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any big news event about bitcoin is a self-fulfilling prophecy.. people with just bask in the good news and invest more.
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You can just take some off the table and diversify into stocks or something. Rare earths or 3d printing are some interesting alternatives.
“Diversification is protection against ignorance. It makes little sense if you know what you are doing.” ― Warren Buffett even if you are know what you are doing, nothing is guaranteed. you could end up losing your entire savings. if you are a professional investor, i guess the case would be different (ie: warren buffet). |
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Actually, after thinking about it again, you may have a claim. I was just thinking about how I purchased some sunglasses, a fake rolex (as a gag gift) and a chainsaw off of the Silk Road, nothing illegal there. The argument that it is an illegal marketplace kind of reminds me of a flea market. You can find drugs and stolen goods at a flea market, however you don't have your money confiscated for shopping there, I guess unless you are partaking in knowingly buying stolen goods or drugs.
The question is, if you can prove you didn't use the SilkRoad for nefarious purposes, would you be able to get your coins back?
....
I don't even think that's correct. That's presumption of guilt and no due process. yeah i don't know how one would be able to prove that they were not using SR for illegal activity. even if you bought something legal, that does not prove your innocence. |
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you can do a little research before seeking help. i just looked up some info here http://www.bankrate.com/finance/money-guides/capital-gains-tax-rates-1.aspxcapital gains taxes apply if your taxable income is less than $35k (single) or $70k (joint).. otherwise, you don't have to pay them. so if you don't make that much money, you can buy/sell as you like.. so long as your total income does not exceed $35k. you also need to own the asset for more than 1 year before selling it, so no day trading. I'm trying to actually get through this, how does it work if 100% of my income was capital gains? Say I bought for negligible amounts of $ back in 2010, and cashed out $100K this year. Is it 0% on all of it, 0% on the first $35k, 15% on the rest, or 15% on all of it? i wouldn't know for sure, i'm not an expert on taxes... but i believe it is 0% tax on the first $35,000 and 20% for anything after that. so your effective tax capital gains tax rate would be 20% of $65,000. it's no longer 15% btw. It's still 15% it's not. http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_StatesThe American Taxpayer Relief Act of 2012 (signed on January 2, 2013) made qualified dividends a permanent part of the tax code but added a 20% rate on income in the new highest 39.6% tax bracket. As a result:
The long-term capital gains tax rate is 20% (0% for taxpayers in the 10% and 15% tax brackets). |
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so if he cashes out his BTC, that would be double taxation wouldn't it? it would be on income, and then whatever capital gains he realizes.
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I have 548 posts.
Almost 100 posts!  How can some people make 1200 quality posts? Seems like a lot of work just making 100! I believe 1200 in a month is very hard work I can do very hardly 150 to 200 in a month  tell me about it. i don't think i'll break 400 next month.. so far this month, i'm over 100, so i'm on schedule to hit the 1200 mark. i plan to do an extra 100 posts just to make sure. at this point though, i really really don't feel like posting anymore |
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If something becomes very popular those who are wealthy are buying it up and you won't hear about it - and dump it when it's getting very expensive - followed by a large amount of paid media articles to get fools to sell after them so they can rebuy at low rates just to repeat the cycle.
yeah, i think our recent crash was propagated by chinese officials, who colluded with baidu. they probably just dumped their BTC and re-bought when it dipped really low. |
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they could at worst crash the price of BTC and make it more difficult for exchanges to exist. i don't think bitcoin will really take off without exchanges, as there needs to be liquidity in the market. they could also enforce strict tax laws and punish those who do not follow it.
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Bitcoins.com = Mark Karpelès (Tokyo) on 3/30/2000 (double wow)
WOW!!!!!!!!!!!!!!!!! Original bitcoins.com domain was registered by aanother individual, for project not related to "our" Bitcoin. Karpeles bought it later from him. says the random hero member who may be covering for the identities of his friends  No need to cover anyone (I'm clueless also), but I find this kind of search rather obnoxious. it's pretty pointless. given the technical prowess of the inventor, these are probably all clues he intended for us to find. why would he keep himself anonymous then? you mean he intended to set people on a goose hunt to find out his identity? |
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if the price on mtgox is about the same as bitstamp, wouldn't it be a better idea to transfer your BTC account to bitstamp, coinbase, or any other exchange, and then cash to fiat?
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don't sell your bitcoins while price is falling, and don't sell while the price is rising.. then when to sell?
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my car is about to die.. i don't have a lot of fiat to make the repairs either. really sucks if i have to drop $2k to fix it. to make matters worse, im quitting my job at the end of the month.
I'm assuming you are still quite young. I'm in my 50's. Thirty years ago I was in the same boat, driving a junk vehicle that sometimes barely got me back to my one room apartment at night, working my buttocks off for peanuts. One day, believe it or not, you will be looking back at these times with fondness. i'm youngish, but not that young. i need to find a better career. i'm starting the process now. all i know is i don't want to work for the man. |
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I guess I'd take the one million dollars, with the remaining 8 bitcoins I'd get Persuasion and use that(in conjunction with the million dollars) to get more Bitcoins, allowing me to buy any and all of the powers, becoming a god.
if you could time travel, you'd pretty much have unlimited money. maybe i'd take persuasion and teleportation. if you could persuade anyone, you could create the world in the way you see fit. and if you can teleport, there's no waiting time |
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my car is about to die.. i don't have a lot of fiat to make the repairs either. really sucks if i have to drop $2k to fix it. to make matters worse, im quitting my job at the end of the month.
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interesting thread. is there any evidence that mark knew DPR personally? they seem to know each other.
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as far as public infrastructure, i think private companies will create roads.. but then you'd have toll roads everywhere. and since men are not created equal, one guy might climb to the top of the ladder and own all the roads. what happens then, when he charges you exorbitant fees?
I've already pointed out why there wouldn't be toll roads everywhere. In fact, out of all the business models available for roads it seems like the worst one available to me. But then I am looking at it from a business standpoint. Not a position where I'm freaking out about the possibility of "no govt, no roads". If you have a road you want to encourage throughput on it. Otherwise, what's the point? im curious as to how that would work? how would roads be created then, if no one owned them? who'd put the money out to get them built? if businesses pooled their money together to build roads, they would start complaining if someone who did not use any of their services or goods used the roads.. because that'd be freeloading.
Like the way that shopping centres which maintain the roads and parking spaces in their car park complain about freeloaders, you mean? It doesn't matter to them because the costs of maintaining them are so small compared to the profits they make. They don't want to scare away potential future customers by complaining about the "freeloaders". i didn't read why you think toll roads wouldn't be everywhere. and also, who builds the highways between towns/cities? the businesses too? so the amount they want to contribute is voluntary? someone's going to feel like a party is not paying their fair share, and there would be dischord. how would that get settled? i don't get how you got to the "costs are so small compared to the profits they make." road maintenance is probably not cheap. ancient tribal groups were anarchistic, and they killed/dominated each other until there was one ruler. great nations came as a result. |
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as far as public infrastructure, i think private companies will create roads.. but then you'd have toll roads everywhere. and since men are not created equal, one guy might climb to the top of the ladder and own all the roads. what happens then, when he charges you exorbitant fees?
That's a terrible business model  Nobody would drive if you charged to drive on them, and then how would businesses get consumers? The point of roads is to lead to business, not to charge for the privilege. well how else would the people who create the roads make money? as far as public infrastructure, i think private companies will create roads.. but then you'd have toll roads everywhere. and since men are not created equal, one guy might climb to the top of the ladder and own all the roads. what happens then, when he charges you exorbitant fees?
I'm not suggesting an American libertarian, or anarcho-capitalist system here. The examples I gave were of real anarchic movements, that is, without hierarchy. Infrastructure was still created and maintained, without the need of anyone in particular owning it. im curious as to how that would work? how would roads be created then, if no one owned them? who'd put the money out to get them built? if businesses pooled their money together to build roads, they would start complaining if someone who did not use any of their services or goods used the roads.. because that'd be freeloading. |
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as far as public infrastructure, i think private companies will create roads.. but then you'd have toll roads everywhere. and since men are not created equal, one guy might climb to the top of the ladder and own all the roads. what happens then, when he charges you exorbitant fees?
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i guess you agree with me then, because i think if 1 country were to go anarchistic (and they are surrounded by state-run governments), an external force (neighboring country) would come in and invade them.. which has happened in the past. i don't think just arming every man and woman with a gun is going to get the job done.
Well, I suppose it depends on the situation. Sorry in advance for the following scenario, I know it will be offensive, but sadly it seems to me to be how things work: If we're talking about a third world country most people never heard about and have nearly no contact with, that were to try this, I suppose external forces would have an easy time directing the propaganda to paint them as a target, for whatever reason. And unfortunately, some people would probably protest against it, but to no avail. Now imagine a relatively rich country were to try this, say Iceland. I have a hard time imagining propaganda would work so well in this case, particularly if the transition to anarchy was a relatively peaceful one to begin with. Then again, this may be a little overly optimistic. that's a valid point. but if your end goal is to have all nations (especially the western/developed ones), then that really shuffles the cards. i really do think that smaller groups vying for power would form, and the rules we know today (whether they are good or bad) probably won't exist... even if you are a well developed country. if iceland were the only ones to turn to anarchy, i think they would be fine. i think it would actually be a pretty cool idea.. an experiment, if you will. a lot of libertarians, i'd assume, would move there to live. |
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It is not too late.
Send Dennis Rodman.
Hahaha this made me laugh but sorry it was in North Korea! no matter. the only friend that north korea has is china.. there are diplomatic ties between the two. dennis rodman can save us. |
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