bitcon
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Activity: 2212
Merit: 1008
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June 02, 2013, 09:13:09 PM |
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if my memory serves me - there was a big selloff around or on the 1st of May also. coincidence?
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ISAWHIM (OP)
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June 02, 2013, 09:18:02 PM |
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if my memory serves me - there was a big selloff around or on the 1st of May also. coincidence?
LOL, for the longest time, (two years ago), I kept calling Bit-Coins... "Bit-Cons".... (Thinking of "convicts" and "conventions".) Saying to everyone... it's a scam, it isn't going anywhere, without actually understanding what it was. Yes, 1st and 15th of every month. (bi-weekly{month} "payouts")... Also, Wednesday seems to have a lot of "payouts", weekly earnings selling BTC to make payments... Friday and Saturdays seems to be more "buying" BTC than selling (sales/market users)... Saturdays and Sundays seems to be a lot more "trades", since the "normal markets are closed on the weekends". (For traders.) |
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zoinky
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June 02, 2013, 10:01:25 PM |
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if my memory serves me - there was a big selloff around or on the 1st of May also. coincidence?
Miners need to pay bills and eat sometime. |
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naphto
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June 02, 2013, 10:09:22 PM |
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if my memory serves me - there was a big selloff around or on the 1st of May also. coincidence?
Miners need to pay bills and eat sometime. They can do that with bitcoins. Oh, wait! |
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chriswilmer
Legendary
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Activity: 1008
Merit: 1000
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June 02, 2013, 10:11:12 PM |
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meangreen, I think you are misunderstanding the others here.
The point is that if you have $120 and you plan to spend them ALL on bitcoins, at whatever price, then it makes a big difference at what price point you get it.
If bitcoins are $100, then you buy 1.2 bitcoins (for $120).
If bitcoins are $120, then you only get 1 bitcoin (for $120).
When bitcoins are $1000, the extra 0.2 bitcoins from buying at lower price is a big chunk of money.
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MooC Tals
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June 02, 2013, 10:16:41 PM |
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I like the "stand-off" now... lol...
Buyers moving the "Bid" to just under 119/btc...
Sellers moving the "Ask" to just over 119/btc...
Obviously, the one cashing-out has a limit/wish of getting at-least $119/btc...
Makes more popcorn, extra salt, extra butter...
Doesn't look so vicious on the 6-month chart. (That is when I start to freak.)
I knew something like this was going to happen... The "volume" of trades is sadly, the same as what it was, when bitcoins were only $13/btc... (That solidifies that the next price-point will be $1000... When we go full-tilt ASIC mining.)
$1-$10 = CPU mining
$10-$100 = GPU mining
$100-$1000 = ASIC mining
$1000-$10000 = NEURAL mining
$10000-$100000 = SOUL mining
$100000-$1000000 = GALAXY mining
lol BFL has started Galaxy class miner pre-orders. If you pre-order now they will have it delivered in the week of... |
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freedomno1
Legendary
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Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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June 02, 2013, 10:21:25 PM |
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So bull time  |
Believing in Bitcoins and it's ability to change the world
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smoothie
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Activity: 2492
Merit: 1474
LEALANA Bitcoin Grim Reaper
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June 02, 2013, 10:33:04 PM |
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Oh, about the "hitting $1000" thing...
Smart-butt... If you get 1BTC now, at $120, you could wait until it hits $1000... but 6-months is a long time to wait for an $880 gain.
LOL i disagree. 6 month wait time to get a 400%+ gain is worth it to not trade. |
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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vokain
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Activity: 1834
Merit: 1019
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June 02, 2013, 10:33:55 PM |
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Oh, about the "hitting $1000" thing...
Smart-butt... If you get 1BTC now, at $120, you could wait until it hits $1000... but 6-months is a long time to wait for an $880 gain.
LOL i disagree. 6 month wait time to get a 400%+ gain is worth it to not trade. sleep is priceless  |
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smoothie
Legendary
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Activity: 2492
Merit: 1474
LEALANA Bitcoin Grim Reaper
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June 02, 2013, 10:34:53 PM |
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Oh, about the "hitting $1000" thing...
Smart-butt... If you get 1BTC now, at $120, you could wait until it hits $1000... but 6-months is a long time to wait for an $880 gain.
LOL i disagree. 6 month wait time to get a 400%+ gain is worth it to not trade. sleep is priceless +1 |
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███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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BitcoinAshley
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June 02, 2013, 10:48:26 PM |
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if my memory serves me - there was a big selloff around or on the 1st of May also. coincidence?
Miners need to pay bills and eat sometime. They can do that with bitcoins. Oh, wait! Actually, your reply is really funny, because although you intend sarcasm: BillPay for Coins - Pay bills using Bitcoins! http://billpayforcoins.com/ Foodler - over 12,000 Foodler-participating restaurants now accept bitcoins! https://www.foodler.com/user/Bitcoin.do I know BillPayforCoins and Foodler are only a first step, but long gone are the days when we can easily pass off statements like "Bitcoins are nice but you can't actually do anything with them." That sentiment is becoming increasingly less valid. |
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flavius
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Activity: 154
Merit: 100
welcome to riches
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June 02, 2013, 11:39:53 PM |
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you have to do a lot more than 2.5 million to move the price by 20+ dollars
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crime generates tenfold more money then real businesses do in bitcoin. the fact you cant accept this just makes you a kike
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.
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Abandon
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Activity: 112
Merit: 10
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June 03, 2013, 02:22:27 AM |
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you have to do a lot more than 2.5 million to move the price by 20+ dollars
If you time it right, you can start a rally to get the price up $20+ easy. |
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DoomDumas
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Activity: 1002
Merit: 1000
Bitcoin
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June 03, 2013, 12:08:25 PM |
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With millions of dollars pledged from venture capitalists and they themselves buying up chunks of Bitcoin, there is quite a solid footing already.
Indeed.. quite exiting to see almost 5M$ sell order doing less than 10% variation in the market price ! I'm wondering what a 5M$ sell order would have done to the price 6 month from now ! Bitcoin is in a bigger game now, and it's only the begining.. still a quite new technology ! Let's bet.. look at my signature,, |
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Oldminer
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Activity: 1022
Merit: 1001
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June 03, 2013, 12:17:48 PM |
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dragony
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June 03, 2013, 12:30:13 PM |
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I think all of you guys are speculating about what caused this big sell-off thus it was simple cashing out by Colombian drug cartels
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bullioner
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June 03, 2013, 02:16:53 PM |
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tl:dr If he sold at a profit, he owed tax regardless of his strategy.
You appear to be making assumptions about the tax jurisdiction the person is subject to. Perhaps it is a jurisdiction without capital gains tax. |
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BitcoinAshley
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June 03, 2013, 05:12:59 PM |
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If ANY drug cartels were using bitcoin on a semi-serious basis, price would be MUCH higher than $120  |
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Pale Phoenix
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June 03, 2013, 08:04:23 PM |
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You appear to be making assumptions about the tax jurisdiction the person is subject to. Perhaps it is a jurisdiction without capital gains tax.
If there was a jurisdictional assumption, it was not made by me, but implicit in the post I was responding to. I was just pointing out that capital gains tax considerations wouldn't influence the strategy as described. |
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