Cryptocurrency

[northernladuk]

Anything under $25k is a steal. Yes it might fall to $2800, $1200, $500 or even $120. Who cares. I'm not. But I do know what it'll be years from now. And that the average joe will not be able to afford a single coin.

Cool story bro. Thanks.

[scooterscot]

Bitcoin is about to enter a period of volatility like you've never seen before. We're used to seeing Bitcoin bounce up and down +/- $1k throughout this year. That's about to change to +/- $2-4k on average.

[Hobosapien]

Finally got around to linking a bank account to Coinbase so can use faster payments (same bank so shouldn't be any worries about freezing accounts due to crypto transactions) and also withdraw back to £s should I choose to cash in my cryptos back to FIAT in the near/distant future.

My current plan is still to just keep it simple and pound cost average into BTC while it's on a downward trend.

Not sure I have the will to bother with the alts unless volatility means some short term gambles worth having a play with 'loose change'. Figure all the aggro with capital gains tax on a risk that may end up with a loss in a future tax year, so having to pay the tax then try to reclaim it later if it never gets back above water, means you have to be on the ball and not just a casual tinkerer to make it work and be worthwhile, as opposed to the simpler approach of just buying BTC at a cheaper rate with £s.

In other news, I see that John McAfee has clarified his bet where he previously stated that he'd eat his dick if bitcoin failed to reach $1m by the end 2020, has now said he will outsource it to a team of Bangkok prostitutes.

[scooterscot]

Finally got around to linking a bank account to Coinbase so can use faster payments (same bank so shouldn't be any worries about freezing accounts due to crypto transactions) and also withdraw back to £s should I choose to cash in my cryptos back to FIAT in the near/distant future.

Took me almost 3-months to do the same think. However, it now only takes a few minutest to transfer from a crypto assets to the bank account. Sweet.

[Hobosapien]

Took me almost 3-months to do the same think. However, it now only takes a few minutest to transfer from a crypto assets to the bank account. Sweet.

Yep. Forgot to mention the linking is for GBP transfer so no more SEPA transfer bollox where account name must match.

[stonehenge]

Figure all the aggro with capital gains tax...

That's why my preference is to buy some BTC tracker in my SIPP ie. no CGT if it does another moon shot.

[psychocandy]

that's why my preference is to buy some btc tracker in my sipp ie. No cgt if it does another moon shot.

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[stonehenge]

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Sure, it's a gamble, but I'll only risk a small amount that I'm prepared to lose.

[northernladuk]

Anything under $25k is a steal. Yes it might fall to $2800, $1200, $500 or even $120. Who cares. I'm not. But I do know what it'll be years from now. And that the average joe will not be able to afford a single coin.

But surely that means it will have failed to become a main stream currency so all a waste of time? Predicting that something that needs to be adopted to go up in price and then fail in what it was supposed to do is a perfect reason to keep out of it?

[Hobosapien]

But surely that means it will have failed to become a main stream currency so all a waste of time? Predicting that something that needs to be adopted to go up in price and then fail in what it was supposed to do is a perfect reason to keep out of it?

The hope amongst the 'dirty spekulants' is that bitcoin become digital gold so one bitcoin will be like a ton of gold, out of reach of most but they can spend satoshis instead. There's also the digital gold backed currency angle for when FIAT goes up in smoke.