Not a surprise. Crypto has the potential to undermine involuntary taxation. Of course big government has to try to control it.

Glad I stuffed all my BTC into XMR on Monday. Looks like that will be the best damage control and defense against bureaucrats.

I hate how the SEC knows 100% of what I’m trading, but I don’t know how I should properly file the tax return. You already know, why do I have to do the paperwork?

@Justice - WI why xmr? I'm out of the loop. Guys I have litecoin and that's it right now, what do you think?

I hate seeing it go down but I thought it was predicted to sail this year, I suppose all in all it is going up still though

hodl

@Volkmom XMR was gaining on BTC for a while. The more governments try to mess with crypto, the more untraceable currencies like XMR will prevail.

Plus my mining rig does better on cryptonight algorithms.

I recommend you put a little on Binance and learn candlestick charts. You can gain a lot just by watching.

Any recommendations on how to get into Monero (how to acquire, store, etc.)?

@Justice - WI Are candle stick charts useful at all for holding?

@Jacob You can try to cut your losses by playing around with alt coins at the very least.

oh I'm only in alts

🅱itcoin gonna die

@Argument of Perigee Take your ETH, or BTC and put it on Binance and trade for some. It's really easy.

Thank you @Justice - WI

What about storage?

@Argument of Perigee It's not recommend to store on an exchange but I haven't heard of Binance having any problems.

Unlike other exchanges, the app is really streamlined.

Just use the official Monero wallet?

Ledger Nano S doesn't support XMR.

The official full node one takes an extremely long time to sync the first on a PC. Like 2 days​. But very secure.

@Justice - WI ty

I'm interested in holding, but I don't mind being able to take some gains out here and there to help pay bills, as strange as they may sound.

So maybe keeping some $ in something that's likely going to gain longer term and also using some to trade for quick gains is what I'm looking for

Alt coins with the exception of successful ones like Monero probably aren't your thing then.

I don't think BTC or ETH are going anywhere any time soon.

Well for a while there LTC was doing both for me

Idk I still have a lot to learn

You could do a little trading between the main ones on places like coinbase. They're all pretty stable. To do alt coins trading (pump and dump) there's a lot of babysitting involved.

@Argument of Perigee another option to get XMR is to use shapeshift.io

Thanks @ThisIsChris I'll check it out.

XMR is losing bad against BTC right now. But it has always fluctuated between 190 and high 300's. Really all I'm doing is trading between XMR and BTC as all cryptos are in a slump.

Hey goys, I'm new to crypto and looking to set up a BTC wallet. Any of you use Coinbase? If not, what do you recommend?

@NuclearReactionary yeah I think CoinBase is the way to go, and then you get an attached GDAX account which is where most investment-style trading occurs (GDAX is run by Coinbase)

Ok, @ThisIsChris , thanks. I was a little confused when I read the pinned posts: “Do not trust any online wallet service”

But Coinbase looks pretty trustworthy and powerful

Coinbase is the only one I trust and recommend to new people. And like Chris said, GDAX is for the next level, also trustworthy.

If we're talking large positions of cryptos (thousands of Dollars), you will probably want to look into a hardware wallet like Ledger Nano S or TREZOR.

Thanks! I’ll go with Coinbase then!

There are a few BTC ATMs in San Jose. Also there is a website called localbitcoins.com that you can connect with buyers and sellers in person through.