Crypto Currency Thread (Vol.2)
Discussion
PH4555 said:
moonigan said:
LOL. Made my first ever Crypto purchase 2 days ago 1400 VET @ $0.17 and topped up with another 700 when it hit $0.21. I'd like to say I did some research, but it was a pure punt after reading your post. I've been following this and the previous thread from the start and have nearly jumped in a couple of times. Thanks for the kick!
Christ! Don't listen to me, I've been saying ETH is going to zero for the past couple of months 
. Even Dogecoin has more use than ETH right now .I bought 1000VET last week and just taken original stake to get some pickled onion monster munch for the trip to the moon 
Question on CGT though, if I've started selling into GBP does this mean I've not got upto the limit until I need to declare it? (I pay full rate on income tax already).
Question on CGT though, if I've started selling into GBP does this mean I've not got upto the limit until I need to declare it? (I pay full rate on income tax already).
fourstardan said:
Question on CGT though, if I've started selling into GBP does this mean I've not got upto the limit until I need to declare it? (I pay full rate on income tax already).
Every trade you do, i.e. GBP to VET and every pair swap you do (e.g. VET to USDC etc) count as a CGT event so you need to keep careful records of amounts and dates. Everyone has a CGT personal allowance (£12,300 again this tax year) which is the amount of profit you are allowed to make before you need to report the gain on your annual tax return and potentially pay tax.Here is the link for full details - https://www.gov.uk/government/publications/tax-on-...
x5x3 said:
Every trade you do, i.e. GBP to VET and every pair swap you do (e.g. VET to USDC etc) count as a CGT event so you need to keep careful records of amounts and dates. Everyone has a CGT personal allowance (£12,300 again this tax year) which is the amount of profit you are allowed to make before you need to report the gain on your annual tax return and potentially pay tax.
Here is the link for full details - https://www.gov.uk/government/publications/tax-on-...
Thanks...if I make 12k I'll be satisfied lolHere is the link for full details - https://www.gov.uk/government/publications/tax-on-...
fourstardan said:
Greshamst said:
Whoever tipped SIA earlier in the week... thanks 
Does seem like a good option, probably too late now.I sold some more DASH last night and put a little into Filecoin. QTUM is still doing well - i may get some more if it dips.
jammy-git said:
g4ry13 said:
jammy-git said:
The Spruce Goose said:
1k GDP of Doge bought at Xmas 2020 is worth 130k now... less than 4 months that must be a record.
Will it ever hit $1? Or $10? Or $100....$10 DOGE = $1 trillion market cap. The same as what Bitcoin is sitting at currently.
I would say that it's very fanciful thinking that it will even get to $10. Maybe i'm very wrong but I feel common sense would kick in at some point.
It's basic supply and demand economics.
When the supply of coins is increasing, the price of the coin should go down to meet it. As a result, you need demand (buying) to be greater than the effects of the increasing supply just to maintain the price level.
When there is a large market cap, it will require more money to move the market (either up or down). Whereas a market which is much smaller in size can be easier to move around.
One of the issues with DOGE is that there is a large supply of them and they are growing at an unpredictable rate. It's going to take a lot of money in future to maintain price at silly levels.
DeanR32 said:
For you guys using Binance, I'm finding it complicated to pull my peanuts out of a market. Would I be better to trade coins for BNB to move money around, then trade it back into another coin?
I've only been doing this for a couple of weeks, but I trade my coins for USDT (Tether), and then buy new coins with that.DOT 
Glad I bought a few extra over the week. This is the time when I look at a giant spike and think I could sell and buy back lower. In the past i've messed up doing it and maybe it's easier to hold.
I'm still staking all of my DOT so getting something in return for holding through the volatility.
Litecoin is getting close to pre-Charlie Lee dump levels.
Glad I bought a few extra over the week. This is the time when I look at a giant spike and think I could sell and buy back lower. In the past i've messed up doing it and maybe it's easier to hold.
I'm still staking all of my DOT so getting something in return for holding through the volatility.
Litecoin is getting close to pre-Charlie Lee dump levels.
g4ry13 said:
jammy-git said:
g4ry13 said:
jammy-git said:
The Spruce Goose said:
1k GDP of Doge bought at Xmas 2020 is worth 130k now... less than 4 months that must be a record.
Will it ever hit $1? Or $10? Or $100....$10 DOGE = $1 trillion market cap. The same as what Bitcoin is sitting at currently.
I would say that it's very fanciful thinking that it will even get to $10. Maybe i'm very wrong but I feel common sense would kick in at some point.
It's basic supply and demand economics.
When the supply of coins is increasing, the price of the coin should go down to meet it. As a result, you need demand (buying) to be greater than the effects of the increasing supply just to maintain the price level.
When there is a large market cap, it will require more money to move the market (either up or down). Whereas a market which is much smaller in size can be easier to move around.
One of the issues with DOGE is that there is a large supply of them and they are growing at an unpredictable rate. It's going to take a lot of money in future to maintain price at silly levels.
With the stock market, the market cap is (or used to be) a reasonable representation of the company value - it's profits, prospects, assets, employees, etc. With most of the crypto coins, they are essentially valueless, they serve very little function and have no use case. They have value ONLY because someone is willing to pay X amount for them, in the hope that they will rise in value in the future.
This means the market cap of crypto is a function of the last sale price. You say that when a market cap is large it takes more to move the price, but that's the tail wagging the dog.
To go back to the original point, the market cap has no effect on limiting the price increase or decrease of a coin. If more and more people start to think a $1 DOGE is possible they'll be willing to pay $0.7 for them. If enough people think $10 is possible, they'll be wiling to pay $7. The value of any crypto is driven entirely by sentiment, and it will be until there is an actual real world use for any of them.
What’s the score with these Discord “pump” groups?
“Next pump announced 9pm GMT April 21st”
Tell people one thing to boost the coin having already stocked up on it previously?
e.g. https://discord.gg/S4N2xjJc67
“Next pump announced 9pm GMT April 21st”
Tell people one thing to boost the coin having already stocked up on it previously?
e.g. https://discord.gg/S4N2xjJc67
essayer said:
What’s the score with these Discord “pump” groups?
“Next pump announced 9pm GMT April 21st”
Tell people one thing to boost the coin having already stocked up on it previously?
e.g. https://discord.gg/S4N2xjJc67
It's been going on since the dawn of time. Hence why you don't buy big green dildos (candles) on the trading view unless you enjoy losing all your money. “Next pump announced 9pm GMT April 21st”
Tell people one thing to boost the coin having already stocked up on it previously?
e.g. https://discord.gg/S4N2xjJc67
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