• The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.


  • Content count

  • Joined

  • Last visited

  • Feedback

  • Country

    United Kingdom
  1. I haven't seen any retailer accept bitcoins direct, and they usually use bitpay as their processing partner. Fees are part of the crypto experience, and high in recent weeks due to the volume of transactions. But £35
  2. Bitcoin and Cryptos

    The end is near...? Talking to my boy about earning bitcoins or amazon cards in the supermarket (earning either though watching ads), the checkout girl asked if there were bitcoin gift cards. the very fact she knew of bitcoins means its reached the mass market. I dont expect she or millions of others are actually invested or will but it seems to me with news coverage this week it is a turning point.
  3. Was about to buy some coins from Sharps Pixley a while ago, decided to let bitcoin ride (good job eh?). I'm not sure this is viable for £10k's and you have to sell the gold on. I looked at Bittylicious a while ago and their rates are awful. Mind you I think generally the sell prices are not what one expects from the published $ or £ rates, which can be inflated by buying on some select markets (BTC/KRW seems to be higher than others).
  4. How low can we go?

    If you're looking at charts, not considering anything else, you wouldn't like what they say... Gold probably fall to around £700-720 to test the support there. Silver would be looking at ~£9.
  5. So as I watch the value go up more and more, I trying to settle on best withdrawal methods, so not to be left hanging if the market turns dramatically. Withdrawal always seems to have been more difficult than depositing (part of the reason for the price support imo). I've heard so much bad about Coinbase that I want to avoid that, and I'm afraid meeting a chap in the pub for local coins isn't really sitting right when dealing with tens of thousands. In the UK there is Coinfloor but they seem to have similar issue (poor support, deposit to Euro only) as Coinbase. I've read that CEX.io is more reliable and allows withdrawals back to credit card which is apparently trouble free (?!). Must say just the website make me more happy with simple "buy" and "sell" tabs giving equal precedence to both. What have other people used for withdrawing?
  6. Fake and dramatic news

    Normal media are terrible for reporting financial information, usual without any concern for the wider context. Seems like they write a story and not checked price history beyond the past 24 hours, and sometimes they haven't actually looking at the price, just default to assumption "this news = this direction movement in £"
  7. Bitcoin and Cryptos

    Entry/Exit points based in UK, EU or US (at least) already follow AML and KYC regulations. So unless they are going after exchanges beyond their control there no change here, just a lot of posturing. No doubt someone will try to come up with a specific regulation that just reiterates all the existing ones, because its being seen to do something.
  8. What would you buy next ?

    Gone from $6000 to in a couple of months to $11000 now? I would say the advise "only invest what you can afford to lose" is most relevant to crypto. They could go on another ride x10 this coming year, or crash to hundreds of $. There's no fundamentals behind anything, its all just speculation of what they could be in the future. I looked at buying one of the alt coins this weekend, after three attempts to get the wallet to work it took 8 hours to download the blockchain (with CPU at around 30-40 the whole time), and when I start up the app it doesn't resync. Now I don't trust it and will instead make my purchase on an exchange. This is project valued at $300m and their basic software doesn't work as expected. That said the software for Bitcoin is good, Exodus is good as it allows you get on a few other coins. For wider investment than Bitcoin and Ethereum look at the exchanges. Though you'll have to do full ID for a couple of the big ones. If you want to get on the hype train don't rush because the hype will still be there next week (or its crashed). Also, first thing after a Bitcoin investment to look at is not the hundreds of altcoins but the dozens of ICO. Higher risks but many barely-viable projects (imo) are doing 10x + on launch.
  9. What silver would you buy with £1000???

    Bars seem to have too high a premium to be worthwhile (though i'd like to have a nice 10oz cast bar). Depends if you think you're a stacker of a collector. Or both (as we all are aren't we?) reckon 50/50 between stack of cheapest like Britannias, then other half thing like the look of to collect with some premium.
  10. Tax on Bitcoins

    That's the core question. Conventional wisdom would be that you don't have a capital gain until you sell an asset and liquidate to cash. The question is whether transfer one assets to another is treated the same. I'd have thought this is an issue that comes up when people trade (rather than sell) large silver/gold quantities, so not a unrecorded scenario.
  11. Bitcoin and Cryptos

    The utility as a currency in contention with the purpose of many cryptos. And that contention is outright contradiction with the current mindset of investment. If a token goes up in value the cost of using it for the function goes high too. Many (virtually all?) in the crypto forums are oblivious to this, not recognising that the more successful (value wise) the least viable a coin is. Valuing everything against $, is another contradiction. However, comparison to tulips probably isnt quite fair, its more like Dotcom mania. There are projects out there with genuine use, if they stablised their $ value, built out sales and support services for their product. But theres no fundamentals, and too much fear of messing out right now, so projects with no product can have a "market cap" of hundreds of millions.
  12. Tax on Bitcoins

    Hmmm, that opens another avenue, an off shore account. As I read it the rules in the UK for crypto currency are relatively simple, HMRC recognise it as an asset so all the normal asset related rules apply. So the proposition would be the same as say trading a painting for a vintage/prestige car. Basically thats my current target for holding Bitcoin, buying a 911. If the seller accepts Bitcoin rather than cash it may be tax efficient. Alternatively buying sovereigns with Bitcoin then selling them, but that gets a bit cumbersome (couple hundred sovs) and sailing close to the wind.
  13. How ridiculous is this getting?

    That's awful. Do they do a Millennium Falcon?
  14. any help with this new site?

    That is indeed the original objective and is happening to an extent. However the problem with no regulation is that an lot of people are selling an awful lot of promises, to people who dont understand any of it, which they're unlikely to deliver. Some will, some wont, some have good intention, some are scams. The site noted looks in the wont deliver/scammy corner of the matrix. Regulation is also a means to protect people from scams and themselves, as much as control.
  15. As Bitcoin rises thoughts turn to exit (I've just sat on some I mined 4 years ago - lucky me!). I gather there would be a substantial CGT liability when liquidating and withdrawing through a bank account (which would be declared of course...). Now the thought I've just had is, does a tax liability arise if i trade the bitcoins directly for some other asset? i.e. to gold or maybe a expensive car.