Member Info for fleccy

"Why is there a car stuck bang in front of their face? This is a clown show."

Doesn't look like it's live, it's just restarted.

Cathie Wood and Elon Musk are broadcasting live at the moment too. Busy day.

https://www.youtube.com/watch?v=DsAayBx9dHo

According to the text on the Live Feed, it says they're giving away 15,000 BTC. 15,000 BTC at over $35,000 a coin is, over $525,000,000 in Bitcoin. I'm guessing giving away 1/2 Billion Dollars must have an affect on the price, and the give away involves sending Bitcoin to Microstrategy, and getting the freebies back in return. Maybe I'm cynical, or just suspicious, but I can't help but think there is a benefit for Microstrategy, will it somehow raise the bitcoin price? I wonder?

"You could buy in now in the hope it reaches $70k again but then it could easily fall to $650."

Indeed, have you checked out the live Michael Sayloryoutube feed?

https://www.youtube.com/watch?v=LdZKzJzA1pk

Pump it up (Live)

https://www.youtube.com/watch?v=LdZKzJzA1pk

"Meanwhile the Grooms next door helping the Bridesmaid out of her dress."

I'm not implying Bitcoin investors were Groomed, or am I? lol

Continued:

If there really is value in Crypto, why is it up and down like a Bride's Nightie? Maybe the Nightie's about to come off, leaving many investors naked and out in the cold; Meanwhile the Grooms next door helping the Bridesmaid out of her dress.

I'm not sure if others on here share my fascination toward the gyrations in the price of Bitcoin and Crypto in general. I'm not invested in Bitcoin, as I'm in the no intrinsic value camp.
Here's a 5 year chart of Bitcoin in US Dollars:

https://www.google.com/finance/quote/BTC-USD?window=5Y

Around the 9th October 2020 Bitcoin was priced around $11,300, soon after that it went ballistic, peaking at over $61,000 on the 12 March 2021; It hovered under $61,000 until the 7th May 2021, and then fell fast hitting a low under $32,000 in mid July 2021; It then shot up again, hitting above $64,000 on the 12th November 2021, and is now on the down escalator priced at $35,560.
Digging out articles around some key dates:
Oct 2020
https://www.forbes.com/sites/billybambrough/2020/10/14/bitcoin-has-hit-an-inflection-point--predicts-major-twilio-pinterest-linkedin-and-twitch-investor-bessemer-ventures/

"Now, Bessemer Ventures, which counts cloud communications platform Twilio TWLO -4.7%, image board Pinterest, professional network LinkedIn, and streaming site Twitch among its previous investments, has said it "strongly" believes bitcoin will become "a globally accepted asset class"—and predicted institutional demand for bitcoin "has hit an inflection point.""

March 2021
https://www.cnbc.com/2021/03/13/bitcoin-surpasses-60000-in-record-high-as-rally-accelerates-.html

"The digital currency is up 963% over the last 12 months, according to Coinbase. Its value surpassed $1 trillion last week for the second time this year."

May 2021
https://www.cnbc.com/2021/05/04/jpmorgan-ceo-jamie-dimon-im-not-a-bitcoin-supporter.html

“I’m not a bitcoin supporter,” Dimon said during The Wall Street Journal CEO Council summit on Tuesday. “I don’t care about bitcoin. I have no interest in it.”

July 2021
https://www.forbes.com/sites/billybambrough/2021/07/17/crypto-price-prediction-bitcoin-to-overtake-the-dollar-by-2050-and-soar-to-66000-by-the-end-of-2021/
"Bitcoin has struggled over the last few months, falling by more than half from its peak of around $65,000 set in April."
"Crypto Price Prediction: Bitcoin ‘To Overtake’ The Dollar By 2050 And Soar To $66,000 By The End Of 2021"

November 2021
https://www.theguardian.com/technology/2021/nov/09/bitcoin-price-record-high-cryptocurrencies-ethereum

"The bitcoin price has reached a new record high, breaking through $68,000 (£50,000), and analysts predict that the world’s best-known cryptocurrency will rise further in the coming weeks."

Now
https://www.forbes.com/sites/billybambrough/2022/01/22/like-the-1929-crash-new-crypto-winter-warning-as-sell-off-wipes-15-trillion-from-the-combined-bitcoin-ethereum-solana-bnb-cardano-and-xrp-price/

"Like ‘The 1929 Crash’—New Crypto Winter Warning As Sell-Off Wipes $1.5 Trillion From The Combined Bitcoin, Ethereum, Solana, BNB, Cardano And XRP Price"

If there really is value in Crypto, why is it up and down like a Bride's Nightie? Maybe the Nightie's ab

Just adding a disclaimer. I'm not an accountant, so before you take any actions, either DYOR, or contact a professional, and confirm what I've stated in my posts. I think I'm right in what I've said, but check anyway.

"Yes, you can make a tax free Capital gain of £12,300 in any tax year."

I should have said current tax year, not any tax year.

"To be clear, the taxable gain is the bit of the gain *above* the £12,300 (for the current tax year) allowance.
Mike."

Yes, you can make a tax free Capital gain of £12,300 in any tax year. Anything over £12,300 is a taxable gain, and the amount of tax you pay will depend on whether you're a basic, or higher rate taxpayer.

"fleccy,
"£12,300 to get the taxable gain"
Surely you mean "£12,300 to get the tax-free gain"?"

Once you work out your total gain, you subtract £12,300, and if it comes up with a poitive figure,that's the taxable gain. I think I'm right in what I'm saying, it makes sense to me.

"The suggestion of transferring sufficient to spouse so she can sell up to the tax limit is a very popular one."

You'll have to check, but my understanding is that shares transferred to your spouse carry over the average cost per share, so the same calculation applies. You can actually sell more than £12,300 worth of shares, as long as the gain doesn't exceed £12,300, any gain over £12,300 is taxable.

Section 104 hoding is basically:

"Selling shares in the same company
There’s a different way of working out your cost if you’ve sold the same type of shares in a company that you bought at different times.

You’ll usually need to work out the average cost of your shares and deduct this from what you got for them to work out your gain.

Example

You buy 100 shares for 80p each. The total cost is £80.

You later buy 300 shares for £1.20 each. The total cost is £360.

In total, you have 400 shares costing £440 - the average cost of each share is £1.10.

If you sell 150 shares, the cost of the shares for your tax calculations is £165 (£1.10 multiplied by 150). Deduct this from what you sold the shares for to work out your gain.

If you bought new shares of the same type in the same company within 30 days of selling your old ones, there are special rules for working out the cost to use in your tax calculations."

https://www.gov.uk/tax-sell-shares/same-company

"With my own share dealings which are outside my ISA, I follow the HMRC method (currently called the "Section 104" holdings) with my spreadsheets, simply because I only want to run one system, not 2 different systems in parallel."

Indeed, shares bought in the same company, over a period of time, can be sold using (Sold price x Quantity sold) - (average holding cost per share x Quantity sold) - £12,300 to get the taxable gain.

"why Vodafone ?"

I can't speak for Dan, but I'm invested in Vodafone & BT because they pay Dividends, and they're going to be big earners in the future. 5G IOT is going to be massive, with anything and everything connected to the cloud, like driverless cars, metro scale traffic control systems, security and monitoring devices, and just about anything else you can think of. The IOT market is forecast to be worth a Trillion dollars by 2030, and latency will be really important, so the mobile providers will have a natural advantage over the pure play cloud providers, with Edge processing needing to be as close to the IOT devices as possible.
The UK ISP's have apparently just anounced a CPI+3.9% price increase, and people need the internet as much as they need electricity today, so the telecom providers have sustainable pricing power in an inflationary enironment. I invested in BT because of their dominant position in the UK market, and Vodafone because of their international operations; I view them both as bullet proof investments, that'l give me a nice return over the medium to long term.

"Be interesting to have some idea about the scale of the liability here. As has been said this would apply right across the banking sector and unless there is a legally enforceable ruling it may be small beer."

I read the details in the articles, and it looks like an exceptional case. I would think there'd be very few similar cases, therefore insignificant in the scheme of things, or that's my reading of it.

"Fitch Affirms Lloyds Banking Group at 'A'; Outlook Stable"

https://www.fitchratings.com/research/banks/fitch-affirms-lloyds-banking-group-at-a-outlook-stable-19-01-2022

"If there's anything less likely than Russia invading Ukraine its the Americans going in there to try and take it back."

Russia won't invade Ukraine, so the U.S. doesn't need to think about it anyway imo. It's just a non story, and game play in the Geopolitical arena. The US going into Iraq, or invading Afganistan, doesn't come close to the repercussions of a Ukraine invasion by Russia. Going off some of the rhetoric, it's more likely that China would invade Taiwan, and I don't see how that would happen either.
If China, or Russia, want to change the world and initiate a cold war that'll last decades, then they might move, but is that what they want?

"This fear we feel, now, about Ukraine, is phase 1 in the West's (probably unstoppable) decline. The US, NATO, and democracy are losing control of the world. Let's all hope Russia steps back from the brink..."

Skier, I'm not sure why you're posting about this on a Lloyds Forum, or what your point is. Russia could invade the Ukraine, and the US as the foremost military power in the World, will probably decide to stop short of a full on conventional war to retake the country; But there's no chance of Russia going into Ukraine, imo.
History suggests that invasions are unsustainable, over time, unless the invaded population are sympathetic to the invading force, which is why Russia and the US were unsuccessful in Afganistan.
If Russia did invade the Ukraine, then the World would be back in to a 1960/70's Cold War type era, and Russia wouldn't want that. It would initially be difficult for Europe, due to Energy dependency, but it would likely drive the EU to become a full on military union, possibly morphing into a military as powerful as the US, but literally on Russia's doorstep. Geopolitically it would drive the UK to rejoin the new European state emerging into a military federal Union, and replacing the EU.
What I've just stated, may be supposition, but it's highly likely that would happen, as it's what France are pushing for now. Russia wouldn't want another super power emerging right next door, as that would eventually lead to the Eastern block being destabilised over time. Russia invading Ukraine, no chance, unless they want to create a rod for their own back.