I don't think I have much choice but to declare at least a certain percentage of my coins. How else am I supposed to use these coins to legally buy a property in the far long term if Bitcoin goes over $100k?

Maybe there are tricky and bumpy ways to get it done alternatively if I dig deep enough, but I'm not really interested in too much hassle. I know it's the easiest way out, but at least it's my decision.

Owning a property where I live has actually some tax advantages as well, so it's not that I am only losing out by swallowing a tax hit over my to be reported coins. Maybe I can even use Bitcoin to pay for that property.

Spending Bitcoin means I'm not subject to direct capital gains that would occur if I convert it to fiat.

Of course it's not much different, because it's a collaboration between Vaneck and SolidX.

The thing is that this ETF is backed by Bitcoin, is insured, and pretty much excludes a large part of the retail investors because of the $200k entry point. The latter is a very important factor for the SEC apparently.

For some reason they are fine with institutions buying exposure to Bitcoin, but don't want retail investors to do so. The logic behind that might be that institutions do their homework while retailers are more impulsive.

While I can agree that being knowledgeable definitely helps, it however doesn't make you successful in any shape or form. It only grants you slightly better odds over someone that knows less than you.

I would even say that the more you think to understand this industry, the more you'll see how empty it actually is. There are no proper investments in here, and trading for most people here is similar to gambling.

Luck is the main factor in this industry due to its speculative nature. I haven't taken positions in any coin other than Bitcoin and that will probably not change. I'm not impressed with the rest of the coins.

Actually, bcash has gained a significant use bump due to BitPay's acceptance, saying that no one using it is not correct. BitPay is pretty easy to use with your mobile wallet client. You may not use or like it, but others do.

BitPay has the banking aspect on its side that other payment processors would love to have but can't obtain, unless they want to throw around with millions in legal fees and whatnot, but it's not very likely.

I'm at least happy they didn't select bcash, which would be an utter waste. I still cringe when people say they are more bullish on bcash than Bitcoin. There is nothing bullish about bcash at all.

It's just as slow or fast as Bitcoin, but far more centralized. It's not good on-chain money and it never will be. Litecoin on the other hand is excellent on-chain money. Cheap and fast confirmations is all you need.

If you discard the stress testing transactions (it's a thing apparently) of bcash, Litecoin processes more transactions on a daily basis. Why? Because it's far better on-chain money.

Also, Litecoin does it without BitPay support and without hype. Imagine if BitPay would support Litecoin......

What proper "information" are you referring to? The only thing Bitcoiners can hold on to is that it is a good long term bet if you hodl. Other than that the market itself is as much of a mystery for everyone here.

The thing is that even hodling isn't as easy as some people here think it is. In order to firmly hodl your coins you need to know what it is like to go through massive corrections.

People quite often tend to act like they are planning to hodl, but that's only on the way up. Everyone can do that. Most people break once the price keeps going down consistently for month after month.

It has been bleeding for months straight without any improvement. If you consider a consistent dramatic decrease in volume to be something that will keep an exchange operational for ever, you're just delusional.

Poloniex users shifted to Bittrex to be free from their incompetence, but not long after that Bittrex started doing the exact same thing Poloniex did to them before, and now Bittrex is bleeding as well.

It seems that Binance is the only capable altcoin/token exchange left, which explains why it's so popular. Binance even stimulates people by crediting air drop tokens automatically, that's what I call a good service.

Who doesn't like free money?

Yes, but if you continue to complain about corruption but don't do anything to change your situation, nothing will ever change. No one will help you to change, it's all up to yourself.

I don't even mind corruption anymore, because we can't do anything about it. I only care about how I can avoid being a victim here, and using Bitcoin is a great way to accomplish that. It's simple and extremely effective.

I feel sorry for the average joes because they don't see the threats we see, and for that reason think it's normal to see all this happen. It's partly ignorance and brainwashing, but we can and should help them get over it.

Everyone deserves freedom, not just the elite.

That's extremely bullish. If you also consider that most people only enter this industry with a small amount, there is so much room for future growth that we can't even imagine what the price will be in the next 10 years.

A local survey here pointed out that people might park 10% of their savings in Bitcoin if the infrastructure and local adoption increases as well. The average person wants to feel adoption, not just read about it on the internet.

I can definitely see how last year's bull run resulted in more adoption. The price might have gone down significantly from its peak, but we have plenty of new users on board, which is more important in my opinion.

That. People tend to underestimate how much of a niche market crypto even today is. If one single Tweet or regulatory decision can shake up things, you know that expecting too much will land you in troubles.

People should think about what the market would look like right now without an ETF being relatively close. It probably would be testing last year's November low this month and maybe even dip below it.

If I'm not mistaken the futures were announced at the moment the price was like $4000 (give or take a few hundred) last year, meaning that even $5000-$6000 probably wouldn't be able to hold for long.

Basic logic: if it can pump with $600-$700 quickly, it can dump with these values just as easily. We have seen that happen a few times this year already, and this may be the next one in line.

Good thing is that I don't mind if the price returns to pre pump levels. I'm in full accumulation mode and aren't planning to sell anything this year, unless the price breaks $20,000 but that's unlikely.

Right now altcoins are tanking while Bitcoin is holding strong, which might indicate that that altcoiners are slowly taking positions in Bitcoin. Their BTC ratios have taken strong dive, especially Ethereum.

I'm not from Switzerland, but your example also applies to my jurisdiction. It's theft for sure, but governments don't care what happens as long as it is within the current fiscal year.

I contacted my attorney to have him figure out what happens if someone miraculously gains back access to his old backups, which is a very important matter for me as long term hodler.

The point was that as long as you can prove that the coins haven't been moving, you can freely declare the value of your holdings at the 1st of January. In other words, you don't have to pay tax over the previous years.

It would suck badly if you was forced to pay tax over the last couple of years at once. I however don't know how long they are willing to keep that up if people suddenly claim to have gained access back by large numbers.

Let people remain stupid and clueless. If everyone in here was even remotely aware of how this market works, we would be hovering over $50,000 by now. In other words, people's stupidity allows you to buy Bitcoin at fair prices.

Once wall street enters this market with their capital of war, you can be sure that you won't be able to buy at current levels anymore. I'm thankful for the opportunity to accumulate coins today at sub $10,000 levels.

The longer we stay below $10,000 the more rewarding my dollar cost averaging strategy will turn out to be later on. We won't hover around current levels for ever, so make the best out of it if you have free to use capital.

I totally understand your frustration, but there is not much to do other than waiting for them to come through with a solution. Poloniex won't steal your funds, they have way too much to lose in order to pull that off.

The authorities can't do anything in this case because there has not been any fraudulent activity, it's purely incompetence and the lack of manpower to look into it in a timely manner.

Poloniex has stated (months ago) that they will employ more support staff, but it seems that the situation is just as bad as how it was before the acquisition by Circle, which is pretty unacceptable.

It's annoying as heck, but have patience.

It could be similar to what happened back in April. The price shot up from well under $7000 to nearly the $10,000 mark, where after that we set a new low for the year well under the $6000 mark.

I don't see much reason for longer term optimism with that in mind, especially with how the downtrend remains up as long as we don't break the $10,000 mark. Patience is key here and will definitely pay off later on.

It's understandable that people get excited everywhere, but this market is too unpredictable to value it based on what happened in the last days. Dollar cost averaging remains the best way to deal with it.

Client is king. Last year banks have been bombarded with requests to invest in crypto on behalf of their clients, and I'm quite sure the same thing is happening here. It's nearly impossible to ignore.

Goldman Sachs has settled numerous crypto related trades on behalf of their clients, and it seems that JPMorgan has done the same thing. People want proper returns instead of the boring 2-3% annual returns.

Some had more luck with their timing than others, but there are enough clients that have done exceptionally well. There is a lot money waiting to enter, but not enough regulated platforms to utilize.

I fit in the same category and I'm from Europe. If that isn't enough, I am also forced to pay tax over my total holdings on a yearly basis. Even if my wealth tanks hard I still have to pay tax.

It basically means that if you have €100,000 on your bank account, you regardless of the situation have to pay 1.5% over that capital every year. In other words, having money costs money, which is completely retarded.

I am not entirely against paying tax, but this form of taxation is actually theft. Calculate for yourself how much of that €100,000 is left after years and years of paying 1.5% in tax.

That level could turn out to be the lower high to beat, and that perfectly fits in the downward trend we have been going through pretty much this entire year. A small bump up is nothing more than a small bump up.

People tend to over-exaggerate the market situation during a what looks to be a small scale recovery. The 12h chart looks pretty bad and there isn't much that can change that other than a strong jump over $8000.

I first like to see the volumes show a proper increase, because as long as that isn't happening the odds of a recovery are still extremely slim. At least we can keep accumulating, that's the good thing.

You are pretty sure of yourself in a market not deserving any actual confidence or optimism. There are no certainties and we might yet again fail to break ~$6840 and fall down to the $6000 mark.

The volumes aren't really convincing and we probably won't have a large player spontaneously bumping the price over that important level. The overall downtrend is still pretty strongly represented.

I won't get excited about the market unless we break the $8000 mark. If you look at the all time chart and scroll out completely, you'll realize how retarded that near $20,000 peak looks. It makes you respect current levels more.

Even 1% of their capital in Bitcoin would be a sufficient enough hedge to protect their overall asset value in case something forcing the regular economy down and the crypto economy up.

At some point there will be a time where barely anyone here gets surprised about anything that happens. We're going through something that we probably won't ever get to witness again, so let's enjoy it.

When Bitcoin is the developed asset we think it will or might become, the average person is back to stage 1 of their miserable life. They singlehandedly wasted the opportunity of their life.