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Author Topic: OK, THIS IS FUCKING INSANE  (Read 9749 times)
BitPirate
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April 03, 2013, 07:25:22 AM
 #21

The price was held artifically low for too long at under $100. Now it is finding it's true value.

Similar thing happened under $50 -- we cut through up to $70 in no time.

This time, there's more buying pressure and the absolute values are larger.

I think this can still go on for some time yet. Sure there will be a small dip at the weekend, but long term it looks like BTC is "melting" up -- just what many have predicted.

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April 03, 2013, 07:25:44 AM
 #22

+1 what hyphymikey said

If your plan is to flip bitcoins for a short-term USD profit you will get eaten

But if your plan is to hold bitcoins and use them to pay businesses, you will come out on top

Dude I'm close to paying off my mortgage!!! my only two concerns are:
* When do I take my profits. (at one point I must take some profits, I haven't ever since I started mining and buying I haven't sold a single BTC)!
* How to avoid getting taxed like crazy when I transfer fiat back to my account.

Wow you seems to own more than 2000 bitcoins!
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April 03, 2013, 07:26:54 AM
 #23

+1 what hyphymikey said

If your plan is to flip bitcoins for a short-term USD profit you will get eaten

But if your plan is to hold bitcoins and use them to pay businesses, you will come out on top

Dude I'm close to paying off my mortgage!!! my only two concerns are:
* When do I take my profits. (at one point I must take some profits, I haven't ever since I started mining and buying I haven't sold a single BTC)!
* How to avoid getting taxed like crazy when I transfer fiat back to my account.


I still havent covered my basis. I keep telling myself that I will soon, but never do (for better or worse).

I've been struggling with the tax issue as well and from what I gather it seems far too risky to attempt anything if it hits your account. Only off exchange is worth it.

Bro, do you even blockchain?
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April 03, 2013, 07:28:52 AM
 #24

bitcoinforecast.com shows longterm price at USD 253.74

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April 03, 2013, 07:29:09 AM
 #25

+1 what hyphymikey said

If your plan is to flip bitcoins for a short-term USD profit you will get eaten

But if your plan is to hold bitcoins and use them to pay businesses, you will come out on top

Dude I'm close to paying off my mortgage!!! my only two concerns are:
* When do I take my profits. (at one point I must take some profits, I haven't ever since I started mining and buying I haven't sold a single BTC)!
* How to avoid getting taxed like crazy when I transfer fiat back to my account.

Wow you seems to own more than 2000 bitcoins!

^^ Vladimir Club alert Wink

Long term the best way I see to avoid taxes is to never sell. If this is the new Swiss bank account why liquidate? If you want to speculate just sell enough to recover your initial investment and reduce your basis but let the rest ride a few years (or decades).
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April 03, 2013, 07:32:22 AM
 #26


the problem is that they didn't experience this amount of growth in such a short term!



While I think this is true..at some point during the "IPO" there was a growth curve similar to what we are experiencing. What is catalyzing this whole thing is the fact that financial systems around the world have been called into question due to recent events in the EU and Cyprus. People are responding to that uncertainty by getting into bitcoin. What alot of these graphs dont take into consideration is that the market is much more dynamic today than it was even a year ago. People are networked up..tuned in on whats happening globally. This is not just software though...this is MONEY..this impacts EVERYONE.

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April 03, 2013, 07:35:11 AM
 #27

I think it's the beginning of last leg - vertical one. Could go like that for several days...

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April 03, 2013, 07:36:44 AM
 #28

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Crazy
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April 03, 2013, 07:41:11 AM
 #29

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April 03, 2013, 07:42:05 AM
 #30

Part of me wants to sell. Part of me thinks that if I sell I'm just giving my bitcoins away at a deep discount to some rich guy who's just paid me with what amounts to pocket change.
Yeah many people regret selling at 30/40/50$ now for sure.. don't wanna be that guy now

That's me... I sold at $27

I could've been rich!

 Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry


*breathe*

*breathe*

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April 03, 2013, 07:44:46 AM
 #31

EVERYTHING IS PROCEEDING AS I HAVE FORESEEN IT Cool
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April 03, 2013, 07:47:09 AM
 #32


which is?

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April 03, 2013, 07:49:24 AM
 #33

we could be looking at the future money coming to us sooner than we all had imagined

can you imagine a world of bitcoin as standard money? wow
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April 03, 2013, 07:50:17 AM
 #34

I've already made my call $250/BTC by April 30, 2013.

Might be conservative.

Dude I'm a fucking atheist but nobody makes money this fast and this easy without going to some sort of hell....


 Grin

My small investment is growing so fucking rapidly, and is becoming a not so small investment.
However, I love everything about bitcoin and am also afraid to sell  Grin

+1,this is starting to get somewhat serious for me.  I can't even imagine how the real early adopters feel (one might argue that everybody buying now is still an early adopter).

most of us are mad we didn't put more disposable income wasted on crap like video games into bitcoin.



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April 03, 2013, 07:52:50 AM
 #35

most of us are mad we didn't put more disposable income wasted on crap like video games into bitcoin.

A good lesson on why savings is good.

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April 03, 2013, 07:53:30 AM
 #36

predicting 300$ by 15 april
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April 03, 2013, 07:54:22 AM
 #37

Uh... to avoid taxes, when you convert to fiat, don't deposit everything into your bank account. Or, just don't cash out in big amounts, sell local or OTC as you need if you need to pay for something in fiat.

Bitcoinstore.com sells a whole bunch of stuff in bitcoins.

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April 03, 2013, 07:57:38 AM
 #38


Crazy fast exponential growth with endless WTF.
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April 03, 2013, 07:58:13 AM
 #39

most of us are mad we didn't put more disposable income wasted on crap like video games into bitcoin.

A good lesson on why savings is good.

I'm not mad. I invested what I could without going overboard, and it's paying off at insane levels.
If I didn't buy mining rigs and I would have used tht money to buy BTC directly I'd have even more bitcoins. Do I regret doing it? not for a second. Seriously, the only complain people can have in this kind of market is either not buying earlier, or selling sooner than they should.
but it's hard to lose money in this kind of bullish market, if anything, you lost chances of making more money.

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April 03, 2013, 08:00:28 AM
 #40

I've mined for awhile at this point and was happy to see $3, $5, and by gosh, $10.  It had to be cashed since it also paid for office rent.  But at the same time, well, that's hindsight for you.  I'm sure we all would've loved to hold onto coins if we bought or mined them at $2 or whatever "cheap" price now.

But as someone said yeah, you can always cash-out what you put in and sit on the rest.   You may lose a few bucks (or a decent amount) in Intraday at the rate this is climbing but you've earned your investment back.  

I'm scared...

But no I do think we'll keep going up for awhile since as was said, the true power of this global money is being shown.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
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