Bitcoin and the crypto currency world - what do you think?

[Shuvi McTupya]

g4ry13 said:

Check out the crypto currency thread. Some of us on there are a little more optimistic about XRP.

The other crypto threads don't look active , are you talking about the thread that hadn't been posted in for 6 months?

ETA: oops scratch that, I found it

Edited by Shuvi McTupya on Thursday 21st December 18:09

[limpsfield]

30% down in the last week and a half. Will be interesting to see the post Xmas trading. Just judging by PH, lots of “just take my money” punters nursing some chunky losses.

[hyperblue]

Glad I closed my BTC and Ethereum positions on eToro earlier this week. Held onto some XRP but only a small amount.

A lot of recent “investors” are going to be hurting this morning!

[rossub]

hyperblue said:

Glad I closed my BTC and Ethereum positions on eToro earlier this week. Held onto some XRP but only a small amount.

A lot of recent “investors” are going to be hurting this morning!

Once the general public starts investing, it’s always too late.

[limpsfield]

If you are on Twitter this guy is well worth a follow.

“Show me on the chart where the blockchain touched you”

https://twitter.com/rampcapitalllc/status/94424359...

[ReaperCushions]

rossub said:

Once the general public starts investing, it’s always too late.

Agree, as has been proven once again.

The number of times I heard about it on Facebook / friends / family etc... you know its time to get out.

[rossub]

I never got in, but I specifically didn’t get in over the last month or so despite all the media hysteria, because history shows time and again that the masses cannot make money on these types of bubbles.

Classic pyramid.

[Ari]

ReaperCushions said:

rossub said:

Once the general public starts investing, it’s always too late.

Agree, as has been proven once again.

The number of times I heard about it on Facebook / friends / family etc... you know its time to get out.

Absolutely this! Once you can see the bandwagon, it's too late to jump aboard it.

[tumble dryer]

Ari said:

ReaperCushions said:

rossub said:

Once the general public starts investing, it’s always too late.

Agree, as has been proven once again.

The number of times I heard about it on Facebook / friends / family etc... you know its time to get out.

Absolutely this! Once you can see the bandwagon, it's too late to jump aboard it.

It ain't over till the fat lady sings guys.

[rossub]

tumble dryer said:

It ain't over till the fat lady sings guys.

Dead cats are known to bounce

[ReaperCushions]

Personally, I am a big fan of the concept of this, I just felt it was overinflated, coupled with the hysteria, it was obvious it was going to go down.

I'm no trading genius, but I had been in for about 3 months then cashed out 2 days ago making a tidy sum. I should have cashed out 7 days ago and made even more... but you live and learn.

I'm waiting on the sidelines to get back in.

[bongtom]

Behemoth is strangely absent...

[bongtom]

The bitcoin fanbois are seeing this drop as a good thing and even calling it a "Christmas present" and telling people to buy more now it has dropped.

[stongle]

bongtom said:

The bitcoin fanbois are seeing this drop as a good thing and even calling it a "Christmas present" and telling people to buy more now it has dropped.

Yep, but odd... but a lot of them are talking btc up to 50k in 2018..... buying support for btc probably kicks in about 9500. I think retail punters have been spooked last week or so, coupled with some shifting back into fiat over YE. A 30% dip in a few days in most asset classes is brutal, especially as you can trade most on a margin basis. Crypto has done several thousand % growth (so short term losses minimal), and margin trading is much less (and looking at the vol you'd be mad too anyway).

Despite a 25% fall in value of ETH in a week I'm still 80% up on my position in less than a month. It's a total punt and I'm not sure this is a long term viable asset but I think there is a lot of sentiment to be exploited still (and crypto makes less than 5% of my portfolio).

[bongtom]

stongle said:

bongtom said:

The bitcoin fanbois are seeing this drop as a good thing and even calling it a "Christmas present" and telling people to buy more now it has dropped.

Yep, but odd... but a lot of them are talking btc up to 50k in 2018..... buying support for btc probably kicks in about 9500. I think retail punters have been spooked last week or so, coupled with some shifting back into fiat over YE. A 30% dip in a few days in most asset classes is brutal, especially as you can trade most on a margin basis. Crypto has done several thousand % growth (so short term losses minimal), and margin trading is much less (and looking at the vol you'd be mad too anyway).

Despite a 25% fall in value of ETH in a week I'm still 80% up on my position in less than a month. It's a total punt and I'm not sure this is a long term viable asset but I think there is a lot of sentiment to be exploited still (and crypto makes less than 5% of my portfolio).

Yes. The whole thing does not make sense as if you view it as an asset using the usual models it is scary.
I like that on Coinbase it only shows the percentage change to the year before which is obviously in the positive but when it rises they do it on a month basis!

[Cheib]

I think Bitcoin etc are here to survive but in what form I don't think anyone knows. One thing I do think is that because of the huge implications it has for the Black Economy there will be some form of concerted government action to regulate it....and more than likely that will include taxing profits accrued from trading it.

[tertius]

Cheib said:

I think Bitcoin etc are here to survive but in what form I don't think anyone knows. One thing I do think is that because of the huge implications it has for the Black Economy there will be some form of concerted government action to regulate it....and more than likely that will include taxing profits accrued from trading it.

Eh, profits are already taxed - they are subject to CGT.

[stongle]

tertius said:

Cheib said:

I think Bitcoin etc are here to survive but in what form I don't think anyone knows. One thing I do think is that because of the huge implications it has for the Black Economy there will be some form of concerted government action to regulate it....and more than likely that will include taxing profits accrued from trading it.

Eh, profits are already taxed - they are subject to CGT.

Re-read the HMRC website.

[tertius]

stongle said:

tertius said:

Cheib said:

I think Bitcoin etc are here to survive but in what form I don't think anyone knows. One thing I do think is that because of the huge implications it has for the Black Economy there will be some form of concerted government action to regulate it....and more than likely that will include taxing profits accrued from trading it.

Eh, profits are already taxed - they are subject to CGT.

Re-read the HMRC website.

I have and the key comment seems to be: “Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for CGT if they accrue to an individual or, for CT on chargeable gains if they accrue to a company.”

I’m speaking from the position of an individual, hence the CGT liability. But please provide better info if you have it?

[anonymous-user]

Anyone not voted yet ??