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Don't buy litecoin. It will be worthless.
Just buy bitcoin. Litecoin can never overtake bitcoin because it isn't any better than bitcoin and bitcoin was there first.
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Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.
Thanks.
Hi mgio, how is your redeeming going? I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders. The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this. In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to. Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing.. I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced? The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed. In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation. He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him. Holding the equivalent of millions of US dollars with no explanation could certainly hurt him as well if someone decides they are tired of waiting and try to do something about it. I see literally no reason ukyo is being so secretive unless it involves something that makes him look bad or worse. it is possible for legal reasons he cant speak out but I don't buy that. Even in that case he could tell us he cant legally say anything but it looks more like he chose to keep everything secret at his own will. I believe he did say something like that a little while back. People are getting impatient and I'm sure people are already pursuing legal action. I agree that the situation is not good, especially since there hasn't been dividends in 5 days now. Not that it would matter as weexchange issues seem to make it impossible to withdraw bitcoin either. Ukyo is in a very bad situation. I'm guessing he has nowhere near the 1.2 million necessary to cover the bonds as is hoping that his new business ventures will be able to earn enough to pay them off. It looks like that might be difficult though as I imagine the shutdown of bitfunder cost him a lot. |
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Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.
Thanks.
Hi mgio, how is your redeeming going? I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders. The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this. In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to. Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing.. I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced? The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed. In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation. He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him. |
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the government will only tax you on the FIAT profit you make. EG when you cash out and put the funds into your bank account.
remember the rules of trading. you have not profited or lost until you sell.
That's not really true. If you mine bitcoins, you owe income tax based on the value of the coins you mine, when you mine them. Then later, if you sell, you owe capital gains tax on the difference between the value of the coins when they were mined and the price you sell them for (if there is a gain). Of course, this is a HUGE pain since for most people mining in a pool mining is a continuous process and the BTC exchange rate is constantly changing. Also, what even do you use for the current BTC rate! MTGox isn't realistic like it used to be since no one in the US sells there anymore. |
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Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.
Thanks.
Hi mgio, how is your redeeming going? I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders. The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this. In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to. Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing.. I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced? The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed. |
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Most people would be best served by holding the BTC or investing in fixed-rate bonds, like XBOND (I hold XBOND, but that may even be facing a forced buyback at face value by TAT).
Buyback is 105% face value. For anyone who bought it at its face value, it is pretty good. I used to hold 250,000 shares of XBOND, but when bitfunder got shut down, I freaked out. Bonds are not safe investments anymore! I also hold slightly less than 25,000 shares of ukyo.loan, that's 250 coins worth, and I'm not sure if I'm ever going to see any of it :-/. |
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I'll consider us to have hit $1000 when Coinbase is BUYING coins for $1000.
Gox only hit $900 and gox doesn't count anymore.
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Don't use candlestick charts. Candles make 0 sense for a commodity like bitcoin that trades 24/7.
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damn, I gave my ex-gf 2 bitcoins last year when they were only like $15 each. Now she is rich!
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Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.
Thanks.
Hi mgio, how is your redeeming going? I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders. The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this. In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to. |
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Well I sold roughly 1/3 of my bitcoins at about $400. SInce I made a $100k profit though, I'm not too unhappy.  If you're in the US, or just generally, I'd be very careful about posting stuff like that. Im paying taxes (long term capital gains) on it so i dont care. Even if I wanted to evade taxes, there is no way I could hide that amount of money. |
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Well I sold roughly 1/3 of my bitcoins at about $400. SInce I made a $100k profit though, I'm not too unhappy. |
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Sold 50 coins on coinbase at 775 or so. Would have bought back in the low 600s if coinbase actually had coins to sell!
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I sold 250 coins last week at a little under 400. Of course I regret that now as I could have made another 80k by holding, but whatever. I really didn't expect us to hit 500. I'll be surprised if we can make it to $1000 without popping. its just going up too fast right now
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I am becoming more and more convinced that a crash won't happen anytime soon.
The faster it is rising actually makes it MORE likely there will be a crash. Things that shoot up quickly can come down just as quickly. People are getting nervous. Any bad news could cause them to panic and pull out and we'll see a spectacular crash like we've never seen before. Smart money sells little by little on the way up and buys back in after the crash. |
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You obviously weren't around in April.
In Januuary we were at about $12. In April we soared to $266, followed by a huge crash. Bitcoin had gone up over 20 times in just about 4 months, the vast majority of that in early April itself.
We have just seen Bitcoin go up about 7 times in value.
It's true, the value is increasing exponentially. Even the rate it increasing and I predict a crash within the next 3 days.
But it certainly won't destroy bitcoin.
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I sold them 250 coins in the past week. People must be buying them up like crazy.
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Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.
Thanks.
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If there is found to be a weakness in the bitcoin protocol, alt coins will crash too.
I can guarantee you that technically that doesn't have to be the case. It might be the case with near xerox copies such as Litecoin (although Litecoin isn't vulnerable to ASICs yet, has 5X faster block times, and a more dispersed coin supply), but it won't necessarily be the case with an altcoin that actually fixes the known attacks in Bitcoin. In fact, Bitcoin is broken right now. Btw, I am not bashing Bitcoin to try to get the price to drop so I can buy. Nor do I need people to stop buying Bitcoin in order for an altcoin to succeed (actually the opposite as it is much easier to trade BTC for an altcoin than to obtain from fiat). I may buy some Bitcoin. I believe Bitcoin's exponential price rise will likely continue for 2 years at least (although brief crashes along the way are possible). Try to not look at everyone as having a black or white position (akin to "you are with us or against us", POTUS Bush when referring to the neocon terrorism police state). What alt coin fixes the vulnerabilities with bitcoin? That's right, NONE OF THEM DO. They are all essentially just bitcoin. And an altcoin that addresses a single vulnerability is only a hedge against an exploit being found in that vulnerabilitiy There still is the much larger problem of people losing faith in crypto currencies in general. |
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BITCOINBOND is the risk free bitcoin investment. Each bond entitles you to the following:
1000 satoshis per day GUARENTED risk free income
This income is guarented regardless of how high bitcoin price is. You will always receive 1000 satoshis per day for 2.5 years
= 365,000 Satoshi Per Year (0.00365 BTC Per Year)
You can buy bonds for the following prices:
50 bonds: 0.69 BTC (0.0138 BTC per bond, 26% return per year)
100 bonds: 1.29 BTC (0.0129 BTC per bo0nd, 28% return per year)
250 bonds: 2.79 BTC (0.0112 BTC per bond, 33% return per year)
1000 bonds: 10.49 BTC (0.0105 BTC per bond, 35% return per year)
5000 bonds: 48.49 BTC (0.0097 BTC per bond, 38% return per year) BEST VALUE
Bonds expire after 2.5 yr. To purchase please pm. This is risk free investment.
Not risk free. Just ask any of the investors of the ukyo.loan or graet.loan bonds. |
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