Post BF Upgrade Feedback - Click Here

Remove this Banner Ad

Cryptocurrency mega-thread

🥰 Love BigFooty? Join now for free.

Log in to remove this Banner Ad

Gigantic said:
It's gone up 26x for me now. I only threw in $100 which is now $2,600.

If only I had bigger balls.

I have recouped more than half my original stake already as its also returned $47 BUSD.
Click to expand...

Yeah I think the BUSD reward is a great idea, instead of extra tokens like most deflationary coins.

Good incentive to hold for longer.
 
Ghost Patrol said:
Yeah I think the BUSD reward is a great idea, instead of extra tokens like most deflationary coins.

Good incentive to hold for longer.
Click to expand...

Another one I found is AFFINITY.

affinitybsc.com

Official site of Affinity

Affinity - Dual rewards of BNB and USDC. Creators of ADAPT Peer-to-peer transaction application
affinitybsc.com affinitybsc.com

There's a huge tax on sell so disincentivises selling and incentivises holding. And it distributes BUSD and ADA.
 
Gigantic said:
Another one I found is AFFINITY.

affinitybsc.com

Official site of Affinity

Affinity - Dual rewards of BNB and USDC. Creators of ADAPT Peer-to-peer transaction application
affinitybsc.com affinitybsc.com

There's a huge tax on sell so disincentivises selling and incentivises holding. And it distributes BUSD and ADA.
Click to expand...
You gotta be careful with those rewards coins. Some of them absolutely fly whilst most dump hard or are simply scams.

You could get extremely lucky like the bloke in my post above though.
 
Fitzey said:
To late to buy into Solana, thinking of buying into it and the trend looks great. Don’t know a heap of it though.
Click to expand...
It's never too late, provided you don't ape in at an all time high.

Just don't expect hugely significant returns.

If you want to have a play but stay relatively safe, look for anything between 100m-2b MC on major exchanges. Those projects are solid enough to be listed and mostly have a strong use-case. They could blow up once their project deliverables come to fruition, just like Solana did.
 

Remove this Banner Ad

bzparkes said:
Guy I was helping out in Telegram a month ago to avoid getting scammed as he was new made $300k off a $2k investment on EverGrowCoin lol.

I should be so lucky. He did spruik it to me a few times, I should've listened.
Click to expand...

I was looking at this the other day. But I wasn’t sure about the legitimacy. Still worth a little play?
 
Chris25 said:
I was looking at this the other day. But I wasn’t sure about the legitimacy. Still worth a little play?
Click to expand...
For me personally it's a bit to high MC to bother with now. Could continue to go up of course but the major gains are done in my opinion.

Of course, it could always do a Shiba and just keep on going but the likelihood of that happening is far less than it all comes crashing down.

It's similar to SafeMoon so it'll possibly achieve a similar all time high. I don't really know much about the project though so bear that in mind.
 
CRYP ETF Proposed Top Holdings..

TickerSEDOLNameAsset ClassSectorCountryCurrencyWeight (%)
SI UNBJ1DBR4SILVERGATE CAPITAL CORPEquitiesFinancialsUnited StatesUSD
12.34%​
MARA URBLR7B52MARATHON DIGITAL HOLDINGS INCEquitiesInformation TechnologyUnited StatesUSD
11.85%​
GLXY CTBD5H1G9GALAXY DIGITAL HOLDINGS LTDEquitiesFinancialsUnited StatesCAD
11.07%​
COIN UWBMC9P69COINBASE GLOBAL INCEquitiesFinancialsUnited StatesUSD
9.84%​
MSTR UW2974329MICROSTRATEGY INCEquitiesInformation TechnologyUnited StatesUSD
9.04%​
RIOT URBD9F675RIOT BLOCKCHAIN INCEquitiesInformation TechnologyUnited StatesUSD
5.33%​
VOYG CTBL9Y6T0VOYAGER DIGITAL LTDEquitiesInformation TechnologyCanadaCAD
4.48%​
HUT CTBF11385HUT 8 MINING CORPEquitiesInformation TechnologyCanadaCAD
4.28%​
CAN UQBL4PZ46CANAAN INCEquitiesInformation TechnologyChinaUSD
3.52%​
HIVE CVBYZ9816HIVE BLOCKCHAIN TECHNOLOGIES LEquitiesInformation TechnologyCanadaCAD
3.29%​
BITF CVBGMG7B7BITFARMS LTD/CANADAEquitiesInformation TechnologyCanadaCAD
2.15%​
 
bzparkes said:
Guy I was helping out in Telegram a month ago to avoid getting scammed as he was new made $300k off a $2k investment on EverGrowCoin lol.

I should be so lucky. He did spruik it to me a few times, I should've listened.
Click to expand...
Did he end up selling?
 
Gigantic said:
Did he end up selling?
Click to expand...
Nah, he's taken some profits but he's trying to figure out what to do about tax. Told him my brother's partner's an ex-corporate lawyer and she knows the loopholes to avoid paying the 40%+ capital gains, so I'm looking into that for him (He's in Sydney).

Due to the rewards system he generates around $300 USD per day, so he's just sticking it out for now.
 
bzparkes said:
Nah, he's taken some profits but he's trying to figure out what to do about tax. Told him my brother's partner's an ex-corporate lawyer and she knows the loopholes to avoid paying the 40%+ capital gains so I'm looking into that for him (He's in Sydney).

Due to the rewards system he generates around $300 USD per day, so he's just sticking it out for now.
Click to expand...

Yeah, I'm dreading the tax implications. But it's a good problem to have at least haha.

Tax agents specialising in crypto are going to be strapped with clients next June after meme coin season has passed through.
 

🥰 Love BigFooty? Join now for free.

So for anyone keeping track i sold all my SHIB in the low 70s. Had a feeling it would continue to fall, now that everyone is scared that this bloke will dump his billions of dollars worth on the market.

Not bad in the end, 1k into about 17k.
I then chucked the whole 17k (don't tell the ATO pls) on ADA.
Why? Because I ****in hate that coin so much that it either kills me or buys me a house. So I'm chucking everything at it now.
 
Gigantic said:
Yeah, I'm dreading the tax implications. But it's a good problem to have at least haha.

Tax agents specialising in crypto are going to be strapped with clients next June after meme coin season has passed through.
Click to expand...
I'm no accountant/lawyer but the loophole revolves around setting yourself up as a company (costs $1) and making yourself the sole shareholder. You then pay yourself dividends instead of an income at the corporate tax rate of 15%, which can be then further reduced to zero.

She's done it herself for her private business and it's perfectly legal. That's how the big corporations get away with paying zero tax and the middle classes bear the brunt.
 
bzparkes said:
I'm no accountant/lawyer but the loophole revolves around setting yourself up as a company (costs $1) and making yourself the sole shareholder. You then pay yourself dividends instead of an income at the corporate tax rate of 15%, which can be then further reduced to zero.

She's done it herself for her private business and it's perfectly legal. That's how the big corporations get away with paying zero tax and the middle classes bear the brunt.
Click to expand...
Ive heard that
You buy the shares as a self managed super fund in your company
Pay dividends into that SMSF
Access when 65 or retired.
Pay less tax

NO IDEA IF TRUE
 
Pancakes said:
So for anyone keeping track i sold all my SHIB in the low 70s. Had a feeling it would continue to fall, now that everyone is scared that this bloke will dump his billions of dollars worth on the market.

Not bad in the end, 1k into about 17k.
I then chucked the whole 17k (don't tell the ATO pls) on ADA.
Why? Because I fu**in hate that coin so much that it either kills me or buys me a house. So I'm chucking everything at it now.
Click to expand...

hahaha. Well done on the gains mate thats awesome!
 
bzparkes said:
I'm no accountant/lawyer but the loophole revolves around setting yourself up as a company (costs $1) and making yourself the sole shareholder. You then pay yourself dividends instead of an income at the corporate tax rate of 15%, which can be then further reduced to zero.

She's done it herself for her private business and it's perfectly legal. That's how the big corporations get away with paying zero tax and the middle classes bear the brunt.
Click to expand...
Australian corporate tax rate is 30%, about 25% if you're under the threshold, which is the case for small and medium businesses. There's also division 7A considerations (https://www.ato.gov.au/business/private-company-benefits---division-7a-dividends/)

I'm very curious to know how you would go about it, because to me it sounds a bit more complicated to set up for an average joe.

Assuming 15% might have something to do with setting up a self managed super fund as super paid by a business into a super account is taxed at 15%.

The SMSF strategy is one that I have heard used effectively but it does mean you can't access it right away.

Another one is making voluntary super contributions to reduce taxable income for a given year, but there's caps on that.
 
Last edited:

Remove this Banner Ad

Remove this Banner Ad

🥰 Love BigFooty? Join now for free.

Back
Top Bottom