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Thread: Buying Altcoins/Bitcoins and investing in the stock market

  1. #376
    Member JaxRed's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I do essentially all of my investing within Roth IRAs. I have a touch over $10K in Crypto. I don't consider part of my investments. It's essentially gambling money.

    It consists of about $6,000 in Bitcoin which I bought years ago and represents a lot of profit. Not sure of numbers, it might have cost $500 or so. And some recent purchases of Ethereum. Which I'm down on. Bought about $5,800 and it's worth about $4,000.

    But the reason I bring it up, is that I think I'm going to try and put my Crypto into a Self-Directed Roth IRA. I've done a little research on it. And I think I plan to go with an outfit called Directed.com. Main purpose of which is, if I ever did have a 500% increase or so, I wouldn't want to have to pay taxes on it.

    As it is, If I yank the $10,000 out now. I'm looking at a long term capital gain of $5,500 or so, and a short term loss of about $1,500. I figure if I'm going to make the swap, now might be a good time to do it.
    Last edited by JaxRed; 09-22-2021 at 01:42 AM.
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  3. #377
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Anyone else doing NFTs? So much opportunity right now, it's been a great year.
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  4. #378
    Member JaxRed's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I've started the process of putting my Crypto in a Roth as stated above. I'm going to start a different thread about that aspect.
    Bud Selig: "I'm the worst commissioner ever"
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  5. #379
    Score Early, Score Often gonelong's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I am interested in discussion in regards to Crypto in a Roth IRA.

  6. #380
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Bitcoin is on sale today. Along with most everything else.

    Still a ways to go to be able to get the $8800 price from the day this thread started!

  7. #381
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    Bitcoin is on sale today. Along with most everything else.

    Still a ways to go to be able to get the $8800 price from the day this thread started!
    I think you have me blocked but nonetheless

    I'm in on something that's 50x'd this year and has a ton of room to run. I legitimately expect another 200x+ from here. It's held up great during bitcoin pullbacks. So many days it's green while everything else in the market is red.

    I had no idea how much opportunity there is in crypto before this year - it all bored me to death until smart contracts/utility, now I spend like 80% of my time on this stuff. I don't see myself being this involved long term, but for now I love it - really fascinating and there's so much money to be made.
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  8. #382
    Score Early, Score Often gonelong's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    I'm in on something that's 50x'd this year and has a ton of room to run. I legitimately expect another 200x+ from here. It's held up great during bitcoin pullbacks. So many days it's green while everything else in the market is red.
    Don't be shy, spill the beans. :-)

  9. #383
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by gonelong View Post
    Don't be shy, spill the beans. :-)
    https://www.coingecko.com/en/coins/magic

    Still a tiny marketcap, but will be massive a year from now. My most conservative prediction would be 10x from here. If it goes how I expect (and I truly think it will, the team behind this is world class, but nobody knows it yet) think 200-300x. I've been shoveling money into this since September.
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  10. #384
    Member jimbroznan's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I Bonds are paying 7.12% until April, then they will be adjusted to current inflation and the interest is not taxable until you cash them in. The downside a $10k limit per year.

  11. #385
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    https://www.coingecko.com/en/coins/magic

    Still a tiny marketcap, but will be massive a year from now. My most conservative prediction would be 10x from here. If it goes how I expect (and I truly think it will, the team behind this is world class, but nobody knows it yet) think 200-300x. I've been shoveling money into this since September.
    This has tripled in two weeks
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  12. #386
    Score Early, Score Often gonelong's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    This has tripled in two weeks
    Nice. I didn't get around to this one. *sigh*

  13. #387
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    My semi-regular check on things when the market sucks.

    From the date this thread started (11/24/17) until today:

    BTC - From $8,795.50 to $36,204.9, up 311.6%

    AMZN - From $1186.00 to $2338.00, up 97.1%

    FB - From $182.78 to $206.53, up 13%


    Still in the black all around, but some big sell offs in all three since last September when I did this last.

  14. #388
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I think AMZN is only up like 6% above where it was in March 2020 after a pretty massive gain during the pandemic.

  15. #389
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Bitcoin is impressively down almost $6k since Friday. Lost close to 1/6th of its value from Friday to Monday.

    FB and AMZN had pretty solid declines of their own.
    Last edited by Boston Red; 05-09-2022 at 04:04 PM.

  16. #390
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    Anyone else doing NFTs? So much opportunity right now, it's been a great year.
    Ended up being a huge scam
    What would you say.....ya do here?


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