Mellor wrote: » It's irrelevant what they have invested. The maths is the same either way. Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.
Daithi40 wrote: » Not necessarily.... in my case being a divorcee I need to show x amount of fiat for a new mortgage for example, banks ain't too hot on hearing how much crypto you own or stake Anyway, everybody's situation is different, I get your maths but it's not applicable to everyone's situation or risk appetite
Mellor wrote: » In that case you've withdrew a safety net. There is nothing wrong with that. But it differs from the example I quoted. In that example they withdrew, but immediately started to reinvest with DCA. That serves no purpose other than to reduce your BTC holdings. It's irrelevant what they have invested. The maths is the same either way. Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC. It would be a valid strategy in a falling market, but in a rising one. It's just giving away BTC.
jester77 wrote: » I withdrew my initial investment a while back. It was about 20% of the value of what I have. It just feels like we are in a huge bubble. If it keeps going, I still have the other 80% working for me, if it collapses I can buy in again.
Lex Luthor wrote: » what is it was 25k and not an amount they could afford to lose, but now their investment is up to 125k and they are in a great position to take back that 25k and treat themselves with a decent amount still in the game
flexcon wrote: » Oh I get it. I’ve no doubt. But I don’t have the confidence or intellect to understand how in gods name it drops from 9K to 4.5K in less than 48 hours. It’s real money I put in there and it’s gone. It’s over. I’m not going to sink because of this but all my Play money is lost. Once it’s back up then I’m out and buying a play station or something I can actually enjoy for a few years of peace!
sabat wrote: » Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.
grindle wrote: » Dose for them! I'm excited for sub €100 ETH and the slide in the last 10 mins makes me think it's near definite, gonna splooge my pants.
Jeff2 wrote: » Ask what's his name... Tax compliment. I think you have to be 183 days out of the country a year.
Meself wrote: » Ok.. so if I'm reading it right, you pick a date every month and stick to it? ...same stock
Timmaay wrote: » ...if some of the posters here have already done 1500% I'm assuming there are a significant number of yous who are already in a life changing scenario thanks to crypto, you surely gotta strongly considering getting out then, rather than simply "hodl forever"
ZeroThreat wrote: » The problem with that is that you have to become non ordinarily resident here before you're exempt from CGT and knowing the zealous nature of Irish revenue (unless you're a large multinational) they'll chase you whereever you go, so realistically you'll have to wait 3 years before selling anything off after emigrating.
cnocbui wrote: » In the hypothetical case where your profits are potentially life changing, I would emigrate to somewhere with a lot less than 33% CGT, preferably 0%, before taking profit.
Timmaay wrote: » DCA = dollar cost averaging, you have like 12k to invest in the year, you buy a grand start of each month regardless of any dips or peaks. What alot of people do is instead is try to spread that same 12k across what they think themselves are dips. Trouble here is when you start catching a falling knife and it keeps on dipping ha, just make sure you like don't blow most your 12k in like feb as its dip after dip, then the actual bottom only comes later in the year.
Meself wrote: » Ive read a bit about DCA but cannot get my head around it. Is it simply buying in a dip throughout the year and holding? Do you set a dip target and hope it dips to it ? Why would you not put all on a dip target ? In case it goes lower on the next one ? Who is to say it will ever reach it again.
It started with CryptoKitties. In December 2017, the dopey-looking cartoon cats, created by Canadian company Dapper Labs, debuted as tradable collectibles, like Pokémon cards for the bitcoin era. Each image was associated with a unique string of digits – a cryptocurrency “non-fungible token” or NFT – that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty. The trading game quickly caught on among the crypto-initiated, so much so that CryptoKitties-related transactions clogged and slowed down Ethereum. Its end point is an auction starting tomorrow, in which a token associated with a digital collage of 5,000 images by graphic designer Beeple will go under the hammer at auction house Christie’s. Cryptocurrency payments are of course accepted.
BrandonBay86 wrote: » Wallet up over 1500% from the lows of March 11/12th last year from buying dips & DCAing. Wouldn’t get that in the S&P.
Irish_rat wrote: » The end game is getting out of the 9-5. Plan is stack heavily in the next bear market and will see where I am 3-4 years from now. Move to a crypto tax friendly country where I can purchase in btc etc.
cnocbui wrote: » Let's say you bought 4 bitcoin for €1K each back in the day. Then when the price had doubled, you sold two of them, recouping your initial €4K. This is great, right, you now have two 'free' bitcoin and you even dodged CGT due to your allowance. You stick that now safe €4K in the bank and it starts disolving away from inflation. Fast forward to today when BTC is €47,852.5. The opportunity cost of protecting your precious €4k is €95,705. That's a pretty expensive insurance policy if you ask me. If you can't afford to lose that €4K, I could ask what are you doing in the kitchen in the first place, but I won't. I guess I'm just greedy, stupid, or have my eye on the bigger picture - take your pick, but I only invest what I can afford to lose, and since I can afford to lose it, I don't need to protect it, so for me, personally, I don't see this as a great strategy.
yabadabado wrote: » This is probably a stupid question but surely at some stage you will sell ? What's the end game ?
Thargor wrote: » Fingers crossed a free house.
