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FreedomCoin (OP)
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August 08, 2014, 04:43:32 PM |
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Alot of us bought BTC when they were *cheap* and been holding them since. Hoping they will keep climbing in value. And at the same time many altcoins rise and fall, people buying low and selling high, or even shorting BTC on sites like Bitfinex... Or mining new coins and then dump them as soon as they hit the market. There are also many securities out there to invest in like ASICMINER and HAVELOCK and now some mutual fund types investing in many altcoins, bitcoin and shares in crypto companies.
I am not talking soo much about Pool operators, or people with massive ASIC/FPGA/GPU/Rent-A-Server Farms, nor people that are just hodling. Looking for people invested in buying, holding and selling coins short / semi long term and or buying securities in groups that mine and give out dividends on their output.
With all these options out there, to invest in. Where you can possibly get a monthly, annual dividends, or as stated trade on the exchanges. Has anyone made this their full time job and been successful at it?
Certain names come to mind like Chris Dunn and Johnny Roquemore.
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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jjc326
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August 08, 2014, 05:31:53 PM |
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I'm wondering the same. If you are making a living (or did for several years) I wonder how you've been handling taxes. What a pain that must be, trying to prove at what price you bought BTC or other currencies, because there is not the paperwork on the exchanges like you'd get on TD Ameritrade or Schwab.
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virtualx
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August 08, 2014, 06:28:16 PM |
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Alot of us bought BTC when they were *cheap* and been holding them since. Hoping they will keep climbing in value. And at the same time many altcoins rise and fall, people buying low and selling high, or even shorting BTC on sites like Bitfinex... Or mining new coins and then dump them as soon as they hit the market. There are also many securities out there to invest in like ASICMINER and HAVELOCK and now some mutual fund types investing in many altcoins, bitcoin and shares in crypto companies.
I am not talking soo much about Pool operators, or people with massive ASIC/FPGA/GPU/Rent-A-Server Farms, nor people that are just hodling. Looking for people invested in buying, holding and selling coins short / semi long term and or buying securities in groups that mine and give out dividends on their output.
With all these options out there, to invest in. Where you can possibly get a monthly, annual dividends, or as stated trade on the exchanges. Has anyone made this their full time job and been successful at it?
Certain names come to mind like Chris Dunn and Johnny Roquemore.
I think there must be some people, as you could buy a bitcoin for 0.07$ in the past. So it was easy to get say 2000 BTC which at current price would be worth one million dollar. |
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BE A MOON VISITOR! |
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Ayers
Legendary
 Offline
Activity: 2604
Merit: 1023
Leading Crypto Sports Betting & Casino Platform
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August 08, 2014, 07:21:09 PM |
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there was a case here in the forum of someone who made more than 100k(he didn't sell), and then was arrested or something, o don't remember the full story though
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FreedomCoin (OP)
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August 08, 2014, 07:24:27 PM
Last edit: August 08, 2014, 07:34:37 PM by FreedomCoin |
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I'm wondering the same. If you are making a living (or did for several years) I wonder how you've been handling taxes. What a pain that must be, trying to prove at what price you bought BTC or other currencies, because there is not the paperwork on the exchanges like you'd get on TD Ameritrade or Schwab.
I have reported my BTC and Altcoin earnings for the last two years, i think its pretty easy. Just notate the date you bought them on and the date you sold them on... and if you have not sold then notate the current price.. My CPA handles them similar to stock shares. Has worked well so far *fingers crossed* Alot of us bought BTC when they were *cheap* and been holding them since. Hoping they will keep climbing in value. And at the same time many altcoins rise and fall, people buying low and selling high, or even shorting BTC on sites like Bitfinex... Or mining new coins and then dump them as soon as they hit the market. There are also many securities out there to invest in like ASICMINER and HAVELOCK and now some mutual fund types investing in many altcoins, bitcoin and shares in crypto companies.
I am not talking soo much about Pool operators, or people with massive ASIC/FPGA/GPU/Rent-A-Server Farms, nor people that are just hodling. Looking for people invested in buying, holding and selling coins short / semi long term and or buying securities in groups that mine and give out dividends on their output.
With all these options out there, to invest in. Where you can possibly get a monthly, annual dividends, or as stated trade on the exchanges. Has anyone made this their full time job and been successful at it?
Certain names come to mind like Chris Dunn and Johnny Roquemore.
I think there must be some people, as you could buy a bitcoin for 0.07$ in the past. So it was easy to get say 2000 BTC which at current price would be worth one million dollar. I am a holder of btc as well, but as you stated that is very long term investments. You would have to hold for years to get that kind of return. But this is not the kind of investing i am talking about, i am talking about buying when a coin is low and then selling a couple days, weeks months later when it reaches new heights. I am curious how successful people have been selling coins being alt or otherwise on the dips and rises. The only long term investments i am talking about for passive income would be as stated ASICMINER or some other share type investment. there was a case here in the forum of someone who made more than 100k(he didn't sell), and then was arrested or something, o don't remember the full story though
100k just holding BTC? or are we talking about some other coin? |
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Kprawn
Legendary
Offline
Activity: 1904
Merit: 1073
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August 08, 2014, 07:51:48 PM |
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Do you mean the "pump and dumper" crowds?
There are at least a few people who trying this continuously, so they must be making a lot of money.
Or are you talking about serious investors? The people who is doing this for a living?
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FreedomCoin (OP)
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August 08, 2014, 07:56:57 PM |
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Do you mean the "pump and dumper" crowds?
There are at least a few people who trying this continuously, so they must be making a lot of money.
Or are you talking about serious investors? The people who is doing this for a living?
Yes alot of what i am talking about is pumping and dumping, buying low selling high. Buying a coin and selling it after it goes above 25%+ in value since you bought it. If you do this with many coins, and throw a few hundred or thousand at them, you could have some good returns... or bad losses. Also having a couple rigs mining new coins, and then sell them when they hit the exchange. What would you consider serious investors? |
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sandykho47
Sr. Member
Offline
Activity: 252
Merit: 251
Knowledge its everything
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August 09, 2014, 05:32:43 AM |
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There are lot people example : early bitcoin adopter, satoshi nakamoto, dan scam alt. coin developer IF you mean seriously 100% in crypto. I think only satoshi nakamoto  Do you mean the "pump and dumper" crowds?
There are at least a few people who trying this continuously, so they must be making a lot of money.
Or are you talking about serious investors? The people who is doing this for a living?
Yes alot of what i am talking about is pumping and dumping, buying low selling high. Buying a coin and selling it after it goes above 25%+ in value since you bought it. If you do this with many coins, and throw a few hundred or thousand at them, you could have some good returns... or bad losses. Also having a couple rigs mining new coins, and then sell them when they hit the exchange. What would you consider serious investors? Yeah. or you can make altcoin, mine it. and sell all when price is high |
Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
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botany
Legendary
Offline
Activity: 1582
Merit: 1064
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August 09, 2014, 06:20:33 AM |
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There are lot people example : early bitcoin adopter, satoshi nakamoto, dan scam alt. coin developer IF you mean seriously 100% in crypto. I think only satoshi nakamoto How much do you think he will have to pay in taxes, if he does cash out. |
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lihuajkl
Legendary
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Activity: 1596
Merit: 1000
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August 09, 2014, 06:28:05 AM |
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To buy low and sell high in hours, weeks, months is not called investment, but called speculation. Most of people who do this type of things do lose their money.
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Unluckyduck
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August 09, 2014, 07:00:08 AM |
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Yeah there are plently of whales that regularly move the market although im guessing most probably got in fairly early on.
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Ayers
Legendary
Offline
Activity: 2604
Merit: 1023
Leading Crypto Sports Betting & Casino Platform
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August 09, 2014, 07:29:26 AM |
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100k just holding BTC? or are we talking about some other coin?
just holding btc, was a old member who started mining very early, i don't remember the full details, but there was a photo of him and his family in the web |
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TaunSew
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August 09, 2014, 12:33:59 PM |
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These people do exist but they need a lot of money to process volume and they need computer bots / scripts to day trade for them. . but it's still not fool proof.
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There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
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aeonpi
Newbie
Offline
Activity: 9
Merit: 0
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August 09, 2014, 12:37:16 PM |
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We have a few people who are doing well with our virtacoin.com and have done well for themselves with other coins btc and ltc included. |
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abora
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August 09, 2014, 01:23:22 PM |
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If CMI's can exsist in the capital market of course its possible to survive on it partially.
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InwardContour
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August 09, 2014, 03:12:28 PM |
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Living with crypto trading and investments is my dream but at the moment I don't have many funds avaiable so I'm trying to accumulate as much as I can for the future.
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DavidHume
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August 09, 2014, 10:14:52 PM |
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Alt coin developers probably make quite a lot compare to a regular job.
Remember, some of the developers were involved in several coin projects and then abandon the coin after the initial pump from unsuspected investors.
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Mobius
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August 09, 2014, 10:51:02 PM |
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Alt coin developers probably make quite a lot compare to a regular job.
Remember, some of the developers were involved in several coin projects and then abandon the coin after the initial pump from unsuspected investors.
I think a lot of the altcoins are really nothing more then a way to make their creators rich. IMO they serve very little, if any, other purpose. Bitcoin is able to provide much more then what any other altcoin can provide. |
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botany
Legendary
Offline
Activity: 1582
Merit: 1064
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August 10, 2014, 06:27:16 AM |
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Alt coin developers probably make quite a lot compare to a regular job.
Remember, some of the developers were involved in several coin projects and then abandon the coin after the initial pump from unsuspected investors.
I think a lot of the altcoins are really nothing more then a way to make their creators rich. IMO they serve very little, if any, other purpose. Bitcoin is able to provide much more then what any other altcoin can provide. Widespread adoption is what provides bitcoin its value. These new altcoins are always playing a catching up game. So it is very difficult for them to gain bitcoin's valuation. But still people speculate using them because one altcoin might turn out to be the bitcoin-killer. |
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mraveragejoe
Newbie
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Activity: 42
Merit: 0
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August 10, 2014, 09:05:30 AM |
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Alt coin developers probably make quite a lot compare to a regular job.
Remember, some of the developers were involved in several coin projects and then abandon the coin after the initial pump from unsuspected investors.
I think a lot of the altcoins are really nothing more then a way to make their creators rich. IMO they serve very little, if any, other purpose. Bitcoin is able to provide much more then what any other altcoin can provide. There were many scamcoins which made their creators really rich, sometimes scammers are really clever I have to admit. |
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