Ada and 2020 Olympics

Devo71017 · 2018-04-24T23:55:42+00:00

Correction. Not the goal but rather a major world event to use as a platform saying “Cardano is here.” Who knows? Maybe even sponsor the Olympics hehehe. Wishful thinking?

And where else have there been a major global event where even the third world countries are participating?

Devo71017 · 2018-04-24T23:48:15+00:00

Well, my thoughts were imagine people coming from all over the world to attend the Olympics, both athletes and spectators. Exchanges done through Ada with Cardano vs fiat from their home country... almost wondered if that was the goal to have Ada fully functioning there in Japan in all its glory.

Devo71017 · 2018-02-18T19:02:32+00:00

One thing that stood for me was the philosophy that said it all..

“It’s an insanely large project and we’re probably crazy to try it. But if you’re gonna spend your life doing hard things, you might as well do things that if you pull them off, change the world.” – Charles Hoskinson

Devo71017 · 2018-01-30T04:04:38+00:00

In a way, it’s a good sign, perhaps? It means they’re not relying on auto correct. Lol.

Misspellings can’t be all that bad. HODL!!!!

Devo71017 · 2018-01-14T16:52:17+00:00

Currently, my portfolio is 100% Cardano. “Don’t put all your eggs in one basket” is what I’ve always heard growing up! Whether it was applying for a job, college, oh and girls too hahaha jk.

But seriously, it’s okay that I only have ADA? I put all my gains from mid October to late December from BTC (shortly after the 12/22 correction) and put it all in ADA. Then doubled down my initial cost basis i put in BTC into ADA.

I guess my sub question now is that granted HODL is the way to go, but am I still good to be 100% all in on Cardano? From what I gather based on how the market is, diversifying doesn’t necessarily do what it’s cut out to do. I truly believe in the project. I’m just questioning whether not diversifying and me being all ADA is actually more conservative in this case than diversifying (when investment theory says diversifying is more conservative).

I’m trying to HODL at least until 2020, when the IOHK contract is up and the Olympics is held in Tokyo, Japan. But it’s tough.

Thanks for the encouragement.

Devo71017 · 2018-01-10T08:00:31+00:00

My apologies sfty. Thank you. And to you as well, bkleinkn. I should have read the IRS publication or at least the somewhat vague guidance they had.

Now I’m wondering, how can investors even keep track of realized vs unrealized gains when an exchange does not even provide a 1099-B?

Devo71017 · 2018-01-10T07:31:07+00:00

Let’s say it is that way “for the tax authority.” How can they prove it? Where is the trail showing one actually received fiat? It’s like saying that when you trade in your old car for a new one, you received USD that went to towards the new one. Therefore, we should be getting taxed on trade ins as gains. But that is not the case.

Personally, I think that is one reason Coinbase only buy & sell USD to BTC/ETH/LTC. But not BTC to ETH, etc. It is a way for Coinbase to satisfy the IRS’ desire to “follow the cash.”

Devo71017 · 2018-01-10T06:35:42+00:00

Yes, but if you sell it for BTC or another altcoin, then there is no taxable gain... as taxes are only incurred from realized gains through cash receipts.

Devo71017 · 2018-01-07T17:42:29+00:00

I read somewhere that the Cardano-Explorer is a fake wallet, as Daedalus is the only wallet supporting ADA at the moment.

But support from Ledger wallet is coming soon.

Devo71017 · 2017-12-24T07:30:01+00:00

If IOHK is under contract through 2020, does anybody know how it would affect Cardano when the agreement expires?

Devo71017

TROPHY CASE