04-24-2021 07:57 AM
#301
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04-24-2021 07:58 AM
#302
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04-24-2021 08:43 AM
#303
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Well, the term "wealthy" is subjective. To me you're wealthy if you own your own house, have a good income, and have savings. If on paper you're worth £250k+ with an income of £50k+ then I'd say that's wealthy. But other people consider "wealthy" to mean very comfortable, maybe £1m+, rather than merely stable and comfortable. And I'm sure there's millionaires out there who don't think they're wealthy because they strive to be billionaires. While to some people in the world, even I'm wealthy, because I have somewhere to live and don't have to worry about where my next meal is coming from. I can afford luxuries like weed and occasional holidays. It greatly depends on your point of view. | |
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04-24-2021 09:34 AM
#304
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What a load of rubbish you spout, theres usually a reason why the value is at or near 0 ......its virtually worthless because it has no value and no chance of earning any value. |
04-24-2021 10:09 AM
#305
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How much was BTC worth when it first started selling? | |
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04-24-2021 12:05 PM
#306
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Calm down, peeps. No need for the personal judgement. | |
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04-24-2021 09:31 PM
#307
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Really ? yet another example of you spouting rubbish because you're too lazy to actually listen to anyone elses argument. |
04-25-2021 03:35 AM
#308
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Anyways, where were we? | |
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04-25-2021 03:39 AM
#309
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Oh yeah, market manipulation. It's probably true you can't just fire up an army of bots on twitter and send a coin rocketing upwards. But, you could with a bit of capital, hire someone with a profile to big up your coin. Isn't Nigel Farage advertising financial advice now? I'm sure he'd shill your coin for a £1k or so. | |
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04-25-2021 04:56 AM
#310
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I don't think Farage is the man to approach, but for sure there are influencers who get involved in this kind of thing. They're supposed to be ethical and make it clear they have been paid to promote what they're shilling, but occasionally they don't. When they get found out, it's bad for the coin, because it brings into question the judgement of the developers. Again, potentially counterproductive. | |
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04-25-2021 05:34 AM
#311
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Hard to say this with confidence - you can't really compare the number who do with the number who don't, since the latter is unknown. | |
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04-25-2021 05:37 AM
#312
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04-25-2021 05:53 AM
#313
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04-25-2021 06:03 AM
#314
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04-25-2021 07:29 PM
#315
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04-25-2021 07:56 PM
#316
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Not necessarily .... most cryptos are public blockchains so all transactions can be tracked . When you can link a wallet to a fiat transfer and then access the records from the bank of who controls the account that was involved then all of that wallets transactions can be tracked. |
04-25-2021 08:01 PM
#317
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You've already addressed what I pretty much learned today. I was looking at $monero as a potential investment, after making that post funnily enough because I figured it would be the ideal coin for the purpose of hiding money from the taxman, which makes it a very appealing investment. But I also noted it took a serious price hit when one small exchange delisted it after pressure from authorities. That made me worried about the effect if a large exchange delisted it. | |
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04-25-2021 08:07 PM
#318
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I think my plan with $dent is maybe to jump out when it reaches its all time high. It hit $0.10+ in 2018, if it got there in the past of course it can do so again. So I might sell up at $0.10 if it does get there again, and put that money into another coin, perhaps bitcoin, but maybe a privacy coin like monero, or an exchange token like FTT. Long way to go before dent gets to $0.10 though, and if it gets there on the back of them getting a big contract, then I might hold for longer. Not sure. I'm not selling at current price though. | |
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04-25-2021 09:08 PM
#319
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Be careful with that thinking , the exchanges usually report the transactions to tax authorites in the clients countries (most of the larger exchanges require KYC checks before you get to trade ) otherwise they find that it becomes very hard for them to operate as banks get pressure to cut all ties preventing new funds to be deposited into the exchange and profits to be withdrawn . |
04-26-2021 08:12 AM
#320
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I'm not trying to dodge the taxman myself. I'm just thinking that a coin that allow people to dodge the taxman will be in high demand. I don't care about the "scum of the earth" using the coin. I'm not in crypto to judge other people. I'm in it to make money. I'm not sure it's easy for people to just steal your coins, monero is supposed to be secure. I'd be more worried about leaving the coins on an exchange though. | |
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05-03-2021 12:49 PM
#321
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Found this today and will help other UK guys with capital gains tax |
Last edited by Keith; 05-04-2021 at 06:19 AM. | |
05-03-2021 01:59 PM
#322
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I hope there comes a day where I have to worry about CGT. | |
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05-03-2021 09:19 PM
#323
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Also using this to get the prices to value portfolio. |
05-04-2021 02:40 PM
#324
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Wierdness from reading the manual is that UK mined coins are treated as income ......but you can offset your electric and equipments costs (i.e graphics cards) against it to reduce your income tax due. and the value when you receive the mined coins is taken as the buying price for capital gains tax purposes. |
05-04-2021 04:30 PM
#325
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Huh? I took from that manual the complete opposite - that electric and equipment were non-deductable (ie you can't offset them). | |
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05-04-2021 07:36 PM
#326
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https://www.gov.uk/hmrc-internal-man...al/crypto21150 |
Last edited by Keith; 05-04-2021 at 07:59 PM. | |
05-04-2021 08:11 PM
#327
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05-04-2021 08:13 PM
#328
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05-04-2021 08:17 PM
#329
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Current prices... buy $0.00001599 | |
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05-04-2021 08:18 PM
#330
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So I'll put an order in to sell at 1598, then when it sells put an order in to buy at 1353, and I'm printing shitcoins. | |
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05-04-2021 08:20 PM
#331
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Oh I'm probably wrong on the CGT. I scanned through it and I'm not inclined to read it again. It's not something I'll worry about until I need to, and by then I'll be happy about it. | |
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05-04-2021 08:21 PM
#332
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05-04-2021 08:51 PM
#333
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05-05-2021 11:22 AM
#334
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sold 2/3 of my exchange ada at 1.399 rest has sell orders in at 1.42 and 1.48 |
Last edited by Keith; 05-05-2021 at 11:26 AM. | |
05-05-2021 11:37 AM
#335
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What are your thoughts behind the ADA trades? Is it just swing trading, or are you short on ADA in the long run? | |
05-05-2021 12:37 PM
#336
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have a load as a long term hold on crypto wallet . this is just trading funds for short term profits . |
05-05-2021 12:52 PM
#337
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I've just bought some mooncunt. | |
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05-05-2021 02:01 PM
#338
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limit sold 28 dot @39.75, buy order for 34 dot at 34.75 placed |
Last edited by Keith; 05-05-2021 at 09:16 PM. | |
05-05-2021 07:28 PM
#339
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Tonight I worked my shitcoin to 2.3m, as soon as my last cheap buy order filled the coin pumped. | |
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05-06-2021 05:59 AM
#340
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ADA just broke through all time high and pumping |
05-06-2021 09:27 AM
#341
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I helped wreck someone last night. The coin I've been playing with is safesun, another shitcoin with a stupid name. I was selling at 2200 and buying at 1800, give or take incremental price wars with other traders. My last trade was a buy at 1811, then before I could put in a sell order the coin started pumping, quickly hitting 3000+ and peaking overnight at 10000 before settling around 6500. Imagine being that seller. | |
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05-06-2021 10:01 AM
#342
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trouble with those sorts of coins is would you really want to put any large amounts into them ? |
Last edited by Keith; 05-06-2021 at 12:43 PM. | |
05-06-2021 12:11 PM
#343
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05-06-2021 02:01 PM
#344
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these 5% swing trades im doing may not sound sexy making $50 a trade but do a 100 and you've locked in 5k of gains. as you keep making money you can then add coins that you're trading or trade larger amounts each trade for a bigger profit .its a bit like stealing the blinds from guys that fold too much . |
Last edited by Keith; 05-06-2021 at 02:04 PM. | |
05-06-2021 04:22 PM
#345
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flash drop an hour ago gave the opportunity to fill most of my buys |
Last edited by Keith; 05-06-2021 at 06:01 PM. | |
05-06-2021 05:44 PM
#346
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KSM sale was filled and placed new buy order @420 |
05-06-2021 08:52 PM
#347
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s KSM also sold @450 , buy order placed for 1.5 KSM at 380 |
Last edited by Keith; 05-07-2021 at 05:32 AM. | |
05-07-2021 09:44 AM
#348
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I'm assuming the UK has a fairly high tax free limit for capital gains tax? | |
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05-07-2021 11:17 AM
#349
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£12.5k, then CGT depends on how much income tax you pay. You could pay as little as 10%, or as much as 20%. | |
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05-07-2021 11:53 AM
#350
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hmmmm Ong is looking into capital gain tax . |
05-07-2021 12:49 PM
#351
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1000€ here. | |
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05-07-2021 12:57 PM
#352
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I can't even remember where you live. Finland? | |
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05-07-2021 02:44 PM
#353
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Yeah. We like taxing the fun out of life here. I don't know what those happiest country competitions are about. | |
05-07-2021 04:29 PM
#354
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I think it's propaganda. They first convince you you're the happiest folk in the world with the best standard of living, and then you assume it's because you're properly taxed for the better of society. Scammed. | |
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05-08-2021 12:08 AM
#355
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Keith, what exchange do you use? Ong? It seems like Coinbase or the like would evaporate any short term trade gains via fees. | |
05-08-2021 11:22 AM
#356
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I use binance and bitmart. Fees are like rake, if you're playing good poker you beat the rake. Binance fees are 0.1% (discounted if you hold $BNB), bitmart I think is 0.25%, while there's also sometimes a fee associated with the coin itself, in the case of the coin I'm playing with it's 10%. So I'm having to make around 15% profit in a sell/buy transaction pair to beat the rake. I've turned a 500k stack into 4.4m doing this, so yes you can beat the rake. | |
Last edited by OngBonga; 05-08-2021 at 11:24 AM. | |
05-08-2021 07:51 PM
#357
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I'm up to 5.3m, and I cashed out around $40 to buy into another coin so I've got a bonus investment too. It's ridiculous how easy this is. | |
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05-08-2021 07:53 PM
#358
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I made a pretty big mistake too, filling in the sell box instead of buy box, thus selling my coins a lot cheaper than I would have considered. Such a stupid mistake, it cost me nearly 1m coins. Despite that I'm nearly 1m up on the night and I have $40 in another coin. Like I say, ridiculous. $8 to $300 without the coin even pumping that much. It's pumped a bit since I bought in but that isn't where the bulk of my profits are coming from. | |
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05-08-2021 08:47 PM
#359
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What is your insight into exchanges that allows you to profit? Are you arbitraging across exchanges? Or is it as simple as buy order at X and sell order at x*>1, rinse and repeat? How do you forecast what the >1 variable will be? If it's back looking, isn't that pretty unreliable? | |
05-08-2021 08:56 PM
#360
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05-08-2021 08:58 PM
#361
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Trading at the moment is at 7% swings, not enough to profit. So I can't trade on this market right now. | |
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05-08-2021 09:02 PM
#362
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05-09-2021 12:27 PM
#363
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currently on Kraken and fees are around .14%. |
Last edited by Keith; 05-09-2021 at 01:10 PM. | |
05-09-2021 01:55 PM
#364
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I wouldn't use a bot for that very reason, but if I knew what I was doing, I could create my own bot. | |
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05-09-2021 02:17 PM
#365
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sold my trading BTC yesterday at 58950 split buys at 56800,55400, and 54000. 56800 has filled and sell order put in for 59100 |
05-09-2021 02:46 PM
#366
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Ong, how much have you made so far, and how long have you been at it, since about the start of the year? | |
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05-09-2021 02:59 PM
#367
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as an aside ...are any of you guys interested in a private discord channel . |
05-09-2021 04:28 PM
#368
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I've put around £300 of IRL funds into crypto, including some from my poker bankroll, and I'm currently worth around $2k, so that's something like £1600. I'm north of a grand up. That's since beginning of Feb. | |
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05-09-2021 04:33 PM
#369
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My safesun stack is up to 6.15m. I started with 500k. This is purely selling and then buying back cheaper, beating a 10% rake in the process. | |
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05-09-2021 05:05 PM
#370
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05-09-2021 05:08 PM
#371
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If you can find me a pub that accepts safesun as payment, then let's go! | |
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05-09-2021 05:18 PM
#372
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And if you find me one that accepts Waitrose coupons as payment I'll buy the second round! | |
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05-09-2021 05:37 PM
#373
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used my tax free cgt limit with todays ada /eth pump |
05-09-2021 05:57 PM
#374
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That's impressive, seeing as we're barely a month into the new tax year. | |
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05-09-2021 06:31 PM
#375
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