Best cryptocurrency to get into now.... I need to invest some money

[ed strong]

On 11/18/2021 at 10:51 AM, lkn said:

I am not sure what you mean by that. That my question was basically rhetorical, because nobody would have realized profit exceeding their total cost?

 

Remember though that bitcoin has split a few times, there have been airdrops, and some tokens could have been obtained by mining. So it could have been possible to have realized more profit than total cost. I asked you because you said you were “set up for life now”, hence perhaps you had been converting some of these airdrops or extra tokens from chain splits to real estate or other securities.

 

But it sounds like you mainly have unrealized gains, am I correct?

 

I realize you might not want to share too much detail about your finances, so it’s OK if you give my question a pass.

 

I find it interesting though, that if my assumptions are correct, that you would still be buying. If you are really set up for life, you should think about preserving your wealth rather than grow it. I have a friend in exactly the same situation, triple digit number of bitcoins, yet he still has a mortgage and zero diversification.

Jeez umm not sure i should reply to this but as you have taken so much time on it, i will give you my thoughts. Without crypto i am doing fine, if it went to 0 it wouldnt make any difference to my life at this moment (of course it be a bit depressing but life goes on)

 

Once you get money you realise how useless it really is and has no real connection as to whether you are happy or not, in alot of cases it actually causes you more problems, and im all the about the simple life, be happy with nothing and then anything else is a bonus.

 

My income exceeds my outgoings, so if i build up a little in the bank then i might put it into bitcoin, what else am i supposed to do with it, buy a new fancy car, nah, upgrade my living? nah i have hot water ,heating and a comfy bed. Cant go on holiday to Thailand so i put it somewhere thats more interesting than sitting in the bank.

 

If i needed money i would just cash it out.

 

If you guy really has triple digit bitcoins, its a little mad to not pay of the mortgage, however if he has a good mortgage rate, then his money is better off invested in something that gives a better return than what he already pays for the mortgage payments but however living rent or mortgage free is quite a nice position to be in, less pressure etc, each to their own.

[ed strong]

On 11/16/2021 at 3:29 PM, Neeranam said:

Not much in utility but as a store of value, much better than gold, for example. 

 

ETH, although I don't have any, has more everyday utilty and value.  Some trolls are very selective in their research ???? 

https://www.reuters.com/article/sponsored/ethereum-instrinsic-value

https://techseen.com/ethereum-value-comparison-bitcoin/

https://cointelegraph.com/news/what-gives-ether-token-its-value

 

 

Not much in utility? How about the ability to safely send a small ammount of value any where in the world, to anyone. Thats pretty groundbreaking and not possible to do with any other system (of course theres is still alot of work to do worldwide but look at the US and El Salvador and how the lightning network lets people trade with tiny fees.

 

However, essentially what Bitcoin is about is that it is digital ownership.

 

By owning part of a bitcoin you dont actually own anything, what you have brought is the ability to sign and transfer a digital record that is 100 % truth, of course there are databses and such like but they can be re arranged, hacked or even just human error can lead to issues within these centralized systems that we use now

[Albert Zweistein]

15 hours ago, Neeranam said:

Good move, they advertise on the sides of London buses now. 

Yes my 1 K € multiplied many times in about 9 months so I keep them for a while.

[Neeranam]

On 11/19/2021 at 7:18 PM, ed strong said:

Not much in utility?

Compared to others I meant.

[Neeranam]

On 11/17/2021 at 9:44 PM, Neeranam said:

I've been saying that EGLD is the new BTC, lightnin fast and very low fees. 

 

With this exchange starting in 2 days, I'd highly recomend buying EGLD and MEX

6 days later, EGLD has increased 66% and MEX is up 1000% +.

 

I'm currently farming EGLD/MEX at 2,400% APR

[itsari]

On 11/15/2021 at 3:57 PM, GrandPapillon said:

you already missed the boat ????

 

these advisors on eToro are not "advisors", they are promoters, aka "sales people"

 

Isn't eToro registered in Cyprus with a UK FCA passport (basically worthless)? I would worry very much with that broker once the sh*t hits the fan ????

 

Etoro has been operating since 2006 

Cant say they are more risk than any other financial traders . 

[GrandPapillon]

1 hour ago, itsari said:

Etoro has been operating since 2006 

Cant say they are more risk than any other financial traders . 

you have no protection or recourse if things go bad for that broker, your money will be gone

 

their custodian is probably in Cyprus, that is where your money is ????

[itsari]

1 minute ago, GrandPapillon said:

you have no protection or recourse if things go bad for that broker, your money will be gone

 

their custodian is probably in Cyprus, that is where your money is ????

Cyprus is a member of the EU , why would that concern you?

[GrandPapillon]

2 minutes ago, itsari said:

Cyprus is a member of the EU , why would that concern you?

so is Romania, or Greece. Would you put your money there? ????

 

I wouldn't

[fdsa]

8 minutes ago, GrandPapillon said:

so is Romania, or Greece. Would you put your money there? ????

 

I wouldn't

11) You will not post slurs, degrading or overly negative comments directed towards . . . Thai people or any other group on the basis of race, nationality, religion, gender or sexual orientation.

[itsari]

3 minutes ago, GrandPapillon said:

so is Romania, or Greece. Would you put your money there? ????

 

I wouldn't

I know the EU banks guarantee 100000 euro 

FSCS 85000 euro 

Risk where ever you go

Would i invest money in a Romanian or hellas ? 

That would depend on what company or bank 

E toro has been safe for many years

[GrandPapillon]

5 minutes ago, itsari said:

I know the EU banks guarantee 100000 euro 

FSCS 85000 euro 

Risk where ever you go

Would i invest money in a Romanian or hellas ? 

That would depend on what company or bank 

E toro has been safe for many years

eTorro is not a bank, there is no insurance on your cash deposits

 

the issue is when brokers go down, it becomes a legal mess to claim your assets, even cash.

 

there is risk and then there is crazy "asking for it" risk, putting money in Greece or Cyprus is that kind of crazy risk

 

but again, if all you do is buy and sell cryptos on eTorro, then you are already in crazy "asking for it" risk ????

 

Edited November 23, 2021 by GrandPapillon

[The Hammer2021]

Use a practise trading program.

[itsari]

2 hours ago, GrandPapillon said:

eTorro is not a bank, there is no insurance on your cash deposits

 

the issue is when brokers go down, it becomes a legal mess to claim your assets, even cash.

 

there is risk and then there is crazy "asking for it" risk, putting money in Greece or Cyprus is that kind of crazy risk

 

but again, if all you do is buy and sell cryptos on eTorro, then you are already in crazy "asking for it" risk ????

 

I have used e toro for 12 years and had no issue with them .

I realise they are not a bank and not a insurance company . 

I raised the subject of a  guarantee of 100,000 euros as an example of what they are worth to many 

E toro has as much chance to go down as most you have to choose from . 

Not much prestige in the city of London if you mention that you use e toro . But for the average guy , more than ok

I think you persist in trying to down grade e toro for no real valid reason . 

 Cyprus is used for tax benifits not for running off with investors cash .

 

[GrandPapillon]

11 minutes ago, itsari said:

I have used e toro for 12 years and had no issue with them .

I realise they are not a bank and not a insurance company . 

I raised the subject of a  guarantee of 100,000 euros as an example of what they are worth to many 

E toro has as much chance to go down as most you have to choose from . 

Not much prestige in the city of London if you mention that you use e toro . But for the average guy , more than ok

I think you persist in trying to down grade e toro for no real valid reason . 

 Cyprus is used for tax benifits not for running off with investors cash .

 

I am simply raising valid concern anyone should have before putting money into a brokerage account, and the custodian domicile is one of them. Nothing personal against eTorro.

 

I would do the same for any broker domiciled in some "questionable" country,

[itsari]

Just now, GrandPapillon said:

I am simply raising valid concern anyone should have before putting money into a brokerage account, and the custodian domicile is one of them. Nothing personal against eTorro.

 

I would do the same for any broker domiciled in some "questionable" country,

You have little idea about questionable countries , sorry to be frank , but that is what i have ascertained from our correspondence 

E toro is fine for the small punter that began this post 

[GrandPapillon]

Just now, itsari said:

You have little idea about questionable countries , sorry to be frank , but that is what i have ascertained from our correspondence 

E toro is fine for the small punter that began this post 

I do have a very good idea about questionable countries like Cyprus, that's part of my work actually ????

 

[itsari]

1 minute ago, GrandPapillon said:

I do have a very good idea about questionable countries like Cyprus, that's part of my work actually ????

 

Does Thailand fall in your expertise of questionable countries ? 

Does Lehman Brothers make a impression on your likely questionable countries 

Does the RBS come to any concusions  ?

Does the loan defaults from British banks made  to South American countries raise any issues with you ? 

Nobody is safe from losing money

[GrandPapillon]

18 minutes ago, itsari said:

Nobody is safe from losing money

absolutely, hence why you don't want to increase that risk by doing business with "questionable" countries

Edited November 23, 2021 by GrandPapillon

[fdsa]

18 hours ago, GrandPapillon said:

I do have a very good idea about questionable countries like Cyprus, that's part of my work actually ????

 

Judging by your posts you seem to be experienced in banking and money laundering. Could you give me an advice please?

Sort these countries in the order from "I would certainly incorporate there" to "stay away and don't even think about it" please:

Belize, BVI, Cyprus, Guernsey, Isle of Man, Jersey, Luxembourg, Panama, Seychelles, Singapore, St.Kitts and Nevis

 

Also, is this claim true?

- Netherlands is the best "offshore" jurisdiction as it has a great reputation so every European bank will open an account for a company incorporated in Netherlands, also Netherlands companies are not required to pay any tax and perform any audits if they do not work on Netherlands' territory or with its citizens

 

 

Edited November 24, 2021 by fdsa

[GrandPapillon]

2 hours ago, fdsa said:

Belize, BVI, Cyprus, Guernsey, Isle of Man, Jersey, Luxembourg, Panama, Seychelles, Singapore, St.Kitts and Nevis

 

Also, is this claim true?

- Netherlands is the best "offshore" jurisdiction as it has a great reputation so every European bank will open an account for a company incorporated in Netherlands, also Netherlands companies are not required to pay any tax and perform any audits if they do not work on Netherlands' territory or with its citizens

 

 

Belize, BVI, St.Kitts and Nevis, Panama, Seychelles are currently on the sh*t list, so banking internationally is going to raise a lot of alarms and some corresponding banks might block all your transfers for no reasons at all, without providing a ton of useless paperwork. That's my experience, maybe different for giant players like world famous Hedge Funds ????

 

Guernsey, Isle of Man, Jersey, Luxembourg would be acceptable, but also on some "hot" list, with Brexit, the English islands might be subject to additional "compliance" checks if you are dealing with European banks.

 

Netherlands, never had a case there, but sounds interesting. I have heard things about that location from the RENAULT-NISSAN scandal with Carlos Ghosn using the Netherlands to "clean" his funds. That was allegations, not sure if true.

 

And of course you have the Emirates with Dubai and AD, getting money out of there might be an issue eventually. I know some expats were having difficulties to justify large withdrawals. Maybe ok for big big players ????

 

Eastern Europe with Latvia, and Lithuania are actually one of the best place in Europe. They offer "free business visa" and cheap "incorporation" and banking is ok with multiple currency. A lot of dirty Russian money there but the banks are freezing their accounts, and trying to be more "professional". The language barrier is the biggest issue IMO.

 

hope that helps,

Edited November 24, 2021 by GrandPapillon

[lkn]

43 minutes ago, GrandPapillon said:

Guernsey, Isle of Man, Jersey, Luxembourg would be acceptable, but also on some "hot" list

You forgot Cyprus, which is EU, but definitely on a “hot” list, at least according to my bank, which told me after I received money from there ????

 

No experience with Eastern Europe or money laundering per se, but for banking “comfort” I would definitely take Luxembourg over Cyprus, ignoring the previous banking crisis in Cyprus and the following nationalization of a major bank, plus 1-2 years with currency control, the banking system in my experience seems antiquated, i.e. needing to courier or fax documents, execute trades through your financial advisor, etc. and of course all this makes banking more expensive. Luxembourg OTOH was all digital when I opened an account there in 2006 or so, with currency accounts, stock trading, international transfers (free for SEPA countries up to €50,000), etc.

 

For hiding money, there is also Delaware, but the U.S. banking system is also a bit antiquated, especially when it comes to moving money around, and I think you can only open a U.S. corporate account (as a foreign resident) if you show up in person.

 

All that said, for hiding money, I would look more at corporate structure than which country you setup banking with. Countries are being pressured into joining CRS, and you have all these leaks (you only hear a fraction about this in the media, but the tax authorities in Europe prune these leaked documents to find potential tax evasion).

[GrandPapillon]

banking is getting more and more complicated, it looks like earning money offshore is now illegal ????

[fdsa]

6 hours ago, GrandPapillon said:

Belize, BVI, St.Kitts and Nevis, Panama, Seychelles are currently on the sh*t list, so banking internationally is going to raise a lot of alarms and some corresponding banks might block all your transfers for no reasons at all, without providing a ton of useless paperwork. That's my experience, maybe different for giant players like world famous Hedge Funds ????

 

Guernsey, Isle of Man, Jersey, Luxembourg would be acceptable, but also on some "hot" list, with Brexit, the English islands might be subject to additional "compliance" checks if you are dealing with European banks.

 

Netherlands, never had a case there, but sounds interesting. I have heard things about that location from the RENAULT-NISSAN scandal with Carlos Ghosn using the Netherlands to "clean" his funds. That was allegations, not sure if true.

 

And of course you have the Emirates with Dubai and AD, getting money out of there might be an issue eventually. I know some expats were having difficulties to justify large withdrawals. Maybe ok for big big players ????

 

Eastern Europe with Latvia, and Lithuania are actually one of the best place in Europe. They offer "free business visa" and cheap "incorporation" and banking is ok with multiple currency. A lot of dirty Russian money there but the banks are freezing their accounts, and trying to be more "professional". The language barrier is the biggest issue IMO.

 

hope that helps,

Thank you, this somewhat corresponds with another review I've got earlier:

(from clean to dirty)

1) guernsey, jersey, luxembourg, singapore

2) isle of man

3) seychelles, BVI

4) cyprus, panama, other caribbean

 

Concerning Europe I was told that Latvia is a <deleted>hole and I'd better look at Estonia instead.

 

Do you have a fresh information about the current rules on hiding the beneficiaries? I've read that the beneficiary list is not easily accessible in: Ireland, UAE, Hongkong, Belize; but this information is five years old.

 

[GrandPapillon]

3 hours ago, fdsa said:

Thank you, this somewhat corresponds with another review I've got earlier:

(from clean to dirty)

1) guernsey, jersey, luxembourg, singapore

2) isle of man

3) seychelles, BVI

4) cyprus, panama, other caribbean

 

Concerning Europe I was told that Latvia is a <deleted>hole and I'd better look at Estonia instead.

 

Do you have a fresh information about the current rules on hiding the beneficiaries? I've read that the beneficiary list is not easily accessible in: Ireland, UAE, Hongkong, Belize; but this information is five years old.

 

yeah forgot to include Estonia because I thought Latvia and Estonia was the same, my mistake ????

 

hiding beneficiaries? are you in USD or EUR? this is getting really impossible with USD, they want to know who is hiding behind all those corps now, in line with the new restrictions against IRAN, NK, Crimea, Cuba and the other usual suspects ????

 

actually, I got a small transfer in October blocked by a corresponding bank because they wanted to know all the offshore corp beneficiaries and shareholders through the SWIFT messaging system. Basically, it is the US Treasury, because SWIFT is US "owned", and they are now "tracing" and "identifying" all international wires in USD. This seems to be new. Beneficiaries and Shareholders name will appear somehow in the SWIFT compliance database for future transfer. A bit scary ????

 

 

 

 

[GrandPapillon]

1 hour ago, fdsa said:

 

1) guernsey, jersey, luxembourg, singapore

 

 

Singapore is also on a "hot" list, and bank officials can be fuzzy when you deposit cash there if too small ????

 

HK seems to be a better place, but that will probably change soon. A lot of dirty chinese money in HK

Edited November 24, 2021 by GrandPapillon

[lkn]

48 minutes ago, GrandPapillon said:

actually, I got a small transfer in October blocked by a corresponding bank because they wanted to know all the offshore corp beneficiaries and shareholders through the SWIFT messaging system

How would this affect corporations set up using nominee shareholders?

 

Some offerings I have seen include nominee shareholders, but with some undated contract for transfer of shares at a symbolic price, so that the “true owner” can always reclaim all the shares.

 

But then, I have also seen terms such as “true beneficiary”, which I assume is to mean “who is the true owner”, and with the existence of an unused transfer contract, it would probably be hard to be 100% in the clear by putting in the name of the nominee shareholder(s).

Edited November 24, 2021 by lkn

[lkn]

53 minutes ago, GrandPapillon said:

yeah forgot to include Estonia because I thought Latvia and Estonia was the same, my mistake ????

I just remembered there is the Danske Bank money laundering scandal with their branch in Estonia, and involving (amongst others) Latvia. Given the size of this, regulation and oversight might become tighter in the affected countries.

Edited November 24, 2021 by lkn

[fdsa]

1 hour ago, GrandPapillon said:

hiding beneficiaries? are you in USD or EUR? this is getting really impossible with USD, they want to know who is hiding behind all those corps now, in line with the new restrictions against IRAN, NK, Crimea, Cuba and the other usual suspects ????

I'm in digital tulips that I plan to exchange into somewhat large sum of fiat money, and I don't want my home country's fashist regimé know about my funds. So I'd like to become a shareholder or a beneficiary in some offshore or "good for privacy onshore" company.

If you are saying that EUR would be easier - I will go with EUR then.

 

1 hour ago, GrandPapillon said:

actually, I got a small transfer in October blocked by a corresponding bank because they wanted to know all the offshore corp beneficiaries and shareholders through the SWIFT messaging system. Basically, it is the US Treasury, because SWIFT is US "owned", and they are now "tracing" and "identifying" all international wires in USD. This seems to be new. Beneficiaries and Shareholders name will appear somehow in the SWIFT compliance database for future transfer. A bit scary ????

omg, that's really scary.

[lkn]

3 hours ago, fdsa said:

I'm in digital tulips that I plan to exchange into somewhat large sum of fiat money, and I don't want my home country's fashist regimé know about my funds. So I'd like to become a shareholder or a beneficiary in some offshore or "good for privacy onshore" company.

One option is to create a trust with you as beneficiary, that way, you don’t directly own the money. But you are probably liable for tax on anything you receive from this trust.

 

I know taxes suck, but seriously, consider if it is really worth committing a crime to avoid it, and if you setup some convoluted structure, you will have recurring fees to keep this stuff running, and the more money, the more expensive it tends to be.

 

Furthermore, if your country have high tax rates, I’m guessing the punishment for committing tax fraud is also high.