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    Tuesday, November 28, 2017

    Home Unlabelled Litecoin While everyone is jerking off on the price of Litecoin, the US congress is sneaking the criminalization of crypto in a hearing in Washington DC.

    Litecoin While everyone is jerking off on the price of Litecoin, the US congress is sneaking the criminalization of crypto in a hearing in Washington DC.

    November 28, 2017

    Litecoin While everyone is jerking off on the price of Litecoin, the US congress is sneaking the criminalization of crypto in a hearing in Washington DC.

    While everyone is jerking off on the price of Litecoin, the US congress is sneaking the criminalization of crypto in a hearing in Washington DC.

    Posted: 28 Nov 2017 08:44 AM PST

    It's damn time dear investors, let's pump away these trashcoins and get our deserved top-3 position back.

    Posted: 28 Nov 2017 08:01 AM PST

    Waiting for 100$

    Posted: 28 Nov 2017 10:27 AM PST

    [PSA] To all the newbies who I know are all over this sub right now...

    Posted: 27 Nov 2017 10:32 PM PST

    I don't generally post about crypto on Reddit, but I subscribe to and keep tabs on several crypto subs. As I'm sure the veterans of this space have noticed, there has been a pretty massive influx of new blood over the last couple of weeks or so. The proof is in the thread topics and the questions being asked. New people entering the space is fantastic and paves the way for mainstream adoption. Litecoin is rallying for various reasons and it's a great coin with a great community.

    With that being said, there will be a downturn/correction/crash/whatever you want to call it soon and many newbies will immediately sell off and go "I knew it was too good to be true" or "siighh..my dad was right, it is a sham"..

    DON'T BE ONE OF THOSE NEWBIES.

    Be strong, understand why the peaks and dips happen and at who's expense. The more manic people are when times are good, the more panicky they are when times are not so good.

    Be strong and know your limits. I know in your cursory explorations, you've probably seen someone write "don't buy more than you can afford to lose" more than once. This is extremely underrated and unfollowed advice. Part of being strong is not just holding during down times, but also not allowing yourself to buy what you can't afford. Not a financial adviser, just offering my opinion.

    Be strong and hold (I know, but this is serious)

    submitted by /u/ThePhantomTrain
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    Guy writes post in April warning newbs to not to buy the LTC hype. He bought at $15 and sold at $12.

    Posted: 28 Nov 2017 09:46 AM PST

    My first bitcoin cost less than litecoin's current price, and I never dreamed of $10k. I'm ready for round 2.

    Posted: 28 Nov 2017 04:13 AM PST

    Waiting for the 100$ like...

    Posted: 28 Nov 2017 10:56 AM PST

    How taxes work with LTC and other Cryptos in the US [2017 Tax Year]

    Posted: 28 Nov 2017 11:18 AM PST

    I've seen a lot of misinformation on how Cryptos are taxed and I wanted to clear the air for the LTC community. There's a lot of day traders that do not know this and are in for a rude awakening. This is for Form 8949 in addition to Schedule D on the 1040.

     

    Currently, the SEC treats cryptocurrencies as a property. This means they are subject to capital gains tax. Any time you make a trade, whether it be from crypto to crypto or crypto to FIAT, it is considered a taxable event. Even using crypto to purchase items counts as a taxable event

     

    If you held the crypto less than a year before selling, it is subject to short term capital gain taxes. Short Term capital gains are treated as ordinary income and thus are taxed at your tax bracket The gains can even push you into the next tax bracket if you were close.

     

    For instance, say you held LTC for 9 months, sold it during a dip, and then bought back at a lower price. Not only is this considered a taxable event, you also lose the 9 months progress toward the long term capital gains status.

     

    Long Term capital games are subject to different tax percentages. So if you had a stack sitting in cold storage for longer than a year and decided to sell them, you'd owe almost half as much in taxes.

     

    So how does it work?. First, you need to determine your NET capital gains. Every exchange has a record of your transactions and some allow you to export it to .csv. They have all of your trading information, personal information used to get verified on the exchange, and the IP addresses you made the trades from. Some exchanges, such as Coinbase/Gdax, only report transactions over $20K to the IRS. That doesn't mean if you're making transactions for less, you're exempt from taxes, just means it's unlikely you'll get audited. It's much better to be proactive than get audited and take the Wesley Snipes route.

     

    EXAMPLE:

    For simplicity, let's say you have all short-term capital gains. Start with your initial investment and then go to your first transaction. Let's say you invested $1,000 when LTC was $25 and you received 40 LTC.

     

    Three months down the road, LTC increased to $50 and you decide you want to take some profits. You sell 10 LTC at $50 for $500 total and so the taxable amount is $5010 - $2510 = $250.

     

    Three months later, LTC dips to $10 and you panic sell 10 of your coins. $1010 - $2510 = -$150. This is negative since you sold at a loss.

     

    Finally, three months after that, LTC rises to $100 and you've had enough and sell the rest of your LTC. $10020 - $2520 = $1,500

     

    To get your total short term capital gains taxable amount, you add up the results of all the transactions: $250 -$150+$1,500 = $1,600

     

    Now multiply that times whichever tax bracket that puts you in to get how much taxes you owe. ($1,600 * .25) = $400 taxes owed.

    submitted by /u/cjkeeney
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    Litecoin ATH!!! 93.87!

    Posted: 28 Nov 2017 10:33 AM PST

    Wooo! Litecoin is going up! Let's go!!

    https://ibb.co/jmOmf6

    submitted by /u/MrChronoice
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    To the moon! ;) Little ETSY shop now accepting LTC for custom made mounted bars!

    Posted: 28 Nov 2017 10:45 AM PST

    Article: "...Bitcoin Gold will be the first to fall. Not only was it mined in secret—a fairly suspect thing to do—but its ideological moorings are shakier than those propping up Bitcoin Cash. We could see a lot of that money flow to Bitcoin, but some of it could find safe harbor in LTC."

    Posted: 28 Nov 2017 08:06 AM PST

    It's a bittersweet day but I had no choice other than to cash out.

    Posted: 27 Nov 2017 01:36 PM PST

    As much as I would like to sell all my worldly belongings and put every dime I have into litecoin holdings, I have to be an adult and take care of my family. I had modest amount of coin that I was lucky to double by day trading while averaging my cost per coin down to about $38 and sold in the low 80s. My plan was to hold for five years or so and continue to buy small amounts when I could do so, but my wife had a health emergency this last week and we need to start buying healthcare and unfortunately the only money we have outside of our emergency fund is in litecoin. It's been a fun ride everyone, i'll be looking up at the moon from the earth from now on and kicking myself every single day. Good luck!

    Edit: Thanks for all the kind words and messages guys. I think this is a record for least amount of dick heads on a serious post, and I am honored to be on the receiving end of so many well wishes. I'm gonna take a break from the community for a while while I deal with my life and maybe at the beginning of the summer I'll be able to jump back in, but like so many of you have said, family first.

    submitted by /u/LucasBackwards
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    Great article on LTC from Forbes. No where to go but up!

    Posted: 28 Nov 2017 08:00 AM PST

    Charlie Lee the frontman - Marketing 101

    Posted: 28 Nov 2017 12:46 AM PST

    Charlie Lee comes across as a honest, quirky, easy going intellect. Moreover, unlike Roger Ver he is not a snake oil merchant (aka bullshiter).

    I think it would do no harm in Charlie fronting Litecoin on shows which I, and the next generation regularly view. Such as:

    • Joe Rogan podcast
    • The Rubin Report
    • BBC World News
    • The Keiser Report
    • Box Mining

    Given I am European, so you good folk in The U.S, South America, SE Asia, Saudi, Australia and Asia please list your suggestions?

    submitted by /u/kabelofthe3rd
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    With all this BTC noise, LTC is steadily flying under the radar.

    Posted: 27 Nov 2017 11:38 PM PST

    the returns on any LTC investment for the past month nearly equal BTC (69% to 70%).

    submitted by /u/notyouagain2
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    With bitcoin rising so quickly, I can't figure if it's better to buy 1k worth of BTC or 1k worth of LTC.

    Posted: 28 Nov 2017 06:47 AM PST

    I'm going to assume there's no way to truly know what to do here besides take a chance, am I right by saying that?

    Spending 1k on BTC is only .1 BTC so a raise of another 1k would net me 100.00, or 1k on LTC would be 10.9 LTC so I need a raise of 9 bucks to net the same.

    In my eyes, BTC is just too expensive currently to even warrant catching up at this point.

    Am I right in my ways of thinking?

    submitted by /u/Pyrotik
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    WHAT IS GOIN ON, CLOSE TO $100 !!!?!??????

    Posted: 28 Nov 2017 10:46 AM PST

    Just a casual browser of this site. (A thank you for the enjoyment, with some tips I've collected.)

    Posted: 28 Nov 2017 10:45 AM PST

    I see lots of new people asking the same questions (people probably looking for a quick dollar) and then I guess it's probably all the vets saying HODL. I think if you are new to the game and are genuinely interested in cryptocurrency take your time and do your research. Use google, use reddit, use other sites. I do not hold a lot of LC, but I browse this reddit every so often and it's awesome to see everything going on but that's just my .02. Patience seems to be key along with knowing your limits and what you can and can't afford.

    submitted by /u/Graves_Cigar_
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    Litecoin reclaims #6 spot from Dashpay and passes 5b USD market cap

    Posted: 28 Nov 2017 08:00 AM PST

    Am I reading this right? Someone spent $108 mil on litecoins yesterday?

    Posted: 28 Nov 2017 10:35 AM PST

    @SatoshiLite: Roger, let's debate, me and you!

    Posted: 27 Nov 2017 02:55 PM PST

    What is this!?!

    Posted: 28 Nov 2017 09:46 AM PST

    I swear every time I hold her and check my Coinbase acct, I notice a bump in Litecoin! #cryptobaby

    Posted: 27 Nov 2017 08:45 PM PST

    My First Purchase Ever, Glad to be Part of the Family

    Posted: 27 Nov 2017 10:16 PM PST

    For Christmas gifts Im buying all of my immediate family members each 0.5 litecoins.

    Posted: 28 Nov 2017 11:18 AM PST

    Today I bought my parents and sister each 0.5 litecoins (I paid $93 a coin). On Christmas I'll help them make coinbase accounts. Ill then transfer the litecoins to them. I hope that actually having money in the market will make them more interested in investing

    The litecoins I bought now could be worth a lot more by Christmas. So I've put their gift in a separate account away from my investment. I did this do I wouldn't be tempted to take from the gift.

    I hope that actually having money in the market will make them more interested in investing.

    submitted by /u/Love4BlueMoon
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    My Journey Living Off Cryptocurrency for Four Years

    Posted: 28 Nov 2017 08:11 AM PST
    Read more
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