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RE: Calm Down! A Few Thoughts about Investing and the Ups and Downs of the Cryptocurrency Markets
There are several points in your comment that have gotten me thinking.
In NZ we have no capital gains tax, and anyway we are not putting any crypto profits into banks - even gold bullion can be purchased here using a range of cryptos.
When I was doing share trading I was thinking in terms of a year or two, but cryptos are much faster - the longest I've ever held a crypto is 7 months.
For some reason a lot of people are really attached to Bitcoin - I use it sometimes when I have to, but would rather use Dash or Litecoin for example, for a convenient cash coin.
And I don't leave much $ in Bitcoin because I now expect it to crash (fully crash down to about $5000) any day now - it's being played.
You've probably been following a lot longer than most. Most of those rushing to BTC now just heard about it ;-) I guarantee you go up and ask someone on the street what Dash is, and they'll tell you it's a condiment (again, in America lol) or look at you like you have 10 heads.
If you then ask them - ok, you've heard of Bitcoin, right? Then they will probably start reciting headlines to you and assume DASH is the same thing lol. I'm going to maintain that BTC will always retain value as digital memorabilia. And since I picked one up when it was $400...I really have nothing to lose lol.
(NZ sounds like paradise...)
Yep, and the view is OK too :)