can you name me a new technology that has been banned? why on earth would bitcoin be the first one? digitization of our entire culture is inevitable. digitization is in the sam e league as industrialization. it cannot be stopped.
Possession of a Guggenheim printing press might have cost you your life at some points in history. Distillation is widely illegal on an individual basis. Absinthe suffered a worldwide ban post-WW2. Hell, even alcohol itself was illegal in the US for a good time during Prohibition. Equipment used for counterfeiting currency is illegal Torrenting DRM material is illegal Anti-DRM technology is illegal Owning gold as currency was illegal in the US during wartime Certain drugs and technology to produce them, both natural and synthetic are largely illegal. Weapons of mass destruction are illegal (as mentioned) Firearms are illegal in many countries Hell, the Internet is even illegal in some countries. Certain social media is illegal behind China's great firewall. There is even talk of making some types of encryption illegal Basically, any technologies involved in the spread of information or ideas or substances that affect thinking or could cause harm or disruption to society have, at some point or another, been banned or attempted to be banned by some government. Governments and those in power will do anything to maintain the status quo. I agree however that most technologies cannot be stopped. Won't stop them from trying, though. |
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P.S.: Almost everything is a taxable event as it involves "using" the actual value of BTC which is different than when you initially acquired it. The only thing I don't agree is that "moving the coins out of coinbase" is a taxable event. That doesn't make any sense.
Where is the source for "moving coins out of Coinbase" as a taxable event? Would this mean if the coins were bought at, say, $1000 and then moved out immediately at $1000, then the gains are effectively zero? Or that I could even claim a loss if the price dropped? Would this also mean that the further gains to $10,000 are effectively tax free, because, double taxation and all? |
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I may be asking a question with an obvious answer, but could a US citizen immigrate to Panama (or another CG-free country), then cash in his bitcoins tax free, and be off the hook for taxes in the US?
You have to irrevocably renounce your citizenship. With the caveat: Persons who wish to renounce U.S. citizenship should be aware of the fact that renunciation of U.S. citizenship may have no effect on their U.S. tax or military service obligations. https://travel.state.gov/content/travel/en/legal-considerations/us-citizenship-laws-policies/renunciation-of-citizenship.htmlSo I'm guessing if you haven't realized any gains until after renouncing, you're safe? (contact the Internal Revenue Service or U.S. Selective Service for more information) Ha! |
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What an awesome test of resistance at $9000.
We spent a total of only 8 days in the $8000-$9000 range, and only 5 days above $9000 and here it is bouncing off $9000 like a frucking trampoline. I fully expected a further test of $8000, maybe it's yet to come...
I'm not much of one for TA, but looks like we might be halfway through an inverse head and shoulders. Bullish!
I think $10,000 will be the new floor by the end of this month (maybe even week?) or end Jan at the latest.
\/\/\/
$9000
Boing boing boing...
You do realize today IS the end of the month, right?  Shit, it's not even December yet?   |
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What an awesome test of resistance at $9000.
We spent a total of only 8 days in the $8000-$9000 range, and only 5 days above $9000 and here it is bouncing off $9000 like a frucking trampoline. I fully expected a further test of $8000, maybe it's yet to come...
I'm not much of one for TA, but looks like we might be halfway through an inverse head and shoulders. Bullish!
I think $10,000 will be the new floor by the end of this month (maybe even week?) or end Jan at the latest.
\/\/\/
$9000
Boing boing boing...
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good news guys!
I have confirmed sources that we are going back up stronger than ever
Mmmmm, no. I have confirmed that your sources are not confirmed sources. mmmm, yes It's confirmed that you have no confirmation about that sources are not confirmed. Confirmed |
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The power of exponential rise:
If a bacteria doubles its surface area every day and completely covers a Petri dish in 30 days, on what day is the Petri dish half covered?
Answer:
Day 29
But Bitcoin has gone parabolic! Exponentially exponential.
This puppy will reach $25,000 sooner than most can believe.
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"I am pretty confident we are the new wealthy elite, gentlemen."
heh fun thread, that. wonder what folks will think of this thread if btc hits 50, 100 grand.. hey maybe this thread will still be going then This is clearly as high as bitcoin will ever get, basically. Maybe just a little bit higher because there are people who haven't realized this is a failed experiment, but that's it. 1 bitcoin will absolutely never be worth $50k. $100k? LOL, no. Proudhon. The ironic Colbert of Bitcoin. |
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Bitcoin's price has already spiked more than 1,000 percent in the past 12 months. Now it's flirting with another milestone: a $10,000 price for a single unit of the cryptocurrency. Bitcoin's rise has been both meteoric and volatile, with surges in valuation often being driven by positive reports about its status. Earlier this year, for instance, Japan recognized bitcoin as an official method of payment. It has also continued to attract interest from investors. In early October, a single bitcoin cost less than $5,000 on currency exchange sites. A year ago, one could be had for around $730. But as of 7 a.m. ET on Monday, the price for a bitcoin was $9,770, according to data from the Coinbase currency exchange. The digital currency slipped below $9,700 after reaching that mark; the analyst site Coindesk (which is affiliated with Coinbase) says it expects bitcoin to pass "the psychological milestone of $10,000 today," citing recent momentum. The price roared past $9,000 over the weekend. "Bitcoin's price has been helped in recent months by the announcement that the world's biggest derivatives exchange operator CME Group would start offering bitcoin futures," Reuters says. "The company said last week the futures would launch by the end of the year though no precise date had been set." Another factor has been the move to split the original bitcoin segment into two currencies: bitcoin classic and bitcoin cash. That change, which became official in August, has allowed large trades in the currency to occur more frequently, while also promising to bolster its infrastructure. When bitcoin surpassed $4,300 in August, the CryptoCoinsNews site declared a "flippening" was taking place, as bitcoin, with a market size of more than $70 billion, had gained "a greater total valuation than payment-processing behemoth PayPal." Citing the current rise, CryptoCoins says the total market capitalization of all cryptocurrencies — led by bitcoin and its rivals, ethereum and Ripple — has now topped $300 billion for the first time, making them more valuable than Bank of America, which has a market cap of around $280 billion. Investment analysts have often split on the issue of cryptocurrencies, citing their status as both an emerging technology and an emerging form of exchange and investment. CNBC quotes Bob Doll, chief equity strategist at Nuveen Asset Management, saying, "I confess it's an area that to me feels speculative, but you might call me old or old-fashioned. It's been an amazing run, has it not?" https://www.npr.org/sections/thetwo-way/2017/11/27/566707136/bitcoin-soars-toward-another-benchmark-10-000 |
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Bcash will get rekt followed by a BTC pump  Best news of the day. Shitcoins dumped by the exchange automatically. Should have been the case right from the beginning. Now if only Coinbase would follow suit come January... |
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Any thoughts on how high the next BCH rally will go? I'm thinking we might hit 0.8 temporarily, and then crash. I don't think we'll spike above 1.0 on the next wave. At this stage, I think anything over 0.4 is a good place to take profits.
 Just as an addendum to your work of art, I permit myself to note also the middle finger formation given by the initial bump in the chart. That's a dick if I've ever seen one. That just blew its load. Initial bump is the scrags. Nicely done. |
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Wow. Last few days have been like a hurricane. It's flying everywhere.
I decided to increase my BTC stash and bought in when it was around $7000.
Sold my BCH for BTC when it was aroudn $600.
Now I am confused. I will admit that I clearly do not understand what to do.
Should I hodl the BTC I bought @7000 or should I exchange it for an alt or BCH.
I need help.
Beautiful, just amazing how people lose their mind when they become greedy . Enjoy the dumpfest you deserve it I need help.
No one can help you except yourself ,just NEVER buy at the top.. NEVER I made lots of the best investments while buying exactly at the top. Buying Bitcoin at 50$ was at that time exactly that, the top. Buying Ethereum at 1$ was at that time exactly that, the top. And so on and on and on... Not buying at the top is basically the worst advice you can give someone in such a market as the cryptomarket. Hear! Hear! Always bet on winners. Might just have to wait a bit longer, but even those who bought and held at the Mt Gox top quintupled their value. well yeah... that is as long as they didn't actually have it at Gox when it shit the bed.... True that but that goes for ANY exchange. You don't own Bitcoin if you don't own your private keys. |
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Wow. Last few days have been like a hurricane. It's flying everywhere.
I decided to increase my BTC stash and bought in when it was around $7000.
Sold my BCH for BTC when it was aroudn $600.
Now I am confused. I will admit that I clearly do not understand what to do.
Should I hodl the BTC I bought @7000 or should I exchange it for an alt or BCH.
I need help.
Beautiful, just amazing how people lose their mind when they become greedy . Enjoy the dumpfest you deserve it I need help.
No one can help you except yourself ,just NEVER buy at the top.. NEVER I made lots of the best investments while buying exactly at the top. Buying Bitcoin at 50$ was at that time exactly that, the top. Buying Ethereum at 1$ was at that time exactly that, the top. And so on and on and on... Not buying at the top is basically the worst advice you can give someone in such a market as the cryptomarket. Hear! Hear! Always bet on winners. Might just have to wait a bit longer, but even those who bought and held at the Mt Gox top quintupled their value. |
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dmwardjr don't miscontrue what people are saying. Your analysis is much appreciated, but it would be better appreciated in a separate thread. As has been alluded to previously, this is and has been a thread dedicated to the analysis of Masterluc. So despite the ambiguous thread title, when people come here they are looking for analysis specifically from Luc. You'd better serve yourself and the community by starting a separating thread or contributing to a more general thread (Afrikoin's thread, for example, was mentioned; he welcomes analysis from all).
I could care less what you're saying. I've ALREADY given my thoughts. WHEN the title changes and/or Luc asks me to stop, I'll stop; Until then, ignore me. Such wasted effort. Rather than simply start your own thread and become your own rockstar, you hijack masterluc's devotee thread and wonder why the groupees dislike you? Great job getting overwhelmingly ignored.  |
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Bitcoin has been above $6000 a total of 17 days.
Above $7000 only 9 days.
This looks like a healthy correction establishing a new floor around $6500. Maybe even retest $6000.
I still think $10,000 by Jan 2018.
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Have any US citizens looked into a Charitable Remainder Trust for their BTC? I'm talking to a lawyer next week about setting one up. Seems like the best way to convert capital gains into income. Which, for me living overseas, I would rather have income which is not taxed than gains that are taxed.
Yes. You're basically trading your stash in for an annuity or similar. You can draw a yearly income off of it, but that income itself is still taxable (maybe not so much as an expat?). You're just avoiding cap gains, which might not be as bad as you think. Plus the trust has to be carefully managed to keep the IRS happy. If you trust in Bitcoin's longevity, you maintain far more control keeping it in Bitcoin, and if Bitcoin cap gains are your only source of income, the first $37.5K are tax free, $75k if you're married, and after that it's only 15%. So say you're married and draw off $150k in pure gains (plus some amount of principle, which might be negligible at this point). The effective tax would only be 7.5%. That's like sale's tax, big f-ing deal. Gifting Bitcoin also bypasses cap gains. The giftee's cost basis steps up to the date of the gift. Gift every member of your extended family and have them pay for the bulk of your needs. You can gift around $14k per year per person. The best reason I can see for a charitable remainder trust is if you've totally lost faith in Bitcoin and want to ditch your whole stash pronto for lambos, property, securities, or fiat. Maybe it makes sense to do it for just the part you want to convert, but keep the bulk in Bitcoin until needed. Really depends on your circumstances and faith in Bitcoin. https://www.estateplanning.com/Understanding-Charitable-Remainder-Trusts/https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx |
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Bitcoin ATH Theme Song of the Day https://youtu.be/KFPI9b9N6CQHappy Halloween! Well any time, any place, anywhere that I go
All the people seem to stop and stare
They say "why are you dressed like it's Halloween?
You look so absurd, you look so obscene"
Oh, why can't I live a life for me?
Why should I take the abuse that's served?
Why can't they see they're just like me
It's the same, it's the same in the whole wide world
Well I let their teeny minds think
That they're dealing with someone who is over the brink
And I dress this way just to keep them at bay
'Cause Halloween is everyday
It's everyday |
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Bitcoin is no stranger to doubling quickly. The floor-to-floor doubling from $1280 to $2560 took 13 weeks. From $2560 to $5120 took only 11 weeks (assuming $5120 holds). At this rate, we are are on track for a $10,000 New Year's. The last 11 Bitcoin doublings, from $2.50 to $5,120:  |
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