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Are we excited yet?

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  • Registered Users Posts: 1,382 ✭✭✭FFVII




  • Registered Users Posts: 20,084 ✭✭✭✭cnocbui


    You don't get the concept of jurisdiction. In the case of all countries trying to extend the hegemony of their taxation to people in foreign countries, even for the US, those laws have no legal legitimacy in said countries and they are unenforceable. Boris didn’t have to pay as the US had no legal way to collect or enforce it in the UK. He only complied with the US tax regime to save them the political embarrassment of the IRS wanting to perhaps arrest a visiting UK PM. No US citizen has to comply if they have emigrated permanently and do not intend to return to the US.

    Concocting laws you can't enforce is almost as stupid as concocting laws that seek to have jurisdiction where they clearly don't, such as that 3 year disposal nonsense.

    A simple 'what if' would show you that the rule is a legal nonsense. Just change it from 3 years to 30 - sell within 30 and you owe. Does that seem legally possible or practical? If you think you have the authority to make it 3 than there's nothing to stop you doing a US and making it 30 or open ended.

    They could do the same for death duties - your estate owes the Irish government death duties, no matter where or when you die.

    Do you not see that all instances of declaring legal jurisdiction over matters in foreign countries is a legal nonsense as only the local laws pertinent to that country have jurisdiction? 'Render unto Caesar..' and all that, was about practicalities of jurisdiction.

    Nothing I have said constitutes tax evasion. Irish laws have no jurisdiction or legal legitimacy in foreign countries so you are evading nothing, unless the legal system in a foreign country specifically recognises that they do, such as cross border taxation arrangements in the EU. You have to, and should, abide by local tax laws, not foreign ones, no matter how much neck they have, be it 3 years or 30.



  • Registered Users Posts: 19,845 ✭✭✭✭Donald Trump



    Yes, you are advocating deliberately not declaring income to the tax authorities where you are obliged to do so.

    Your understanding of these matters is very weak and you'd be better off refraining from proffering "advice". boards.ie used to have some general rules against advising people to do illegal things. I don't know whether that still holds or not.

    If you feel so strongly that you are in the right then why do you pay any tax at all? If you think it is valid to move abroad, cash in your assets within the 3 year limit, then return home, not declare them and all will be grand, then do that with your annual salary on your Ryanair day trip and see how you get on. It has the same legal basis as your "argument". You can tell the revenue that they have no jurisdiction if they come looking for the money 🤣 . You don't get to choose where to draw the line. The line is drawn at 3 years. The is how laws work.

    If you want to legally avoid tax, the rules are relatively straightforward. You just have to abide by them.



  • Registered Users Posts: 20,084 ✭✭✭✭cnocbui


    No I am not and you are deliberately baiting me by misconstruing what I have said, which concerns emigrating permanently.

    "If you think it is valid to move abroad, cash in your assets within the 3 year limit, then return home, not declare them and all will be grand" pure confabulated BS - leave off.

    I am not offering advice to anyone, just arguing a hypothetical. I pay my taxes and all that I owe. If I emigrate to NZ I will do the same in respect of NZ law. I'll leave it there as enough has been said and I'm tired of the deliberate obtuseness and misconstruing.



  • Registered Users Posts: 2,850 ✭✭✭antimatterx


    Lads.......



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  • Registered Users Posts: 17,946 ✭✭✭✭Thargor


    Use the tax thread ffs, nobody wants to read pages of this crap.



  • Registered Users Posts: 19,845 ✭✭✭✭Donald Trump



    Nope. You are just wrong and trying now to obscure that fact with useless noise.

    You can of course advocate that people break the law and then try to escape the consequences by moving somewhere else and never returning if you want. Getting away with it doesn't mean they didn't break the law any more than if they got away with evading tax by funneling money through dodgy Panama accounts.

    Good luck on emigrating to NZ and eventually being shocked when you find out that you will be taxed on any crypto gains 🤣 I already pointed that out to you in an earlier post. If you don't want to take my advice then don't. You'll find out the hard way.

    Just stop talking about stuff you have no idea about.



  • Registered Users Posts: 17,533 ✭✭✭✭fritzelly


    And so it goes on...



  • Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,685 Mod ✭✭✭✭delly


    So is there any traditional pattern for new years and crypto? Things looking good at the moment.



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    I got into crypto in November and the last month was kind of crap but I bought a lot towards the end of the downturn so now feeling quite smug and smart about the whole thing. Hopefully I can be disciplined enough to take profit on the way up so I don't get rekt on the way down but it's a very hard thing to do.



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  • Registered Users Posts: 2,850 ✭✭✭antimatterx




  • Registered Users Posts: 17,533 ✭✭✭✭fritzelly



    If you're expecting a pattern you're looking at it wrong



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    I bought $BASIS, $CVX, $CRO, $LQDR, $CRV, $XBE, $NEWO, $BTRFLY, $TEMPLE, $FLX and #WEBFOUR. Temple is the only real dog so far. I held a load of other stuff lately as well just been rotating.

    Think my main issue is I keep buying ETH stuff that's maybe too rich for me but I'm trying to lock things up and just leave them there so the gas fees should hopefully not be too major. I like the whole Defi Farming angle. Need to get better at hunting down the small caps early and getting airdrops.



  • Registered Users Posts: 17,533 ✭✭✭✭fritzelly



    Some of them look really really dodgy to be investing in - apart from CRO which is safe (well as safe as can be with anything in crypto) I've never heard of the rest


    Chasing small rank 4000+ tokens at 100 decimal price points is a fools game - you may get lucky on 1 and lose all your money on the other 99 you bought

    Stick to the top 100 listed coins



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    Well CRV and CVX are top 100. CRV is the biggest store of liquidity in Defi. CVX owns the largest share of CRV. As a holder of these you get exposure to nearly all top 100 coins cos they pay out bribes in exchange for pool votes.

    The rest are ones that CRV and CVX people tend to be bullish about. Some of them are rather early ofc but they're all in the farming/staking stablecoin yielding kind of space they're not memecoins (other than WebFour). The idea is that hopefully you're depending less on the coins going up being your only strategy as they'll generate a yield in a bear market. Even WebFour is very sensible as memecoins go it pays you out BNB daily so you're not reliant on selling the memecoin.

    BTRFLY has gone from launch to rank 215 in a week. NEWO is its incubator DAO. LQDR is FTM chain equivalent of CRV. FLX, XBE and BASIS are trading platforms built by tradfi people to get you the best yields cross chain. As token holder you collect fees from transactions people make on their exchanges. These haven't launched yet but all have experienced doxxed teams so great upside hopefully.

    I'd consider high risk to be metaverse/gaming crypto, memecoins etc. What I'm doing may seem daft but they're all on very long term stable end of defi. If I had 100 grand I'd just have ETH and BTC but you kind of need to mess about in the lesser chains to build up to that.



  • Registered Users Posts: 17,533 ✭✭✭✭fritzelly



    BTRFLY is rank 2815 (a strange one), that and others are barely a month old, others have had early spikes (pump and dump) - you are in dangerous waters, but it's your money



  • Registered Users Posts: 2,850 ✭✭✭antimatterx


    Wow. A lot in there. My strategy is mainly BTC / ETH. I also buy alts such as DOT, AVAX, LINK with the aim of selling and turning it into BTC / ETH.



  • Registered Users Posts: 17,533 ✭✭✭✭fritzelly


    @Shapey Fiend You should do a tiny bit of research in to DAO's - there is rug pull after rug pull happening with them

    Take my advice or not but get out now...if you can



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    I get where you're coming from but I legit don't think my take is that outrageous. I'm spending a fierce amount of time on twitter and discord researching these. I'd be checking rug doctor and seeing codes been audited and teams kyc'd hopefully prevent disaster. There are no guarantees gonna be some disasters ofc. Being rugged or hacked is potential outcome for any of these protocols no matter who audits them reason you spread your bets.

    I'd like DOT and AVAX not really found time to really learn and work whole Daniel Siesta eco system of coins come up with a strategy just yet. He's v bullish on crv mind you. Link is cool. There's so many L2 chains I'm starting to get overwhelmed trying to guess what the Eth killer is! Stacking eth and stables is my ultimate goal in the next few months.

    Some resources I've been using explain approach better than I'd be able articulate.

    https://theknower.substack.com/p/the-curve-wars-rage-on

    www.twitter.com/smallcapscience



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend





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  • Registered Users Posts: 6,093 ✭✭✭Mister Vain


    Jaysus @Shapey Fiend that's a lot to digest. And you only got into crypto last month? 😲 It took me a month just to figure out how bitcoin works. 🤣



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    There's so much crap to try and get your head around I guess my instinct is just jump into the most confusing **** and work back. So far I've found the more complicated to get my head around it is the better it is. Like there's this ZK Rollup **** I heard about the other week and didn't have time to get into buying yet. It's.. I think.. a chain that just validates transactions on like Ethereum. So it can just do that part quickly with low gas fee. Heard it's blowing up since I listened to a podcast about it (of which I understood about 30%) need to read up stuff like this. https://hackernoon.com/zk-rollups-3-cryptocurrencies-to-explode-in-2022-and-2023

    Also listened to podcast about SCRT (privacy chain?) lately the founder sounded very impressive. Use cases seem fairly blindingly obvious I just don't know what's best of those on the market. Its mooned since I heard about it too haven't had time read up on it either. There's so much crap to research.



  • Registered Users Posts: 420 ✭✭HGVRHKYY


    L2s aren't 'eth killers', they're specifically set up to improve the eth network by helping it scale



  • Registered Users Posts: 193 ✭✭Senor Frog


    I have been looking at investing into Verasity (VRA). I think the Esports/Crypto space has big potential for growth . Does anybody here have any informed thoughts on it ?


    TIA



  • Registered Users Posts: 1,997 ✭✭✭Shapey Fiend


    I'm in the Veracity discord cos I obviously heard it recommended somewhere but I'm damned if I can remember where. Team looks experienced. I was looking at another crypto called MMA that will buy up in game assets in all the different games and rent em out to people. I thinks things that try and make a margin off crypto gaming in general feel safer than game specific tokens to me, cos most of the games are crud or two years off shipping properly.



  • Registered Users Posts: 193 ✭✭Senor Frog


    Ya I think the same , I like that the Verasity reward system is integrated into the YouTube and Twitch video players amongst others . They also seem to have a solid roadmap in place .Do you have a link to join the discord?



  • Registered Users Posts: 523 ✭✭✭Donegal1234


    Bought a bag of kava on kraken. Staking is at 23% APR which is very big for exchange staking.



  • Registered Users Posts: 14,309 ✭✭✭✭wotzgoingon


    Looks like you jinxed it. Most coins have gone down since your post yesterday. 🤣



  • Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,685 Mod ✭✭✭✭delly


    Yeah, thought we were on an upward swing. Unless it's all part of Elon's master plan and I'm part of disinformation network!



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  • Registered Users Posts: 1,140 ✭✭✭deadduck


    looks like it came up a bit short this year, meant to last until (about) Jan 2nd, but let’s see what happens…



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