Dumb fuck here, hear me out:
>Bitcoin goes for example from $20000 to $20100 all the time
>Buy bitcoin when its $20000 and sell it for $20100
>Make $100 profit
>Do this everyday to earn $3k a month (enough salary to live off)
Whats the catch? Obviously it cant be this simple right? Is it the fees or taxes?
Sounds foolproof OP, try it for a month and post results
I know it obviously cant be this simple otherwise everyone would be doing it
but its probably the fees or taxes then right? It only works when it jumps like a 1000 bucks instead of a 100 bucks?
short term taxes
What does this mean
better start a shrimp farm OP
It will until it doesn't, if you don't understand risk and stop loses you'll eventually get caught.
caught by whom? isnt this legal?
1) open literally any thread and read "I JUST pressed buy and the price went down"
2) cover yourself in honey and run into the nearest neigborhood park.
3) do not profit.
lol
you are retarded.
you make no money for that risk and exposure.
lol dont scream too much when your goyhole gets inspected by irs
why not
not american crypto is legal in my country
crypto is taxed everywhere tard
yeah but only the total ammount at end of year
not every single trade ever
Every time you trade the tax jews take off 40%, you'd gain 100 sure but lose 8000 to taxes on every sell
never heard of this, pretty sure its an american thing
i only need to do 1x per year
>american education
Pretty sure the fees in and of themselves would trash that meager 100 buck profit but eh, that's what I get for posting in a bait thread.
>bait thread
>state its retarded at the beginning
i think u are the actual retard here
but yeah the fees is the problem then, what I figured
He means youre fucked the moment it more notably drops and doesnt raise much, the bit of win you might make there wouldnt be worth the stress from basically nonstop checking and driving yourself mad from thinking "If i sold/bought a minute earlier or later it could been more!"
I know jackshit about crypto and even i can tell that shits some unhealthy level of micromanagement.
you could also borrow more money and do this to earn more than $100 each trade.
yeah you would have obviously place stop losses quickly
ok it was dumb idea
thanks thread closed
caught by fucking giant red diddle to 8k or mega green doobabab lightsaber to 100k. you swing swing swing till you get the rope dummy
>price goes in the other direction
>you panic sell at a big loss and get rekt
>rinse and repeat
AAAAAAND... IT'S GONE!
Might aswell go play slot machines at that point, those atleast flash pretty lights while eating your money.