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Ethereum

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    #602
    Michael_Res1
    Registered Users Posts: 57 ✭✭Michael_Res1


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


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    #603
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    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


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    #604
    Thargor
    Registered Users Posts: 17,945 ✭✭✭✭Thargor


    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.


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    #605
    OEP
    Registered Users Posts: 1,181 ✭✭✭OEP


    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


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    #606
    Michael_Res1
    Registered Users Posts: 57 ✭✭Michael_Res1


    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.


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    #607
    Icyseanfitz
    Registered Users Posts: 7,410 ✭✭✭Icyseanfitz


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


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    #608
    antimatterx
    Registered Users Posts: 2,836 ✭✭✭antimatterx


    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


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    #609
    frag420
    Registered Users Posts: 6,158 ✭✭✭frag420


    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?


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    #610
    One More Toy
    Registered Users Posts: 3,783 ✭✭✭One More Toy


    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


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    #611
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    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.


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    #612
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    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.


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    #613
    dougal0691
    Registered Users Posts: 92 ✭✭dougal0691


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


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    #614
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    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?


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    #615
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [Deleted User] wrote: »
    Can you elaborate on this? How does it avoid CGT?

    You keep your crypto and borrow on the strength of it


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    #616
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    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


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    #617
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [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


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    #618
    One More Toy
    Registered Users Posts: 3,783 ✭✭✭One More Toy


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


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    #619
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    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


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    #620
    One More Toy
    Registered Users Posts: 3,783 ✭✭✭One More Toy


    [Deleted User] wrote: »
    Celsius loans are not available here, this is a reason I moved back to crypto.com

    Oh really? Howcome?


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    #621
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    One More Toy wrote: »
    Oh really? Howcome?

    It just says not available in your jurisdiction when you try


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    #622
    One More Toy
    Registered Users Posts: 3,783 ✭✭✭One More Toy


    [Deleted User] wrote: »
    It just says not available in your jurisdiction when you try

    Is blockfi available here?


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    #623
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    One More Toy wrote: »
    Is blockfi available here?

    I don't know


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    #624
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


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


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    #625
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [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!


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    #626
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


    [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.


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    #627
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    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.


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    #628
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [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


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    #629
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


    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.


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    #630
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [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


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    #631
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


    [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.


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