Jump to content
House Price Crash Forum

The Bubbly Bitcoin Thread -- Merged Threads


Recommended Posts

4 hours ago, Buffer Bear said:

 

@warpigWhy sell?  I've not long finished work and spotted a nice dip.  Guess what I did next?!  Rhetorical question. 😉 Also placed a limit order on your advice. You never know, it might fall further, eh @warpig

Just a hunch... 

Link to comment
Share on other sites

1 hour ago, MonsieurCopperCrutch said:

Musk is just playing you and the markets to move the price and buy in cheaper. Have you learned nothing?

@MonsieurCopperCrutchTwo can play that game!  Been busy tonight...I did say I needed more excitement. 🙄😯😁

There I was minding my own business and popped onto Twitter to see a post accusing Musk of crashing the market. 

Link to comment
Share on other sites

17 minutes ago, Buffer Bear said:

@MonsieurCopperCrutchTwo can play that game!  Been busy tonight...I did say I needed more excitement. 🙄😯😁

There I was minding my own business and popped onto Twitter to see a post accusing Musk of crashing the market. 

Did you catch the dip? It tickled $47,750. 

Edited by MonsieurCopperCrutch
Link to comment
Share on other sites

@MonsieurCopperCrutchSure did. I made a small purchase at about $53k and placed a limit order before I realised it was on the slide. The dip was too good to be true so doubled my earlier purchase at $49k 😁 I think I was very fortunate to catch this.  My alerts were on but my phone was elsewhere. If It drops further, I will seriously have to consider investing again. 🤔

Happy Days.

 

But not to this extent...😲

Edited by Buffer Bear
Link to comment
Share on other sites

As for any financial instrument, professionals can & will profit from crypto due to their knowledge & experience.  Most 'investors' don't know what they're doing or understand the tax implications.

There are already a few sob stories just on the Tesla pull-back.  When the big correction comes there'll be a flood of them.  When I see the first, inevitable tale of someone caught on the wrong side of the trade & facing huge CGT on previous profits already long spent, I will laugh until I poo.

Edited by hotblack42
Grama
Link to comment
Share on other sites

6 hours ago, warpig said:

Just a hunch... 

Have you learned nothing? I hope you bought @ $47k?  Perfect wick down to touch and tst the 21 EMA on the weekly. It held, and bounced straight off it.  

To remind you, in ALL previous bitcoin Bull markets the Weekly 21 EMA was tested several times and always held, until after the blow off tops. It's pretty much all you need, There would have been a massive buy wall @ $47k. 

So now it gets serious.  It we close above the 21 weekly EMA this week and go up again, alls good. If we close below the 21 weekly EMA, all bets are off, unless it's a very bad bear trap. 

Link to comment
Share on other sites

58 minutes ago, hotblack42 said:

When I see the first, inevitable tale of someone caught on the wrong side of the trade & facing huge CGT on previous profits already long spent, I will laugh until I poo.

Why would anyone have a huge CGT bill if they didnt sell? If they have long spent "profits" they must have sold into FIAT, so should have set their CGT allowance aside. 

So it what circumstance of your post would someone be in trouble? confused?  If you borrow against you BTC there is no CGT bill, it's a loan, not a disposal.  

Link to comment
Share on other sites

56 minutes ago, markyh said:

Why would anyone have a huge CGT bill if they didnt sell? If they have long spent "profits" they must have sold into FIAT, so should have set their CGT allowance aside. 

So it what circumstance of your post would someone be in trouble? confused?  If you borrow against you BTC there is no CGT bill, it's a loan, not a disposal.  

Sigh.

I'm not talking about people who research and conduct themselves properly.  Try taking a few minutes out of your carefully managed, informed personal world and imagine you are a naive youngster who stumbled across crypto early on and finds themselves with the equivalent of 6-7 figures £/$ in a single crypto.  No tax mitigation, zero diversification.

They have sold a big chunk already oblivious to the tax liability (yes they DO exist, I have worked with IT contractors in their 20s who did precisely this with their Ltd gross income), and spent it all on cars, bikes, holidays, bling, friends and family.
Then their single holding crashes, just as a huge tax demand lands in their Inbox.

That's when I'll start chuckling.

As far as borrowing against investment gains.  I only ever, and only will ever, engage in HMRC approved avoidance.  I would never do anything where HMRC's stance is not yet known.

I've done OK.  Perhaps I could have become rich.  No idea really, I don't care enough to try to work out how much I might have made taking calculated risks.  To me, wealth is something to accumulate over a lifetime minimising downside risk.  My wife would only find way to spend anything not tied up anyway.

Link to comment
Share on other sites

17 minutes ago, hotblack42 said:

Sigh.

I'm not talking about people who research and conduct themselves properly.  Try taking a few minutes out of your carefully managed, informed personal world and imagine you are a naive youngster who stumbled across crypto early on and finds themselves with the equivalent of 6-7 figures £/$ in a single crypto.  No tax mitigation, zero diversification.

They have sold a big chunk already oblivious to the tax liability (yes they DO exist, I have worked with IT contractors in their 20s who did precisely this with their Ltd gross income), and spent it all on cars, bikes, holidays, bling, friends and family.
Then their single holding crashes, just as a huge tax demand lands in their Inbox.

That's when I'll start chuckling.

As far as borrowing against investment gains.  I only ever, and only will ever, engage in HMRC approved avoidance.  I would never do anything where HMRC's stance is not yet known.

I've done OK.  Perhaps I could have become rich.  No idea really, I don't care enough to try to work out how much I might have made taking calculated risks.  To me, wealth is something to accumulate over a lifetime minimising downside risk.  My wife would only find way to spend anything not tied up anyway.

Noobs get rekt all the time. I don’t find it chuckle-time. 

Link to comment
Share on other sites

4 minutes ago, MonsieurCopperCrutch said:

Noobs get rekt all the time. I don’t find it chuckle-time. 

Some of these guys have bought and 'hodl'd' for over 5 years whilst using online echo chambers as their sole guidance.  I know one, he's got a wife and child, and hasn't bothered to look for a new job following redundancy.  He won't listen to anyone with even a hint of skepticism about Crypto.  I think he sees it as a get out of Jail in respect of the headwinds those in their 20s and 30s now face.

He's a noob Jim, but not as we know it captain.

Link to comment
Share on other sites

1 minute ago, hotblack42 said:

Some of these guys have bought and 'hodl'd' for over 5 years whilst using online echo chambers as their sole guidance.  I know one, he's got a wife and child, and hasn't bothered to look for a new job following redundancy.  He won't listen to anyone with even a hint of skepticism about Crypto.  I think he sees it as a get out of Jail in respect of the headwinds those in their 20s and 30s now face.

He's a noob Jim, but not as we know it captain.

5 years is nothing. If it looks like a noob, walks like a noob, it’s a noob. 

Link to comment
Share on other sites

6 hours ago, Buffer Bear said:

 

 

A twitter bod posted they got wiped out - pretty much their entire next egg - and were v upset and then posted they had put on another trade albeit smaller. 🤔  Sounds rather risky to me compared to 'simply' hodling.

Traders buy tops, and sell bottoms. I have a smile every time they get rekt. 

Link to comment
Share on other sites

4 hours ago, ubuntu said:

need to change my sleeping hours, I always miss the action and dip!

Set limit buy orders on Kraken.  A $46k buy order set on the weekly 21 EMA would have been a sweet entry point. 

Link to comment
Share on other sites

20 minutes ago, hotblack42 said:

Some of these guys have bought and 'hodl'd' for over 5 years whilst using online echo chambers as their sole guidance.  I know one, he's got a wife and child, and hasn't bothered to look for a new job following redundancy.  He won't listen to anyone with even a hint of skepticism about Crypto.  I think he sees it as a get out of Jail in respect of the headwinds those in their 20s and 30s now face.

He's a noob Jim, but not as we know it captain.

I guess these people exist, maybe i am more of a long term thinker, $400 to $65k, not sold a satoshi yet,  This current "reversion" to test the 21 weekly EMA has cost me £60k in paper gainz from $65k , and i'm like "Meh".  We needed it to happen to move on to $$ six figures in Q3.  

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   1 member

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.