Bitcoin

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  • StevoStevo Upgrade in Progress
  • http://codinginmysleep.com/open-letter-mark-karpeles/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CodingInMySleep+%28Coding+In+My+Sleep%29


     


    This blog addresses the fallacy of that article.  I like this dude.  Bitcoin has withstood attack after attack after attack, only getting stronger each time.


     


    With regards to altcoins.  I too converted all of mine into btc.  With the exception of 1000 Dogecoin, who knows there, LOL!  I also kept 10000 Worldcoin because again, you never know.  Bitcoin's network effect and infrastructure are too strong.  And I agree they can just change the code to make it better.


  • I still do cpu-mining for other altcoins. But I keep the majority of my portfolio in bitcoin. By now it's a currency I trust, despite the ups and downs. 


     


    And yeah, like others have said. Trading with other currencies can be profitable. Like primecoin (for me) and dogecoin (for a lot others it would seem)


     


    What truly will be fun, will be to see what happens with Bitcoin once mining becomes truly a professional endeavor. I own an asic-miner, and even that is proving less useful each day. 


    Not just symptom free.

  • Sad - I wonder what happened? Did she kill herself? We know times have been tough for any Bitcoin-related exec. Also, she posted this on her Facebook:


     


    http://www.inc.com/magazine/201309/jessica-bruder/psychological-price-of-entrepreneurship.html


     


    Then again, maybe a disgruntled bitcoin former-kazillionaire targeted her? Or whoever has been responsible for the banker deaths of late? I have not been following that closely, but seems there have been a rash of deaths at high levels in the worldwide banking community...

  • StevoStevo Upgrade in Progress

    Bitcoin is a huge threat to the international banking cartel. I wouldn't be surprised if they had something to do with it. But you'd never ever know. ;-)


  • And then there's the recent JP Morgan execs who mysteriously died.

    http://rt.com/business/jpmorgan-third-banker-suicide-655/
  • Yeah, what is up with that? Is there a vigilante group out there sneaking around and offing big bankers? I'm imagining a group of uber-fringe Occupy people. 




  • Yeah, what is up with that? Is there a vigilante group out there sneaking around and offing big bankers? I'm imagining a group of uber-fringe Occupy people. 




     


     


    It's like its straight out of a Jason Bourne movie.

  • I don't believe bitcoin will last for long, BitCoin idea is great, but the way it is running today as a stock market day up and day down, it is not much different than gambling




  • I don't believe bitcoin will last for long, BitCoin idea is great, but the way it is running today as a stock market day up and day down, it is not much different than gambling




     


    True, but is trading on the NASDAQ any different?

  • edited March 2014

    http://auroracoin.org/


    Auroracoin just started their airdrop, at the time of this post 1.5% of Iceland's population own 31.8 auroracoin each. I bought a few incase it takes off. I bought very few (1% of my coin portfolio) though because this is a really hard situation to assess, it could go either way really. I'm very excited to see if it goes well though!

     


     




    I don't believe bitcoin will last for long, BitCoin idea is great, but the way it is running today as a stock market day up and day down, it is not much different than gambling



     



    Volatility decreases with adaption and liquidity. Just gotta give it time to grow. The question then is if it will grow? And I personally think yes because of the large amount of bitcoin related startups right now. As well as hedge funds soon. And not to forget, the usefulness of it in countries such as Cyprus, Iceland, Argentina and more


  • edited April 2014


    True, but is trading on the NASDAQ any different?




     


    Yes, trading on the NASDAQ is different because you have a myriad securities to choose from, all of which you can get historical volatility and other technical indicators as well as mitigate your risk through multiple investments and hedging. With Bitcoin, technical indicators often do not apply due to inexperienced investors and market hype, and the percent historical volatility day-over-day is exponentially greater than that of the NASDAQ as a whole. Not to say that Bitcoin can't be a good investment vehicle if done wisely, but to compare it to trading on the NASDAQ is a bit ludicrous - it would be more like throwing all your money at the pink sheets and hoping nothing bad happens.


    ModaMinds - Worldwide delivery of modafinil
    7% off with BULLETPROOF7 or 30% off with Bitcoin orders
  • Lets not forget Apple trades on nasdaq. 


  • edited April 2014


    Lets not forget Apple trades on nasdaq. 




     


    Let's not forget there are 2825 companies on NASDAQ. One stock that was unstable for a short period of time does not make the entire exchange volatile, hence the multiple investments and hedging I mentioned. 2825 companies provide overall stability. Quite different than putting your money into a currency that comprises a whole market on its own.


    ModaMinds - Worldwide delivery of modafinil
    7% off with BULLETPROOF7 or 30% off with Bitcoin orders
  • It's all still gambling no matter which way you look at it. Now if we did not have crony capitalism, it would be better described as an investment. But in btc, the cronies have not been able to manipulate it yet. Something to think about.
  • Joe E.Joe E.
    edited April 2014


    I started accepting it at Genco a couple of months ago, I've had 3-4 orders out of 200 in that time frame, 2 of those customers came back and ordered again via credit/debit. I still don't think bitcoin is going to last. You have banks (like Chase) closing accounts that have sent/received fiat from exchanges etc.




     


     


    I agree that if bitcoin continues down the regulatory path, it will not receive mass adoption.  However, the nature if btc is not to follow the regulatory path.  If America does not embrace it, it will feel it's wrath down the line.  When the US dollar collapses, people around the world will flock towards gold, silver, and bitcoin.  Make no mistake.  It's going to happen.  And if the U.S. is not positioned for this move, we will lose.  




  • Yes, trading on the NASDAQ is different because you have a myriad securities to choose from, all of which you can get historical volatility and other technical indicators as well as mitigate your risk through multiple investments and hedging. With Bitcoin, technical indicators often do not apply due to inexperienced investors and market hype, and the percent historical volatility day-over-day is exponentially greater than that of the NASDAQ as a whole. Not to say that Bitcoin can't be a good investment vehicle if done wisely, but to compare it to trading on the NASDAQ is a bit ludicrous - it would be more like throwing all your money at the pink sheets and hoping nothing bad happens.




    Funny enough, bitcoin is going to be traded through an ETF on NASDAQ: http://www.nasdaq.com/article/bitcoin-etf-inching-closer-to-reality-cm358963 :)



  • Funny enough, bitcoin is going to be traded through an ETF on NASDAQ: http://www.nasdaq.com/article/bitcoin-etf-inching-closer-to-reality-cm358963 :)




     


    Yeah, there are a couple EFTs going live later in this year I believe. Looking forward to seeing how that goes.

    ModaMinds - Worldwide delivery of modafinil
    7% off with BULLETPROOF7 or 30% off with Bitcoin orders


  • I agree that if bitcoin continues down the regulatory path, it will not receive mass adoption.  However, the nature if btc is not to follow the regulatory path.  If America does not embrace it, it will feel it's wrath down the line.  When the US dollar collapses, people around the world will flock towards gold, silver, and bitcoin.  Make no mistake.  It's going to happen.  And if the U.S. is not positioned for this move, we will lose.  




    sorry if this was mentioned in earlier posts but where would the best place/way to buy gold/silver with bitcoin?and how have You dealt with the Tax side of things?do Youhave to keep stringent records of all transactions?Thank You


  • I use Amagimetals to buy gold/silver with bitcoin. Here's my affiliate link:

    https://www.amagimetals.com/#a_aid=jcom3030


    As far as taxes. When you buy bitcoin, that is your purchase price for tax purposes. When you sell them or buy something with them, that is your taxable event. But, the cool thing about bitcoin is the IRS will never see these transactions. They may be able to see the buy after a subpoena on your bank records, but how in the hell, and why, are they going to track down your sales. Unless your a big fish committing crimes, you shouldn't worry. There are some nice pdf's on the IRS and bitcoin. Google it.


  • I use Amagimetals to buy gold/silver with bitcoin. Here's my affiliate link:
    https://www.amagimetals.com/#a_aid=jcom3030


    As far as taxes. When you buy bitcoin, that is your purchase price for tax purposes. When you sell them or buy something with them, that is your taxable event. But, the cool thing about bitcoin is the IRS will never see these transactions. They may be able to see the buy after a subpoena on your bank records, but how in the hell, and why, are they going to track down your sales. Unless your a big fish committing crimes, you shouldn't worry. There are some nice pdf's on the IRS and bitcoin. Google it.




    Thanks appreciate the Info,invaluable shit...This will be a loaded question,sorry but do You still use Coinbase for alll transactions? and what is the speculation for 2015 In Your Opinion?I'm ready to pull the trigger for about 10 Bitcoin...




  • Thanks appreciate the Info,invaluable shit...This will be a loaded question,sorry but do You still use Coinbase for alll transactions? and what is the speculation for 2015 In Your Opinion?I'm ready to pull the trigger for about 10 Bitcoin...




     


    Thanks!  Yes, I buy with coinbase.  People kept saying 2014 was going to be a huge year, but it's been relatively flat if not down.  I don't think 2015 will be any different.  If I were you, I would scale in.  Don't jump in all at once.  And get some NXT too.  Trade on Crypsy for it.  I own NXT and a little Etherium.   The window to buy Etherium is closing though.  These are all super high risk ventures.  Don't put any money in your not willing to lose 100% of.  



  • Thanks!  Yes, I buy with coinbase.  People kept saying 2014 was going to be a huge year, but it's been relatively flat if not down.  I don't think 2015 will be any different.  If I were you, I would scale in.  Don't jump in all at once.  And get some NXT too.  Trade on Crypsy for it.  I own NXT and a little Etherium.   The window to buy Etherium is closing though.  These are all super high risk ventures.  Don't put any money in your not willing to lose 100% of.  




    this is probably a stupid obvious question so forgive Me but Bitcoin after purchase can be transferred to Bank account at any time correct?Thanks for Your help,appreciate it

  • No. Unequivocally no.


  • No. Unequivocally no.




    ok so do You usually buy Gold with it?or what in Your opinion is the best way to cash them out?thanks a lot and sorry for all the Novice questions but would rather get info from an experienced user...


  • Yep, just buy stuff, gold, silver, whatever.
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