Are we excited yet?

10-05-2021 10:12pm

If you believe bitcoin will hit 200k etc etc. you've nothing to worry about

Brian201888 · 10-05-2021 10:15pm

Anyone had any interest in Dfinity's ICP that launched today?

harmless · 10-05-2021 10:17pm

ConseyMan wrote: »

Ugghhh, January 2018 flash backs..................

Me too, so I sold 40% of my ETH at $4,145 price point today. If I'm right I will buy back in at a lower price, if I'm wrong I still made a decent amount of profit.

ConseyMan · 10-05-2021 10:25pm

I've mentioned it before
But if you go to the ethereum thread it begins in December 2017, and you can read everyones reaction, Bitcoins crash, a dead cat bounce while Ethereum goes to ATH. Then everything crashes. It's quite a read knowing what we know now.
And if you go to the original 'is anyone else getting excited, that starts in 2019 at the bottom of the market, and there are a number of lads who spot it.

seannash · 10-05-2021 11:58pm

ConseyMan wrote: »

I've mentioned it before
But if you go to the ethereum thread it begins in December 2017, and you can read everyones reaction, Bitcoins crash, a dead cat bounce while Ethereum goes to ATH. Then everything crashes. It's quite a read knowing what we know now.
And if you go to the original 'is anyone else getting excited, that starts in 2019 at the bottom of the market, and there are a number of lads who spot it.

Im more interested in knowing if bitcoin was being moved off exchanges back then. For me thats the most telling sign. According to reports the amount of bitcoin on exchanges is dropping by the day which should give confidence that it cant keep dropping for too long. Not long ago it dropped to 43k amd there wasn't any talk of the run being over. Not sure what has changed since then.

massdebater · 11-05-2021 12:06am

Curious what's been plummeting for you guys? My crypto portfolio is down 1.3% today and I have most of the large cap ones, even my smaller holdings are only down max 7/8% for the day, some are up. Not sure what the fear is about?

BrandonBay86 · 11-05-2021 12:07am

Mark Zuckerburg just posted a photo on Facebook of his goats which are named named Bitcoin and Max.

ConseyMan · 11-05-2021 12:54am

Thats FUD, he's clearly shilling Goatcoin, or is it Safegoat, no moongoat. O was it goatmoon. One of them anyway. He wants host SNL too.

Jeff2 · 11-05-2021 1:06am

I think I'm near a buy point now.

XLM steller "am I bothered".

Graham · 11-05-2021 1:16am

massdebater wrote: »

Curious what's been plummeting for you guys? My crypto portfolio is down 1.3% today and I have most of the large cap ones, even my smaller holdings are only down max 7/8% for the day, some are up. Not sure what the fear is about?

I don't think it's fear but it might be opportunity.

I still reckon we haven't seen the bottom of this correction yet. That's not something to fear, it's something to be prepared for.

That doesn't mean there's no profits to be made in the mean time, but taking profits and setting stop losses might be prudent.

Jeff2 · 11-05-2021 1:29am

I think it's the opposite to pump and dump.

I think there will be a buy back.

Dump then other people sell then you buy back lower.

Jeff2 · 11-05-2021 2:10am

All Taking a dive now.

That some crash.

harmless · 11-05-2021 2:11am

I feel like this would be much easier to put a solid buy/sell strategy in place if it wasn't for the large gas fees.

harmless · 11-05-2021 2:14am

Jeff2 wrote: »

All Taking a dive now.

I'm out at 50% of my ETH gone, very happy with how much I got for it.
I'm now back at a point where it's fun to watch what I have go up and down.

I was above what I was comfortable to lose.
I'll also keep an eye out to see if I can get the ETH back at discount.

Jeff2 · 11-05-2021 2:19am

harmless wrote: »

I'm out at 50% of my ETH gone, very happy with how much I got for it.
I'm now back at a point where it's fun to watch what I have go up and down.

I was above what I was comfortable to lose.
I'll also keep an eye out to see if I can get the ETH back at discount.

Yeah a good to look out to buy.

But some crash for others.
That's how it goes I guess.

Waiting to buy.

harmless · 11-05-2021 2:22am

Jeff2 wrote: »

Yeah a good to look out to buy.

But some crash for others.
That's how it goes I guess.

Waiting to buy.

If it continues to rise at least I make some more off of what I still hold.
I'm just trying to minimise risk. (not that initial my investment was much)

Jeff2 · 11-05-2021 2:59am

[url] https://finance.yahoo.com/cryptocurrencies/[/url]
Near all red as wear the markets and gold.

11-05-2021 9:15am

massdebater wrote: »

Curious what's been plummeting for you guys? My crypto portfolio is down 1.3% today and I have most of the large cap ones, even my smaller holdings are only down max 7/8% for the day, some are up. Not sure what the fear is about?

VET and MATIC are fairly prominent in my own PF. Both of them took a dive yesterday evening for a spell. I wasn't the slightest bit fearful though, just another day in crypto paradise.

Rob2D · 11-05-2021 9:20am

Anyone hold onto their FEG?? I sold at previous ATH and went to buy back in after the weekend dip, but apparently FEG didn't get the memo! Been pumping since Friday apprently.

My coins would have been worth a quarter million this morning if I had held on to them. Oh well! :pac:

ShaneU · 11-05-2021 9:28am

Doge just jumping up 20% in ten minutes, totally normal.

Rob2D · 11-05-2021 9:39am

ShaneU wrote: »

Doge just jumping up 20% in ten minutes, totally normal.

I wish I was dumb enough to be able to time the Doge market correctly.

cc87 · 11-05-2021 9:50am

ShaneU wrote: »

Doge just jumping up 20% in ten minutes, totally normal.

Elon tweeted about Tesla accepting it.

ShaneU · 11-05-2021 9:58am

cc87 wrote: »

Elon tweeted about Tesla accepting it.

well that explains it

https://twitter.com/elonmusk/status/1392030108274159619

Chris_5339762 · 11-05-2021 10:30am

22hrs left on that poll, worth a punt of a few hundred euro in 22 hours! If the results are YES (which they will be) its off to the moon.

mossy95 · 11-05-2021 11:08am

Has anybody heard of this loophole that makes it possible to not pay CGT on Crypto? Saw this on reddit.

Don't sell; spend P2P. OR: deposit in a service like NEXO/BLOCKFI, take an EUR loan with your crypto as collateral (they send you EUR to your bank via IBAN transfer), then instantly press to pay back the loan (with your crypto equivalent of what you borrowed + minuscule %) and withdraw your crypto back to your wallet.

"Selling" implies paying capital gains, but taking a loan and repaying it doesn't.

Bob24 · 11-05-2021 11:12am

Rob2D wrote: »

I wish I was dumb enough to be able to time the Doge market correctly.

Isn't Shiba Inu now barking louder than Dogecoin?

I can't keep track :-)

Bob24 · 11-05-2021 11:17am

mossy95 wrote: »

Has anybody heard of this loophole that makes it possible to not pay CGT on Crypto? Saw this on reddit.

The first one is clearly incorrect. If you "spend P2P" you are disposing of your holdings and CGT is due.

The explanation of the second one is bit convoluted, but if I get it right it is saying: borrow euros and instantly pay back the loan with the crypto equivalent amount. In that case it is the same thing: when you are sending your crypto to the lending service to pay back your loan you are disposing of that crypto and thus CGT is due.

In short: what triggers CGT is not just *selling* an asset, it is more generally *disposing of* an asset (which includes selling but also transferring the asset to a third party).

Chris_5339762 · 11-05-2021 11:49am

What you exchange crypto for ANYTHING, another crypto, fiat money, a weird loan, ANYTHING, it is CGT liable.

I'm only new to this game and I understand that any profit I take, in any way, is CGT liable under the usual rules.

HGVRHKYY · 11-05-2021 1:52pm

Chris_5339762 wrote: »

What you exchange crypto for ANYTHING, another crypto, fiat money, a weird loan, ANYTHING, it is CGT liable.

I'm only new to this game and I understand that any profit I take, in any way, is CGT liable under the usual rules.

I can't see why you'd be liable for CGT if you simply use your crypto as collateral for a loan where you get your full crypto back after all repayments have been made

Bob24 · 11-05-2021 2:00pm

HGVRHKYY wrote: »

I can't see why you'd be liable for CGT if you simply use your crypto as collateral for a loan where you get your full crypto back after all repayments have been made

Yes if the crypto is just used as a collateral, there is no CGT due because it is not being disposed of (if it comes to a point whereby the lender has to liquidate the collateral because of missed payments or a margin call which wasn't met though, then CGT is due because it becomes a disposal).

Using existing assets as loan collaterals is actually common practise amongst wealthy people to release equity from those assets without triggering CGT (of course this is more deferral than avoidance and CGT is still be due one day or another when assets are being disposed of).

However the post from @mossy95 was referring to using crypto to pay back a loan. In that case the crypto is being disposed of and CGT is due.

Are we excited yet?

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