On YouTube since 2016 where he built his engaged following and community, That Martini Guy is a popular YouTuber and experienced trader with a passion for altcoins. After quitting his “traditional” job in 2019, The Martini Guy has since then been fully focused on blockchain technology related initiatives, becoming in a short time a very appreciated influencer and full-time crypto trader. Meet That Martini Guy and shoot over your questions to him!
Exciting session with That Martini Guy who dived into a wide range of interesting topics regarding the crypto market. He answered to very interesting questions about Bitcoin (BTC) and its current bull-run and discussed about DEX, CEX and different blockchain platforms. He also shared ideas on how to keep tax efficiency taking into consideration upcoming changes in legislation. A big thanks to him to share his experience and knowledge with our Community!
HERE AN OUTLOOK OF THE MOS EXCITING CONVERSATIONS FROM THE AMA:
➡️ Martin Plumley: "You mentioned in your videos that you are 100% all in on crypto yet In order to live day to day you need to to be able to switch between crypto currencies and Fiat. What is the most cost effective and efficient way of doing this? For example paying mortgage or rent?"
➖ That Martini Guy: "I cash out via the SwissBorg application every month my wage and i live off of that, i don't really have any savings or anything, I believe in the future of bitcoin so i should back that belief then i also use crypto cards like Coinbase and crypto comapp".
➡️ Dan Scott: "I was wondering what are you going to do when the UK derivatives ban comes in and what will happen to the accounts that people already have? Will they be able to use them with a vpn? Could you also briefly discuss what options are available? I remember you saying something before along the lines of registering a business elsewhere or obtaining some sort of trading licence".
➖ That Martini Guy: "Yes all accounts I expect will still be available long after the ban, I'm moving my business out of the UK so i don't end up in trouble. I have consulted 3 lawyers so far, each tells me how I can avoid breaking the laws, basically the trade is only illegal at the point of sale, it is not illegal to access the platforms so the platforms are not required to geoblock. for the individual to trade on these exchanges they will not be breaking ANY laws, the exchange is breaking the law by serving you and they are based out of UK jurisdiction so really, nothing will change".
➡️ Crypto Culliiee: "With the Capital gains tax, If I was to make a taxable profit of over £12,300 in a year, if first I converted my crypto holdings into a stable coin, could I then sell that stable coin over two years to go below the tax threshold?"
➖ That Martini Guy: "Yes, this would be fine, the UK tax law is unclear on this and if you class $USDC as an investment into crypto then your investment is still active and thus not taxable until cashed to GBP".
➡️ cryptou: "Yeah the -70 to -85% post bull market seems real, but I'm not sure it will happen right after 100K. Hard to know the peak. I believe it could go higher and settle between 20k and 40k afterwards."
➖ That Martini Guy: "Yes that seems about right Bitcoin (BTC) seems to go crazy then depressed in long periods".
➡️ Anthony Orledge: "How best to take profits and be tax efficient? how best to make use of the CGT allowance each year? and how best to use 'Bed and spousing' etc to maximise gains?"
➖ That Martini Guy: "I had previously considered doing this but everyone thinks they are a tax expert and argues every point in make. i find it most efficient to do a simple transaction and once a year add up PNL and pay tax on that, but i have an accountant that figures that out for me fortunately. my advice is if you are dealing with less than 10k you have little to worry about if you are dealing with a lot of money get a tax specialist or leave the UK, its bloody expensive!""
➡️ Grandads Emporium: ""There does seem to be a lot of good feeling and hype and the moment in regard to the upcoming bull run and the prices being thrown around for Bitcoin (BTC) are enormous. What are you thoughts that actually the market is now controlled by big financial institutions and they will never allow the market to increase to huge proportions until they are done accumulating and buying up all the retail owned BTC they can manage? This would keep bitcoin suppressed for a number of years".
➖ That Martini Guy: "Bitcoin (BTC) comes to a point where it cannot be suppressed, these are the days we pump 10-20-30% bitcoin eventually will throw a fat green candle into this bull market and things will get interesting, companies want to see the huge returns and greyscale buys bitcoin from miners not from market so i think bitcoin price suppression is not a huge problem for bitcoin because of the huge market buying interest levels".
➡️ Andrew Turner: "How do you research and find new projects especially at the very early stages? If you do find a good project what is the process of joining a presale?"
➖ That Martini Guy: "I generally get told about them by friends in the crypto space so i find out very early on but that is because people i guess know me and they get excited and want to tell me and then I get excited and invest that is basically the process, projects these days are so over subscribed it is hard for the everyman to get into the seed rounds without joining a pool and pools are risky because many exit scammed in 2017".
➡️ TH: "Would really like your opinion about MultiVAC (MTV) technology wise they are on the same LVLLVL as Elrond (EGLD)but they only have a 1.4m marketcap, which is insane. Soon they will announce their Mainnet launch date which will be in Q4 of this year. To me this looks like a 100x gem. What do you think or am i missing something?""
➖That Martini Guy: "I think even if the tech is good the project needs to raise money to get recognised and if they cant obtain an audience then they ultimately will fail, Elrond (EGLD)chance of success is higher hence their market cap is larger, Ethereum (ETH) is not the best platform but is the most valuable for example".
➡️ Clare Saunders: "What does SwissBorg have that Nash doesn't? SwissBorg's token isn't a security".
➖ That Martini Guy: "Nash is a DEX whereas SwissBorg is a CEX that offers DEFI staking, because of this we end up with NASH offering rewards for staking the security but CHSB you do not need to stake the coin to get the rewards, you stake the coin to increase rewards to 20% PA they achieve this by aggregating the DEX staking process, their tech is insane, I've seen them grow from been to behemoth and just like Nash i believe they will ultimately be successful in their goal but i think in terms of world adoption, their model is sleeker, they have 2 mobile apps which is very nice and i have not yet encountered a bug, also their referral program is gamified which really helps bringing onboard new users".
Ask me Anything, Nov 12th @ 3:00PM (UTC)