Printing money right now. Wow $7000. $10,000 maybe by the end of the year?? We must be do for some kind of correction unless this is wall street money coming in after the CME news.
Printable View
Printing money right now. Wow $7000. $10,000 maybe by the end of the year?? We must be do for some kind of correction unless this is wall street money coming in after the CME news.
Tough to say. Seems like a perfect storm between fork/cme = bulls are really going all out. I was setting up for a dump around $7200 resistance level and to BTFD back down at $5500. The correction will come, but it's tough to say when now.
I bought some GBTC a couple weeks back with some gambling money. This roller coaster is fun.
$7400 early this AM....aka when Asia got on the ball. I slept through that unfortunately. Still dumped at $7200 just now. Hopefully not have to wait too long for a chance to buy back in. I gotta get me a job so I can just go back to pure hodler status.
Well this has been hell of a week, as usual. Now the fork is dead. 8k within 12 hours? Sooner?
I hope so, I need to go to sleep tonight. Wild ride today. Alts blasted by my seemingly un-possible sell orders, left money on the table there.
Bitcoin Investment Trust? Thats cool.Quote:
Originally Posted by DJSapp
Fuk btc it's a fkn scam
I posted a graph that would crush any true believer.
Can't find it but found this https://uploads.tapatalk-cdn.com/201...fe4b620363.pnghttps://uploads.tapatalk-cdn.com/201...66dd62c786.png
Solid work, you deserve a helping star for the day.Quote:
Originally Posted by digitaldeath
BTC has made some big moves on Saturday in recent months. Will be interesting to see if the range expands tomorrow.
I think that Bitcoin should and might be made illegal by most major economies.
The uses I see for Bitcoin are:
1) Primary as in its first use is in printing money for those at the top of the pyramid - those who were in early really got to "mine" basically were allowed print money. Sure the scheme makes sense for those at the top.
2) Speculation - yeah if you bought at $500 you made great money. But that doesn't mean it creates real economic value. Sure Tulip's were a great investment in 1636 but that doesn't mean that the absurd increases in value were either real or representative of the real economic value. Sure other assets are subject to speculation but unlike say gold, bitcoin has $0 intrinsic economic value other than its ability to transfer other currencies. Gold can crash, but damn it actually has some physical uses. Try to make a nice ring or electronics part or dental work out of bitcoins. What happens if it loses its other uses?
3) Tax Evasion - You can evade taxes by getting paid/paying in Bitcoin. And thats great for you if you do it, but where is the economic value? What does that add to society?
4) Criminal Enterprise - in connection with the Tax Evasion criminals can move their funds around without paying taxes or being subject to the scrutiny of law enforcement officials. So I'm supposed to think its some great thing that criminal hackers can extort victims of their malware in bitcoin or that prostitution rings or drug lords or mob types can move their gains to the godfathers accounts without government knowledge?
Fuck that. I think that there isn't a solid case for its societal benefit. Blockchain technology - sure - I could see blockchain being implemented in the context of a regulated currency that eliminates the worst of the tax and criminal uses and being a benefit. But because in its current form it is more about uses that aren't beneficial to society or add real value to economy I think that its use in current form should be banned by law.
And if its made illegal in say in US law, what happens to its value then?
do you work for the IRS?Quote:
Originally Posted by Kinnikinnick
Oh you forgot black market drug trade as a use for BTC.
Not IRS, but from a societal view point why do we benefit as a whole by enabling tax avoidance? If you study the economic woes of Greece tax avoidance is a big component. Doctors, Lawyers, basically everybody tries to get paid in cash so they can avoid reporting income = big revenue shortfalls = they can't pay their debt.Quote:
Originally Posted by Skidog
And I included drug lords in the Criminal Enterprise realm.
Great points.Quote:
Originally Posted by Kinnikinnick
Just started researching a company called Riot, that listed on nasdaq recently, (like a month or 2 ago). They are invested in bitcoin mining, so their stock price moves with bitcoin, so that is one play you could do, but they also have other companies that aim to utilize the blockchain as a service. Check out TESSpay, a transaction escrow settlement service company that basically executes smart contracts.
I love the technology behind this stuff, but trying to figure out where to make my play.
Here I sit on my hands while Nvidia keeps jammin!
Looks like I’m not the only one thinking that it could be banned
https://www.google.com/amp/s/api.coi...ments-will-ban
Sent from my iPhone using TGR Forums
FYI this type tax evasion happens all over America. In fact I make it a point to ask certain places if there is a cash price difference. The answer is usually that you'll pay no sales tax. Ever been to Jersey? Diners are huge tax cheats. Little steak house in Morris plains. Super popular (3 total locations I think one in Hoboken). Busy as hell always. They accept ZERO credit cards. Cash in hand. Think they declare it all? Ha.Quote:
Originally Posted by Kinnikinnick
Sent from my XT1650 using TGR Forums mobile app
Sure enough. BTC dropped $600 just after midnight Saturday GMT. $6200 low. Bounce a bit.
http://www.parkrecord.com/news/bitco...k-city-market/
$3.5mil home transaction in Park city completed with bitcoin.
1. Why couldn’t the buyer just convert to dollars and pay dollars? Seems like a stunt.Quote:
Originally Posted by basinbeater
Or,
2. Bitcoin gains are taxable. I have to wonder if and how that was reconciled and perhaps that had something to do with why the transaction was a post sale conversion to dollars.
There is nothing stopping you from claiming a gain or loss.Quote:
Originally Posted by Kinnikinnick
"On March 25, 2014, the IRS issued Notice 2014-21, which, for the first time, set forth the IRS position on the taxation of virtual currencies, such as bitcoin. According to the IRS Notice, "Virtual currency is treated as property for U.S. federal tax purposes." "
https://www.forbes.com/sites/greatsp.../#7d2c6b451a95
Im a bit underwater right now need to hit 7100 to breath. And I can't lend to margin traders anymore because US customers are banned form trading or funding on Bitfinex. Im bummed because my last loan was at 6.5%. I need to find another exchange with a lending option..... Any ideas?
This sounds like addictive behavior. Dangerous.Quote:
Originally Posted by ICantLogIn
You missed capital flight from China and Russia, as well as a safe haven for grey market revenue such as recerational mj.Quote:
Originally Posted by Kinnikinnick
Sent from my Pixel XL using TGR Forums mobile app
Thats why I loan it, the loans tie up my coins for a period I set or until the borrower gets liquidated. If that happens I just lend it out again.Quote:
Originally Posted by 4matic
Looking bullish as fuck. 8k before midnight?
If it is way up overnight, buying back into a riot position premarket tomorrow. Stock price seems to follow bitcoin price. Cashed out my position this afternoon.
Sent from my SAMSUNG-SM-G930A using TGR Forums mobile app
Coup in Zimbabwe, capital flight. (not that Zimbabwe dollars were anything other than monopoly money to begin with)Quote:
Originally Posted by Whiteroom_Guardian
https://cdn.shopify.com/s/files/1/02...g?v=1375448742
Cashed out some of my BTC last night. Set buy order which was filled while I was sleeping, so Im back in.Quote:
Originally Posted by basinbeater
Lightcoin is boring me, it just moves sideways. Then again I could use it for USD to LTC to other cryptos cause the price is so steady.
I have a sell order for 8499, just in case....
$8058
Boosters engaged.
ETH/LTC looking good too.
'Accidental' bug may have frozen $280 million worth of digital coin ether in a cryptocurrency wallet
Parity said it had discovered a "vulnerability" in its cryptocurrency wallet that allowed users to change code and become the owners of wallets that didn't belong to them
One person "suicided" the wallet, deleting its code and freezing all ether tokens contained within
French hacker Matt Suiche said in a blog post that the code wipeout means that more than $280 million worth of ether has been locked
https://www.cnbc.com/2017/11/08/acci...ty-wallet.html
I placed a sell order a few weeks back at $8000, and had sort of lost track of things since then, until I got the notification that the order had been filled today. Things haven't really moved much since then, so maybe it'll work out OK, but I'm wondering if I should have aimed higher.
CME futures start in three weeks.
$280M of Ether frozen? Um, damn.
Just bought some EOS for shits and giggles.
I still think 10k BTC before year end is possible.
Do you guys get to use the bitcoin to gamble in your Dungeons & Dragons tournaments? That would be FKNA Awesome! :yourock::yourock::yourock::yourock::yourock:
LOL, I hope your just trolling. Did you say this about the internet when it first came out? I know some guys who have retired way early because they invested in Bitcoin at the start. Wish I could say the same. At the same time last year, there was $13 Billion Dollars in the cryptocurrency market, now there is $238 Billion Dollars and growing everyday. These cryptocurrencies are going to change a lot.Quote:
Originally Posted by jm2e
When does Government regulation step in?
All these transactions are tax free right?
That should bring a lot of money into the space. Can't wait.Quote:
Originally Posted by 4matic