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Author Topic: What`s going on with the price?  (Read 4634 times)
Jaime Frontero
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June 11, 2011, 06:32:20 PM
 #41

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari Smiley

over a third of a million USD...

maybe both!  Shocked
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bitcoinminer
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June 11, 2011, 06:33:11 PM
 #42

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari Smiley

over a third of a million USD...

maybe both!  Shocked

Well, probably more like $200k.  I'm sure he reported it as a gain and paid the taxes on it.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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June 11, 2011, 06:38:11 PM
 #43

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari Smiley

over a third of a million USD...

maybe both!  Shocked

Well, probably more like $200k.  I'm sure he reported it as a gain and paid the taxes on it.

if you successfully mine a block could that be considered like a lottery win? not sure in the US, but where I'm from lottery wins are tax free
bitcoinminer
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June 11, 2011, 06:40:35 PM
 #44

where I'm from, lottery winnings are taxed 50-65%

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
Jaime Frontero
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June 11, 2011, 06:52:00 PM
 #45

where I'm from, lottery winnings are taxed 50-65%

this is why we really need to be able to sell specific coins in the client.

given that i pay my taxes, and given that capital gains tax will treat these two cases quite differently:

1.) i mined a block in march, when Bitcoin was at 86 cents/BTC, and sold that block when Bitcoin was at $31; and

1.) i mined a block yesterday, when Bitcoin was at $20, and sold it today at $20.

i would really REALLY like the option to provably sell under the second scenario - saving my older (and subject to higher tax) Bitcoin for another time.
Justsomeforumuser
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June 11, 2011, 06:59:22 PM
 #46

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Not really because when price goes back up beyond $31 they'll be OK.

I love how people confuse "if" and "when". Or past with future performance.


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that person decided he wanted some inflation funny money

I also love how people call the thing that you can still exchange almost anywhere in the world for food, travel, goods and services "funny money"(as opposed to BTC which can literally buy almost nothing BUT the funny money, funnily enough).


Ho-Hum.
bitcoinminer
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June 11, 2011, 06:59:52 PM
 #47

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Not really because when price goes back up beyond $31 they'll be OK.

I love how people confuse "if" and "when". Or past with future performance.


Quote
that person decided he wanted some inflation funny money

I also love how people call the thing that you can still exchange almost anywhere in the world for food, travel, goods and services "funny money"(as opposed to BTC which can literally buy almost nothing BUT the funny money, funnily enough).



lol +2

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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