BITCOIN

Scottex99

benbay001 said:

Scottex99 said:

benbay001 said:

Scottex99 said:

I'd never say never but at this stage with big corps getting in and JPM, Citi etc etc all having a look I'd say highly unlikely now.

Wait, what? JPM and Citi are holding crypto?

Lol, and it all starts making sense....

Do you think we just make stuff up? Everyone with half a brain has/is going to try to buy BTC

Nope, i just wanted a link to an article that spelt out that actually, JPM and Citi arent buying crypto, but are actually simply offering crypto as an investment vehicle to clients. A whole world of difference.
No different really than them offering clients soy bean futures. It doesnt mean they are bullish on the futures of soybeans.

Scottex99 said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Hahaha, well thats pretty fckn boring and we need a timescale to have this bet too.
By 01/01/2023 if BTC hasn't gone to $0, you pay my charity £1k, I do the same for you if it does

Make the date 2033, and the target price no higher than it is today. Id take that.

You honestly think that giant banks are offering BTC to clients and not taking a position in it themselves? The fastest growing asset of all time? The hardest form of decentralised money that that there is? Cool.

I dont mind coming back here to gloat at any time but i'd draw the line at 12 years from now. 

I'll make it easier then, BTC goes under $20k ever again, someone just @ me here and I'll give a grand to charity. I'll probably do similar at $100k too, just for fun

Scottex99

Happy to hear any decent suggestions, I'll do some googling when BTC is at $95k

HansOndabush

Scottex99 said:

benbay001 said:

Scottex99 said:

benbay001 said:

Scottex99 said:

I'd never say never but at this stage with big corps getting in and JPM, Citi etc etc all having a look I'd say highly unlikely now.

Wait, what? JPM and Citi are holding crypto?

Lol, and it all starts making sense....

Do you think we just make stuff up? Everyone with half a brain has/is going to try to buy BTC

Nope, i just wanted a link to an article that spelt out that actually, JPM and Citi arent buying crypto, but are actually simply offering crypto as an investment vehicle to clients. A whole world of difference.
No different really than them offering clients soy bean futures. It doesnt mean they are bullish on the futures of soybeans.

Scottex99 said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Hahaha, well thats pretty fckn boring and we need a timescale to have this bet too.
By 01/01/2023 if BTC hasn't gone to $0, you pay my charity £1k, I do the same for you if it does

Make the date 2033, and the target price no higher than it is today. Id take that.

You honestly think that giant banks are offering BTC to clients and not taking a position in it themselves? The fastest growing asset of all time? The hardest form of decentralised money that that there is? Cool

Hard money is gold and silver. Hint 'hard i.e. not a paper IOU or some number in the ether. Look up the original definition of hard money; you will also find the definition includes 'stable' such that you can transact with for goods and services. Bitcoin does not meet that criteria. I can show you a gold sovereign in my hand, that is hard money; you can't show me a Bitcoin in your hand, only some number on a computer.
Bitcoin is being touted as hard money and a store of value, neither of which are strictly true. 

Scottex99

HansOndabush said:

Scottex99 said:

benbay001 said:

Scottex99 said:

benbay001 said:

Scottex99 said:

I'd never say never but at this stage with big corps getting in and JPM, Citi etc etc all having a look I'd say highly unlikely now.

Wait, what? JPM and Citi are holding crypto?

Lol, and it all starts making sense....

Do you think we just make stuff up? Everyone with half a brain has/is going to try to buy BTC

Nope, i just wanted a link to an article that spelt out that actually, JPM and Citi arent buying crypto, but are actually simply offering crypto as an investment vehicle to clients. A whole world of difference.
No different really than them offering clients soy bean futures. It doesnt mean they are bullish on the futures of soybeans.

Scottex99 said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Hahaha, well thats pretty fckn boring and we need a timescale to have this bet too.
By 01/01/2023 if BTC hasn't gone to $0, you pay my charity £1k, I do the same for you if it does

Make the date 2033, and the target price no higher than it is today. Id take that.

You honestly think that giant banks are offering BTC to clients and not taking a position in it themselves? The fastest growing asset of all time? The hardest form of decentralised money that that there is? Cool

Hard money is gold and silver. Hint 'hard i.e. not a paper IOU or some number in the ether. Look up the original definition of hard money; you will also find the definition includes 'stable' such that you can transact with for goods and services. Bitcoin does not meet that criteria. I can show you a gold sovereign in my hand, that is hard money; you can't show me a Bitcoin in your hand, only some number on a computer.
Bitcoin is being touted as hard money and a store of value, neither of which are strictly true. 

You're a lost cause mate, all of this has been answered about 40 times in this thread alone.

Your argument is it has no fundamental value, it may go to $100k or $1m but it's certainly going to 0, you're just not sure exactly when? 

We get it, you're never going to get involved, you don't need to keep telling us. Just let us crack on and you can sit on the sidelines wondering what is happening. 

HFSP  

thegentleway

Scottex99 said:

Happy to hear any decent suggestions, I'll do some googling when BTC is at $95k

I would suggest the high impact and cost effective charities (supported with lots of evidence) that GiveWell highlight:
https://www.givewell.org/charities/top-charities

[Deleted User]

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Have fun staying poor then, while we enjoy our millions. There’s a sucker born every minute. 😄

IanManc

patient_investor said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Have fun staying poor then, while we enjoy our millions. There’s a sucker born every minute. 😄

That comment might just come back to bite you.  🤨

P1

darren232002 said:

[Deleted User] said:

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC) admitted that Bitcoin was a “store of value”.

What now? 🧐 World renowned experts on MSE forums said, that it has no intrinsic value and it's not good store of value. We should reach SEC chairman as soon as possible, he can't possibly be right about this. It's been fact checked by forum experts. 🤨

Gensler taught a course at MIT on cryptocurrency. The lectures are on YouTube and are a very good exploration of the subject. Him being appointed SEC chair has always been a good thing for Bitcoin, despite countless people on here still insisting that the government will ban it (which as already mentioned is impossible due to technical considerations and game theory implications anyway).

P1 said:

Remember Capital Gains Tax!  Its going to suck this year.  And the student loans

You only pay CGT when you sell or create a taxable event (trading it in for another asset). If you don't sell, you don't pay CGT. I have already stated on here that there are plenty of defi apps that will give you a 1% APR loan against your BTC if you need liquidity (At 25% LTV). My understanding is that this is not a taxable event.

The one thing I agree with Donald Trump on is that not paying taxes makes you smart. Sure, rich people pay nominally more tax; but as you go up the income ladder the average tax rate declines because people are more incentivised to find (legal) ways to reduce their tax bill.

If you have a considerable amount of BTC I would now be looking in to ways to minimise your tax liability on a time frame appropriate to your investment horizon. Personally, I am lucky to be able to have a job that I can do more or less anywhere in the world, so I will become tax resident in another country before disposing of significant chunks of my digital assets.

Portugal has 0% capital gains for cryptocurrency, but I'll be unable to bring funds back to the UK for 5 years.  In my 20's it would certainly make sense.  I'm about to turn 40.  Its a tough one.   It would be typical if everyone pays savage taxes this time, for the UK to then try and take advantage of regulatory arbitrage and be more tax friendly for cryptocurrencies over the next few years.

benbay001

[Deleted User] said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Have fun staying poor then, while we enjoy our millions. There’s a sucker born every minute. 😄

Ive asked before and will ask again. Your new found millions will be coming from somewhere, so who is on the losing side of your transaction in this zero sum game?

Scottex99 said:

Happy to hear any decent suggestions, I'll do some googling when BTC is at $95k

A gambling charity would be the most appropriate.

HansOndabush

[Deleted User] said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Have fun staying poor then, while we enjoy our millions. There’s a sucker born every minute. 😄

You're so brainwashed you can no longer think for yourself but only parrot the crypto mantra HFSP; sad really.