"you haven't been tempted along the way to take profits when you think a run may be over: or topped up when you think the opposite?"
Part of your answer was :
"I only sold once in 2016 that was because of three things I needed money badly I had doubled my amount I didnt really understand what it was about.
The tax man loved me that year. My policy now is to buy as and when I have spare fiat . It is unlikely that I will ever be short of fiat again but it is possible . I am of the opinion that the idea of Hodling for ever is stupid . Everyone invests in anything to increase their security and to increase their wealth", the ".If I dont need the coins before I die I hae made arraingements with my Next of Kin for their equal division. Through a multisig wallet"
So, you have posted on cryptocurrencies significantly on these forums and only ever took a 100% profit once 5 years ago and copped a tax bill on the profits you did take. So in effect you have lost the opportunity cost to convert perceived crypto profits for 5 years or so where interest or capital gains, income streams or profits may have been available in comparative less risky markets? Generally in investment terms you only ever realise a profit when you liquidate the investment. What guarantee is there in 5, 10, 20 years time those crypto investments will ever come to fruition? An on-paper perceived profit is not profit until it is physically converted. I make consistent gains regularly on the share market buying strategically whilst low in crashes or IPO's or new sexy stocks like Hydrogen, Lithium etc and actually take profits, manage capital gains tax within the rules and reinvest when I see a sound opportunity. How do you increase wealth if you never realise the profits? Isn't that just locking up funds with no actual income stream generated for 5 years? I am confused by that strategy. Do all crypto investors pay tax on crypto profits? Anyone out there got a strategy to minimise tax on crypto sales?
