a minute
>>21424006
start with learning how bitcoin works and then look at ethereum/smart contracts
if you're totally green I would suggest watching Andreas Antonopoulous on youtube. These two are lengthy but are good starting points
https://www.youtube.com/watch?v=l1si5ZWLgy0
https://www.youtube.com/watch?v=1sOxtBiBpE4

>>21424077
>Why are BTC and ETH the top coins despite being slow and expensive
that is the nature of scale. If blockchains are slow it's because real people are actually using it. Small chains are fast because the blocks aren't full of transactions and the miners are constantly looking for transactions to add to their blocks

>>21423957
Okay, this just looks like another metric site. They have interesting stuff but if you're interested in learning how to use real TA to trade I would suggest CryptoCred's TA series on youtube
https://www.youtube.com/playlist?list=PLvkpxFSTppmnQ7A5DP386zEKU0Tv_fatm

>>21423648
Do you really think Bitcoin is a store of value?

>>21424211
I think it is, and it also objectively is

>>21423648
Someone needs to make an updated version
2017 1 BTC = $10000 = 100000 LINK
2019 1 BTC = $10000 = 10000 LINK
2020 1 BTC = $10000 = 1000 LINK
maybe with an aged maxi like the maxis do to peter schiff

>>21424262
Then I think you are a retard.

(Am I doing it right as a newfag?)

>>21424347
Maybe you would be better off just holding your US Dollars in a bank account. That's the REAL store of value, right? Fuck off pleb we're here for the trade of the century

>>21424145
Why the fuck would a global monetary system be limited in blocksize and thus scale? You telling me the maintainers of such a system (that presumably contains trillions in transactions and wealth) can't scale up their operations?

>>21424434
I believe in some use cases for crypto. But not as a currency that is going to replace fiat money, and not as a store of value.

>>21424458
Yeah you know if anyone actually used BSV or whatever shitcoin you like it would have worse scaling issues than BTC or ETH or anything else you're salty about

What is the best way to cash out in the US? What kind of taxes are you expected to pay if you held for over two years?

>>21424572
This please. Details
I'm thinking buy Bitcoin with altcoin profits then Bitcoin atm in country with no cap gains

>>21424572
>>21424617
>What is the best way to cash out in the US?
Gemini is arguably the best since they're built for institutions and have the least friction with the legacy financial system. Keeping the transactions small (a few thousand dollars each) brings up the least problems with a local bank. You can also send bitcoin to a crypto debit card (like the cashapp card) and buy stuff with your crypto just like a normal debit card
>What kind of taxes are you expected to pay if you held for over two years?
Depends on the state and it depends on the amount of profit on the sale. I have a crypto tax company called taxbit handle that for me, I pay $50 a year and they generate an 8959 capital gains form for me. Made around 15 grand from crypto last year and I paid around 15% of that in capital gains.

>>21424533
>it would have worse scaling issues than BTC or ETH
I think you're full of shit and don't know dick about blockchain. BSV currently has a world record and is demonstrably more scaled than btc or eth. So why are you such a fucking liar?

>>21424754
LOL, called it. You BSV faggots are insufferable. Craig Wright is an autistic grifter who stole money from the Australian government
https://www.youtube.com/watch?v=lPbh2ltm1wI

>>21423648
>pic
Don't people want bitcoin/other crypto to become an everyday currency? How is that compatible with the kind of model in the pic? Because BTC increases in value so much (or at least, it has done so far), that's an incentive NOT to spend it. Fiat is the opposite because it inflates so fast.

>>21423648
Thoughts on PNK and STA? Actual good projects or are they just scamcoins memed here the same way XRP is memed?

>>21424813
Yeah, you sure called it. The only scaled Bitcoin.

>>21424886
After it hits critical mass the deflationary events will become negligible. The real reason that Bitcoin increases so much in value is because humans don't know how to value it properly and rush in to buy it after each halving
>>21424905
I haven't done much research on them. Might be worth having some small bags of them. Statera had a huge liquidity bug a few weeks ago that crashed the price, that's about all I know about it.

>>21423648
Bitcoin is NOT fungible, it's the opposite.

>>21423648
>buttcoin
>scarce

>buttcoin
>easily transactable

>buttcoin
>secure

>butcoin
>non-consumable

Remove that retarded graphic please.

>>21424933
Ouch. That's an ugly chart. I would probably be salty too.

>>21424711
>8959 capital gains
Nice, a flat 15% was what I was shooting for. When people talk about paying tax for every transaction, is that mostly to scared people? Like, can I just pay 15% from when I initially put my USD in, to when I took it out?

>>21423648
In all seriousness, is ETH the network that coins like LINK and others work on? If ETH is the network, why invest in coins and not just put all my money in ETH?

>>21425051
YTD is plus 40% over BTC. I can cherry pick too.

Meanwhile BSV is not only overall up vs btc, but also outperforms it in every other way concerning scale and utility. Same goes for eth.

>>21425122
You wouldn't. Unless you want to gamble. Eth is a safer bet (still a premined shitcoin though).

>>21425074
It's based on a first in first out system. If you bought one bitcoin at $1000 and another at $2000, then sold them both for $20,000, you would pay 15% of 9,000 for the first buy and 15% of $8000 for the second. I wouldn't worry too much about it, there's plenty of software built just to do this. Keep the profit from each trade under $19k because after that mark the taxes go up substantially.
>>21425122
LINK is an ERC20, which means it's a token used in an Ethereum smart contract. You need ETH to send LINK. If you're using an exchange they usually handle that for you. Would agree that LINK is likely overvalued and ETH is likely undervalued.

>>21423648
This is all I have bc a friend sent me. anons here told me that's not even a fucking dollar.
What should I do with this then? Is it worthless?
How much money do I need to have to make some profit?

>>21425220
>What should I do with this then? Is it worthless?
I would set a sell order at around 90 satoshis and just wait. If that order got filled you would have 360 satoshis which right now is worth around four cents.

>>21425189
This is incorrect daytrading stocks lets you have choice over which stocks you trade. I forget what it’s called but you don’t have to do FIFO in US

>>21423648
How do I even buy crypto? What websites are legit?

>>21425336
Yeah crypto is a commodity and overseen by the FTC bud. It's not a stock.
>>21425368
Cashapp and coinbase are the best onramps. You can also buy bitcoin from an ATM if you can find one but the fees are much higher (you have to pay around 10%)

Why do people use blockchain? I see you can't actually buy very many different coins on there what's the real purpose for this app

>>21424966
>Statera had a huge liquidity bug a few weeks ago that crashed the price, that's about all I know about it.

The bug was on Balancer. Stateras code was never the issue. Its the reason Statera just has bounced back in less than 2 months and reached new ATH this week.

>>21424905

STA is an unironically bizs IQ test. Those that pass will be grealy rewarded. Those that don't are destined to stay poor.

>>21423648
cringe thread desu

>>21425336
GAAP allows FIFO, LIFO and continuous (forget the exact term). The point is to pick one and stick with it. Switching accounting methods is a fucking nightmare.

Would I be a retard for using my student loans to put into crypto?

New fag here.

Peee peee poo pooo peee peee pooo pooo


Is pic related a good buy.

>>21423648
What subreddit do u run?

>>21426961
No because if it fails you can just wageslave and pay them back easily that way

>>21426961
The fuck else would you put them into? A university? Do you think this is the 50's? Jesus fucking christ anon, take max loans at the 0% and put them into LINK. Learn a trade and tell your parents your classes are going well. Make 3x a college grad's wage while you build your stack more for 4-5 years (the time you'd be in school) and retire.

>thanks OP I got some Yous for you
Where is the best exchange for a rookie to learn trading?
What should I really dig into when reading white papers?
What are the key facets of a relatively "safe" bet for a long term hold?
If you were going to confidently shill me a shitcoin what would you pick, and why?

>>21423648
Can I transfer ETH from and to all wallets? What's the best e-wallet to store PNK?

>>21427004
>>21427073
The issue is that I got scholarships and practically going to school for free. If I take the loans then I'll have debt. I have 6k debt right now

Where are instructions on how to transfer to and from paper wallets? ...The only videos I found were old and made by old dudes and offered complicated methods. I used bitcoin.com wallet a while ago and there was no fees. I transferred from a paper wallet last week and it took almost half of my satoshis. Why are they shit now??

>>21423648
Is ZRX a good shitcoin to hold? What about IOTA? XLM?

>>21423648
1) How is fungible defined that makes it different than "easily transactable"?
2) Is crypto really non-consumeable? If my hdd with the wallet gets wiped, what happens? Gold literally reforms if you melt it, but burnt paper doesn't.
3) How is it non-conterfeitable?

>>21423648
How does the whole futures thing work? I get the theory of betting on whether it will go up or down, but is there a time frame set? Is it an average over days/hours/seconds? Can someone provide a simple example?

>>21428102
1) farmer plants crops to be harvested at future date.
2) crop's value on future date is volatile.
3) farmer is satisfied $X revenue per unit of harvest.
4) investor puchases a futures contract from farmer for $X.
5) if market value of harvest is > $X, then investor can resell harvest to grocery store for profit
6) if market value of harvest is < $X, then investor must resell harvest to grocery store for loss
now simplified: investor never needs to take delivery of goods.

>>21425262
>satoshis
what are satoshis? Satoshivisioncoin?