Cryptocurrency

[SunnyInHades]

The hard fork is something I don't yet understand...is it good or bad to be in when it happens...do you get free coins if you hold something that is forking?

Those who held 'Bitcoin' when 'Bitcoin Cash' forked 'got' free 'Bitcoin Cash'.
Those who held 'Bitcoin' when 'Bitcoin Gold' forked 'got' free 'Bitcoin Gold'.

More techy .. "If you were in Bitcoin when Block 491,407 occurred (in a Bitcoin wallet or exchange that supports the fork), you technically have Bitcoin Gold."

"The fact that Bitcoin Cash and Bitcoin Gold were relatively successful doesn't mean that other forks will be."
"There's also a real danger that some of these forks will be scams."

[FrontEnder]

The hard fork is something I don't yet understand...is it good or bad to be in when it happens...do you get free coins if you hold something that is forking?

I don't think it's good. Hopefully it'll be a fad that will die off soon. I got a small amount of bitcoin gold as i didn't have much in my BTC wallet when the fork happened. I was gonna sell it immediately, but will wait to see if there's a spike and sell then.

People obviously see how BCash created a multi-billion market cap overnight and think they can do that.

[scooterscot]

Stellar is creeping slowly back up. There seems to be a support line at about 760 which has been heavily bounced off a couple of times now. Looking to sell at 850 if that happens again and then buy back at 780ish...let's see

I think it’ll go to 1000

[VirtualMonkey]

I think it’ll go to 1000

It lifted earlier than I thought so I missed the chance.
Have a sell set at 898 at the moment but need to keep watching as that sell is to try and get a temporary spike.
Diane Kemala think 1133 according to this:
https://www.tradingview.com/chart/XL...cation_publish

[VirtualMonkey]

Disappointed with Zencash...thought it would have bumped by now...hanging in there though

[FrontEnder]

Disappointed with Zencash...thought it would have bumped by now...hanging in there though

I think the PBC thing has probably meant the reaction to secure nodes announcement is somewhat moot. Plus it's only in Beta, with full go live in 2 weeks

The surge for Zen is if/when people who use privacy coins start moving over from the likes of Monero etc. So basically the dark web needs to get in on it

[glebe digital]

If that is someones aim, they're unlikely to use an exchange. Unless there are ones out there that don't do any ID/KYC checks.

I don't think that's anyone here. We're just looking to make some easy money for now. If we have to pay some tax on that, ok, whatever.

Yeah I get that, perhaps there are BTC-to-FIAT 'laundromat' sites via the Tor network, I wouldn't be surprised.

But the point is, if you accept that you 'might' have to play with the taxman, surely it's better to find out & declare profits if required, rather than wait for him to prosecute you for evasion at some point down the line? By the looks of it, too many are being extremely blasé about it.

[FrontEnder]

Yeah I get that, perhaps there are BTC-to-FIAT 'laundromat' sites via the Tor network, I wouldn't be surprised.

But the point is, if you accept that you 'might' have to play with the taxman, surely it's better to find out & declare profits if required, rather than wait for him to prosecute you for evasion at some point down the line? By the looks of it, too many are being extremely blasé about it.

Yeah, I agree. I'm not at the stage where I want to cash anything out, but when I do I'll probably declare it in line with HMRC's guidelines are at the time.

However, it's quite possible that crypto becomes mainstream. e.g. If retailers start accepting payments. In which case it may be better to just spend it than convert back to FIAT.

As far as I can tell HMRC treat this as a currency for tax purposes, so it's only when you sell back to GBP that any tax would be due.

[AtW]

"Lloyd Blankfein, chief executive of the US investment bank, said: “Something that moves 20% [overnight] does not feel like a currency. It is a vehicle to perpetrate fraud.”"

https://www.theguardian.com/business...man-sachs-boss

[BrilloPad]

"Lloyd Blankfein, chief executive of the US investment bank, said: “Something that moves 20% [overnight] does not feel like a currency. It is a vehicle to perpetrate fraud.”"

https://www.theguardian.com/business...man-sachs-boss

He is upset as it is near the peak and he has none.

Next he will want it regulated....