No one, not even MT (who the h*ll he/she/it may be), can bring the btc price back to $1200.
Having said that, it's NOT only possible, but HIGHLY likely that it will hit $1200 some time this year and surpass it, maybe a few times before settling on a new ALL TIME HIGH.
I am betting with all my idle cash.
Sorry, not possible. Sources have confirmed from China, that bitcoin will continue to crash around the world. I have some links somewhere, all in Chinese of course, but I can't be bothered to locate them right now. Point is, 2013 was bitcoin's last flash in the pan. It's all down hill from here. Also, India, and sources. Also, some other sources and such. You know the drill. |
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God, posts like this make me want to go back into bear-troll mode to show Edward50 how to really do it well...thinking...
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Given the position I'm trying to get into for compliance, short term tarding would just be foolish. Add to that that I think by the time I'm ready to liquidate a significant portion they'll be worth more than they are today, I'm hodling, hodling from bitcoin tarding.
Does that make you a hodling tard then ? Sure. A tard who doesn't want the disruption and potentially heavy financial costs of being unprepared for the tax man. |
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Rpietila seems a reputable in his views. I think we all should read his writings, learn him, try to figure out his mood and based on this, sell or buy coins. The price will go quite low if we can trust him - usually we can. He made his bearish call correctly last time while all were laughing at his face, spitting on him and considering him as slain of God, the man of sorrows, the friend of pains etc. After all, he made his trades and tons of money. Now those of you who do not follow his paths right now will loose as the price eventually crashes. He is making money so why shouldn't I do it with him? I hope you guys here are also in the same boat with me. It is not that difficult to turn from bull to bear. I did it after I found Rpietila did it also.  Sounds like legit advice. I'd totally be down for some bitcoin tarding again, but I hodl because I'm trying to put myself in a good position to pay long term capital gains (best, reasonable, compliance case) without any possible complications and obligation by having any USD or BTC on foreign exchanges. Given the position I'm trying to get into for compliance, short term tarding would just be foolish. Add to that that I think by the time I'm ready to liquidate a significant portion they'll be worth more than they are today, I'm hodling, hodling from bitcoin tarding. If you're a US citizen and you're trading with more than $10k, and haven't considered the implications of foreign exchange and tax implications of realizing profit, etc, good luck. |
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I've engaged an attorney to help me work through compliance. Thankfully, It's been a long time since my bitcoins have sat on any exchange, let alone a foreign one. Most of my bitcoins have been sitting still in offline wallets only I control, some for over a year at this point, which will help me make a case for long term capital gains treatment, which is ideal.
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I think Loaded is at it  Exceeded $40m in bids on MtGox briefly, which just seems amazing to me for a couple reasons. (1) Why is so much money still flowing to MtGox where prices are higher and the ability to withdraw USD is practically non-existent. (2) I remember when the entire bitcoin "market cap" was a fraction of what's currently visible in bids just on Gox. Surely there's quite a bit more money not presenting itself on the order book, plus all the money sitting on all the other exchanges. |
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OP, where are you? Please advise for those of us who used the generous advice you posted? What next?
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Will somebody PM when it's time to sell a bunch of bitcoins next year. I don't want to miss out.
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We are about to break the previous low of $455, just need this bulltrap to complete!  So stay out? |
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it's about to pop! see 4 hour candlestick chart  last chance to get out Where can I send my payments so I know when to get out? Cause on the daily chart we are gonna go alot higher... You were supposed to get out on the 20th. We need OP to come back and tell us if we ought to stay out, or when we should get back in, if ever. OP? |
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When you realize it's time to buy back in without buying back less bitcoins with the same amount of money will you let us know? Or, is this likely the last time to sell, ever. Will you please advise. Thanks.
dude, dunno what your asking but i would hang tight becuase we prob gonna break previous low of 455. You kindly informed us when we should sell to "get out". I asked you if you would kindly inform us again when it's time to buy back in, if ever, so that we don't have less bitcoin than we started with...you know, from selling when you told us to. Any thoughts? |
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EDIT:
Basically, if you get less reward for a given investment, than the investment is more risky??
If that's true, then pretty much every major stock investment in the world has been more risky than investing in bitcoin because all of those other investments have returned less reward. Bitcoin: The least risky investment. |
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EWA works, and everyone who follows it is wealthy. Fact.
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The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher. This is going to be the problem, going into the future. And switching to mBTC doesn't help fix this. Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all. At least that's how I understand it. Wait, I wasn't aware that the point of switching to mBTC was to pump the price... |
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Honestly, id be more interested in seeing a pic of your wife, but I can understand if you decline... Since you asked, and I happen to have these on this computer...   Edit: Yeah I know I look a bit gay in these photos but things we do to keep our girls happy... Hey Chaang Noi, I'm guessing from your screen name and the wedding attire your girl has on she is from Thailand? Nope. She's Irish. |
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1BTC
In a few years people will be amazed to know somebody with 1BTC
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Hey, who's ready for Christmas? |
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Also, I'm being cautious in regards to tax obligations. US citizens who are trading willy nilly, and not keeping good records may well find themselves in a very unfortunate position in the future. The tax trouble could be worse if you're using foreign exchanges. And it could especially be bad if you're cashing out a lot, using the money, and not holding a good portion in reserve.
Until we get something definitive from the IRS, I'm going to try to make the case for long term capital gains, and to safely do that I'm keeping the vast majority of my coins off exchanges and at addresses only I (and a few trusted people) have control over.
Good luck to anyone in the US recklessly short term trading/cashing out noticeable sums of money using foreign exchanges without any thought for accounting and tax obligations.
Any US transfer amount over $10,000 is required to be reported to the IRS by the bank. So if you're cashing out like a boss, they already know. Which makes it all the worse if you're recklessly spending it all. |
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Also, I'm being cautious in regards to tax obligations. US citizens who are trading willy nilly, and not keeping good records may well find themselves in a very unfortunate position in the future. The tax trouble could be worse if you're using foreign exchanges. And it could especially be bad if you're cashing out a lot, using the money, and not holding a good portion in reserve.
Until we get something definitive from the IRS, I'm going to try to make the case for long term capital gains, and to safely do that I'm keeping the vast majority of my coins off exchanges and at addresses only I (and a few trusted people) have control over.
Good luck to anyone in the US recklessly short term trading/cashing out noticeable sums of money using foreign exchanges without any thought for accounting and tax obligations.
Trade BTC for profits -> Cash out vast amount of profits -> Spend profits on whatever -> Bitcoin crashes -> Reserve Bitcoin worthless -> Government finally catches up to your scheme -> Demands taxes @ 35% on every short term trade you ever made + 15% on long term trades = Nightmare scenario That's certainly a horrible scenario, but I think the more likely one, which can be just as bad, is that you cash out a lot and spend more of the taxable profit than your ordinary ability to pay on the obligation. I'm convinced that more than a few people are going to get stung by this. |
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Also, I'm being cautious in regards to tax obligations. US citizens who are trading willy nilly, and not keeping good records may well find themselves in a very unfortunate position in the future. The tax trouble could be worse if you're using foreign exchanges. And it could especially be bad if you're cashing out a lot, using the money, and not holding a good portion in reserve.
Until we get something definitive from the IRS, I'm going to try to make the case for long term capital gains, and to safely do that I'm keeping the vast majority of my coins off exchanges and at addresses only I (and a few trusted people) have control over.
Good luck to anyone in the US recklessly short term trading/cashing out noticeable sums of money using foreign exchanges without any thought for accounting and tax obligations.
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