Bitcoin Thread

[enerdude]

Let me rephrase. Imagine the BTC network processing the same amount of visa transactions and the like, the energy consumption would be far greater. Numbers are out there. Do the math.

Don't you get it, fiat is about more than visa transactions. That is what the whole article is about if you bothered reading it to the end.

 

[AirWolf]

Crossed 50k, but only just...

 

[dusi]

Crossed 50k, but only just...

Key psychological level broken, moon time.

 

[Zyzzyva]

Key psychological level broken, moon time.

Maybe, but we first need to get through the 0.618 Fib at around 51000.

Been trading off them this whole move up.

 

[dusi]

No bull traps? 2018 Never forget.

we're closing well above the 200 day ema, so we're technically still in a bull market.

 

[Zyzzyva]

To add to the point:

In the short term there is still some resistance to get through.

 

[Sensorei]

I invested in 40k in bitcoin 2017-2019 I have no records of the actual amount invested each time, my present holdings is 0.63 of bitcoin, if I don't sell do I still have to pay the back taxes every year, or could I just pay when I eventually cash up.

What local exchange did you buy the BTC on? Luno keeps a record of deposited funds and transactions going way back that you can access and print out.

 

[Weasley]

What local exchange did you buy the BTC on? Luno keeps a record of deposited funds and transactions going way back that you can access and print out.

where on luno is that?

 

[AirWolf]

A touch below 50k again

 

[callvm]

I'm keen to hear what others are doing about taxes this year now that SARS has been pushing the "tax crypto" narrative pretty hard. Anyone gonna pay taxes on profits/earnings for the previous financial years?

 

[Speedster]

I'm keen to hear what others are doing about taxes this year now that SARS has been pushing the "tax crypto" narrative pretty hard. Anyone gonna pay taxes on profits/earnings for the previous financial years?

I've paid up my taxes in the previous years so will simply continue doing so

 

[callvm]

I've paid up my taxes in the previous years so will simply continue doing so

Nice one. A lot of people (myself included) only recently found out that earning in crypto or even trading crypto to crypto are taxable events, so wonder how this will pan out now for those that haven't declared that sort of stuff..

 

[Speedster]

Nice one. A lot of people (myself included) only recently found out that earning in crypto or even trading crypto to crypto are taxable events, so wonder how this will pan out now..

Quick tip for the future. Any and all income you ever generate in any form will be taxable.

 

[callvm]

Quick tip for the future. Any and all income you ever generate in any form will be taxable.

Sure, noted, although I wasn't unsure about that, more so about which action constitutes a taxable event. Back in 2017 for instance, it wasn't really clear to me that the receiving of crypto was a taxable event, and I was under the impression that "you only pay taxes when you sell" - obviously this isn't the case though, now.

Anyways, all I meant was, I wonder what others who earned in crypto/mined and only declared what they sold are going to do now.

 

[Sensorei]

where on luno is that?

Go to your ZAR wallet and it shows your entire deposit and trade history. You can download the statement.

 

[PseuDohNom]

I'm waiting for a rejection from fib resistance to 45k, and I'll pick up some alts.

 

[dusi]

When lambo?

 

[Sensorei]

I'm waiting for a rejection from fib resistance to 45k, and I'll pick up some alts.

Very strong support at $49,300. I longed $49,350. Stop loss $48,850.

More likely to test $51K where really tough resistance is before bigger correction. Volume is lacking, so definitely risky.

 

[PseuDohNom]

It's starting to seem risky NOT to buy right now.

This dry powder is feeling the FOMO itch.

 

[dusi]

It's starting to seem risky NOT to buy right now.

This dry powder is feeling the FOMO itch.

Below all time high is a discount.