Bitcoin Could Bounce Back Big-Time in 2018: Analyst

New York Post ^ | February 17, 2018 | Ed Zwirn

[nickcarraway]

Despite its price plunge, some diehard bitcoin aficionados still say the beleaguered cryptocurrency could hit six figures by year’s end.

Tone Vays, a New York-based cryptocurrency analyst and blockchain consultant, has been among those arguing that the wild swings in bitcoin value since its debut in 2009 at less than a penny could mean that an even greater upswing may be possible this year.

“Right now I think that bitcoin should still go down in price, but it will recover,” says Vays. “$100K this year is possible, but that’s very high. I put the current fair value at $25,000.”

[cba123]

I myself think it will break $1000 to the downside.

Just saying.

[for-q-clinton]

I’m investing in monero. It’s private so that it’s not traceable. The dark web uses it. I don’t use it to buy things in just investing in it to make a couple hundred grand. I’m already up over 30% this year.

[for-q-clinton]

I how you’re right I have 6 figures I’m waiting to buy.

[nickcarraway]

It’s private so that it’s not traceable. The dark web uses it. I don’t use it to buy things in just investing in it to make a couple hundred grand. I’m already up over 30% this year.

Isn't that the case for all cryptocurrencies?

[Drago]

Depends. Where did you buy your crypto with your USD? Coinbase? IRS is getting Bitcoin address information from them. Did you re-use your public address? (Don’t). Privacy is possible with Bitcoin by buying from a private party or mining your own and never re-using an address and maybe by “mixing”, but usually it is just easier to use a “privacy coin” like Monero. There are already “blockchain analysis” companies out there whose only mission is transaction/address tracking/analysis (for the IRS, etc).

[montag813]

It already has! Up 60% since the lows a month ago.

[montag813]

I’m investing in monero.

Via what service?

[goldendelicious]

I just don’t understand why the IRS is invoved anyway. You’re basically trading one currency for another. If I trade USD for Yen, I don’t give the IRS a cut. It’s silly.

[Drago]

IRS ruled that crypto is a commodity not a currency, therefore cap gains when coming back into the $ with a gain (or write off a loss). Stay in crypto no govt. tax involvement.

[Drago]

I use Poloniex or Kraken for Monero (you need Bitcoin 1st):

https://coinmarketcap.com/currencies/monero/#markets

[goldendelicious]

so you can make eleventy gabillion dollars with “x” coin, exchange it for monero, IRS not involved, and then switch to new IPS and back into USD and Uncle Sucker is not involved?

[Drago]

You are expected to “self-report” any cap gains you have. Up to you! ;-)

[goldendelicious]

yeah let’s all be a bunch of Dudley Do-rights

[bkopto]

Tone Vays is a dope.

[Vermont Lt]

In before the first tulip comment.

[for-q-clinton]

Kraken. But stored offline in my Nana s wallet

[packrat35]

Bitcoin will hit 25,000 by mid year.

[OliverTwik]

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