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Is anyone else starting to become a bit excited?

q85dw7osi4lebg

As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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Gooey Looey

baalad wrote: »

Huh?? Are you joking ? So i can theoretically invest 10k Make 100k and just hand them 2k and be like yeah thats all i owe you?? lol

Yes of course you can, but the self assessment tax system is what we have. Businesses and self employed do their own accounts and figure out and pay their tax returns. This is the reason why we have very heavy penalties, huge fines and jail time if you get caught! They can go back 6 years in an audit.

You must be about 12 if you don't understand how taxation works!

baalad

Gooey Looey wrote: »

Yes of course you can, but the self assessment tax system is what we have. Businesses and self employed do their own accounts and figure out and pay their tax returns. This is the reason why we have very heavy penalties, huge fines and jail time if you get caught! They can go back 6 years in an audit.

You must be about 12 if you don't understand how taxation works!

Believe it or not i never did business in school and for years i worked in the building trade getting cash in hand so i never had to know about tax really! I might not be the most educated man on the planet also so apologies if i sound dumb! Tax is just an area i do not know much about!

Someone tried telling me recently that you can only be taxed on whats in your account so basically spend your money and you cannot be taxed.

Gooey Looey

baalad wrote: »

Believe it or not i never did business in school and for years i worked in the building trade getting cash in hand so i never had to know about tax really! I might not be the most educated man on the planet also so apologies if i sound dumb! Tax is just an area i do not know much about!

Someone tried telling me recently that you can only be taxed on whats in your account so basically spend your money and you cannot be taxed.

This is crypto not cash, everything you do is completely traceable!

Truckermal

Seriously kicking myself now watching BTC! I had 4 of them back in April and thought hard about asking Instaste to swop one for his Car but didn't have the Balls. What a ****ing mistake for all of us!

ironictoaster

I have serious FOMO atm. Not sure if I will bother BTC now, unless there's a dip. Will stick to RSR however

seannash

ironictoaster wrote: »

I have serious FOMO atm. Not sure if I will bother BTC now, unless there's a dip. Will stick to RSR however

I said that at 22k 2 weeks ago but did it anyway. Its definitely not as appealing now at the current price but if you think the predictions of 100k are correct for 2021 you can still triple your money in a year.

downcow

Jafin wrote: »

That's what I'm currently doing as of last month. Not 10-15%, in fact only a very minor amount (€26 in BTC and €26 in ETH) but that's solely because I'm currently house hunting and I don't want there to be any large chunks of money moving regularly from my bank account that might get questioned when it comes to the stage of drawdown. Once I've gotten past all of that and know how much money I'll have left at the end of each month I'll very likely increase my monthly investments. Crypto looks to be the smartest way of investing for long term gains.

I am very naive to all this. How would I invest monthly. Is that an expensive way to do it. Is there a charge per transaction.
Sorry for all the questions. I am with bitpanda
Any advice appreciated

ironictoaster

seannash wrote: »

I said that at 22k 2 weeks ago but did it anyway. Its definitely not as appealing now at the current price but if you think the predictions of 100k are correct for 2021 you can still triple your money in a year.

Ah I'm only willing to deposit 1K at the moment so not worth my while IMO.

Well done to everyone who invested early on!

BrandonBay86

ironictoaster wrote: »

Ah I'm only willing to deposit 1K at the moment so not worth my while IMO.

Well done to everyone who invested early on!

Not worth your while potentially 3x ing your money within a year or two?

grindle

baalad wrote: »

Someone tried telling me recently that you can only be taxed on whats in your account so basically spend your money and you cannot be taxed.

Don't follow that person's advice & ignore everything they say in future.

If you put in €10k which grows to €200k or whatever amount and sell at that price, you don't get to lodge it into your bank and spend it, Revenue will want their 33%. If you've spent it and think saying "Lol no, I've spent it suckers" will work you will be facing hefty fines, possible bankruptcy and maybe some sweet prison time

Irish_rat

ironictoaster wrote: »

Ah I'm only willing to deposit 1K at the moment so not worth my while IMO.

Well done to everyone who invested early on!

Dollar cost average, keep putting in small increments every week.

Probably wont be a millionaire but over time who knows.

Maybe some of those sh*t altcoins might be worth a small fortune in 5 years.

It's still early yet.

LedgerSuck

ironictoaster wrote: »

I have serious FOMO atm. Not sure if I will bother BTC now, unless there's a dip. Will stick to RSR however

Ah they all say that! It was <$5k in March - on sale from ~$13k in 2019 - and $6-9k for a few months, so if people didn't bother their holes buying any then, they won't the next time it dips either

This is why DCAing is the way to go for most people, just stop hesitating and trying to time the market and get on with it or else live with regrets after every cycle passes you by

ironictoaster

LedgerSuck wrote: »

Ah they all say that! It was <$5k in March - on sale from ~$13k in 2019 - and $6-9k for a few months, so if people didn't bother their holes buying any then, they won't the next time it dips either

This is why DCAing is the way to go for most people, just stop hesitating and trying to time the market and get on with it or else live with regrets after every cycle passes you by

To be honest. I'm still a noob when it comes to crypto. I will look into DCA on binance.

LedgerSuck

downcow wrote: »

I am very naive to all this. How would I invest monthly. Is that an expensive way to do it. Is there a charge per transaction.
Sorry for all the questions. I am with bitpanda
Any advice appreciated

I'm not sure about Bitpanda, don't know their fees, but Kraken's fees are alright, about the same as Coinbase Pro's (just don't use regular Coinbase). You'd be better off making weekly buys instead of once a month as well given how volatile it can be, so you'd potentially catch more dips with the weekly buys compared with monthly. Just transfer over whatever amount you're putting in once a month and then decide on a day/time to invest each week and stick to it, consistently. The bank transfer is basically the most awkward part depending on your bank, but after the first transfer or two the funds should arrive in the exchange within a few hours if you do it in the morning. You buy the same set fiat (€) amount weekly by the way, and if there are any nice dips or crashes there's no harm increasing that € amount for that week

For all intents and purposes it's just an alternative, side savings account, except you stand to actually have your funds hopefully increase in the long run, as opposed to having your money gradually bleed out in a regular savings account due to our **** interest rates. Just be sure you're comfortable and not overextended by the amount you're putting in each week and overall, don't invest more than you're willing to lose

AmberGold

Coming in a bit late on this one but with recent gains in BTC, etc. I feel it’s only a matter of time before Revenue do a trawl of Revolut, Coinbase etc in an effort to enforce CGT compliance.

On the CGT issue yes it’s high but Revenue don’t discriminate between investing and short term trading which suits me. In other jurisdictions you could be looking at the higher rate for short term gains.

Lastly I notice in the UK that there’s a significant push to bring CGT in line with the top level rate as they endeavour to sort out the financial mess caused by COVID / Brexit.

makeorbrake

AmberGold wrote: »

Lastly I notice in the UK that there’s a significant push to bring CGT in line with the top level rate as they endeavour to sort out the financial mess caused by COVID / Brexit.

I suspect that higher taxes globally are likely to be a feature over the next few years - but that doesn't make them right/equitable (at those higher levels I mean).

LedgerSuck

https://www.nasdaq.com/articles/bitcoin-will-rise-above-%24100000-in-2021-2021-01-01?amp

Good article here

Bob24

Another night, another ATH. We’re not that far from 35k now.

myshirt

Where is everyone buying their Bitcoin? Where is the cheapest?

Coinbase have a spread built in, and it is 0.0005 BTC to withdraw. Can you get better than this?

Within reason of course. Right balance of security, ease of use, etc.

Bob24

myshirt wrote: »

Where is everyone buying their Bitcoin? Where is the cheapest?

Coinbase have a spread built in, and it is 0.0005 BTC to withdraw. Can you get better than this?

Within reason of course. Right balance of security, ease of use, etc.

Bitstamp, Kraken, Binance or other major exchanges will all give you better execution prices than a broker like Coinbase.

Now if you are just buying once in a while as opposed to trading regularly, Coinbase is fine if this is what you are confortable with.

OEP

I sold out at 27k thinking there might be a correction imminent. That's the last time I ever try to trade my crypto! Luckily I still have my ETH from 2017

BrandonBay86

$34,000. Best Christmas break in years.

deathbomber

Touching 35k has me gasping &#55358;&#56596; &#55357;&#56837; , mental but great

BrandonBay86

OEP wrote: »

I sold out at 27k thinking there might be a correction imminent. That's the last time I ever try to trade my crypto! Luckily I still have my ETH from 2017

Yikes, hope it drops so you can get back in. That’s a tough lesson to learn.

OEP

BrandonBay86 wrote: »

Yikes, hope it drops so you can get back in. That’s a tough lesson to learn.

I hope so too! I only bought a couple of months ago so we're not taking major money anyway. I didn't want a repeat of 2017 where I held throughout and ended up with zero profits at the end of it, but lesson learned here.

BrandonBay86

OEP wrote: »

I hope so too! I only bought a couple of months ago so we're not taking major money anyway. I didn't want a repeat of 2017 where I held throughout and ended up with zero profits at the end of it, but lesson learned here.

Those that held throughout the bear market and kept buying are up an awful lot, look into DCA’ing.

Str8outtaWuhan

I've been DCA-ing since Oct, I'm putting money away for the kids so i never intend to cash any of this crypto , rather just hand my keys to them when they turn 18 . I hope by then they can use BTC and ETH for whatever they want.

Dohnjoe

BrandonBay86 wrote: »

Those that held throughout the bear market and kept buying are up an awful lot, look into DCA’ing.

Yes indeed, best time to buy is when it's in the gutter and no one talking about it. There'll be another opportunity considering how fast this is all starting to rise.

Dohnjoe

Str8outtaWuhan wrote: »

I've been DCA-ing since Oct, I'm putting money away for the kids so i never intend to cash any of this crypto , rather just hand my keys to them when they turn 18 . I hope by then they can use BTC and ETH for whatever they want.

Keep in mind people did this in 2017 and by end 2018 it was down 90% +

Not a bad idea to cash out the principle in a bull run (in stages)

OEP

BrandonBay86 wrote: »

Those that held throughout the bear market and kept buying are up an awful lot, look into DCA’ing.

Yea I didn't have a combination of the cash and risk appetite to buy into itduring the bear market. I was saving a deposit for a house, which I now have. I had enough exposure at the time with my ETH but in the next crash I will be in a better position to buy. I'll look into that, thanks.