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23-12-2017, 08:17 PM | #1 | ||||
FF.Com.Au Hardcore
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Quote:
Quote:
https://www.ato.gov.au/General/Gen/T...cally-bitcoin/ https://community.ato.gov.au/t5/Gene...tcoin/td-p/980 Rough general rule of thumb is same for most investments, sell under 12 mths, declared as income after expenses taken out. Sell after 12 mths, classed as a capital gain, so you only have to declare half, after expenses taken out. Interesting that after 01Jul17, no GST on crypto transactions - nice PITA to not deal with at the moment. |
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21-12-2017, 12:49 AM | #2 | |||
FG XR6 Ute & Sedan
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http://www.bbc.com/news/technology-42425857
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regards Blue |
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21-12-2017, 11:12 AM | #3 | ||
Central to all beach's
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It would seem that the predicted drop in value for bitcoin MAY have started. It has in the past bounced back after dips like this but that was always from a lower level. Can only be good for ripple. I feel very sorry for people that have sold their house etc to fund bitcoin purchases. But then again that would never be a smart decision to make.
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21-12-2017, 12:31 PM | #4 | ||
GT-P With An Ego
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bitcoin has dropped many times before, and has so far without fail risen to new highs.
heck, this drop isn't even all that big (as a % of value), being about 10-15% drop (depending on exchange and fiat you compare to), previous drops have been 50%+. It'll bounce back, I've no worry about that. Only the skittish will lose out.
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21-12-2017, 12:55 PM | #5 | ||
Wait, what?
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Location: South eastern melbourne
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Apparently bitcoins creator very recently cashed out, saying it was too risky, I’m sure he’ll be comfortable
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21-12-2017, 02:47 PM | #6 | ||||
GT-P With An Ego
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Quote:
Bit the creator of a website talking about bitcoins. So hardly a big deal, but people blow it out of proportion. Quote:
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21-12-2017, 01:35 PM | #7 | ||
FF.Com.Au Hardcore
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Crypto sure is a lot different to the stock exchanges if that stuff is common and accepted - can you imagine the meltdown if a stock exchange was to drop 10-15%, let alone 50%?
Do the stock traders also play with crypto these days, or do they think themselves 'above' it all or don't understand it enough to be involved? With some of the major swings it looks like there is potential for big gains (which I would have thought would have attracted them), but then that also means there is potential for massive losses. I decided to have a half-hearted shot at it, but nothing like the guys right into it in terms of amount invested and day-trading or minute trading. Took the wise advice earlier in this thread to only gamble what I am willing and able to lose...set up an account on BTC Market, grabbed 350 ripple at $1.03 AUD early this week, and will just hang on to it and simply check in monthly throughout next year to see where it is at and if anything has happened. That's as far as I will ever go - no trading in and out of crypto on regular basis, no buying more of what I have. Only thing I will do from here (also suggested earlier) is, if it were to take off, sell enough to cover what I have invested. If it turns to crap then all I have done is lost less than what I would spend across a Clipsal weekend...if it stays roughly where it is then I lose very little or lose nothing. |
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21-12-2017, 01:44 PM | #8 | |||
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Quote:
However, the problem with Bitcoin & altcoins is there is no formal control in place unlike share trading where everything is above board and regulated. |
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21-12-2017, 01:44 PM | #9 | ||
Donating Member
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If I ever get approved I will be doing the same.
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21-12-2017, 01:55 PM | #10 | ||
FF.Com.Au Hardcore
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Weird reading about people taking so long to get approved. I entered basic details (email and password) then did a spam-bot thing where I had to pick squares that had vehicles in them.
Passed that, got sent an email to validate. Clicked the link to validate and it took me to a page to enter my personal details (name, date of birth, address, phone) then a further page for further validation. Entered only my SA driver's licence, was formally validated within 10 seconds and account created. Deposited $400 into BTC Market account using POLi from my Bankwest account, which required entering a code sent to me via SMS...it took about 2-3 minutes for it to hit my BTC Market account. Then I grabbed some Ripples. All up it took between 10-15 minutes from no account at all to an account with ripples in it. |
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21-12-2017, 02:19 PM | #11 | ||
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There is a saying that once an investment opportunity such as a new technology goes mainstream and your grandfather understands and adopts it... The gold rush days and high returns are all but over.
It's like those that had the foresight to invest in the early days of Apple and Microsoft shares... 20 years later, those early adopters made a fortune, but much harder to see fast gains today. Remember this 20 second scene from Forest Gump Here's the thing with Bitcoin... Most keen investors would like to double their money before jumping ship..... The get rich quick types. At the current price at circa AUD$21,000.... What are now the chances of it doubling to $42,000? Maybe it will, maybe it won't, but in comparison to buying an upcoming altcoin like Ripple at only AUD$1 and early days, you are getting in at the ground floor level like backing Apple in the 80's. There is far greater chance and probability that Ripple will easily double to $2 in the near future. |
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22-12-2017, 04:54 PM | #12 | |||
Boss 335
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Quote:
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22-12-2017, 05:53 PM | #13 | ||
FF.Com.Au Hardcore
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22-12-2017, 06:03 PM | #14 | |||
FF.Com.Au Hardcore
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Quote:
I did drivers licence as well, it created my account but then said a letter with a validation code had been sent. Sent from my iPad using Tapatalk
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2017 Mustang GT (Magnetic) |
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22-12-2017, 06:04 PM | #15 | |||
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Quote:
Sent from my SM-G935F using Tapatalk
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22-12-2017, 06:48 PM | #16 | ||
FF.Com.Au Hardcore
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Nope, just SA licence number (but I do look retarded in my licence photo).
There is another site I lookeed at - CoinSpot - that does ask for stupid photo of you holding sign, so did not go with them. Even though I have bugger all compared to the real 'ballers', I'm considering name change to Ripple Piggle |
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21-12-2017, 02:27 PM | #17 | ||
FF.Com.Au Hardcore
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I did some solid research...Ripple's icon looks like my kid's fidget spinners, and it is the only one I can afford given I only ever plan on playing with a few hungy.
Like I said: SOLID research! |
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21-12-2017, 02:57 PM | #18 | ||
FF.Com.Au Hardcore
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Go to admit my previous flippant comment re my research was a joke.
Read up a little bit on Ripple and found what is possibly the good (intent/purpose for settlements and transactions, partnerships with AMEX, etc); the rumours (maybe being added to Coinbase, the pending announcement with two big companies one of which could be Amazon); and the possibly bad (their infrastructure could be adopted by financial institutions and used without Ripple's currency). Then I accepted all that research is stuff I read on the net. With the amount I am playing with I am not looking to do this for a living, not expecting to retire off it, and not going to hurt if I do my nuts on it...but still read up a bit anyway (enough to learn that what I intend to do is HODL). |
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21-12-2017, 03:32 PM | #19 | |||
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Quote:
Take that play money you are prepared to gamble and put it into Altcoins instead. At the end of the year... You might well find you are well infront. |
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21-12-2017, 03:26 PM | #20 | ||
Central to all beach's
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Todays numbers show how volatile crypto's are. Ripple up 12.6% over the last 24 hours and still looks to be running. It will drop back but if I was serious trader I would be selling about now and hoping for a drop to re-invest.
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21-12-2017, 03:55 PM | #21 | |||
FF.Com.Au Hardcore
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Just approve Phatal already you bastards. |
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21-12-2017, 04:41 PM | #22 | ||
Donating Member
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I wonder if it is because I used a gmail email account? Maybe it is viewed as dodgy. Might try another account and see what happens. Probably get two letters....
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21-12-2017, 03:49 PM | #23 | ||
GT-P With An Ego
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and you have more of a say in what your investment will do than what the lotto balls, dogs or one armed bandit will do.
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21-12-2017, 03:50 PM | #24 | ||
Donating Member
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Ripple was back to $1.01 this morning now smashing $1.24.
So frustrating to watch whilst I wait for a letter. Sent from my SM-G935F using Tapatalk
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21-12-2017, 03:57 PM | #25 | ||
Central to all beach's
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Frustrating indeed.
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21-12-2017, 04:01 PM | #26 | ||
Central to all beach's
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The CEO of ripple is making an announcement tomorrow our time. I dont know what it will be but my guess the current run is speculation of something good. When good announcement is made the run will step up possibly.
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21-12-2017, 08:08 PM | #27 | |||
irregular member
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Quote:
I've subscribed to their updates but want to know where else I should be looking. Thanks |
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21-12-2017, 08:46 PM | #28 | ||
Central to all beach's
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Youtube... also there are facebook groups...
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Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html Last edited by Outbackjack; 21-12-2017 at 09:01 PM. |
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21-12-2017, 09:25 PM | #29 | ||
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Thanks, I don't do Facebook but I've been searching tonight for any useful info I could find.
I did see some anonymous buyer purchased 900 million XRP on 16/12/17 at a cost of $700 million USD! I'm guessing someone willing to invest that much into Ripple has a good idea of where its headed...........Let's hope so. |
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21-12-2017, 09:40 PM | #30 | |||
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Woudn't it be nice to have such a large pot to play with. He only needs to see XRP rise by 10% and he's made US$70 million ! Even 1% is a cool $7 million profit. |
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