Accepting/gambling with crypto donations

I just looked and… MAN! You shoulda sold Bitcoin while it was at $69,000/coin! Why? Because you could have then sat on the money (or whatever was left after taxes) and then bought back in now (at around $35,000/BTC, and gotten even MORE Bitcoin, for the NEXT peak! If you know anything about Bitcoin (or have done the research I have), you’d realize that the taxes are not going to ruin you! What WILL ruin you, is never selling at the right time and picking up more on the way down! I currently have 7.8% of 1 BTC (split 50/50 between Coinbase and PayPal) and 25% of 1 ETH. And I’m not budging! I’m just buying up a little more every time it drops lower! Like tonight… just bought 1/1000 (0.001 BTC) for $35+fees… on both Coinbase and PayPal. Once you understand the pattern and cycles, you know how to play the game. You don’t play like a day-trader (buy low, sell high; short-term)… you play the loooooong game. 4 year cycles long. You aim for the BIG win! Hold onto those BTC right now (you missed the opportunity to sell out at the top) and take all the BTC people will donate… and then wait to see where Bitcoin will be a few years from now… put your finger on the trigger at $69,000/BTC and then decide when it’s risen high enough to jump out. $75K? $80K? Some people think it will go to $100K… if it repeats the 3x multiple of the previous peak (2021), it could go as high as about $207K!!! But don’t count on it… just decide what feels like a comfortable “beyond the last peak” point and then jump! Shampoo, Rinse, Repeat… :grinning:

How is anyone supposed to predict exactly when the peak is going to be? It’s impossible, and for every person who randomly guesses it right there are one hundred who guess wrong. I don’t know about anyone else, but I would really rather Haiku doesn’t gamble with donations.

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No, it’s not a gamble, when you know the pattern. I’ve mapped it out. And knowing that the peak usually hits around a year AFTER the halving, you only need to watch BTC’s insane skyrocket to know WHEN to put your finger on the trigger. 2021 was the peak. When was the halving? Count 4 years from either the halving or the peak. Same diff. But the price skyrocket is the true barometer. When you see it going to 45K, 50K, 55K, 60K, and beyond, in short order… you’ll know you’re in that season. If the last halving was in 2020, then the next one will be in 2024… that is when you start really getting ready for the next peak. We had TWO peaks this time, which throws off the predictability of the pattern, peak-wise, but the rule is, each peak ALWAYS exceeds the previous one. So now we’re looking for $69K as the peak to follow. I’ll show you my “homework” tomorrow…

Summary of the previous:

  • $2,700 in Bitcoin and $640 in Ethereum
  • so a total of $3300 “invested”
  • crypto on coinbase and paypal :rofl:
  • on paypal it is not ‘real’ because no control over it
  • easily predict the future with existing data from the past
  • partly ok, but foresee that 69k was the top?
    → multimillionaire, if …

I hear organic pet food is going to be big, maybe Haiku should invest there.

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Rumor on Gab.com:

Here’s my “homework”:

As to when the Halvings occured:

And the peaks were the following year… I know, because I was there, when they happened. I first found out about Bitcoin in 2013, when the first peak hit (note, the 1st halving was the year before (2012)). I was there, riding the Skyrocket in 2017 (and made $10,000USD profit; the halving was the year before (2016)), but I did not yet see nor realize the pattern… so I missed out on 2021’s peak (the halving was in 2020)), but have since started gathering on the decline (the period between halvings/peaks). The halvings are the warning that the peak is coming soon… the “pattern” is that the peak has always been the year AFTER the halving, but since we’ve now had a double-peak, that may not be entirely true anymore, just as a single peak may not be true anymore… but look at the track record… From $1,200 to $20,000 to $69,000… do the math… each peak has ALWAYS met/exceeded the previous one. It’s right there in black and white. We KNOW Bitcoin can reach $69,000, because it already HAS! So, even if you assume a worst case scenario… the next peak CANNOT be any less than $69,000… barring some cataclysmic event that ruins Bitcoin’s value or shuts down the Internet… neither of which I’m imagining as happening. But the future cannot be known… we can only follow patterns. The nice thing is… you already HAVE the Bitcoins in your coffers… what they’re worth is only a matter of waiting til 2024 (4th halving)-2025 (next peak). :grinning:

Prices of stocks, bonds or crypto don’t follow patterns. Prices don’t have memories. Technical analysis seems like an exact science, but investing is more psychology than drawing lines in pretty graphs.
But good luck to all hodlers. If you think you have the crystal ball and the rest just doesn’t get it… you’re probably the one getting screwed.

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Right… and that’s how I got $10,000USD profit in 2017… because it was just a fluke. Just like nothing happened in 2013 and 2021. Nope. It was all just sheer chance. Right. THREE times in a row? 4 years apart EACH time? Significant increases EACH time? Whose the one gonna be belly-aching “Aw, I shoulda…”, like I was in 2021! I’m not making the same mistake twice. Just like the 330K Doge I had in 2013 (check the price it was at)… had I simply held onto it for 8 years… Doge reached $0.75 each! I’m kicking myself in the head over THAT one, too.

Good for you. Maybe Haiku Inc should hire you as their CFO and financial advisor then, since clearly you can beat the system and you’re the chosen one who knows what will happen in the future.

I’m not a seer. But, I do know a pattern when I see one. And I know where I’ve been and what I’ve lost and opportunities I’ve missed out on. Haiku, Inc. is in a unique position of having over 3 BTC. I had something close to that in 2017. Had I seen/known what I know now, I would have done what I’m doing now, between 2018-2021, and benefitted greatly.

Just as a point of proof… here is my full Coinbase timeline… now, when do you suppose that MASSIVE peak was? Oh, that’s right… 2017! The reason I didn’t come away with MORE than $10,000 profit, was because I didn’t realize the peak doesn’t last… and I waited too long after the peak. Thankfully I didn’t wait until I lost all my profit. I just wish I knew what I know now… I’d have taken that $10,000 and reinvested it in the “valley” and built up more BTC for 2021.

1, 2, 4, 8, 16, X

Personally I just find the ecological damage (carbon footprint) of bitcoin and most other crypto too great to consider it as an investment.

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The only thing less reliable than the price of crypto is a government bent on printing its currency into oblivion. The dollar is becoming worthless here in the USA. Switching to anything else is advisable for the present. The same goes for central-bank digital currencies. One corrupt official can nix your whole bank account or portfolio.

Coinbase basically has the Haiku, Inc. Bitcoin trapped. Someone (not me, maybe Alex) created this Coinbase account as basically a personal account some time ago (probably before Coinbase had “institutional” accounts.)

People donated over the years, and then Coinbase added the requirement to “verify” the account details to be able to do anything with the Bitcoin. No one in Haiku, Inc wants to associate our personal details with this account for two reasons:

  1. This isn’t really our Bitcoin, it belongs to Haiku, Inc.
  2. We don’t want personal tax consequences of trying to transform this into dollars.

So I started the process to create an institutional account. This is apparently an insane bureaucratic nightmare as I got stuck at some point and could not figure how to get unstuck. They would send emails, and I would respond and do what they asked but then nothing would happen. I basically gave up and asked if anyone else in Haiku, Inc wanted to try to resolve this, but no one has.

I will try to get it going again but it is pretty frustrating.

I am not trying to play games with getting the best price for Bitcoin and I personally do not possess any Bitcoin myself as I consider it like a casino. I understand why it exists though, but I think it has become a bit unhinged from reality. Nonetheless I do have to deal with the Haiku, Inc. holdings. If we can sort out the issue where I can convert BTC to USD without personal tax consequences, I will convert some portion to help fund waddlesplash for the next year or whatever. I think continuing to hold some BTC would be okay but I would like to get some as USD.

If anyone reading this has any contacts in Coinbase who could help please private message me.

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Ok, so that explains why nothing has happened with Haiku, Inc.'s Bitcoin account. However, you’re going to have tax consequences, no matter what you do. Uncle Sam now requires that if you’ve dealt with Crypto (of any kind, period), you need to report it. Thankfully, you don’t get taxed until you sell or exchange it.

Of course, Haiku, Inc. being a non-profit, I sense that’s probably the aspect complicating things. I found this, and hopefully it helps:

But if this is purely a Coinbase issue and really has nothing to do with cryptocurrency and being a non-profit, then I imagine is just a matter of time to “step through the problem” (step by step), until you reach the solution. And props to the one with that kinda “bulldog fortitude” (unstoppable persistance). :grinning:

Maybe another account for Haiku Inc could be created in another crypto-bank, and then you associate your details to the Conbase account just to transfer the bitcoins to that other account. I believe in that case, while it is not yet being converted to USD, taxes will not be charged ?

Someone (not me, maybe Alex) created this Coinbase account as basically a personal account some time ago

Wasn’t me. Pretty sure mmadia set it up originally :slight_smile:

(probably before Coinbase had “institutional” accounts.)

Correct. When coinbase was setup, you didn’t have to provide any tax information, and everything was on the same level (no difference between personal and business)

However, you’re going to have tax consequences, no matter what you do.

You have to pay tax when you send / transfer or convert an asset. The irs does ask if you own any crypto assets, but you don’t have to report more than that until you “do something” with them in the US. (aka capital gains)

Ryan has been working with coinbase to try and convert our account to a business account, however those talks fell through because coinbase support is pretty opaque.

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I just double-checked where this was left off. Pretty much we provided information to Coinbase back in 2021, and they never responded :expressionless:. We have emailed them twice (once late 2021, and again today) without any responses. :expressionless: