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Is anyone else starting to become a bit excited?

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Comments

  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Arrival wrote: »
    Do any of you know much about the tax aspect of holding long term? I'd like to hold for years, but someone told me that there's some unrealised gains tax after 7-8 years, is this the case? I'd honestly prefer to just hold for many many years, at least some, but if this is the case then it's pretty worrying considering just how high we're hoping the prices to reach

    The rate of CGT is ridiculous too, makes you want to potentially emigrate

    Deemed disposal is only on UCITS ETFs I believe (maybe some other stuff).

    Wouldn't be worrying about cgt until you have a few mill in your wallet and a gaf in the Caymans.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    I've a dose of Fomo myself and I held tight against the harsh cruel winter.

    Only put 500 in back around the 3k mark.

    A well next crash ill clean up :)

    On the bright side you have nearly tripled that.


  • Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Dohnjoe wrote: »
    You are the "second wave" of the weekend rises FOMO, so many SEPA's and transfers should be coming in tomorrow, be curious to see if it trounces the natural pullback

    Even with the exchanges’ usually very high fees for card transactions, in this case debit card purchases could have made sense rather than waiting for SEPA transfers (assuming we are talking fairly small amounts which can be processed as a card payment of course, not deposits if 10s of thousands).

    And you are making an interesting point on whether delayed SEPA transfers might keep things going. Having said that, given the volumes and the focus on Bitcoin rather than alcoins, I have a feeling that institutional money is at least patioally driving this. Just my opinion and could be wrong, but if correct it could limit the influence of individual investors being delayed while they are panick transferinf money to an exchange.


  • Registered Users Posts: 2,691 ✭✭✭crushproof


    Dohnjoe wrote: »
    crushproof wrote: »
    Of course I'm sitting here like a lame duck banging my head off my laptop waiting for money to come through to Coinbase

    You are the "second wave" of the weekend rises FOMO, so many SEPA's and transfers should be coming in tomorrow, be curious to see if it trounces the natural pullback

    Actually been dipping in dribs and drabs since early March, but I have a feeling the next week will be a massive rise before an inevitable dump. When that dump will be, who knows but I'm hanging on for the ride for the time being. Plenty of media coverage to boost Crypto for the next week at least IMO


  • Registered Users Posts: 17,701 ✭✭✭✭Dohnjoe


    Bob24 wrote: »
    Even with the exchanges’ usually very high fees for card transactions, in this case debit card purchases could have made sense rather than waiting for SEPA transfers (assuming we are talking fairly small amounts which can be processed as a card payment of course, not deposits if 10s of thousands).

    A surprising number of fiat exchanges don't accept CC any more


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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    We are now too close to 10k to not break it.

    We'll be there by Thursday I'd say.


  • Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Dohnjoe wrote: »
    A surprising number of fiat exchanges don't accept CC any more

    Do you mean specifically credit cards or you also include debit cards? (I think those are 2 different beasts and while I see a rationale for refusing credit card crypto purchases, I don’t see the problem with debit cards)

    ( to talk about what I know, I am pretty sure Bitstamp which is regulated in the EU does accept all cards).


  • Closed Accounts Posts: 779 ✭✭✭Arrival


    Arrival wrote: »
    Do any of you know much about the tax aspect of holding long term? I'd like to hold for years, but someone told me that there's some unrealised gains tax after 7-8 years, is this the case? I'd honestly prefer to just hold for many many years, at least some, but if this is the case then it's pretty worrying considering just how high we're hoping the prices to reach

    The rate of CGT is ridiculous too, makes you want to potentially emigrate

    Deemed disposal is only on UCITS ETFs I believe (maybe some other stuff).

    Wouldn't be worrying about cgt until you have a few mill in your wallet and a gaf in the Caymans.

    So there's no limit to how long we can hold cryptos, can just put the wallet away for 10-20+ years? Happy days!

    Honestly, the CGT rate just makes me mad. Here we have this emerging technology which is providing many of us who are totally normal, average people the opportunity to make life changing money and potentially setting up our future generations and they feel it's acceptable to force you to give over 33% of your earnings if your hugely risky investment pays off, but if you fail then go **** yourself. I'd happily pay <12.5-15% knowing that it's going to help the country but higher than that just ignites a kind of resentment since that's money that would potentially allow me to work way less/retire earlier/have a better future for my family. Moving to Belgium where they've no CGT isn't a difficult task


  • Closed Accounts Posts: 4,791 ✭✭✭JJJJNR


    Can't believe this is happening because of fair city.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    There's the retrace, 8500 next.


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  • Closed Accounts Posts: 4,791 ✭✭✭JJJJNR


    Nice, alts kicking in.


  • Registered Users Posts: 11,553 ✭✭✭✭Copper_pipe


    Bitcoin gone up by 200 USD in about 2 hours


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Bitcoin gone up by 200 USD in about 2 hours

    $1144 in a day


  • Registered Users Posts: 115 ✭✭BearsyBoo


    Ive one of those cassacius error coins which is fully loaded, anyone know anywhere in dublin I could sell it?


  • Registered Users Posts: 2,675 ✭✭✭thunderdog


    If previous bull runs are anything to go by, now would be a good time to get into the alts. Typically a lag between the rate of increase of bitcoin and the rate of increase of the alts.


  • Registered Users Posts: 7,719 ✭✭✭Grumpypants


    Bought some ETH last night with my messing money at €171, sold just now at 189.

    I have two funds, one holds tight the other lets me buy and sell to scratch that itch without much risk to the overall fund.


  • Registered Users Posts: 1,303 ✭✭✭sexmag


    BitTube up 52% in the last 24 hours,making a tidy profit there


  • Closed Accounts Posts: 4,791 ✭✭✭JJJJNR


    sexmag wrote: »
    BitTube up 52% in the last 24 hours,making a tidy profit there
    . Nice nice.


  • Closed Accounts Posts: 4,791 ✭✭✭JJJJNR


    Bitcoin hash rate :eek::eek:

    *Massive pump incoming.

    *Maybe a massive sell.


  • Registered Users Posts: 510 ✭✭✭Frozen Veg


    Where will I park my yacht.


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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Frozen Veg wrote: »
    Where will I park my yacht.

    I'm building a Marina in Drogheda you can have a free berth


  • Registered Users Posts: 1,303 ✭✭✭sexmag


    Binance to reopen deposits and withdrawals tomorrow,major pain in the ass as I've a few alts there


  • Banned (with Prison Access) Posts: 3,964 ✭✭✭Blueshoe


    sexmag wrote: »
    Binance to reopen deposits and withdrawals tomorrow,major pain in the ass as I've a few alts there

    Why were they closed?


  • Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Blueshoe wrote: »
    Why were they closed?

    They were hacked.


  • Banned (with Prison Access) Posts: 3,964 ✭✭✭Blueshoe


    Bob24 wrote: »
    They were hacked.

    And at the same time bitcoin starts pumping. The weird wild manipulated corrupted world of crypto. Lol

    I love it


  • Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Blueshoe wrote: »
    And at the same time bitcoin starts pumping. The weird wild manipulated corrupted world of crypto. Lol

    I love it

    It is only an exchange which was hacked though, not bitcoin. Because a bank which was holding euros gets robbed doesn’t mean the euro necessarily has a problem.


  • Banned (with Prison Access) Posts: 3,964 ✭✭✭Blueshoe


    Bob24 wrote: »
    It is only an exchange which was hacked though, not bitcoin. Because a bank which was holding euros gets robbed doesn’t mean the euro necessarily has a problem.

    No its nothing like the banks and the euro


  • Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Blueshoe wrote: »
    No its nothing like the banks and the euro

    Basically what happened is that hackers managed to obtain the keys for Binance’s hot wallet, and used them to transfer some bitcoins out. Not a single flow with bitcoin there, just someone who forced into the exchange’s IT systems to obtain what they needed to use bitcoin as designed.

    It’s not vastly different from someone raiding a bank and taking away piles of cash.

    You can blame the exchange (or the bank) for not protecting its asset well enough (electronically or physically), but in both cases the theft doesn’t correspond to an issue with the asset itself.

    And actually in both cases, not only the fact that the asset gets stolen from an institution doesn’t ruin confidence in it, but it can have the opposite effect: if someone choses to go though all those efforts to steal it, it must be valuable.


  • Registered Users Posts: 6,048 ✭✭✭Truckermal


    Bit of sideways action again I had a good day out of MATIC again but it started sliding at about 3pm..


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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Truckermal wrote: »
    Bit of sideways action again I had a good day out of MATIC again but it started sliding at about 3pm..

    Did you take any profits or are you full long on it


This discussion has been closed.
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