Investing

"I lost money on cryptocurrency" thread

  • Last Updated:
  • Oct 1st, 2019 6:01 am
Deal Addict
May 31, 2007
4996 posts
2110 upvotes
Well if the cra wants to know about your capital gains, does that mean you can claim capital loss with crypto?
Deal Expert
User avatar
Apr 21, 2004
50537 posts
15312 upvotes
I'm sure they can. But who on RFD would have lost money?

Surprised for it to be considered capital gains when it is treated as a commodity and investment gains or losses should apply (I think).
Deal Addict
Feb 6, 2008
1178 posts
737 upvotes
Hamilton
Interesting paragraph from Coinbase:

The exponential rise in Bitcoin and other cryptocurrencies attracted a number of new traders who embarked on a buying spree - mainly purchasing cryptocurrencies using credit cards.

Following the huge decline in 2018, the top 5 credit card companies have either banned or have announced a ban on cryptocurrency purchases using credit cards.

As a result, late entrants to the rally, who had purchased cryptocurrency using borrowed money and are nursing losses of more than 50 percent will now be forced to square up their positions.

This is likely to result in another round of panic selling, which will shake out the weak hands. These lower levels will attract a new set of investors who believe in the technology and have been waiting to invest at the right opportunity.
Deal Guru
Aug 2, 2010
14309 posts
4177 upvotes
Here 'n There
I am starting RFDcoin. It's going to be the best crypto currency out there. Get in on the bottom floor. It can only go up right? Taking subscriptions now!

Don't lose out and regret it later!
Deal Fanatic
Jul 7, 2004
5241 posts
902 upvotes
Jungle wrote:
Feb 5th, 2018 2:36 pm
Well if the cra wants to know about your capital gains, does that mean you can claim capital loss with crypto?
If you're cashing out.
Deal Fanatic
Apr 25, 2006
5396 posts
676 upvotes
LOL.... Crypto bubble bursts!
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Deal Fanatic
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May 2, 2006
6288 posts
1579 upvotes
GTA
Most cryptos I'm watching are bouncing back today, some as high as 20%+. Too early to talk of full recovery but the worst may be over.
Deal Guru
User avatar
Dec 7, 2009
13794 posts
1304 upvotes
I love how salty the nocoiners still are. Just ready to pounce when bitcoin takes a 50% loss after a 300% gain.

Even though bitcoin has bounced to new highs 1000 times, they are certain 1001 is the time when it will fail for good. Keep dreaming guys. Let me know how your 4% mutual funds are doing next year.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

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Deal Fanatic
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Sep 8, 2007
7003 posts
6242 upvotes
Way Out of GTA
Syne wrote:
Feb 6th, 2018 4:54 pm
I love how salty the nocoiners still are. Just ready to pounce when bitcoin takes a 50% loss after a 300% gain.

Even though bitcoin has bounced to new highs 1000 times, they are certain 1001 is the time when it will fail for good. Keep dreaming guys. Let me know how your 4% mutual funds are doing next year.
Oh look who pops back up suddenly when there’s a bounce day.
Deal Expert
User avatar
Apr 21, 2004
50537 posts
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Those who are pumping are probably not buying even at these levels lol.

Ingenious to say the least.
Deal Fanatic
Apr 8, 2013
9216 posts
525 upvotes
izzyzz wrote:
Feb 6th, 2018 3:25 pm
Most cryptos I'm watching are bouncing back today, some as high as 20%+. Too early to talk of full recovery but the worst may be over.
Smiling Face With Sunglasses

People really think FUD scares people like me. Only the weak hands sold their BTC.

I do agree that its not the bottom yet but its definitely getting there. Bitcoin is still kicking people out who cant handle the volatility.

Clean it. Do it now so the next bull run will be even sweeter.
I love how salty the nocoiners still are. Just ready to pounce when bitcoin takes a 50% loss after a 300% gain.


True. They can call it ponzi scheme multi level scam all day long but reality is about to hit them soon. Regulation is coming. SEC in Congress today proves that its heading that way.

Cant call it a scam anymore once that happens. Winking Face
TORONTO RAPTORS IS THE 2019 NBA CHAMPIONS
Member
Mar 2, 2011
277 posts
49 upvotes
Toronto
alanbrenton wrote:
Feb 6th, 2018 6:14 pm
Those who are pumping are probably not buying even at these levels lol.

Ingenious to say the least.
nah, biggest daily volume buys in 2 years happened last daily candle across exchanges. They bought the panic

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