Cryptocurrency mega-thread

[Yellow Feathers]

Actually think it's somewhere between Fear and Capitulation atm.

 

[ash_1050]

Are you investing via a company you own to avoid the large chunk of personal income tax the capital growth will generate bouncing between currencies day to day, week to week, month to month etc?

I'm assuming a company would only pay 30% and only after your trading costs are deducted which is significantly better than the 45%+ an individual would on anything over about $180,000 a year.

I haven't lived in Aus for 5 years so my tax situation is different to pretty much everyone else on here.

 

[Taylor]

It was a question put to the board as a whole.

 

[Nebula1971]

I jumped on more Ethereum. Reckon it will dip more, but happy to buy in at $1263 on BTCM.


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[Quixote]

Lol! One of my mates has been at me so I dropped $500 in. Waiting for my Ferrari to be delivered.


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Do you take Datsun?

 

[prodigy]

I jumped on more Ethereum. Reckon it will dip more, but happy to buy in at $1263 on BTCM.


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Does not compute. Why not wait for it to dip more?


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[Duritz]

It was a question put to the board as a whole.

Trade through a trust

 

[Quixote]

That’s one thing that puzzles me. I see a lot of people talking market-y like “opened a small position “ and the like.

What are the dollar figures you are talking about? Everyone seems to avoid giving actual figures.


On iPhone using BigFooty.com mobile app

I think most people don't post figures as it's actually a bit crass.

 

[Quixote]

It was a question put to the board as a whole.

Move to Portugal.

 

[Taylor]

Trade through a trust

The trust has to distribute the income it earns or pay the highest tax rate on it, a collective of people making a large enough amount of money via a trust is indistinguishable from those individuals making their even share of that same money.

But, a company will only be taxed up to a max of 30% - which is slightly above an average of $100,000 per share of the trust.

So aim high.

 

[BEaston]

Outstanding rebuttal.

 

[Chief]

I think most people don't post figures as it's actually a bit crass.

Not really. It gives an idea of how much skin they have in the game.

 

[Duritz]

The trust has to distribute the income it earns or pay the highest tax rate on it, a collective of people making a large enough amount of money via a trust is indistinguishable from those individuals making their even share of that same money.

But, a company will only be taxed up to a max of 30% - which is slightly above an average of $100,000 per share of the trust.

So aim high.

If my trading on crypto gets big enough I’ll switch

 

[Taylor]

If my trading on crypto gets big enough I’ll switch

You won't be able to transfer ownership without incurring the capital gains penalty.

 

[maryjames]

I've been waiting patiently for days. Watching closely.

It's a scary time.

Naah it’s all good. Just got me more litecoin. Lol

 

[Chubberson]

Im a stay a home dad so can cash out to the tune of about 20k before I pay any substantial tax. I'm not selling my Waltonchain, its increasing in satoshi while everuthing else is getting humped like Yoshi. Me and my Walton will be like those two fossilized baby dinosaurs dying together in beautiful treesap.....or molten tar or whatever it was.....

 

[Chubberson]

Litecoin is over rated, over priced dried booger.

 

[Chubberson]

I don't Lite, when you FUD my coin around,
I don't Lite anything, anything, anything

 

[Yellow Feathers]

Im a stay a home dad so can cash out to the tune of about 20k before I pay any substantial tax. I'm not selling my Waltonchain, its increasing in satoshi while everuthing else is getting humped like Yoshi. Me and my Walton will be like those two fossilized baby dinosaurs dying together in beautiful treesap.....or molten tar or whatever it was.....

I sense a love triangle between you and Duritz

 

[Angus Young]

Come on girls, let’s go shopping!

lmaooo not me cuz im staying in ...ive already maxed out the credit cards

 

[Nebula1971]

Does not compute. Why not wait for it to dip more?


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Because I like to trade in and out. I'm hedging that there will be another rise or two before it bottoms out (completely speculative of course). Currently at $1322. I'll let this rise a little more and trade it out again.

The difference between what I believe I may make in the process and the bottom dip (which you never really get a chance to buy at unless you are watching constantly and I don't) will be greater than waiting just for the dip.

Anyone can challenge this strategy, but it has worked extremely well for me thus far.

I actually enjoy this component of trading. As I track all my movements on excel, I can itemise which deals have worked out for me and which ones haven't.

Strike rate with this strategy is comfortably outweighing just waiting.


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[Duritz]

You won't be able to transfer ownership without incurring the capital gains penalty.

Most of the exchanges are unregulated. While assets are sitting outside of ATO jurisdictions, like on exchanges or in crypto wallets, the profit isn’t yet realised. Surely if I realise profit via an account in a company name it will then incur company tax?

 

[Duritz]

Im a stay a home dad so can cash out to the tune of about 20k before I pay any substantial tax. I'm not selling my Waltonchain, its increasing in satoshi while everuthing else is getting humped like Yoshi. Me and my Walton will be like those two fossilized baby dinosaurs dying together in beautiful treesap.....or molten tar or whatever it was.....

I’ll be right there with you with my Walt’s too. I’ll never leave Walt.

 

[Duritz]

Because I like to trade in and out. I'm hedging that there will be another rise or two before it bottoms out (completely speculative of course). Currently at $1322. I'll let this rise a little more and trade it out again.

The difference between what I believe I may make in the process and the bottom dip (which you never really get a chance to buy at unless you are watching constantly and I don't) will be greater than waiting just for the dip.

Anyone can challenge this strategy, but it has worked extremely well for me thus far.

I actually enjoy this component of trading. As I track all my movements on excel, I can itemise which deals have worked out for me and which ones haven't.

Strike rate with this strategy is comfortably outweighing just waiting.


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So you’re just trying to pick small movements and trade in - out? Are you trading in and out of fiat or b/w cryptos?

 

[prodigy]

Because I like to trade in and out. I'm hedging that there will be another rise or two before it bottoms out (completely speculative of course). Currently at $1322. I'll let this rise a little more and trade it out again.

The difference between what I believe I may make in the process and the bottom dip (which you never really get a chance to buy at unless you are watching constantly and I don't) will be greater than waiting just for the dip.

Anyone can challenge this strategy, but it has worked extremely well for me thus far.

I actually enjoy this component of trading. As I track all my movements on excel, I can itemise which deals have worked out for me and which ones haven't.

Strike rate with this strategy is comfortably outweighing just waiting.


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Sent from my iPhone using Tapatalk

Well if it works for you, that’s the main thing. Good work!


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