Cryptocurrency

[b0redom]

I don't think you'd pay more tax if each individual trade is taxed anyway.

if I make start with £1000, make 10 trades @ 10% profit on each one, then cash it back to GBP I'm made a profit of £1593.74. This is the exact same as the sum of the profit on each individual trade.

This is of course assuming a static rate of GBP vs whatever coin you're trading. It would only be beneficial to HMRC if the rate at the time of the individual trades was more than the rate at the time you've cashed in back to GBP.

Just seems way more complicated for a negligible, if any increase in tax revenue.

What about if you're up 10% on the first one, down 90% on the next, up 50% on the next, down 10% on the next etc. You're making the assumption you will always (or mostly) make a profit. Whilst this is true currently, if the market collapses you could be left with a massive tax bill and a huge loss?

[FrontEnder]

What about if you're up 10% on the first one, down 90% on the next, up 50% on the next, down 10% on the next etc. You're making the assumption you will always (or mostly) make a profit. Whilst this is true currently, if the market collapses you could be left with a massive tax bill and a huge loss?

You can offset losses, so this wouldn't happen.

[VirtualMonkey]

Yesterday I mentioned ETC is going to explode. So far its taken a 10% hit with the South Korea news, don't worry. It is still going to explode.

Let me tell what else is about to explode. Decred (DCR). There's a rumour, but I'm not going to add to it just yet until it becomes a little more solid. But if true it could be another Stellar like Bull run.

Decred's order book only has about 10BTC worth of buy orders from what I can tell....that could easily lead to a massive increase very easily

[ChimpMaster]

Decred's order book only has about 10BTC worth of buy orders from what I can tell....that could easily lead to a massive increase very easily

Good point. I bought in 0.5BTC of DCR just now and sucked up some of that Buy side.

[VirtualMonkey]

Good point. I bought in 0.5BTC of DCR just now and sucked up some of that Buy side.

my 0.05 isnt going to make that much of a dent. This looks to me like whena coin is first listed....massive spike before it comes down quickly
Might be worth putting in a sell at the higher end of the order book in case a whale lands and then buying back afterwards

have put a sell in at 0.03

[Lance]

what's happened to Ripple?
Just jumped from .00012 to .00015 in under an hour

[VirtualMonkey]

what's happened to Ripple?
Just jumped from .00012 to .00015 in under an hour

and more!

[Lance]

and more!

good. My Ripple was down 20% and the biggest loser of all my alts.
It's just turned into profit

[VirtualMonkey]

stellar is well up too

[ChimpMaster]

my 0.05 isnt going to make that much of a dent. This looks to me like whena coin is first listed....massive spike before it comes down quickly
Might be worth putting in a sell at the higher end of the order book in case a whale lands and then buying back afterwards

have put a sell in at 0.03

Correction: I also meant 0.05BTC!