Time will show if you are the best son ever or the worst. But I believe that if you have a good trading plan you will be fine.
He has the *best* trading plan - buy and hold! |
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 OH NOES! Somebody has painted a double top picture on the chart, sell everything!!!! * (* By sell everything I mean, all your dollars, cos if somebody is trying this hard to make it look like you should sell BTC, then I would really consider doing the opposite) But that's just advice man. Do whatever the f*ck you wanna do! (courtesy of hodge twins) |
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What would be the process/taxes involved in cashing out a large some of BTC to sterling?
Hopefully this will become a relevant question to quite a few people in the next few years. I have heard that Germany does not tax (CGT) bitcoins if they are held for over a year. Perhaps they could become resident there before cashin out. I've cashed a few thousand here or there, SEPA transfers out of Gox in euro, and more recently a SEPA transfer out of bitstamp in USD. I'm planning on moving anyway. If BTC gets big, that will just be one more motivation to do so. |
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"Everyone" in this context does not include the vast swathes of consumers who haven't the slightest interest in the financial system, and think "QE? wasn't that an ocean liner?"
In my limited time watching various markets, I've formed the opinion that they do whatever people least expect them to.
Applied to BTC, I have a horrible feeling that maybe this is as good as it gets. There will be no rocket (as everyone expects). It will not crash to zero (as everyone else expects). It will never go mainstream (because *everyone* as explained above does not knowing or care about it... "inflation is how you fill balloons right?"). So china was the last hurrah.
Enjoy your profits, thanks for playing.
I really hope I'm wrong though.
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It all depends on whether you believe the 'russians are scammers' stereotype more than you believe the 'slovenians are scammers' stereotype.
Tough call!
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I think cashing out is the key thing. If you never took it out of the exchange, it never hit your bank account, you never saw 'profit'. Just numbers on a screen. I realise a bank account is numbers on a screen too, but thats the screen the taxman is gonna be looking it. Gox (*insert favourite exchange) is like a virtual box under the mattress  |
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I haven't seen even a single real crash in bitcoin history yet, but only massive long lasting bear traps.
True dat! |
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Never sell during the crash! That's when you be buyin'  |
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You can't even read the charts right. Bitcoin volume (not USD) during the entire month of April including crash is only 50% higher than the October volume. We're not even halfway through November yet so we can't compare those numbers right now, and we haven't seen a crash so far. Seriously you don't know what you're talking about and what you're comparing. Bah quit beating me to it you bloody whippersnappers |
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Thats a nice tool. Your monthly volume, I grant you is lower, I think at that granularity it misses something though. Looking at weekly volume's I'm not so sure its as clear cut as you imply.
Look at the volume in the whole run up to 260, vs the volume now, that big peak in April, thats the correction and churn following the run up.
The underlying assumption about BTC volume is what puzzles me most though, if the BTC price in fiat is much lower, then of course the same amount of currency, is going to move a lot more BTC volume.
I think the amount of fiat being moved around the BTC market is a more important indicator of the relative 'trade volume' compared to April no?
To be clear, I expect a correction at some point, despite any of my other 'to da moon' posts I may have made (gotta enjoy it when its going well!). I just don't think you can say this move isn't supported by volume based on the data I have seen so far.
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Ah, ok scratch that - I see from your chart... |
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Sorry, cross posted before your reply - the question remains - how much lower BTC volume?
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overall bitcoin volume is much lower than in april.
How much lower? |
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I was thinking of the possibility of a new crash to come this weekend. Seems to me that the recent growth is too big to be sustained, it's really exponential!  Queue angry, self assured, post rationalizing Bitcoin zealot in 3....2.....1......  It is quite interesting there is little to no volume beneath it like April. Nice chart. This "low volume" you speak of...? http://bitcoincharts.com/charts/btcnCNY#rg360zigDailyztgSzm1g10zm2g25zvzcv |
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Better to fret about how much to sell, than how much you could have bought |
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I've found that the percentage I am comfortable holding tends to get stomped on by the percentage that alt coins wants to be |
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Angels fly, because they take themselves lightly. Well done, OP!
Well thanks! thats probably the nicest thing I've ever seen posted on this forum ever! |
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