World of crypto

[NottsRam77]

On 11/08/2021 at 13:05, tinman said:

I know someone on here was going on about clubs launching their own Bitcoin thing. Villa have just done it. But it looks a rather pointless exercise. It’s suppose to drive fan engagement but you don’t get a say on anything useful. At best you might make a few quid, but on the field or off the field activities doesn’t really make much difference. 

 

Its so much bigger than that

NFTs are going to be literally the next big thing 

football /sportstokens are just the tip of the iceberg

art and music… music for me is the big one 

But its going to be massive and its only just begun

And no i dont own any yet… but i will when the bear market is upon us 

[cstand]

10 hours ago, NottsRam77 said:

Dont… my Best mate whos done v well this cycle told me to hold i took profit at about 50 …. Doh !!

It’s never wrong to take a profit.

[cstand]

Anyone looking at World Mobile Token it’s an ethical investment in crypto space not had chance to research it myself going on holiday. It will start off in Africa then if it works go globally. Thanks in advance.

[NottsRam77]

4 hours ago, cstand said:

It’s never wrong to take a profit.

Very true … our motto

[NottsRam77]

4 hours ago, cstand said:

Anyone looking at World Mobile Token it’s an ethical investment in crypto space not had chance to research it myself going on holiday. It will start off in Africa then if it works go globally. Thanks in advance.

Will look into it 

[tinman]

On 29/08/2021 at 10:43, 86 Hair Islands said:

Been a lurker on this thread for a little while but have been a little reticent to post. Here's the story...

A couple of years back, a fellow director and good friend at one of the firms I'm involved in began nagging me to get some money into Cardano. I had decent dividend due from the firm so eventually I sat down with him and got him to explain why he was so adamant that it would make a good investment. Put simply, his reasoning was: the pedigree of the brains trust behind Cardano, their core business strategy / mission statement and critically, their use of proof of stake protocols versus proof of work. Proof-of-stake blockchains are way more energy efficient than proof-of-work chains and this is absolutely key.

Long story short, I invested £20k at Christmas 2019, which was my entire dividend payment. My pal was in at the off and as of yesterday, his investment is worth in excess of $2,000,000. He has just made another significant investment in one other cryptocurrency which he plans to top up end of year. More on that in due course...

Anyway, the reason I mention this is not to gloat over how lucky I've been, but rather to pass on what I think is a solid tip. Cardano is nowhere near it's peak and remains highly investable, so if you have any money in the likes of Bitcoin or Ethereum (or down the back of the sofa), you could do a lot worse than moving a few grand, if not everything, into Cardano. There's no reason for anyone to take my word for it, I grant you, but at very least, but I'd urge you to do a little research for yourselves before dismissing the notion. 

Cardano is down 30% since that post!

[Comrade 86]

On 28/09/2021 at 23:49, tinman said:

Cardano is down 30% since that post!

Buddy, if you believe that crypto markets, or any other for that matter, only move one way, I'd suggest they are not for you. The friend I allude to in my original post lost half his initial investment in Cardano inside 4 months. He held his nerve and retired last week. He's 41 years old. Crypto is as volatile an investment as you could wish for so if the swings and dips are off-putting, find something blue chip instead. I believe Cardano will comfortably clear $30.00 in time and that's the reason I've put it up as one for folk to research with a view to investment.

Anyway, this is pretty much why I was reticent to post in this thread so I'll leave it there and not post further.

Edited September 29, 2021 by 86 Hair Islands

[Rev]

18 minutes ago, 86 Hair Islands said:

Buddy, if you believe that crypto markets, or any other for that matter, only move one way, I'd suggest they are not for you. The friend I allude to in my original post lost half his initial investment in Cardano inside 4 months. He held his nerve and retired last week. He's 41 years old. Crypto is as volatile an investment as you could wish for so if the swings and dips are off-putting, find something blue chip instead. I believe Cardano will comfortably clear $30.00 in time and that's the reason I've put it up as one for folk to research with a view to investment.

Anyway, this is pretty much why I was reticent to post in this thread so I'll leave it there and not post further.

Same with any investment. 

I remember helping my wife with some research during her Business degree.

The subject was PC World/Curry's, and whether their rebrand and shift of focus would work, and would you recommend the shares to a friend.

At the time of the assignment, £1k invested 3 years previous was now worth around £3k, whereas £1k invested 6 months previous was only worth £700.

Crypto is obviously even more volatile, but if you've invested an amount you can afford to lose, don't go checking it every day, take the long term view.

[Carl Sagan]

I curse myself often for not buying into Bitcoin when I was a technology publisher and knew about it from its very early days. But there you go. However, I've been fortunate on a small scale with investments. What I don't get at this stage is how to convert some profits back to fiat (aka traditional) currencies without incurring massive tax penalties.

If/when the day comes that you can simply buy everyday things out of a crypto wallet it won't be a problem but right now I believe the revenue comes after you if you take more than £5k off an exchange into a bank account in any one financial year. I have a Coinbase account and they're legally obliged to report this to HMRC. What do people do, or are they just letting things ride for now? 

I realize it's a nice problem to have.

[Stive Pesley]

8 hours ago, Carl Sagan said:

If/when the day comes that you can simply buy everyday things out of a crypto wallet it won't be a problem but right now I believe the revenue comes after you if you take more than £5k off an exchange into a bank account in any one financial year. I have a Coinbase account and they're legally obliged to report this to HMRC. What do people do, or are they just letting things ride for now? 

I'd suggest if you were going to do a withdrawal, now would be a good time. Mates who work in HMRC tell me that they are all diverted onto B*xit-related matters as a priority and as a result the threshold for what they go investigating on CGT has been significantly increased

[Ramslad1992]

I know nothing about crypto but a friend practically begged me to invest in shiba Inu saying it’s the next best thing… put £20 in, let’s see how it goes.

[cstand]

On 30/09/2021 at 09:09, Stive Pesley said:

I'd suggest if you were going to do a withdrawal, now would be a good time. Mates who work in HMRC tell me that they are all diverted onto B*xit-related matters as a priority and as a result the threshold for what they go investigating on CGT has been significantly increased

An increase in CGT threshold is nothing to do with B#xit it’s down to our ever ballooning out of control national debt since 2007.

https://www.ukpublicspending.co.uk/uk_national_debt_analysis

I only got interested in crypto because it could be a store of value same as gold against a long lasting worldwide recession.

[Stive Pesley]

10 hours ago, cstand said:

An increase in CGT threshold is nothing to do with B#xit it’s down to our ever ballooning out of control national debt since 2007.

Think you misunderstood what I meant.

I was talking about their being a finite number of employees in HMRC, but the sudden huge increase in the amount of work generated for the department by B#xit has meant a lot of them have been redeployed to deal with customs issues. Therefore, investigating other HMRC areas like CGT, Inheritance Tax, Self-Assessment etc etc has taken a hit and they don't have enough staff to go after the small fry

[cstand]

Bitcoin at a near ATH and with the mess of listing on the Nasdaq hopefully behind us Argo blockchain is due for a re-rate? When the new Texas solar panel plant gets underway hopefully a by product will be selling electricity back to the grid. Price 120

Edited October 19, 2021 by cstand

[LERam]

You know my biggest regret, I was well in the know and clued up about bitcoin when it was in its infancy

I nearly "fell" for the scam, but after reading various blogs/articles etc etc, figured I'd save my money

I'd have been able to reture if I'd just stuck my money on it

But then I suppose that's easy to say for any stock/share

Got on the Shiba but only bought £20 worth which is now worth £150, which is nice, but I want something to about

Read about a guy that put $8000 in and its now worth billions today, sort of..... He can't cash out as he owns 10% of all the coins and doing so would crash the price 99%

 

The other coin I'm looking at is wenlambo, anyone heard of that? Not bought any yet but they've just launched an nft marketplace which will be big (although I don't get it)

 

Problem is all the positive on that comes from people that have it, so I don't know......

[tinman]

Loopring is getting a lot of love at the minute. As I don't really 'get' crypto I put a small amount in 2 weeks ago. I've now taken out that initial investment and still 250% up.

Something to do with a tie in with Gamestop or something? Like I say, don't really get it. It's now into gameshow territory for me, where i could cash out now, or just let it run as I can't lose money but if it bombs then I walk away with nothing! 

 

 

 

[Bob The Badger]

Speaking of NFTs and being creative with using them.

 

[Bob The Badger]

Holy ducking wow!

 

[JoetheRam]

6 hours ago, Bob The Badger said:

Holy ducking wow!

 

That's an interesting and simple explanation. Seems to be saying It's akin to the hologram on the £50 note telling you it's a real £50 and worth something, other than my piece of a paper with £50 written on it.

It's all ********, Baudrillard "sign value" type stuff a la 'The supreme brick'. Which is just a brick which has no greater use or purpose than an ordinary brick other than it has "supreme" written on it and therefore costs 1000 x as much.

The 'real' image has no higher intrinsic value and cannot be distinguished from a fake one, other than the rights holder saying this is the real image, putting a digital hologram all over it and therefore anything else is just a copy of a copy of a copy.

Got to give it to the nerds on this one. Finding a way of extracting value from essentially worthless material and selling it back to people that have already got a copy of something which is exactly the same for a vastly inflated price is genius.

[NottsRam77]

On 30/09/2021 at 00:52, Carl Sagan said:

I curse myself often for not buying into Bitcoin when I was a technology publisher and knew about it from its very early days. But there you go. However, I've been fortunate on a small scale with investments. What I don't get at this stage is how to convert some profits back to fiat (aka traditional) currencies without incurring massive tax penalties.

If/when the day comes that you can simply buy everyday things out of a crypto wallet it won't be a problem but right now I believe the revenue comes after you if you take more than £5k off an exchange into a bank account in any one financial year. I have a Coinbase account and they're legally obliged to report this to HMRC. What do people do, or are they just letting things ride for now? 

I realize it's a nice problem to have.

To my knoweledge mate ur allowed up to 12k in capital gains per year before u have to declare it.

if u want or still after a more solid answer i can ask my best mate whos a tax specialist whos very pro and clued up on crypto 

my fees are v reasonable lol

But seriously i can ask for confirmation on that if u need to know still