Are we excited yet?

sparkletooth

AtticusFinch86 wrote: »

They won't accept that excuse. Otherwise all taxpayers would claim ignorance when Revenue came knocking. As far as they're concerned, the onus is on you to ensure you are tax compliant.

Boating accident in Koh Phangan it is so.

Joking

sparkletooth

sparkletooth wrote: »

Boating accident in Koh Phangan it is so.

Joking

By the way, I haven't been on boards.ie in years.

Any good Irish crypto servers on discord or Telegram chats?

Unearthly

Rob2D wrote: »

I don't know about that. All those exchanges ask for your passport for a reason.

.

Yeah the passport is a requirement organisation's need to do that are potentially exposed to money laundering/terrorist financing/predicate offences. They need to know their customers (KYC) so if something is suspicious, they can contact the relevant authorities, or if an authority contacts them about you, they will hand over all information about you

HGVRHKYY

Unearthly wrote: »

Yeah the passport is a requirement organisation's need to do that are potentially exposed to money laundering/terrorist financing/predicate offences. They need to know their customers (KYC) so if something is suspicious, they can contact the relevant authorities, or if an authority contacts them about you, they will hand over all information about you

Example here: https://decrypt.co/70420/man-used-coinbase-hitman-bitcoin-fbi?fbclid=IwAR32P1PxDMtPKbxij2KRxQj2EyrYIMT1Ll7DZnz8W2CSjICCxxHyO_oDrDM

harmless

The exchange won't be reporting you to revenue as said the KYC to them is more for monitoring possible money laundering.

Your bank may flag it for revenue though if you're a residence is in Ireland.
When crypto is written in to legislation then claiming ignorance will not work.
They still have no way to calculate costs vs gains.

I'm not advocating not filing a return, you are required to do this even if you are under the allowance threshold.

Minime2.5

Im new to crypto. Plan to keep topping up by 1 to 2k every month. Can some one tell me how much capital gains tax am I liable to pay ?

Jackben75

Minime2.5 wrote: »

Im new to crypto. Plan to keep topping up by 1 to 2k every month. Can some one tell me how much capital gains tax am I liable to pay ?

33% - 1270 allowance - initial investment and/or losses incurred on other investments.

harmless

Jackben75 wrote: »

33% - 1270 allowance - initial investment and/or losses incurred on other investments.

And if the initial investment is mining?

ConseyMan

Jackben75 wrote: »

33% - 1270 allowance - initial investment and/or losses incurred on other investments.

Unless you emigrate to portugal where it is
33% -1,000,000 allowance - initial investment and/or losses incurred on other investments.

Which if i you make enough money, and it doesn't look like i will, would certainly be worth it.
:cool:

crushproof

Guys come, to the tax thread with all this chat!

harmless

crushproof wrote: »

Guys come, to the tax thread with all this chat!

I'm excited that I'm making enough that I have to think about tax!

HGVRHKYY

crushproof wrote: »

Guys come, to the tax thread with all this chat!

Why?

Please let the rest of us know exactly what you would like to be talked about ITT, oh great one, so we can tailor our discussions to your personal preference!

Actually gas how some people feel entitled to try and control how conversations flow on online forums, you'd say something if it was completely irrelevant and off topic but it isn't, just let people off to talk about whatever comes up naturally. I could've sworn crypto was about decentralisation, yet people here are trying to assert some strange authority over what can be talked about in which threads

shawki

HGVRHKYY wrote: »

Why?

Please let the rest of us know exactly what you would like to be talked about ITT, oh great one, so we can tailor our discussions to your personal preference!

Actually gas how some people feel entitled to try and control how conversations flow on online forums, you'd say something if it was completely irrelevant and off topic but it isn't, just let people off to talk about whatever comes up naturally. I could've sworn crypto was about decentralisation, yet people here are trying to assert some strange authority over what can be talked about in which threads

"Is anyone else starting to become a bit excited?"

Tax does not excite me.

HGVRHKYY

shawki wrote: »

"Is anyone else starting to become a bit excited?"

Tax does not excite me.

Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!

HGVRHKYY

On that note,

Hungary plans Bitcoin tax cut as part of economic recovery program

As part of the post-COVID-19 relief efforts, lawmakers are considering reducing taxes on cryptocurrency trading to 15% of income, down from the current rate of 30.5%

harmless

shawki wrote: »

Tax does not excite me.

It excites me so a mod would have to make a call on if it belongs here.

Whelo79

HGVRHKYY wrote: »

Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!

So do it in the purpose made tax chat thread.

Thargor

Ethereum investors reading all these carnage and big drop comments:

Nody

harmless wrote: »

It excites me so a mod would have to make a call on if it belongs here.

Mod:
Rub two Dogecoins together and we are summoned from our crypto form...

It's a good question and no real ruling was done previously; hence with the omnipotent powers invested in me I've created a new thread for all tax discussion to go. The discussion has a tendency to keep coming up over and over again in multiple threads and hence gathering it in one place seems to make more sense as per the mega thread concept in other forums.

BTT making a satisfactory recovery for me.

Keeping me holdings up me jumper.

Jeff2

Good up tick now it seems

XLM was doing the going through this behind ETH.

From what I'm watching.

Mucashinto

Just paid a 223e fee on uniswap like it was normal.

I have no idea what I'm doing anymore tbh. All the "DYOR" and fundamentals and blah blah blah and all you had to do was buy doge really.

So many top signals (for months now tbh) and still it's going. Wilder than I ever imagined it would be, has me spinning at this stage honestly. Is this actual real money? Where does it come from, does nobody miss it? Fairly sure I'm the dumb money here

(Had a few drinks and bought some $SATA)

ZeroThreat

HGVRHKYY wrote: »

Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!

Time to watch some nomad capitalist videos on youtube, with the extremely effete host

Jeff2

Buy the dip they said and all fine they said.



I'm loving this.

nathan99

Mucashinto wrote: »

Just paid a 223e fee on uniswap like it was normal.

Someone correct me if Im wrong , but I think its possible to avoid these gas fees using the Matic network ( Which is essentially a L2 to eth ). I think their equivalent is called Quickswap.

Mastroianni

Anyway guys correct me if I'm wrong, I'm struggling with stop-loss-limit order on the exchange:

"stop" is when an order, whether is buy or sell, is triggered: we activate the exchange to sell/buy. And "limit" is when effectively the order goes. In case we want to mitigate our loss we trigger (stop) a sell order at 100 and we effectively sell at 90. In case to buy at a good price we trigger (stop) at 100 and we buy at 110. Can you correct me if I said wrong?

rednoggin

Markus Antonius wrote: »

Time Capsule post:

Litecoin 44.76

Litecoin price is wrong

TheValeyard

Think ill finish mining ETH for the moment and switch to Monero.

JibJabWibWab

TheValeyard wrote: »

Think ill finish mining ETH for the moment and switch to Monero.

Why? ETH mining is currently more profitable than ever before...

What kind of miner do you have?

JibJabWibWab

JibJabWibWab wrote: »

Why? ETH mining is currently more profitable than ever before...

What kind of miner do you have?

I think there is a problem with ethermine or something. My hashrate is a consistent 60mhs but it says my current is 79.1 and my daily earnings are $15.42, which seems high. I updated to the newest lolminer this morning.

Mastroianni

Mastroianni wrote: »

Anyway guys correct me if I'm wrong, I'm struggling with stop-loss-limit order on the exchange:

"stop" is when an order, whether is buy or sell, is triggered: we activate the exchange to sell/buy. And "limit" is when effectively the order goes. In case we want to mitigate our loss we trigger (stop) a sell order at 100 and we effectively sell at 90. In case to buy at a good price we trigger (stop) at 100 and we buy at 110. Can you correct me if I said wrong?

Very curious about this too. I got it wrong once and bought a load of BTC by accident. I just use limit orders now.

TheValeyard

JibJabWibWab wrote: »

Why? ETH mining is currently more profitable than ever before...

What kind of miner do you have?

Just using a 3090, and just about paid off the card by mining. But I'd also bought some Eth well back in the day.

Just feel the fees getting too high with ETH, everyones now at it. Would it be better to switch to a smaller but stable coin and build up again see if it goes the Eth way.

JibJabWibWab

TheValeyard wrote: »

Just using a 3090, and just about paid off the card by mining. But I'd also bought some Eth well back in the day.

Just feel the fees getting too high with ETH, everyones now at it. Would it be better to switch to a smaller but stable coin and build up again see if it goes the Eth way.

What fees? my miner runs HiveOS, using Phoenixminer and there are no fees.

I think you'd be mad to stop mining ETH, it's by far the most profitable, and the value of ETH is only going to increase.

Also, AFAIK Monero can't be mined with a GPU, only a CPU...

TheValeyard

JibJabWibWab wrote: »

What fees? my miner runs HiveOS, using Phoenixminer and there are no fees.

I think you'd be mad to stop mining ETH, it's by far the most profitable, and the value of ETH is only going to increase.

Also, AFAIK Monero can't be mined with a GPU, only a CPU...

Oh I Mean by use of wallet, not HDD wallet. But on Monero I've been using the CPU for that and GPU for Eth. Might look into HiveOS and Pheonixminer., been using different software like nanopool, but so far it's been very reliable.

irish_goat

LRC up 67% today. Only have a small amount but it had been doing nothing for months.

weemcd

irish_goat wrote: »

LRC up 67% today. Only have a small amount but it had been doing nothing for months.

Great to see, I could see this happening to a lot of coins over the next few weeks. Hopefully I hit some of them. Fingers crossed.

sergioaguero

Hi Folk,

is that Coinsmart website any use to trade crypto on? i have already signed up as i got some free money on it and was wondering is it ok to use?

Mastroianni

Mastroianni wrote: »

Anyway guys correct me if I'm wrong, I'm struggling with stop-loss-limit order on the exchange:

"stop" is when an order, whether is buy or sell, is triggered: we activate the exchange to sell/buy. And "limit" is when effectively the order goes. In case we want to mitigate our loss we trigger (stop) a sell order at 100 and we effectively sell at 90. In case to buy at a good price we trigger (stop) at 100 and we buy at 110. Can you correct me if I said wrong?

antimatterx

Binance actually seems the most reasonable for gas fees on eth.

Working out at around ~€24.

sparkletooth

Mastroianni wrote: »

You'd put a stop loss order in to protect against liquidation.

You only need to worry about stop loss orders if you're doing short trades. If you don't know how to trade just buy and hold.

A limit order is the lowest price you want to pay. It will trigger if the coin price hits that figure.

You can set hail Mary limit orders and get lucky if there's a large correction. Not always likely

harmless

Deleted User wrote: »

I think there is a problem with ethermine or something. My hashrate is a consistent 60mhs but it says my current is 79.1 and my daily earnings are $15.42, which seems high. I updated to the newest lolminer this morning.

No problem, reported and current are different because of the luck factor involved. It generally averages out over time.

You are earning a high amount in USD due to high ETH price and large activity on the network casing high gas prices with this gas going to miners as payment.

sparkletooth

harmless wrote: »

No problem, reported and current are different because of the luck factor involved. It generally averages out over time.

You are earning a high amount in USD due to high ETH price and large activity on the network casing high gas prices with this gas going to miners as payment.

Enjoy making those profits until eip1559 in July. Oh, and don't sell your ETH

harmless

antimatterx wrote: »

Binance actually seems the most reasonable for gas fees on eth.

Working out at around ~€24.

If you have it in your own wallet and not a market you can set your own gas fees. There are sites with recommended gas fee based on speed of transaction, just never go lower than recommended or the miners will have no interest in adding it to the block.

weemcd

Had a semi decent recovery today that's now been rugged.

This crypto business wouldn't be long pissing you off...

harmless

weemcd wrote: »

Had a semi decent recovery today that's now been rugged.

This crypto business wouldn't be long pissing you off...

Tokens or a well established coin?

weemcd

harmless wrote: »

Tokens or a well established coin?

Pretty much all well established coins.

I bought a tiny amount of SHIB for the lols but majority of my holdings are LINK/ADA/SOL/HBAR

Oh my poor VET, why dost thou bleed?

FFVII

https://www.coindesk.com/bitcoin-whales-selling-pullback-risk

patnor1011

weemcd wrote: »

Pretty much all well established coins.

I bought a tiny amount of SHIB for the lols but majority of my holdings are LINK/ADA/SOL/HBAR

Well established coins are only 2 in my opinion. BTC and ETH.
I may throw in few more like XMR and BNB as both do have some use one providing some anonymity other for the fees on exchange. Anything other is just hope to get somewhere for people who missed the train 10 years ago. I am not saying anything bad about any of the other coin and watching price changes on exchange when some do 100% and more up or down within a day is certainly opportunity how to make quick buck or lose your pants fast. I wish I know which one it will be tomorrow. One can try to spread few hundred or few thousands in different coins but while you can make it big on one or two you probably lose any gain on the rest anyway.

sparkletooth

[Deleted User] wrote: »

Oh my poor VET, why dost thou bleed?

Sorry but VET is way overvalued. I don't know how it's so high in MC. Maybe they paid CZ for that high listing on CMC perhaps?