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Thread: looking at starting a company. But would I lose all benefits and have to pay back..

  1. #11
    If it's crypto currency ICO rather than IPOs as you initially described, I don't think you will need to worry about losing medicare or medicaid. That's much more akin to gambling than investing. There is a huge bubble, and block chains have no inherent value and are at a huge peak. Any investment made in them will likely vanish into thin air within a year or so when the bubble bursts, then you will have negative profits for 2018 and therefore no income you would need to report to medicaid or SS.

    Unless you're getting a cut from bringing in the suckers and you're not investing your money (or the money of anyone whom you actually like or will have to see in the future or knows where you live). If you find people wanting to burn their money up in the latest scam, I see nothing wrong with skimming a little off the top, they're just throwing it away in any case. Just definitely don't invest your profits in those ICOs... people are going to lose a whole lot of money.

  2. #12
    Oh, and I definitely agree these ICOs are ponzi schemes, with the exception that people know they are ponzi schemes going into it. There is no inherent value in their product, the value of the coin you buy today is based entirely on more people wanting to pay more for the coins in the future. Therefore any expected increase in value of the coin is based purely on there being more people at the next level when you are ready to sell... classic pyramid setup. With the exception of bitcoin, no cryptocurrency is widely used, and if you take a look at the bitcoin price today, you'd kind of be a fool to buy in at what sure looks like the beginning of a slump.

  3. #13
    Quote Originally Posted by funklab View Post
    Oh, and I definitely agree these ICOs are ponzi schemes, with the exception that people know they are ponzi schemes going into it. There is no inherent value in their product, the value of the coin you buy today is based entirely on more people wanting to pay more for the coins in the future. Therefore any expected increase in value of the coin is based purely on there being more people at the next level when you are ready to sell... classic pyramid setup. With the exception of bitcoin, no cryptocurrency is widely used, and if you take a look at the bitcoin price today, you'd kind of be a fool to buy in at what sure looks like the beginning of a slump.
    Okay, well everyone is entitled to their own opinion. Even though I don't agree. I'm also a seasoned crypto investor. So no I'm not buying right now, with an uptrend. It will be interesting to revisit this post in a year or so and see what shakes out.. I nor anyone I know is into scamming or Ponzi schemes. We invest in real projects
    Last edited by MagikLair; 01-02-2018 at 09:58 PM.
    "Life's a Party and Your Not Invited"

  4. #14
    Senior Member Andy's Avatar
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    Quote Originally Posted by funklab View Post
    Unless you're getting a cut from bringing in the suckers and you're not investing your money (or the money of anyone whom you actually like or will have to see in the future or knows where you live).
    LOL. You have to admit, Bitcoin is in the headlines, so why not make a Bobscoin, Barfcoin, or Beaniebabycoin? It's gotta go to a $$Billion$$ just like the original, right?

  5. #15
    Senior Member Andy's Avatar
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    Did some more looking...you gotta get into this!



    36000% gains! Forget penny stocks, crypto is where its at!

  6. #16
    Quote Originally Posted by Andy View Post
    Did some more looking...you gotta get into this!



    36000% gains! Forget penny stocks, crypto is where its at!
    These remind me of dotcom.
    This one was an ad on Dennis Rodman's T-shirt the other day on late night TV: https://www.worldcoinindex.com/coin/potcoin
    I have had periodic paralysis all my life. I lost my ability to walk in 2011 beginning with a spinal block, which was used for a hip fracture caused by periodic paralysis.

  7. #17
    Quote Originally Posted by Andy View Post
    Did some more looking...you gotta get into this!



    36000% gains! Forget penny stocks, crypto is where its at!
    Your chart has convinced me, especially the purple bar graph.

    I will invest all my savings in this tonight, and by the end of 2018 I expect to have 3 or 4 million dollars. Sweet.

  8. #18
    Senior Member Andy's Avatar
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    Savings? Why bother with that? I've got an idea and need suggestions on what gyrations are needed to effect it...

    I have roughly 50K available on a credit card, and don't foresee needing to finance anything ever again, so if my credit rating goes in the toilet due to losses and my refusal to pay that card...oh well. How can I get 50K worth of some sort of crypto charged on the card? The idea of conservatively taking a mid-range profit in a year of say 9000% on that 50K, tallying $4.5 Million sure does sound interesting. Also, is there some sort of tracking on credit card purchases of crypto (it is supposed to be anonymous, right)? It would be nice to say someone just stole my credit card number and Chase would simply remove the charges for the purchase.

    Lemme know!

  9. #19
    Close the thread.. I'll revisit thread in the year or so.
    Last edited by MagikLair; 01-05-2018 at 05:57 PM.
    "Life's a Party and Your Not Invited"

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