For comparison, about 2500 tons of gold is mined each year, which equates to about 80 million ounces. At $1,205/ounce, that's $96.4 billion. So Bitcoin would have to be about 1/3 as popular as gold if it were to happen right now.
That's an interesting statistic. I often wonder what the ratio is of private vs institutional/governmental buying when it comes to gold. I only know of one person who admits to any involvement in gold.
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Although the devices will be spread far and wide, all of them will be pointed to 21's pool.
If it really goes enormous and they make themselves not too far off the google of BTC, I wonder what happens if they decide they don't like the halving schedule so much...
At that point other Bitcoin users and miners might be in a significant minority. 21's Bitcoin might waltz off into the sunset while everyone else chugs down their modest little path.
All miners at present are 'conscious' and can point them wherever they like. 21 locks a huge amount of machinery in and most people aren't going to know or care what it's actually up to.
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My balance is more like .4 btc.
Anyone with more then what I have Im pretty jealous...
Gee, if you only had another $150, you could have a whole bitcoin. I know plenty of first world folks who wouldn't be able to spare that type of money for something that isn't of immediate benefit to them. Huge numbers of people are out of cash before the end of the month. Not everyone is a virile success with money socked away. The poster could easily get into the one coin club with a sig campaign. Depends what their ongoing expense are.
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Depravity? It was no more depraved than your local boozeshop or Pharmacy. Lots of people saw it as a great libertarian experiment regardless of its ultimate fate. People should be allowed to buy or use whatever drugs they wish and some people see that as a fundamental human right and whether you like it or not and Silk Road and other darknet markets allowed that to happen for those people.
Agreed. Large swathes of the planet do not feel that way.
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There'll need to be some eagle eyes to keep a count as they're primed to be deleted. I think there are more meaningful things to do with one's life.
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Why is no SilkRoad a good thing? You do realize that there's plenty more of darknet markets and when one gets taken down another just springs up to take its place? Besides, darknet markets are good for bitcoin as it gets money flowing in and out of bitcoin and coins moving around.
Silkroad was the posterboy for Bitcoin's perceived depravity. There are a ton of other markets out there and always will be but that's the one that people who want to hate it fixated on.
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Good god. I'm trapped forever. Ah well. Thanks for the answers.
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Already done that. It makes no difference. They still keep popping up.
I never use the watchlist feature, just the new replies to your posts. There doesn't seem to be a way to get rid of any of them.
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Is there any way of doing this?
I've contributed to threads in the past that I'm no longer interested in and seem to drone on for all eternity.
I've deleted my posts from them but the threads still keep on popping up time after time. Removing them from my watchlist does nothing either.
Am I missing something obvious or is this not possible?
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So what would happen in the UK if (unrealistic but hey) bitcoin went to 10,000 USD per coin & we cashed in all of our coins? Would we be taxed on it? Surely it's not fair to tax somebody on something that was such a risky investment to begin with? If you're a professional gambler in the UK & try to declare yourself as so HMRC (tax man) isn't interested in dealing with you, surely bitcoin is a bit of a gamble so it's the same? Unsure what it's like in other countries but if they're not regulating/approving/accepting bitcoin in the mainstream/banks how could they suddenly say they want to tax you? Surely they can't have it both ways?
This is an interesting read. I'm not sure whether it's been updated since it was published. https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies#ct-it-and-cgt-treatment-of-bitcoin-and-similar-cryptocurrencies"As with any other activity, whether the treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies will be subject to CT, IT or CGT depends on the activities and the parties involved." "Chargeable gains: CT and CGT - if a profit or loss on a currency contract is not within trading profits or otherwise within the loan relationship rules, it would normally be taxable as a chargeable gain or allowable as a loss for CT or CGT purposes. Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for CGT if they accrue to an individual or, for CT on chargeable gains if they accrue to a company."
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Its not bullish for bitcoin - it is bullish for crypto adoption. Lawsky knows that the financial services industry will seek to create a replacement for the payments network , ideally (from their perspective) a quasi-walled garden which only authorised participants (banks and payments agents) can access
So the future of crypto is as an inter bank payment network only accessible by a few hundred or thousand players? I think he'd be out of a job pretty rapidly then. Once it's ticking away nicely that's that.
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add in the term "capitulation".
Yes, that one gets my goat too. What an exhausting place financial markets must be if every single rise can only happen off the back of every single person being involved in each item reaching the edge of suicide. Then, just as the final noose is wrapped around the final neck, a young orphan fights her way out of the rubble. Still clutching her teddy she struggles to the nearest Bloomberg terminal. Her fingers shaking, vomit foaming at the edge of her mouth, blood trickling out of her nose, she places the first order that has happened in over 43 months. At that very moment the sun emerges from behind the clouds and the birds start to sing.
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Bullish. Finally going back to 240s
Wake me when we're in the 2400s. zzz. You wouldn't even have the slightest poo poo of excitement if the ATH was ever broken? I don't understand why people give a shit about $10 moves or even $100 moves. Cos their asses are leveraged to the hilt. Those who are not ain't gonna care.
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Bullish. Finally going back to 240s
Wake me when we're in the 2400s. zzz. You wouldn't even have the slightest poo poo of excitement if the ATH was ever broken?
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There's no great desire for any crypto right now. The only people buying anything are probably the same old suspects and they're no doubt pretty worn out by the alt scene in general.
NEM in general has been much classier than most alts. It's still stuck in the same rut as all the others though.
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I think that good news is expected.
If there wasn't any good news, everybody would sell.
I doubt the average Chinese bot gives the tiniest shit about good news or lack thereof these days.
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Well what the hell is going to happen with the NY Bitlicense approval/regulation now then? It was supposed to be very close to being granted & now Lawsky has decided to quit his post & try to get a piece of bitcoin action any way. Any ideas on what is going to happen with the Bitlicense now anybody? I'm slightly confused as to what happens next?
Due at the end of the month so they say. Considering how much noise he made about it, I assume he signed it off before setting off. There still seem to be plenty of gripes though. Dunno if they've been addressed.
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So basically, everyone who's forced to sit down and learn something about Bitcoin wants a piece of the action. Bullish...
I remember his eyes glittering during the streamed crypto hearing things he attended as more was explained to him. I guess he's now 'outed' himself.
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Copying and pasting the code is a bit cumbersome. You have to scroll for miles to catch it all. It's easy to get it wrong.
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