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Top is here: Wife bought Dogecoin Saturday.

godawgst
godawgst Member, Swaye's Wigwam Posts: 2,554 Swaye's Wigwam
edited May 2022 in Tug Tavern
$500 thru Robinhood.

Let's just say her stock experience is limited (as in essentially none), but saw it on a facebook link and had a friend buy in.

So with that, what can people tell me about it? Top 5 crypto, top 10, etc. Saw it was .007 back in January and high as .45 last month or so.

Also see it trades 24/7.

I can see why people can trade and make good money on it. As the old saying goes you don't have to outrun the bear, just be able to outrun one person also being chased by the bear. I understand versus the pros I am the mark, but time/experience would allow me to be profitable playing those penny/2 changes through out the day.

For those who have bought/sell it, do you get a statement at the end of the month/year showing you the profit/losses on your buys and sells, and is that also reported to the IRS?



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Comments

  • dirtysouwfdawg
    dirtysouwfdawg Member, Swaye's Wigwam Posts: 14,154 Swaye's Wigwam
    I got a statement from Robinhood but I don’t recall looking at it to see about the crypto.

    When you click on the specific stock or crypto scroll towards the bottom and you’ll see your equity, growth $’s, and growth %.

    Here, yea, I’m pour.


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  • godawgst
    godawgst Member, Swaye's Wigwam Posts: 2,554 Swaye's Wigwam
    I saw all that at the bottom of robinhood when she made the buy.

    My question was if you sell it at a gain or loss at the end of year is it treated like a stock where the irs gets a copy and you are to report them just like you do traditional securities?
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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    godawgst said:

    $500 thru Robinhood.

    Let's just say her stock experience is limited (as in essentially none), but saw it on a facebook link and had a friend buy in.

    So with that, what can people tell me about it? Top 5 crypto, top 10, etc. Saw it was .007 back in January and high as .45 last month or so.

    Also see it trades 24/7.

    I can see why people can trade and make good money on it. As the old saying goes you don't have to outrun the bear, just be able to outrun one person also being chased by the bear. I understand versus the pros I am the mark, but time/experience would allow me to be profitable playing those penny/2 changes through out the day.

    For those who have bought/sell it, do you get a statement at the end of the month/year showing you the profit/losses on your buys and sells, and is that also reported to the IRS?



    You'll get two separate tax statements from RH - one for non-crypto and one for crypto
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  • creepycoug
    creepycoug Member Posts: 24,082
    edited April 2021
    Baseman said:


    Will hit $19,682 by labor day.

    We need to start talking about a Finance Club member pre-IPO pricing discount, what with the fact that it was chinspired in the Club, and all the free marketing and whatnot.

    I like to say "whatnot"; IWILTD.

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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    creepycoug said:

    Baseman said:


    Will hit $19,682 by labor day.

    We need to start talking about a Finance Club member pre-IPO ICO pricing discount, what with the fact that it was chinspired in the Club, and all the free marketing and whatnot.

    I like to say "whatnot"; IWILTD.

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  • EsophagealFeces
    EsophagealFeces Member Posts: 13,172
    I bought me some doogcoin yesterday. Couldn’t resist. I really wish I’d known about it a month ago. I need access to Nancy Pelosi’s investment tip guy.
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  • creepycoug
    creepycoug Member Posts: 24,082
    EsophagealFeces said:

    I bought me some doogcoin yesterday. Couldn’t resist. I really wish I’d known about it a month ago. I need access to Nancy Pelosi’s investment tip guy.

    Just the tip.

    Lolz.
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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    $DOGE update

    1 hr chart looks pretty bullish. For those technical folks out there, good volume levels and C&H pattern for a push up


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  • backthepack
    backthepack Member Posts: 19,937
    EsophagealFeces said:

    I bought me some doogcoin yesterday. Couldn’t resist. I really wish I’d known about it a month ago. I need access to Nancy Pelosi’s investment tip guy.

    Old BTP told you fools about this months ago
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