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Cryptocurrency mega-thread

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The Dice Man said:
40%? o_O o_O o_O o_O o_O

What risk did the Government take to earn such profits? Surely there's ways around that. I believe I'm taxed at 30% where I am.

Does anyone know what happens tax wise if you move countries to a more friendly nation?
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They are crooks down here.
You have to either hold an investment for more than 12 months, or get very creative, to get around the dirty government and their greedy fingers.

Sure they'll pay Harvey Norman millions in jobkeeper and let them keep it all despite massive profits, but if average joe wants to make a couple of bucks on the asx or crypto then they gotta give those campaigners in Canberra a massive chunk.
 
Coinbase has crashed so people are trying to sell their SHIB and they can't.
Now SHIB is dropping a bit (10% in 30 minutes) and people are getting angry.

Will be interesting to see if SHIB flies back up again after this dip.
 

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I FOMO bought a million SHIB back at the start of the month


Sold it this morning - so surely it will spike again now?
 
Not sure what to make of this market right now. SHIB continues to pump as the rest of the market is down 5-10%? Can anyone on here remember a period like this earlier this year with DOGE?
 
BACCS said:
Not sure what to make of this market right now. SHIB continues to pump as the rest of the market is down 5-10%? Can anyone on here remember a period like this earlier this year with DOGE?
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Not like this. This thing has nearly doubled in the past week
 
There just has to be a tipping point where these profits (from the experienced traders) flows into other coins, surely this is close?
 

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BACCS said:
There just has to be a tipping point where these profits (from the experienced traders) flows into other coins, surely this is close?
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If you have seen SHIB twitter, you will know they aren't experienced traders.

Floki will probably flip shib, Dec/Jan is my guess. Or whenever the Valhalla game launches, as you will be able to earn floki by playing it.

Floki is meme/game/nft, has potential to be huge.
 
The Dice Man said:
40%? o_O o_O o_O o_O o_O

What risk did the Government take to earn such profits? Surely there's ways around that. I believe I'm taxed at 30% where I am.

Does anyone know what happens tax wise if you move countries to a more friendly nation?
Click to expand...

Best scenario is you have a registered business with a fixed address in a tax haven and then do all your trading through that company.
 
Ghost Patrol said:
If you have seen SHIB twitter, you will know they aren't experienced traders.

Floki will probably flip shib, Dec/Jan is my guess. Or whenever the Valhalla game launches, as you will be able to earn floki by playing it.

Floki is meme/game/nft, has potential to be huge.
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Oh I have seen SHIB Twitter, it aint pretty. There would have to be some more experienced traders exploiting these pumps though, so whenever they decide to sell it could trigger a pretty quick price drop.
 
The Dice Man said:
40%? o_O o_O o_O o_O o_O

What risk did the Government take to earn such profits? Surely there's ways around that. I believe I'm taxed at 30% where I am.

Does anyone know what happens tax wise if you move countries to a more friendly nation?
Click to expand...
If you hold it for 12 months you only get taxed on 50% of the profits.

Australian income tax rates for 2020–21 and 2021–22 (residents)

Income thresholdsRateTax payable on this income
$0 – $18,2000%Nil
$18,201 – $45,00019%19c for each $1 over $18,200
$45,001 – $120,00032.5%$5,092 plus 32.5c for each $1 over $45,000
$120,001 – $180,00037%$29,467 plus 37c for each $1 over $120,000
$180,001 and over45%$51,667 plus 45c for each $1 over $180,000
 
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BACCS said:
Wow, if that is true. However, that is basically the equivalent of winning the lottery and 99.99% of people that had even heard of SHIB last August would’ve sold well before now. But hey, even buying at the start of this month for an easy 10x is pretty nice!
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Haha yeah, it's utterly insane.
 
It doesn’t sound like there would be enough liquidity for that wallet to sell all of his SHIB and actually pocket 5B without tanking the price (it’s roughly 20% of the supply). They would still walk away with millions though.
 
BACCS said:
It doesn’t sound like there would be enough liquidity for that wallet to sell all of his SHIB and actually pocket 5B without tanking the price (it’s roughly 20% of the supply). They would still walk away with millions though.
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Nah, no way they'd be able to cash out that amount. You'd just sell in $10m chunks over the next year or so, otherwise you'd just ruin the token.
 
Ghost Patrol said:
Are we sure that isn't a dev, cex or dex wallet?

Vitalik was given a stupid amount of shib right at the start. He sold a heap (which is why it crashed a few months back) and donated the rest to charity.
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Didn't he burn a heap also, or was that someone else?
I'm sure i read that someone burned a heap of SHIB, to improve the price of what was left.
 

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