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Is anyone else starting to become a bit excited?

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Comments

  • Closed Accounts Posts: 190 ✭✭Quantum Baloney


    We going up.


  • Registered Users, Registered Users 2 Posts: 514 ✭✭✭BrandonBay86


    As always buying the dip never fails


  • Registered Users, Registered Users 2 Posts: 8,147 ✭✭✭Unearthly


    I hope everyone followed the advice in the worried topic and sold at 43k ....


  • Registered Users, Registered Users 2 Posts: 2,251 ✭✭✭massdebater


    Saying the bad crypto podcast is a bit anti establishment is like saying Hitler was a bit anti semetic. It's a good listen even though they have started to shill NFCs a lot lately. I still don't really get the whole space but do regret not trying to get the street fighter cards when they mentioned they were launching.

    The street fighter cards were giving away a free NFT every day for a week or so before the sale, that's how I got involved. So my wax wallet was already set up by the time the sale came.
    There will be plenty of other NFTs to get involved in, seems to be new ones mentioned every week


  • Registered Users, Registered Users 2 Posts: 21,192 ✭✭✭✭cnocbui


    Unearthly wrote: »
    I hope everyone followed the advice in the worried topic and sold at 43k ....

    I hope all those people moaning about wanting a pull back so they could buy the dip, had the courage of their convictions. I suspect most wouldn't have, because words are cheap and courage is difficult when the sky is falling.


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  • Registered Users, Registered Users 2 Posts: 1,199 ✭✭✭OEP


    Let's see if this peak is higher than the previous peak, or if its a slow decline


  • Registered Users, Registered Users 2 Posts: 2,577 ✭✭✭Irish_rat


    Dohnjoe wrote: »
    If certain cryptos drop significantly again I might reinvest. Most people I know who've been into crypto for 3+ years have also been taking profits.

    Explain taking profits. Converting into fiat is not.


  • Registered Users, Registered Users 2 Posts: 1,199 ✭✭✭OEP


    Irish_rat wrote: »
    Explain taking profits. Converting into fiat is not.

    I'd imagine selling something at a higher price than you bought it would be considered taking profits


  • Registered Users, Registered Users 2 Posts: 4,009 ✭✭✭One More Toy


    The street fighter nfts got horribly expensive right about the 24 hours in which I was considering them on the secondary market. Typical!


  • Registered Users, Registered Users 2 Posts: 2,577 ✭✭✭Irish_rat


    OEP wrote: »
    I'd imagine selling something at a higher price than you bought it would be considered taking profits

    Yes but the minute you put it into fiat you are losing money.


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  • Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭Lex Luthor


    Rob2D wrote: »
    Several precious metal dealers already accept crypto for bullion and have done so for a while. Nothing new here AFAIK.

    yip, beat me to it


  • Registered Users, Registered Users 2 Posts: 1,199 ✭✭✭OEP


    Irish_rat wrote: »
    Yes but the minute you put it into fiat you are losing money.

    So if I sell 1 bitcoin now for fiat and buy say 1.2 bitcoin in a few weeks or months time with the same amount of money, I'm losing money?


  • Registered Users, Registered Users 2 Posts: 21,192 ✭✭✭✭cnocbui


    Irish_rat wrote: »
    Explain taking profits. Converting into fiat is not.

    Only if the conversion into fiat results in you getting the same amount you paid for the asset. If you get back more fiat than you paid, it certainly is taking a profit.


  • Registered Users, Registered Users 2 Posts: 21,192 ✭✭✭✭cnocbui


    This seems a bit bullish:
    NEW YORK/LONDON (Reuters) - Bitcoin rose nearly 7% on Monday as risk assets rallied after last week's bond rout cooled, with Citi saying the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trade.

    With the recent embrace of the likes of Tesla (NASDAQ:TSLA) Inc and Mastercard Inc (NYSE:MA), bitcoin could be at the start of a "massive transformation" into the mainstream, the investment bank said.

    Goldman Sachs (NYSE:GS), meanwhile, has restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients next week, a person familiar with the matter told Reuters.
    https://www.investing.com/news/technology-news/bitcoin-is-at-a-tipping-point-citi-says-2433029


    I guess someone at Citi might have just taken a large position.


  • Registered Users, Registered Users 2 Posts: 10,905 ✭✭✭✭Bob24


    OEP wrote: »
    So if I sell 1 bitcoin now for fiat and buy say 1.2 bitcoin in a few weeks or months time with the same amount of money, I'm losing money?

    I don’t know if people want to call it losing money, but you will have paid 33% CGT on the gains related to your first transaction (meaning you will have to bring additional money to offset what Revenue took from you if you want to complete the second transaction).


  • Registered Users, Registered Users 2 Posts: 1,199 ✭✭✭OEP


    Bob24 wrote: »
    I don’t know if people want to call it losing money, but you will have paid 33% CGT on the gains related to your first transaction (meaning you will have to bring additional money to offset what Revenue took from you if you want to complete the second transaction).

    Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt


  • Registered Users, Registered Users 2 Posts: 21,192 ✭✭✭✭cnocbui


    OEP wrote: »
    Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

    Only if you don't have a cunning plan.


  • Registered Users, Registered Users 2 Posts: 1,199 ✭✭✭OEP


    cnocbui wrote: »
    Only if you don't have a cunning plan.

    Yes but the original comment was saying converting to fiat is not taking profits, seemingly regardless of avoiding tax


  • Registered Users, Registered Users 2 Posts: 18,211 ✭✭✭✭Thargor


    What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.


  • Registered Users, Registered Users 2 Posts: 514 ✭✭✭BrandonBay86


    Thargor wrote: »
    What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.

    I’d say we are about to head to the moon. (BTC will, ETH likely join it because ETH.)


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  • Registered Users, Registered Users 2 Posts: 15,067 ✭✭✭✭ShaneU


    We're back at 50k :)


  • Registered Users, Registered Users 2 Posts: 2,326 ✭✭✭Scuid Mhór


    Thargor wrote: »
    What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.

    The bullrun hasn't even started yet.


  • Registered Users, Registered Users 2 Posts: 222 ✭✭bosco12345


    OEP wrote: »
    Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

    There's bound to be multiple ways of avoiding that BS tax. Il cross that bridge when it comes to it though:)


  • Registered Users, Registered Users 2 Posts: 177 ✭✭Daithi40


    the last week....meh, all people new to this, I've been there, imo just hold and dca, we've seen this a hundred times, 3 years ago was nuts and very disappointing obviously but with the amount of corp investment and deals with visa and MC now and every day there are more news items about acceptance, I think that this is only going one way this year, I'll set my crazy sell limits to get my initial investment out (2/5 done in the last month) and then I'll continue to DCA forever..... its been a roller coaster but quite the blast

    I've made 5 x my initial investment in 3 years, beat that BOI you ****es .... I know unneeded but that annoyed me today

    the only reason I put up my profit is for new people to the space that...... its volatile.... try not to panic on the dips and for the love of God only or in your spare cash, do NOT bet the house on this crazy ride....


  • Registered Users, Registered Users 2 Posts: 21,192 ✭✭✭✭cnocbui


    I see no point in recovering your initial investment and then DCAing after that. You will almost inevitably be buying in at at levels higher than you sold for.


  • Registered Users, Registered Users 2 Posts: 10,905 ✭✭✭✭Bob24


    OEP wrote: »
    Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

    Agree, not selling to avoid CGT is a deferral game.

    Now, some people might have a strategy to defer forever (with low interest rates, many rich people roll-over loans against their assets rather than selling to defer CGT liabilities indefinitely) or to defer until they are in a friendlier tax jurisdiction. And also even without those strategies, every time time you trigger CGT early you are killing some of you compounding power (irrelevant if you are a short term trader, but important if you are a long term holder).


  • Registered Users, Registered Users 2 Posts: 19,030 ✭✭✭✭Dohnjoe


    Can't help but notice the similarities between Jan 2017 and now

    https://www.livecoinwatch.com/price/Ethereum-ETH - click on "all".

    Obviously I am hoping that this is a bastardisation of June 2017 where we are taking a "step up", but we'll have to see which route it takes.


  • Registered Users, Registered Users 2 Posts: 514 ✭✭✭BrandonBay86


    Another 1 million sats stacked and thrown into cold storage for 5+ years.


  • Registered Users, Registered Users 2 Posts: 15,067 ✭✭✭✭ShaneU


    Ugh


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  • Registered Users, Registered Users 2 Posts: 222 ✭✭bosco12345


    What wallet do people reccomend storing your crypto? Have been looking at atomic wallet, is this safe and reliable?


This discussion has been closed.
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