The Bitcoin Thread

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kfc4unme said:
Nah at R260k
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Yeah it's rough, especially for people are just holding since then.

I feel like I've been fighting a losing battle for the last two weeks since the drop from R200k. I've managed to sell and rebuy whenever it was safe to do so. But the price is dropping twice as fast as I can accumulate more BTC. So I'm losing continuously in Rand terms but only half as much compared to just holding, until the tide turns.
 
SaiyanZ said:
I sold and rebought a little. Have 3% more BTC.

Edit: I would be buying now. USD market is stabilizing above $10.4k and we are about R2k underpriced at R131k.
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hehehe....no such thing as stabilizing....

8k comming soon to an exchange near you.....sub 100k bitcoin then we buy!!!!
 
*SynergyX* said:
hehehe....no such thing as stabilizing....

8k comming soon to an exchange near you.....sub 100k bitcoin then we buy!!!!
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Will see if that happens. I don't mind though as I'll just hold and improve my BTC position inch by inch. At some point it will start going up again and that's when I score. Impossible to tell where the bottom is or how long it will take to reach there.

One good thing about this drop is that people who bought and held in the last two months and sold now made big losses. So SARS and other tax offices around the world might stop looking at creating a special crypto tax because they may have to pay out more than they receive.
 
chickenbeef said:
That makes 2 of us. Fortunately for me I didn't invest too much so no regrets. Will hodl till it's over 300k again.
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If I had trusted my gut and day traded BTC I'd have made serious gains the last 2 weeks. It's is incredibly consistent and predictable right now. You can trade just about any top 50 coin just by buying in when the market cap goes below 500 billion and sell as it touched 550 and make 10 percent on a daily basis. Just look what happened 10 minutes ago...
 
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SaiyanZ said:
Will see if that happens. I don't mind though as I'll just hold and improve my BTC position inch by inch. At some point it will start going up again and that's when I score. Impossible to tell where the bottom is or how long it will take to reach there.

One good thing about this drop is that people who bought and held in the last two months and sold now made big losses. So SARS and other tax offices around the world might stop looking at creating a special crypto tax because they may have to pay out more than they receive.
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Lol no. There's no negative tax on trading losses.
 
Sinbad said:
Lol no. There's no negative tax on trading losses.
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Why wouldn't there be? If we have to declare profits then we should be able to declare losses and reduce our taxable income. For most people this would mean they overpaid tax via their company monthly tax deductible from their salary.
 
SaiyanZ said:
Why wouldn't there be? If we have to declare profits then we should be able to declare losses and reduce our taxable income. For most people this would mean they overpaid tax via their company monthly tax deductible from their salary.
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Think the negative is only for regulated trades like JSE etc.
 
SaiyanZ said:
Why wouldn't there be? If we have to declare profits then we should be able to declare losses and reduce our taxable income. For most people this would mean they overpaid tax via their company monthly tax deductible from their salary.
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Pretty sure you could offset losses against trading income, but not against salary/revenue...
 
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