I've started to experiment with a bit of basic trading, and I'm making some small profits. It's a fascinating mix of statistical analysis, historical research, news awareness, psychology and patience. I think it is great training for the future.One is going to need those skills to survive during the future economic and political changes.

Thank goodness for the creation of Bitcoin. It gives us the chance of self-sufficiency and self-determination.

I think it would be a mistake. It will be obvious that it isn't an official BT charity, and people will think that it is a scam, even if it isn't.

In my opinion it would be better to use a catchy phase such as "crypto for good".

I'm retired now, so I spend a lot of time reading about current events, and trying to track back the history that led up to them. For example - the "vision" of Cecil Rhodes and the Rothschilds that led to the creation of the EU. The way the public were tricked into accepting fractional reserve banking, and the creation of Unicorns.

I registered a few useful domain names, and I really think it is time I started to use them to open up some discussions. I think it is wrong that thousands of citizens in Venezuela are being killed, just to preserve the Koch brothers oil empire for example.

I don't believe it is as simple as that. If I buy gold Britannias to speculate on the price of gold, then any gain is tax exempt because they are legal tender. I've had discussions in the past with regard to selling domain names for US dollars, and the tax situation seems to be that the point of sale is the transfer of the domain, and not the exchange of the dollars. If Bitcoin is recognised as a currency, then the exchange may not be taxable. This avoids the IR having to allow for currency losses. It's the same idea as any profit you make on selling your car is not taxable, unless you are deemed to be a motor trader. The revenue does this because most people make a loss on their cars. I wonder if any precedents were created as a result of people not being able to claim tax relief after the great price crash.

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I found this government document.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/192091/foreign_currency_bank_accounts.pdf

It seems that if the account is used for personal expenditure, then gains are not subject to tax. This avoids the overhead of having to file returns for every transaction.

Well if that were the case, then you could get roll over relief, but if you claim that, then you would be taxed on the receipts for the Bitcoin. My feeling is that it depends on their decision as to your Bitcoin activities. If they think of you are a currency dealer, then you may have to pay tax on the Bitcoin price rise element. If they consider Bitcoin to be a currency, then I suspect you may not have to pay the gain. Even more interesting is the use of gold Britannias. They are legal tender, and as such have a value of £100. Because they are gold, then it will cost over £1,000 to buy one from the royal mint. Because they are legal tender, they are exempt from gains tax and VAT. Thus selling the domain for 4 Britannias would give a sale price of £400, and only £300 of that would be taxable. Obviously this will only work in the UK.

One other aside of this is that you may have to purchase tangible goods with Bitcoin to avoid becoming a currency trader. I bet there aren't many tax accountants that can venture an opinion given the changing status of cryptos.

I'm in England, and I'm not an accountant or a tax expert, so this post is purely personal speculation.

There is some serious speculation about the price of Bitcoin in a year's time, and some say it will be over £250,000. This may or may not be true, but is does seem probable that it will be substantially higher. This has led me to consider the possible taxation of any gains. Buying coins as an investment, and holding them in the expectation of future profits, would seem to create a trading or capital gain liability. However, there are other way of acquiring Bitcoin.

I have accepted Bitcoin in exchange for domain names, and it is these transactions that I want to consider. If I purchase a domain name for $10, and I sell it for $210, then I have made a profit of $200 less the cost of acquisition. I understand that the tax liability occurs at the time of disposal, and the profit is calculated by converting the dollars into Sterling at that time. If I hold the dollars and convert them at a later date, then that doesn't seem to create a further profit or loss. Now it starts to get interesting if I accept Bitcoin for the sale. One can argue that Bitcoin is effectively a currency, and thus the same rules should apply. Let take an example - if I purchase a name for £100, and I sell it for 1 Bitcoin, then I have made a profit of £4,000 ( assuming the current value of Bitcoin is £4,100) less acquisition costs. If I keep the Bitcoin for a year, and the price rises to £104,000, then I believe that the "extra" £100,000 is not liable to tax. I'd be interested to hear any other views on this.

If you are a HODLer, and you increase your Bitcoin wallet by selling non-crypto assets, then it would seem wise to keep accounting records of your transactions to help in any future negotiations with the tax authorities.

Thanks for posting that. Namecoin might be a useful coin to use to test that old ASIC miner I picked up a while ago.

All these sanctions reduce the sanctioner, and are often counter-productive by strengthening the sanctioned. Washington's actions are creating more problems for the US, than for Russia, China and many of the other countries it is attacking. The same seems to be happening with Facebook, YouTube, and the like.

In my younger years, many countries had monopolies commissions to ensure that competition kept quality high and prices low. Since the bankers have taken over the large businesses via fractional reserve banking, and the creation of debt, we have been told thar consolidation and centralisation is far better for us. Obviously this isn't true, as it increases the tax burden on the working public, reduces quality, and keeps prices higher. Of far more concern is the control these mega corporations have over news reporting, our health and our permitted behaviour.

Which part is incorrect?

I've just received an announcement email from them.

The Moonlet wallet ( never heard of it ) now supports .zil domains.

They have decided to remove renewal fees, so if you have a .zil domain, then you own it for life. I haven't checked to see how you use it yet.

There are some other items related to Twitter and Telegram. Let me know if you need details.

This is an interesting report, and it seems to highlight the reasons for the conflict in Venezuela.
https://www.youtube.com/watch?v=-P6fdY-5K0w
I'm in England, so it is difficult to determine the real facts, but it does seem that the current conflict is a class war, and is aimed at oppressing the bulk of the population to protect the wealth of the elite. Guaido has been trained at the Washington College for International regime change, and he does seem to be attempting to protect the interests of the Koch brothers, rather than trying to remove the deprivation that is being imposed on the bulk of the population. Obviously Washington does not want changes started by Simon Bolivar to spread to other South American countries, but DC is destroying America by trying to impose globalist control across the world. It would be far better if they switched to the economic cooperation policies of China and Russia, and stopped relying on failed military intervention. It would also help the environment if they stopped the destruction that results from their war mongering.

I mention the activities of Washington in this post, because that is the public front for the globalist activities. I am aware that the real control comes from the supra-national empire that resulted from the creation of Cecil Rhodes and the Rothschilds, and is orchestrated through the City of London.

Political correctness now demands that we no longer have races. This is because there are winners and losers, and that is unfair to the losers.

The OP is a bit confusing, but I'm not sure they are offering to sell merits. I think they are trying to get members with an existing high merit count to promote their product. Perhaps somebody could clarify the situation.

btw. I don't think that I want to get involved without the provision of a lot more information.

I don't think merit has anything to do with trust. A guy with poor English may not earn any merit, but that doesn't mean he is dishonest, or can't be trusted. A smooth talking poster may have loads of merit, but could turn out to be as honest as Theresa May. As always, if you are trading with somebody, do your own checks first, and form your own opinion.

Thanks to you guys for supporting the coffee lounge, there are some interesting topics here. I was going to reply to JackG's bread post, but I would just be banging on about Iodine and Soya. The typing topic looks to be a bit more interesting. I can't really contribute to it though, as I am a self-taught, two fingers guy.

I've stepped back to review my attitudes and abilities. I missed out on all the profits available in the recent price increases, and I doubt if I made more than £100 profits from my trading account. The HODL account still has not had any withdrawals, so that is reaping the benefits of course. I think my problem is that I tried to maximise my trading profits, and as a result I seem to have kept missing the chance to reap small profits. I seemed to keep misreading the market, and trying to buy too low, and sell too high.

 It looks as if we will be starting a nice bull run this year, so I'm going to try a different approach. Instead of trying to predict the bottom in a correction, I'm going to say "this is a good time to buy", and then try to buy at the current level. I'll take a similar approach to selling. If it looks as if I have misread the market, and have made a short term loss, then I will just move the Bitcoin into my HODL account, and replenish the trading account with fiat. I've missed too many bull runs because I had an open order at too low a price. I've just cancelled a buy order at £3,200 because the current price is around £4,400. I don't use any gearing, so I don't have any prospects of losses. This assumes that the long term prospects for Bitcoin are bullish of course.

[Alternative coins]

I've also been looking at a few other coins for HODLing. There are three that I've been able to collect for no investment, and these are BAT ( Basic Attention Token ), Steem and Bit Blocks. BAT looks to be the best of these, and it is linked to the Brave Browser. If you are thinking of using the Brave browser, then click on the affiliate link for your favourite Bitcoin Talk member, and you will collect a few starter coins.

[My new buying position]

I think we may have a correction soon, so I've opened a buy position at £4,301. I suspect it will go lower than that in the short term, but I'm a bit fed up with missing out all the time, and I believe that we will have a strong bull run later this year, or even this month.
Another update - that buying order closed at about £2 above the low of the day. It will be interesting to see how the price moves now. I still think it could drop a bit more tomorrow or Monday, so maybe I should top up my account with a bit more fiat.

This guys trading desk is insane, and he seems to spend all day watching all those screens.

https://www.youtube.com/watch?v=tmrrWnZimEQ

I started to get interest in this concept when I noticed some strange coins in my change. I've been keeping them, but I haven't tried to sell them yet. It seems that some of them are selling for insane sums, sometimes in four figures. I get the feeling that as we move into a reduced cash and crypto economy, some people will start to collect the rare and unusual coins. Are any of you guys selling any of the coins you find in your everyday change?

I quite like Morrison's at the moment. They seem to be trying to pull themselves up in the rankings by improving quality. I'm getting some stunning deals from the clearout shelves as well - 6 Burford Brown eggs ( normally £2.50 ) for 15 pence for example. They seem to be seriously challenged by technology though. As I have mentioned before, they have blocked their own splash page as having unsuitable content. They also block my sites because they picked up that I'm interested in Bitcoin, but they haven't blocked Bitcoin Talk. They've blocked coinbase pro, and bit blocks as well. However you can access them all if you use the Tor window in the Brave browser. They also promised to award an extra 100 points if you use their cafe ordering kiosk, that worked for about a week, but now it fails to give you the extras points. Those are only worth about 10 pence, so I haven't bothered to push the issue, sometimes I stay in the cafe for 6 or 7 hours, and I only buy one cup of tea.

I stripped the tablet, and everything thing is so integrated that it didn't seem worth trying to recover anything. A couple of the boards were fractured, and it isn't designed to be disassembled easily. There wasn't an SD or a SIM card in the machine.

Amazon sells a nice WiFi adapter for about £45. It has a range of up to about a kilometre, and it allows for full control of the chipset. I'll buy one and let you guys know how I get on with it, but first I need to sort out a few more things in the van.