Crypto currency

ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Surprise, picked up another 1/4 billion Safemoon!!! Not what you think....kept my word so far.

#1 Whale dumped another 2.4 trillion Safemoon early this morning causing a big dip, although I didnt get it at the bottom still got a discount.

I looked at my TRX ecosystem (TRX, WIN, BTT) and decided I really dont have enough to make life changing money on those, so time to make a move and consolidate my holdings away to Safemoon. I never thought I would do that been on those since 2018, but did the math and swapping it over gave me the best chance....I hope :)

I have some DOGE, one more dip and maybe I get rid of that too.
 
sinewave3

sinewave3

Member
Awards
1
  • Established
A crypto guy on youtube with over 1M subs says it could be AMP or ALGO. He invested 100k in both.
I could see Algo. I have used that to move funds off Coinbase. Algo has low fees and very fast transactions. There was something else interesting about it but I forget what it was. Haven’t been getting crypto since spring, had to dump all my cash into my car now into my house…
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Crypto Surprise Rattles Industry in Rare Bipartisan Tax Plan

A Senate proposal to ramp up IRS surveillance over cryptocurrency transactions has the industry and investors questioning the plan’s viability and its promise of generating $28 billion in tax revenue.

Cryptocurrency exchanges, investors and their advisers were caught off guard Wednesday when a bipartisan Senate infrastructure agreement was released that included a large-scale increase in the requirements for crypto brokers and investors to report their transactions to the Internal Revenue Service. The reason for the last-minute inclusion: the proposal would raise a chunk of money to help fund the $550 billion of investment into transportation and utility upgrades.

The proposal -- which updates rules requiring brokers to report cryptocurrency transactions and for businesses investing in crypto to disclose trades of more than $10,000 -- was the result of a compromise between the White House and Senator Rob Portman, a lead Republican negotiator. The provision includes portions of a Portman measure, according to a person familiar with the matter. The White House has also proposed similar ideas in recent months.

“Instead of rushing through an untested provision with vast unintended consequences, we encourage Congress to work with industry to find language that works for all stakeholders,” said Kristin Smith, who heads the Blockchain Association, a Washington-based trade group.

The plan addresses a key challenge for the federal government: keeping up with the explosion of cryptocurrencies, both in quantity and in value, which allow holders to circumvent the traditional banking system and remain largely anonymous. The market’s value surpassed $2 trillion this year.

IRS Commissioner Chuck Rettig has said tax evasion from virtual currency is a key contributor to the growing tax gap, the difference between what’s owed and what the agency actually collects. Cryptocurrency use has also been tied to illegal activity, including drug trafficking and money laundering.

Cryptocurrencies have evolved much more quickly than the government has been able to pass laws to regulate it, making a rare shared concern for both Republicans and Democrats, who largely disagree on tax issues.

Mutually Agreeable
That made additional tax enforcement in the area mutually agreeable, even after lawmakers decided to cut an earlier proposal in the infrastructure plan for a broader expansion of IRS audits. Republicans deemed that idea too expansive.


At the same time, cryptocurrency investors have been frustrated for years with a lack of rules from the federal government about how to report their holdings for tax purposes. Instead of more clarity in how to follow the rules they’ve faced an uptick in audits and enforcement activity.

“Everybody’s been talking about the appropriate way to provide more reporting in particular and that leads to better compliance,” Portman told reporters Wednesday after the deal was announced.

The cryptocurrency industry, however, raised questions about whether the $28 billion revenue estimate -- from Congress’s official tax scorekeeper, the Joint Committee on Taxation -- was accurate.

“There is certainly a spectrum from no reporting and intentional evasion, to genuine mistakes, and most people fall somewhere closer to genuine mistakes,” said Guinevere Moore, a tax litigator who represents clients investing in cryptocurrency.

Some crypto industry lobbyists called versions of the draft bill text unworkable and potentially detrimental to the industry’s growth in the U.S. They said collecting comprehensive information will be difficult if not impossible.

Compliance Questions
The senators writing the bill have yet to release a final draft of the legislation.

It’s a longstanding tradition for industries to complain about more regulations and oversight, but Congress also has a history of rushing unfinished tax ideas into legislation when it needs the revenue from the proposal to offset other spending in a given bill.

In 2015, Congress passed a new audit process for partnerships and limited liability companies because it would raise tax revenue to pay for a budget deal, even though the lawmaker developing the idea said it still had technical problems.


“This is a very complicated space, easy to get wrong, and this is why we need a real committee process to consider these issues, instead of secret drafting. We’re working on making it better,” Senator Cynthia Lummis, a Wyoming Republican who owns bitcoin, said.

Some firms in the crypto industry said it’s unclear whether they even have the ability to comply with the proposal and that if implemented, it could push part of the industry overseas.

Hardware Wallets
Enforcing the new reporting requirements for cryptocurrency is going to be extremely difficult, said Shehan Chandrasekera, head of tax strategy for CoinTracker, a company that helps people manage and calculate taxes from their cryptocurrency transactions.

Lawmakers are trying to take what worked for stocks and securities and apply those practices directly to cryptocurrency, he said. “I don’t think it’s going to work out because in the crypto world, there’s so much self-custody -- a lot of people are holding their assets in a hardware wallet -- and in the stocks and securities world that never happens.”

A hardware wallet is a physical device on which people store the private keys for accessing their digital assets.

It will also be tough to enforce reporting on decentralized exchanges, Chandrasekera said. Many don’t collect Social Security numbers, names, or addresses of users.

 
GreenMachineX

GreenMachineX

Well-known member
Awards
4
  • Established
  • First Up Vote
  • Best Answer
  • RockStar
For anyone interested, here's a video that just came out going over MultiVAC. Never mind the click bait title:
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
For anyone interested, here's a video that just came out going over MultiVAC. Never mind the click bait title:
Always interested in having stuff pointed out here even though Ive consolidated most of my holdings into SM right now.

Gotta plan and stay up to date so if AMC does what I need it to do I can start diversifying my crypto-folio again, so keep posting them up!
 
GreenMachineX

GreenMachineX

Well-known member
Awards
4
  • Established
  • First Up Vote
  • Best Answer
  • RockStar
Always interested in having stuff pointed out here even though Ive consolidated most of my holdings into SM right now.

Gotta plan and stay up to date so if AMC does what I need it to do I can start diversifying my crypto-folio again, so keep posting them up!
I hear ya. If AMC eventually pops, I'll make myself a whale in MTV and safemoon. Depending on much AMC pops, then I'll make myself a whale in VET too The price for VET is already so high but that's one the one most sure of hitting and exceeding $1 the soonest.
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
I hear ya. If AMC eventually pops, I'll make myself a whale in MTV and safemoon. Depending on much AMC pops, then I'll make myself a whale in VET too The price for VET is already so high but that's one the one most sure of hitting and exceeding $1 the soonest.
I decided for the best chance for me to make life changing money I had to consolidate into my highest conviction plays and just take that risk, SM is still a risk of course. I just got rid of my DOGE too for SM. If I have too many of this and that great goodies I feel like Im spread to thin and wont really get anywhere in a few years unless I get that AMC money in on them.

Right now Im left with about 80% SM, 20% SHIBA. Im iron fisting SHIBA long term. Im still holding my small amount of BSC tokens consisting of enter.art, GMR and Moonshot, and thats that (wont mention rugpulls, LOL.) Out of those enter.art has the most potential as a independent multi-diverse NFT platform but we will see, its a longshot for sure.

Im still fairly diverse in my investments if we include Stocks which keeps to my not putting all my chips in one basket philosophy, but consolidation is something I needed to do for now and keep building on that.

And a disclaimer: I might change my mind at any moment in the crypto world, LOL!
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Forget I do have one/viper which I’m just letting it do it’s thing as long as it takes.
 
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
just saw latest safemoonJoe video .. buy button might be coming sooner then we think ( hopefully)

have couple hundy aside for that wallet
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
just saw latest safemoonJoe video .. buy button might be coming sooner then we think ( hopefully)

have couple hundy aside for that wallet
Personally, I don’t think they should release it in a official level until that buy button is there. We want good first impressions and ease of purchase so people buy in to the ecosystem then stick to it.
 
GreenMachineX

GreenMachineX

Well-known member
Awards
4
  • Established
  • First Up Vote
  • Best Answer
  • RockStar
Personally, I don’t think they should release it in a official level until that buy button is there. We want good first impressions and ease of purchase so people buy in to the ecosystem then stick to it.
Agreed. There's enough fud all over reddit.
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Today the Android beta Safemoon Wallet is launched. I’m on weekend vacation and don’t have my android device so I’ll probably miss out but I’m ok with that.

Also, we are starting to see the beginning of Satoshistreetbets Safemoon squeeze…the “first.”

Hope the whales don’t dump too crazy and demoralize the momentum….
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
If all goes well this is projected timeline. Wallet is Android only, they are dealing with the longer bureaucracy of Apple but will get there. Safemoon V2 will have some details revealed at the next AMA.

207483
207484
 
Last edited:
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
Today the Android beta Safemoon Wallet is launched. I’m on weekend vacation and don’t have my android device so I’ll probably miss out but I’m ok with that.

Also, we are starting to see the beginning of Satoshistreetbets Safemoon squeeze…the “first.”

Hope the whales don’t dump too crazy and demoralize the momentum….
saturday was a great day .. we mooned to like 29 and then came back down to 21 .. sitting now at 24

hopefully great things to come .. heard joe talk aout the AMA .. doing big things
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
saturday was a great day .. we mooned to like 29 and then came back down to 21 .. sitting now at 24

hopefully great things to come .. heard joe talk aout the AMA .. doing big things
The old whale #1 (who recently became 2) dumped 2 trillion (now he is #3 whale) and another whale #5 dumped 1/2 trillion safemoons. Keep in mind whale#1 is the owner wallet.

Its all good, I expected the whale dumps to happen and its better for the long run.....people on Reddit who dont understand whats going on freaked out thats for sure, lol.
 
Last edited:
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
Doge & ada looking nice
 
  • Like
Reactions: ax1
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
207553
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Doge & ada looking nice
After 3 years I dumped all my DOGE for Safemoon. Also dumped all my TRX, wink, btt all for Safemoon.

So now Im about 75% Safemoon, about 20% Shiba inu and I have a small amount of one/viper, enter.art and GMR....and some sprinkles and rugpulls of other coins not worth swapping.

Havent paid for crypto in over 2 weeks which is fantastic I feel comftable with my holdings for a change.

I felt like I needed to stop spreading too thin and having a couple thousand DOGE coin wasnt going to change my life even if it hit $2 a coin.....ya know?!?

If AMC does what I need it to do Ill be back in others again....Im buying my TRX back out of habit, and start getting ONE, ADA, and a few other heavy hitters for long term holds.
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
I was one of the lucky 10,000 users in less that 1 minute who got their hands on the wallet.

Not much to report other than I like the look....until then not much I can do with it and sending money to a test wallet is a no no.

The good news is it looks like this will be officially out on the 28th on IOS as well on the official store if all goes well.
 
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
I was one of the lucky 10,000 users in less that 1 minute who got their hands on the wallet.

Not much to report other than I like the look....until then not much I can do with it and sending money to a test wallet is a no no.

The good news is it looks like this will be officially out on the 28th on IOS as well on the official store if all goes well.
nice

yeah heard joe talk about it and kept crashing i believe they kept taking it down to improve.

exciting stuff .. hopefully Newyorkers can use all funtions
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
nice

yeah heard joe talk about it and kept crashing i believe they kept taking it down to improve.

exciting stuff .. hopefully Newyorkers can use all funtions
I didn’t get any crashing at al on the iOS, it it’s really in its infancy stage and not much to do. They have charts and top gainers/losers list.
I did get my testnet BNB on it too. Calculator works fine.

Sending real token right now is a no no and people actually (allegedly) did and lost their crap. Your not supposed to use real coin on the beta wallet.

IMG_1693.JPGIMG_1694.JPGIMG_1695.JPG
 
GreenMachineX

GreenMachineX

Well-known member
Awards
4
  • Established
  • First Up Vote
  • Best Answer
  • RockStar
I didn’t get any crashing at al on the iOS, it it’s really in its infancy stage and not much to do. They have charts and top gainers/losers list.
I did get my testnet BNB on it too. Calculator works fine.

Sending real token right now is a no no and people actually (allegedly) did and lost their crap. Your not supposed to use real coin on the beta wallet.

View attachment 207580View attachment 207581View attachment 207582
Lol that's gonna bring some fud then!
 
  • Like
Reactions: ax1
jameschoi

jameschoi

Well-known member
Awards
2
  • Established
  • First Up Vote
All the coins I just dumped for Safemoon jumped up a bit, LOL....anyways Ill be fine just as long as the plan carries out. Its really hard to guess when a bull run comes up.
Safemoon dropped out of the top 100. What is going on?
 
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
damn over -12% drop just today on safemoon

meanwhile doge and every other coin ripping
 
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
A few threads on reddit saying it is a total scam. So is it?
i dont think so .. they seem to be very legit
then again any of these coins with .00000 prices are like a lottery imo .. it can hit in 5-10years or you lose your 100-200 .. i put in 300 in it

remember doge was started as a joke and became realty and mark cuban and other nba teams started accepting it ..all coins in a sense can look at a scam besides BTC if you really think about it
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
A few threads on reddit saying it is a total scam. So is it?
The whales are selling thats the reason the price is dropping. There is alot of FUD and more so than ever non-constructive hate posts.

Doesnt bother me one bit other than I dont have money to spend to keep buying. Im holding for the long term, there are alot good stuff coming down the pipleline....assuming its not a scam, LOL!

Social media can be toxic thats for sure, especially when young people cant buy their lambo's with a 2 month investment.
 

kisaj

Legend
Awards
3
  • RockStar
  • Established
  • First Up Vote
I hope everything turns out, but I would not feel comfortable with any money in SafeMoon. I'm just watching the drops and then little 1-2% increases and then more drops and the Redditors act like it's a good thing.
 
GQdaLEGEND

GQdaLEGEND

Well-known member
Awards
4
  • Established
  • Best Answer
  • First Up Vote
  • RockStar
I hope everything turns out, but I would not feel comfortable with any money in SafeMoon. I'm just watching the drops and then little 1-2% increases and then more drops and the Redditors act like it's a good thing.
just manipulation bro .. safemoon ceo/workers have the been most active and have promised and showed what it does

shib - on other hand , i believe it came before safemoon as a doge killer has prolly 2-3x the follwers

i thought safemoon wouldnt break that .19 level but very surprised like yourself and don't know what to make of it .. but i think ax1 has reminded everyone here couple of months ..its only couple of months old ..so i am going to just be patient and ride it out

safemoon joe thinks we will knock out 2 zeros by december lol
 
  • Like
Reactions: ax1
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
I hope everything turns out, but I would not feel comfortable with any money in SafeMoon. I'm just watching the drops and then little 1-2% increases and then more drops and the Redditors act like it's a good thing.
When I first got into this it was all about the whales having too much leverage….now they are dumping, those on pancake swap are benefiting with a lot of reflections and the companies fundamentals haven’t changed but only looked more promising.

Whales dumped 7 trillion last night, I just wish I had money to buy more….I’m willing to risk it all if goes down to zero I’ll be pissed but I’ll be fine.
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
just manipulation bro .. safemoon ceo/workers have the been most active and have promised and showed what it does

shib - on other hand , i believe it came before safemoon as a doge killer has prolly 2-3x the follwers

i thought safemoon wouldnt break that .19 level but very surprised like yourself and don't know what to make of it .. but i think ax1 has reminded everyone here couple of months ..its only couple of months old ..so i am going to just be patient and ride it out

safemoon joe thinks we will knock out 2 zeros by december lol
Yup only 5 months old now…exciting things coming soon.

With the exchange 2 zeros is possible, blockchain is in December and other cryptos already on plans to use their system. 2 zeros is a long shot but if all goes well and Safemoon being used as a gas fee I can see it happening by next year….no guarantees of course. They really have to deliver and get people to want to use the system.

Safemoon Joe is the man!
 
BamBam54

BamBam54

Active member
Awards
3
  • First Up Vote
  • Established
  • RockStar
Its concerning that all the other cryptos rebounded following the bitcoin/ethereum bounce off bottom... but safemoon didn't.

Personally, I try to stay clear of anything with that needs scientific notation for pricing at 1.6 e-6 dollars. 😃
 

kisaj

Legend
Awards
3
  • RockStar
  • Established
  • First Up Vote
Not to mention one of the Safemoon devs that created Surge is being accused of a rug pull that happened yesterday. If it were me, I'd be on the sidelines with my money until it can be a little more clear what is happening with the whale sell off as well.
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Not to mention one of the Safemoon devs that created Surge is being accused of a rug pull that happened yesterday. If it were me, I'd be on the sidelines with my money until it can be a little more clear what is happening with the whale sell off as well.
That was one dev with his own independent project that was hired a couple months ago and he was fired already. Not sure he was really even an official “dev.”

That doesn’t mean the story is certain of course.
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Its concerning that all the other cryptos rebounded following the bitcoin/ethereum bounce off bottom... but safemoon didn't.

Personally, I try to stay clear of anything with that needs scientific notation for pricing at 1.6 e-6 dollars.
There is always something though…it went from too much whale influence to too much whale dumping.

As a long term holder the dumps and price drops will only benefit me in terms of my wallet increasing, I gained some 6 million tokens this past week. Lower price/higher volume is welcoming, until actual real use utility is released in a few months.
 
ax1

ax1

Legend
Awards
3
  • RockStar
  • Legend!
  • Established
Just want to make sure you all know I’m not trying to persuade anybody to invest in Safemoon, there are certainly less riskier coins out there that are great. Keep posting counter thoughts, it’s good.

Disclaimer: Safemoon is by far my biggest holding so I just have some belief bias in it and willing to risk everything I put into it for a potential high reward situation.
 
enhanced

enhanced

Well-known member
Awards
4
  • RockStar
  • Established
  • First Up Vote
  • Best Answer
Ok, this thread is 79 pages long.. I want to learn more, but don't think I can make it through every page of this..

Mining.. Is it more profitable than buying shares? I'm assuming that my son's hi tech gaming PC probably couldn't handle mining, correct?

Is there somewhere I could go to learn the ins and outs of mining?

Thanks!
 
GreenMachineX

GreenMachineX

Well-known member
Awards
4
  • Established
  • First Up Vote
  • Best Answer
  • RockStar
Ok, this thread is 79 pages long.. I want to learn more, but don't think I can make it through every page of this..

Mining.. Is it more profitable than buying shares? I'm assuming that my son's hi tech gaming PC probably couldn't handle mining, correct?

Is there somewhere I could go to learn the ins and outs of mining?

Thanks!
I don't think we ever discussed real mining here, just staking, farming and I recently got into lite mining through the Jenn token...mining Cosmic.
 

Similar threads


Top