bitcoin

[Neil 154]

Originally Posted by Golf Boy

They are printing money and selling it for dollars, no?

True,I suppose the Bitcoin circular economy hasn’t happened in the Congo , yet. Bitcoin still solves a money problem for these cash-strapped environmentalists.

[Stinger1]

One of the smartest guys in finance, ignore at your peril:

[Spindle]

I hope that he's dead right at the end. That would be hilarious

[Neil 154]

Nuclear power stations are are into the Bitcoin mining business. Zero-carbon Bitcoin mining that will revitalise an energy industry lacking decades of public infrastructure investment.

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[greybot]

You must be very happy Neil. Bitcoin up almost 35% since the start of the year.

Been one hell of a recovery when most (me included) thought FTX would see to the death of bitcoin as we know it.

[Neil 154]

Originally Posted by greybot

You must be very happy Neil. Bitcoin up almost 35% since the start of the year.

Been one hell of a recovery when most (me included) thought FTX would see to the death of bitcoin as we know it.

FTX and Bitcoin are unrelated. Bitcoin is a bearer asset, FTX was a ponzi scheme. As a matter of fact, FTX's balance sheet shows it held zero Bitcoin (despite claiming to hold $1.4B worth)

[ozzieEagle]

I'm considering moving out of Crypto as my betting, spare dosh investment now, moving into a share instead.

I've got an urge to buy my first lot of individual shares. BYD beckons IMO. I can see them rocketing ahead over the next 10 years.

[Isle of Wight]

Originally Posted by ozzieEagle

I'm considering moving out of Crypto as my betting, spare dosh investment now, moving into a share instead.

I've got an urge to buy my first lot of individual shares. BYD beckons IMO. I can see them rocketing ahead over the next 10 years.

I liked that as well. I can get them on my etorro account.

What happens if you say buy £100 in one company and make £10 but also buy £100 in Crypto or another company that looses £10, is capital gains due? Ignoring allowances just the theory of losses counter balancing profits. Anyone know?

[Spindle]

If you have a stocks and shares ISA there is no CGT applied, but the investment limit is 20k per year (that is purchases of stocks). Buy some stock on the LSE, it rockets, you sell it, no tax due.

EDIT
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[Spindle]

Originally Posted by ozzieEagle

I'm considering moving out of Crypto as my betting, spare dosh investment now, moving into a share instead.

I've got an urge to buy my first lot of individual shares. BYD beckons IMO. I can see them rocketing ahead over the next 10 years.

All major EV makers will rocket, doesn't mean their stock price is fair. I guess where BYD have advantage is price, and being Chinese for the Chinese market, but they are a car maker only. Why Tesla have been valued high is because they are a power company, and a taxi company too. It's a shame Musk decided to go off his rocker with Twitter which smacked up the stock price.

[Nth Kent Eagle]

There’s been quite a few out of favour assets that have rebounded strongly in January e.g the Hong Kong stock market. Are we risk on again?

[Isle of Wight]

Originally Posted by Spindle

If you have a stocks and shares ISA there is no CGT applied, but the investment limit is 20k per year (that is purchases of stocks). Buy some stock on the LSE, it rockets, you sell it, no tax due.

EDIT
To view the link you have to Register or Login.

Thx I already have a managed stocks and shares ISA its normal trading i was thinkink about. Can you offset loses against profits? I think you can from what the Gov site says. Not that it reeally matters as I also found out you have to make over £12500 before paying. I'm down $250 so far on my cypto and share dabbling

[Neil 154]

City AM news headline: Why I think Bitcoin could be a key to saving the environment. This is actually a good 101 on Bitcoin.To view the link you have to Register or Login

[Spindle]

Originally Posted by Isle of Wight

Thx I already have a managed stocks and shares ISA its normal trading i was thinkink about. Can you offset loses against profits? I think you can from what the Gov site says. Not that it reeally matters as I also found out you have to make over £12500 before paying. I'm down $250 so far on my cypto and share dabbling

I don't think you really have the data to be a day trader. There are so many disadvantages, the trader firms have Bloomberg terminals and get more data sooner.

Best to pick some good stocks and keep them, or save, wait for crashes and buy, then keep them. I buy and keep like a savings account and I aim for either something that I think is going to grow or a high divi yield that like to regularly pay, and I focus on renewable/green companies.

You can deal with Wall Street stocks too by filling in the W8-BEN form

[Spindle]

Originally Posted by Neil 154

City AM news headline: Why I think Bitcoin could be a key to saving the environment. This is actually a good 101 on Bitcoin.To view the link you have to Register or Login

What complete shit. What a misleading histogram. You are literally comparing BTC mining operations with MASSIVE energy intensive industries in some ridiculous argument that it's somehow green because it doesn't use nearly as much energy as them.

Try comparing it with say, it not existing at all. You could take that little slither and knock it off the Healthcare provision sector.

[Neil 154]

Originally Posted by Spindle

What complete shit. What a misleading histogram. You are literally comparing BTC mining operations with MASSIVE energy intensive industries in some ridiculous argument that it's somehow green because it doesn't use nearly as much energy as them.

Try comparing it with say, it not existing at all. You could take that little slither and knock it off the Healthcare provision sector.

That's not a histogram it's a column chart! Critics of Bitcoin often compare mining energy consumption to that of a country. This journalist has taken a different spin on that comparison. You're right, a more interesting comparison might be the energy consumption of Bitcoin and seigniorage / the global banking sector. I'd like to see that too.

You don't comment on the second part of the article where she describes how Bitcoin enables renewables industries to become profitable which is a net benefit to the environment and Co2 reduction. Also the section about how a Bitcoin economy reduces consumerism which is of course most harmful to the environment.

[Nth Kent Eagle]

Presumably with Bitcoin mining you don't have to do it in locations where the grid is under pressure such as in data centre strongholds like Slough, Amsterdam and Dublin?

[Neil 154]

Originally Posted by Nth Kent Eagle

Presumably with Bitcoin mining you don't have to do it in locations where the grid is under pressure such as in data centre strongholds like Slough, Amsterdam and Dublin?

The point is that Bitcoin miners find cheap sources of power in places other industries can't access. This is energy that is stranded from the grid and is essentially worthless without Bitcoin mining. A miner can turn up with a container in a jungle or a desert and make use of excess energy. One example is in Virunga National Park in Congo where they have mini-hydro power stations that serve the remote local population and support the park rangers and environmentalists who are underfunded to protect the park. Bitcoin mining is useful for the whole energy industry which is looking for ways to balance supply and demand.

[Adlerhorst]

Originally Posted by Isle of Wight

I liked that as well. I can get them on my etorro account.

What happens if you say buy £100 in one company and make £10 but also buy £100 in Crypto or another company that looses £10, is capital gains due? Ignoring allowances just the theory of losses counter balancing profits. Anyone know?

It depends how frequently you are trading. If you are not trading frequently then Bitcoin gains and losses will be subjected to capital gains tax (just like shares).

If you have realised CGT gains and losses in the same year these are netted. If it is in different years then you might find yourself having to pay tax.

Unfortunately people dabbling in bitcoin rarely declare this for tax purposes.

[Isle of Wight]

Originally Posted by Adlerhorst

It depends how frequently you are trading. If you are not trading frequently then Bitcoin gains and losses will be subjected to capital gains tax (just like shares).

If you have realised CGT gains and losses in the same year these are netted. If it is in different years then you might find yourself having to pay tax.

Unfortunately people dabbling in bitcoin rarely declare this for tax purposes.

Thanks

It’s way way way below CGT but I do a tax return each year and want to make sure I’m declaring properly as you never know if they randomly decide to want all details sent.