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why is it always about ghash - go beat up on BTC guild to cut the 3% fee to something vaguely reasonable. Then maybe miners will stop pointing at ghash
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Have a look at megamine.com - they offer a 1yr contract for 1Thash (including hosting and power) at $4,200.
This is a lot cheaper than CEX.io
CEX.IO for comparison is 7.39 BTC (approx.$4,700) + $260 a month , so a total annual cost of $7,800
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OK wise bitcoiners who think you "understand the math", do you know why the mining problem is hard? Or that it is hard to sign a transaction without knowing the private key?
why don't you enlighten us as to why it isn't? |
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The Euro is proving to be a more deflationary currency that Bitcoin at the moment  |
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quick post a story from 26th May, no one will notice. |
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when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol
in the u.s., hold everything in a roth vehicle. requires foresight. Looks like he's in the UK (hello...) As far as I can tell, you're taxed on income at the exchange rate at the time of earning. Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the Ģ10k allowance of course. There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet. In the UK it depends how you receive them - if you are mining, or receive them for selling a service, then you are taxed on them as income at the price they were at when you received them. (note if you are a corporate or self employed you can offset allowable business expenses - price of ASIC , electricity, hosting cost etc) also I do not think they attract VAT anymore - that was reversed I think. If you do not sell them immediatley but then sell them in the future at a different price then you pay capital gains tax on the change in value (or get a tax credit if the price has fallen) EDIT note if you are VAT registered you can reclaim the VAT you paid buying the miner. If you buy them and sell them (ie trade) then you are liable for capital gains tax on the profits @ 18 or 28%, depending if you are a basic or higher rate taxpayer. |
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What happens when Paypal accepts Bitcoin ?
People who don't use credit cards will be able to add funds to their Paypal accounts in less than a banking week. This will lead to increased Ebay purchases and hence increased profits for Ebay and its subsidiary Paypal. They'd be crazy not to accept Bircoin. and don't forget fees for using bitcoin on paypal should be cheaper - so both the seller and buyer should be incentivised to use it rather than their credit cards. |
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Obviously it will lead to more people selling bitcoin for fiat which will drive the price downwards won't it?  |
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There are several banks around the world who are terminating accounts owned by American citizens due to attempted invasive requirements of the American government. It's getting to be quite a problem apparently and the amount of people renouncing American citizenship is spiking.  is it a bubble or a trend ? If we extrapolate this then pretty soon there will be no Americans left. |
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ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.
+1, did we just witness for one of the first time a macro-related move  Yeah ! a major newssite called it the end of capitalism as we know it. That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course. i donīt think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ? Wealth Taxes and Savings Sequestration |
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The brilliant thing about being a government is you get to change the law - don't rely on your "rights" to protect you if it comes to asset seizure. Ask a Cypriot.
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ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.
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Agree with above poster, but capitalism encourages greed.
Any system that unshackles restraints on how much a person can acquire in this life promotes greed. As it would turn out, capitalism so far has been best at it. This is the core issue where morality, economics, and politics meet. How does a country balance out that "greed" vs need for the betterment of as many of its people as it can? Communism and fascism tried and were found to be very lacking. and no one has quoted Gecko yet? Greed -- for lack of a better word -- is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms -- greed for life, for money, for love, knowledge -- has marked the upward surge of mankind. |
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But it still doesn't make sense.
Why do a market order and deal with slippage? When he could just make a wall at 675?
Bitcoin traders are not known as the smartest people around. Basically most of them have no idea what they are doing. For most it goes like this: omg everyone is selling, i need to sell now! Omg everyone is buying, i need to buy now! to be fair major financial markets are no different |
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Wow nice stuff happening! Are we experiencing some new graph shape called "stairway to heaven"? It certainly looks like one   is that the down escalator? Lets see if we can consolidate over $600 for a little while. |
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