Let's reflect together on the future of cryptocurrencies

[Var12]

Does it still make sense to invest in Crypto today? What is the cryptocurrency market waiting for in 10/15 years? Apparently, as we read everywhere, states are gearing up to regulate this market, so it will be difficult to escape future stringent international standards. Buying cryptocurrencies is easy but selling for FIAT is not so easy and immediate if you want to remain anonymous. In a few years the situation could get much worse with a consequent loss of anonymity and an increase in fees. These days I'm thinking of increasing my investments in crypto a bit, but I wouldn't want to regret this choice in a few years. What do you think about it? Does it make sense today to continue investing in crypto?

 

[Jerry1911]

Yes, I still think it makes sense to invest in crypto. Personally, I'm only investing in XMR right now.

 

[JohnnyDoe]

Forum police likes to delete my messages. So I can't tell you that nobody can forecast the future 10-15 years ahead, which is what you are asking.
You should consider what “investing” means for you. Someone invests by going short, for example. Others because they like fundamentals and are not concerned about the market price.
If you are in doubt, don't invest. If you are in fear of missing out don't invest.

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[JackAlabama]

Var12 said:
Does it still make sense to invest in Crypto today? What is the cryptocurrency market waiting for in 10/15 years? Apparently, as we read everywhere, states are gearing up to regulate this market, so it will be difficult to escape future stringent international standards. Buying cryptocurrencies is easy but selling for FIAT is not so easy and immediate if you want to remain anonymous. In a few years the situation could get much worse with a consequent loss of anonymity and an increase in fees. These days I'm thinking of increasing my investments in crypto a bit, but I wouldn't want to regret this choice in a few years. What do you think about it? Does it make sense today to continue investing in crypto?
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Yes. Better buy now than when Bitcoin stands at 70k again. You might look at a 80/20 BTC/shitcoin portfolio if you are risk averse, otherwise 50/50.

Selling for Fiat today is like a factor easier today than it was a few years ago. Maybe you need to look to other places if you find it hard where you are (that could be very well the case, some places went orwellian).

States have been gearing up to regulate since like 2014, nothing is there yet. No bans expected in US with a high probability as they want the insane monster cap gains tax which they would not get with bans (and with current Fed policy but they will find that out sooner than later).

 

[jakubko666]

The start is not thinking how to sell for fiat, but how to help others to accept crypto as primary payment option

 

[Var12]

It would be very nice if you could spend crypto for daily needs, such as shopping at the supermarket or pharmacy. But unfortunately, cryptocurrencies seem to have lost this opportunity. Today, if a medium or large French, German, Italian or Spanish company accepted payments in crypto, it would immediately attract the suspicions of the tax authorities.

 

[JohnnyDoe]

Var12 said:
It would be very nice if you could spend crypto for daily needs, such as shopping at the supermarket or pharmacy. But unfortunately, cryptocurrencies seem to have lost this opportunity. Today, if a medium or large French, German, Italian or Spanish company accepted payments in crypto, it would immediately attract the suspicions of the tax authorities.
Click to expand...

We are still in the fear or fight phase. Obviously banks, and the countries controlled by them, don't like crypto.

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[Jerry1911]

Var12 said:
Today, if a medium or large French, German, Italian or Spanish company accepted payments in crypto, it would immediately attract the suspicions of the tax authorities.
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Large shops in Croatia already accept crypto. Supermarkets, gas stations, etc., including the national postal service through which you can buy/sell crypto. All because of 2 enthusiasts.

 

[JohnnyDoe]

Jerry1911 said:
Large shops in Croatia already accept crypto. Supermarkets, gas stations, etc., including the national postal service through which you can buy/sell crypto. All because of 2 enthusiasts.
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Do they use btc lightning or something else?

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[Jerry1911]

JohnnyDoe said:
Do they use btc lightning or something else?
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Honestly I've never tried it. A company called Electrocoin created a settlement/payment processing system called PayCek - blockchain payments for your business, which they all use. They settle payments in HRK (soon EUR).

Supported coins are: "bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, DAI, ripple (XRP), stellar lumen (XLM), tether (USDT), USDC, Solana, BUSD (BEP20), Dogecoin (DOGE) and Litecoin (LTC)"

The tax authority has no problems with this. You can also invest in crypto as a limited company; they accept exchange rates from reputable exchanges such as Kraken or Binance and the banks don't care.

 

[JohnnyDoe]

Jerry1911 said:
Honestly I've never tried it. A company called Electrocoin created a settlement/payment processing system called PayCek - blockchain payments for your business, which they all use. They settle payments in HRK (soon EUR).

Supported coins are: "bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, DAI, ripple (XRP), stellar lumen (XLM), tether (USDT), USDC, Solana, BUSD (BEP20), Dogecoin (DOGE) and Litecoin (LTC)"

The tax authority has no problems with this. You can also invest in crypto as a limited company; they accept exchange rates from reputable exchanges such as Kraken or Binance and the banks don't care.
Click to expand...

So Croatia is crypto heaven and I didn't know it nai¤%

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[Jerry1911]

JohnnyDoe said:
So Croatia is crypto heaven and I didn't know it nai¤%
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In a way, yes. It's also possible to set up a crypto investment fund but it depends on the amount of connections you need. Homepage - White Bridge Asset Management

I assume that it should be fairly easy to do if you have support from Big4 though.

Furthermore, residents are exempted from taxes on capital gains if coins have been held for more than 2 years. Same goes for shares of an ETF, public or a private limited company (and NFTs I think).

Last edited: Aug 30, 2022

 

[JosephLL]

Jerry1911 said:
In a way, yes. It's also possible to set up a crypto investment fund but it depends on the amount of connections you need. Homepage - White Bridge Asset Management

I assume that it should be fairly easy to do if you have support from Big4 though.

Furthermore, residents are exempted from taxes on capital gains if coins have been held for more than 2 years. Same goes for shares of an ETF, public or a private limited company (and NFTs I think).
Click to expand...

Aaaand cgt is at 12% I tnink, right?

 

[Jerry1911]

JosephLL said:
Aaaand cgt is at 12% I tnink, right?
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It's 10% now + local surtax, which is 18% for the capital (Zagreb). A place you don't want to be living in anyway.

So if you buy something for 10k EUR and sell it for 15k, you'll pay 500+90=590 EUR tax total. Unless you've been holding it for more than 2 years.


Tax on dividends (foreign or Croatian-sourced) has also been reduced to 10% recently, along with the corporate tax for taxpayers with revenues below 1M EUR.

 

[Tartarus]

For thoose who live on country with stable democracy and economic system, crypto future is stil there to exist, but for one who like me from country that have instability and travel limit because region devide by sea future not look great. For now central goverment allow all crypto till they see one that posses threat to their whatever agenda or goal to keep in power, for example monero.

 

[JackAlabama]

Tartarus said:
For thoose who live on country with stable democracy and economic system, crypto future is stil there to exist, but for one who like me from country that have instability and travel limit because region devide by sea future not look great. For now central goverment allow all crypto till they see one that posses threat to their whatever agenda or goal to keep in power, for example monero.
Click to expand...

That is not based on facts. Look at china

 

[369]

JohnnyDoe said:
We are still in the fear or fight phase. Obviously banks, and the countries controlled by them, don't like crypto.
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crypto is a bankers product.
all it needs now is an event to implement governmental cbdc's which is coming.
Banks are in big risks and will fall like in 2008 but way more heavier this time and people will run into crypto because of fear losing their money in banks as in europe you as account holders are also made responsible with yout deposited money for the banks debt

Jerry1911 said:
In a way, yes. It's also possible to set up a crypto investment fund but it depends on the amount of connections you need. Homepage - White Bridge Asset Management

I assume that it should be fairly easy to do if you have support from Big4 though.

Furthermore, residents are exempted from taxes on capital gains if coins have been held for more than 2 years. Same goes for shares of an ETF, public or a private limited company (and NFTs I think).
Click to expand...

consider current crypto like the dot com bubble
big majority will fail and only a few will survive

 

[backpacker]

369 said:
crypto is a bankers product.
all it needs now is an event to implement governmental cbdc's which is coming.
Banks are in big risks and will fall like in 2008 but way more heavier this time and people will run into crypto because of fear losing their money in banks as in europe you as account holders are also made responsible with yout deposited money for the banks debt


consider current crypto like the dot com bubble
big majority will fail and only a few will survive
Click to expand...

Your post appears contradictory:

1. "Crypto is a bankers product",
2. "Banks are in big risk and will fall ..."
3. "... people will run into crypto because of loosing their money in banks ..."
4. "consider current crypto like the dot com bubble
   big majority will fail ..."

Why would anybody want to invest in a bankers product when banks are at risk to fail?

Aside from the above, (large systemic) banks are in much better shape than they were in 2008.
Today a systemic failure like in 2008 is highly unlikely to come from the financial industry.

 

[369]

backpacker said:
Your post appears contradictory:

1. "Crypto is a bankers product",
2. "Banks are in big risk and will fall ..."
3. "... people will run into crypto because of loosing their money in banks ..."
4. "consider current crypto like the dot com bubble
   big majority will fail ..."

Why would anybody want to invest in a bankers product when banks are at risk to fail?

Aside from the above, (large systemic) banks are in much better shape than they were in 2008.
Today a systemic failure like in 2008 is highly unlikely to come from the financial industry.
Click to expand...

bankers always wanted to liquidate paper money to go full virtual to have full control over your money which they have only to an extend in paper money.
however the opposition against virtual money is very big.I remember 20 years ago NOBODY wanted virtual money.
With bitcoin and greed virtual money got popular to some parts of the people.
Now it needs only an event to move EVERYONE to virtual money which will be the fail of banks and "paper money" so people will flee into crypto which supplies are limited.
Its of course a trap as majoroty of these coins will in the end go to zero.
Once this happens the final CBDC's will come out which will be linked to real physical gold to get peoples confidence back however
NOW central banks will have full control of everyones money and spending.
Banks won't be needed anymore everything will be driven and controled via central banks

Why would anybody want to invest in a bankers product when banks are at risk to fail?
Click to expand...

Because big majority belives in the nonsense that crypto is an anti establishment product.

Aside from the above, (large systemic) banks are in much better shape than they were in 2008.
Today a systemic failure like in 2008 is highly unlikely to come from the financial industry.
Click to expand...

Customer banks will fail as this is planned long time ago.
If you would observe the banking market for a bit longer you would maybe have recognized that banks were splitting into customer banks and investment banks.
Customer banks will be not needed anymore after the CBDC's are out.
They will all go down.Some sooner some later however there will be a big bank crisis which will lead that people will flee with their fiat to crypto

Its already starting
https://www.handelsblatt.com/finanz...ken-bekommt-ernsthafte-probleme/28590532.html
Some eastern european countries already gave 6 months loan vaccation and another 6 months in the next 30 months.
Guess why ?
This loan vaccation won't happen in western countries where people need to bleed out their wealth

Last edited: Sep 3, 2022

 

[Jerry1911]

@369 Out of curiosity, who do you think created Bitcoin? NSA? CIA? Some other intelligence service? A consortium of banks? Is this consortium public or private; can you name it?