The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.
realize your gains in capital gains tax free jurisdiction |
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haha , wrong see even if bitcoin can't some crypto will fill the gap, between store of wealth crypto and daily small buy crypto. Eg see emunie EMU. http://forum.emunie.com/ |
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I believe the bulk of those already in are not intending to ever cash out. It's an all in no limit bet on everyone in the world taking bitcoins instead of or in addition to fiat.
Those coming in now will be speculating but in smaller amounts, a million USD now buys a 1,000 btc instead of a million of them. So that side of the funnel is narrowing also.
If I were in that position you described I would scale out of the position slowly an steadily, leave 20% for if it lives on and be plenty alright with that outcome.
You will probably see this thing go beyond anyone's expectations, though the exchanges are the very worst part of the system. I imagine it will get worked out as more money is at stake.
But yes, scaling out before the blow off top is mandatory, from a purely risk management perspective.
But what I think is asymmetric is almost every exchange can take an unlimited amount of money in, eg Gox still says you can send as much money as you want in, no limit, but severely limits getting this out. How can a bank whom ever the exchange use act in this asymmetric way, if they have the ability to accept unlimited funds, then they should be able to remit unlimited funds. Something here does not add up |
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this is pretty neet
I wish some one would make a spread sheet version that I can run locally with some http//gets
also XRP would be a useful addition
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Its not cpu or server farm resistant. Just look at the hash rates on qrk.coinmine.pl.. Lots of server farms there. Same with Secure Coin a Quark copy.
so why do they say it on their forum??? http://quark.freeforums.net/thread/3/invest-quark-newQuark differs from Bitcoin in that it is much more decentralized. It also cannot be mined by huge specialized server farms. It will remain decentralized – FOREVER. That makes it the crypto currency of we, the people. |
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It doesn't matter even if it is. People with the most money will still be able to mine the most of it.
but surely if it is 50 million people are going to be hard to beat by say 10 rich people... i am interested how this could be cpu/server farm resistant... what have they done? |
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Quark claims to be how cpu farm resistant....is this true / if so how?
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I think I want you to back that statement up with some evidence.
see thier tweet BTC-E @btcecom Update: TRC\BTC pair will not be delisted. |
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well he might want to lock in a gain or needs to buy something!
so still a very valid question
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hmmm good point any takers I thin gox has a limit of 50k a month...unless you get an aposilte bitstamp?  kraken? |
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what do you all think about that?
BTC-E @btcecom
Update: TRC\BTC pair will not be delisted.
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Power usage of the whole network, it grows depending on the Bitcoin price.
Who pays for this power usage?
Peercoin solves this issue |
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So there is going to be a correction, the problem is how high does it go and what is the correction low, this make selling impossible. Also I think after every correction that hands must be stronger as those people who did not sell out are not going to sell out, so it make it harder to push down, you only get the residual newbs with weak hand that get flushed out. I feel 10K at this point is a given, maybe not this time but its going to happen, and after I would not be surprised to see 100K about 13 months after the 10K is reached.....from then I could easily go to 1 Million a coin. At 2.1T - 21T+ market cap BTC/Cryptos will be a force to be reckoned with <Polemic begins> Why ? There is so much political mismanagement/uselessness/oppression, outright inefficiency, economic mismanagement, quantitative easing, and finally we the people have the mechanism to catch all of this and see the elision of sovereignty from the state 'the select few" to the individual, <EOP> Also the alts are going grab a piece of the pie, even if its not BTC, some cyrpto will do it. |
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The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...
Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Extrapolating an exponential curve is pretty dangerous though. not on a log graph its not, having said that I think we should only be at $300 right now, $1k stable would be about may 2014 |
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For the 1,000,000th Time. Litecoin transactions are not faster as Bitcoin transactions.
Confirmations are faster, but they still offer the same amount of security in the same amount of time as Bitcoin confirmations (compared to total Network Hash rate).
And if the only reason to wait for confirmations is security, well...
we need to write to them.... |
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i don't think so. but around 250 - 300 is likely, if we have a crash again.
After a new all time high, bitcoin's history tells us that we will likely go back down to the last all time high, and trade around that point for a few months.
I agree with this, but its just to risky to sell because BTC could not do this as well. So even if it goes down we can just wait |
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I lost much faith in this article when I read Litecoin, for example, retains Bitcoin’s limited money supply but offers faster transactions and tries to avoid energy-intensive mining. This is completely wrong. LTC uses just as much power as BTC. all so the asic network is not busting at the seams, it BTC difficultly drops if miners pull out |
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if/when btc hits $10,000 you will have $50,000. keep in mind that by the time we hit 10k it will require massive amounts of fiat to be flowing into btc than are today. you could be waiting a while depending on how strong your hands are.
this is what i dont get before $1 it took ages to get there, then it just jumps around 10c at a time before 100 it took ages to get there then jumps around 10 at a time no worries before $1000 it took ages to get there now just jumps 50 - 100 no worries I'm not quite across the mechanics of how this works. it seems that for each order of magnitude, it just jumps easily withing the prior range that was such a barrier....how does this happen |
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