Bitcoin price slump continues. Now trading at $37,550.

INO.COM ^ | May 19, 2021

[Presbyterian Reporter]

Bitcoin price slump continues. Now trading at $37,550.

For those who bought Bitcoin at $63,000 a month ago, they are likely having some buyer's remorse.

[dynoman]

compare them to equities

[Bones75]

No way should your “SHTF” money be in crypto anyway. That’s not what it’s for. It’s something to experiment with with and maybe make a little money. At least that’s the way I see it.

[C210N]

JUST IN - U.S. Treasury calls for transfers of cryptocurrencies like #Bitcoin over $10,000 to be reported to IRS as means to limit illegal activity, including tax evasion.

[C210N]

The Treasury has just announced a new set of rules about reporting crypto transfers because, they claim...

“Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion.”

If you think the timing is coincidental with yesterday's plunge, we have a bridge in Brooklyn to sell you.

“As with cash transactions, businesses that receive cryptoassets with a fair-market value of more than $10,000 would also be reported on,” the Treasury Department said in a report on tax-enforcement proposals released Thursday.

The Treasury said that comprehensive reporting is necessary “to minimize the incentives and opportunity to shift income out of the new information reporting regime.” It noted that cryptocurrency is a small share of current business transactions.

[Joe Brower]

"No way should your “SHTF” money be in crypto anyway. That’s not what it’s for."

That's how I am playing my BTC holdings. It's been called 'gold 2.0' and that's how I'm treating it.

Buy it, move it to my cold wallet, put it in the safe and forget about it.

[GunRunner]

It you had bought $10,000 worth of BTC exactly 5 years ago it would be worth over $800,000 today, even after the huge contraction.

It will likely continue to grow 200% every year, as it has every year since inception.