Is anyone else starting to become a bit excited?

BrandonBay86

EagererBeaver wrote: »

Are you going to announce it every week?

More than likely.

Lex Luthor

Irish_rat wrote: »

What correction? Theta in the top 10

mwah haha ha

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

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

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.

cravings

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?

[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

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.

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?

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.

Unearthly

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

Timmaay

That poster must be onto their 10th lambo by now ha

tcawley29

Timmaay wrote: »

That poster must be onto their 10th lambo by now ha

Oh nice, I'm featured in a screenshot :pac:

yabadabado

olestoepoke wrote: »

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.

What happened with Bilaxy?

I was looking at their site recently and it looked dodgy as **** .

olestoepoke

yabadabado wrote: »

What happened with Bilaxy?

I was looking at their site recently and it looked dodgy as **** .

So I like XED and have been buying the dips the last while to increase my bag, its available on HOO and Bilaxy, Im also buying XGG on bilaxy and I always transfer out immediately to Trust wallet. Bilaxy is a rip off, Ill use hypothetical figures just to illustrate what they did on me with XED recently.

€180 was approx 211 USDT
Buy approx 155 XED with the 211 USDT
Transfer the 155 XED to trust wallet
End up with approx 95 XED
Charged approx 60 XED to (€60) for the transaction fee
Went onto etherscan and the fee was €17

The did the same with XGG they were looking for a scandalous amount of XGG to transfer almost 1/3 of the coins I bought.

Irish_rat

Donegal1234 wrote: »

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

You'd be mad to sell its got strong fundamentals and the moon boys are now joining

Lex Luthor

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?

the only reason I would be going with coinbase is that eventually it will be another option to buy Theta, otherwise stick with Binance

but have at least 2 options for cashing out cos when the euphoria hits they have a tendency to go down when you need them the most

olestoepoke

olestoepoke wrote: »

So I like XED and have been buying the dips the last while to increase my bag, its available on HOO and Bilaxy, Im also buying XGG on bilaxy and I always transfer out immediately to Trust wallet. Bilaxy is a rip off, Ill use hypothetical figures just to illustrate what they did on me with XED recently.

€180 was approx 211 USDT
Buy approx 155 XED with the 211 USDT
Transfer the 155 XED to trust wallet
End up with approx 95 XED
Charged approx 60 XED to (€60) for the transaction fee
Went onto etherscan and the fee was €17

The did the same with XGG they were looking for a scandalous amount of XGG to transfer almost 1/3 of the coins I bought.

Convert it to USDT and withdraw on the Tron network for $1

BrandonBay86

Timmaay wrote: »

That poster must be onto their 10th lambo by now ha

Apparently they are still buying corn and aren’t stopping until 1 BTC = 1 Lambo.

Jeff2

Whelo79 wrote: »

$59,500 to 58,500 is a dive????

Yeah. And your post got 15 thanks.

olestoepoke

Dobbytoes wrote: »

Convert it to USDT and withdraw on the Tron network for $1

Convert what, the XED? I think the problem with Bilaxy is not the already extortionate gas fees but that Bilaxy charge fees on top of that, as I said they charged €60 to transfer and when I checked the transaction on etherscan the fees were €17

makeorbrake

I've not been such a big fan of Elon's twits (the doge nonsense) recently but I can't fault his tweets in the past hour -> https://twitter.com/elonmusk/status/1374617643446063105?s=20


Any revenue received in btc will stay in btc and not be converted into usd/eur, etc. Ability to pay in btc enabled in the US right now - and to be enabled overseas later this year.

Irish_rat

makeorbrake wrote: »

I've not been such a big fan of Elon's twits (the doge nonsense) recently but I can't fault his tweets in the past hour -> https://twitter.com/elonmusk/status/1374617643446063105?s=20


Any revenue received in btc will stay in btc and not be converted into usd/eur, etc. Ability to pay in btc enabled in the US right now - and to be enabled overseas later this year.

How does this work when it comes to tax!

Also the NFT market is starting to take off big time.

When you read it in the Irish mirror say no more

Lorne Malvo

Guys is it safe to leave large deposits of fiat on an online exchange like Gemini for weeks at a time? Safe as any bank? Many thanks

Dades

Lorne Malvo wrote: »

Safe as any bank?

Definitely not.

I wouldn't leave anything in an exchange I couldn't afford to lose and walk away from. I get it might be useful to have cash on the exchange if you wanted to pull the trigger on something immediately, though with the market at the moment surely there's a better option than to keep it in fiat...

pioneerpro

Lorne Malvo wrote: »

Guys is it safe to leave large deposits of fiat on an online exchange like Gemini for weeks at a time? Safe as any bank? Many thanks

Safe? Can't comment on Gemini but it's definitely not best practice to leave anything on an exchange.

Safe as a bank? Hell no - no Deposit Guarantee Scheme for starers.

That said I've left 4 figures on Kraken for extended periods of time and I couldn't fault their security. But never advisable to leave jack **** on an exchange from a best practice POV.

bfa1509

makeorbrake wrote: »

I've not been such a big fan of Elon's twits (the doge nonsense) recently but I can't fault his tweets in the past hour -> https://twitter.com/elonmusk/status/1374617643446063105?s=20


Any revenue received in btc will stay in btc and not be converted into usd/eur, etc. Ability to pay in btc enabled in the US right now - and to be enabled overseas later this year.

I think his big mouth is the biggest threat to cryptocurrency at the moment. It's one of the few things I hate about crypto - his influence on it.

Lorne Malvo

pioneerpro wrote: »

Safe? Can't comment on Gemini but it's definitely not best practice to leave anything on an exchange.

Safe as a bank? Hell no - no Deposit Guarantee Scheme for starers.

That said I've left 4 figures on Kraken for extended periods of time and I couldn't fault their security. But never advisable to leave jack **** on an exchange from a best practice POV.

It's just on anticipating a dump in the market, I want to be ready; otherwise I would have to wait for the wire transfer to go through before I could buy. Surely it can't be that bad. They have a massive reputation to upkeep...

Thargor

Sluggish price action tonight. Wonder if it is those options expiring on Friday and how much damage they can do.

Sierra Oscar

ETH is getting hammered tonight.

bfa1509

Sierra Oscar wrote: »

ETH is getting hammered tonight.

Just a pod of whales slurping up the krill. It'll bounce back in no time.

Sierra Oscar

bfa1509 wrote: »

Just a pod of whales slurping up the krill. It'll bounce back in no time.

Indeed, already recovering somewhat and still nowhere close to the fall at the start of the month.

Jeff2

Sierra Oscar wrote: »

ETH is getting hammered tonight.

It's volatile so so catch the bottom like now and you're onto a good thing.

BrandonBay86

Thargor wrote: »

Sluggish price action tonight. Wonder if it is those options expiring on Friday and how much damage they can do.

100% this causing it. Watch us pump in a weeks time.

Bought this mini dip.

makeorbrake

Lorne Malvo wrote: »

It's just on anticipating a dump in the market, I want to be ready; otherwise I would have to wait for the wire transfer to go through before I could buy. Surely it can't be that bad. They have a massive reputation to upkeep...

Out of interest, what's your methodology for 'anticipating a dump'? Gemini are a very professional outfit from what I can see. But that's not the point. Things only have to go wrong once - and your funds are gone. That's it in a nutshell.

You could buy some USDC if you wanted and have that ready to go - but custody it yourself.

Lorne Malvo

makeorbrake wrote: »

Out of interest, what's your methodology for 'anticipating a dump'? Gemini are a very professional outfit from what I can see. But that's not the point. Things only have to go wrong once - and your funds are gone. That's it in a nutshell.

You could buy some USDC if you wanted and have that ready to go - but custody it yourself.

Sorry I'm new to this so I don't really follow your jargon. I've researched and haven't found any stories of fiat disappearing off the exchange to date...

el diablo

Lorne Malvo wrote: »

Sorry I'm new to this so I don't really follow your jargon. I've researched and haven't found any stories of fiat disappearing off the exchange to date...

Go for it if you feel it's safe. Gemini is one of the more reputable exchanges. But as mentioned above, a stable coin might be a better option.

Lorne Malvo

el diablo wrote: »

Go for it if you feel it's safe. Gemini is one of the more reputable exchanges. But as mentioned above, a stable coin might be a better option.

Can that be bought on an exchange suchlike Gemini and stored in a wallet? Thanks

el diablo

Lorne Malvo wrote: »

Can that be bought on an exchange suchlike Gemini and stored in a wallet? Thanks

Yes, they can be bought on an exchange and keys stored in a wallet. I think most of the stable coins (USDT, GUSD (Gemini USD) etc) are ERC-20 tokens so the fees for moving funds will be high right now.

Mellor

makeorbrake wrote: »

Any revenue received in btc will stay in btc and not be converted into usd/eur, etc.

What does staying in BTC have to do with anything?
I couldn’t care what Elon does with his revenue tbh.

EagererBeaver

Mellor wrote: »

What does staying in BTC have to do with anything?
I couldn’t care what Elon does with his revenue tbh.

I guess the intention is to highlight increasing mainstream adoption of BTC in general and faith in its ability to stay stable or appreciate further vs USD.

Mellor

EagererBeaver wrote: »

I guess the intention is to highlight increasing mainstream adoption of BTC in general and faith in its ability to stay stable or appreciate further vs USD.

I fully get the idea of increasing awareness of BTC as a means of purchasing high value items.
But Tesla has a $30b revenue. I don’t think a tiny portion in BTC shows amazing faith in its stability.
They could hold a fraction in unopened packets of tayto, and they’d swing alright out if it.

EagererBeaver

Mellor wrote: »

I fully get the idea of increasing awareness of BTC as a means of purchasing high value items.
But Tesla has a $30b revenue. I don’t think a tiny portion in BTC shows amazing faith in its stability.
They could hold a fraction in unopened packets of tayto, and they’d swing alright out if it.

Oh absolutely, and you understand that, but how many Joe Soaps do reckon think beyond "****ing hell, Tesla are huge and they take bitcoin! Elon's a genius and he loves bitcoin!"?

Dades

How does that even work - buying a Tesla with BTC.

My neighbour is told he'll be waiting a year.
Does he pay (eg) 1 BTC now, or 1 BTC (possibly worth a lot more/less) in 12 months?

Or does he pay 50k worth of BTC now, or 50k worth in a year?
In which case - what's the point of charging in BTC at all other than marketing?

You'd have to assume the price of the car doesn't fluctuate as wildly as the currency.

BrandonBay86

Dades wrote: »

How does that even work - buying a Tesla with BTC.

My neighbour is told he'll be waiting a year.
Does he pay (eg) 1 BTC now, or 1 BTC (possibly worth a lot more/less) in 12 months?

Or does he pay 50k worth of BTC now, or 50k worth in a year?
In which case - what's the point of charging in BTC at all other than marketing?

You'd have to assume the price of the car doesn't fluctuate as wildly as the currency.

$100 deposit. Pay just prior to collection.

If I wanted a Tesla now, I’d keep my Bitcoin. But buy another 1 BTC to give to Tesla for my car. 1 less BTC available for others to buy if Elon is going to hodl.

BrandonBay86

Another 450,000 Satoshis are mine at $50,600. Foresee a dip to 48k maybe. Can’t see us going much lower.

Once options expire tomorrow we’ll begin to pump again.

ShaneU

cnocbui

BrandonBay86 wrote: »

$100 deposit. Pay just prior to collection.

If I wanted a Tesla now, I’d keep my Bitcoin. But buy another 1 BTC to give to Tesla for my car. 1 less BTC available for others to buy if Elon is going to hodl.

I presume you would be going through the buying and spending of that bitcoin just for the fun aspect and to contribute to the positive vibe and data, which of course wouldn't hurt your wallet? :cool:

Unearthly

The alts bleed hard during minor btc drops

Going to set some ambitious buy limits on alts incase btc drops to 48k.

Mellor

BrandonBay86 wrote: »

Another 450,000 Satoshis are mine at $50,600. Foresee a dip to 48k maybe. Can’t see us going much lower.

It was 43k a month ago. I don’t think a 30 day price return is ever out of the question.