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  1. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    what do you think you are taxed on then? remember the tax system works on where you are tax resident, not where you physically locate (though normally the same). if you dispose of assets overseas you are still liable for taxes in UK if tax resident. lots of precedent is set with currency and...
  2. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    completing records for tax purposes is a very special experience. i've been trying to make staking show properly, lots of manual additions, tweeks, placeholders to cover the odd stuff. in the end get to something that looks right and defendable. it doesnt help that some contracts will swap...
  3. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    will be second by end of this cycle, in mid-late 2025. with the alt market probably about same again.
  4. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    that's clever until John down the road spots your new Lambo and make a phone call to HMRC. declaring and paying the 20% is lot easier, and you get to write off the loses along the way.
  5. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    or just buy Any Inu on the thesis 1) the ticker is AI, everyone is buying AI, and 2) it comes up second result when searching for AI crypto coins, 3) it's available cross chain. they might do some functionality too. easy $1bn by summer.
  6. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    not if you buy on the secondary market. you are providing liquidity to that market, an exit for the other holders. most the markets are trading and producing this liquidity, not the initial captial raise. the utility is the market, without which it would be more risky to provide the initial...
  7. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    i had a large unrealised loss from the top last cycle, but having put very little in probably not what you are thinking of. there are plenty of failures, usually from exuberance, overconfidence or mis-timing the market (buying at the top).
  8. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    yes. that's the point i'm making.
  9. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    which coin? BTC? there are many others. one day you realise the utility of crypto is to fund projects and be traded, that in itself creates utility. most of the financial markets are much the same, turning over trillions of value moving stocks, bonds, currencies around, many times more than...
  10. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    you'll need some online crypto tracker with tax report. like Koinly or Recap. setup an API key (simple enough, loads of guides) for each exchange. you could setup manual imports based on exported csv from the exchanges, thats a ball ache unless you want to alter things. for on chain just...
  11. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    Cathie Wood, of Ark Invest a very large fund, predicts $1.5million price by 2030. which would be nice.
  12. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    there's no pressure on funds to invest into anything. they have their investment strategy, their analysts pick accordingly. a pension fund wants regular returns so will be picking bonds and high dividend stocks. a growth fund want high capital increase so will be investing in latetst tech...
  13. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    the next financial crisis will be from the huge, ever-growing government debt being built up by countries. just like early 2000's looks like we've dodge major recession, in the next decade politicans will convince themselves there's some new economic alchemy.
  14. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    SEC approved the ETF's yesturday. dodgy press and manipulation of prices happens in other markets. this is no more poisonus than investing in mineral exploration.
  15. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    you'll be able to buy Bitcoin in your ISA or SIPP, or at least USians will in their equivalent for now. opens up a very large pool of investors, they only need to put in odd % for that to lead to large billions to flow in.
  16. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    ouch. kinda calls into question purpose of HW wallets if they can compromised like this. have to watch those signatures, been caught myself
  17. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    you might already be too late if not reporting last couple of years, here goes. you need to know you dont just count the money into crypto exchanges and coming out. you count every single crypto transaction, treated as an asset sale. as assets they come under Capital Gains Tax, not income. if...
  18. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    Sell at the top. Coinbase and miners (Marathon, Riot, Clearspark) can be bought and held in ISA for tax efficent gains.
  19. beorhthelm

    [Finance] The cryptocurrency (Bitcoin etc) thread

    pretty tenuous. it's like suing Michael Buble because they got fat eating too many Asda mince pies.
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