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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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Unearthly

Binance for me. Free Sepa deposits, large selection of coins, reasonable fees.

olestoepoke

hello2020 wrote: »

i m a new to this and want to start with couple of grands buying Crypto. which platform should i use to start with? which currency to pick for this small amount? is Coinbase or Uphold good places to start with?

I started on Coinbase and quickly switched to Binance and it had more selection, then I ended up opening accounts at Hoo, Bitforex and a few others searching for some obscure tokens/coins. BTW Bilaxy are a robbing shower of so an so's.

hello2020

i m a new to this and want to start with couple of grands buying Crypto. which platform should i use to start with? which currency to pick for this small amount? is Coinbase or Uphold good places to start with?

dougal0691

[Deleted User] wrote: »

Can I clarify this; does converting from BTC to ETH count as a taxable event?

yes, the only conversion that is not taxable is the initial one from euro to whatever you are buying.

[Deleted User]

[Deleted User] wrote: »

Can I clarify this; does converting from BTC to ETH count as a taxable event?

Yes, you've converted one asset to another

[Deleted User]

cravings wrote: »

Converting it to anything else counts as a disposal and is taxable.

Can I clarify this; does converting from BTC to ETH count as a taxable event?

Donegal1234

Lex Luthor wrote: »

this post never ages

https://www.boards.ie/vbulletin/showpost.php?p=114404926&postcount=4365

Well played lex. Are you still holding our have your sold your bags.

Lex Luthor

Donegal1234 wrote: »

Just checked on CoinGecko up over 18,000% since this time last year. Nice gains for anybody who bought cheap.

this post never ages

https://www.boards.ie/vbulletin/showpost.php?p=114404926&postcount=4365

Donegal1234

Irish_rat wrote: »

What correction? Theta in the top 10

Just checked on CoinGecko up over 18,000% since this time last year. Nice gains for anybody who bought cheap.

Lex Luthor

Irish_rat wrote: »

What correction? Theta in the top 10

mwah haha ha

BrandonBay86

EagererBeaver wrote: »

Are you going to announce it every week?

More than likely.

Irish_rat

bfa1509 wrote: »

What's causing this correction?

What correction? Theta in the top 10

makeorbrake

bfa1509 wrote: »

What's causing this correction?

All of these gamblers with their leveraged up positions need to be cleared out periodically....and that's a good thing.

cnocbui

Give it a day or two for a decen't number of Turks to get registered on exchanges and I wouldn't be surprised to see a bit of a spike as they seek protection from their mad leader and his economic follies.

cnocbui

Volumes aren't very high so it's possibly some silly reaction to Powel blowing air. It's hardly a correction, just an ordinary day for BTC.

bfa1509

What's causing this correction?

Crush On You

Looking to diversify my portfolio (from BTC). Would people throw a bit of money on Chainlink, Cardano or Ethereum? Or have I missed the boat on these?

EagererBeaver

BrandonBay86 wrote: »

Another 500,000 Satoshis thrown into cold storage for a few years.

Are you going to announce it every week?

BrandonBay86

Another 500,000 Satoshis thrown into cold storage for a few years.

Room1o1

Bob24 wrote: »

J Powell actually join the BTC/gold debate today :-) Talking about Bitcoin he just said “It is essentially a substitute for gold rather than the dollar”.

https://www.marketwatch.com/story/feds-powell-says-bitcoin-is-more-of-a-substitute-for-gold-than-the-dollar-11616424786

Thanks, he also quoted "Crypto assets are highly volatile — see Bitcoin — and therefore not really useful as a store of value. They’re not backed by anything. They’re more of an asset for speculation,” Powell said

It is backed by the proof of work though

Bob24

J Powell actually joined the BTC/gold debate today :-) Talking about Bitcoin he just said “It is essentially a substitute for gold rather than the dollar”.

https://www.marketwatch.com/story/feds-powell-says-bitcoin-is-more-of-a-substitute-for-gold-than-the-dollar-11616424786

makeorbrake

Room1o1 wrote: »

Looks like I was thinking about it the wrong way. Bitcoin is comparable to gold &#55357;&#56860; but honestly your making my point better than me just I was giving gold too much credit just as some are giving bitcoin to much too

Hmm...I'm not so sure. You can correct me if I'm wrong but you've been tending to look at how bitcoin matches gold up until now. You also have to take into account that bitcoin has its own tricks up its sleeve. Gold fails in terms of divisibility - so it can never been an optimal means of exchange. Bitcoin is also formative as a base settlement layer. It can be moved at will and with ease. When it comes to micro-transactions, its not at the races but that may come back into play through layer two solutions built on top of it.

The gold market has also been highly manipulated largely due to its centralisation. You may be able to store physical gold but the reality is that the majority is stored centrally. Bitcoin could be similarly challenged but it stands a much better chance of not being under the thumb in this respect.

It's supply is completely finite - nothing matches it in that respect. The point is that there are other facets in play here which means that it may well be a much more powerful force than gold going forward.

Room1o1

Mellor wrote: »

Deflated Gold chart. Last 250 years. No exactly stable.
Non linear y-axis too, so it's worse than it looks.

Some body using Gold to store their wealth in 1980, lost almost 90% or it's real world value by 2000.
They've managed to claw it back to 66% though. Woo-hoo.

Looks like I was thinking about it the wrong way. Bitcoin is comparable to gold ðŸ˜œ but honestly your making my point better than me just I was giving gold too much credit just as some are giving bitcoin to much too

Mellor

Room1o1 wrote: »

No mistake here thank you. Gold is created by supernovas not one but many. Takes its form due to the electron configuration. If copied your creating gold not a copy. It's rare, it's stable, its conductive and expensive for these reasons

All elements take their form due to electron configuration. Like oxygen, the most abundant element on earth.
A conductive metal is hardly unique.
There are plenty of rare metals. More rare than gold. Platinum, Iridium, Palladium, Rhodium.

Rhodium is about 15 times as expensive as gold.

As pointed about previous. Gold status as the Gold Standard, stems from historical tradition. It was rare, but not so rare so as to be unknown in 1000 years ago.

djan wrote:

I'd like to add that the value of gold is only so because people believe in it.

Exactly. Which is essentially the value any system of currency.

makeorbrake

Room1o1 wrote: »

Yeah no guarantee in life expext death and taxes. 6000 years is a good tract record though

In terms of the 'established history' characteristic of a store of value, gold leads - no contest. In other respects, bitcoin is ahead.

Room1o1 wrote: »

So you agree its not comparable to gold, at least not right now?

It's formative in the role. There is no complete certainty that it makes it - but it certainly seems to be doing so. I take the view that everything needs to be under constant review.

Room1o1 wrote: »

I can agree with this. Not at you but some think I'm saying to abandon bitcoin I'm saying to be weary of its description as the new gold

That's reasonable. I'd also add that it's not unreasonable to keep gold under review. It's not a crazy thought to believe that btc could canabalise its market cap. That doesn't mean gold disappears but its price could suffer over the next few years. It's just something to bear in mind.

djan

I'd like to add that the value of gold is only so because people believe in it. In terms of being a raw material for manufacturing etc. it is not all that valuable. It also has a fluctuating and non-finite supply.

End of the day, the value of something is just what somebody else is willing to pay/trade for it. There is no way to measure or forecast that. Humans have quite a strong herd mentality due to being largely social creatures and therefore it's not wise to assume that giving something value has to be strictly "rational". Just look at the belief of the majority of citizens in their nations currency, as their savings and purchasing power are being destroyed by inflation.

Mellor

Deflated Gold chart. Last 250 years. No exactly stable.
Non linear y-axis too, so it's worse than it looks.

Some body using Gold to store their wealth in 1980, lost almost 90% or it's real world value by 2000.
They've managed to claw it back to 66% though. Woo-hoo.

Room1o1

makeorbrake wrote: »

The bet on its further progression in the role is assymetric. For that reason, I believe its irresponsible for anyone not to have 1-2% exposure to bitcoin.

I can agree with this. Not at you but some think I'm saying to abandon bitcoin I'm saying to be weary of its description as the new gold

Room1o1

Mellor wrote: »

It's ok. You don't need to reply.
The fact you can't back up what you said, or provide examples is proving the case for those of us pointing out your mistakes.

No mistake here thank you. Gold is created by supernovas not one but many. Takes its form due to the electron configuration. If copied your creating gold not a copy. It's rare, it's stable, its conductive and expensive for these reasons

Room1o1

makeorbrake wrote: »

It's still formative in that role - but that is also why there is greater upside potential right now. In the future - once mature - I expect bitcoin to be a really boring asset (but one in which people can park up their wealth without having it eroded via inflation or confiscated by banks, governments, etc.).

So you agree it's not comparable to gold. At least not right now

I hold gold as well as bitcoin - so I wouldn't complain. That said, no more than bitcoin, gold should be continually assessed as we go forward. Past performance may provide some guidance re. future performance but it's not a guarantee.

I never said don't buy bitcoin only gold. By point from the start is wondering why people compare it to gold. Is it wishful thinking or trying to convince others. As I said it has potential but potential is just that

I'm not so sure - gold will probably be a good store of value then but there's no guarantee per se.

Yeah no guarantee in life expext death and taxes. 6000 years is a good tract record though