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Ethereum

The fact that theres not even a thread yet says it all really, what is going on with ETH? Its completely stuck around $300. Are all the ICOs liquidating at this level or something? All the momentum seems to have fallen away. I have about 50% left compared to when I started with it and tempted to dump everything and wait and see what happens with BTC.

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At some point that pump money is going to flow to btc.

Michael_Res1 wrote: »

At some point that pump money is going to flow to btc.

The money being pumped into eth? I wouldn't be so sure

Michael_Res1 wrote: »

At some point that pump money is going to flow to btc.

BTC doubled a while back and ETH didnt, we're just collecting our dues here, the real action hasn't even started yet.

Michael_Res1 wrote: »

At some point that pump money is going to flow to btc.

I think people are starting to see more of a future in ETH too. I would bet money flows from BTC into ETH in the future

OEP wrote: »

I think people are starting to see more of a future in ETH too. I would bet money flows from BTC into ETH in the future

BTC dominance in the last bull run dropped to 35% dominance. We are at 45% at the moment. Id expect we get to 35% again and there is a bounce back to btc. Money flowing to eth at the moment is profit from other alts since BTC price is consolidating.

Good push on ethereum lately, anyone predicting a huge crash in it this year?

I'm expecting $10K this year then cashing out. I'd love to hold, but eth at $10K would really improve my property deposit and get me a much nicer apartment next year

I currently have .7099 of ETH, worth E2280.

This is more than double what I put in at xmas. I want to pay off some loans/credit cards so is it worth putting more into ETH now or have I missed the boat for any big gains?

If I were to drop say another 500 into Eth today, good call or no?

frag420 wrote: »

I currently have .7099 of ETH, worth E2280.

This is more than double what I put in at xmas. I want to pay off some loans/credit cards so is it worth putting more into ETH now or have I missed the boat for any big gains?

If I were to drop say another 500 into Eth today, good call or no?

Use defi to take a loan against your holdings, avoid cgt

frag420 wrote: »

I currently have .7099 of ETH, worth E2280.

This is more than double what I put in at xmas. I want to pay off some loans/credit cards so is it worth putting more into ETH now or have I missed the boat for any big gains?

If I were to drop say another 500 into Eth today, good call or no?

Only you can make that call. Much like gambling only put in what you can afford to throw away.

frag420 wrote: »

If I were to drop say another 500 into Eth today, good call or no?

Long term probably good, short-term it's a coin-flip between good and utterly devastating.

looks like there's a bit of a correction starting.

One More Toy wrote: »

Use defi to take a loan against your holdings, avoid cgt

Can you elaborate on this? How does it avoid CGT?

[Deleted User] wrote: »

Can you elaborate on this? How does it avoid CGT?

You keep your crypto and borrow on the strength of it

Badly fukt wrote: »

You keep your crypto and borrow on the strength of it

So is the suggestion to take out a loan, pay off the other debts with that loan, so that the ETH is untouched? Moving around debts and don't have to pay CGT on selling the ETH? I think I get it

[Deleted User] wrote: »

So is the suggestion to take out a loan, pay off the other debts with that loan, so that the ETH is untouched? Moving around debts and don't have to pay CGT on selling the ETH? I think I get it

Yep, over time keeping the ETH is the best option that far outweighs cashing in and CGT

I am looking into it myself, either blockfi or celcius network

One More Toy wrote: »

I am looking into it myself, either blockfi or celcius network

Celsius loans are not available here, this is a reason I moved back to crypto.com

[Deleted User] wrote: »

Celsius loans are not available here, this is a reason I moved back to crypto.com

Oh really? Howcome?

One More Toy wrote: »

Oh really? Howcome?

It just says not available in your jurisdiction when you try

[Deleted User] wrote: »

It just says not available in your jurisdiction when you try

Is blockfi available here?

One More Toy wrote: »

Is blockfi available here?

I don't know

How exactly does this avoid cgt? Something doesn't make sense.

[Deleted User] wrote: »

How exactly does this avoid cgt? Something doesn't make sense.

You've not cashed in and realised a financial gain therefore do not owe CGT!

[Deleted User] wrote: »

You've not cashed in and realised a financial gain therefore do not owe CGT!

How have you not realised financial gain? You've got cash in your hand dont you? Do you pay rhe loan back with crypto? At best, you're delaying your cgt. You're also taking a risk if the value of your crypto tanks and you're taking a hit on the loan fees. In the end, paying more than just the cgt.

Deleted User wrote: »

In the end, paying more than just the cgt.

It's income tax applied if it's loaned out. And if anyone's worried about crypto tanking while loaning it out (because they might have to put more in as collateral if it drops), they don't have enough to loan.

Now would be a very saucy time to be loaning crypto out if you don't have many spare sh!tcoins.

[Deleted User] wrote: »

How have you not realised financial gain? You've got cash in your hand dont you? Do you pay rhe loan back with crypto? At best, you're delaying your cgt. You're also taking a risk if the value of your crypto tanks and you're taking a hit on the loan fees. In the end, paying more than just the cgt.

Where is the financial gain? It's a loan, loans are not taxable, you can convert it into fiat or other crypto or load it on a visa immediately. Yes you will repay the collateral, but you've got to work out the advantage of holding the crypto another year in a bull market versus realising the financial gain now and paying the 33% CGT you owe on it

OK sure, but if you're making money off crypto currency you have to pay cgt no matter how you funnel that money. There is no way around it.

[Deleted User] wrote: »

OK sure, but if you're making money off crypto currency you have to pay cgt no matter how you funnel that money. There is no way around it.

You can realise €1270 profit a year, every year and not pay CGT

[Deleted User] wrote: »

You can realise €1270 profit a year, every year and not pay CGT

Yes of course and there is no need to take out a loan for this. But you do still need to declare it.