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Author Topic: This graph says you should get in now  (Read 4637 times)
Elwar
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November 19, 2014, 01:37:36 PM
 #21

Obviously the government does not know I have bitcoins, but how do I declare bankruptcy when I still have a lot of stuff? The banks will probably want to take my car first, or hold me to a payment restructuring, or simply just black list me.

Don't worry so much about stuff...and things like credit ratings.

And don't own a car that you aren't willing to just leave on the side of the road and go get a new (cheap) one.

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Dabs
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November 19, 2014, 02:36:59 PM
 #22

Don't worry so much about stuff...and things like credit ratings.

And don't own a car that you aren't willing to just leave on the side of the road and go get a new (cheap) one.

I actually have a decent credit rating. That's why I was able to take out several loans. I just wish I took them in 2011 or 2012 and bought as much as I could, or mined as much as I could, or sold a pizza.

Now, as long as the BTC can pay back the loan, I think that's much safer than ignoring the bank.

I'm going to be in a position where I can abandon where I live and move to another country. But I wouldn't want to intentionally do that to a bank.

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November 19, 2014, 02:56:04 PM
 #23

The graph maybe, but not the facts. We are about to get another coin auction, so lower prices incoming

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November 19, 2014, 03:04:14 PM
 #24

EuroTrash

....lol nuff said




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var53
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November 19, 2014, 03:11:16 PM
 #25



Obviously the government does not know I have bitcoins, but how do I declare bankruptcy when I still have a lot of stuff? The banks will probably want to take my car first, or hold me to a payment restructuring, or simply just black list me.

Withdrawing to your bank account might let the government know you have money from the sale of bitcoins.

If you withdrew between $5000 and $10000 from an exchange into your bank account through a wire transfer then in some countries the bank may be obliged to tell the government/tax man about it.

This link explains how it works in the US.

https://answers.yahoo.com/question/index?qid=20100304070056AAxEgiq

There are two main reporting requirements for banks. The first and most common, with more than 15 million being filed in calendar year 2007, is the currency transaction report, or CTR. These are triggered simply because of the size of the transaction. The second type is called a suspicious activity report, or SAR, and is filed when the bank "knows, suspects, or has reason to suspect" that a transaction of at least $5,000 involves money derived from illegal activities or is part of a plan to violate federal laws and financial reporting requirements.

These wikipedia links go into more detail on currency transaction reports, and suspicious activity reports.

http://en.wikipedia.org/wiki/Currency_transaction_report

http://en.wikipedia.org/wiki/Suspicious_activity_report
Biodom
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November 19, 2014, 04:23:42 PM
 #26

So, can someone translate this into how much will BTC be worth at a certain date? What are your projections every month for the next couple of years?

Buy and hodl.
prediction: >500 before 2015, >1000 before 2016

I already did that. I don't recommend anyone else to do what I did. I'm optimistic, but at least I'm taking all the risk. What I did is borrow the money from a fiat bank to buy the bitcoins. I intend to pay them off over the next 5 years. My hope is that my loan is fully paid by that time, while I still hodl close to the original number of BTC I bought.

In the worst case, I pay off the amortization from my own money, but I have already bought the bitcoins.

I'm waiting for a couple more banks to follow up with their offers.

Very rational decision. I withdrawn my pension fund in June 2013 and bought bitcoins. The rest is history.

did you at least refund part of cap gains into some sort of a pension fund or brokerage account when bitcoin was $1000-375? It would have made sense. Roth or something like this. I think Risto's "sane savings plan" also makes sense
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November 19, 2014, 06:59:05 PM
 #27

(if you haven't done so already)



Red line = Est. on-chain daily USD transaction volume divided by 200000.


100k+ peak sometime in 2017. I could live with that.
I could sign that with my blood and tears.

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November 20, 2014, 01:56:35 AM
 #28

Withdrawing to your bank account might let the government know you have money from the sale of bitcoins.

If you withdrew between $5000 and $10000 from an exchange into your bank account through a wire transfer then in some countries the bank may be obliged to tell the government/tax man about it.

Fortunately, I have a lot of noise in my bank accounts, amounting to many times more than my current bitcoin holdings. Also, none of the money coming in to my accounts have ever been directly from any international exchange. (local ones, yes, but they do cash deposits.)

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EuroTrash
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December 01, 2014, 04:14:26 PM
 #29

Second reminder.


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FreeBambi
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December 01, 2014, 04:45:07 PM
 #30

I did like you told me on 17th, sold all my school books & invested like you said.  Got margin called a few days later so my moneys gone and schol isnt going to gud. I now my moms credet card stuffs so i coud buy more bitcoin on circle.com but i got to be real shur this time.

Are you super shur this time, EuroTrash?
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December 01, 2014, 04:51:56 PM
 #31

Interesting metric but I dont think its more than a correlation.
EuroTrash
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December 01, 2014, 05:38:37 PM
 #32

I did like you told me on 17th, sold all my school books & invested like you said.  Got margin called a few days later so my moneys gone and schol isnt going to gud. I now my moms credet card stuffs so i coud buy more bitcoin on circle.com but i got to be real shur this time.

Are you super shur this time, EuroTrash?


Lol  Cheesy

Who needs school books when you can just get rich by trusting someone on a forum.
Of course I am sure. Go ahead. Either way you're about to learn a lesson.  Wink

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Nicholas-Carraway
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December 01, 2014, 05:44:20 PM
 #33

School sucks!
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December 01, 2014, 06:53:53 PM
 #34

A pincher in the weekly MACD. Things can get exciting in the next few weeks.

http://bitcoincharts.com/charts/chart.png?width=940&m=bitstampUSD&SubmitButton=Draw&r=730&i=Weekly&c=1&s=2012-11-08&e=2014-12-01&Prev=&Next=&t=S&b=&a1=SMA&m1=15&a2=EMA&m2=10&x=1&i1=RSI&i2=UO&i3=MACD&i4=MFI&v=1&cv=0&ps=0&l=1&p=0&


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Snipe85
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December 01, 2014, 08:00:04 PM
 #35

I just wish I'll experience another bitcoin bubble in my life, especially since I missed the last one  Tongue

Melbustus
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December 01, 2014, 08:36:08 PM
 #36

I just wish I'll experience another bitcoin bubble in my life, especially since I missed the last one  Tongue


It's funny - the bust periods (like most of 2014) are typically deeper than in other markets, but sorta feel the same; just a drawn-out slog. But the boom periods in bitcoin are like no other market. It's totally nuts.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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December 01, 2014, 08:54:33 PM
 #37

This 'finding' is remarkable, even if the constant was found experimentally. But I have problems with the fact that the in-chain transaction volume in USD does include transactions between the same person. This invalidate the whole point in my opinion, making this perhaps a case of 'data overfitting'.

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December 01, 2014, 09:08:15 PM
 #38

This 'finding' is remarkable, even if the constant was found experimentally. But I have problems with the fact that the in-chain transaction volume in USD does include transactions between the same person. This invalidate the whole point in my opinion, making this perhaps a case of 'data overfitting'.

It is possible to include only transactions where a fee was paid.  This may be a better metric.  If someone wants to send himself money, as long as a fee is paid to miners it's still a real transaction.
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