CREW TECH OFFICIAL Crypto Thread - so...WHO'S HIRING???

[Sean6293]

What's the plan for today?

A. Get rich
B. Get poor
C. Die trying

combo of B and C most likely

 

[Cicada]

triple bottom

you know where it's headed next...

Gold jacket, green jacket, who gives a shit

 

[Faikius]

What's the plan for today?

A. Get rich
B. Get poor
C. Die trying

D. All of the Above

 

[Chirp08]

What's the plan for today?

A. Get rich
B. Get poor
C. Die trying

D. Die poor

 

[Firewall97]

 

[Bobert]

D. Die poor

Succint "all of the above" answer

 

[Bobert]

Saito just went full on shitcoin:

 

[Shroomy]

Not a tax lawyer here, but yes, this is how I'm going about it. The NFT purchase date is when I'm starting my counter for the 13k tokens and sets the cost basis. I think this is at least a defensible position against the IRS since I did buy the NFT as a representation of the tokens. Of course, that doesn't mean that I'd win, but I'm willing to roll the dice on it.

For what it's worth, I listened to an nft tax podcast featuring some tax lawyers and this was their take as well.

 

[Bobert]

For what it's worth, I listened to an nft tax podcast featuring some tax lawyers and this was their take as well.

Which podcast is that on?

 

[Midgetized]

Saito just went full on shitcoin:

aww they're so cute and it's the first NFT on SAITO tempted but fuck ETH

 

[MiseryIndex]

In the past 24 hours​

Market is up​

6.66%​

 

[Cicada]

gm

 

[Midgetized]

gm

View attachment 191451

this guy probably has condoms with the link logo on them

 

[Cicada]

Saito just went full on shitcoin:

Tbh, outside of speculation, NFTs and ponzis are like the only use cases for most tokens atm

I guess it’s good for Saito, because people are starting to build on it — did it have anything like this before, or was it just the token?

 

[NiggaPHX420]

this is me


every day

 

[Hisma]

In the past 24 hours​

Market is up​

6.66%​

its something I find interesting. When the entire stock market is tanking AND crypto is tanking, where does that money go? I assume many are just holding cash, but inflation at 6+% doesn't make that a strong position. Real estate is overvalued & rates are going up soon. Bonds are peanuts. At some point, I would assume people will look at crypto, which was definitely over-inflated, but has retraced 50+% in just the past 3 months, and think "okay there's some upside here".
Just my rarted overly optimistic ass, but this is the first day in a long time I haven't seen a strong correlation between stocks & crypto. I can only hope that more investors start to see value at these prices. Seems to be what we're seeing today.
ibbulltrap&massiveselloff

 

[AndyP]

its something I find interesting. When the entire stock market is tanking AND crypto is tanking, where does that money go? I assume many are just holding cash, but inflation is up as well. Bonds are peanuts. At some point, I would assume people will look at stocks, which have been over inflated since the pandemic started and is selling off, then look at crypto, which was also over-inflated, but has retraced 50+% in just the past 3 months, and think "okay there's some upside here".
Just my rarted overly optimistic ass, but this is the first day in a long time I haven't seen a strong correlation between stocks & crypto. I can only hope that more investors start to see value at these prices. Seems to be what we're seeing today.
ibbulltrap&massiveselloff

Money isn't going anywhere. The valuation is based off of what people are willing to pay for securities/tokens. I can make a new token that has a supply of two. You bid $1,000,000 for one and I have a sell order at $1,500,000. The valuation on a chart would be pegged at 1.25million. If you decide to amend your order to $1 and the set point drops- no money went anywhere.

 

[AndyP]

Selling and buying doesn't even have to happen to change valuation by extreme amounts.

 

[MiseryIndex]

its something I find interesting. When the entire stock market is tanking AND crypto is tanking, where does that money go? I assume many are just holding cash, but inflation at 6+% doesn't make that a strong position. Real estate is overvalued & rates are going up soon. Bonds are peanuts. At some point, I would assume people will look at crypto, which was definitely over-inflated, but has retraced 50+% in just the past 3 months, and think "okay there's some upside here".
Just my rarted overly optimistic ass, but this is the first day in a long time I haven't seen a strong correlation between stocks & crypto. I can only hope that more investors start to see value at these prices. Seems to be what we're seeing today.
ibbulltrap&massiveselloff

don't stablecoins inflows usually go up when teh crypto market itself sells off?

 

[Hisma]

Money isn't going anywhere. The valuation is based off of what people are willing to pay for securities/tokens. I can make a new token that has a supply of two. You bid $1,000,000 for one and I have a sell order at $1,500,000. The valuation on a chart would be pegged at 1.25million. If you decide to amend your order to $1 and the set point drops- no money went anywhere.

Money is definitely moving as folks derisk. Profit is being taken, leveraged longs are being liquidated by shorts, etc etc. You can simply view the outflows on chain.

 

[riznat]

wasnt there some NFT i was supposed to go for today?

 

[Hisma]

don't stablecoins inflows usually go up when teh crypto market itself sells off?

Yes. People swap to stables, but also with all the institutional money sloshing around, there is actual outflow of money as well.

Cryptocurrencies see outflows in final week of 2021 - CoinShares data

The final week of 2021 saw a third straight week of investment outflows from cryptocurrency funds, even as it capped a year of strong inflows into digital asset investment products, data from digital currency manager CoinShares showed.

www.reuters.com

 

[dorkultra]

i'm predicting that the IRS is incredibly understaffed and won't do much about crypto taxes this year

 

[Firewall97]

 

[Cicada]

Money is definitely moving as folks derisk. Profit is being taken, leveraged longs are being liquidated by shorts, etc etc. You can simply view the outflows on chain.

sounds like you answered your own question