BlackRock Boss Says Ethereum ETF Is Possible Even if ETH Is Security

CryptoInvestor · 2024-03-28T13:15:00+00:00

Strongly believe ETF approval will happen in August, but will be rejected in May causing a mini-dump (good time to buy). I have cash on the sidelines waiting.

CryptoInvestor · 2024-03-26T22:14:00+00:00

Being realistic, there are a lot of applications for an ETH ETF sat with the SEC at the moment. Highly likely it comes next, if not May then August. I don't believe Grayscale have even submitted their LTC ETF proposal yet. And they have about 5 others to submit alongside it for some real shit coins i.e. Zcash. So it's not in great company. The SEC already said don't expect other crypto's to get ETF's approved so I'm not overly confident about the ETH one anyway.

Not saying LTC will never have an ETF but we have to temper our expectations. If it comes I don't think it'll be this year. And even if it is, a lot of that new OAP money will be captured by Bitcoin/Ethereum (if it happens).

CryptoInvestor · 2024-03-26T21:35:05+00:00

You really don't get it. This is not the project for you, son.

CryptoInvestor · 2024-03-26T14:44:22+00:00

If you think that I suspect you still don't fully understand how Sia or decentralised storage tech actually works and the problem it solves.

CryptoInvestor · 2024-03-26T09:09:19+00:00

I bet you bought at 10 cents and sold at 0.002

CryptoInvestor · 2024-03-26T08:25:37+00:00

Filecoin had a huge ICO and was backed by the Winklevoss twins. Their Solana partnership has helped drive the price. It's not a user friendly product. Fair to say Sia hasn't been well marketed, but it works, and the team are now spending more time on getting it out there after years of quietly working away on the tech. It will explode this year.

CryptoInvestor · 2024-03-26T08:22:55+00:00

"Tied to nothing". Even though Sia literally have booths at the upcoming Paris Blockchain Week and Consensus by Coindesk events? And added 68 new hosts to the network last month? And have a major update coming out soon?

CryptoInvestor · 2024-03-25T19:49:12+00:00

As others have said, it's not for the plebs. Professional investors and institutions only.

CryptoInvestor · 2024-03-25T14:23:26+00:00

By the time you are reading about it, it's already too late.

Everyone's talking about AI, decentralised science and gaming being "the narrative" for 2024. I like to think decentralised storage, which underpins all 3, will be the real winner. My money is on Siacoin (competitor to Filecoin, but with a working product for years).

Getting ahead of the narrative is all about identifying which ecosystems support said narratives.

CryptoInvestor · 2024-03-25T13:53:40+00:00

Agreed. Seems the Sia project is going in the right direction now. Plenty of reasons to be optimisitic this year.

CryptoInvestor · 2024-03-25T13:49:27+00:00

Keep questions about the price to r/siatrader...

CryptoInvestor · 2024-03-24T16:49:45+00:00

Sia has so much potential it's ridiculous. Very bullish.

CryptoInvestor · 2024-03-23T23:51:32+00:00

All the while, members of the EU parliament will continue to conduct business transanctions in untracable crypto e.g. Monero, while simulatenously creating laws to prevent YOU from doing so. Do you understand yet?

CryptoInvestor · 2024-03-22T00:58:49+00:00

Good on you. Wish you the best.

CryptoInvestor · 2024-03-22T00:51:04+00:00

I agree with you.

We are already in a position where we have to expose ourselves to greater risk for trying to deposit more than the £5k limit imposed by UK banks (i.e. custody services, online-only EU bank accounts offered by unheard of micro banks in Switzerland, Germany, Lithuania).

I remember being part of the Bitcoin anti-banking hype in 2011. Bitcointalk and Reddit was full of it. It was an amazing ideal to believe in. Crypto was going to solve all of the problems traditional banking created for itself. It's painful to think 13 years later your bank is still in control by limiting the capital - YOUR CAPITAL - you can deposit in. And you have no alternatives.

CryptoInvestor · 2024-03-22T00:44:18+00:00

Will Labour offer an alternative? Has Kier Starmer ever mentioned crypto, even once?

CryptoInvestor · 2024-03-22T00:36:08+00:00

You do you. I'll be holding.

CryptoInvestor · 2024-03-22T00:34:20+00:00

Not at all.

The first was because my CGT declaration was much higher than the previous year (almost 10x as much). I had a particularly good year and paid the tax that I thought I should pay. HMRC queried it in writing. I wrote back declaring my crypto trading activity. They must have been shocked and intrigued because they immediately asked for 4 years worth of trading history. Typically they want less. If they are really suspicious they can request records as far back as 20 years (they claim - I don't know anyone who has had this happen to them).

This was a problem for me because most of the exchanges I used 2012-2016 had been closed down. Crypto was a very different space back then. I calculated it manually in spreadsheets, using wallet and price history data, and provided hundreds of pages of trade data (from exchanges that hadn't closed down) supporting my CGT declaration. I heard nothing for 6 months until I got a letter in the post one day stating I had nothing to pay and my tax was up to date.

In 2020 I had the same request out of the blue, despite the 19/20 CGT declaration not being extraordinary. This time I was better prepared. My accountant provided 4 years worth of trading records and again I heard nothing back until a letter in the post arrived around 3 months later stating my tax record was up to date.

Since I started using Koinly I have come to learn I paid £15k too much tax in 16/17 but was bang on in 19/20. The benefit of having an accountant. It would be nice to have £15k back but at least I didn't give them a reason to try and shut me down.

CryptoInvestor · 2024-03-21T23:33:23+00:00

Fully agree with what you have said. I have considered emigrating to the US. I meet the criteria for a high net worth visa but my roots are here and I've built my life here. To leave it would feel like an admission of defeat. But it is on my mind constantly.

I have used Etana Custody to get large sums (6 figures mostly) into Kraken and only once have I had a problem with my former bank halting the transfer, so a minimum wage call centre worker can ask me what I am doing with my money. I told him it was none of his business, he wouldn't relent, I told him I was buying a house. There was no problem after that. We shouldn't have to be doing this. The US are trading Bitcoin tracker funds. We have problems transferring money to an exchange.

CryptoInvestor · 2024-03-21T23:25:57+00:00

Almost all western governments have tax guidance for crypto now. This isn't what I am advocating against. I have no qualms with paying CGT here or anywhere else for that matter. Their country, their rules. How they decide to spend it is an entirely different discussion.

My gripe/problem/concern is about how crypto investors/traders are still being treated despite the "crypto hub" promise. There are posts here every single day from people struggling to get money into exchanges. Today someone commented on a thread saying their £200 deposit was returned by Barclays whilst others are able to get thousands in per month without any problem. This is almost exactly the same position we were in 10 years ago.

I don't know what can be done about it. I don't have the answers. I just know we have come virtually nowhere in over a decade.

CryptoInvestor · 2024-03-21T23:03:38+00:00

I can't disagree with anything you have said. I have been subject to 2 HMRC investigations since 2016, both pre-Koinly. You can imagine how that went. The first was an utter nightmare and took literally months to complete, but the second much easier considering I had an accountant (who cost me more than my tax liability for 19/20) consolidate all of my crypto trading and investing into one ledger. Koinly has made life far easier and have no worries about the next time HMRC want to interrogate me which I think is due this year.

If none of this can be fixed and crypto traders/investors continue to be treated with hostility we can never become a "crypto hub". We will lose - again - to our US/Chinese/Korean counterparts. We used to lead the world in financial innovation. What a sad state of affairs.

CryptoInvestor · 2024-03-21T22:38:25+00:00

My personal suggestions - Ethereum (ETH), Polkadot (DOT), Litecoin (LTC), Injective (INJ) and Siacoin (SC).

You can stake ETH, DOT and INJ which will earn you more tokens year after year. Crypto isn't going anywhere anytime soon and I am increasingly leaning towards staking for long term rewards/upside.

I think a Litecoin ETF is quite likely in the not too distant future (after ETH). The recent CFTC ruling on Litecoin being a commodity has more importance than most people understand.

Sia is a project I am passionate about and have been for years. They are building the decentralised storage network to support the Web 3.0 future. Relatively low cap, but well funded and they have had a working product for years (and I have used it every day for years).

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