The Bitcoin craze is back in the spotlight

[Bradley Prior]

The Bitcoin craze is back in the spotlight

Bitcoin mania is back and with it, the return of sky-high predictions from celebrity crypto fund managers to Wall Street stalwarts of where it can go next. [Bloomberg]

 

[Willie Trombone]

When the crypto analysts say R22k next you can be sure they are cashing out at R20.

 

[w1z4rd]

Yeah, decided to add to my Rand craze with some BTC craze.

Now is a bad time to buy though.

 

[Willie Trombone]

Yeah, decided to add to my Rand craze with some BTC craze.

Now is a bad time to buy though.

This is where the biggest losers jump in IMO.

 

[Randux]

Bought around $11K. Time to cash out my initial investment.

 

[KleinBoontjie]

This is where the biggest losers jump in IMO.

Ja, lot of people getting short paid because of Covid. A lot of people desperate for easy money.

 

[Aghori]

 

[S.Claus]

I don’t see this ending well. I’m waiting for the posts again lambo , house , boat etc sale for X amount of BTC.

 

[etienne_marais]

When Lambo

 

[saor]

View attachment 957677

I was into the tech a few years ago. But feels like there's been little progress in actual use of the tech. I still find it stupid that the value of a utility token on a blockchain is determined by irrational markets and whales. It's been really fun trading crypto and I'll keep on doing it, but I still think the trading of crypto has been a hinderance to of crypto.

Maybe not so much a hinderance to stores of value like BTC, but more so these projects who rely on a token to serve utility on their blockchain that isn't intended to be a store of value but the token gets treated like any other traded asset and these companies don't get anywhere because all anyone sees is a thing to trade and the value swings with the market.\

Well, maybe it's not stupid. It is just what it is and judgements aside it's been interesting to see a technology so tethered at the hip to these crypto markets.

 

[Thor]

It never left, we continued to accumulate during the $80, $200, $2000 and $3000s, I said in 2016 and in 2017, dollar cost average. buy small bits every month and over time your holding will be sufficient, regardless of the boom or bust cycle.

If your strategy is to time this thing then I will take your money each and every time, you will lose.

 

[saor]

It never left, we continued to accumulate during the $80, $200,

Is that you grandad?

 

[Zukat]

Are we declaring profits on crypto cash out to bank account, now that they need to register as fsps?

 

[Sads-1-zn]

What's the best bitcoin wallet (android) for a beginner?

 

[ActivateD]

It never left, we continued to accumulate during the $80, $200, $2000 and $3000s, I said in 2016 and in 2017, dollar cost average. buy small bits every month and over time your holding will be sufficient, regardless of the boom or bust cycle.

If your strategy is to time this thing then I will take your money each and every time, you will lose.

I have been doing this and it has done me well.

 

[Aghori]

What's the best bitcoin wallet (android) for a beginner?

Takealot

www.takealot.com

 

[Thor]

Are we declaring profits on crypto cash out to bank account, now that they need to register as fsps?

You always had to declare this, nothing has changed in that regard. You absolutely pay tax on crypto just like you do with any other investment be that property or a share or ETF through EasyEquities, there is virtually no difference.

 

[PAYBACK]

"What do you tell someone who asks you about bitcoin. Tell them to **** off!" - CT influencer

 

[Swa]

Whenever someone talks dates, you know they don't know what they're talking about.

 

[Swa]

I was into the tech a few years ago. But feels like there's been little progress in actual use of the tech. I still find it stupid that the value of a utility token on a blockchain is determined by irrational markets and whales. It's been really fun trading crypto and I'll keep on doing it, but I still think the trading of crypto has been a hinderance to of crypto.

Maybe not so much a hinderance to stores of value like BTC, but more so these projects who rely on a token to serve utility on their blockchain that isn't intended to be a store of value but the token gets treated like any other traded asset and these companies don't get anywhere because all anyone sees is a thing to trade and the value swings with the market.\

Well, maybe it's not stupid. It is just what it is and judgements aside it's been interesting to see a technology so tethered at the hip to these crypto markets.

That to me is still the biggest con. If it was about the technology it would have used a stable asset to trade on the blockchain. But from its inception Bitcoin was touted as being deflationary so it's more about the value and a way to get rich than about the technology.