Qoheleth
Legendary
 Offline
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
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March 15, 2013, 11:24:02 PM |
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Similarly, I wonder if people making a profit from investing in bitcoin are liable for capital gains tax, and if so, how many people would actually report it.
Kind of off-topic to the issue of banks, but it's another legal concern for the bitcoin economy.
Everything I've read seems to indicate that trading in bitcoins works just the same as trading for barter, tax-wise. That is, when you get income in BTC, you report it as income worth what the bitcoins were worth when you got them, and then when you spend/sell the BTC, you report the capital gain/loss. I'm doing my US taxes right now, and I'm trying to report everything in a forthright way. But it's a lot of busywork. |
If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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silverfuture
Legendary
Offline
Activity: 947
Merit: 1008
central banking = outdated protocol
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March 16, 2013, 12:30:26 PM |
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bitcoin makes it possible to support (or not) the gang of your choice. Your vote doesn't matter...your dollar does.
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yokosan
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March 16, 2013, 01:05:58 PM
Last edit: March 16, 2013, 01:38:22 PM by yokosan |
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This is true. As long as money is to be made it will always be true. It is going to get worse and there is nothing we can do about it.
The advent of Coinlab spells doom for the current incarnation of Bitcoin.
All you can do to protect yourself is get ready to pull out before it is too late.
Remember gentlemen, don't put more money in than you can afford to lose. The next 2 weeks are going to be the bumpiest ride in Bitcoins history.
I can tell you this: When it happens it will be fast. Most will only learn of it after the fact. Those lucky few online when mtgoxlive goes berserk will be able to make a tidy profit before the inevitable collapse below $5.
Mark my words. Soon the 2011 crash will look like a walk in the park.
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peepee
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March 16, 2013, 01:39:25 PM |
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Mark my words. Soon the 2011 crash will look like a walk in the park.
No. Who are you again? |
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peepee
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March 16, 2013, 01:43:07 PM |
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Mark my words. Soon the 2011 crash will look like a walk in the park.
No. Who are you again? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo. Old meme is old. Next. |
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peepee
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March 16, 2013, 01:47:29 PM |
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Mark my words. Soon the 2011 crash will look like a walk in the park.
No. Who are you again? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo. Old meme is old. Next. Good job deleting your dumbass post.  |
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peepee
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March 16, 2013, 02:07:03 PM |
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Mark my words. Soon the 2011 crash will look like a walk in the park.
No. Who are you again? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo. Old meme is old. Next. Good job deleting your dumbass post. Good job preserving it! @Yokosan, would you please elaborate? Your post is quite impressive.  http://knowyourmeme.com/memes/navy-seal-copypasta |
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niko
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March 16, 2013, 02:18:49 PM
Last edit: March 16, 2013, 05:09:52 PM by niko |
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Shit. I'm getting old, and I'm deleting my post. |
They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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CurbsideProphet
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March 16, 2013, 06:01:16 PM |
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Bank can go short when have Bitcoin, If you have no Bitcoin then you cannot selll Bitcoin under market price. Not quite true. For example, all Mt Gox trades take place within their internal database. It is theoretically possible for them to allow a customer to sell bitcoins they don't actually have. The scam could be covered up for a long time unless their customers regularly withdraw their entire Bitcoin balance. If everybody demanded their Bitcoins at the same time it would quickly become apparent if they had sold more bitcoins than they actually had, and the scheme would unravel very quickly. Note that if you have a large BTC balance at Mt Gox you aren't allowed to withdraw it all at once, which is a very good reason to keep your bitcoins in your own wallet instead of theirs. This is a very good and concerning point. I wonder if MtGox has ever had their Bitcoin balance subject to audit or have a clause in their TOS that they will keep a 100% reserve. I doubt it. I think I will bring this up in the Coinlab thread. |
1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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zkay
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March 17, 2013, 01:43:36 AM |
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This is true. As long as money is to be made it will always be true. It is going to get worse and there is nothing we can do about it.
The advent of Coinlab spells doom for the current incarnation of Bitcoin.
All you can do to protect yourself is get ready to pull out before it is too late.
Remember gentlemen, don't put more money in than you can afford to lose. The next 2 weeks are going to be the bumpiest ride in Bitcoins history.
I can tell you this: When it happens it will be fast. Most will only learn of it after the fact. Those lucky few online when mtgoxlive goes berserk will be able to make a tidy profit before the inevitable collapse below $5.
Mark my words. Soon the 2011 crash will look like a walk in the park.
Can you clarify or expand on that? Are you holding anything on the exchange currently, either USD or BTC? |
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