Bitcoin is not dead.
I think now is very good time to invest because of amazon.
They will probably start accepting BTC in 2015.
Amazon already accepts BTC via Gyft - and you get 3% back! |
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exocytosis has been added to my ignore list  Welcome to the club - he's been on mine for a long time. Along with fonzie - hehe... |
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We will see double digits this year, and no rally until at least the march 2016 reward halving. BTC is way overmined at the moment, and most of the core supporters (who also happened to be miners), jumped shipped last spring when ASICs came out, and Bitcoin mining became centralized. There's going to be the ongoing saga of the SR1 bust, and new saga of SR2 bust - plus the next ten iterations of whatever drug market people are using these days. TOR is already cracked, these are easy arrests for them to make.
To be honest, the only aspect of Bitcoin I see actually succeeding is the blockchain.
I will take that bet and put up 2 bitcoins to your 1 that we don't see double digits before the end of 2014. Lets setup the escrow and get this going, smart guy! As a side-bet, lets have the loser get a permaban from bitcointalk. <inbeforecrickets> |
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I cashed out some long term investments with significant capital gains in order to invest in Bitcoin. Sadly, I did this in the spring of 2014, so my basis is around $700 per coin and obviously I'm down around half my investment.
However, it seems like I now have an opportunity to offset the taxes I would normally have to pay on my long term capital gains by just selling my Bitcoins at a loss, record the loss on my taxes against my gains, and then rebuy my Bitcoins (HODL!). My new basis would then be the current price (~$340) and I'll be able to both offset the taxes owed on my gains, and deduct $3000 in losses per year for the next couple of years (until all the losses have been accounted for) if I don't have any more gains to offset.
Am I thinking about this right?
Also, moderators feel free to put this somewhere else if it doesn't belong here - Economics? Speculation?
thanks for any advice!
dan
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My plan is to cash out at $4500, then rebuy at $1000. Seems reasonable.
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It's like the bears are polar bears, and Bitcoin is global warming.
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I think someone had some taxes to pay and waited until the last minute to turn some coin into fiat. That is all.
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A bullshit prediction based essentially on a "gut feeling" with a side of homophobia. Welcome to my ignore list.
LOL at Chuckee adding someone to HIS ignore list. |
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I assume I am going to go to bed, wake up, and Bitcoin will be at 420. Wakey bakey!
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Ask wall just grew by 2.5k Well I guess he can buy back some of his coins cheaper now >.<
Um, what? You know, sell at $300 per coin. Get others to panic sell and pick the coins a bit cheaper from other dumpers, removal wall and allow price to rise. Buy in the $290's or lower and sell at or above $300. If he wanted to induce a panic sell he wouldn't have set up this wall - just sell outright and let chaos reign. He needs some cash NOW and is trying to get what he can for his coins. |
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A viable proposal from another thread -
"I've wondered whether the Oct 15 deadline for US income tax might be playing a role. Someone who needed to sell bitcoin to pay 2013 income taxes may have taken the 6-month extension, thinking / hoping that the next bubble would have at least started by now. "
This would really make sense. The whale spent the last few days trying to get the best price possible, and now is left with setting up a wall that will get eaten hopefully in a day or two. Once eaten, it takes a few days to get the cash off of the exchange and off to the IRS.
Seems VERY bullish to me.
How is that bullish? He means that perhaps this is all just a mistake by a megabullwhale with more bitcoins than sense and that it has nothing to do with the Bitcoin ecosphere. Kinda - I more mean that someone needs a lot of cash quick - for taxes or whatever - but the market is strong and eating the wall without a huge backlash. Once the wall is gone we'll be back into the 400's with the demand we are seeing. Not sure about the loan idea - maybe that would be smarter? He's selling at a bunch of losses to cover his gains to make an even balance sheet. Report the losses. Rebuy coins. Profit. |
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A viable proposal from another thread -
"I've wondered whether the Oct 15 deadline for US income tax might be playing a role. Someone who needed to sell bitcoin to pay 2013 income taxes may have taken the 6-month extension, thinking / hoping that the next bubble would have at least started by now. "
This would really make sense. The whale spent the last few days trying to get the best price possible, and now is left with setting up a wall that will get eaten hopefully in a day or two. Once eaten, it takes a few days to get the cash off of the exchange and off to the IRS.
Seems VERY bullish to me.
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Can we tell if the majority of them are getting bought by one buyer? Maybe this is an organized sell to a buyer that wants to do it on the exchange for fun...
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i wonder what will happen after the wall was torn down, will this manbearwhale transformed into manbullwhale and buy all the way up to 3000usd ?  Seems like he would have to hate money to do that. |
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I'v been bought all the way from 400 and all in today We'll never see 300 again in the near future Don't be afraid to keep the noob in your username. :-) |
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So Bitcoins are at what most people think is close to "bottom", and all of the sudden this whale shows up and wants to sell 25k coins? Something is very fishy, and in a scary "insider knows shit is going down soon" sort of way.
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