Is anyone else starting to become a bit excited?

Quantum Baloney

We going up.

BrandonBay86

As always buying the dip never fails

Unearthly

I hope everyone followed the advice in the worried topic and sold at 43k ....

massdebater

TheMilkyPirate wrote: »

Saying the bad crypto podcast is a bit anti establishment is like saying Hitler was a bit anti semetic. It's a good listen even though they have started to shill NFCs a lot lately. I still don't really get the whole space but do regret not trying to get the street fighter cards when they mentioned they were launching.

The street fighter cards were giving away a free NFT every day for a week or so before the sale, that's how I got involved. So my wax wallet was already set up by the time the sale came.
There will be plenty of other NFTs to get involved in, seems to be new ones mentioned every week

cnocbui

Unearthly wrote: »

I hope everyone followed the advice in the worried topic and sold at 43k ....

I hope all those people moaning about wanting a pull back so they could buy the dip, had the courage of their convictions. I suspect most wouldn't have, because words are cheap and courage is difficult when the sky is falling.

OEP

Let's see if this peak is higher than the previous peak, or if its a slow decline

Irish_rat

Dohnjoe wrote: »

If certain cryptos drop significantly again I might reinvest. Most people I know who've been into crypto for 3+ years have also been taking profits.

Explain taking profits. Converting into fiat is not.

OEP

Irish_rat wrote: »

Explain taking profits. Converting into fiat is not.

I'd imagine selling something at a higher price than you bought it would be considered taking profits

One More Toy

The street fighter nfts got horribly expensive right about the 24 hours in which I was considering them on the secondary market. Typical!

Irish_rat

OEP wrote: »

I'd imagine selling something at a higher price than you bought it would be considered taking profits

Yes but the minute you put it into fiat you are losing money.

Lex Luthor

Rob2D wrote: »

Several precious metal dealers already accept crypto for bullion and have done so for a while. Nothing new here AFAIK.

yip, beat me to it

OEP

Irish_rat wrote: »

Yes but the minute you put it into fiat you are losing money.

So if I sell 1 bitcoin now for fiat and buy say 1.2 bitcoin in a few weeks or months time with the same amount of money, I'm losing money?

cnocbui

Irish_rat wrote: »

Explain taking profits. Converting into fiat is not.

Only if the conversion into fiat results in you getting the same amount you paid for the asset. If you get back more fiat than you paid, it certainly is taking a profit.

cnocbui

This seems a bit bullish:

NEW YORK/LONDON (Reuters) - Bitcoin rose nearly 7% on Monday as risk assets rallied after last week's bond rout cooled, with Citi saying the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trade.

With the recent embrace of the likes of Tesla (NASDAQ:TSLA) Inc and Mastercard Inc (NYSE:MA), bitcoin could be at the start of a "massive transformation" into the mainstream, the investment bank said.

Goldman Sachs (NYSE:GS), meanwhile, has restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients next week, a person familiar with the matter told Reuters.

https://www.investing.com/news/technology-news/bitcoin-is-at-a-tipping-point-citi-says-2433029


I guess someone at Citi might have just taken a large position.

Bob24

OEP wrote: »

So if I sell 1 bitcoin now for fiat and buy say 1.2 bitcoin in a few weeks or months time with the same amount of money, I'm losing money?

I don’t know if people want to call it losing money, but you will have paid 33% CGT on the gains related to your first transaction (meaning you will have to bring additional money to offset what Revenue took from you if you want to complete the second transaction).

OEP

Bob24 wrote: »

I don’t know if people want to call it losing money, but you will have paid 33% CGT on the gains related to your first transaction (meaning you will have to bring additional money to offset what Revenue took from you if you want to complete the second transaction).

Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

cnocbui

OEP wrote: »

Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

Only if you don't have a cunning plan.

OEP

cnocbui wrote: »

Only if you don't have a cunning plan.

Yes but the original comment was saying converting to fiat is not taking profits, seemingly regardless of avoiding tax

Thargor

What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.

BrandonBay86

Thargor wrote: »

What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.

I’d say we are about to head to the moon. (BTC will, ETH likely join it because ETH.)

ShaneU

We're back at 50k

Scuid Mhór

Thargor wrote: »

What do ye reckon lads are things consolidating at these high levels before the next leg up or are we entering a decline like the last spike? Im looking at the all time charts for ETH and BTC and I honestly cant decide.

The bullrun hasn't even started yet.

bosco12345

OEP wrote: »

Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

There's bound to be multiple ways of avoiding that BS tax. Il cross that bridge when it comes to it though:)

Daithi40

the last week....meh, all people new to this, I've been there, imo just hold and dca, we've seen this a hundred times, 3 years ago was nuts and very disappointing obviously but with the amount of corp investment and deals with visa and MC now and every day there are more news items about acceptance, I think that this is only going one way this year, I'll set my crazy sell limits to get my initial investment out (2/5 done in the last month) and then I'll continue to DCA forever..... its been a roller coaster but quite the blast

I've made 5 x my initial investment in 3 years, beat that BOI you ****es .... I know unneeded but that annoyed me today

the only reason I put up my profit is for new people to the space that...... its volatile.... try not to panic on the dips and for the love of God only or in your spare cash, do NOT bet the house on this crazy ride....

cnocbui

I see no point in recovering your initial investment and then DCAing after that. You will almost inevitably be buying in at at levels higher than you sold for.

Bob24

OEP wrote: »

Fair enough but unless you're going to hold your crypto forever, you'll have to pay cgt

Agree, not selling to avoid CGT is a deferral game.

Now, some people might have a strategy to defer forever (with low interest rates, many rich people roll-over loans against their assets rather than selling to defer CGT liabilities indefinitely) or to defer until they are in a friendlier tax jurisdiction. And also even without those strategies, every time time you trigger CGT early you are killing some of you compounding power (irrelevant if you are a short term trader, but important if you are a long term holder).

Dohnjoe

Can't help but notice the similarities between Jan 2017 and now

https://www.livecoinwatch.com/price/Ethereum-ETH - click on "all".

Obviously I am hoping that this is a bastardisation of June 2017 where we are taking a "step up", but we'll have to see which route it takes.

BrandonBay86

Another 1 million sats stacked and thrown into cold storage for 5+ years.

ShaneU

Ugh

bosco12345

What wallet do people reccomend storing your crypto? Have been looking at atomic wallet, is this safe and reliable?

Irish_rat

BrandonBay86 wrote: »

Another 1 million sats stacked and thrown into cold storage for 5+ years.

Nice keep stacking!

Who knows what a satoshi will be worth then

cnocbui

bosco12345 wrote: »

What wallet do people reccomend storing your crypto? Have been looking at atomic wallet, is this safe and reliable?

First name which crypto.

TXPTGR1

Irish_rat wrote: »

Nice keep stacking!

Who knows what a satoshi will be worth then

Probably nothing lol

connie147

bosco12345 wrote: »

What wallet do people reccomend storing your crypto? Have been looking at atomic wallet, is this safe and reliable?

Im interested in this too. Ive just within the last week had my 1st investments in coins. 11 different coint bought through Binance and 1 through Kucoin.

Is that enough info to get a recommendation on what wallet I should get, or do I need to list the exact crypto coins bought?
Any advice appretiated.

Connie

Ryzken

Is it worth throwing 1,000 on BTC and 1,00 on ADA?

seannash

Ryzken wrote: »

Is it worth throwing 1,000 on BTC and 1,00 on ADA?

whats your goal? No one can tell you. if you are happy to double your money then absolutely but if you are looking to retire on your crypto gainz in 2 years probably not

Ryzken

seannash wrote: »

whats your goal? No one can tell you. if you are happy to double your money then absolutely but if you are looking to retire on your crypto gainz in 2 years probably not

I'd like to hold for atleast 4-6 years, If i happily made 50k by the next 2 years i'd be happy, As i'd be throwing 100 in everything 5-6 weeks, But just sticking 1k on each in one go.

steamsey

Plenty of wallets to choose from out there.

Blockchain.com wallet can hold
https://support.blockchain.com/hc/en-us/articles/115005883426-What-currencies-are-supported-in-the-Blockchain-com-Wallet-

Atomic wallet seems to do everything.

Make sure you read up on private keys if you haven't already and take it seriously

MuddyDog

It's safe having 15k euro worth of crypto in Binance and not worrying about private wallets right? If it grows to say 100k euro it'd still be safe to have in there right?

seannash

Ryzken wrote: »

I'd like to hold for atleast 4-6 years, If i happily made 50k by the next 2 years i'd be happy, As i'd be throwing 100 in everything 5-6 weeks, But just sticking 1k on each in one go.

Okay great. So basically youd need both to do 25x their current value to reach your goal. Ideally in the next 2 years but you'd hold for longer. This puts bitcoins value at 1 million per BTC or so and ADA at 20 odd.
Some people believe they'll get there others dont.
Im a stranger on the internet so feck it, do it. No skin off my nose if it doesn't happen and if it does I'll be the mysterious internet stranger who made you 50k.

Also look at staking, slightly less risky way of making money on your investment. Look up autofarm for rates

cnocbui

connie147 wrote: »

Im interested in this too. Ive just within the last week had my 1st investments in coins. 11 different coint bought through Binance and 1 through Kucoin.

Is that enough info to get a recommendation on what wallet I should get, or do I need to list the exact crypto coins bought?
Any advice appretiated.

Connie

You would need to list the specific coins. Electrum is good for bitcoin.

connie147

cnocbui wrote: »

You would need to list the specific coins. Electrum is good for bitcoin.

Thanks for replying. these are the coins i have purchased so far, (spent €2000 total)

CHZ
BNB
IOTA
TRX
VET
THETA
EWT
ADA
ROSE
DOGE
LINK
MATIC
TFUEL

I intend adding BTC to this.

Hopefully one of ye can recommend what is the best wallet to use.

Thanks, Connie.

dav09

MuddyDog wrote: »

It's safe having 15k euro worth of crypto in Binance and not worrying about private wallets right? If it grows to say 100k euro it'd still be safe to have in there right?

Exactly. As the old saying goes not your keys, not your coins. If Binance gets hacked, if they close your account (good customer service so unlikely but has happened on other sites), Binance goes insolvent or someone gains access to your account's 2FA or hacks any API keys you have on there, and a multitude of other "what-ifs" then you lose all your money most likely. Storing them safely on some sort of a hardware wallet/ cold storage is usually the recommended way securely and safely (just don't lose your cold wallet somehow and always back up public/ private keys).

I used Exodus a while back and was quite good for multiple coins but it's not the most secure and has one or two issues around how it stores its keys IMO, but is a good simple solution. A proper hardware wallet is probably the way to go like Ledger Nano X or something (do some research on what suits).

bosco12345

cnocbui wrote: »

First name which crypto.

Zil, ADA, LTC, probably more

el diablo

Exodus.io, Enjin.io (ERC-20 wallet), Atomic wallet, Trust wallet all decent options. Ledger Nano, Trezor and a couple of others are the recommended hardware/cold storage wallets.

Mellor

BrandonBay86 wrote:

Another 1 million sats stacked and thrown into cold storage for 5+ years.

Stacked?

Ryzken wrote: »

I'd like to hold for atleast 4-6 years, If i happily made 50k by the next 2 years i'd be happy, As i'd be throwing 100 in everything 5-6 weeks, But just sticking 1k on each in one go.

You are invest 1k and you'd be happy with 50k?
You missed the boat entirely on that one.

It's an investment, not free money.

MuddyDog wrote: »

It's safe having 15k euro worth of crypto in Binance and not worrying about private wallets right? If it grows to say 100k euro it'd still be safe to have in there right?

The safety of holding on an exchange is how secure that excange is. If you log-on gets hacked it doesn't matter if you have $150 or $150,000 on there.

bosco12345 wrote: »

Zil, ADA, LTC, probably more

If you want to hold Zil in a wallet then pick one that allow staking while you hold it. Such as Atomic Wallet

Grumpypants

Ryzken wrote: »

I'd like to hold for atleast 4-6 years, If i happily made 50k by the next 2 years i'd be happy, As i'd be throwing 100 in everything 5-6 weeks, But just sticking 1k on each in one go.

If you made 50k you would be over the moon. To be honest, if bitcoin goes on another run, and if you have the nerve to hold through the dips, and if you keep adding 1k a year for 2 years. Then you will most likely end up with between 2- 5k.

Irish_rat

MuddyDog wrote: »

It's safe having 15k euro worth of crypto in Binance and not worrying about private wallets right? If it grows to say 100k euro it'd still be safe to have in there right?

You would be off your head to keep that much in an exchange.

Buy a trezor or ledger for a small price to store it safely or use multiple software wallets to spread it out.

Unearthly

52k will be a tough resistance to break. Might be a bit early to break it yet. Consolidation between 50 to 52 would be grand for a few days

cnocbui

If you have a fairly high end Samsung phone, you might want to consider using it's secure folder app and save yourself the cost of buying a Trezor, paricularly with their record for handling sensitive customer data.