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<rant>
We are witnessing the beginning stages of a full-scale world-wide currency war, and bitcoin is on the front lines.
Interesting times ahead.
</rant>
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What does it mean when the first thing on your mind when you get home from work is to catch up on the latest happenings on this thread?
It means you are just like me.  I'm just watching this -> http://hypron.net/fantastic4/ right now and it really feels like we are going to see a violent move soon... (*edit - 15 minute charts*) |
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quoted from your second link. "Unfortunately the guidelines as published do not address the issues surrounding the taxation of bitcoin mining, and whether bitcoin will be treated as a currency for mining purposes or like gold or silver." This is what I am waiting for. |
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"cheap coins" - another cultist term
Imagine you were selling bitcoin futures contracts. What would someone have to pay you now in return for your bitcoin a year from now? These coins are going up and you know it. You just don't know how much they're going to go down first. emphasis mine* You know what the really cool part is? We can now make these contracts in ways that cannot be broken or backed out of. Just wait until gold futures force settlement in fiat because they don't have the gold to cover their bets. And to answer the what would it take for me to give up my bitcoin? I wouldn't take a bet stretching out any longer than a couple weeks, a year long contract is just ridiculous in bitcoin time. |
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OK, just got home form the bar and appoligies for not cathcin gup to the current converstaainton but I don't think I can read 20 pages before I paass out. QUite a crasy day, I will probably jinx this horribly and I know the perils in tooting one's oun horn and all that but .. I just gotta say this..
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
stage 1 is complete, prepare yourselves accordingly for stage 2. |
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Greenland would be mostly underwater if the glaciers melted. It would be an archipelago.
uh oh, that's bad news. . . . even more bad news??? in times like these, when the charts are looking like waterfalls of blood, I like to listen to this song ... https://www.youtube.com/watch?v=8bRDFgmFFGE <- may this be love - jimi hendrix |
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That poor triangle  which triangle? could you post a picture? I like the 4 hr charts and those look like a bottom line of the triangle around 530-540? doesn't look good for my sub 500 before april guess, but whatever, that's the triangle that I see. the big one, from ATH, it's near breakout but China shits over it again. ahh, yes, the upper bound... when (*not if*) we break through to the top, I think we may see the return of trains, rockets, and moons in this thread. |
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That poor triangle which triangle? could you post a picture? I like the 4 hr charts and those look like a bottom line of the triangle around 530-540? doesn't look good for my sub 500 before april guess, but whatever, that's the triangle that I see. :edit for clarity: I've given up on my previous guess of the 400 dollar bottom triangle because I don't think using data points from those extreme dips is beneficial to my monetary health, lol  |
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holy molly cheap coins out of nowhere!
these not cheap coins till sub 500 (on stamp) - feel free to start buying at all points below 600 on virtex  |
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.... your bank has to order the cash because they don't keep cash in the branch this has nothing to do with fractional reserve banking, at a branch level. It is a purely security driven practice and many branches hold up to the maximum allowed in their safe that their insurance will cover this isn't fractional reserve banking.
You guys aren't helping the cause here with the ignorance.
Yep, on a branch by branch basis they obviously keep the required amount on hand for security reasons. I think the guy upthread was meaning that, theoretically, if "everybody" went to withdraw their money, the bank would not be able to produce it due to the fractional reserve system. /
No kidding! I think the coolest part about this story is that people feel safer walking around with large baskets of money than they do with that "money" sitting in a bank. people are beginning to wake up a bit maybe? |
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I think the mining component is crack smoke, batshit crazy. Bitcoin is software. When you mine, you are generating software, just as if you wrote code. There is no taxable event until and unless you sell the software. Producing is not taxable. The tax courts will overturn the opinion eventually if it is not revised sooner. I am not a lawyer.
thanks for that, I had the same gut feeling, but I wasn't sure. here is how it should be done. http://politiken.dk/oekonomi/dkoekonomi/ECE2244816/bitcoin-gevinster-kan-stikkes-direkte-i-lommen/still waiting for a statement of tax treatment in Canada... |
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btw, has everyone seen this already? http://politiken.dk/oekonomi/dkoekonomi/ECE2244816/bitcoin-gevinster-kan-stikkes-direkte-i-lommen/After seeing the tax treatment the IRS put out recently, I'd move to Denmark in a second, if I didn't think the whole country is going to sink into the ocean, lol. This would be the sensible stance for Canada (and every country really) to take, but sadly, I get the feeling that Heir Harper will follow the US precedent, as always. :edit: Whoa, wait a sec, Greenland would be under the same law, right? Greenland can't be much worse than Canada, and after the glacier melts, there should be lots of cheap land for sale... hmmmmmm |
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When it comes to language, some have an 800 piece toolkit and some have a rusty spoon.
Perpend your proclamation purloined! lol |
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I don't think it makes much sense when trying to use it as a currency. If I buy bitcoin at 3pm to use for a cup of coffee and go to buy coffee at 4pm and my bitcoin appreciated in that hour, I'm not going to make a record of every single buy/sell and determine if it is a gain or loss to report to the IRS. Stupid.
You don't have to make a record. The blockchain does it for you. yes, but, the blockchain does not calculate the equivalent value at the time of transaction. For that matter, when does the transaction actually take place? 1 confirmation? 6? 120? And the part about the miners is ridiculous. Should a miner be calculating the price of that fraction of bitcoin that he/she gets payed from each and every block mined by the pool? Are they supposed to calculate it at the time of withdrawl? How are you supposed to calculate the gains on a transaction that may be spending hundreds of small inputs mined over several years? |
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And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that. I will now steal it for my signature. Thanks Erdogan Actually, "Virtual currency" is pretty correct for Bitcoin. There are no bitcoins, only the transfer of bitcoins. How can you transfer something that does not exist? Makes no sense. Well bitcoins dont exist..... essentially one doesnt receive or send bitcoins, one just changes their identity in the block chain. but we just use the term transfer because that's what it's like. This is precisely why I like the term "cryptomoney". bitcoin has more in common with the stone money from the isle of yap than it does with what we would consider currency. You may be correct that we don't actually transfer bitcoin, but rather we transfer proof of ownership of bitcoin. see http://en.wikipedia.org/wiki/Rai_stones |
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IRS Says Bitcoin is Property, Not Currency
In a notice, the IRS said that it generally would treat Bitcoin held by investors much like stock or other intangible property. If the virtual currency is held for investment, any gains would be treated as capital gains, meaning they could be subject to lower tax rates. http://stream.wsj.com/story/markets/SS-2-5/SS-2-490994/Probably willful confusion on the govenment side, just like the central bank reports. It is not a currency, because it is not a generally used medium of exchange, ok, but it is money. It is not virtual, it is complete, full, real, tangible money. The expression "virtual currency" should really not be used for bitcoin, cryptocurrency is better, but the best name is cryptomoney. And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that. I will now steal it for my signature. Thanks Erdogan |
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ehhh, I don't like the way this looks, I said a few days ago I thought we had one more big dip left before we take off, and I still think that way. <snip>
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
I did quite well accumulating between 500 and 450 the last 2 big dips, I'm still thinking we could see the mother of all triple bottoms before April hits. of course, it's still just a feeling, a "wild guess". Just be careful out there. It is the way I "feel" myself, one more big dip before we rise but a bigger and more agressive dip this time, a scary dip Let's see I totally agree about an upcoming big scary dip... but it I think it will dip upwards. A reverse dip. (very big and scary though) upward dips can be scary indeed. unless u b hodlin' |
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ehhh, I don't like the way this looks, I said a few days ago I thought we had one more big dip left before we take off, and I still think that way. <snip>
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
I did quite well accumulating between 500 and 450 the last 2 big dips, I'm still thinking we could see the mother of all triple bottoms before April hits. of course, it's still just a feeling, a "wild guess". Just be careful out there. |
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what does it have to do with ripple?
Can't you see from the article? Ripple has re-invented banking! All bitcoin ever did was make banking obsolete. |
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0% fees are good in flat markets, I don't particularly care about fees when big swings are imminent. If I'm making 15-20% on a trade, I don't really care about 0.5% fees.
0.5% would be quite acceptable, I've been dealing with 1.5%, which is mostly why I'm no longer trading. Hodling only now. I'm curious seleme, do you think the 0% fee structure will take over and become the norm? It certainly seems like the asian markets are going that way. I don't see point in 0% fees. Why would anyone run a business without making profit on it? It smells shady. Bitcoin exchanges fees are huge compered to other markets but 0% is not normal. Thanks, I think it's maybe like those "free to play, pay to win" games - they will offer certain advantages to those that pay for them... just a guess. |
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