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Shedite
Jack Charlton
Joined: 09 Dec 2011
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Posted: 26 Mar 2021 at 4:54pm |
NewtNewbie wrote:
Shedite wrote:
Bob Hoskins wrote:
For anyone that's interested in the Decentralised Finance (Defi) here is an article going through some of best options. Some of the interest rates you can get are huge.
As this is so new there are risks with hacks and also the services been offered by dodgy companies etc so if you do avail of these type of services do your research on them etc.
| Bankless is a good site for that stuff, they'd Mark Cuban on their podcast a few weeks back. I had to listen to it 3 times to understand it all but he has some cracking ideas about where Blockchain/DeFi is going. It's episode 54 of "Bankless" if anyone fancies it |
How can cryptocurrencies work and be the future and sustainable when orthadoxic economic beliefs tell us that for fiat currencies to work they need to be taxed, otherwise Weimer Republic-style hyperinflation takes hold?
Outside of the UK, aren't cryptocurrencies mostly lightly taxed?
How can bitcoin, and the like, hold any long-term value, then? Surely any gains you make can only be based on short-term speculation.
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Cryptocurrencies are massively taxed, via CGT. If I got to buy a Tesla with a Bitcoin (as they currently advertise), I'd have to pay Capital Gains Tax on the movement of Bitcoin since I bought it. That's one of the main reasons I don't see it as a currency any time soon.
Crypto is an asset, like Gold, and it has a limited number. The more people that want that limited number, the higher the price will go. Gold only has a value because people want it, and that's survived hundreds of years as a store of value. Everything else in our lives has gone digital, why not our asses/gold.
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NewtNewbie
Liam Brady
Joined: 05 Feb 2013
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Posted: 26 Mar 2021 at 7:30pm |
Shedite wrote:
NewtNewbie wrote:
Shedite wrote:
Bob Hoskins wrote:
For anyone that's interested in the Decentralised Finance (Defi) here is an article going through some of best options. Some of the interest rates you can get are huge.
As this is so new there are risks with hacks and also the services been offered by dodgy companies etc so if you do avail of these type of services do your research on them etc.
| Bankless is a good site for that stuff, they'd Mark Cuban on their podcast a few weeks back. I had to listen to it 3 times to understand it all but he has some cracking ideas about where Blockchain/DeFi is going. It's episode 54 of "Bankless" if anyone fancies it |
How can cryptocurrencies work and be the future and sustainable when orthadoxic economic beliefs tell us that for fiat currencies to work they need to be taxed, otherwise Weimer Republic-style hyperinflation takes hold?
Outside of the UK, aren't cryptocurrencies mostly lightly taxed?
How can bitcoin, and the like, hold any long-term value, then? Surely any gains you make can only be based on short-term speculation.
| Cryptocurrencies are massively taxed, via CGT. If I got to buy a Tesla with a Bitcoin (as they currently advertise), I'd have to pay Capital Gains Tax on the movement of Bitcoin since I bought it. That's one of the main reasons I don't see it as a currency any time soon.
Crypto is an asset, like Gold, and it has a limited number. The more people that want that limited number, the higher the price will go. Gold only has a value because people want it, and that's survived hundreds of years as a store of value. Everything else in our lives has gone digital, why not our asses/gold |
But gold has tangible and immutable value.
I had a friend at work who invested in various cryptocurrencies but he had to do enormous, regular and exhaustive research. And even then the gains were relatively slim.
Edited by NewtNewbie - 26 Mar 2021 at 7:34pm
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Shedite
Jack Charlton
Joined: 09 Dec 2011
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Points: 7884
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Posted: 26 Mar 2021 at 8:05pm |
NewtNewbie wrote:
Shedite wrote:
NewtNewbie wrote:
Shedite wrote:
Bob Hoskins wrote:
For anyone that's interested in the Decentralised Finance (Defi) here is an article going through some of best options. Some of the interest rates you can get are huge.
As this is so new there are risks with hacks and also the services been offered by dodgy companies etc so if you do avail of these type of services do your research on them etc.
| Bankless is a good site for that stuff, they'd Mark Cuban on their podcast a few weeks back. I had to listen to it 3 times to understand it all but he has some cracking ideas about where Blockchain/DeFi is going. It's episode 54 of "Bankless" if anyone fancies it |
How can cryptocurrencies work and be the future and sustainable when orthadoxic economic beliefs tell us that for fiat currencies to work they need to be taxed, otherwise Weimer Republic-style hyperinflation takes hold?
Outside of the UK, aren't cryptocurrencies mostly lightly taxed?
How can bitcoin, and the like, hold any long-term value, then? Surely any gains you make can only be based on short-term speculation.
| Cryptocurrencies are massively taxed, via CGT. If I got to buy a Tesla with a Bitcoin (as they currently advertise), I'd have to pay Capital Gains Tax on the movement of Bitcoin since I bought it. That's one of the main reasons I don't see it as a currency any time soon.
Crypto is an asset, like Gold, and it has a limited number. The more people that want that limited number, the higher the price will go. Gold only has a value because people want it, and that's survived hundreds of years as a store of value. Everything else in our lives has gone digital, why not our asses/gold | But gold has tangible and immutable value.
I had a friend at work who invested in various cryptocurrencies but he had to do enormous, regular and exhaustive research. And even then the gains were relatively slim.
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I'm not sure the industrial usage of gold would warrant it being however many thousand a kilo it is these days. It's used a bit in engines, and aerospace, after that it's mainly jewellery again where it's only valuable because people say it's valued.
Yeah very hard to see where the millions will be made in crypto. I invest through a company called KR1. They're basically investors in a bunch of different crypto initiatives, so you're buying a stake in loats of crypto initiatives and crypto coins. LEave someone more clever than me to figure it out.
The main point of crypto and DeFi is making everything public and moving away from corporations. In some ways, the success of crypto may be making lots of things cheaper/free, so it may be a revolution that nobody in particular makes billions.
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AntrimMan
Jack Charlton
YBIG's resident Nordy/London Hipster
Joined: 16 Oct 2007
Location: Christmas Island
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Posted: 26 Mar 2021 at 8:24pm |
I want to hear more about these digital asses.
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@AntrimMan85
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NewtNewbie
Liam Brady
Joined: 05 Feb 2013
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Posted: 26 Mar 2021 at 8:46pm |
Shedite wrote:
NewtNewbie wrote:
Shedite wrote:
NewtNewbie wrote:
Shedite wrote:
Bob Hoskins wrote:
For anyone that's interested in the Decentralised Finance (Defi) here is an article going through some of best options. Some of the interest rates you can get are huge.
As this is so new there are risks with hacks and also the services been offered by dodgy companies etc so if you do avail of these type of services do your research on them etc.
| Bankless is a good site for that stuff, they'd Mark Cuban on their podcast a few weeks back. I had to listen to it 3 times to understand it all but he has some cracking ideas about where Blockchain/DeFi is going. It's episode 54 of "Bankless" if anyone fancies it |
How can cryptocurrencies work and be the future and sustainable when orthadoxic economic beliefs tell us that for fiat currencies to work they need to be taxed, otherwise Weimer Republic-style hyperinflation takes hold?
Outside of the UK, aren't cryptocurrencies mostly lightly taxed?
How can bitcoin, and the like, hold any long-term value, then? Surely any gains you make can only be based on short-term speculation.
| Cryptocurrencies are massively taxed, via CGT. If I got to buy a Tesla with a Bitcoin (as they currently advertise), I'd have to pay Capital Gains Tax on the movement of Bitcoin since I bought it. That's one of the main reasons I don't see it as a currency any time soon.
Crypto is an asset, like Gold, and it has a limited number. The more people that want that limited number, the higher the price will go. Gold only has a value because people want it, and that's survived hundreds of years as a store of value. Everything else in our lives has gone digital, why not our asses/gold | But gold has tangible and immutable value.
I had a friend at work who invested in various cryptocurrencies but he had to do enormous, regular and exhaustive research. And even then the gains were relatively slim.
| I'm not sure the industrial usage of gold would warrant it being however many thousand a kilo it is these days. It's used a bit in engines, and aerospace, after that it's mainly jewellery again where it's only valuable because people say it's valued.
Yeah very hard to see where the millions will be made in crypto. I invest through a company called KR1. They're basically investors in a bunch of different crypto initiatives, so you're buying a stake in loats of crypto initiatives and crypto coins. LEave someone more clever than me to figure it out.
The main point of crypto and DeFi is making everything public and moving away from corporations. In some ways, the success of crypto may be making lots of things cheaper/free, so it may be a revolution that nobody in particular makes billions. |
Thanks. I find it an interesting subject, without understanding a great deal about it. But it seems to me that if we can move away from central banks, like the privately owned Federal Reserve, all the better.
I know that, under the influence of Max Keiser, Galloway's failed bid for the London Mayorlty included a move towards a cryptocurrency-funded City Hall.
Whether that would have really worked or not, I don't know.
Edited by NewtNewbie - 26 Mar 2021 at 11:39pm
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McG
Moderator Group
SISAO? What the hell is SISAO?
Joined: 27 Jan 2008
Location: Christmas Island
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Points: 24139
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Posted: 05 Apr 2021 at 10:31pm |
XRP rising. See you in the Bahamas
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YBIG Table Quiz winner 2016 & 2017 AS YOU WERE McGx
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Il Principe
Davey Langan
Joined: 30 Mar 2012
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Posted: 06 Apr 2021 at 1:35am |
McG wrote:
XRP rising. See you in the Bahamas |
lol yep, win this court case and it could soar
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McG
Moderator Group
SISAO? What the hell is SISAO?
Joined: 27 Jan 2008
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Posted: 10 Apr 2021 at 4:27pm |
XRP gwan ya beauty
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YBIG Table Quiz winner 2016 & 2017 AS YOU WERE McGx
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colmoc
Jack Charlton
serious foot fetish
Joined: 09 Feb 2009
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Posted: 12 Apr 2021 at 9:19am |
🚀 🚀🚀
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colmoc
Jack Charlton
serious foot fetish
Joined: 09 Feb 2009
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Posted: 13 Apr 2021 at 8:16am |
up another 20% overnight 😂
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McG
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SISAO? What the hell is SISAO?
Joined: 27 Jan 2008
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Posted: 13 Apr 2021 at 8:52am |
See you all in the Caymans lads.
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YBIG Table Quiz winner 2016 & 2017 AS YOU WERE McGx
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Rocko
Alan Kernaghan
Joined: 07 May 2011
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Posted: 13 Apr 2021 at 11:13am |
XRP to the moon
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MC Hammered
Jack Charlton
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Posted: 13 Apr 2021 at 11:24am |
Right I never bought Crypto before until just now. I bought €20 worth of XRP based purely on you mugs talking it up. When can I hand in my notice in work and live a life of luxury?
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El Puto Amo
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colmoc
Jack Charlton
serious foot fetish
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Posted: 13 Apr 2021 at 11:26am |
MC Hammered wrote:
Right I never bought Crypto before until just now. I bought €20 worth of XRP based purely on you mugs talking it up. When can I hand in my notice in work and live a life of luxury? |
I’d say you would be safe enough to just go in and take a sh*t on the bosses desk today now that you have bought👍🏻
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gmfc90
Davey Langan
Joined: 06 Apr 2016
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Posted: 13 Apr 2021 at 11:35am |
Keep an eye on Stellar! I got in at .08 and it's up to .53! Steadily climbing up. This time last year it was worth .04 a coin
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Danger here, OH NO
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Trap junior
Robbie Keane
Joined: 25 Jan 2010
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Posted: 13 Apr 2021 at 11:42am |
gmfc90 wrote:
Keep an eye on Stellar! I got in at .08 and it's up to .53! Steadily climbing up. This time last year it was worth .04 a coin |
I hear that's called the wife beater crypto
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So you've decided to read this eh?
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gmfc90
Davey Langan
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Posted: 13 Apr 2021 at 12:07pm |
Trap junior wrote:
gmfc90 wrote:
Keep an eye on Stellar! I got in at .08 and it's up to .53! Steadily climbing up. This time last year it was worth .04 a coin |
I hear that's called the wife beater crypto
| Can be called whatever by whoever but it's making me a decent few quid
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Danger here, OH NO
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cildaratown
Liam Brady
killdare town
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Posted: 13 Apr 2021 at 6:29pm |
What's so great about XRP? Looks halted on Coinbase from a few months ago
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