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shitcoins

Discussion in 'The Kruse Longevity Center' started by primalmofo, Apr 10, 2021.

  1. primalmofo

    primalmofo Student Doctor

    Hi @Jack Kruse

    Can't tell you how much I appreciate you taking the time to prepare us for upcoming inflation.

    I own aave and uma. Should I sell these and buy btc? I would have to buy eth to pay for gas fees.

    Or should I just hold?
     
  2. caroline

    caroline Moderator

    Did you listen to Jack this morning on Clubhouse?
     
  3. primalmofo

    primalmofo Student Doctor

    I was able to listen to some of it. I know that the only thing worth buying now is bitcoin, but I was just unclear on what I should do if I already own shitcoins. Convert immediately or not considering taxes and gas fees
     
  4. Hunger4More

    Hunger4More New Member

    Here's how I understand it: shitcoins are ok to own if your BTC position is solid.

    I don't know what your position is. But it's never a bad idea to keep dollar cost averaging into BTC
     
    primalmofo likes this.
  5. JanSz

    JanSz Gold

    What are shitcoins? My understanding is that they are all cryptocurrencies (except) Bitcoin, BTC.

    Ther are also local currencies, US$, Canadian$, AU$, NZ$, EU, other, Zloty, other.

    When God was trying to stop people from reaching the heavens, HE( or SHE) mixed meaning of words, the Tower of Babel remained unfinished.

    Now we are witnessing similar communication problems.
    New words, the new meaning of the old words. A murderer is a hero, the defender is a villain.
    The space between "hero" and "villain" is made messy (on purpose).
    -------------------------------------------------------------------------------------
    There is no question that BTC has very high volatility, sometimes extreme volatility.
    That volatility may cause problems, (TRAPS) that may be designed intentionally or unintentionally by "clever" politicians.
    Investigate when (on what particular day) you begin to owe taxes.
    From what I am hearing in Australia they may be checking your "status" twice yearly.
    In my case, in USA, my account is checked on Dec 31.
    I MUST sell the prescribed portion of the account (on Dec 31) AND pay taxes on that amount of money.
    They are giving me a whole year to sell. AND that may become a TRAP.
    Due to volatility
    I may not have anything to sell if I wait over January 2.


    ///////////
     
    John Schumacher likes this.
  6. primalmofo

    primalmofo Student Doctor

    shitcoins is a term used by people who think bitcoin is the one and only crypto that will last. referring to all crypto besides bitcoin. Dr. Kruse thinks this is the case, I respectfully disagree that there will only be one blockchain, that is bitcoin, in the future.

    I agree it is the "safest" crypto play though. I ended up rearranging so mostly bitcoin and have a few other positions.
     
    JanSz likes this.
  7. JanSz

    JanSz Gold

    There will definitely be a number of crypto imposters, some of them funded by governments of a variety of countries. At least that is my understanding of what @Jack Kruse is saying. But none of them will have a fixed limit, so if the need arises, the printer will start running. Being imposters they will be camouflaged in the best possible ways, including propaganda and false statements.
    .
     
    John Schumacher likes this.
  8. primalmofo

    primalmofo Student Doctor

    there's a large number of cryptos with a fixed supply
     
    JanSz likes this.

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