Reply With QuoteETH doesn't appear to be having the best of times.... my understanding was, that it was once considered as the threat to BitCoin in terms of support and longevity...
Thanks for the information.Originally Posted by Geoff W
I will only be buying a few hundred pounds worth which i can use on vpn subscriptions and the rest can be for fun.
ETH doesn't appear to be having the best of times.... my understanding was, that it was once considered as the threat to BitCoin in terms of support and longevity...
It's the race to zero.
Cheers,
Neil.
A decline in ICO performance will impact ETH as people aren't buying to participate in ICO's via smartcontracts. Also some of the ICO's that raised a lot of funding 6 months ago are now cashing out via ETH.
After learning a lot in the last 10 months and owning many "Alt" coins and going from 2300% up to well, zero profit, I'm now mostly bullish on BTC and BNB (Binance coin) which behaves like a hedge for BTC.
If you're new and tempted, only risk what you're willing to lose and remember that the upside is far greater than the down, but you could genuinely be left with nothing.
Today’s news:
https://www.independent.co.uk/life-s...-a8491001.html
When in trouble, double.
Someone who lies about the little things will lie about the big things too.
When it was all kicking off in November last year I had a few colleagues who put significant sums of money into bitcoin and ripple. I also had friends who bought in early about could have cashed out in December for £85k but decided to hold. Personally I only put £350 in. Now worth about £200. If I need that money I'll pull it out, but it's not enough money that I'll cry about my losses.
Well right now it’s interesting! There’s winner and losers depending where you purchased but buying right now could be a good gamble if you have a spare few quid! Grabbing a few ETH for £500-£600 will be worthwhile if it doubles, trebles, or quadruples in the next few months or a year. If not you’ve lost a few quid that you probably would have eaten or drank and not batted an eyelid over
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RIAC
That sounds exactly like trying to talk the price up, frankly.
Too many ‘ifs’ and ‘coulds’!
Yes of course it would be worthwhile, if it doubles, triples or quadruples, but what possible evidence is there for that? Sticking it all on black has a potentially similar outcome.
I take the odds of sticking it all on black every day of the week over being long Bitcoin or any other 'crypto'.
Someone who lies about the little things will lie about the big things too.
Interesting. Personally I’d rather go short on Bitcoin speculation and long on pints.
The 5 I brought for £600 each and sold for £8700 each made me smile. Then I watched it goto £10k and still
Smiled just with a little
Lip curl. Now I just leave spare change in there and I’ll Check it when I next need a car or happy meal depending how it fairs
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Last edited by 100thmonkey; 16th August 2018 at 23:58.
RIAC
Those days are gone.
Frankly I believe many people are beginning to realise that there is nothing there, hence the sell offs, even it seems by you.
Are you going to dive back into the market in its present parlous state to remake your fortune or as you say only risk your spare change?
Cheers,
Neil.
Ill continue to drop a few quid in as and when it feels right, I sold because I couldn’t believe that my £3000 was showing as £43500 and I wanted a new car!Those days are gone.
Frankly I believe many people are beginning to realise that there is nothing there, hence the sell offs, even it seems by you.
Are you going to dive back into the market in its present parlous state to remake your fortune or as you say only risk your spare change?
Remember if you adopt the approach that you only out in what you are prepared to lose then it never breaks your heart if it doesn’t work out for you. The current system has been around t long and we all know how badly the banks treat us so its time for a change and to advance and maybe just maybe this is the answer.
As I have always maintained when Ron Wayne sold his Apple shares he thought it wasn’t worth it, when a mate of mine left Motorola the largest mobile provider at the time to join a ‘Apple Phone Experiment’ everyone laughed at him too.
RIAC
Well done, great result, but this surely just reinforces that Bitcoin is seen as a ‘thing’ by the vast majority of people and not a legitimate currency, it’s bought then hopefully sold and converted to a ‘real’ currency. That’s when you consider you have made ( or lost ) real money. I think the original point, if it ever was, of it being a alternative currency has been lost. It’s always being valued against relatively stable real world currency.
The use of bitcoins to purchase goods is growing at a rapid pace and so the buying and selling is half the story.
You either love or hate. No ones asking you to put your money in or forcing you so if it’s not for you then stick to folding papers and the satisfaction that you’re making someone in banking very rich
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RIAC
Just an observation really but the 2 things most folk want from their "currency" are a relatively stable value and the ability to pay their taxes with it, maybe bitcoin et al will get there one day, probably imo not, just saying.
That said good luck to those willing to speculate.
Why would I expect the value of a "currency" to rise just because I can buy a Mars bar with it? I just don't get it, why would bitcoin appreciate just because people would use it? Completely bonkers. And by the way, banks don't give a flying fart if you use crypto or not. If there was money in it, they would be the first to explore it.
Just like in 1998/99, when anybody who had earned a few thousand bucks from owning CMGI thought they could explain the bright .com-future to everybody else. Didn't work then, won't work now.
Sell as long as somebody is prepared to give you something for it. Because it's inherently worthless.
Someone who lies about the little things will lie about the big things too.
Similar to one of my colleagues. He sold his bitcoins earlier in the year and bought a BMW M3 with his profits.
An old work colleague bought a house!
It’s probably unlikely that we will see the crazy increases of the past, but there is enough volatility in the market to dip in and out and make some money. Or just hold a small amount just to see.
It's just a matter of time...
Someone who lies about the little things will lie about the big things too.
Although why would you pay for something with it that you can also pay for in another currency if you think your BTC holding will increase in value and your regular currency won’t ?
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Gresham's Law in action?
PS IANAE (or financier).
That was interesting, thanks for posting, Ive never thought of that before, makes sense.
Cheers..
Jase
Last edited by -Ally-; 26th August 2018 at 17:58.
Good read. Sums up the last year well. There’s winners and losers just really depends where you brought in and it will
Come of age in some form as the writings on the wall plus all these things have a funny way of coming right in the end.
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RIAC
For an extensive and highly readable discussion of this, and many other aspects of the subject, I would thoroughly recommend JK Galbraith's excellent book Money: Whence it Came, Where it Went
Nathaniel Popper was one of the first serious journalists to start chronicling bitcoin and cryptocurrencies in general. His articles for The New York Times are always good value.
He has also written an award winning book documenting the central characters and events from the early days of bitcoin - Digital Gold: The Untold Story of Bitcoin. Another good read.
Will it come of age?
Is anything really there?
Personally I think there are plenty of ways of moving money around nowadays without pie in the sky ideas that have not proven themselves and have in the meantime bankrupted people.
Cheers,
Neil.
You just never know. We used all sorts for currency over the years before settling on folding papers and metal coins but that was perfect for a pre cyber age. That currency method has been adapted but is still tedious. Try paying in cash in large amounts to banks and see how long it takes to count or the wait time with transfers between banks etc.
I’m not saying it’s The future but it’s a highly likely at some stage.
On a separate note I find Decentraland an interesting thing too. Watch this space
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RIAC
XRP mooning. Are the bulls back in crypto town! All coins back in the green.
Has the bear market finally ended?
That’s a crypto-post.........
Did you use blockchain (whatever that is)?
LOLZ.
Last week, XRP was down 90% since beginning of the year. After it has doubled in the last couple of days, it's still down 80% YTD. Dead cat bounce.
Someone who lies about the little things will lie about the big things too.
Those sudden spikes were as a result of a couple of banks testing the X rapid system which will go live I think next month. When it does go live properly the price will continue to gain. The banks havent tested over the weekend this is why the price has not really moved since. If there is more testing next week you will see more sharp rises, a large number of banks have signed up to this so I guess they will all start testing now. That's my take on it.
What a nonsense. Why would the value of a token, which is used as a temporary medium in a process (it's first "bought", then "sold") go up as a result of this process being adopted?
Someone who lies about the little things will lie about the big things too.
Maybe I explain it badly, there is more detailed information here https://ambcrypto.com/xrp-surges-by-...rapid-testing/
Exactly what I said: first the equivalent amount of the transfer is bought and then sold. Net turnover: zero. Why would XRP appreciate other then for the hype of "investors" who have no clue what they are doing?There, the $100 million is exchanged for XRP at market price and then sent on the XRP Ledger to a wallet belonging to an exchange on the receiver’s end. XRP is sold for $100 million and then sent on local payment rails to the receiver.
What goes up will come down.
Someone who lies about the little things will lie about the big things too.
OK, I bow to your superior knowledge and that XRP will not climb again next week. I will take your advise and sell today and take the profit and look elsewhere.
I am not saying that XRP won't rise next week. I am just saying there is no reason for it to rise, other than speculators betting on something they don't understand. Some of the most powerful bubbles in the history of finance were based on herd-buying worthless assets because other people told them so, beginning from tulips over dotcom stocks to CDOs.
Good luck with your "investment".
https://www.investopedia.com/terms/h/herdinstinct.asp
Someone who lies about the little things will lie about the big things too.
Too late, I took your advise and cashed out, I didn't have a clue what I was doing so best get out while ahead. I will try and resist the urge to look at the price during the week, but if your right it was going nowhere. I'm going to put it into a Rolex instead.
Good for you that you sold your XRP. After all, they are some 25% lower today than on Sunday. Congratulations!Too late, I took your advise and cashed out, I didn't have a clue what I was doing so best get out while ahead. I will try and resist the urge to look at the price during the week, but if your right it was going nowhere. I'm going to put it into a Rolex instead.
Someone who lies about the little things will lie about the big things too.
Yes thanks a mil, I got out at the right timeGood for you that you sold your XRP. After all, they are some 25% lower today than on Sunday. Congratulations!
Hello all, as usual I am late to the party. I have read through various threads about Bitcoin and all the other Cryptocurrencies and would like to know what the tax position is when cashing out. I assume that some people are investing/speculating on a professional basis,. IE its what they do for a living so I presume the money goes through a company account. And also individuals just having a "dabble" in the market. But how would you stand with the Taxman if you did what a couple of recent posters have and cashed out healthy profits. From recent threads it seems that enough money was made to buy a new car and someone else hinted that a colleague had purchased a house with their profits.
I am self employed but am not limited but a sole trader, so when my accountant looks at my yearly accounts he would certainly question any cash transfers into my account, private or company. So any insight into how you stand tax wise would be appreciated
For non-business, you would need to pay capital gains tax on profits, subject to exceeding your CGT tax free allowance. This occurs whether converting back to regular currency or buying a different coin.
Thanks for the swift reply. I guessed it was something like that but was not 100% sure
Correct, there is no case law as yet but hmrc have said the tax rules are the same as shares ie the pooling/matching rules
Not sure case law is required.
I'd be surprised if any court would say that crypto currencies should be treated differently from a traditional currency.
Certainly I think this is something of a try-on:
https://www.express.co.uk/finance/ci...g-bet-winnings
I spoke to my accountant. He researched and came back stating treat as currency.
Exactly! Hope you didn’t pay too much for that advice!
It's Hublot time - https://cointelegraph.com/news/luxur...r-bitcoin-only
What a joke - they are not sold against bitcoin.
The price is fixed in dollars and the publicity stunt is that they only accept payment in bitcoin, but how many bitcoins you have to pay depends on the exchange rate. That is the exact opposite of pricing an item in bitcoin, which will never happen.
Someone who lies about the little things will lie about the big things too.
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