We’re currently entering the 14th month of a cryptocurrency bear market. Bear markets are actually my favourite time, in any market. Why? One, because hype is almost non-existent. Anything that rises to the top during a bear market is almost always based on merit. Hype costs money, and nobody spends money on anything unessential during […]
Cryptocurrency
What Can We Learn From The Cryptopia Hack?
Yesterday Cryptopia, New Zealand’s biggest cyrptocurrency exchange, put out a statement saying they had experienced an attack and had experienced “significant losses”. All deposits and withdrawals were frozen. No timeframe was given for how long the freeze would be in place, and no indication was given of how heavy user losses were expected to be. […]
Do you have to pay tax on cryptocurrency gains in NZ?
The IRD recently released a guidance on taxation of cryptocurrency. Here were the key points: There are no special rules for cryptocurrency. It is classed as property and taxed the same way. Taxation depends on intention at time of purchase (did you purchase for disposal or for investment/income?) Bitcoin is most likely to be given […]
Crypto Passive Income: Top Coins For A Long Term Dividend Play
How long is this bear market going to last! Answer: It doesn’t matter. If you’re a believer in this tech, it’s only a matter of time before we hit new highs. Five months? Five years? To be honest I don’t really care. That’s because I’ve always taken a long term approach to my holdings, and […]
What’s Happening In The Cryptocurrency Market
It’s been a quiet few months in cryptocurrency, and I wanted to collect some thoughts here on what I see happening and what we might see happen in the forseeable future. One thing that is helpful in this situation is too look at historicals. The reason is, the markets is one place where history almost […]
Why It’s Not Safe To Keep Money In A NZ Bank (And What You Can Do Instead)
At the height of the financial crisis in 2009, the financial system of Cyprus imploded. Two of the country’s biggest banks were wound up, the country was forced to take on a multi-billion euro emergency loan and bank withdrawals were frozen to avoid a banking exodus by citizens. That probably doesn’t sound too outrageous – […]
Who wins and loses in the next recession?
In 2008, we experienced the global meltdown. The US housing market collapsed, the US banking industry essentially went bankrupt, and the entire world entered a financial winter. Safe to say, lots of people lost money, some their entire fortunes. It was a recession for the ages. The thing about recessions, though, is that they’re filled […]
The smart governments will embrace Bitcoin, because it’s going to win anyway
There has been a lot of talk recently about the regulation of Bitcoin and other cryptocurrencies. New Zealand has held off making any decision yet and the US continues to have a conversation but treads carefully. But some countries, like Japan and the UK, are embracing it. On the other hand, some countries like China have banned […]
Warren Buffett Thinks Cryptocurrency Is Stupid, But I Don’t Care
Last week, the legendary Warren Buffett went on CNBC and claimed with “almost certainty” that all cryptocurrencies were heading for the pooper. And people always listen to Buffett, because his track record speaks for itself. Or does it? I do love Buffett, and he was a big role model for me when I started my investing career […]