well i can't really find figures on that, but since it's Jennifer Calvery (Director at Dept of the Treasury/Financial Crimes Enforcement Network) who made that statement, it has to account for something, why would she make that up?
And if it was a lie, why did no one on the meeting pick up on it?
She did say they made $245 trillion in wire transfers. She was saying that is how much money was transferred, not that they made a profit of that much (or even charged that much). I don't know if those figures are true, nor do I remember her saying a time period. |
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I think it's because the last month convinced people that nothing can stop bitcoin from hitting the moon  I mean the main debate before the china crash was if bitcoin will reach 100k or 1m$ . It's not easy to sell after that  Great so please concentrate with me: Suppose you start off with 10 Bitcoins, market price is 1,200$ > China announcement is live > You sell your 10 Bitcoins at 1,200$ each and you pay 120$ transaction fee (1% of total), and end up with: (1200 x 10) - 120 = 11,880$ > 2 Days later price of Bitcoin seems to stabilize at 700$ > With the 11,880$ you made selling your initial Bitcoin, you buy back Bitcoins at 700$ each. So now you'll have 11,880/700 = 16.97 Bitcoins Remove 1% transaction fees and you'll get 16.8 Bitcoins WOW! Magic! Guess what, you're 68% wealthier than 2 days ago.... So now couple of years down the line, you'll have 16.8 million dollars worth of Bitcoins instead of only 10 million dollars.... Capich? Obviously if you can time the market then that works, but it has been demonstrated all over the world that market timing is a suckers bet, and no one can do it reliably, repeatedly. |
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It's extremely painful to read yahoo user comments.
I just did and you are right. It is amazing how poorly informed people are and yet still will make comments like that. There was one there talking about how it had no "transparency." It is mind boggling. [Of course given the subject format in many of the posts in this section when there is a clear example at the top of the page someone might say the same thing about it....] |
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Who are the "Winkelvass" twins?
I believe he is referring to these guys: http://en.wikipedia.org/wiki/Winklevoss_twins. They are known to have splurged quite a lot on buying some BTC back when it was at around the ~$100 mark I think from memory, although you may want to check some older news articles for the exact time and figures. I'm not sure if their intention is to cash out big or wait for the time being hoping for widespread adoption.. I know who the Winklevoss twins are, not the Win kelv ass. People tend to miss sarcasm. :-) Like the "your fine" message up thread: what, so this person was fined for something?  |
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Hi, It is definitely possible, look at Cyprus. :-) They say it is one-off, but the article also says that only gets us to 2008 debt levels. So, if they can pull it off once, it will happen again, it will just be a question of when then.. :-) I wonder if this is even possible.I also wonder if all my money in the bank will be gone in the UK thanks to the tax or just a portion of it?I heard that it's a one off tax from the article so hopefully they won't be too difficult.
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There is a lot of good advice here. In sum:
1. Don't trust anyone random here
2. Learn about cold storage, offline wallets etc
3. Spread the coins among different addresses
4. Spread the purchases across different exchanges.
Also, be sure you want to do this. It could be risky.
:-)
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One thing to consider is the Second Market fund instead of buying directly. They are well known, and not scammers. Sounds like you'd qualify as an accredited investor with that cash and income, but perhaps not.
Whatever you do, at least use an exchange vs a random person here.
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ZeroHedge: Greenspan Baffled Over Bitcoin 'Bubble': "To Be Worth Something, It Must Be Backed By Something" In order for currencies to be 'exchangeable' they have to be backed by something ... when we were on the gold standard, [currencies] had intrinisc value which made people willing to exchange their goods and services with no question. ... Alternatively, when we went into "currencies", it was the "backing" of the issuer of the currencies... whose "great credit-standing meant his checks could circulate as money.
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I do not understand where the backing of Bitcoin is coming from. There is no fundamental means of "repaying' it by any means that is universally accepted.
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I haven't been able to identfy the intrinsic value of Bitcoin - maybe someone else can...but if you ask me if this is a bubble in bitcoin... yeah it's a bubble.
when asked about the "bubble in bitcoin," by Bloomberg TV's Trish Regan. Alan Greenspan was former head of the US Federal Reserve. He is clearly not up to speed on bitcoin. EDIT: Link to video: http://www.bloomberg.com/video/greenspan-on-bitcoin-i-guess-it-s-a-bubble-Mu~7aDC9Q8i_b0hSa4i6XA.html |
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China just banned bitcoin and we are getting up ? I think this is a massive bull trap and we gonna crash to 0. I'm selling 37btc tight now.
Really? Why just panic without reading what was said?? |
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They are right if it is the Time's circulation numbers and influence. |
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I don't think they've thought this through. This could lead to a disastrous exodus from the banks (well disastrous for the banks anyway) as people fled savings accounts.
You are right, but I don't think they care. Their redistributionist policies are running out of time and victims. They've destroyed the euro, the dollar and other currencies and are killing the productive members of society. What is left? And to make it worse, this only puts them back to 2008 levels, it solves nothing. |
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There's no way that would happen without extreme riotting...
Look at what happened in Cyprus earlier this year. Lots of complaints, lots of people unhappy, lots of protests, but it still happened. Zeroday on these forums lots ~700k euros. These trial balloons are the warnings of what the socialist parasitic politicians want to do. |
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And now the IMF is floating a similar idea worldwide, more is here: https://bitcointalk.org/index.php?topic=357073.0But this is the important paragraph. Cyprus style confiscation, coming to your account, around the world: As applied to the euro zone, the IMF claims that a 10% levy on households' positive net worth would bring public debt levels back to pre-financial crisis levels. Such a tax sounds crazy, but recall what happened in euro-zone country Cyprus this year: Holders of bank accounts larger than 100,000 euros had to incur losses of up to 100% on their savings above that threshold, in order to "bail-in" the bankrupt Mediterranean state. Japanese households, sitting on one of the world's largest pools of savings, have particular reason to worry about their assets: At 240% of GDP, their country's public debt ratio is more than twice that of Cyprus when it defaulted . |
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Ideas like a global wealth tax - kind of like the bail-in, in Cyprus, are being floated by the IMF. This type of news should only be a boon for bitcoin as people find out about it and consider the implications. The article is not an approving one, by the way. The Coming Global Wealth Tax - WSJ: http://online.wsj.com/news/articles/SB10001424052702304355104579232480552517224?mod=WSJ_hpp_sections_opinionBetween ObamaCare, Iran and last quarter's uptick in U.S. economic growth, taxpayers these days may be distracted from several dangers to come. But households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash.
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Of course these measures won't return the world's top economies to sustainable levels of debt. That could be achieved only through significant economic growth (the good way) or, as the IMF puts it, "by repudiating public debt or inflating it away" (the bad way). In October the IMF floated a bold idea that didn't get the attention it deserved: lowering sovereign debt levels through a one-off tax on private wealth.
As applied to the euro zone, the IMF claims that a 10% levy on households' positive net worth would bring public debt levels back to pre-financial crisis levels. Such a tax sounds crazy, but recall what happened in euro-zone country Cyprus this year: Holders of bank accounts larger than 100,000 euros had to incur losses of up to 100% on their savings above that threshold, in order to "bail-in" the bankrupt Mediterranean state. Japanese households, sitting on one of the world's largest pools of savings, have particular reason to worry about their assets: At 240% of GDP, their country's public debt ratio is more than twice that of Cyprus when it defaulted.
From New York to London, Paris and beyond, powerful economic players are deciding that with an ever-deteriorating global fiscal outlook, conventional levels and methods of taxation will no longer suffice. That makes weapons of mass wealth destruction—such as the IMF's one-off capital levy, Cyprus's bank deposit confiscation, or outright sovereign defaults—likelier by the day.
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Yes I agree its too early to consolidate lost coins Can it actually be done even if we wanted to? ( 10 -15yrs seems reasonable ..if ever it can be done) but the issue can be discussed with potential solutions
Merely using a different word does not change the nature of what is being suggested. "Consolidate" usually does not mean "stealing from some people who have not used property during the time period you want them to and giving them to yourself or others." Hiding behind euphemisms does not help an honest discussion. :-) |
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There has to be a selling spree sometime. There are too many skeptics in this world I think at 2k, everyone will sell, and BTC would be ~500 maximum. ...each currency has its Great Depressions.  This same thing has been said since dollar parity and some people sell, some just keep using it to buy and some hold. I might sell one or two at the 98,500 figure, but not trade it for a currency that is losing value each year due to inflation.  |
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Perhaps at or near the year 2140? :-) Of course, there are several components here: 1. Bitcoin - the protocol 2. Bitcoin - the Satoshi client. - other clients and other projects using the block chain. If you are talking about the Satoshi reference client, I don't think anyone knows when they'll transition out of beta. What are the requirements for this particular project to move forward to release candidate or production? Are there any technical milestones that need to be fulfilled?
I don't think it depends on a certain market value, but don't know what it really depends on.
Funny thing is that Live Release version of software sometimes is reffered to as "Gold" or "Golden", so surpassing an oz. of gold in value will probably make sense to a lot of us.
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easy on the woman bashing.
ps - if she married him for his money, be probably married her for her t&a. risky move; you'll probably get burned
The same goes for cheating guys too - you make a commitment, you keep it. The statements were specific to this fact pattern. As far as the money goes, the stats here were that it was around 95-98% that it was the guy paying. :-) Anyone who gets married without a prenup is taking a risk that while your spouse claims it is forever, that they'll change their mind and you will end up paying their bills - and supporting their new lover. |
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You guys have some crazy laws in your part of the planet. The United States is a bad country to be married in. Very bad. Always use a prenup - if her motives are pure, she won't object. If they are impure, it tells you something important before marriage. It isn't only the US either |
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Excellent illustration. Terrible for the world, but illustrative.
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