America & the World V: DOGE Business

[briareos_kerensky]

Oh dear lord four more year of this...and Melania now has a memecoin...which devalued Trump's by 30 to 40%. How people believe they can make (real) money in crypto by buying is beyond me.

[fishbowlhead]

Oh dear lord four more year of this...and Melania now has a memecoin...which devalued Trump's by 30 to 40%. How people believe they can make (real) money in crypto by buying is beyond me.

You don't make "real" money from it, that's not the point, the point is to get you to put your money that's actually in the system and has been earned (and exists) into something that doesn't exist to make it real somehow, or at least make it look real.

Its nothing but slight of hand but with numbers and encryption, its just ridiculous.

[Neon Ignition]

I'm launching a new Crypto Currency called NeonCoins, there will a dozen issued making them incredibly rare and sought after.

Don't let this opportunity slip you buy! To dive in on this amazing investment send £500 of your very real English Pounds to...

[wakka]

To where? Where?!! I don't want to miss out!

[MartyG]

Oh dear lord four more year of this...and Melania now has a memecoin...which devalued Trump's by 30 to 40%. How people believe they can make (real) money in crypto by buying is beyond me.

You'd have made 500% profit if you'd bought TRUMP crypto and dumped them straight away, that's how. I was tempted but I couldn't bring myself to be even slightly associated with the Trump brand, however fleeting.

edit: That was the wrong link, so peaked at, 700%: https://coinmarketcap.com/currencies/official-trump/

If you'd have bought $1 worth of BitCoin when it launched, you'd have gotten yourself 1,309 of them, people did equally well on DOGE, I made a few grand with Monero and NiceHash mining until leccy prices made it unprofitable. Current price of 1 BTC is about £86K. Coulda, woulda, shoulda. Those kinds of gains are well in the past sadly :/

[briareos_kerensky]

You'd have made 500% profit if you'd bought TRUMP crypto and dumped them straight away, that's how. I was tempted but I couldn't bring myself to be even slightly associated with the Trump brand, however fleeting.

That would be a pump and dump, something a lot of coins protect against, at least during the initial months. IIRC both Trump memecoins have some kind of protection against this, but when the tokens unlock in a few months you'll see the value dropping fast as the biggest wallets sell fast.
Both coins bank on the fact that many Trump supporters will buy into the coin and won't sell because either they don't know how to do it (crypto can be pretty daunting and not particularly straightforward at first) or because they think the value will continue to grow, only to see everything turn into vapour.

[MartyG]

For sure yes, it's a MEME coin and not something you'd want to plow a lot of money into. If Trump deregulates the crypto market as expected though, you will see coin values rise, BitCoin being likely to gain another 20% or so. Trouble now is that to see any sizable return, you need to invest a fair chunk, not something I have the funds to risk.

All my crypto investments are fairly small, but I have made a tidy profit out of it.

[briareos_kerensky]

How are they taxed in the UK? Taxation changed in Switzerland and that made crypto investments almost moot, particularly if you are a foreigner.

For sure yes, it's a MEME coin and not something you'd want to plow a lot of money into. If Trump deregulates the crypto market as expected though,

And that's my main point, everything and everyone is launching these crypto coins, with only people who made this their daily job knowing how and when to quit. The rest are there thinking they can make a quick buck without doing anything only to see their investment nullified.
Having the president of the US (or any other high-ranking official in any other nation) launch a coin when they will deregulate the market even more with the clear intent of taking as much money as possible from anyone is just wrong.

[MartyG]

How are they taxed in the UK? Taxation changed in Switzerland and that made crypto investments almost moot, particularly if you are a foreigner.

Capital gains when sold.

Having the president of the US (or any other high-ranking official in any other nation) launch a coin when they will deregulate the market even more with the clear intent of taking as much money as possible from anyone is just wrong.

I'd not disagree with you, but putting £100 into TRUMP and hanging onto it for a year as the market cap increases if you can afford to lose it wouldn't be the worst idea ever if you'd grabbed it at launch - I just couldn't because Trump.

[briareos_kerensky]

Capital gains when sold.

Just when sold? That sounds good. Here it's taxed based on how much you have at the end of the year, like normal bank accounts.

[MartyG]

Or if you purchase something with it - there's a £3K threshold per annum allowance (at least now, used to be higher), I've always kept my cap below that limit. That tax applies to any gains, so if you sold your 1990 Nintendo World Championships NES cart you got at launch, you'd need to pay CGT on that as well. I think that cap is probably a little bit too low now to be genuinely fair, £3K easily gobbled up in monthly outgoings.

You have to self-declare, I'd imagine plenty of people don't that should be paying, but unless you're audited then chances are you'd get away with it - hefty penalties if you're caught out mind.

[egparadigm]

I'm launching a new Crypto Currency called NeonCoins, there will a dozen issued making them incredibly rare and sought after.

You mean all these forum posts you do, serving up fresh news to the community, was just so you could sell crypto? 😲

[kryss]

playing the looooooooong game.

[briareos_kerensky]

You have to self-declare, I'd imagine plenty of people don't that should be paying, but unless you're audited then chances are you'd get away with it - hefty penalties if you're caught out mind.

I guess it depends if you set up your own wallet or use an exchange service, but all the services I've seen require some sort of ID and even give out tax documents for the country you live in, and in this case, tax bodies know already.

[Nu-Eclipse]

Trump pardons January 6 rioters and exits Paris climate agreement in slew of executive orders – US politics live

No great surprise about the pardons for the insurrectionists, and whether people want to admit it or not, Biden set the precedent for this by issuing pardons that he shouldn't have issued either.

This will now ALWAYS be a thing with US Presidents going forward.