Bitcoin Forum
August 02, 2015, 10:19:22 AM *
News: New! Latest stable version of Bitcoin Core: 0.11.0 [Torrent]
 
  Home Help Search Donate Login Register  
  Show Posts
Pages: « 1 ... 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 [100] 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 ... 376 »
1981  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 02, 2013, 04:55:40 PM
Disclaimer: I know nothing about EFTs and TLDR the Winklevii document.

I wonder what the tax implications of the Winklevii moving their BTC into this EFT trust are. They would not need to pay any capital gains tax, since they've not realised their profits. But what about the shares they are selling?

There is no tax implication for them or their corp.  the corp does not pay taxes when issuing shares.  That money goes to the corp (not to you directly).  If they then pay themselves a salary from that money, then they'd pay taxes on it.

I guess the difference is that if they just sold the BTC, they would pay taxes on any realized gains.  So, actually, I guess this is the perfect way of selling BTC at a profit without paying taxes.   The money is technically in the corp, but they can still buy themselves pretty things with it.

What it does is make the Bitcoins into an ETF.  There are well established rules for ETFs for taxes and accounting, so it hides the fact that your investment is in Bitcoins making the accounting easy, its just another ETF in your list of ETF investments.

Whether it is wise to do so is an entirely separate question.  

Also, the ETFs are the #1 mechanism that the leviathans use to manipulate currencies (such as gold).  So the existence of an increasing number of ETFs that can move the market however a central bank desires it to move creates additional issues.

The reason there are Gold, Oil, Industry, and Country ETFs is that actually buying a brick of gold, or a barrel of Oil is a huge pain.   This is not the case for Bitcoins.  Any idiot can overnight a check to CampBx and buy Bitcoins.  ...and you don't need to declare anything.  If Bitcoins go up in value and you sell them, it is up to you if you want to declare that income (the IRS has not said it's taxable yet) - with an ETF, you WILL have to pay taxes, definitely.

The IRS says every profitable transaction is taxable: http://www.irs.gov/taxtopics/tc420.html
1982  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: July 02, 2013, 04:48:31 PM
Step away for a week and the price has EXPLODED!  Pleasant pleasant surprise.  Where do you think the ceiling is?  Still time to buy in more?

https://bitcointalk.org/index.php?topic=235763.0
1983  Economy / Speculation / Re: Mt. Gox and the fluctuation of Bitcoin price... on: July 02, 2013, 12:14:30 AM
Yea I do not see any reason that exchange of cryto-currencies to other cryto currencies should be regulated, I remember reading an article where bitcoins were deemed a form of storage of memory and not an actual currency I wonder if this argument will be applied in these regulatory talks...

Perhaps elsewhere, but in the US FinCEN has made it very clear that certain bitcoin activities require registration as a MSB and a Money Transmitter.
1984  Economy / Speculation / Re: What exactly is the bear case? (sincere question) on: July 01, 2013, 11:23:45 PM
Basically the dollar is such a good investment that people are all jumping on board. I cashed out all of my stocks and bought dollars.

I have also taken out a huge loan in the hopes that the dollar goes up a lot.

We are all going to be rich!

How is taking out a USD loan possibly a good thing to do when the dollar is strong?  You have to pay it all back and even if it is a fixed rate the real value of the interest payments will rise.
1985  Bitcoin / Pools / Re: pool.yrral.net P2Pool backed mining pool ALPHA on: July 01, 2013, 01:54:14 PM
Here are the difficulty weighted share records for the 3 solved blocks this payout period.

Block Unix Timestamp: 1372321882 Total Payout: 0.11698405
Address                                                 shares  payout
178sstRXJ2aF4KHcrkbECzFopjDgHCigyr        219840  0.11688292
1yrraLgmRZ1fbgtz2BSVXcWVrJnH785QZ      190.217 0.00010113

Block Unix Timestamp: 1372496818 Total Payout: 0.09565966
Address                                                 shares  payout
178sstRXJ2aF4KHcrkbECzFopjDgHCigyr        127459  0.09322465
1yrraLgmRZ1fbgtz2BSVXcWVrJnH785QZ       3329.2  0.00243501

Block Unix Timestamp: 1372604666 Total Payout: 0.05891375
Address                                                 shares   payout
178sstRXJ2aF4KHcrkbECzFopjDgHCigyr        61423.7  0.05702005
1yrraLgmRZ1fbgtz2BSVXcWVrJnH785QZ      2039.95  0.0018937

Total confirmed payouts:
178sstRXJ2aF4KHcrkbECzFopjDgHCigyr        0.26712762
1yrraLgmRZ1fbgtz2BSVXcWVrJnH785QZ      0.00442984 + 0.00000042 = 0.00443026
Total                                                    0.27155788


Transaction ID: 2232dc36bad0c64c23f9b5ac48ad4fe692f4138ef565cfd90a8a4cc11bef017b

The pool has been down since noon EST on Saturday and will remain so for at least the rest of this week.
1986  Economy / Speculation / Re: Yet another analyst :) on: June 30, 2013, 01:03:37 AM
Yeah a lot of people "truly appreciate" numerology too. (Or "investing" in Bitcoins for that matter Tongue)

I'm guessing you're a hardened disbeliever, ElecticMucus. What characteristic about Elliott Wave is troubling you?

No check for consistency is done. (Usually by the drawing lines on a chart approach)
But I hold about every other method in the same regard, that includes traditional indicators, candle sticks and whatnot. I would even say every approach which isn't fully automated isn't worth the effort.

Interpreting the chart as a continuous non-differentiable function is ok, but attribution of arbitrary constraints is not. (Like Fibonacci ratios which are literally Numerology)
Don't come with a "track record" unless you show me statistical proof I call BS.

Price is certainly not continuous.
1987  Economy / Speculation / Re: ...AND THE BOTTOM IS... on: June 30, 2013, 12:46:55 AM
I answered the question in the poll.  The I read the OP.  Those questions have different answers.  Which one should I be responding to?

While I may be able to make a decent guess at the bottom, I will rarely be exactly right.  I will be buying all along the way.
1988  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: June 28, 2013, 07:18:20 PM
APMEX was advertising a special on PAMP 1oz gold bars, $29.99 over spot.  The special ended a few hours ago so I thought I'd check in to see what the new rate is, it's $29.99 over spot  Cheesy

I guess they have a lot of supply leftover.

ROFL. over supply?

Yup.  Gold bugs constantly harp about the divergence between paper gold and physical gold.  Well, right there you can buy all the physical gold you want for a very reasonable price over spot, but it doesn't really look like people are buying.  Maybe when it gets closer to $1000.

Pawn Star guy says otherwise.

http://www.zerohedge.com/news/2013-06-28/even-pawn-star-knows-governments-can-screw-currency

Someone should tell him about the APMEX deal.
1989  Economy / Speculation / Re: Mining margin on: June 28, 2013, 07:14:07 PM
gpu mining or asic mining ?
Sadly blockchain.info doesn't give away what hardware is used for the calculation, so it doesn't allow for a precise statement.
But with difficulty rising and price dropping it's fair to assume that even Asics won't provide a margin anymore if this continues.

Actually, they do:
Quote
* Electricity consumption is estimated based on power consumption of 650 Watts per gigahash and electricity price of 15 cent per kilowatt hour. In reality some miners will be more or less efficient.

** For profit margin hardware costs are estimated to be $1000 per gigahash every 2 years, and bandwidth $1 per gigahash per year.

You can verify this at the bottom of this page: http://blockchain.info/stats

In other words, their assumptions are now complete bullshit.
1990  Economy / Securities / Re: ASICMINER Speculation Thread on: June 28, 2013, 09:19:21 AM
A single person could assemble 10 Minirigs in an 8 hour working day. That's 150 Th/s in a month.

Mabsark, you're a funny guy. No one is forcing you to buy ASICMINER shares at 3.4 BTC each. Your calculations would be correct if the case was that BFL was sending the order in a week from ordering, if you were to order today you think that you will get your order in 6 months? I ordered a single from BFL almost a year ago and I still have nothing. ASICMINER will have chips that will be superior to Bitfury before they start shipping and I don't believe that Kncminer will actually deliver 28 nm chips.

There's no evidence whatsoever that AM will have chips better than BitFury. That's just pure hype with no evidence whatsoever to back it up.

And yes, I know you can't buy a BFL and get in within a week. I've stated numerous times now that that's the reason why AM is so overpriced. Use your brain for 1 minute and think about the consequences of being able to buy an ASIC miner off the shelf from BFL or anyone else for that matter.

It's blatantly obvious that under such circumstances, AM will not sell as much hardware and it won't be able to sell that hardware for ridiculous prices, which means less income from hardware sales.

If you could buy a BFL off the shelf right now, how much would you pay for an AM USB miner?

But you can't.  And you won't be able to for at least 3 months, likely 4.  And by that time difficulty will be 10-15X what it is now.  ASICMiner is filling a niche.  Yes, it is a temporary advantage, but it will continue to exist for a while yet.

That's what I've been saying all along and that's precisely why AM is overpriced. My argument is not that BFL is the greatest or that AM is the worst. My argument is simply that AM is overpriced basically because it has a monopoly.

Right now it is not overvalued because there is no threat to the monopoly.  Once one appears, if prices don't fall it may be overvalued.
1991  Bitcoin / Group buys / Re: USA/Canada [Group Buy #2 @136/50] ASICMiner Erupter USB 2.03636 each @ 5 units on: June 28, 2013, 09:01:27 AM
I did, but it looks like I'm the only one.
1992  Economy / Securities / Re: ASICMINER Speculation Thread on: June 28, 2013, 08:59:07 AM
A single person could assemble 10 Minirigs in an 8 hour working day. That's 150 Th/s in a month.

Mabsark, you're a funny guy. No one is forcing you to buy ASICMINER shares at 3.4 BTC each. Your calculations would be correct if the case was that BFL was sending the order in a week from ordering, if you were to order today you think that you will get your order in 6 months? I ordered a single from BFL almost a year ago and I still have nothing. ASICMINER will have chips that will be superior to Bitfury before they start shipping and I don't believe that Kncminer will actually deliver 28 nm chips.

There's no evidence whatsoever that AM will have chips better than BitFury. That's just pure hype with no evidence whatsoever to back it up.

And yes, I know you can't buy a BFL and get in within a week. I've stated numerous times now that that's the reason why AM is so overpriced. Use your brain for 1 minute and think about the consequences of being able to buy an ASIC miner off the shelf from BFL or anyone else for that matter.

It's blatantly obvious that under such circumstances, AM will not sell as much hardware and it won't be able to sell that hardware for ridiculous prices, which means less income from hardware sales.

If you could buy a BFL off the shelf right now, how much would you pay for an AM USB miner?

But you can't.  And you won't be able to for at least 3 months, likely 4.  And by that time difficulty will be 10-15X what it is now.  ASICMiner is filling a niche.  Yes, it is a temporary advantage, but it will continue to exist for a while yet.
1993  Economy / Speculation / Re: Duble Digit Belieber's Club: on: June 28, 2013, 08:55:49 AM
As bullish as I am about bitcoin it is really hard to believe some benevolent market stabiliser is out there pulling puppet strings keeping the price at or about 100usd per.


There's nothing benevolent about it. People want to unload millions of dollars of BTC to anyone who will buy it for as much as possible.


If that were true then there would be no reason for the manipulator to buy back in to keep the price at 100. He would be better off selling incrementally into the market price without moving it in either direction

No, he would not.  This would show up in the charts and technical analysts would start to front run him.  It is better to trade around your target than trade all on one side.
1994  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 08:54:04 AM
As for daily, my issue with that is that we don't have it entering the triangle initially from the top and bouncing off the bottom.  Instead it bounces low outside the bounds, then enters the triangle and bounces off the top.  This gives the triangle a slightly more bullish character than the one I posted.  

So you expect at the end of the triangle first break up and then fall down?  Wink

I'm honestly about 60/40 bearish on the daily at this point.  It would take some intense short term buying pressure to base a rally from here.

But that's assuming a breakout....  We could very well move sideways for a while.
1995  Bitcoin / Mining speculation / Re: The Impending Stalemate on Mining Hardware and ROI on: June 28, 2013, 08:50:14 AM
If difficulty rises too high people stop buying hardware and inefficient hardware drops out.  Difficulty corrects.  End of story until the next price bubble hits.

Unfortunately, several hundred TH/s were pre-ordered in the form of BFL, Avalon chips, KNCMiner, Bitfury, etc. So for the next 4 months at least, the difficulty will follow an exponential curve. There is a tremendous amount of head room in the difficulty rate for operation of mining equipment because the USD exchange rate moved from low double digits to low triple digits.

If the exchange rate continues to rise the hash rate growth will not slow. However, that does not make investment in mining equipment a good investment. If you stand to make more from buying BTC than buying equipment to mine BTC, then prices for equipment must correct eventually.

Your thesis requires they fix the recurring problems with their production and shipping procedures.  ASICMiner is the only company shipping with reasonable lead times.  I think they will get there, but it might take 4 months before it starts to smooth out.

There are roughly 2000 TH/s of chips either produced or planned for production so far (roughly 1000 TH/s of which has already been paid for).  3000 TH/s of chips would take us to 20X current difficulty, which is about the upper limit on profitability for some of the lower end ASICs.  Where is all the money going to come from to produce the last 1000 TH/s of chips after the difficulty skyrockets and another 1000 TH/s worth of demand is soaked up by chips on the way?

And yes, if you are investing USD, you need to ensure your ROI is good at today's prices or potentially even lower.  You should not count profits in USD terms without a significant margin of error added.  Things are a bit simpler if you are investing BTC.
1996  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 08:38:56 AM
Anyhow, sorry for the OT lucif, please show us some bearish triangles Wink



This resembles BTC right now.

On what timescale?

15 minute lol

Also daily since about $160

I see the 15 minute, but don't get lost in the wiggles Tongue

As for daily, my issue with that is that we don't have it entering the triangle initially from the top and bouncing off the bottom.  Instead it bounces low outside the bounds, then enters the triangle and bounces off the top.  This gives the triangle a slightly more bullish character than the one I posted.  However, things still look fairly bearish based on other indicators.
1997  Bitcoin / Mining speculation / Re: USB ASIC Miners will never ROI at 1 BTC/device on: June 28, 2013, 08:29:59 AM
I did not buy them.  I am operating them for a fee for a friend.  Based on the timing, I would say 2 which is unfortunate for him.  I wouldn't have bought at that price and I told him that.  However, this shouldn't be a competition to prove I made bad decisions.  This should be a discussion of facts.

At 2BTC a piece I agree.

Also, I am the pool fee, so even on my own hardware I don't have to worry about that.

Dude, I've been mining since December 2010.  I know how to calculate expenses.  If you want to discuss potential difficulty, sure, that is guesswork.  But I know expenses.

K your 0.2btc return on 18 months plan is too little for my tastes. And a bit too risky considering
Thats based on 10% 11day schedule. How much is shipping on those?



Shipping is free.  I'm still not buying at 1BTC, but it is profitable and I will gladly continue to operate for a fee as many as my friend wants to buy.

Personally, I am waiting for a better proposal once AM gets some competition.  At the moment, they are the only ones shipping in reasonable times (2-4 days from China to US vs. a 3 month estimated queue at BFL and taking a risk on Avalon's "we will deliver when your rig starts to fill with dust"... oh or KNC's 28nm dream machines).  I'm waiting a few more months to see how it all plays out.

The real question is how the heck are you getting a hashspeed of 400 instead of 334? Do tell...

1. Plug it in
2. Start mining

They are likely advertising a hashrate that is based on average imperfection rate and a fair margin of error.  All ASIC production has areas where the chip doesn't work properly, so you might only get 90% of the cores in the chip that actually function properly.  Either they added too much buffer to their estimate or I got really lucky with all 10 of my miners.
1998  Economy / Speculation / Re: Where we break the downward trend and rebound from the current bottom? on: June 28, 2013, 08:23:35 AM

So, of the 11.5 million current addresses, only about 600K have any coins. What conclusions can we draw from that, if any?

To the OP: will get back on topic soon Smiley

That most coins move after they are received.  That's about it.
1999  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 08:18:15 AM
Anyhow, sorry for the OT lucif, please show us some bearish triangles Wink



This resembles BTC right now.

On what timescale?
2000  Bitcoin / Pools / Re: [700GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: June 28, 2013, 08:13:06 AM
Block Erupter Blade support for p2pool - Bounty
Current bounty: 5 BTC

I would like to make ASIC Block Erupter Blades 13GH/s working with p2pool. ASICs support for p2pool is very important for p2pool survival.
I am giving 5 BTC bounty for developer who will make them working on p2pool. Bounty will be paid to developer or split between group of developers who will contribute to solving the problem.
If you guys have BE Blades too, please let me know. I can arrange escrow via John K. (or I can collect funds directly, I am trusted forum member, please check my OTC), once we gather more funds maybe one of our developers will be interested to look closer to this problem.
I myself can donate my Blade worktime for a developer to make debug and testing, please let me know.
PM me if you a developer and you would like to get access to my BE Blade and to my Linux server for debug purposes. Please help:)
PM me if you a BE Blade user and you d'love to see your blades hashing on p2pool to - let's gather more BTC for our honest developers.

Regards
Lenny


Have you tried it?  What kind of stats are you getting?

I'm running 10 AM USB sticks on p2pool and getting over 100% efficiency.
Pages: « 1 ... 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 [100] 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 ... 376 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!