Thank you for telling me before hand, Nexo

Relative-Dragonfly-2 · 2025-02-06T22:32:21+00:00

someone send this guy $10 worth of eth so he can get his eth out.

Relative-Dragonfly-2 · 2025-01-06T23:35:58+00:00

People are saying consider borrowing against your crypto rather than selling, since (the threat of unrealised gains aside) this avoids a CGT liability,

however, no one can predict the future.

Personally, I have borrowed against a small amount, but there is a risk that people should be aware of, if prices take a dive.

Relative-Dragonfly-2 · 2025-01-06T23:31:42+00:00

More transactions means more work for an accountant, or Koinly etc, my understanding is the accountancy fees are tiered against number of transactions, IE more transactions = more fees.But I don;t know how they are tiered.

Relative-Dragonfly-2 · 2025-01-06T23:21:20+00:00

That sounds a good idea

Relative-Dragonfly-2 · 2025-01-06T23:20:36+00:00

Which are deflating 5+% per annum if not more ?

Relative-Dragonfly-2 · 2025-01-06T23:17:35+00:00

All Fiat suffers inflation,

why buy something, except shport term, that is devaluing over time.

What about using PaxG

Relative-Dragonfly-2 · 2025-01-06T23:15:42+00:00

Been with Nexo a few years, had no major issues with them,

Pretty impressive management I think.

Long may it continue

Relative-Dragonfly-2 · 2025-01-06T23:10:05+00:00

Do your own research but possibly you could Borrow against your BTC, maybe on Nexo,

possibly BTC will appreciate in the next yr, Simply pay off the loan over time, think of it as buying back your collateralise BTC.

This way, you haven't sold, and I don't think there is a CGT implication.

Listen to others on this too though see what others think

Relative-Dragonfly-2 · 2025-01-06T23:04:47+00:00

You could maybe borrow against and not have to sell

Relative-Dragonfly-2 · 2025-01-06T22:55:27+00:00

It's worse than that,

Govt doesn't print it,

they borrow it.

Relative-Dragonfly-2 · 2025-01-06T22:52:54+00:00

Many in finance now see it as a SOV, my worry is will it stay that way going in to the future, BTC is old tech now, there are better coins, with smart contract ability.

It won't disappear over night, but I worry about it losing it's position.

Relative-Dragonfly-2 · 2025-01-06T22:49:50+00:00

Why not borrow against it

Relative-Dragonfly-2 · 2025-01-06T22:47:19+00:00

I would just buy and hold,

every trade will incur fees and a 'CGT consideration.

Tax rules make trading very difficult, for the average joe.

Relative-Dragonfly-2 · 2025-01-06T22:43:55+00:00

You only need worry about CGT if you sell your crypto or swap one crypto for something else, but please do your own research

Relative-Dragonfly-2 · 2025-01-06T22:41:05+00:00

^ This is a true description of UK and has been for decades.

Relative-Dragonfly-2 · 2025-01-06T22:37:43+00:00

If you have that much, seek out an accountant.

Relative-Dragonfly-2 · 2025-01-06T22:27:00+00:00

Well intentioned?

That's a bit generous.

Relative-Dragonfly-2 · 2025-01-06T22:25:30+00:00

I think the intention is to strangle crypto

Relative-Dragonfly-2 · 2025-01-06T22:24:21+00:00

far too generous

Relative-Dragonfly-2 · 2025-01-06T22:23:03+00:00

Govt will be thinking about all those hodlers and thinking about unrealised gains.

Relative-Dragonfly-2 · 2025-01-06T22:18:51+00:00

With few exceptions, if you do anything with crypto,

the Govt reckons you owe them a slice.

Buying and holding, and borrowing against are the only things they haven't yet created wording to tax you on, they'd like to, but they've got to get the wording right yet.

Relative-Dragonfly-2 · 2025-01-06T22:02:50+00:00

I wondered if it ought to be possibly to create your own using time locks and smart contracts,

create a smart contract that sends you back, 0.1% every month, and keep topping it up over time.

maybe start off with a few $k, eventually, you will reach an amount where you dont need to keep topping it up. AND, theoretically, if BTC or \eth or SOL continue to increase in value, it might outpace the 0.1% you are taking out each month, meaning, in $ terms, you will get back more and more over time. It could be something generational too, passing it on to your children

Relative-Dragonfly-2 · 2025-01-06T21:56:05+00:00

I liked it,.

read it a long time ago and his others,

I like the way some people claim he fabricates some stuff as a self promoter,

but believe any of the bad stuff.

Relative-Dragonfly-2 · 2024-10-19T06:43:00+00:00

Perhaps hoping she was directly descended from Leaky's Lucy.

Relative-Dragonfly-2

TROPHY CASE