Thanks. I have been preparing too and waiting for a correction to buy in low. It is difficult to sit here and wait as prices go up though. It is taking all the restraint I have.
3.40 - You mention capital gains tax. It appears that crypto is being treated as an asset and not currency, so the HMRC treat it as CGT and no income tax. Now you get a tax free allowance for CGT in the UK of £11300. The 20% you mention is only if you are a higher rate tax payer
I amazed when i seen posts in trending.
some post from new and some from old steemians.
i tried a lot but can't crossed 7$ yet.
but post like this motivates me to write on steem.....
all the best to all and me:)
Exactly my thoughts. I've been waiting for a correction for some weeks now but the market just keeps rising... I'm getting nervous as well. Maybe we well see how this plays out after the second future launch. Definitely wise to take some gains and have some fiat around to reinvest at lower levels.
The golden hour is the best time to shoot video outside, there are two technically, the hour before the sun actually peeks up above the horizon and the hour just after it touches the horizon. Film crews spend all day getting ready to shoot in that window of perfect even light.....Keep up the good work. Do you cash out in fiat? if so I assume in UK you are paying your capital gains on that as well or how does that work out for you each time you cash out?
Yup, market will correct itself soon as most of the Cryptocurrencies in their all time high and few with unexpected growth rate. This correction will filter all short term/day trading investors. Only those who have prepared their self for market correction and has no issue in holding for long will remain in the market.
For me, I really had to take time to examine what my emotions were versus core beliefs. Logically I believe that bitcoin longterm will be worth way more than it is now. I also think that the run up has been ridiculous and will eventually be corrected and I want to be ready for that.
How do I balance those? Well, I bought in low enough that I will not become unprofitable if the market corrects even 70 percent. If however the market shoots up to 30k, and I have sold even a fraction at 17, there is a chance I'll never be able to have the same amount of bitcoin. That is the regret that would be worse for me, so I avoid it.
Instead, I took a haircut- about 2 percent from all my coins and cashed it out but kept most in Gdax, so its ready to jump in again if I need it.
Also, hi! I follow you on youtube, it's great to see you on Steemit too. Thanks for all the great videos- you've been a huge part of my crypto education.
Thank you for the video! A great learning for me was the tax issue arising from cashing out. So in many countries, if the correction (if it actually comes) is less than 20 percent, it is actually more profitable to stay in crypto than to cash out and convert into fiat money due to the taxes you have to pay on your capital gains.
Do not sell, Do not try to time the market. Just keep hodling through unbelievable highs and through crashes
That is right!!! Also my opinion.
If you believe in crypto then hold a few good ones and wait for 5 years same is true for stocks.
You're only really generating fees unless you have specific inside information!
I think bitcoin has made correction already when it tanked to 13500
Yes Ethereum and litecoin correction is yet to come.
I am more concerned about litecoin specially when Charlie Lee has given statement about it
I think that there's a lot of people ready to buy your coins....millions of people :)
Thanks. I have been preparing too and waiting for a correction to buy in low. It is difficult to sit here and wait as prices go up though. It is taking all the restraint I have.
Oh man the fake news and IOTA story was hard punch...
But I believe it will recover!
THX for this!!!
I resteem it!
you are great bro
3.40 - You mention capital gains tax. It appears that crypto is being treated as an asset and not currency, so the HMRC treat it as CGT and no income tax. Now you get a tax free allowance for CGT in the UK of £11300. The 20% you mention is only if you are a higher rate tax payer
I amazed when i seen posts in trending.
some post from new and some from old steemians.
i tried a lot but can't crossed 7$ yet.
but post like this motivates me to write on steem.....
all the best to all and me:)
Or you could sell it all now
It looks like bitcoin will fall to $16,000 read this https://steemit.com/bitcoin/@halfbean/bitcoin-to-fall-to-usd16-500
Exactly my thoughts. I've been waiting for a correction for some weeks now but the market just keeps rising... I'm getting nervous as well. Maybe we well see how this plays out after the second future launch. Definitely wise to take some gains and have some fiat around to reinvest at lower levels.
The golden hour is the best time to shoot video outside, there are two technically, the hour before the sun actually peeks up above the horizon and the hour just after it touches the horizon. Film crews spend all day getting ready to shoot in that window of perfect even light.....Keep up the good work. Do you cash out in fiat? if so I assume in UK you are paying your capital gains on that as well or how does that work out for you each time you cash out?
Yup, market will correct itself soon as most of the Cryptocurrencies in their all time high and few with unexpected growth rate. This correction will filter all short term/day trading investors. Only those who have prepared their self for market correction and has no issue in holding for long will remain in the market.
For me, I really had to take time to examine what my emotions were versus core beliefs. Logically I believe that bitcoin longterm will be worth way more than it is now. I also think that the run up has been ridiculous and will eventually be corrected and I want to be ready for that.
How do I balance those? Well, I bought in low enough that I will not become unprofitable if the market corrects even 70 percent. If however the market shoots up to 30k, and I have sold even a fraction at 17, there is a chance I'll never be able to have the same amount of bitcoin. That is the regret that would be worse for me, so I avoid it.
Instead, I took a haircut- about 2 percent from all my coins and cashed it out but kept most in Gdax, so its ready to jump in again if I need it.
Also, hi! I follow you on youtube, it's great to see you on Steemit too. Thanks for all the great videos- you've been a huge part of my crypto education.
Overtime Ive prepared for a correction, Ive regretted it.. HODLing from now on!!!
Cool mate
Thank you for the video! A great learning for me was the tax issue arising from cashing out. So in many countries, if the correction (if it actually comes) is less than 20 percent, it is actually more profitable to stay in crypto than to cash out and convert into fiat money due to the taxes you have to pay on your capital gains.
I think so too
Just HODL! :) unless you're a day trader then this can be a headache
I agree with your great content!! A little correction before another Christmas hard fork boom!!!! :D