"Transactions in Bitcoin will be exempt from capital gains tax, and foreigners investing three Bitcoins in the country (about $120,000) will be granted residency."
Oh, that sounds legit, and totally not open to abuse and fraud. Many legitimate businessmen will be very happy.
Re: Dogecoin etc
Posted: Wed Sep 08, 2021 1:38 pm
by Broccers
Bought some eth this morning with paypal app - remarkably easy but 2.5 percent fee. Saying that the 20 quids nearly 20.50 which is break even.
My discussion about this being used more and more for payments of actual stuff will happen.
Re: Dogecoin etc
Posted: Wed Sep 08, 2021 10:30 pm
by Jobbo
Broccers wrote: Wed Sep 08, 2021 1:38 pm
Bought some eth this morning with paypal app - remarkably easy but 2.5 percent fee. Saying that the 20 quids nearly 20.50 which is break even.
My discussion about this being used more and more for payments of actual stuff will happen.
I’m sure your discussion will happen. Not sure what you have invested in will become in any way mainstream; if a country wants to use crypto as currency then it can create its own coin.
Re: Dogecoin etc
Posted: Thu Sep 09, 2021 9:23 am
by Sundayjumper
And if a country wants its own fiat currency it can create it; but El Salvador uses USD. So in both cases it has adopted a pre-existing currency.
(I’m not arguing in favour of Bitcoin, btw, it still seems like a scam to me)
Re: Dogecoin etc
Posted: Wed Sep 15, 2021 12:56 pm
by Gavster
drcarlos wrote: Thu Jun 24, 2021 11:47 am
I was chatting to a friend at the weekend who has invested in something called Hyperfund which looks to trade these low value coins.
He's already got back his original investment having pulled it out via a crypto exchange but what would concern me is that he has introduced others (some investing quite heavily) to the scheme, thereby earning him better rewards.
When I looked, it seemed like nothing more than a ponzi scheme and although he is earning I guess he could be in for a shock when it inevitably implodes.
I told another friend who he'd recruited that he should pull out his original investment ASAP and not recruit anyone into the scheme, anymore advice or am I on the wrong track?
I think it had a warning posted from the FCA in March.
I got offered this last week and went through all the research to see if it's got legs or not. The scheme has two parts, first part is a 3x return on your 'membership' over 600 days. E.g. if you join with £1,000, you will get a return of £3,000 paid (using their token) into your Hyperfund account at a rate of £5 per day. You can 'rebuy' with your returns, which has a compounding effect on the daily payout. However, you cannot withdraw your initial investment, you have to wait the 600 days to get the full amount. At present, they're using the MOF token to payout *shitcoin alert*.
The second part of the sceme is pure pyramid sales, if you invest £1,000 using a friend's referral code, the friend gets 20% commission and there's a trickle down commission too, where the original person gets a small % of the following referrals which the new member makes.
There were sooo many that I had to laugh. It's full of people who have a low knowledge level on crypto, but have heard crypto is the next BIG THING so want to jump on the bandwagon. They kept saying "It's not a Ponzi scheme, just trust your heart" and also warning that the returns would reduce to 2x soon, so best to buy-in now. The returns sound incredible, so people sign up, and for those who get on board early, it probably is amazing. However, it's inevitable that the rug will get pulled, we just need to wait and see whether that's this week, or next year. The 600 day lock-in means that the organisers can time the rugpull perfectly, without worrying about members exiting the scheme.
The way I see it is that I refuse to sell MLM to friends/family and that a 3x return on a crypto investment over 20 months is nothing spectacular, for example, my ADA/ETH/AVAX positions have all gone at least 2x in 6 months and I can sell those whenever I want.
Hyperfund is simply sketch af.
Re: Dogecoin etc
Posted: Wed Sep 15, 2021 1:10 pm
by Gavster
Sundayjumper wrote: Wed Sep 08, 2021 9:22 am
Re: El Salvador...
"Transactions in Bitcoin will be exempt from capital gains tax, and foreigners investing three Bitcoins in the country (about $120,000) will be granted residency."
Oh, that sounds legit, and totally not open to abuse and fraud. Many legitimate businessmen will be very happy.
I spent some time in El Salvdor in 2018/19 and the Bitcoin experiment is laughable, clearly aimed at serving certain powerful people in the country rather than the populace, for example The World Bank estimates that only about 35% of El Salvadoreans use the internet. What's the point in adopting crypto when more basic digital access isn't always commonly available. Also there's no way I'd want to carry a hardware wallet with any value as a gringo in El Salvador, it's the only country I've visited where the hotel owner advised against carrying a mobile phone at all. I've commonly been told to be careful using phones in public in places like Colombia etc, however, this guy said that you should only carry what you are happy lose to in a robbery.
On the other hand, El Salvadoreans love Worcestershire sauce (it's called English Sauce - salsa Inglesa) and you'll find it on most restaurant tables, which is nice.
drcarlos wrote: Thu Jun 24, 2021 11:47 am
I was chatting to a friend at the weekend who has invested in something called Hyperfund which looks to trade these low value coins.
He's already got back his original investment having pulled it out via a crypto exchange but what would concern me is that he has introduced others (some investing quite heavily) to the scheme, thereby earning him better rewards.
When I looked, it seemed like nothing more than a ponzi scheme and although he is earning I guess he could be in for a shock when it inevitably implodes.
I told another friend who he'd recruited that he should pull out his original investment ASAP and not recruit anyone into the scheme, anymore advice or am I on the wrong track?
I think it had a warning posted from the FCA in March.
I got offered this last week and went through all the research to see if it's got legs or not. The scheme has two parts, first part is a 3x return on your 'membership' over 600 days. E.g. if you join with £1,000, you will get a return of £3,000 paid (using their token) into your Hyperfund account at a rate of £5 per day. You can 'rebuy' with your returns, which has a compounding effect on the daily payout. However, you cannot withdraw your initial investment, you have to wait the 600 days to get the full amount. At present, they're using the MOF token to payout *shitcoin alert*.
The second part of the sceme is pure pyramid sales, if you invest £1,000 using a friend's referral code, the friend gets 20% commission and there's a trickle down commission too, where the original person gets a small % of the following referrals which the new member makes.
There were sooo many that I had to laugh. It's full of people who have a low knowledge level on crypto, but have heard crypto is the next BIG THING so want to jump on the bandwagon. They kept saying "It's not a Ponzi scheme, just trust your heart" and also warning that the returns would reduce to 2x soon, so best to buy-in now. The returns sound incredible, so people sign up, and for those who get on board early, it probably is amazing. However, it's inevitable that the rug will get pulled, we just need to wait and see whether that's this week, or next year. The 600 day lock-in means that the organisers can time the rugpull perfectly, without worrying about members exiting the scheme.
The way I see it is that I refuse to sell MLM to friends/family and that a 3x return on a crypto investment over 20 months is nothing spectacular, for example, my ADA/ETH/AVAX positions have all gone at least 2x in 6 months and I can sell those whenever I want.
Hyperfund is simply sketch af.
I'm staying well away. Hoping they don't lose much or end up in clink if they've made a load off referrals and it collapses.
Re: Dogecoin etc
Posted: Wed Sep 15, 2021 3:30 pm
by Simon
Gavster wrote: Wed Sep 15, 2021 1:10 pm
On the other hand, El Salvadoreans love Worcestershire sauce (it's called English Sauce - salsa Inglesa) and you'll find it on most restaurant tables, which is nice.
It's not just El Salvadoreans. My wife asked me to get some 'English Sauce' from the shop last week, and it took a long time to work out WTF she was talking about. She was amazed I hadn't heard it called that before.
Re: Dogecoin etc
Posted: Wed Sep 15, 2021 4:02 pm
by Mito Man
Sounds like the essential juices that have been milked out of the people of the Midlands when you call it English Sauce.
Re: Dogecoin etc
Posted: Wed Sep 15, 2021 9:21 pm
by Broccers
I sold my dainese leathers on eBay a few weeks ago and bought Ether with the proceeds in PayPal. I'm about back to the initial buy. I'm fairly certain the value will be 10 times in 3 years but not that certain to risk a huge amount of Money.
All a gamble innit
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 10:29 am
by Gavster
Anyone else buying this dip?
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 2:06 pm
by Jobbo
Don't call Broccers a dip, Gav
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 3:42 pm
by Sundayjumper
Jobbo wrote: Wed Sep 22, 2021 2:06 pm
Don't call Broccers a dip, Gav
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 4:12 pm
by Gavster
Jobbo wrote: Wed Sep 22, 2021 2:06 pm
Don't call Broccers a dip, Gav
There's just been a big dump, so who else would it be?
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 6:19 pm
by Sundayjumper
Gavster wrote: Wed Sep 22, 2021 4:12 pm
...a big dump, so who else would it be?
So now you're calling him a massive s**t ??
Seems fair tbh.
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 9:53 pm
by Broccers
I watched my ether go down by the second yesterday evening. Up again today tho.
Always love this guy's take on it. There's some graphs in there of previous crashes and what happened after.
Also blockfi or similar lending against your money which avoids capital gains is useful if you're a heap of Money
Re: Dogecoin etc
Posted: Wed Sep 22, 2021 9:54 pm
by Broccers
Gavster wrote: Wed Sep 22, 2021 10:29 am
Anyone else buying this dip?
El Salvador dude did
Re: Dogecoin etc
Posted: Fri Sep 24, 2021 12:20 pm
by V8Granite
ULTI Arena and Moon Nation Game, taps nose, you heard it here folks.
My Crypto is being pretty stale but my normal shares are going great guns at the minute.
Dave!
Re: Dogecoin etc
Posted: Mon Sep 27, 2021 9:34 am
by Broccers
V8Granite wrote: Fri Sep 24, 2021 12:20 pm
ULTI Arena and Moon Nation Game, taps nose, you heard it here folks.
My Crypto is being pretty stale but my normal shares are going great guns at the minute.
that I had to laugh. It's full of people who have a low knowledge level on crypto, but have heard crypto is the next BIG THING so want to jump on the bandwagon. They kept saying "It's not a Ponzi scheme, just trust your heart" and also warning that the returns would reduce to 2x soon, so best to buy-in now. The returns sound incredible, so people sign up, and for those who get on board early, it probably is amazing. However, it's inevitable that the rug will get pulled, we just need to wait and see whether that's this week, or next year. The 600 day lock-in means that the organisers can time the rugpull perfectly, without worrying about members exiting the scheme.
