Bitcoin - steer clear or not?

ArthurMcB said:
My gut tells me it doesnt stack. Im surprised it now seems to be soaring so high again. What do you put it down to? Is it a bubble or is there merit. I do not know.
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Momentum and the fact that they can be bought in the form of ETF s on the stock market. Therefore the big funds can dip in and out quickly without having to deal with those nasty crypto exchanges which had a habit of going bust. Its basically a Momentum trade like tesla et al used to be
 
Focus there on "used to be." I'd expect we'll see a capital allocation of a few percent that will remain as part of portfolios on an ongoing basis. There will still be a cycle crash but it will bed in that way where Bitcoin is concerned over the longer term. You only have to look at the length of time that people have held the asset - those stats reveal how its going to be used (for this particular investment use case).
 
I love crypto. I have invested but only what I am prepared to lose. I don't have any bitcoin. Historically bitcoin has never hit an all time high in advance of the halving so this is unprecedented. It hit $64k yesterday, all time high was $68,899 and speculation is that it may cross that in advance of the halving. What this means who knows... normally as a result of the halving, demand is greater, price shoots up - as with everything where supply is decreased. It's very exciting to watch even though I'm not invested.

AI and mobile gaming are thought to be big winners in the upcoming bull run. On the other hand XRP (Ripple) beat the SEC and are now the only regulated coin but the price is stymied, however XRP is always last to run in a bull run - most other alt coins will run first.

I see it as a hobby - one of my portfolio is up 265% in the last few months, I have taken out my original investment as profit so am playing with house money. I have an exit plan that no matter what the narrative is I will execute. Nothing I have is in red at the moment, I have seen my portfolio in significant red and it doesn't bother me, it's not a loss until it's realised.

I spend a lot of time every day reading up on all the various sectors - AI / Gaming / Real World Assets / Layer 1 and 2 blockchains etc. I have some of my portfolio in cold storage on a ledger - that was fun and nerve racking. As I said I see it as an interest that could make me some serious money but am not naive enough to not realise it could all go to zero and that would be disappointing but I'd live

Just my tuppence!
 
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So from what I can gather, like any kind of speculation, it's a sentiment based thing? It being part of ETFs driving current demand is interesting though.
What's the Irish tax treatment applied to gains, is it CGT?
 
I also LOVE crypto, it's allowed me to make the kind of money I never thought possible.

Into bitcoin about 8 years now.

I suspect many people who sh*t on bitcoin are just pig sick that they missed the boat and have to settle for miserable returns from index funds, the S&P500, Investment Trusts etc. And even worse, some of them leave their money in the credit union or bank because it's "safe".

The masses don't have any kind of understanding about inflation and how ordinary people's purchasing power is being eroded at an alarming rate.

It's also funny how some people still think bitcoin is a bubble regardless of the fact that it's been the best performing asset class (yes it is an asset) for the last decade.

My bags are fully packed for this bullrun, alts and bitcoin.

I was also lucky enough to get access to a VC fund recently so I get very very early access to crypto startups before they launch.

In fact, I only caught a 40x yesterday from PORTAL , wish I had of invested more but a very tidy return either way.

Made an absolute killing with the jupiter airdrop also.

Have my sell orders already set to exit the upcoming bull.

So much money to be made out there lads if you know how to navigate the cycles
 
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I agree 100% with you here mate, AI and Gaming will dominate this bull, along with DePin IMO

I know many people who are bullish on XRP but the tokenomics are not great and the circulating supply is very low so lots more XRP to be dumped on the market.

I actually jumped into a presale yesterday for an upcoming game launch that's made by the same team behind candy crush. Solid team and very interesting concept that should do very well. If it tanks, no big deal, I'll write that loss off against my bitcoin gains.

Exciting times ahead

P.S be sure to setup koinly and to keep track of your gains so you can pay your taxes.

I must know 20 people in real life who trade crypto and not 1 of them keep track of their buys, sells, swaps, trades. They have their heads buried in the sand when it comes to crypto taxes. It's not going to end well for them IMO.
 
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LLB123 said:
So from what I can gather, like any kind of speculation, it's a sentiment based thing? It being part of ETFs driving current demand is interesting though.
What's the Irish tax treatment applied to gains, is it CGT?
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yes CGT
 
I'm focusing on just 2 main investments and 2 far smaller ones with a view to diversifying at a later stage all going well. That being said I'm getting twitchy to throw another few in the pot - particularly around mobile gaming and AI. The narrative around mobile gaming is that the ones that will feature hugely in the bull run haven't even been released yet so always keep some fiat for when they do. The fun is in picking the right one! I hear you regarding XRP but the whole cross-border utility can't be ignored not to mention the on-demand liquidity corridors that are increasing globally. Also Brad G is very impressive and as a board member of the WEF and with such a good relationship with the IMF it's hard not to see the XRPL playing a big part in the roll out of CBDC's etc especially between central banks. But who knows, they may need to burn the escrow to reduce supply. As David Schwartz, their CTO said 'it can't be cheap' if it is to fulfil the function it has been created for. And it's green so not an issue for the SDG 2030 whereas Bitcoin can't be included in that conversation.

I haven't gotten into the airdrops yet - something I do need to do as there is money to be made no question. I'm also loving watching TAO - Bittensor - it is the brain of AI - has had super growth - I got to it too late as it's over €628 per token - definitely a key player in AI, one to watch.

Definitely exciting few months ahead - are we looking at a shorter super cycle I wonder!
 
I have a position in TAO myself.

Keep an eye out for Aethir, it's not released yet but will be a competitor to Render and it looks very very impressive.

I hope to gain access to a VC funding round in the coming days so I'm very confident I'll do very very well on that, if I can get in on time

Good points about XRP, it just never appealed to me.

A friend of mine thinks XRP is going to 1000x from it's current price, it's hard not to laugh when he says that to me
 
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I always liked your friend
 
2nd time today I've been prompted about Aethir...one to watch alright
 
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