Is anyone else starting to become a bit excited?

Chuppa Siopa

Lex Luthor wrote: »

Sweet $TFUEL, I love you

Any love out there for this little beauty?

I have a small amount of this... up about 250% on my original investment, very happy with that but wont be selling yet

BizWiz66

Question: if a person keeps all his BTC/Crypto on a hard wallet and finds a way to spend them (ie. online shopping) directly from his wallet, how would the tax man know that this person disposed of the assets and had to pay CGT? Surely he cannot access his hardware wallet?

jmlad2020

Happy I bought a couple ETH at $240 last year.

5k is easily achievable , I dont really buy the 20k figure this cycle floating around unless it gets widespread adoption but I'll take it.

BrandonBay86

BizWiz66 wrote: »

Question: if a person keeps all his BTC/Crypto on a hard wallet and finds a way to spend them (ie. online shopping) directly from his wallet, how would the tax man know that this person disposed of the assets and had to pay CGT? Surely he cannot access his hardware wallet?

All based on honesty.

BizWiz66

BrandonBay86 wrote: »

All based on honesty.

Don't get me wrong, I have always paid and will always pay my taxes.
My problem is that 33% CG to pay on cryptos, where a lot of the medium/long term investments are not made purely on company fundamentals like when people buy stocks, is a total scam.

Even more frustrating if we consider that cryptos have been ridiculed for years by those asking us to pay so much taxes on it.

In fairness a 20% CGT would be a fair compromise, but who am I to say that anyway.

bfa1509

BizWiz66 wrote: »

Don't get me wrong, I have always paid and will always pay my taxes.
My problem is that 33% CG to pay on cryptos, where a lot of the medium/long term investments are not made purely on company fundamentals like when people buy stocks, is a total scam.

Even more frustrating if we consider that cryptos have been ridiculed for years by those asking us to pay so much taxes on it.

In fairness a 20% CGT would be a fair compromise, but who am I to say that anyway.

They need to look at the allowance before anything else. We currently get 0.028 of a bitcoin or 0.79 of an ether worth in tax free allowance... per year.

BrandonBay86

BizWiz66 wrote: »

Don't get me wrong, I have always paid and will always pay my taxes.
My problem is that 33% CG to pay on cryptos, where a lot of the medium/long term investments are not made purely on company fundamentals like when people buy stocks, is a total scam.

Even more frustrating if we consider that cryptos have been ridiculed for years by those asking us to pay so much taxes on it.

In fairness a 20% CGT would be a fair compromise, but who am I to say that anyway.

Agree 100%. Hence why I’m potentially joining others in Portugal.

BrandonBay86

Has anyone checked on Antgal lately

cnocbui

BrandonBay86 wrote: »

Has anyone checked on Antgal lately

Was over on the worried thread yesterday, worrying. We're doomed.

hblock21

Finally managed to get a Kraken account. Only took them 1 week to get back.

So now I can deposit funds and buy. Only thing is I know Jack all.

To avoid being hit by too many fees etc. What is the minimum deposit I should be looking at?

I dont want to deposit 1k or 2k and discover after 1 week that I should have just put in 5k.

Any tips would be much appreciated. Thank you.

Unearthly

Bitcoin a monster today. Broke 56k now

BrandonBay86

cnocbui wrote: »

Was over on the worried thread yesterday, worrying. We're doomed.

At least they’re in the right place.




Anyway, $56,000.

Irish_rat

hblock21 wrote: »

I dont want to deposit 1k or 2k and discover after 1 week that I should have just put in 5k.

Any tips would be much appreciated. Thank you.

Don't put all your money in one go. Dollar cost average a little bit in every week. At least if feels like you're not putting much in.

I've been trickling bits and bobs in since last Sept and now up to around 5k. Will keep using this strategy.

I would advise to keep a tidy amount in fiat, wait for the massive dip after the bull run and buy up those bargains. Do your research in the meantime

cnocbui

Whenever he says 'peace', mentally replace with 'bit'. It works rather well, I think.

Come ride on the bit train...

Dubit11

Unearthly wrote: »

Bitcoin a monster today. Broke 56k now

Up 7.5% on the day almost. 100k in no time at this rate

hblock21

Irish_rat wrote: »

Don't put all your money in one go. Dollar cost average a little bit in every week. At least if feels like you're not putting much in.

I've been trickling bits and bobs in since last Sept and now up to around 5k. Will keep using this strategy.

I would advise to keep a tidy amount in fiat, wait for the massive dip after the bull run and buy up those bargains. Do your research in the meantime

Buying on the dip. Yep sure. I've no problem keeping it on deposit for weeks or months.

What you mean by dollar cost average? I'd be depositing euro. Are you saying it's converted to $ ?

ronivek

hblock21 wrote: »

Finally managed to get a Kraken account. Only took them 1 week to get back.

So now I can deposit funds and buy. Only thing is I know Jack all.

To avoid being hit by too many fees etc. What is the minimum deposit I should be looking at?

I dont want to deposit 1k or 2k and discover after 1 week that I should have just put in 5k.

Any tips would be much appreciated. Thank you.

Are your funds just sitting in your bank account earning no interest? In which case you can stake your EUR on Kraken for 1.5% APY until you're ready to actually buy crypto. Usual caveats about being careful not to invest money you can't afford to lose etc.

As for the mechanics of actually buying cryptocurrencies always try to buy using limit-only orders to minimise your losses due to fees. See https://support.kraken.com/hc/en-us/articles/360000526126-What-are-Maker-and-Taker-fees-

ShaneU

Trying to verified with a few apps since this morning. They're all taking forever. Missed out on a great day

Unearthly

ShaneU wrote: »

Trying to verified with a few apps since this morning. They're all taking forever. Missed out on a great day

You will be waiting a week or 2.

Binance allowed me to trade a few grand with my proof of address still waiting to be verified

Irish_rat

hblock21 wrote: »

Buying on the dip. Yep sure. I've no problem keeping it on deposit for weeks or months.

What you mean by dollar cost average? I'd be depositing euro. Are you saying it's converted to $ ?

I just mean buying about 50-100 quids worth a week. It's the safest strategy and you build up confidence too in the space.

Also look at earning free crypto like the theta edge node, brave browser, Coinbase earn, etc. Small amounts now but knows in the future.

Agree with other poster, stake some USDT in kraken if you want some interest before buying some tokens. The worst thing is to buy heavily and then a massive dip will put you off.

makeorbrake

hblock21 wrote: »

What you mean by dollar cost average? I'd be depositing euro. Are you saying it's converted to $ ?

'dollar cost average' is the phrase but for your purposes swap dollar out for euro. Basically, the approach is to buy a little every week/month. That way, you're not trying to time the market. It's the steadier way of doing things - as trying to time it is just a gamble. DCA during the peaks and the troughs and you end up with an average buying price.


______


Well, this all started off in a sober way some weeks back. However, now there's no doubt that we're in full on bull mode with the arrival of new people, the crypto sentiment index fixed on 'extreme greed', etc. Exchanges have become so much more professional from last time round - and yet, they're still under pressure right now.
I'm not getting off the train but it definitely makes me feel uneasy!

Question: if a person keeps all his BTC/Crypto on a hard wallet and finds a way to spend them (ie. online shopping) directly from his wallet, how would the tax man know that this person disposed of the assets and had to pay CGT? Surely he cannot access his hardware wallet?

Maybe the time has come to NOT exit the crypto ecosystem at all. There's now a yield curve emerging. If some is needed in monopoly money, find someone to do a peer to peer trade with.

BizWiz66

Is anyone exchanging cryptos via the "Swap" option within Ledger Nano X? I find it handy not having to send cryptos to the exchange, complete the transaction and resend them back to the wallet.
Also I was wondering if anyone has EOS and tried the FairyWallet to go along with Ledger Live? If yes, would you know if it is possible to "swap" EOS within the wallet like the other cryptos, or is the fact that FairyWallet is separate preventing to do that? Asking as it is a bit of an hassle to setup FairyWallet and if on top of that I need to send EOS back to the exchange for every transaction it would be a total turn off.

Raoul

KilOit wrote: »

Fml I had 100 bnb I sold for $5 a pop way back

Yeah. Lots of people like that. Another one here.

grindle

Raoul wrote: »

Yeah. Lots of people like that. Another one here.

Sold a lot at $20 thinking I was smart as fcuk. Profited so whatever, but Jesus that amount of money now would be...spent on more sh!tcoins.

bosco12345

Do people see ADA cardano doing well for 2021? Any insights be appreciated as I'm on the fence with this one

BrandonBay86

Escape velocity achieved for Bitcoin.

No turning back.

Unearthly

bosco12345 wrote: »

Do people see ADA cardano doing well for 2021? Any insights be appreciated as I'm on the fence with this one

In my opinion it will do well but don't expect large gains in price relative to other coins because the market cap is very high due to the large supply of Ada coins. The project itself looks very good though and one of the best out there

Lex Luthor

bosco12345 wrote: »

Do people see ADA cardano doing well for 2021? Any insights be appreciated as I'm on the fence with this one

YES!!!

But the next bull run will probably be where it really shines

Mellor

BrandonBay86 wrote: »

You could sell any open position you had, they didn’t stop that.

Open positions are options not stock trades.
Exercising options is not the same as selling stocks. I've said this a few times.
You are mixing up two fundamental different things.

bfa1509 wrote: »

My point was that these very comments are the reason people lost money, they served nothing more than to put fear in the market. I would assume most novice investors would be in long positions where it's unlikely they would lose everything.

Have you not familiar with WSB? The place is insanely reckless. Leveraged positions are very common.

Irish_rat wrote: »

Don't put all your money in one go. Dollar cost average a little bit in every week. At least if feels like you're not putting much in.

I've been trickling bits and bobs in since last Sept and now up to around 5k. Will keep using this strategy.

I would advise to keep a tidy amount in fiat, wait for the massive dip after the bull run and buy up those bargains. Do your research in the meantime

Dollar cost averaging is a good way to level out a volatile market. But it's only a really benefit when the price is somewhat level.
Given the slope of the BTC price graph, dollar cost averaging has been less profitable.

Trickling in spare cash when you have it isn't a bad thing. But its not really dollar cost averaging.

Bob24

Mellor wrote: »

Open positions are options not stock trades.
Exercising options is not the same as selling stocks. I've said this a few times.
You are mixing up two fundamental different things.

Off-topic for this thread, but I think this needs to be clarified.

In finance-talk, an open position can refer to any trade you have initiated (basically anything in your portfolio which isn’t cash: this can be either long or short and any type of product such as stocks, options, future contracts, bonds, etc ...). This is in no way restricted to options and can also refer to simply holding shares of a company.

The problem here is: Robinhood was allowing customers to close positions on GME (i.e. sell GME shares they owned), but not to open new positions (i.e. buy new GME shares).

There were also restriction on options (and increases in margin requirements), but it is a separate matter.

Definite of “open position”: https://www.investopedia.com/terms/o/open-position.asp

Confirmation that Robinhood prevented users from buying GME shares (but not from selling them): [url] https://markets.businessinsider.com/news/stocks/robinhood-removes-gamestop-amc-reddit-wallstreetbets-fueled-stock-rally-gme-2021-1-1030015292[/url]