Cryptocurrency mega-thread

[BACCS]

Yeah, I keep my Bitcoin there, although I only have a few K

How are the interest returns on that? Are there any risks involved by storing on there?

 

[faible]

Let's go back to the original comment shall we:
People with small holdings are upset with Musk for market manipulation.

The point is, if you're upset with market manipulation in crypto then you didn't do your research well enough before getting into it. It's absolute standard practice and has been for years in this space. The markets are controlled by the whales. If it's a "big deal" to you that the market dipped due to manipulation, then maybe don't invest your annual wage in crypto when you're under the poverty line. It's probably not the wisest space for investment. These are the exact people that cannot afford to lose money, so they panic sell and the whales gobble it up.

I get why people are annoyed by it; you go and do some research, look at what you think will go well, buy some. Then Musk decides to be a troll and tanks the whole market, or sends a memecoin like DOGE through the roof.

It's stupid, and entertaining, but also annoying.

Can anyone shed some light on the taxing of crypto? Do you only get taxed when you cash out? Or do you get taxed on profit that's still invested?

Any trades attract CGT because they're a 'sale event' basically.

If you just buy some BTC with AUD and hold it, then you only get taxed at whatever point you sell any. Same as shares.

The main difference is with shares you trade AUD > Share > AUD whereas in crypto you can go AUD > BTC > ETH > BTC > XRP > BTC > AUD, so it's more complex.

If that process takes years, then you get taxed on the trade from BTC > ETH for example, then ETH > BTC, then BTC > XRP, then XRP > BTC etc....

So if you're regularly trading you'll need to use one of the websites available online to calculate it all.

Not a financial advisor, talk to your accountant, etc etc...

 

[LennyHayes77]

Hearing a lot of internet chatter about XCAD. From what i gather it's being made for youtubers basically and pumped by big name vloggers. Seems like it would be a good coin to get in on early while there is a lot of hype but who knows it could flop.
But it would be cool to get amongst one of thise tokens that goes up 300% in a day, sell half ans then just ride the wave from there

 

[BACCS]

Well the market didn’t really recover at all after a slight rally yesterday, everything down to where it was at the start of yesterday. Are whales not interested in these dips yet?

 

[BACCS]

For those holding long term though, do not worry, there is no data suggesting this dip is any different to what happened during the bull cycle in 2017

 

[BEaston]

Well the market didn’t really recover at all after a slight rally yesterday, everything down to where it was at the start of yesterday. Are whales not interested in these dips yet?

Possibly a lot have taken short positions. Also if the argument is that past cycles will repeat and if (big if) this is the start of the bear run then it's going to go down a hell of a lot more.

 

[HirdyLannister]

Doubled downed and got more eth at 4400, so far looking good. Let's see what happens when waking up tomorrow.

Yup, this gamble didn't pay off, down another $50 overall. oh well, time to hold and ride the wave for long term which was the plan.

 

[BACCS]

Possibly a lot have taken short positions. Also if the argument is that past cycles will repeat and if (big if) this is the start of the bear run then it's going to go down a hell of a lot more.

It does look like that this isn’t the start of of a bear run yet, it’s still only 35% below the ATH of this cycle. We had 6 of these in the 30-40 range last cycle. It also appears that the top of these cycles is very sharp, this hasn’t occurred yet. I’m remaining bullish, until history goes against us (hopefully not though!).

 

[BACCS]

Yup, this gamble didn't pay off, down another $50 overall. oh well, time to hold and ride the wave for long term which was the plan.

It’s still cheap for ETH, I wouldn’t worry. I bought about half my ETH stack at 5400, shit happens. It will get well above that mark this cycle. However, it does appear we could be in a consolidation period for the next couple of weeks at least, before one last big run towards the end of the bull cycle. So don’t be expecting too many major gains for a while.

 

[Shupe]

For any ADA holders out there - I suggest looking into Sundaeswap, the dex coming to the Cardano platform. They are running an ISO - stake your ADA and get airdropped SUNDAE tokens. It starts May 25th.

 

[Ghost Patrol]

RUNE held up well during dip, looks like it might fly soon

 

[HirdyLannister]

For any ADA holders out there - I suggest looking into Sundaeswap, the dex coming to the Cardano platform. They are running an ISO - stake your ADA and get airdropped SUNDAE tokens. It starts May 25th.

I have some ADA but I have no idea what this means, I should swapthe ADA for SUNDAE?

Sent from my CPH1607 using Tapatalk

 

[ash_1050]

Bitcoin down 32% from its ATH on April 14th.
ETH down 19.5% from its ATH on 4th May.
Total crypto market cap is down from $2.52t ATH on May 5th to $2.06t currently, a decline of 19.3%.
In market terms a correction is a decline of more than 10%, and a bear market is a decline of more than 20%.
At this point Bitcoin is in a bear market, ETH is on the cusp of a bear market and the market as a whole is only a whisker off it as well.
Tread carefully.

 

[thedreadpirateroberts]

MATIC still very strong. strap in!

 

[BACCS]

Bitcoin down 32% from its ATH on April 14th.
ETH down 19.5% from its ATH on 4th May.
Total crypto market cap is down from $2.52t ATH on May 5th to $2.06t currently, a decline of 19.3%.
In market terms a correction is a decline of more than 10%, and a bear market is a decline of more than 20%.
At this point Bitcoin is in a bear market, ETH is on the cusp of a bear market and the market as a whole is only a whisker off it as well.
Tread carefully.

I kindly disagree. This is a consolidation period before the final burst of this bull cycle. There is a rumour that Walmart have bought into BTC during the dip, that would swing the market dramatically if true.

 

[ash_1050]

I kindly disagree. This is a consolidation period before the final burst of this bull cycle. There is a rumour that Walmart have bought into BTC during the dip, that would swing the market dramatically if true.

You're disagreeing with facts, crypto is basically in a bear market at the moment and has undergone a correction. If you're going to disagree you'd be better served by posting an extensive outline of why it's still in a bull cycle, outside of posting a single 'rumour'. There's always rumours in crypto.

 

[BACCS]

Have I missed the MATIC train? I looked at it strongly this time last week, proceeds to double in that time. I might wait to see if it dips at all and try buy in then.

 

[BACCS]

You're disagreeing with facts, crypto is basically in a bear market at the moment and has undergone a correction. If you're going to disagree you'd be better served by posting an extensive outline of why it's still in a bull cycle, outside of posting a single 'rumour'. There's always rumours in crypto.

I posted a video on the page before with people a lot smarter than us analysing this current trend vs previous cycles. This situation happened just before the final big pump in 2017, that is fact. When you get time, watch the video and see if you have the same opinion.

 

[ash_1050]

I posted a video on the page before with people a lot smarter than us analysing this current trend vs previous cycles. This situation happened just before the final big pump in 2017, that is fact. When you get time, watch the video and see if you have the same opinion.

'Watch a video' isn't any form of a response, you're parroting things and thus it's on you to explain it in your own words. If you can't explain it in your own words then you don't fully understand the topic.

A week ago you were posting noob questions like "What’s a ledger?" and "Is it any less safe holding your crypto on an exchange vs a hard wallet? What if you lose your key to the hard wallet?" and now all of a sudden because you watched a video you're able to accurately predict the cycles of crypto markets? You're being taken for an absolute ride here and you'll end up losing money.

Still awaiting your case for why it's in a bull cycle, when, by any definition, it's not.

 

[maryjames]

Summary of the above video:
This bull run likely to end in September/October
The current dips are similar to what we have seen during previous bull cycles
All indications are based on previous bull cycles is that the final big surge for all cryptos is coming very soon, before a correction as the bull cycle ends
If you can afford it, this would be the time to buy

I’m shifting my time line on this bull market.

Every bull market is getting a lot longer and I’m starting to think we going well in 2022. As long bitcoin doesn’t go crazy blow off top earlier.

Bookmark post. Lol

 

[ash_1050]

Also I'm assuming your 'wicket smart video man' is saying something along the lines of:
The 2017 bull run took the market cap from approx $98b to approx $818b, a rise of 8.3x.
The 2021 bull run has gone from $372b approx to $2.58t approx, a rise of 6.9x.
tHaT MeAnS ThAt tHeRe's sTiLl gRoWtH In tHiS BuLl cYcLe

People who have made a stack of cash after accumulating 2018-2020 are now offloading to suckers like you who had absolutely no idea about the crypto market prior to April 2021 but took the plunge after seeing Elon Musk's Tweets. Hook line and sinker.

 

[BACCS]

'Watch a video' isn't any form of a response, you're parroting things and thus it's on you to explain it in your own words. If you can't explain it in your own words then you don't fully understand the topic.

A week ago you were posting noob questions like "What’s a ledger?" and "Is it any less safe holding your crypto on an exchange vs a hard wallet? What if you lose your key to the hard wallet?" and now all of a sudden because you watched a video you're able to accurately predict the cycles of crypto markets? You're being taken for an absolute ride here and you'll end up losing money.

Still awaiting your case for why it's in a bull cycle, when, by any definition, it's not.

Yeah I was asking questions a week ago, I have since done a lot of research from a variety of sources (not just videos) and have analysed the graphs myself as well. I was just referring to the video as they summarise it already, your call if you want to ignore it. No need to get aggressive.

 

[BACCS]

Also I'm assuming your 'wicket smart video man' is saying something along the lines of:
The 2017 bull run took the market cap from approx $98b to approx $818b, a rise of 8.3x.
The 2021 bull run has gone from $372b approx to $2.58t approx, a rise of 6.9x.
tHaT MeAnS ThAt tHeRe's sTiLl gRoWtH In tHiS BuLl cYcLe

People who have made a stack of cash after accumulating 2018-2020 are now offloading to suckers like you who had absolutely no idea about the crypto market prior to April 2021 but took the plunge after seeing Elon Musk's Tweets. Hook line and sinker.

Not even close to what the video talks about, so stop posting false information based on assumptions.

 

[BACCS]

I’m shifting my time line on this bull market.

Every bull market is getting a lot longer and I’m starting to think we going well in 2022. As long bitcoin doesn’t go crazy blow off top earlier.

Bookmark post. Lol

You aren’t the only one with that opinion. Some think this cycle will still end around September this year, but recommence for a 3 month period in May next year.

 

[Bostonian]

Gero wallet coming out soon for the ADA fans.