Is this the beginning of the end? Bitcoin is dropping right now after a big Chinese exchange said it is closing
Probably only been paying attention for a couple months. Op needs to Google the definition of volatile
Correct me if I'm wrong but China banning exchanges is the biggest blow to cryptocurrency since its invention. Before there were always threats but never any action like what happened couple days ago.
it does nothing to stop the protocol from running all it does is incentivize the development of new means of avoiding government controls when you try and stomp on something and don't kill it, it often adapts and evolves into something stronger
Kind of a fake inflation because of the upcoming fork though, people are trying to make a quick buck and are pumping up the value. All other altcoins are going down despite good news, it's a shady market and too often controlled by money instead of the technologies.
Agree with this -- price inflated because people want bitcoin gold after hard fork. My alt:btc ratios are destroyed now thanks to this. Whoops.
I cashed everything out about a month ago, just don’t have time to stay on top of it. What a dumb move, could’ve just converted all my alts to Bitcoin and let it sit.
What do you guys use to keep track of transactions and tax purposes? Recently got into it got bought some alt coins and kind of want to do some day trading to play around.
Cashing out is probably the worst move if you don't desperately need the money asap. This market is in its early stages and values for the good coins are extremely low right now, so just hold your coins and don't look at their value for a longer time. If you aren't a daily trader, you should have a long-term investment mentality and trust the project instead of looking at daily values. Also takes the pressure off of you and makes you more calm about this thing.
I have to be the worst crypto investor of all time. Anyone else feel that way? After the fork, I'm just gonna let it sit there. I suck. Put me out, coach.
General advice is to just hold, if you don't actively follow developments and chat with other investors/insiders. This market is extremely turbulent and sometimes illogical if you don't follow developments non-stop.
It's my (noob) understanding that you don't pay taxes until you withdraw USD back to your bank account. At that point, it is treated like property and you might be subject to capital gains if you've made money. But I'm not a CPA, so I could be way off here. I just did some quick research a month or two ago. Didn't even stay at a Holiday Inn.
