Cryptocurrency

[northernladuk]

Are you joking? You don't know how the markets work?

You not been following his posts? He doesn't have a clue. He's only doing what he is told to do on here.

[glebe digital]

https://www.gov.uk/government/public...yptocurrencies

Thanks for that, appreciated.

"depending on the facts, a transaction may be so highly speculative that it is not taxable or any losses relievable."

So a case-by-case examination they say, but if you're regularly trading on alt-markets I would imagine HMRC will be after a cut, and quite a big one considering.

[SunnyInHades]

Education:
Now look at BTC prices instead of USD and you can see where the money is going. Always follow the bitcoin price.

https://coinmarketcap.com/all/views/all/#BTC

Some of the 7 day altcoin gains shown on that page are staggering. Top 2 with decent circulating supply are:
Elementrem 1611%
FedoraCoin 701%

This time next week Rodney I'll be a millionaire

[DimPrawn]

Some of the 7 day altcoin gains shown on that page are staggering. Top 2 with decent circulating supply are:
Elementrem 1611%
FedoraCoin 701%

This time next week Rodney I'll be a millionaire

Problem is there are so many altcoins, which ones are going up 1000% and which are going to zero?

[AtW]

Problem is there are so many altcoins, which ones are going up 1000% and which are going to zero?

All.

[scooterscot]

@scooterscot

What's the position on tax?
Are profits classed as income (and taxable) or do they come under HMRC's gambling umbrella, and tax free?

Rather an important issue for you, I imagine?

I'm not resident in the UK, so it's win.

[scooterscot]

Problem is there are so many altcoins, which ones are going up 1000% and which are going to zero?

I've been screaming it from the rooftops for days now - Zencash - It'll make you a 1000% gain in the coming 12 months easily.

[BrilloPad]

You not been following his posts? He doesn't have a clue. He's only doing what he is told to do on here.

Not everyone is obsessed with PC....

[glebe digital]

I'm not resident in the UK, so it's win.

Ooh I dunno, looks like a slippery grey area to me:

Bitcoin tax heaven in Germany?
https://bitcointalk.org/index.php?topic=1098242.0

Good luck!

[Lance]

Bitcoin Is a Bad Way to Do Something Necessary | Ian Welsh

Bitcoin was also a libertarian project. Libertarians hate inflationary money, so Bitcoin was made deliberately deflationary. There are a limited amount of bitcoins which can be created. There is a strong first mover advantage even without the fact that bitcoin is acting more like stock in a company than money.

Deflationary money is reactionary. It rewards people for being first, not for being productive. It encourages people not to spend and not to invest in something other than money, which is bad for economies.