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Post by Ginger on Apr 6, 2021 8:46:14 GMT -6
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Post by socal on Apr 7, 2021 6:25:45 GMT -6
Will let you know how things go for me. After reading your post, thought why not. So proceeded to either gave away all my personally identifying information and will have a drained bank account... or legitimately setup an account around 10 last night.
$350 spread fairly evenly across 9 different currencies... Is now worth $283.06!!! FUCK YES!!! That said, strategy was to get a bunch of cheap ones and hold, hoping one went for a ride.
Legit cheaper than a casino I guess. Unless the PII I gave leads to a drained bank account.
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Post by NOTTHOR on Apr 7, 2021 7:18:44 GMT -6
Will let you know how things go for me. After reading your post, thought why not. So proceeded to either gave away all my personally identifying information and will have a drained bank account... or legitimately setup an account around 10 last night. $350 spread fairly evenly across 9 different currencies... Is now worth $283.06!!! FUCK YES!!! That said, strategy was to get a bunch of cheap ones and hold, hoping one went for a ride. Legit cheaper than a casino I guess. Unless the PII I gave leads to a drained bank account. What platform? I've been trying to set up an institutional account for a month for someone and finally am in the KYC process with one and they want the fucking EIN letter from the IRS that was issued 25 years ago. Guh. FML.
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Post by socal on Apr 7, 2021 8:03:21 GMT -6
I did through Coinbase. My worry was uploading copies of my DL. ...along with them having my last 4, address, & bank info.
Back up to $301.22!!!
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Post by socal on Apr 7, 2021 8:21:32 GMT -6
Something tells me the EIN/DL requirements are for attempting to stem what has to be a tidal wave of money laundering.
There are some promotional videos touting different coins. Coin X allows Sally to instantly send $100 to her mom in Mexico... and Coin Y allows Joey to send $100 to his mom in the Phillipines.
I'm not sure I'm up to learning how to actually withdraw whatever money I end up with, so for ease - I might eventually just consolidate it and buy a NFT for my kids to remember me by.
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Post by NOTTHOR on Apr 7, 2021 8:37:40 GMT -6
Something tells me the EIN/DL requirements are for attempting to stem what has to be a tidal wave of money laundering. There are some promotional videos touting different coins. Coin X allows Sally to instantly send $100 to her mom in Mexico... and Coin Y allows Joey to send $100 to his mom in the Phillipines. I'm not sure I'm up to learning how to actually withdraw whatever money I end up with, so for ease - I might eventually just consolidate it and buy a NFT for my kids to remember me by. Yeah, it is a money laundering thing. But I've opened at least a dozen fund positions with this entity and never been asked for the actual EIN letter. Actual banks and funds will just take a W-9 and be done with it. I think these companies have a bunch of tech people and they have no fucking clue what they're doing in the back office but they are trying to run the Uber model of "ignore all regulatory shit until we have critical mass and then hope the blowback from the public eviscerates the regulatory risk." But then on the institutional AML side, they don't want to get iced out of the wire system and they don't have anyone on staff with judgment or connections like a Goldman or JPM has so they're just like "let's go as ballz deep as possible..."
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Post by socal on Apr 7, 2021 10:04:21 GMT -6
Something tells me the EIN/DL requirements are for attempting to stem what has to be a tidal wave of money laundering. There are some promotional videos touting different coins. Coin X allows Sally to instantly send $100 to her mom in Mexico... and Coin Y allows Joey to send $100 to his mom in the Phillipines. I'm not sure I'm up to learning how to actually withdraw whatever money I end up with, so for ease - I might eventually just consolidate it and buy a NFT for my kids to remember me by. Yeah, it is a money laundering thing. But I've opened at least a dozen fund positions with this entity and never been asked for the actual EIN letter. Actual banks and funds will just take a W-9 and be done with it. I think these companies have a bunch of tech people and they have no fucking clue what they're doing in the back office but they are trying to run the Uber model of "ignore all regulatory shit until we have critical mass and then hope the blowback from the public eviscerates the regulatory risk." But then on the institutional AML side, they don't want to get iced out of the wire system and they don't have anyone on staff with judgment or connections like a Goldman or JPM has so they're just like "let's go as ballz deep as possible..." I'd worry less about an EIN letter, as is a public item. Unless they were lucky to track its location, just order another. www.irs.gov/businesses/small-businesses-self-employed/lost-or-misplaced-your-ein. Or just create a new subsidiary with a brand spanking new one. 100 billable hours for 4 hrs of template work.
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Post by NOTTHOR on Apr 7, 2021 10:57:21 GMT -6
Yeah, it is a money laundering thing. But I've opened at least a dozen fund positions with this entity and never been asked for the actual EIN letter. Actual banks and funds will just take a W-9 and be done with it. I think these companies have a bunch of tech people and they have no fucking clue what they're doing in the back office but they are trying to run the Uber model of "ignore all regulatory shit until we have critical mass and then hope the blowback from the public eviscerates the regulatory risk." But then on the institutional AML side, they don't want to get iced out of the wire system and they don't have anyone on staff with judgment or connections like a Goldman or JPM has so they're just like "let's go as ballz deep as possible..." I'd worry less about an EIN letter, as is a public item. Unless they were lucky to track its location, just order another. www.irs.gov/businesses/small-businesses-self-employed/lost-or-misplaced-your-ein. Or just create a new subsidiary with a brand spanking new one. 100 billable hours for 4 hrs of template work. You can only order a new letter over the phone and the wait times are basically all day. I've had a secretary on hold with the IRS bince about 8:15 this morning. If we can't get it by tomorrow, I'll just make a new company and get them a bank account. Completely fucking pointless exercise.
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Post by Ginger on Apr 7, 2021 11:35:56 GMT -6
How do you all feel about the Chine-uh money though? Looks like another way foe their government to track you. And they can set an expiration date on the money?
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Post by socal on Apr 7, 2021 12:57:30 GMT -6
How do you all feel about the Chine-uh money though? Looks like another way foe their government to track you. And they can set an expiration date on the money? That is what intrigued me and made me sign up. I was for a Chinese coin - as I'm pretty sure they would find a way to make it succeed. BUT... it goes counter to the whole decentralized concept. If it comes online though, I will certainly buy some if initially reasonably priced. My garden gnomes, windmills, and general auction or Amazon purchase history shows that I've wasted $$$ on worse investments.
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Post by thunderhawk on Apr 7, 2021 16:42:31 GMT -6
I think I’ll stick to index funds and real estate
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Post by Ginger on Apr 8, 2021 8:34:29 GMT -6
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Post by Ginger on Apr 8, 2021 8:56:03 GMT -6
Okay so I know that I can read beyond normal 8th grade reading level but there’s a lot of top-specific lingo here and I have no idea what it means. Can someone translate? safemoon.net/whitepaper
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Post by socal on Apr 8, 2021 12:23:21 GMT -6
Okay so I know that I can read beyond normal 8th grade reading level but there’s a lot of top-specific lingo here and I have no idea what it means. Can someone translate? safemoon.net/whitepaperI'd just equate them to mexican food or a present day beer aisle. Mostly the same ingredients fashioned slightly differently with a different name. Without reading... a translation: Will securely buy and or monitor the transfer of digital currency through a super-duper secure way to your mother/aunt needing some cash to buy a pizza on the other side of the world. Or a currency backing/insuring the secure transaction thereof. Did I mention secure? No?? It is super secure.
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Post by Presidential Immunity Cock on Apr 8, 2021 14:51:51 GMT -6
I went balls deep into dogecoin earlier this year when I could pick up a coin for less than a penny. Then sold it right when it peaked around 8cents a coin. Only downside is that I didn't toss more at it.
Part of me wonders if XRP will recover as it is a separate entity to the creators who are in deep shit and if it will jump a bit. Also, last summer I had about 25k to toss at bitcoin and if I got and held it and sold it recently I would have made pretty solid profits from it. I probably would have only sold half a coin to safeguard my initial investment so that would be money not lost.
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Post by socal on Apr 8, 2021 16:23:01 GMT -6
I've recovered back up to my initial investments. So might play some more now that the risk of Mrs killing me has abated.
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Post by socal on Apr 9, 2021 6:35:44 GMT -6
I went balls deep into dogecoin earlier this year when I could pick up a coin for less than a penny. Then sold it right when it peaked around 8cents a coin. Only downside is that I didn't toss more at it. Part of me wonders if XRP will recover as it is a separate entity to the creators who are in deep shit and if it will jump a bit. Also, last summer I had about 25k to toss at bitcoin and if I got and held it and sold it recently I would have made pretty solid profits from it. I probably would have only sold half a coin to safeguard my initial investment so that would be money not lost. What site do you trade through? Not overly impressed with coinbase. Site is overly simple and counter to how I like to look at stuff.
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Post by Presidential Immunity Cock on Apr 9, 2021 8:17:33 GMT -6
I went balls deep into dogecoin earlier this year when I could pick up a coin for less than a penny. Then sold it right when it peaked around 8cents a coin. Only downside is that I didn't toss more at it. Part of me wonders if XRP will recover as it is a separate entity to the creators who are in deep shit and if it will jump a bit. Also, last summer I had about 25k to toss at bitcoin and if I got and held it and sold it recently I would have made pretty solid profits from it. I probably would have only sold half a coin to safeguard my initial investment so that would be money not lost. What site do you trade through? Not overly impressed with coinbase. Site is overly simple and counter to how I like to look at stuff. Well, so far, just been working in Robinhood for that. But I do have an account with Kraken that I haven't really used yet. They seem to have more options on what coins you can buy.
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Post by Logan Roy’s Bastard Son on Apr 9, 2021 9:45:54 GMT -6
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Post by socal on Apr 9, 2021 9:54:56 GMT -6
I'm buying more BTC then. Fuck Thiel
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Post by socal on Apr 12, 2021 5:35:58 GMT -6
Found out the free (with coinbase account) pro.coinbase.com/ is more aligned with what I'm looking for numbers-wise. AND transaction fees are MUCH cheaper. That said, the Pro gives you the view of all the friggin daytraders queued up. Is fun watching the obvious movements of individual traders. I'm getting intrigued now about taking a day off and riding the $.01 to .02 rollercoaster.
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Post by TaterWanger on Apr 12, 2021 6:09:19 GMT -6
Found out the free (with coinbase account) pro.coinbase.com/ is more aligned with what I'm looking for numbers-wise. AND transaction fees are MUCH cheaper. That said, the Pro gives you the view of all the friggin daytraders queued up. Is fun watching the obvious movements of individual traders. I'm getting intrigued now about taking a day off and riding the $.01 to .02 rollercoaster. FWIW Coinbase has also filed paperwork to with the SEC to go public.
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Post by socal on Apr 12, 2021 8:58:49 GMT -6
Found out the free (with coinbase account) pro.coinbase.com/ is more aligned with what I'm looking for numbers-wise. AND transaction fees are MUCH cheaper. That said, the Pro gives you the view of all the friggin daytraders queued up. Is fun watching the obvious movements of individual traders. I'm getting intrigued now about taking a day off and riding the $.01 to .02 rollercoaster. FWIW Coinbase has also filed paperwork to with the SEC to go public. Saw that. I think the IPO is Wednesday.
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Post by Ginger on Apr 13, 2021 20:14:17 GMT -6
Guys. I gotta $1000 bucks in my Apple wallet. What should I do with it?
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Post by NOTTHOR on Apr 13, 2021 22:08:08 GMT -6
Guys. I gotta $1000 bucks in my Apple wallet. What should I do with it? Spend it all on 5.56 ammo. Hold for 3 years. Sell.
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