A point that most people forget about bitcoin is the international transaction use. There's a great volume of money being transferred from immigrants to their relatives consistently and solely on bitcoin. Why? because it's easy - safe - fast and doesn't cost a penny. Many people out there saw a relief from the ''usual'' money transfer tactics when bitcoin surfaced, plus the significant fact that when they were illegal immigrants, they usually had to pay more for their anonymity.

Bitcoin will still be a risky investment, with no backing assets and paying no dividends, whose value is entirely dependent on the expectation of future expectations of investors.

It depends on what the price is at the time of halving. Since price would be up, it might just be profitable.

them not appreciating its potential was probably the best they could have done because it has none. Tell the icelanders to buy Bitcoin, Litecoin, Doge ...

This one is a premine-scam and there can be nothing done about it.



LOL


and i am Michael Jackson. Ask me anything.

Nice 1st post.

Welcome.

Payment in bitcoin is illegal in China. Chinese may not use bitcoin to pay for MS products.

lol ...bill gates must be a big fan 

The States of the USA and the municipalities of Germany for example, by law can not print.

Europe is adopting a combination of austerity and monetary easing.

The plan is to confiscate all the pensions and savings to fund the socialism. This is massively deflationary.

Sorry the hyperinflation nonsense is so old. Haven't you guys caught up in your learning process by now? You are where I was at in 2006 in my understanding.

Gold and Bitcoin will go up because of a flight to private assets to escape confiscation, not because of monetary easing. But in the end game none of these will escape taxation. Maybe Gold will if you never sell it again for fiat, you can polish it daily for your ROI. Cash black markets will disappear because the new fiats will be all electronic. Electronic real-estate ownership databases will be created. The socialism will track down every asset.

There is no anonymity. The socialism is in control. Taxes will increase. Confiscation will increase. Down the abyss we go.

... the question with all this printing is where is the inflation?

It is in the cash assets of the top 1%. They held a lot of debt products that became worthless or went bad and then they got bailed out, in fact still are getting bailed out and then some. All those bad debts were monetised, i.e. swapped for fiat cash, net result being a huge misallocation of capital into incompetent hands, hyper-financialisation of the economy and an accelerating wealth disparity. Nothing at all to help economic performance, free market incentives, savings or productive enterprises.

When a little more than 10% of the top 1% lose confidence in their now huge fiat cash holdings it will be the end of the CONfidence game, the 'bank' run will be on.

Iceland’s plan to impose an exit tax as part of removing capital controls anticipates all bank assets will be subject to levy, regardless of whether assets are held in ISK or FX, Morgunbladid reports without saying how it obtained the information.

Global economy is collapsing. After Oct. 2015, this will accelerate. There is an excess of supply in everything. Massive deflation on the way.

can we have a special moment of silence for MTGOX and my bitcoins that are lost forever



I'm always amazed by how fast we all just turned our heads from that debacle... there is no question in my mind this market HAS HAD TO FEEL THE IMPACT of MTGox, and we are feeling it... this will last a considerable amount of time.. you cant just compare 2009 / 2010 to today without taking a look at that and realising there will be an ongoing intangible impact when comparing today's data to historical data etc...

fucking Mark Karpelese!

Don't be silly. The small amount of assets that central banks have is nothing compared to the fiat they print. Most assets in central banks are leveraged at 30-40:1 (and usually by shitty assets), and the leverages are going up little by little.

Hey guys I'm assuming the role of baldur if you have any questions about Auroracoin feel free to ask me here and make sure to check out all the latest news regarding Iceland and its crypto currency here @ www.aurorapr.co.vu

Some time ago, I've had a flashback to 2011. The next and final stage of the bear market began when difficulty began to decrease.

I have to say, I wouldn't have expected a difficulty decrease with ASICs, though the one we have is so minor it could be attributed to a stagnating network and randomness of hashes with the same machines. It should be impossible for difficulty to decline as much as with GPUs because ASICs can only do the one task, and they will be sold to whoever has cheapest energy.

atypical bottom forming?
back over 400 soon?
to the moon?

up, Up, or UP! ...I need answers poeple....

Wow, what a  great read.  

Let us briefly ponder the mathematics of this wipe-out: when the market was down by 90%, it fell by another 50% at which point it was down 95% from the high. Thereafter, it fell by another 50%, ending down 97.5% from the high. Then it fell by another 50%, at which point it was down 98.75% from the high. Then it fell by 50% again and was down 99.375%. Surely this was bad enough? Nope…it then fell by yet another 50%, landing at 99.6875% down from its 2007 high. Unfortunately, the low was still not quite in yet at that juncture.

It probably will not pass this year as it is a far from urgent bill in a lame duck congress. It looks like it is currently in committee now and will probably pass at least the house eventually in some form as it reduces regulations which the GOP (who controls the house) is in favor of.

One thing the bill is missing is a reversal of the IRS's ruling to treat bitcoin as property instead of currency as this makes keeping track of the value of your bitcoin when you buy and sell it very burdensome whenever a consumer tries to use/spend it

SEC. 5. DECLARATION OF NEUTRAL TAX TREATMENT.

    (a) In General.--It is the sense of Congress that the production,
possession or use of cryptocurrency, whether in trade, commerce or
personal non-commercial transfers, should not be disfavored or
discouraged by the Federal tax code or other Federal or State statute
or regulation.
    (b) Tax Treatment.--It is the sense of Congress that the current
guidance just promulgated and released by the Service in its Notice
2014-21 is advisory, subject to public comment and not in final form
pending the expiration of the comment period. As such, Congress
believes that the current guidance is less than optimal for the
American people and economy, and directs the Service to issue or revise
interim regulations consistent with the following.
    (c) Treatment as Currency.--It is the sense of Congress that
virtual currencies should be treated as currency instead of property in
order to foster an equitable tax treatment and prevent a tax treatment
that would discourage the use of any cryptocurrency. Tax treatment of
cryptocurrency as property does not account for the substantial
illiquidity and highly limited acceptance and use of cryptocurrency,
and substantially and unfairly discourages taxpayers engaging in a
trade or business from using cryptocurrency in commerce. This
circumstance is likely to discourage economic activity and stifle
innovation and growth. At present, a taxpayer accepting cryptocurrency
for goods or services will be taxed on the fair market value of the
cryptocurrency despite the fact that exchange rates (from
cryptocurrency to conventional currency) are both highly volatile and
published or available only on a small number of proto-exchanges in the
early stages of development, acceptance and awareness by cryptocurrency
users. As a result, current tax treatment will measure income on the
basis of an illiquid and likely inaccurate fair market value that
exceeds the taxpayer's true fair market value and hence income,
resulting in the risk of a consistent overtaxation or overpayment that
will act as a strong deterrent to or penalty for accepting
cryptocurrency in payment. Such tax treatment is inconsistent with the
tax treatment of secured notes for payment in trade or commerce, which
recognizes a discount from the face value of the note due to the
illiquid nature of the payment. (Note: See IRS Pub. 525 at 4.)

And that link to gold statement shows that he is not there yet.