I guess this will become a weekly post. So here is a small recap of what was going on in Crypto traders meetup in Zug yesterday.

First of all I would like to thank all for coming and participating with your views and opinions. I would like to think that we are all learning from each other.

There are 2 things you cannot avoid: death and taxes

so yesterday we did not go to deep into the topic of death but we did look a bit closer at taxes. There were loads of opinions and views around the table but the concensus was that it was hard to get around paying them.

The rules of thumb in Switzerland are

• You can get away with "forgetting" once if the amount isn't that big
• under 100k CHF you do not have to pay but should declare to be safe
• if you hold and do not trade then taxes will be lower
• traders get taxed a lot more (30% I believe)
• just give the tax man an excel sheet with what you bought and its value and then they will check at the end of the year how much you owe them
• like any other country crypto is a real grey zone so better safe then sorry

Whats with ICO's these days?

Here I would say there was also a general consensus. No one was very eager to jump into any new projects. This can also be seen on the general market. It is harder now for ICO's that are not really projects that have a lot going for them to raise funds. The people are getting wiser and are no longer willing to throw money at any random project with a 2 page white paper.

So the "dumb money" has been spent (and lost) and the smart money is waiting for regulation.

There were also no projects at the moment that really drew the attention of the room.

Trading this week

Here we turned again to the experts and we did chart out some actions that some members took this week.
Someone really made a good move in buying ONT and selling it at the top of 0,00035 BTC and this was done using own research but putting into use the lessons learnt in the last weeks, so congratz to that good move

Then we turned back to the big guy... BTC.

on a question round we were all agreeing that we had not hit the low low yet. But to my personal surprise the expectation from the "pro traders" was that it would go up a bit first and then do a proper crash down.

so basically Drop Bounce Crash

After, most of us also went for a nice drink and some good conversation to the Pickwick bar in Zug

As usual we would like to invite anyone that wants to come to our meetup to join the group taking place every Wednesday. It does not matter if you are complete novice or amateur or pro. We are there to help each other get further in this amazing world of Crypto
https://www.meetup.com/CryptoTradersZug/

Lets see what you think?

• are you looking at any ICO's (and why?)
• where will BTC go in your opinion?

as usual, if you want to make a little bit of extra SBD and Steem just sell your spare voting power on smartsteem by clicking the banner above