Crypto currencies

[Bettingking]

Good discussion is fine but remember nobody is an expert in everything.
Everyone has an opinion, sorry Steve but note the following:

- Not wise to give tax advice unless you are a tax agent - Australian Tax System: The amount of tax applied on Capital gains depends on your marginal tax rate (All income is combined and rate is used) and if you have held the asset longer than 12 months potentially your assessable income is halved but depending on whether you are an individual or another entity as a company would not get this concession.
Yes perhaps on average then it could potentially be approx 30% but depends....
eg. As an individual if your only income is a $100,000 then your average marginal tax rate (total tax) could be potentially $26,600 (approx 27%)
If your total income is $200,000 then tax potentially is $67,232 (approx 34%)
If your income is total of $20,000 then no tax at all.

- Technical analysis - Stocks in my opinion isn't the way to make millions (some do) as you need to do what the banks are doing and trade Forex and I'm sure they will eventually kill the market with their Crypto involvement.  You need stocks to go up to make money.  In Forex you can buy or sell currency pairs so greater potential for profit either way.
With Forex, technical analysis is all about waves and reading the charts.  It seems perhaps your knowledge and understanding of chart analysis is lacking if you are saying money cannot be made by technical analysis.  Trading fundamental news can make higher gains quicker but also depends on your technique.  Picking the direction is only part of the picture, equity management is the key. I only need to win 35% of trades and still be in profit (adequate risk/reward ratio).

My turn to fluff my feathers out to see who is the most beautiful peac***.
I would tend not to use bold statements as this can decrease your credibility.
My 2 cents worth.....out

[Steve]

Regarding taxation, it's something I know very well. The advice is from my accountants, but its really not hard for anyone to read the tax office guidelines anyway. But the kind of thing you wont find on the ATO website is how you can buy a property with your superfund then buy it from the the superfund with no interest.

Regarding stocks, technical analysis looks at the effect. All investing is about ROI. The "edge" you get with technical analysis is marginal compared to factors like the company's long term value, competitiveness, and value of stock. We are talking potentially hundreds of times greater returns than technical analysis alone. Technical analysis is more about the psychology of other investors.

My turn to fluff my feathers out to see who is the most beautiful peac***.
I would tend not to use bold statements as this can decrease your credibility.

Sure in the eyes of anyone clueless who thinks I'm full of shit.

[cht]

Regarding stocks, technical analysis looks at the effect. All investing is about ROI. The "edge" you get with technical analysis is marginal compared to factors like the company's long term value, competitiveness, and value of stock. We are talking potentially hundreds of times greater returns than technical analysis alone. Technical analysis is more about the psychology of other investors.

Sure in the eyes of anyone clueless who thinks I'm full of shit.

Why would Goldman Sachs commit billions in trading the financial markets if the returns is hundreds of times greater in stocks investment as you claim ? There are trillions traded daily on the largest market with banks, thousands of hedge funds and other financial institutions that trade the fx market besides other futures and options trading diverse assets. The key word here is trading.

I'm not putting you on the spot. It is what it is. More shit talk only lowers your credibility.

[cht]

Why would Goldman Sachs commit billions in trading the financial markets if the returns is hundreds of times greater in stocks investment as you claim ? There are trillions traded daily on the largest market with banks, thousands of hedge funds and other financial institutions that trade the fx market besides other futures and options trading diverse assets. The key word here is trading.

I'm not putting you on the spot. It is what it is. More shit talk only lowers your credibility.

No more comments from me on this. Back on topic.

[Steve]

I'm not shit talking. It's just your understanding.

Regarding your question, I haven't referred to anything like that, and I don't know enough about their investment to comment about that. Although when you are investing larger amounts like billions, your approach changes. Like if you have $1m of a particular stock you are trying to short, but the trading volume is very low, it's much harder because you have a lot more to sell. But it's easy if you are only looking to short say $5000. Now try doing something like that with $1B+. It is more feasible to deal with entire economies and a nation's currency.

Anyway my comments were about using technical analysis vs my approach, which applies to any form of trading - but more specifically stocks and cryptos. It had nothing to do with fiat currencies.

I'm not sure why you want to argue. How about you do what works for you, and I'll do what works for me.

Sure ok, back on topic. On that note, again be very careful investing in a coin unlikely to compete. The only reason crappy coins are doing well is because of the new money flooding the market. Many coins are going to go down the tubes. A lot of coins are created solely for the creators to sell their pre-mines. After that, the developers dont care what happens.

[vladir]

read and noted

that capital gains tax is a killer...like 30%

i have had ripple since .20 and ADA since .50

litecoin since $90

im up several thousand so i am a happy camper

they are very volatile

sell ripple or hold? i dont know what to do

if it hits $10 im taking half the profit and leaving the rest in

today i bout PAC, its a sub penny coin, i have 700k coins worth. if it hits a penny I sell and make good money.....the trick is to get into a sub penny coin that will "make it"....a few hundred dollar investment in a sub penny coin can easily net you 100k dollars if it hits a penny lol

right now my portfolio (you are right, diversify) is ADA, XRP, LTC, IOTA, XVG, PAC

give me some luck on PAC huh, lol 700k coins worth...it will fork in march and i will go from 700k to 7k coins but the worth will be the same...research the fork on it and get in

LTC has a bright future to i believe

Where did you buy PAC? I can't find it on bittrex...

[RouletteGhost]

PAC is on cryptopia. No verification required

New Zealand exchange.

I have 740,000 of them. In March it will fork and the value will go up

If it hits 5 cents I’ll sell

[vladir]

PAC is on cryptopia. No verification required

New Zealand exchange.

I have 740,000 of them. In March it will fork and the value will go up

If it hits 5 cents I’ll sell

Can't even register there... it says:

Registration Paused

[foreverBOB]

Pac coin's whitepaper is not solid enough to convince me. Lots of people wonder what it is Pac Coin realy does.
PacCoin doesnt even mention who is in their Dev Team.
I say Nah to this Coin!!

[Steve]

IMO PAC is just another cheap and nasty coin that will probably go nowhere. And if it does, then it will just be hype.

At some point probably during this year, there will be a big crash for all coins. Then people will be more reserved about investing. The companies that actually have value in the coin will do better, and the useless coins will be virtually worthless.

There is still money to be made but be very careful of investing in useless crap coins. For now the whole market is 90% speculation and hype. It's unsustainable.

[cht]

IMO PAC is just another cheap and nasty coin that will probably go nowhere. And if it does, then it will just be hype.

At some point probably during this year, there will be a big crash for all coins. Then people will be more reserved about investing. The companies that actually have value in the coin will do better, and the useless coins will be virtually worthless.

There is still money to be made but be very careful of investing in useless crap coins. For now the whole market is 90% speculation and hype. It's unsustainable.

I agree. Bitcoin is expected to dip below the $7000 mark. To make the big bucks is a short strategy when there's the retest of the $20k top. It's now bouncing between $14,000 and $17000 with the current extreme support at $11000 and resistance at the $20000 all time high done in mid-December.

[Steve]

One thing many people forget is any coin can perform the same function whether it's $25,000 or $0.005. But people are buying coins like their true value is changing, when it never changes.

The only thing giving most coins value is hype and perception of value. The coins that have real value are coins like Ethereum and Power Ledger where there is a real use and value for the coin. About 30% of the coins have a real value like this, but they are being treated like Bitcoin where they are just a number everyone hopes goes up. It doesn't mean all of this 30% are definitely going up in value because there is now so much competition.  There will be dominant blockchains eventually. I have loads of cardano and expect it will be one of them. Also if you have any promotional capability, you can partner with companies to be paid in coin. It costs them nothing unless your promotions increase the value of the coin. I did this way back with stocks (stock options, where you can sell but only when price reaches agreed value). Ripple has been doing this extensively and they called it their "war chest" of coins to destroy competition - basically bribe strategic partners who then have an interest to see XRP rise.

Again for sure this is going to crash, and the real utility coins will survive and probably thrive. That's why i'm not a fan of coins like PAC. My impression is the creator just wants to sell their pre-mine coins, then doesnt care what happens as they've made millions. There are many coins like it. I could be wrong about PAC, but at least that's my first impression - it looks unorganized and messy. Whereas Cardano is highly organized and well-backed by institutions.

[cht]

The entire industry speculation is under the 'pump and dump' model.

It is similar to trading the 'penny stocks'. You have to know whether it a bull or bear bubble at play.

Ride the bull bubble up to the top till the maniac frenzy is overturn by greed(profit-taking) and fear where you sell short to ride it back down.

This is the perfect opportunity for contrarian trading strategy where loads of global dumb money fuel liquidity and volatility on both ends.

[RouletteGhost]

No argument from me, most of these coins are garbage pump and dump schemes

I’m proud that I have ripple and cardano because those are actually partnered with big things. Not sure how to feel about litecoin but I got in at 90 so happy regardless about that

Coins like pac coin, have to get in at rock bottom. In 30 days I think it’s up 20,000%

Confident in:
LTC
XRP
ADA

Not confident in but own:
PAC
XVG (up nicely today)
Iota

Key is to get in at the beginning and cash out after the pump

I’m always looking for sub penny cryptos to get in early

[Proofreaders2000]

I don't know how Gov't regulated these coins are.  I know from
experience with trading stocks after $2K profit I got large cap gains tax bills.

Is this a situation where you need a good accountant?