Ethereum

Move to the UK. CGT allowance is £12,300

dougal0691

winstonia83 wrote: »

Move to the UK. CGT allowance is £12,300

I live on the border with NI, would buying a house in the North and living in it be enough, or would I need to work there as well?

Michael_Res1

dougal0691 wrote: »

I live on the border with NI, would buying a house in the North and living in it be enough, or would I need to work there as well?

No, you need to be tax resident for at least 3 years.

djan

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.

Taking a loan out and subsequently receiving the funds is not a taxable event. You don't get hit by CGT when you get a mortgage or a personal loan. The form of collateral is not relevant and as long as the lender deems it acceptable you're good to go.

dougal0691

Michael_Res1 wrote: »

No, you need to be tax resident for at least 3 years.

I was wondering more about work. if I live in the North and work in the south or vice versa, where am I resident? Is it solely down to where I live?

Michael_Res1

dougal0691 wrote: »

I was wondering more about work. if I live in the North and work in the south or vice versa, where am I resident? Is it solely down to where I live?

To be not resident in ROI you need to be not living here for more than 186 days in the year I think or 270 days in two years. But your domilicied in ROI aswell so you won't escape the cgt unless living and working in ni for next 3 years.

Thargor

Through 4k and still running!

antimatterx

Tempted to throw more at this

PopePalpatine

Thargor wrote: »

Through 4k and still running!

You had me excited for a second as I dipped in again yesterday at 3,100...euros, not dollars.

Still, ~10% ROI in 24 hours isn't to be sniffed at. The only way you'd get that from a bank would be during some horrendous hyperinflationary shitstorm.

Xaniaj

Is anyone staking their ETH? I recently staked mine on kraken and I understand there's some debate as to the rate of tax to pay (whether dirt, or paye or cgt) but aside from that, how are you calculating the value of what is to be taxed?

I got my most recent stake 'reward' and let's say it was 1ETH, what value do I assign it?

ETA, I just noticed that the exchange actually gave a value to the reward so I presume its that!

new2tri19

I've been interested in investing in Eth I did some reading on it but I just can't seem to understand the price movements and people's reaction to the movement. The more I read the more confused I get it seems most people invest after the price rises. The price rise gives people confidence and they put money in . Like it's 2000 no one is talking about it , it goes to 3k and everyone is getting involved . I also see people saying it will got to 10-100k ( not here specifically Reddit etc ) . If you really think that just buy it and hold it till you hit target .
It doesn't feel like investing it feels like speculation. I like the idea of crypto but I feel the whole thing is going to come crashing down because the whole thing is gone crazy

Jackben75

antimatterx wrote: »

Tempted to throw more at this

wouldn't blame you, could go anywhere from here, 10k? amazing anyway. I am trying to catch the next big one, which i am convinced will be DOT, possibly Dash, BNB, Lisk, Solana. Interesting and amazing times indeed. Congrats on Eth @everybody

bladespin

new2tri19 wrote: »

It doesn't feel like investing it feels like speculation. I like the idea of crypto but I feel the whole thing is going to come crashing down because the whole thing is gone crazy

Essentially the same thing though I get where you're coming from, they're looking at it like the penny stocks of old and in ways it's behaving the same - boom or bust, that said if you can get in on the ground floor or thereabouts for small stakes then ...

Jackben75

bladespin wrote: »

Essentially the same thing though I get where you're coming from, they're looking at it like the penny stocks of old and in ways it's behaving the same - boom or bust, that said if you can get in on the ground floor or thereabouts for small stakes then ...

similar to .com era and indeed the internet and the likes of amazon, google, facebook etc. New technology/trends will always emerge, each will create top tier business and then lower caps etc, arguably it is the way of the world in any business. There is always skepticism. Obviously if you invest in complete crap, you should not expect much of a return.

harmless

I hold ETH and had planned to hold long term.

I don't like what is happening, this growth looks crazy to me. It would make more sense if it was on the back of major announcement from governments or financial institutions. The small number of bonds issued by the European Central Bank is not enough to justify what I am seeing.

I would much rather slow steady growth.

I welcome counter arguments, it's always good to get different perspectives.

Father Hernandez

harmless wrote: »

I hold ETH and had planned to hold long term.

I don't like what is happening, this growth looks crazy to me. It would make more sense if it was on the back of major announcement from governments or financial institutions. The small number of bonds issued by the European Central Bank is not enough to justify what I am seeing.

I would much rather slow steady growth.

I welcome counter arguments, it's always good to get different perspectives.

I'm enjoying the ride tbh. Having held since 2017 and seen it stoop down to $200, it's a nice 'concern' to be worried about after hitting $4k.

Globally given the pandemic, there has been huge amounts of money printed leaving a fair bit at the bottom of peoples pockets for a lot of people. Crypto is flourishing IMO as people would rather invest in something that has seen large growth rather than sitting in a savings account.

Crypto has become a little more mainstream too so that always helps, Bitcoin is very expensive for someone to dip their toes and maybe ETH is seen as a nice alternative. Given economic uncertainty too in certain countries, I've spoken to a number of people different parts of the world who are using crypto to send money home rather than going though the traditional banking routes, less costs and easier to withdraw apparently.

The majority are blindly following the rest and wouldn't know a whole lot about the tech behind the scenes, an alternative to stock trading. Just my two cents.

OEP

harmless wrote: »

I hold ETH and had planned to hold long term.

I don't like what is happening, this growth looks crazy to me. It would make more sense if it was on the back of major announcement from governments or financial institutions. The small number of bonds issued by the European Central Bank is not enough to justify what I am seeing.

I would much rather slow steady growth.

I welcome counter arguments, it's always good to get different perspectives.

The growth is crazy but there has been huge growth in DeFi, which is primarily on ethereum. Over $100B locked in.

harmless

Father Hernandez wrote: »

I
Crypto has become a little more mainstream too so that always helps, Bitcoin is very expensive for someone to dip their toes and maybe ETH is seen as a nice alternative. Given economic uncertainty too in certain countries, I've spoken to a number of people different parts of the world who are using crypto to send money home rather than going though the traditional banking routes, less costs and easier to withdraw apparently.

This is true, people are now starting to see the value in the technology.
But there are so many coins that it will just take a few to become unstable to shake confidence.
I predict a massive crash and then which ever coins are the most beneficial will rise from it with some slow steady growth.

Basically a repeat of the .com boom.

OEP wrote: »

The growth is crazy but there has been huge growth in DeFi, which is primarily on ethereum. Over $100B locked in.

Are many DeFi tokens still very vulnerable to pump and dumps?

Until that is addressed I think the growth in DeFi is extremely unstable.

Edit: Also I think a large part of the investment right now are people who have seen some became millionaires from crypto in the past(and some will in the future)
Crypto has a big long term future IMO but what is happening now could be greed driven and that never ends well.

OEP

It'll probably follow a similar pattern as before where there will be a crash and a few years of stagnation, in terms of prices. All the while development of DeFi and other applications will continue, increasing the utility

bladespin

I wouldn't be so cynical tbh, the growth looks unsustainable (and is really), that's mainly investment driven too but as soon as that slows then things will level off, possibly after a small drop - reasoning that most seem to be investing with a longer term view, for many this is still in the early adopter phase (myself included), I don't foresee mass dumps or abandonment at the first signs of slowing.

harmless

bladespin wrote: »

I wouldn't be so cynical tbh, the growth looks unsustainable (and is really), that's mainly investment driven too but as soon as that slows then things will level off, possibly after a small drop - reasoning that most seem to be investing with a longer term view, for many this is still in the early adopter phase (myself included), I don't foresee mass dumps or abandonment at the first signs of slowing.

I'm only cynical at what is happening right now, not the long term. I do think there is an element of greed though, I've been watching a few pump and dumps unfold with tokens. I tried to warn people but very few listened.

What I'm trying to decide is if I stake or sell some and see if I can buy back in at lower price points(I know risky but could work out well)

New uses for crypto continue to be discovered and I have no doubt about the long term, it just seems like we are in a short term bubble.

bladespin

harmless wrote: »

I'm only cynical at what is happening right now, not the long term. I do think there is an element of greed though, I've been watching a few pump and dumps unfold with tokens. I tried to warn people but very few listened.

What I'm trying to decide is if I stake or sell some and see if I can buy back in at lower price points(I know risky but could work out well)

New uses for crypto continue to be discovered and I have no doubt about the long term, it just seems like we are in a short term bubble.

Yes, I can appreciate that, everyone is jumping on the bus which makes for big element of the gambler in there, many thinking thy'll become overnight millionaires (someday), they seem to be prepared for to wait Ether to have it's day though which is good unless they all decide to drop and jump on the next bus, as long as forward momentum is being made I don't see that.

Michael_Res1

In terms of the bull cycle, I think we are firmly in the belief stage. There is still the thrill and euphoria stage to go. Another btc and eth gain of 30 to 40 per cent by the end of the year is good enough for me lol.

HGVRHKYY

harmless wrote: »

I hold ETH and had planned to hold long term.

I don't like what is happening, this growth looks crazy to me. It would make more sense if it was on the back of major announcement from governments or financial institutions. The small number of bonds issued by the European Central Bank is not enough to justify what I am seeing.

I would much rather slow steady growth.

I welcome counter arguments, it's always good to get different perspectives.

If you're planning on holding long-term, what difference does this short-term price action make? Even if it sprints up to $10k in the next few months and crashes, it'll recover and surpass that in the 2024/2025 bull run, which is surely the length of time you'd be holding since you want to hold long-term

You either believe and feel confident in it long-term and can hold through the rollercoaster or you can't, I can't understand nervousness or being overly emotional about it like this tbh

HGVRHKYY

harmless wrote: »

This is true, people are now starting to see the value in the technology.
But there are so many coins that it will just take a few to become unstable to shake confidence.
I predict a massive crash and then which ever coins are the most beneficial will rise from it with some slow steady growth.

Basically a repeat of the .com boom.




Are many DeFi tokens still very vulnerable to pump and dumps?

Until that is addressed I think the growth in DeFi is extremely unstable.

Edit: Also I think a large part of the investment right now are people who have seen some became millionaires from crypto in the past(and some will in the future)
Crypto has a big long term future IMO but what is happening now could be greed driven and that never ends well.

Literally anyone who's been investing in and following crypto for a few years would 'predict' a crash will happen after this bull run, a bull run can't continue indefinitely, so it's even fair to say a lot of us would be expecting a massive crash before this bull run even properly took off. Crypto has proven it works in cycles based around Bitcoin's halvings which occur roughly every 4 years, they've historically occurred 12-18 months after the halvings and the last halving occurred in May 2020 - so here we are

"Basically a repeat of the .com boom"

More like basically a repeat of the previous Bitcoin cycles. The exact same as what's happening now happened in 2017/2018, look at the charts. The S2F model even does a good job of showing how it goes up and down over the years

harmless

Good analysis, I agree.

Thargor

New ATH overnight, heading for 5k now, anything could happen from here tbh.

Refractions

HGVRHKYY wrote: »

If you're planning on holding long-term, what difference does this short-term price action make? Even if it sprints up to $10k in the next few months and crashes, it'll recover and surpass that in the 2024/2025 bull run, which is surely the length of time you'd be holding since you want to hold long-term

You either believe and feel confident in it long-term and can hold through the rollercoaster or you can't, I can't understand nervousness or being overly emotional about it like this tbh

Absolutely no guarantee of this, especially with ETH which is heavily reliant on 2.0 promises. If that doesn't go to plan, ETH is wide open to competition.

TheValeyard

Wow, the gas fees have dramatically increased.

HGVRHKYY

Refractions wrote: »

Absolutely no guarantee of this, especially with ETH which is heavily reliant on 2.0 promises. If that doesn't go to plan, ETH is wide open to competition.

There's no guarantee on anything in this industry, but it's still highly unlikely that 2.0 won't be well implemented and operating by 2024/2025, even if it is delayed in 2021/2022. There's too much at stake for them to not ensure they launch it smoothly, and they are progressively making updates with a clear defined path to it

Either way I think it's still wide open to competition, you already have DOT with a growing ecosystem and ADA will have picked up steam by 2024 as well, but I'm still mostly betting on ETHs already massive ecosystem still growing quicker than the others