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This is NOT a scam. I got NOTHING back which is what i EXPECTED! Expected results = not a scam.
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So basically it is not worth it.
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How much does 1.00 BitCoin in Satoshi Dice stock earn & how often?
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LOL!  I LOVE watching Satoshi Dice bets and watching all these gambling degenerates lose money: CONFIRMED 352.00000000 LOSE 1.76000000 39636
CONFIRMED 176.00000000 LOSE 0.88000000 52450
CONFIRMED 88.00000000 LOSE 0.44000000 32596
CONFIRMED 44.00000000 LOSE 0.22000000 59326
CONFIRMED 22.00000000 LOSE 0.11000000 43034
CONFIRMED 22.00000000 LOSE 0.11000000 51134 Idiots! Doubling your bet on a loss on a 50% winning chance is the dumbest thing you can do. I don't undestand gamblers! You think you can win  Maybe in the short term, maybe, in the long run NO! You will bet more and more, get more addicted, play bigger, and eventually lose. Where can I buy Satoshi Stock??
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Today has proved, that even when price drops like $15 panic selling is not as true as many think.  |
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Trojan, you have 1 post and -5 trust feedback. The hell?
Anyway, it will be interesting to see where btc goes from here...
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"Only way to make money in a casino is to own one."
Congrats!
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Now down to $115, I can see CoinBase stopping sales claiming they are "high risk transactions". Price down another $-8 since I made this post! (-$15 for the day).
What I am saying is that if the ball gets rolling there will be no stopping its decline!!
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I am just going to call the IRS and ask...
Service, Telephone number, Hours of operation. IRS Tax Help Line for Individuals, (800) 829-1040
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I'm pissed off because someone pulled the Charge back scam on me today. And Ebay/Paypal always side with the Scammers no matter how much proof you have. It was PayPal's policy to not act as a currency exchange service even before BitCoin came around. This is not a new policy.The odd part is why eBay is still allowing the sale of BitCoin when it is against PayPal's policy. They could easily restrict the sale on the auction site.They are the same company. |
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So if you and Joe Schmoe from down the road exchange $2000 for 20 btc, both of you are required to be registered as MSB? Well then, who would technically have to register, ir not both? Someone technically would have to! That is the question. |
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Down another $2, let the panic selling begin! Shit!
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Hours? It has crashed in minutes in the past.  |
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If you sell $30000 worth of Euros and have the money deposited in your account, do you have to register as a MSB? If you sell $30000 worth of gold and have the money deposited in your account, do you have to register as a MSB?
Well, since I would have had to purchase the Euro's or Gold from somewhere with $USD, then exchange them back TO $USD, I am not sure how that is not acting as a money exchanger? Paying $USD for BitCoin -> Holding onto BitCoin -> Finding Buyers -> Selling BitCoin $USD Looks like a typical 'exchanger' to me. |
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Coinbase has to be registered as money transmitter in this case, not you. I'm not sure that is correct... http://www.fincen.gov/financial_institutions/msb/definitions/msb.htmlMoney Services Business - The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities:
(1) Currency dealer or exchanger.
(2) Check casher.
(3) Issuer of traveler's checks, money orders or stored value.
(4) Seller or redeemer of traveler's checks, money orders or stored value.
(5) Money transmitter.
(6) U.S. Postal Service.
An activity threshold of greater than $1,000 per person per day in one or more transactions applies to the definitions of: currency dealer or exchanger; check casher; issuer of traveler's checks, money orders or stored value; and seller or redeemer of travelers' checks, money orders or stored value. The threshold applies separately to each activity -- if the threshold is not met for the specific activity, the person engaged in that activity is not an MSB on the basis of that activity.
No activity threshold applies to the definition of money transmitter. Thus, a person who engages as a business in the transfer of funds is an MSB as a money transmitter, regardless of the amount of money transmission activity.
Notwithstanding the previous discussion, the term "money services business" does not include:
A bank, as that term is defined in 31 CFR 1010.100(d) (formerly 31 CFR 103.11(c)), or
A person registered with, and regulated or examined by, the Securities and Exchange Commission or the Commodity Futures Trading Commission.
For the complete regulatory definition of "money services business", see 31 CFR 1010.100(ff) (formerly 31 CFR 103.11(uu)).
Note: Each money services business (MSB) is a financial institution. For the regulatory definition of "financial institution," see 31 CFR 1010.100(t) (formerly 31 CFR 103.11(n)). Or does this only apply to the exchanges? |
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but afterwards panicked speculators drove the price down to $120
I just realized...BitCoin has no "stop limits" to prevent panic selling.... The price could seriously crash HARD to NOTHING in a matter of days...maybe even hours... Unlikely, but not like it hasn't happened before! |
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Consider this scenario:
You have about 250 BitCoin and you want to sell on CoinBase or where ever. You sell all the coins and cash out @ current market value of $36,660. Everything goes fine, you report the income on your taxes, but then you are the unlucky 1.2% that gets audited. The IRS sees that you reported the income which is great!, but that you are not registered as a "Money Service / Transmitter Business". Do you have to be registered? Is this a FiCEN requirement for selling BitCoin? Does this only apply if you are running a "business"?
I wish that this statement applied to me, but I only have 1.5 BitCoin. I know A LOT of people selling like this and read about it all the time.
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Someone selling 20k+ coins at once, we don't know why.
Maybe he couldn't buy the villa with Bitcoins yet. Wow, that is millions of dollars. Wonder who would be the medium for exchange for such a large transaction! If this is the reason, I see it being only a temporary drop in price?
I do think that it might cause some slight panic selling however! I would bet on the price dropping even more now...  |
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What was the catalyst for the recent drop in price, about $8 in 12 hours? |
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You can't buy nukes or slaves on Silkroad, it's home of counterfeit/stolen items and drugs... You are then sadly mistaken. My original question still stands and this could seriously impact people: Does the past block chain history of your coins affect you if BitCoins are traded and you happened to have some which were used in some big event, illegal activty, etc. |
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