Cryptocurrencies (Poll & Discussion)

Pogba is into Crypto or just making cash in an advert but one line in this article did make me chuckle. :rofl:

This sounds very much like a conversation I once had with myself in a barn in Herefordshire after eating too much hash yoghurt during my only foray into illegal substances.

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A sad day for the Crypto world!

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For someone that got into crypto investing in late 2020, it’s interesting reading people’s posts from 2018. I wonder how many held their coins through the years, congrats to those who have :money_mouth_face:

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Hi all. In view of the recent dip, I’ve just bought some Crypto (split 70% Bitcoin, 30% Ethereum, no specific rationale for that split!). Interesting poll back in the day (above) that suggests lots of people have dabbled in this.

Would appreciate any current thoughts/ observations, mainly because of the possibility of my wife killing me if it goes south :grinning_face_with_smiling_eyes:. I’m not sure if the supposed “regulation” will help or hinder the price longer term for example.

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Impossible to say really, Pro crypto people swear it will only go up and many including BoE say it could go down to zero. Both sides have intelligent people who believe the opposite. Who will be right? God knows.

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If only we knew the future… but as it stands I’m pro crypto and a 70/30 split between Bitcoin and ETH is a sound move. Most of my holdings are in these two with a little cardano and solana and a touch of CRO and SHIB for fun.

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Directly from the horse mouth:

Someone posted this video on the forum a while ago, I think is a great explanation of where the space is heading - I am biased pro crypto and so is the guy in the video Raoul Pal.

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Any one else here get a ‘crypto nudge letter’ from HMRC

https://www.ft.com/content/bd8c6f15-80b0-4e8a-a565-2e8ccca99d78

So, I got one last week and to be fair, it got the desired result, cause I sat down over the weekend and went over my crypto investments to see whether I owed any CGT

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So if its not an illegal scammer trying to take your money then its a legal scammer trying take your money. HMRC want a cut of the profits for taking no risk and refusing to regulate and offer any type of compensation scheme if things go pair shape. Government say don’t invest in bitcoin you could get burnt but hold their hand open and say give me money or else.

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TBF why should crypto gains be tax free? Seems only sensible they are taxed. Many use it solely to avoid it so I have no issues with it being treated that way. For crypto to be accepted by governments it is going to need to be transparent and taxed in the long run. I mean you would have to be some dumb assed country to allow it not to be taxed.

On a slightly different note, this is a very bad direction for crypto :grimacing: It seems whenever there is good news or potential something comes along and makes you think “God crypto is dumb and we don’t need it”

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As a tax accountant I can confirm these are hitting doormats across the country.

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Whether or not you are an old Fuddy Duddy like I am you should read

(btw, reading Lucy Kellaway is always great)

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The coin they invest in is “Koda” :rofl: or have I got that wrong…

Yep, dropped 42% since last November

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Yikes!

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