Bitcoin, Crypto and Stocks

So just to be clear, if you start an investment with a bank or similar financial institution, you only need to pay CGT, you don't need to pay any other tax?

colemanY2K wrote:

I find this whole bitcoin thing very strange. I bought £5 worth a month ago for the craic. Just to see what would happen.

It dipped a bit in its first week but has since just gone on a crazy upward trajectory. Now the £5 is worth £6.98 at this very moment in time. I assume all profits are tax deductible?

It's all so strange. It feels like betting on red or black at a roulette table. Any minute now I fear the arse will fall out of it.

Sure it's the same thing they've been doing with Gold for donkeys years, if more people want it tomorrow than today, then the price will be higher tomorrow. If everything else in our world is gone digital, why wouldn't assets.

Originally posted by Zinedine Kilbane 110

Zinedine Kilbane 110 wrote:

Shedite wrote:

colemanY2K wrote:

I find this whole bitcoin thing very strange. I bought £5 worth a month ago for the craic. Just to see what would happen.

It dipped a bit in its first week but has since just gone on a crazy upward trajectory. Now the £5 is worth £6.98 at this very moment in time. I assume all profits are tax deductible?

It's all so strange. It feels like betting on red or black at a roulette table. Any minute now I fear the arse will fall out of it.

Sure it's the same thing they've been doing with Gold for donkeys years, if more people want it tomorrow than today, then the price will be higher tomorrow. If everything else in our world is gone digital, why wouldn't assets.

Explained here

https://youtu.be/AfVYA7t0Sfw

cheers, will give it a look later on.

i guess it comes down to whether you're risk averse or not. if it had the backing of a central bank then i'd be more inclined to dive in. its hard to fathom how bitcoin is valued if there's nothing behind it other than a limited supply.

EDIT: Just watched the video. f**k that!!! seems like a sure fire way to lose the shirt off your back LOL

Edited by colemanY2K - 17 Feb 2021 at 11:04am

"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.