Cryptocurrency

[Drei]

Two more sites for peopel interested in buying:

https://gemini.com/

https://localbitcoins.com/


Scoot can provide feedback on these two

[Drei]

Yes, because BoE can print money in one nano-second, but buyers of "crypto" can't - "mining" isn't quick and getting exponentially harder.

Artificially they can:

Trading simulation

In order for a cryptocurrency to grow, it needs sufficient liquidity. If there is not enough organic activity on the markets, it can be created artificially by employing trading bots.

By constantly moving the coins around, these artificial bulls and bears increase liquidity, which in turn allows the capitalization to grow, little by little.

Obviously, this is an artificial measure which can’t, on its own, create real demand for the currency. However, in some cases, bots can be a useful tool for a growing cryptocurrency, just to give it an extra boost of liquidity.

[scooterscot]

99% of people dealing in crypto don't declare their profits since the government doesn't quite have the means to check it yet. How about crypto then, call that criminal tax dodging and illegal trading?

How do you declare profits in something that's not recognised by the state?

[AtW]

How do you declare profits in something that's not recognised by the state?

Capital Gains (Tax).

[scooterscot]

https://localbitcoins.com/


Scoot can provide feedback on these two

I've seen this before but never used. As long as the fees are not extreme then why not? Would not move big money through them mind you.

[scooterscot]

Capital Gains (Tax).

Not required on the channel islands. Just saying like...

[AtW]

Not required on the channel islands. Just saying like...

Are you tax resident on the Channel Islands?

[scooterscot]

I know someone who is.

[AtW]

I know someone who is.

But not you?

[scooterscot]

Why is that important?

Remember crypto 'addresses' are just that, addresses with no name or physical ID attached. Anyone in possession of the address can withdraw the assets.