Bitcoin Thread

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UB40 said:
Mine as well, R8k jumped to R14k I saw last week, but this week it is tumbling. That's fine, Im not touching it until I retire
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That’s the way to do it. I don’t monitor it a lot. I just put in X amount each month. If I loose it all; that’s fine. It’s money I can afford to loose.
 
Priapus said:
Number one rule when investing. Don’t use money you can’t afford to loose. I do also appreciate the fact that I can exit the game at a moments notice.
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Never cash out, SARS will want you to pay tax on your winnings. Rather spend your crypto at shops that allow crypto as payment. I for one will be keeping mine locked away for the next 15 years. By that time the Rand to the Dollar will be 40 to 1. Good return, local banks can never beat that.
 
UB40 said:
Never cash out, SARS will want you to pay tax on your winnings. Rather spend your crypto at shops that allow crypto as payment. I for one will be keeping mine locked away for the next 15 years. By that time the Rand to the Dollar will be 40 to 1. Good return, local banks can never beat that.
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SARS won't be an issue for me. I'm emigrating in Q1 of 2024. My crypto won't be cashed out for a few years and will be in a different currency, anyway.
 
Priapus said:
SARS won't be an issue for me. I'm emigrating in Q1 of 2024. My crypto won't be cashed out for a few years and will be in a different currency, anyway.
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In that case dump all your Rands into crypto in Q1 2024 and leave empty handed.
 
Priapus said:
Number one rule when investing. Don’t use money you can’t afford to loose. I do also appreciate the fact that I can exit the game at a moments notice.
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It's pretty hard to invest funds that aren't loose. If they're tied up, you need to loose them first in any case.
 
UB40 said:
In that case dump all your Rands into crypto in Q1 2024 and leave empty handed.
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I'm planning on ramping up the crypto fund the closer I get to leaving. But I am unsure how I am going to withdraw all of the funds once I'm in the new place.

There is also the bull run coming up. Almost guaranteed to increase the BTC price.
 
Speedster said:
It's pretty hard to invest funds that aren't loose. If they're tied up, you need to loose them first in any case.
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I am now operating two systems: Buy BTC and basically hold it, adding whenever I can, even now as the price is rising because I view BTC differently from other crypto.. Then I am day trading ETH for profit and out of interest with absolutely "loose" money.
 
Priapus said:
I'm planning on ramping up the crypto fund the closer I get to leaving. But I am unsure how I am going to withdraw all of the funds once I'm in the new place.

There is also the bull run coming up. Almost guaranteed to increase the BTC price.
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Buy the crypto and send it off the exchange. Once you are out of SA send back to exchange and cash out to new bank account.
 
UB40 said:
Too many dodgy exchanges out there. It's like leaving your money in a bank account and someone internal hacks your account
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Well, my stuff in a Luno account. (As a Staff member I pay zero fees) - when I get to the other side, I was just going to change country on the app to UK - provide details. Link to new UK account and cash out if need be.
 
This is why all my Crypto is moved off the exchange and is on my hard wallet, my Nano X Ledger. Locked away safely inside my fireproof safe in my bedroom
 
Dimpie (COMPUTEK) said:
The safe might be fireproof, but is the Nano heatproof ? :unsure:
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Nope, in that case I have my 22 safe words written down inside another tiny safe inside my garage. If any affirmative burglar breaks in he wont know what to do with a scribbled piece of paper.
 
UB40 said:
Nope, in that case I have my 22 safe words written down inside another tiny safe inside my garage. If any affirmative burglar breaks in he wont know what to do with a scribbled piece of paper.
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Seeing you changed your profile pic - write it on a piece of paper and hide it inside a samoosa in your freezer.
 
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