The Bitcoin craze is back in the spotlight

ghoti

Karmic Sangoma
Joined
Jan 17, 2005
Messages
47,855
Yeah, decided to add to my Rand craze with some BTC craze.

Now is a bad time to buy though.
 

Randux

Expert Member
Joined
May 7, 2010
Messages
3,476
Bought around $11K. Time to cash out my initial investment.
 

S.Claus

Senior Member
Joined
Nov 14, 2017
Messages
948
I don’t see this ending well. I’m waiting for the posts again lambo , house , boat etc sale for X amount of BTC.
 

saor

Honorary Master
Joined
Feb 3, 2012
Messages
24,937
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.
 
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Thor

Honorary Master
Joined
Jun 5, 2014
Messages
40,657
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.
 

Zukat

Expert Member
Joined
Oct 11, 2010
Messages
1,111
Are we declaring profits on crypto cash out to bank account, now that they need to register as fsps?
 

ActivateD

Expert Member
Joined
Jun 7, 2004
Messages
1,521
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.
 

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
40,657
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

Expert Member
Joined
Aug 5, 2003
Messages
1,777
"What do you tell someone who asks you about bitcoin. Tell them to **** off!" - CT influencer
 
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Swa

Honorary Master
Joined
May 4, 2012
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25,776
Whenever someone talks dates, you know they don't know what they're talking about.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
25,776
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.
 
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