This recent talk made me think - how many of people in this topic, who hold BTC are at loss from their average entry point?
i would imagine very few people are sitting on a loss So it's after majority will sit on loss we will be finished with the bubble  Then it's single digits. And won't happen. Keep dreaming  |
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I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear  I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency. Still I can't bear (LOL) being 100% out. Feels too risky. Infrastructure is fragile and having all the eggs in one basket (fiat on exchanges) seems kinda reckless to me. A paper wallet with some long-term holdings feels good. I expect the price to go down, thus 100% fiat to buy cheaper would be more profitable, but I may be wrong, or Gox may be running fractional reserve and go bust at some point (unlikely, but are you willing to bet your right hand on it? Not worth the risk). I guess I'm too emotionally attached to my BTC I'd choose having my money in fiat on one of these exchanges over having my money in BTC... BTC might crash at any given point and fuck you over completely when it catches you off guard. And how exactly would mtgox run fractional reserve, only banks can do that... Given the amount of money that's being traded on Gox (millions), i'd say we're pretty safe... It wouldn't be easy to get away with theft of that magnitude. Wow, I trust much more my BTC than fiat on an exchange. I'm trading, but I feel more comfortable holding my private keys than trusting a third party with my money. It's pretty much the whole point of Bitcoin. Anyhow, I accept and manage the risks involved in trusting my money to a third party - Gox and Bitstamp for example, and I proceed trying to factor all the risks. Thus, I won't trust all my "BTC money" to a third party, I prefer to keep some savings in BTC no matter what is the exchange rate. Calle me hard-core believer, geek, rptard, but it's pretty much how it is The thing is, since these exchanges operate within legal boundaries and the owners are known and probably documented by law enforcement agencies, we are somewhat safeguarded if our fiat were be stolen or abused by the owners of the exchange. There are systems in place in the real world which would combat criminal endeavours to steal our fiat. Bitcoin has none of those. It might all turn to shit tomorrow, that's the harsh truth of it all, and you wouldn't be able to do a damn thing to prevent it. Your coins might even get stolen from the exchange, and you wouldn't be able to do squat. You might be a "bitcoin believer", but i prefer to be realistic about this whole thing, and i think that's the smart thing to do as well instead of putting blind faith into all of this. Bear is approaching |
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I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency. Still I can't bear (LOL) being 100% out. Feels too risky. Infrastructure is fragile and having all the eggs in one basket (fiat on exchanges) seems kinda reckless to me. A paper wallet with some long-term holdings feels good. I expect the price to go down, thus 100% fiat to buy cheaper would be more profitable, but I may be wrong, or Gox may be running fractional reserve and go bust at some point (unlikely, but are you willing to bet your right hand on it? Not worth the risk). I guess I'm too emotionally attached to my BTC I'd choose having my money in fiat on one of these exchanges over having my money in BTC... BTC might crash at any given point and fuck you over completely when it catches you off guard. And how exactly would mtgox run fractional reserve, only banks can do that... Given the amount of money that's being traded on Gox (millions), i'd say we're pretty safe... It wouldn't be easy to get away with theft of that magnitude. Wow, I trust much more my BTC than fiat on an exchange. I'm trading, but I feel more comfortable holding my private keys than trusting a third party with my money. It's pretty much the whole point of Bitcoin. Anyhow, I accept and manage the risks involved in trusting my money to a third party - Gox and Bitstamp for example, and I proceed trying to factor all the risks. Thus, I won't trust all my "BTC money" to a third party, I prefer to keep some savings in BTC no matter what is the exchange rate. Calle me hard-core believer, geek, rptard, but it's pretty much how it is |
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To answer some questions:
- We are located in southern California.
- We will not take any money until the devices are all tested and ready-to-ship.
- We will likely sell via an auction. No price in mind for now.
- The chip and all the components have been soldered in a reflow oven.
- The picture shows bfgminer on the laptop (latest git version + some bugfixes from myself).
Excellent job. This is a needed breath of fresh air. And... THAT WAS FAST. Kudos! |
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How do you deal with capital gains? Ignore it?
I would have some... but I lost most of my private keys in an unfortunate boat accident. Wow that blows... Sorry to hear that man  Also, not everyone lives in the US.
Some have special retirement accounts protected from taxation.
Other can deduce borrowed money when it's paid back.
I might have earn them with my business which accept Bitcoin and paid income tax then.
Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.
I'm not living in the US either, but about 97% of my BTC value is pure profit. If I sold out now I would have to pay ~30% in capital gains. That would require one hell of a trade to just break even (ok, maybe no biggie if I had balls like you). I could technically ignore reporting it, it's kind of a gray area, but I donno, the tax man would probably eat me alive if I did that.  Oh well, guess I'm stuck holding, for the longest time. If you are planning to transfer "for good" significant funds to your personal account to realize fiat denominated profit, it's always better to declare it and pay for it. Not because of some sort of perverted morality, just because you will avoid potential problems in the future. As Frozenlock said, as usual those with less money are those who pay more. Everything depends on how big are the gains you want to "cash out". If those gains are big enough, you can easily build a structure that will make you save a lot of money. But if they are not, you end up paying more. You "cannot afford" to save on taxes |
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I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency. Still I can't bear (LOL) being 100% out. Feels too risky. Infrastructure is fragile and having all the eggs in one basket (fiat on exchanges) seems kinda reckless to me. A paper wallet with some long-term holdings feels good. I expect the price to go down, thus 100% fiat to buy cheaper would be more profitable, but I may be wrong, or Gox may be running fractional reserve and go bust at some point (unlikely, but are you willing to bet your right hand on it? Not worth the risk). I guess I'm too emotionally attached to my BTC |
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i bought again Again I'll ask: Are you all in yet?  I think the more interesting question is, are you all out? I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear |
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If you don't trust the client: write your own
If you don't trust the miner: write your own
Nope, not gonna let that pass. It's a cop-out. The point that's been made is that it's open-source so anybody could read and verify the code. So my asking if anyone has read it, that is absolutely a fair and reasonable question. Yes. Dozens of people on these forums, on a regular basis. |
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95$ will be a big battle (if reached)....
Reached for sure. Nothing is sure in bitcoinland. We're just flawed mortals who can only watch and hope.  One thing is for sure ... Jarlo-jaw is on ignore Long time ago. If nobody was quoting him, then would just be as he did not exist at all |
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95$ will be a big battle (if reached)....
Reached for sure. |
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Excellent point. who knows what that program is really doing.
LOL, stupidity. Check the code, it's open source And if you cannot read code at least read books, at least you would stop asking dumb questions. |
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The give away was the increasing price on decreasing volume over 3 days. That is often a pretty tell tale sign of downward movement to come.
It was for me. But I wish I would have listened to my gut at $130...
True... I'd like to see the $100 support level turn into resistance though... It's going to take some major selling to hold under this important psychological level, but if it does, then we might finally start to see some panic selling I also see some panic selling approaching, but I don't think the volume will be as high as we had during the $266 to $50 crash. We had two days with ATH volume. We'll see. |
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don't you mean
go, Go, GO?
I mean crash to the floor so greedy me can buy cheaply and assume that bubble is over. Where's your bids? How much are you going to buy? I assume you are all fiat now? All fiat, I have them proportionally spread out in 30-60 area. You should move them to 51-80 area, it's very unlikely that we will see below 50. I strongly believe that bubble requires a capitulation stage, the true panic and fear, it wont happen above 50. But I might be mistaken. I also have my panic buy limit but it is secret All true. But Bitcoin is a strange beast. |
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Bears on parade  |
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prism-break.org - nice website, but in section "Online transactions" is only Bitcoin. There should be other major cryptocoins. People should know that there are other coins.
I would avoid exposing people to clone scam-coins. |
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Wow, this is SO bullish you can't even imagine... Bitcoin rising  |
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I'd like to buy SD shares. Is there any way to buy them not going through MPOE?
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Well, everybody is saying "no", shares are plummeting, but still SD counts for 50% of all the transactions in the network.
Great opportunity, I'm buying - does somebody know if I can buy avoiding MPOE?
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So much fail in this thread.
Could be. If so, it's all mine. I stand by my OP. "And yet it moves" (grin) It moves because we are in a motherfucking bear market, you have to be blind not to see it. We have been trading on decreasing volume since Sunday, while ask sum increased. A dip was expected for obvious reasons (again: bear market after bubble bursts), regardless of this world Bank FUD gathering. In fact, first dip happened way before that gathering started. |
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