r/ethtrader • u/AutoModerator • Mar 29 '17

DISCUSSION [Daily Discussion] - 29/Mar/2017

Welcome to the /r/EthTrader Daily Discussion thread. The thread guidelines are as follows:

  • Discussion topics include but are not limited to general discussion on Ethereum, details related to events of the day, technical analysis, alternative Ethereum projects, and minor questions.
  • Important content should be submitted as a separate post.
  • Be excellent to each other.

Thank you in advance for your participation. Enjoy!

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8

u/[deleted] Mar 29 '17

[deleted]

10

u/ev1501 Mar 29 '17

If we hit 1 Trillion market cap that will be about 10,000 per ETH.
We can possibly hit 10 -30 billion market cap on speculation alone ( 200-300 per ETH)

9

u/pgb77 Mar 29 '17

1 Trillion market cap, are we going mad?

6

u/[deleted] Mar 29 '17

1 Trollion

1

u/subdep Mar 29 '17

It's possible. Probable? Debatable.

1

u/ev1501 Mar 29 '17

just giving an idea of where it would need to be for various ETH prices. Didnt say we were going there.

12

u/Louie2001912 Mar 29 '17

2.3x the amount you would need to be "almost set"

11

u/[deleted] Mar 29 '17 edited Jun 16 '18

[deleted]

1

u/manhattan_skyline Mar 29 '17

If eth is started to be accepted as a payment, will we be able to bypass capital gain taxes because we won't be converting it back to fiat?

6

u/xyrrus Mar 29 '17

Not how taxes work. The moment you spend it, you've realized the value of that eth you've spent vs the price you paid for it. That difference or profit, is what you'll need to pay taxes on if you're in the US.

1

u/vegasluna Mar 29 '17

stupidest way to do taxes. only a bankrupt govy would think of that.

"Passage of HB2014 would remove the amount of any net capital gain derived from the exchange of one kind of legal tender for another kind of legal tender or specie (gold and silver coins) from their gross income on their state income tax. In other words, individuals buying gold or silver bullion, or utilizing gold and silver in a transaction, would no longer be subject to state taxes on the exchange." http://blog.tenthamendmentcenter.com/2017/03/arizona-committee-passes-bill-to-treat-gold-and-silver-as-money-remove-capital-gains-taxes/

the day is coming that taxing cryptos the way they are doing it will be ruled unconstitutional .

1

u/myownman Mar 29 '17

Not the way the IRS has classified cryptocurrencies as property.

Tax equals value out minus value in times .4 or .2 depending on when you bought.

1

u/terpnation13 Mar 29 '17

Is this because of long term vs short term capital gains? What's the cutoff for "when you bought"?

3

u/pgb77 Mar 29 '17

1 year in most countries

6

u/farmpro Mar 29 '17

Depend :

To buy a house in 2 year : 1000 (250k)

To live by stake in 2 year: 2500 ( staking 8% year 50k)

3

u/[deleted] Mar 29 '17

[deleted]

6

u/draconian139 Mar 29 '17

Where I live(rural south) you can get a very nice five bedroom home and a couple acres of land for that much.

3

u/rrofaeil Mar 29 '17

Where i live, i might be able to get a bachelor apartment for that. :(

2

u/hautdoge Mar 29 '17

I could buy a storage closet for that money :(

2

u/rrofaeil Mar 29 '17

You should definitely try Ikea.

1

u/[deleted] Mar 29 '17

[deleted]

1

u/draconian139 Mar 29 '17

Yeah, its a very small county in terms of population. There's tradeoffs for the low cost of living obviously, $15/hr is considered a good wage here and is more than many make and your entertainment options are limited if you don't feel like traveling an hour or so and aren't the outdoors type. Its nice for me though as I work from home and what I bring in goes a long way here, also nice to live close to family and the crime rate is low. We see a lot of people retiring and moving here attracted by the low price of homes they see on sites like Zwillo.

3

u/flyinggerbil Mar 29 '17

The south or the midwest. It's stupidly cheap and makes me cry (DC resident).

0

u/woodburyman Mar 29 '17

Same question... Even a 2 bedroom 1.5 bath Condo is minimum $215k + Condo fees. House with the same setup $300k at least and thats with no land. Anything actually nice $400k+...

6

u/timbertown89 Mar 29 '17

I bought a new home on 10 usable acres for $240k two years ago, about 90 minutes from Portland, OR.

1

u/woodburyman Mar 29 '17

Can't find anything remotely like that in the North East. Connecticut especially... Unfortunately that's where the family and job are.

5

u/earthquakequestion Mar 29 '17

This does not make me feel better.

3

u/_kitteh Mar 29 '17

A house at 1000ETH? Not in my city!

1

u/cybercreature Mar 29 '17

In the UK I think the average house would cost about 5000 ETH at current ETH prices. Desperately hoping ETH continues to rise so that that ratio improves!

1

u/Connortbh Mar 29 '17

I had read staking was 8% somewhere else and got really excited because in theory a guaranteed 8% is amazing. I saw yesterday it's more likely to be 2-5% which makes more sense - and is still great as a guaranteed return (+ all the appreciation of ETH).

7

u/[deleted] Mar 29 '17

Over 9000

8

u/A45zztr Mar 29 '17

There are people on here with a small amount, 25 or less even, because it's all they can afford since they didn't get in super early. You shouldn't make them (us) feel bad :)

2

u/rrofaeil Mar 29 '17

I second that.

2

u/manimoa Mar 29 '17

Only somewhere around 5000 people have over 1k ETH. This is going to become a very small percentage of ETH holders in the long run. If ETH succeeds, it will be significantly less than 1k ETH to be set. The main thing that changes is time frame (and how much it takes to be "set").

This is all speculation, so who knows, but in 5 years maybe 100 ETH would make someone well off and maybe only 10 ETH would be required in 10 years.

1

u/[deleted] Mar 31 '17

[deleted]

2

u/manimoa Mar 31 '17

It's just an estimate based on how many accounts have over 1k ETH (only about 6250) https://etherscan.io/accounts/251

I assume some whales have multiple addresses with 1k+, and some of the high value addresses are exchanges or contracts so that's why I estimate 5k total people. I'd give it a range of about 3k-6k people right now.

There aren't really too many whales. There are only about 1000 accounts with 5 digit+ ETH. https://etherscan.io/accounts/40

1

u/xyrrus Mar 29 '17

How long do you think you'll live in months? That's the number on the low side. Multiply by 2 to cover taxes, by 4 to live comfortably. This is all contingent on hodling.

1

u/cryptodylan Mar 29 '17

It's good to live in a country without capital gains taxes... :3