correct horse battery staple wrote: » I get all that and somewhat agree, Portugal/Malta/Singapore are all nice places with plenty of sun. BUT unless you a sitting on million+ of crypto (quite possible for some who didnt do dumb stuff like buying pizzas ) thats quite a big move, its easy to get carried away in current euphoria but this is the 5th spike in Bitcoin prices i am experiencing, (30$ in 2011 was it?, 2000$ in 2014, 16000$ in 2018, 12,000 in 2019) i mean unless you sell right now at this very price and you dont endup having your bank account locked and revenue looking sideways at you over sudden bonanza is it actually a realistic plan? we might land at anywhere from 100,000 to 1000 bitcoin next few months and then months and/or years of flat growth
cnocbui wrote: » I have many reasons for wishing to emigrate, but Irish taxes, the cost and need for expensive Irish legal services all your life, the piss-poor third world health system, general Irish dysfunctionality, the absolutely crap weather and and lack of sunshine, the worlds highest inheritance taxes, the worlds highest CGT, are high among them. DIRT. Europes highest car ownership costs. Thick politicians like Gormley being allowed to make policy and the general sway socialist thinking has in this country... Yes, some people are actually thinking of leaving this soaking wet socialist paradise and find the prospect enticing, and not at all a negative.
Pdoghue wrote: » You mean John Gormley? and what's your alternative? Do you think we have a socialist government for example?
BrandonBay86 wrote: » The pubs must have reopened, pintmen nowhere to be seen.
KilOit wrote: » What's frustrating is at peak bear market he was front and centre fudding the hell out of crypto when it was the best time to buy. He probably put a lot of people off making a lot of money. He should be here now fudding the market when people could sell at a profit
Dohnjoe wrote: » Crypto forums full of people cashing out to pay mortgages, etc, very 2017-esque Am curious to see how Tesla will handle people paying for cars in crypto, BTC moved 10% today in less than the time it takes to send BTC, so will be interesting.
OEP wrote: » Maybe it's a bet on the long term increase in value of BTC so that any payments now will be worth more in the future. It's also unlikely there'll be many Teslas bought with BTC
Bob24 wrote: » Doubt they’ll price anything in BTC. I think they’lol probably offer BTC payment but based on an invoice in USD and they will convert the funds to USD immediately after the payment is processed. Also when comes the time to pay, they’ll request a BTC amount which is slightly higher than the actual USD price and give a rather short time limit for the payment to be completed, in order to cover their volatility risk. Pretty much what all crypto payment services are doing.
Dohnjoe wrote: » All those extra hurdles, sounds much easier just to pay in USD, which is what I suspect most customers will do. But at least now we have Tesla invested in BTC, which will make them shill it for us to boost value, it's all good.
Bob24 wrote: » I guess the idea is to be the “poor” holder’s Lambo. If someone gained wealth quickly with bitcoins and wants to pay with them, why not taking it?
shrapnel222 wrote: » I'm pretty sure there is No CGT to pay if you use your bitcoin to pay for things, so buying a 50k car might be a very attractive to many.
correct horse battery staple wrote: » I am 99% sure this is wrong and there is CGT liability, you converted 1 asset into euro/usd (the car would be priced in euro i presume regardless of payment method) and then bought another (rapidly depreciating :P asset) but theres a taxable event in the middle, the conversion by lets say bitpay to euro. Anyways its all speculation lets see of Tesla actually do offer crypto as payment option.
Bus Wanker wrote: » What is everyone's thoughts on selling now? I have a couple of k in bitcoin and eth. Up around 50% now. Don't particularly need the money but this feels a lot like the last boom and bust. Just wondering does anyone feel the same or think there's more mileage in it?
shrapnel222 wrote: » That's the point though, there is no conversion to euro, if you can pay by bitcoin. There's obviously an equivalence, but if you're priced in bitcoin and pay Tesla in bitcoin there is no conversion and no gains event. You can buy currency (USD gbp etc) as long as you spend it (retail, holiday, buying an asset etc.) , it's only when you speculate, and exchange against other currencies that it becomes liable to CGT. Could be way off here, but I'm pretty sure this is correct.
Irish_rat wrote: » Cake up 26% today, keep an eye on it folks!
deathbomber wrote: » Depends on your goal, ie do you want to get minted and thus willing to lose it all as it's worth the chance or are you just looking to make a few quid, possibly to reinvest. Sounds like your undecided, for me that equals take some profit and let the rest ride
shrapnel222 wrote: » Went digging a little further and it would appear that cryptocurrency is not considered as a currency, so the above isn't applicable. Carry on so ;-)
Bob24 wrote: » There is definitely CGT. Would be a bit too easy otherwise ;-)
