Re: Crypto Bubble
Posted: May 29th, 2024, 9:50 am
Agreed on the txn numbers, then you have to attempt to factor in staking, yield farming, liquidity pools etc, it's not easy.
Plus what do you do if you were trading on FTX or any number of the small exchanges that went bust? Would be hard to get the trade history then.
Obviously you should be doing record keeping anyway but that's easier said than done and there will still be a huge knowledge gap in terms of what triggers CGT and what doesn't.
HYP.
Market looks ok right now, bouncing between $67-70k. Mount Gox coins on the move will cause some ripples and a dip no doubt if chunks of them are released and sold.
I'm bullish on this year, ETFs approved, some big firms allocating treasury to BTC etc. Who knows what Black Swan may be around the corner but I think we're still in Spring/Summer
Plus what do you do if you were trading on FTX or any number of the small exchanges that went bust? Would be hard to get the trade history then.
Obviously you should be doing record keeping anyway but that's easier said than done and there will still be a huge knowledge gap in terms of what triggers CGT and what doesn't.
HYP.
Market looks ok right now, bouncing between $67-70k. Mount Gox coins on the move will cause some ripples and a dip no doubt if chunks of them are released and sold.
I'm bullish on this year, ETFs approved, some big firms allocating treasury to BTC etc. Who knows what Black Swan may be around the corner but I think we're still in Spring/Summer