Cryptocurrency mega-thread

[BACCS]

Here are some charts from the video I was referring to earlier (approx 36 minute to 44 minute mark of the video):


There is another couple of graphs in the presentation as well that go into how the peak of every bull cycle has been sharp, this hasn't been seen this cycle yet. He also talks about corrections of 30+% within bull cycles. It's 8 minutes out of your day, I highly recommend watching for anyone.

 

[Ghost Patrol]

Swapped some $CAKE for $COPTER

$1.5m market cap

https://poocoin.app/tokens/0xbc12ad556581ff7162e595e5956f5f3845fdb38c

https://helicopterfinance.co/

 

[bzparkes]

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

Around 5% or thereabouts. No risks, they're backed by Gemini trust company which is a regulated company in New York. They keep the majority of funds offline so risk of having your wallet empty is next to none. If you've got a large stack then you may as well keep it there doing something considering you get paid in Bitcoin. You can also choose to have crypto paid out in other currencies if you wish. Good spot also to keep any USDC during the bear market as you'll get around 8% PA on that also.

 

[bzparkes]

We could very well be heading into a bear market but 2017 also didn't have twat like Elon Musk using his stance as the richest man in the world to manipulate the market.

Yes, I understand there are plenty of Whales who PnD and manipulate coins but when one of the world's most famous people publicly uses his influence to steer people to and from particular coins, then it's very hard to tell what kind of market we're in.

Regardless, entering crypto shouldn't be for quick gains anyway. Just because some people manage to do it, doesn't mean everyone will. Find an undervalued project you believe in and invest what you can afford to lose and check your gains in 2-3 years time.

The current Crypto markets are worth around 1% of the world's financial market and there are estimates that it will make up a third by 2025, that's an extra $30 trillion dollars heading into the market, primarily toward BTC and ETH.

Sell both of those now if you desperately need the capital, but you shouldn't be investing in Crypto in the first place if that capital was desperately needed.

Millionaires are mostly made in bear markets, not bull runs.

 

[00Stinger]

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.



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...

I don't think trading AUD > BTC > ETH > BTC ext really makes much of a difference as the cost base would be the same as the original AU.

The thing that surprised me when I did look into it is even if your crypto grows and you use that money to buy an item you are still going to be up for CGT as crypto isn't considered a currency by the ATO

 

[William Wonka]

I just picked up some ASS, hopefully it moons again

I felt immediate shame the second I sold my ASS.

 

[Gingerbread man]

Just sold half my MATIC and taken a profit

 

[BACCS]

Just sold half my MATIC and taken a profit

How early did you get in?

 

[Shupe]

I chucked $100 into $ROVER. Didn't do much, went up to $300-$400 so I took it out yesterday to top up my LUNA. The reason I take some fliers on these coins is to re-invest in the solid projects that I like.

It shot up 11000% today. Dammit.

 

[Gingerbread man]

How early did you get in?

Bought in only a week ago at $1.40 and sold 1/2 out at $2.80

 

[BACCS]

I chucked $100 into $ROVER. Didn't do much, went up to $300-$400 so I took it out yesterday to top up my LUNA. The reason I take some fliers on these coins is to re-invest in the solid projects that I like.

It shot up 11000% today. Dammit.

Are you doing this through that platform you mentioned above?

 

[Bostonian]

I chucked $100 into $ROVER. Didn't do much, went up to $300-$400 so I took it out yesterday to top up my LUNA. The reason I take some fliers on these coins is to re-invest in the solid projects that I like.

It shot up 11000% today. Dammit.

LUNA is wonderful.

 

[Shupe]

LUNA is wonderful.

I can't stop buying. I love everything about it.

 

[Shupe]

Are you doing this through that platform you mentioned above?

No, these shitty meme coins are only available through DEX's (Uniswap, Pancakeswap).

That said, you're more likely to lose all your money than to make $10k, so it's certainly not for beginners.

 

[Bostonian]

I can't stop buying. I love everything about it.

At these prices I've been doing that with LUNA and LINK.

I got rid of all my VET to add to those two holdings.

 

[BEaston]

We could very well be heading into a bear market but 2017 also didn't have twat like Elon Musk using his stance as the richest man in the world to manipulate the market.

It might not have had Elon Musk in 2017, but market cap was smaller then so less famous people were still easily influencing the market to the same degree. There were the McAfees and others that did it then. Musk is just repeating the same formula.

 

[bzparkes]

It might not have had Elon Musk in 2017, but market cap was smaller then so less famous people were still easily influencing the market to the same degree. There were the McAfees and others that did it then. Musk is just repeating the same formula.

Of course he is but it just invites bigger gains and bigger losses really. The issue with him is that he's making new investors believe it's mainstream and safe because they believe his word, when in reality it is anything but.

 

[RowellAnderson12]

My ex boss got me onto BTCmarkets and got me to get on XRP in 2018, Been holding since.

Just a few questions to ask because i haven't been following as sharply as you guys.
- is BTCmarkets reliable to withdraw?
- Should i use another website?
- Is it easy to XRP to AUD into my bank account?
- xrp looks like its going up, anyone got a quick summary for me please?
- anything better than XRP i could possibility look into?

thank sorry for the newbie questions, i feel you guys may be better help than a group of 100k on facebook

 

[Bostonian]

Gero wallet coming out soon for the ADA fans.

This is having a great first day. Wish I'd grabbed a bigger bag of it.

 

[maryjames]

If bitcoin can play good AAVE is gonna go off.

 

[thedreadpirateroberts]

Just sold half my MATIC and taken a profit

dont plan on taking any profit till $5 pending any unforseen changes etc

 

[BACCS]

If bitcoin can play good AAVE is gonna go off.

What has you so bullish about it? Besides the obvious upward trend atm

 

[maryjames]

What has you so bullish about it? Besides the obvious upward trend atm

Coz i’m Hugely invested, lol

Naah it’s got it’s cape on and about to go.. no other reason, lol 1500 target coming up. Let’s see.

Also ripple is ripe just did my analyse...

 

[BACCS]

Coz i’m Hugely invested, lol

Naah it’s got it’s cape on and about to go.. no other reason, lol 1500 target coming up. Let’s see.

Also ripple is ripe just did my analyse...

View attachment 1131113

I’m not so sure Ripple is ready just yet, it showed good signs last week and got to about where it is now, only to drop again. I am keen, but will wait just that bit longer...

 

[BACCS]