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241  Bitcoin / Bitcoin Discussion / Re: Why 21 Million? Won't that defeat the purpose & STOP Universal Acceptance on: April 15, 2014, 05:26:33 AM
Why are people who don't understand math allowed to post anywhere besides the Beginners forum?
242  Bitcoin / Bitcoin Discussion / Re: Damn you Amazon, you'll come round soon enough on: April 14, 2014, 07:39:32 PM
Sounds like they would like to hear from customers that we want them to accept it. Let's do it! Buy Amazon gift cards with Bitcoin (and save 3% at Gyft) and let Amazon know that's how you got the gift card!
243  Economy / Speculation / Re: this is why big Wallstreet money will NOT be coming in soon on: April 14, 2014, 03:47:58 AM
I think "mental midget" pretty much sums up the OP.
244  Bitcoin / Bitcoin Discussion / Re: Your Bitcoin storage solution? "Share It!" on: April 14, 2014, 03:14:49 AM
Here is my cold storage procedure - fairly solid as near as I can tell...

Creating and loading the wallet -

1) Save to your hard drive the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate an encrypted paper wallet via the bitaddress.ord URL (running standalone). DON'T LOSE YOUR PASSWORD!
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, you can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send your bitcoin to the public key of your paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain website or app on an android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually).
2) The app/site will ask for the key you used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable to send/spend.
3) Sweep the wallet into your blockchain online wallet. (Important since you must spend all coin in a paper wallet at once or risk losing the "change".)
4) Send any bitcoin that you don't want to keep in a hot wallet into a new paper wallet, created in the same way you created the first one. You can create multiple paper wallets at once above, so you can create a bunch at once and just move your change to the next paper wallet in the list.
245  Economy / Speculation / Re: This is the easy part. on: April 11, 2014, 05:52:05 PM

Man you are so delusional. What makes you think bitcoin will ever go to $10k? The real invention here is the blockchain, bitcoin is just another cryptocurrency. Keep dreaming buddy, yes the few hundred or few thousand dollars you invested into bitcoin is going to set you up for life because bitcoin is going to increase 20X for no reason. This is like investing in some risky penny stock, or risky small cap stock and stating confidently that when (not even if) it goes up 20X your going to be a millionaire. Why don't you pull your money out and start investing in a real online business instead of just crossing your fingers and toes and living in fantasyland?


Why don't you head on over here where you belong -> https://bitcointalk.org/index.php?board=39.0
246  Economy / Speculation / Re: $10,000 when? on: April 09, 2014, 02:32:02 AM
Probably never.
247  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 07, 2014, 07:37:48 PM
I've heard that if the number of posts here ever equals the price of Bitcoin in US dollars that the internet will explode.

It's gonna be like that movie Speed. Go fonzie, go! Save the internet with your stupid FUD!
248  Economy / Speculation / Re: HUOBI SHUTS DOWN April 5th. on: April 05, 2014, 03:50:42 AM
Adding fonzie to my ignore list was the second best thing i've ever done (behind Mah87). :-)
249  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 03, 2014, 07:58:37 PM
After we have broken 400$ will we go almost straight to 250$ or will we have a few (weak) bull traps in between?
Share your thoughts!

My thought is that it would be fun to see you put your money where your mouth is. Never happen, so I guess the ignore list will have to do.
250  Bitcoin / Legal / Re: The IRS decision as it relates to ROTH IRA's - tax-free Bitcoin investment? on: March 28, 2014, 06:21:42 AM
There is no such thing as a "ROTH IRA". It's just a way to categorize money. My basis is still categorized as a ROTH IRA, regardless of where it is invested. I wouldn't mind someone with brains joining this thread.
251  Economy / Speculation / Re: The next 8 to 48 hours? on: March 27, 2014, 08:06:32 PM
It's been weird, though - we've had lots of good news recently and it hasn't moved much, but one rumor from China shows up and down we go. :-/
252  Bitcoin / Legal / Re: The IRS decision as it relates to ROTH IRA's - tax-free Bitcoin investment? on: March 27, 2014, 08:02:05 PM

Let me see if I understand what you're saying.  The IRS has clarified that Bitcoin IS subject to capital gains tax, so you have therefore concluded that your investment in bitcoins (which is not in a Roth IRA) is NOT subject to capital gains tax.  Sorry, no.  I do not see your logic.

The only way I know for U.S. citizens to legally shield an investment in bitcoins from capital gains tax is to hold them in a Roth IRA.  This is doable today, with some effort and expense, through an IRA LLC.  See https://bitcointalk.org/index.php?topic=396783.0.

This may become a lot easier later this year through the Winklevoss ETF or similar.  I'm predicting the price will go up in anticipation of this.  You have to weigh whether it makes sense to go to the effort and expense of setting up an IRA LLC today just to avoid the capital gains tax on that increase.  If your total investment is only $10K, my guess us that it's not worth it for you.

I don't believe you do understand what I am saying, so I will try to clarify. The IRS has said that Bitcoin investments, and their subsequent returns, are to be treated as stocks and other property are (thus their increases in value, when realized, are subject to capital gains in an ordinary situation).

However, ROTH IRA money is tax sheltered, and not subject to these capital gains. I don't know of any limitations on how ROTH IRA money can be invested - stocks & mutual funds are the usual, but currencies and real estate are also OK. Since Bitcoin now officially falls within the same category, I'm hopeful that their returns will also be categorized the same and not subject to taxes.
253  Bitcoin / Legal / The IRS decision as it relates to ROTH IRA's - tax-free Bitcoin investment? on: March 27, 2014, 06:13:52 PM
I had $10,000 in ROTH IRA basis money (money I invested in a ROTH IRA acct and paid taxes on) that I pulled out penalty-free in January to invest in Bitcoin. My original thought was that I was going to treat this as a regular capital gains type investment - no tax shelter.

Now that the IRS has come out and said that Bitcoin investments are to be treated like stock market investments, it sounds like my $10,000 investment can grow and be cashed out tax-free since my withdrawal is really just a movement of my investment from one vehicle (the stock market) to another similar investment vehicle (Bitcoins).

Thoughts?
254  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 19, 2014, 08:52:30 PM
The only thing I want rippled are my potato chips.
255  Other / Beginners & Help / Re: In specific terms, what is the best way to safely store Bitcoins? on: March 14, 2014, 04:11:29 PM
If you use Keepass to store your keys (which you should), then a keylogger can't grab it since you are just double-clicking on the key and then pasting it in. Keyloggers are rare BTW - I know you are trying to be safe/secure, but the biggest risk there is BY FAR is that you will forget/lose your private keys and/or passwords that you need to decrypt them. 

For me personally, I have my Blockchain wallet setup with 2-factor authentication, so I have to enter a code from Google Authenticator on my iPhone to be able to spend coins from my wallet. Very secure.
256  Economy / Speculation / Re: Predictions through 2016 on: March 13, 2014, 08:42:19 PM
A buddy of mine wanted to invest in Bitcoin and wired me $6000. He didn't care how many "coins" he was getting - he wanted $6000 worth of Bitcoin at the going rate, so I got it for him (at $525 - not bad) and put it in a paper wallet. I'd hope that most buyers would think of it the same way - they are just "buying Bitcoin" - where Bitcoin is a plural describing a commodity that can be broken up so granularly that it might as well be gold dust coming out of a stream.

"I will take $6000 worth of gold dust, please! At the current market rate, of course!"
257  Economy / Speculation / Re: Predictions through 2016 on: March 13, 2014, 06:42:14 PM
I have done my own speculation over the past few months (like everyone else) and am confident in my speculations.

Jul '16 = $9,900
More businesses and average folks are adopting Bitcoin faster than ever before because they are seeing how easy it is to get Bitcoins and make purchases, and realize the freedom it offers.

Dec '16 = $16,000+
I don't think Dec '16 needs an explanation based on the previous comments. As Bitcoin becomes more popular, the price will continue to rise until demand slows down, which I see happening in later years (2018, 2019).


Explain why the difference from the trendline analysis:
https://bitcointalk.org/index.php?topic=322058.0

In my opinion, nobody, but institutions will be buying whole bitcoins at $10K, it is just silly to imagine otherwise.
However, regular folks might be buying and using millies (mBTC).
Therefore, bitcoin prices has to be switched to either mBTC or satoshi's quite soon.

It's so funny the number of people in this day and age who don't understand...decimal points.
258  Bitcoin / Bitcoin Discussion / Re: campaign to get Amazon to accept Bitcoin on: March 13, 2014, 03:53:16 PM
While it would be nice if Amazon accepted bitcoin directly (just a matter of time), did you know that you can buy anything from Amazon for 3% off with Bitcoin via Amazon gift cards at gyft.com?

http://www.gyft.com/bitcoin/
259  Economy / Speculation / Re: This isn't a price poll, but rather a How sure are you that BTC will succeed? on: March 12, 2014, 03:59:45 PM
Thanks, aminorex! Great post!
260  Bitcoin / Bitcoin Discussion / Re: Satoshi should give away a good chunk of the 1.000.000 btc he has on: March 12, 2014, 03:49:13 AM
He will use them to quietly curb deflation...
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