a freind has. if i mind right he invested 14k in bit coin. but blockchain is his bag so i guess he is half way to knowing what he is talking about
My 23 year old son does He’s very careful with his money I guess when he moves out I’ll know if it’s any good or not
Bitcoin is a financial system that can exist outside of governmental control. If it ever really takes off, mainstream like, things will change. All the time its a niche phenomenon, it remains independent and slightly risky like any "investment" (people have lost money on it).
Unfortunately, as with all things, Bitcoin may soon become the Betamax of crypto. There are what’s called utility coins out there that have a job to do(cross border payments for instance like the Swift network) Bitcoin is really only a store of value and could be seen like gold. It’s hugely expensive to “mine” and due to its low price just now, not viable.
Might want to do a little digging nonetheless. It’s the future. As much as us old farts resist new tech. Cash will eventually cease to exist. Everything will be tokenised and the dollar will no longer be the base currency. There’s a Fintech conference going on in Paris just now. Major players and banks are aligning themselves to Crypto. I’ll say no more, as it might sound like I’m selling snake oil. But worth doing your own research.
Two or three years ago it was worth buying a miner and having a go at home. You could pay back the cost of the hardware and electricity and start to make some ‘profit’ with two or three months. Coins from that investment would now be worth an awful lot. But the ‘difficulty’ level has significantly increased and it’s no longer a viable prospect for a casual punt. The only way to do it might be to look at buying and sitting on etherium or litecoin in the hope it’ll go up again. I bought £30 worth as an idle punt. With buying and selling you need a service like Coinbase to act as a wallet, but when you buy coin or cash out they take a percentage. I honestly can’t see a way of making any proper dosh out of it without having a lot of spare cash to risk.
About a year or so ago Bitcoin was never out of the news. And now it’s all very low key. Was it all a scam for some folks to make serious money and get out quick ? As in manipulating the markets via social media ? I know it’s not a pyramid scheme perse , however there’s something that just doesn’t sit right with it as per the pyramid schemes of old.
I’d like to hear from anyone who has actually sold the stuff, what they made in profit, how that was administered and what tax was declared on the profit.
It attracts Capital Gains Tax like any other investment. Uk Gov has released guidance on how it is viewed. It’s not taxable until it’s been converted back to fiat. This should cover it. https://www.gov.uk/government/collections/cryptoassets
Hey all. I know this whole crypto thing is really exciting, and I'm sure you've heard that technical analysis is the way to go. But I have no idea where to find easy to understand info about it. Can anyone point me in the right direction?
I've been dabbling, but just with small amounts to see how it goes. £100s not £1000s. I looked into it beforehand and decided that the safest, but probably least profitable way, to dabble would be to use a well known platform that is covered by rules and regs in other ways. So I've been using Paypal. If you log on to your Paypal account there is a separate section where you can buy and sell several different types of Crypto and track it's performance. Yes I've sold some as a test, at a very small profit, but did cover the admin costs, and it appears to have worked OK.
The technology being used is of huge value and interest which is why the main currencies in the World are likely to have ‘crypto’ alternatives linked directly to the underlying currency https://www.gov.uk/government/news/...o-make-uk-a-global-cryptoasset-technology-hub
Cash will disappear, you we'll have have a digital ID, soon to be followed by facial recognition.... All for your own safety and convenience of course...
