Contrary to popular opinion, having most of the market cap in the hands of richest people is better than having it in the hands of poor people/speculators. Yes, some of them could just dump all their assets just for fun if they wanted.... but most of the time you don't get rich by doing dumb stuff like that.
There is a point in this, BTC whales were strong enough to h0dl BTC over years, so they are strong enough to h0dl Byteball over years
When let say u joined when btc was 3cents and u bought truck load, today spend 100btc for gbyte is nothing. dumping this to rebuy back after shock is again a way to make more btc. most of them moved away from holding to pumping and dumping.
You can all see this every day on poloniex with shitcoins.
I have to disagree. The richest ones don't go all in and out for tax reasons. Maybe they do have some "play-money" stash to do trading, but that's a way different thing.
Taxation only counts when you cash out your profits. if you juggle between alts and btc u have no tax to pay. In uk capital gain tax applies to btc only when u sell btc for fiat. Now, if you transact in btc only there is no tax to pay.
What country are you in? In most first world countries, swapping a coin to another is a taxable event.
Oh, I supposse you are in UK, well, I am not really sure, but there is a possibility you are wrong. If you are swapping millions in coins you better consult several taxation consultants to make sure you are doing it right. The fines are WAY bigger than any profit you could make.
If you are not swapping millions, most probably you are below the radar and you will never know.
Also, Byteball giveaway rounds are PURE capital gains. You get whatever value those Byteballs have in exchange of NOTHING. You then exchange them for BTC that has a "common established" price and you have not had any capital gain? Don't think so.
