Current Events > I sold my litecoin for a 900 dollar profit - I don't care I'm out

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Caution999
12/15/17 12:54:11 PM
#1:


Don't care. Just gonna pretend I found 900 dollars on the street. I got money for nothing - and I don't have to worry anymore and can buy back in if something dips later
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Megaman50100
12/15/17 12:55:38 PM
#2:


Congrats on turning a profit, sorry it was causing worry.
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Balrog0
12/15/17 12:56:24 PM
#3:


nice
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Wishy
12/15/17 12:56:26 PM
#4:


yeah crypto isn't for the neurotic
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Caution999
12/15/17 1:04:11 PM
#5:


Wishy posted...
yeah crypto isn't for the neurotic


Of course I'm gonna say I was fine when things were booming, but the last few days had me stressed. Wondering if I'd lose the 900 or not and finally decided to take it out at $317 or so.

My first experience in crypto pretty successful and I'm happy and I will likely go it again nest year
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#6
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Talks
12/15/17 1:09:21 PM
#7:


Yes anxiety is a big problem for me when I'm holding.
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Turtlebread
12/15/17 1:12:26 PM
#8:


I too think I should give crypto a rest for a while, I'll still be holding coins though. I'm just sick of staring at prices for hours a day.
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BignutzisBack
12/15/17 1:13:58 PM
#9:


Talks posted...
Yes anxiety is a big problem for me when I'm holding.


Turtlebread posted...
I too think I should give crypto a rest for a while, I'll still be holding coins though. I'm just sick of staring at prices for hours a day.


it's kind of taking over my life at times and dominating my thoughts, I don't even have anymore cash to put into right now either but I still stare at coinbase or look up market caps

I need to just stop for awhile or at least until I have more money to spend
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3khc
12/15/17 1:14:01 PM
#10:


Do it again when it dips
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Jabodie
12/15/17 1:14:08 PM
#11:


Just remember to report it on your taxes haha.

Honestly, I'd consider taking even $100 of that and putting it into a promising alt coin, especially if there's a big crash/correction soon.

Something you'd be willing to lose, but you could make huge margins on it.
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iamintents
12/15/17 1:18:38 PM
#12:


Lol

Still nice tho
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Colorahdo
12/15/17 1:20:35 PM
#13:


I feel like CE has no concept of good investing. There's panic whenever crypto rises or falls

What about long term investments? Diversifying? Day trading is just gambling...
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Talks
12/15/17 1:32:31 PM
#14:


Colorahdo posted...
I feel like CE has no concept of good investing. There's panic whenever crypto rises or falls

What about long term investments? Diversifying? Day trading is just gambling...

I think people here are into it because its gambling. It can be fun. I think most people here have the sense to go to reputable sources if they wanted to learn about real investing.
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Caution999
12/15/17 1:33:52 PM
#15:


Jabodie posted...
Just remember to report it on your taxes haha.

Honestly, I'd consider taking even $100 of that and putting it into a promising alt coin, especially if there's a big crash/correction soon.

Something you'd be willing to lose, but you could make huge margins on it.


I'm gonna do that next year. I need to pay my health Insurance bill, and this was a life saver. I wasn't gonna be greedy. God was basically saying "i'll take care of a huge bill for you" Who am I to say no?
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EvalAngell
12/15/17 1:34:53 PM
#16:


should waited another week or two Caution. The futures announcement would have probably caused another Litecoin swell.
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Caution999
12/15/17 1:36:05 PM
#17:


Wasn't worth the stress of constantly eyeing it knowing I could pay a bill with it. :(

Michael Vick approves >_>
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Jabodie
12/15/17 1:36:54 PM
#18:


Caution999 posted...
I'm gonna do that next year. I need to pay my health Insurance bill, and this was a life saver. I wasn't gonna be greedy. God was basically saying "i'll take care of a huge bill for you" Who am I to say no?

Oh that's totally reasonable.

No reason to risk around when there is actual urgent need.
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Eat More Beef
12/15/17 1:38:35 PM
#19:


Good job dude. The best part is knowing when to quit.

Why not keep $500 and reinvest the rest, though?

You're still up and you can diversify a bit.
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EvalAngell
12/15/17 1:39:01 PM
#20:


Caution999 posted...
Wasn't worth the stress of constantly eyeing it knowing I could pay a bill with it. :(

Michael Vick approves >_>


I ain't mad at you...I wish I got in when you did lol
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Krojen
12/15/17 1:55:01 PM
#21:


Don't forget the taxes!
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CapnMuffin
12/15/17 2:09:29 PM
#22:


Imagine having a big portfolio and watching it bump and dip in the 6 digit range
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Talks
12/15/17 2:17:06 PM
#23:


CapnMuffin posted...
Imagine having a big portfolio and watching it bump and dip in the 6 digit range

I have to imagine there are really few people to whom 6 digits is really important, and also have six digits in volatile cryptos.
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#24
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Jiek_Fafn
12/15/17 2:24:24 PM
#25:


People might harp on you for having weak hands or whatever but you made a bunch of money really fast without really doing anything. This holiday season crypto has essentially just been handing out free money to everyone involved. It's been a great short term investment.
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kinetika_
12/15/17 7:25:03 PM
#26:


I must have a good amount of assets because I'm never scared about dips lol
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Lorenzo_2003
12/15/17 7:31:51 PM
#27:


Good for you. You got a profit out of the situation and can walk away peacefully. I'm not yet ready to sell, but I've decided to stop looking at the status of my coins. It's just speculation at this point anyway.
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Jabodie
12/15/17 7:32:44 PM
#28:


Lorenzo_2003 posted...
Good for you. You got a profit out of the situation and can walk away peacefully. I'm not yet ready to sell, but I've decided to stop looking at the status of my coins. It's just speculation at this point anyway.

The only one I plan on checking more than once a day is TRX.

If anything big happens with the others I have the board will let me know.
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doomcrusader
12/15/17 7:38:15 PM
#29:


I'm also thinking about cashing out early next year. Better to know you've won then potentially lose big after some sort of inevitable government regulation.

I'm already up 7,000 so I'll have made a solid chunk of change. No complaints.
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Millennials
12/15/17 7:42:08 PM
#30:


I put in quite a bit of money when it was at 99 and I've not even looked at it. I know it's gone up but I don't care. I didn't need the money and was probably going to blow it on something stupid, so as far as I know or care, it's just lost in the void. If I need it I'll go back and get into it and whatever profit but other than that, I'm not going to agonize over it.
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Rob Cesternino
12/15/17 9:01:16 PM
#31:


Caution999 posted...
Jabodie posted...
Just remember to report it on your taxes haha.

Honestly, I'd consider taking even $100 of that and putting it into a promising alt coin, especially if there's a big crash/correction soon.

Something you'd be willing to lose, but you could make huge margins on it.


I'm gonna do that next year. I need to pay my health Insurance bill, and this was a life saver. I wasn't gonna be greedy. God was basically saying "i'll take care of a huge bill for you" Who am I to say no?


God is good.
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fire_bolt
12/15/17 9:03:46 PM
#32:


Good for you, bro. No reason to feel bad when you left the game a winner.
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FLAMING EVIL HOMER
12/15/17 9:06:01 PM
#33:


So uhhh what happens if you forget to put it in our taxes?....
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The_Juice_
12/15/17 9:11:19 PM
#34:


Just make sure to save about 25% of your profit for taxes.

It's actually different amounts in different states but 25% is a decent guideline.
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Jabodie
12/15/17 9:53:42 PM
#35:


FLAMING EVIL HOMER posted...
So uhhh what happens if you forget to put it in our taxes?....

Coinbase is now legally obligated to hand over the information of users who handle above a certain amount of money to the IRS.

So if you're making a lot of money through Coinbase, you can potentially get hit with tax evasion.

You can probably avoid this just by cashing out in a different market, but it's probably safer just to pay your capital gains taxes.
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apolloooo
12/16/17 10:52:46 AM
#36:


I used to try to day trade too and its driving me insane.

Nowadays i just pick a coin that seems good, with solid technology and team and hold it for mid-length of time and profit
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clearaflagrantj
12/16/17 11:27:23 AM
#37:


Report your fucking profits to the IRS folks.
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