Cyprus-Forum.com

[erolz66]

At least that produces something, crypto doesnt produce anything.

The value in crypto is in it's utility. If it allows people do do something they want to do but can not do without the crypto (or do as well or as cheaply) then it has value. Does gold produce anything ? Are you saying that gold does not have any value because gold does not produce anything ?

[Paphitis]

Buying and holding or trading crypto currency is speculation.

I am not saying that speculation is not a skill, because it is but it is speculation none the less.

It is not like buying shares in coinbase or some other company. Although that can also be considered as speculation, at least you can quantify a business's financial health and estimate value easier than you can predict future crypto currency volatility. At least that produces something, crypto doesnt produce anything.

At 30x earnings, coinbase seems too expensive at the moment, buying now would be like buying a business that you have to wait 30 years to recover your investment.

I would be interested in getting involved with coinbase instead of buying crypto but I would want to see better value.

there is a science to shares. Which the experts know how to apply to maximize gains.

Don't believe you can do that with Cryptos. It's more speculation. very difficult to predict what will happen tomorrow.

With stocks however you can. They even have an indices that does it for you - Futures.

The experts know how to apply the science very well. And know how to valuate companies to look for value and profits to earnings ratios etc.

[miltiades]

Not that long ago the " experts" were predicting Teslas downfall, well the experts do get it wrong many times. Crypto currency is here to stay, Bitcoin two years was trading well below 10 g. As for XRP., time will tell, I'm sticking with it as I believe it will rise substantially ove4 the next few years.

[Londonrake]

This sort of event won’t help Tesla:

https://www.theguardian.com/technology/ ... eat-police

.

[Kikapu]

This sort of event won’t help Tesla:

https://www.theguardian.com/technology/ ... eat-police

.

Putting things into prospective in percentage wise as all things being equal, I wonder how many other people died while hand driving their Tesla vs. the self drive (automated) ones.

I have a feeling the driver got thrown to the back seat during the crash if he was not wearing a seat belt. If he was in the back seat with a seat belt on, then that would be very puzzling.

[Kikapu]

.... not willing to risk a lot to make a 50%-100% gain with this kind of “investment”.

and for a 1000% gain ? that is the kind of gain I am looking at currently if I add up all that I spent on crypto over last three and half years and match that against all I have taken out and the current value of what I still hold.

Yes, but you came in at around $3,500, which was gutsy thing to do, so well done on that and you are riding the wave with a 1000% gain (on paper) if you were to cash in all of it, but you only cashed in only 15% worth. Perhaps I would have cashed in the 85% instead with “cash in the hand baby” and left the 15% to ride the wave. Harvesting gains is a good strategy to protect your gains and also have the cash to go back in again when the prices dip as they always do. For someone to come in now at $55,000+ in the hopes of making 50%-100% gain would be beyond gambling. Would you buy in at these rates?

Just out of curiosity, what were your total costs in taking out the 15% gains in fees and taxes (if any) on a quick “hit & run” when dealing with Crypto currencies. I know they can be quiet high when dealing with short term tradings in stocks and traditional currencies.

[Londonrake]

My Brother picked me up from Gatwick in his 100S. Incredible machine. Like a Star Trek set interior. It was a bit disconcerting when he demonstrated the self drive on the M25. Not as much though as when he pulled over then showed me the 0 - 60 in about 3 seconds. All in silence of course. Not an experience for those with heart problems.

Your undoubtedly right about the perspective. Does that matter though nowadays? About as rational as the AstraZeneca saga. 25 million shots given in the UK and you couldn’t fill a bus with those who’ve died from (so far unattributable?) blood clots. Nevertheless, lurid headlines have resulted in rejection of the vaccine by many (MORI: 55% in France). Now becoming a problem even here in Cyprus. Probably a large number of people dying unnecessarily from the virus as a consequence.

Apologies. Way off thread.

[erolz66]

[For someone to come in now at $55,000+ in the hopes of making 50%-100% gain would be beyond gambling. Would you buy in at these rates?

No I would not advise buying in now. I would wait for this cycle to peak out, which I am far from convinced it has yet. I would work out how much I am willing to gamble / lose with and split that into three. I would look to start buying in after a 50% drop with my first 'third', even if the price after that drop was far higher than the current price and then keep buying in with my second 'third' at around 75 % and third third if it goes lower than 75%.

Just out of curiosity, what were your total costs in taking out the 15% gains in fees and taxes (if any) on a quick “hit & run” when dealing with Crypto currencies. I know they can be quiet high when dealing with short term tradings in stocks and traditional currencies.

Fees on coinbase for the actual trade from cyprto to fiat are 0.5% for the kind of volumes I deal with. There is no fee to transfer sterling to a UK bank account (or euros to EU bank account) and such transfer are near instant. As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition. If I were UK tax resident which I am not, tax due would be at standard CGT rates for any increase in value from when I bought in but at the amounts I am dealing with that would be under the threshold for when such CGT taxes are due anyway.

[Kikapu]

[For someone to come in now at $55,000+ in the hopes of making 50%-100% gain would be beyond gambling. Would you buy in at these rates?

No I would not advise buying in now. I would wait for this cycle to peak out, which I am far from convinced it has yet. I would work out how much I am willing to gamble / lose with and split that into three. I would look to start buying in after a 50% drop with my first 'third', even if the price after that drop was far higher than the current price and then keep buying in with my second 'third' at around 75 % and third third if it goes lower than 75%.

Just out of curiosity, what were your total costs in taking out the 15% gains in fees and taxes (if any) on a quick “hit & run” when dealing with Crypto currencies. I know they can be quiet high when dealing with short term tradings in stocks and traditional currencies.

Fees on coinbase for the actual trade from cyprto to fiat are 0.5% for the kind of volumes I deal with. There is no fee to transfer sterling to a UK bank account (or euros to EU bank account) and such transfer are near instant. As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition. If I were UK tax resident which I am not, tax due would be at standard CGT rates for any increase in value from when I bought in but at the amounts I am dealing with that would be under the threshold for when such CGT taxes are due anyway.

WOW, you have a winning combination from low fees to no taxes on your trades. Now, that’s a good investment!

[Get Real!]

As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition.

So there you have it people... the advantages of living in a pseudo state!