Is anyone else starting to become a bit excited?

q85dw7osi4lebg · 13-05-2019 11:21pm

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.

q85dw7osi4lebg · 13-05-2019 11:22pm

Grumpypants wrote: »

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.

Bob24 · 13-05-2019 11:25pm

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.

crushproof · 13-05-2019 11:27pm

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

Dohnjoe · 13-05-2019 11:32pm

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

q85dw7osi4lebg · 13-05-2019 11:33pm

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

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

Bob24 · 13-05-2019 11:40pm

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).

Arrival · 13-05-2019 11:42pm

Addison Fancy Macrame wrote: »

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

JJJJNR · 13-05-2019 11:52pm

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

q85dw7osi4lebg · 14-05-2019 12:18am

There's the retrace, 8500 next.

JJJJNR · 14-05-2019 6:49am

Nice, alts kicking in.

Copper_pipe · 14-05-2019 8:55am

Bitcoin gone up by 200 USD in about 2 hours

q85dw7osi4lebg · 14-05-2019 8:59am

Copper_pipe wrote: »

Bitcoin gone up by 200 USD in about 2 hours

$1144 in a day

BearsyBoo · 14-05-2019 9:02am

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

thunderdog · 14-05-2019 9:09am

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.

Grumpypants · 14-05-2019 9:26am

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.

sexmag · 14-05-2019 9:27am

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

JJJJNR · 14-05-2019 10:54am

sexmag wrote: »

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

. Nice nice.

JJJJNR · 14-05-2019 11:08am

Bitcoin hash rate :eek::eek:

*Massive pump incoming.

*Maybe a massive sell.

Frozen Veg · 14-05-2019 12:31pm

Where will I park my yacht.

q85dw7osi4lebg · 14-05-2019 12:34pm

Frozen Veg wrote: »

Where will I park my yacht.

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

sexmag · 14-05-2019 2:14pm

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

Blueshoe · 14-05-2019 2:29pm

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?

Bob24 · 14-05-2019 2:35pm

Blueshoe wrote: »

Why were they closed?

They were hacked.

Blueshoe · 14-05-2019 3:19pm

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

Bob24 · 14-05-2019 4:04pm

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.

Blueshoe · 14-05-2019 4:28pm

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

Bob24 · 14-05-2019 5:14pm

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.

Truckermal · 14-05-2019 5:42pm

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

q85dw7osi4lebg · 14-05-2019 5:45pm

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

Truckermal · 14-05-2019 5:49pm

Addison Fancy Macrame wrote: »

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

Yep converted MATIC to BTC last night and bought back in early this morning again when it had dropped! Taking all the profit as I want to tax and insure the Lexus today.

q85dw7osi4lebg · 14-05-2019 6:27pm

Truckermal wrote: »

Yep converted MATIC to BTC last night and bought back in early this morning again when it had dropped! Taking all the profit as I want to tax and insure the Lexus today.

Wise man!

Arrival · 14-05-2019 7:11pm

Blueshoe wrote: »

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

Did you genuinely not realise he was using an analogy to explain it better or...? I'm sorry for you if not

q85dw7osi4lebg · 14-05-2019 11:35pm

ETH doing a little solo march.

rapul · 15-05-2019 12:20am

Yeah was just gonna say ethereum making a good move

Grumpypants · 15-05-2019 4:12am

€200 ETH !!

Bob24 · 15-05-2019 6:32am

Addison Fancy Macrame wrote: »

ETH doing a little solo march.

XRP tagging along.

JJJJNR · 15-05-2019 6:55am

XLM making huge gains, eyeing up 20c.

q85dw7osi4lebg · 15-05-2019 8:46am

JJJJNR wrote: »

XLM making huge gains, eyeing up 20c.

Was going to buy 24 hours ago but went on XRP instead.

rapul · 15-05-2019 10:58am

Stellar man myself, just wish binance would open up again!

Tinder Surprise · 15-05-2019 11:57am

time for stop losses on some gains, maybe?

JJJJNR · 15-05-2019 12:34pm

rapul wrote: »

Stellar man myself, just wish binance would open up again!

Just getting my head around stellar, ever considered trading on their dex.

Frozen Veg · 15-05-2019 6:27pm

Addison Fancy Macrame wrote: »

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

May be more than one yacht.

Dohnjoe · 15-05-2019 6:47pm

Binance opening today seems to have given it a boost. A drop is due soon.

Truckermal · 15-05-2019 7:02pm

Dohnjoe wrote: »

Binance opening today seems to have given it a boost. A drop is due soon.

I was warned by a buddy when I started trading in 2017 about how volatile Cryptocurrency is but even taking his advice I never realised how bad it was! Yesterday was a prime example I checked my Binance and thought nice Matic is doing great but I've made enough and it won't last!

I checked in again and it had dropped 30% in 30 minutes which would have equated to €1000.

Another thing to check is your Data I got caught rotten before the BCH fork I purchased when it was pumping then checked the next day but it didn't refresh properly and the same the day after! It was after tanking about 40% so my whole year of good trading was completely wiped over it!

Anyway that's all I hope this makes us all rich!:)

makeorbrake · 15-05-2019 8:00pm

Dohnjoe wrote: »

Binance opening today seems to have given it a boost. A drop is due soon.

I was going to get out last night. I believe it's likely to take a short/medium term bath following this hike. However, I got to thinking about how the hell I get back in. I really have no idea how to time the market whereas on the longer spectrum, I am confident (in so far as one can be confident in crypto!!) that it is cycling up to an ATH and beyond - the other side of the halving.

As I write this, it's on the move again, at $8,240..

I would much prefer to ignore the price and that short term bath I think its going to take knowing that i'm still in as it climbs up over the next 24 months or so.

Dohnjoe · 16-05-2019 2:10am

Eth now $260
LTC over $100 (was touching $25 at xmas)

Frozen Veg · 16-05-2019 8:13am

Dohnjoe wrote: »

Eth now $260
LTC over $100 (was touching $25 at xmas)

And previously high of $300.

Blueshoe · 16-05-2019 8:15am

Frozen Veg wrote: »

And previously high of $300.

Yes. A little bit of perspective required

Dohnjoe · 16-05-2019 10:14am

Blueshoe wrote: »

Yes. A little bit of perspective required

Yup, and to add even more perspective, it was $300+ for only a tiny sliver of it's lifetime. If we remove the extremes, it's not a bad upward curve at all

You'll also notice the "crypto is dead" and "it's finished" comments have mysteriously vanished despite the tech remaining the same

Is anyone else starting to become a bit excited?

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