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

Shroomy

OT Supporter
Sep 21, 2002
70,930
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.
 
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Cicada

Abraham $LINK’in
OT Supporter
Sep 30, 2008
177,849
SoCal
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? :dunno:
 

NiggaPHX420

OT Supporter
Jan 17, 2002
73,214
Phoenix, AZ
D0CB1C68-43B4-47DB-AEAD-01CB1DAE7704.jpeg

this is me


every day
 

Hisma

OT Supporter
Apr 2, 2006
59,213
Reno, NV

In the past 24 hours​

Market is up​

6.66%​


:coold:
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
 
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AndyP

OT Supporter
Jun 17, 2004
18,396
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.
 
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MiseryIndex

open your eyes child, your sea is changing.
Nov 9, 2000
186,181
heaven's fence.
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

OT Supporter
Apr 2, 2006
59,213
Reno, NV
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.
 

Hisma

OT Supporter
Apr 2, 2006
59,213
Reno, NV
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.
 

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