Can Bitcoin Rebound?

[cyberpinoy]

Ok this post is for people who have the slightest intelligence in business economics, and a portion of intelligence in Currency Trading, so if you have neither dont even bother replying because I will call you out on your bullshit.


Knowing business we know what about this time of year? We know huge corporations and businesses need a way to hide large amounts of money. To make a purchase and list it in the books but still have their money somewhere. Because of tax season coming up and 4th quarter fiscal, they need to hide money Anonymously. SO why has the value of bitcoins not gone up? What better way to anonymously hide money, make a legal purchase that can be shown in the books other than buying bitcoins? But it seems no one is doing this, and will not be doing it this year.


I had expected a pretty big jump last week as that is usually when companies have finalized what they would be ding to hide the cash they needed hidden. A lot of companies use the forex market to do this, however it is trackable for profits, so they would still be paying taxes on the money they earn while hiding it. But bitcoins is no a currency or on the forex, they can easily buy a bunch of bitcoins and hide their cash without paying taxes on the earnings made from it. Once they begin passing laws over bitcoin this will not be possible, but right now it is very feasible to buy bitcoins with a legal transaction on the books that no one knows in the IRS what really was bought. They will just see a purchase for X amount of dollars.

[caribbeanbitcoiner]

Rebound from what, even if 1 BTC = 1 USD Bitcoin still works and solves a problem.

[cyberpinoy]

Rebound from what, even if 1 BTC = 1 USD Bitcoin still works and solves a problem.

Seriously bro you are not that naive are you? I should have self moderated this thread for stupidity like this!

[bitcoin_bagholder]

People are scared of the volatility. Hide money in Bitcoin and the depreciation could be far costlier than the tax savings.

Rebound? ----------> ATH?

Sure. Block halving, ETF. Bring it on!

[Possum577]

Why do you think a significant amount of companies would want to hide their hard earned profits in the wildly unpredictable Bitcoin when they can keep it in their own currency in Cayman Island bank accounts?

[Possum577]

And the corporate cash is only hidden when it's in Bitcoin, as soon as its converted back into fiat (repatriated) it's on the record and the IRS can take their share.

This is a naive discussion, no?

[Jamie_Boulder]

Local governments are a lot more aware about Bitcoins than you think, you make it sound so simple...

If a billion dollar company is dumb enough to start hiding all their money into volatile assets I would question how they got there in the first place.

[ChuckBuck]

The real question is "Why wouldn't Bitcoin rebound?".  It can and should rebound.  It did after Gox, after Shrem, after Ulbricht, after Silk Road, after Russia and China banning it for the umpteenth time.

As far as companies and corporations stashing away large amount of money in Bitcoin unreported or unrecorded "off the books"...I'm no accountant, but I'm pretty sure that's illegal in any book.

I've never committed this and don't work for FINCEN or FINRA or the IRS, but I'm pretty sure this would be categorized as Money Laundering.

[TrailingComet]

Bitcoin will hit four digits again in the next 6 months or so. The technology is way undervalued at current levels.

[dopecoindude]

Bitcoin will hit four digits again in the next 6 months or so. The technology is way undervalued at current levels.

this ^^

[Q7]

What you say it's true BUT don't forget when the money get stashed away, eventually when the right time comes, you will still need to convert it back to fiat in order to spend. There are so many limitations right now on what you can buy with bitcoin. And what a coincidence that it's the holiday season right now and time to take the flight and go somewhere else in the caribbean to enjoy your life

[jsgayo]

Of couse.I belive it to the moon.

[cbeast]

Bitcoin will hit four digits again in the next 6 months or so. The technology is way undervalued at current levels.

this ^^

I do too, but only for qualified investors unless unless you work for your bitcoins. The days of unregulated trading will go away like torrent trackers and SR. Get them before the exchanges require a brokers license.

[bluemountain]

Bitcoin is digital gold take that as you will.

[Lauda]

Why would it not?
Go make B.G. invest $1B in Bitcoin and I'll eat, wait no, swim in popcorn in my backyard while watching the price ticker.

[TheTribesman]

You sure we're not riding this crazy horse straight to hell? All the smart money may have already been made, taken, and banked.

Blockchain, and blockchain technologies, may be the way the industry/community is heading. History might regard bitcoin and other altcoins as an early by-product left at the roadside when blockchain technology matured (losing many people and institutions millions in the process).

This forum may be the last death throes of bitcoin/alts as the currency side of the technology gets dumped for the true advancements possible from blockchain technology.

Just a thought. A FUD thought.

[Lauda]

You sure we're not riding this crazy horse straight to hell? All the smart money may have already been made, taken, and banked.

Blockchain, and blockchain technologies, may be the way the industry/community is heading. History might regard bitcoin and other altcoins as an early by-product left at the roadside when blockchain technology matured (losing many people and institutions millions in the process).

This forum may be the last death throes of bitcoin/alts as the currency side of the technology gets dumped for the true advancements possible from blockchain technology.

Just a thought. A FUD thought.

There is no way to go to hell. A currency is made to be used. It is not an investment.
As long as you see Bitcoin in the eyes of dollars, euroes.. you're looking at it in a very limited and wrong way.

[TheTribesman]

You sure we're not riding this crazy horse straight to hell? All the smart money may have already been made, taken, and banked.

Blockchain, and blockchain technologies, may be the way the industry/community is heading. History might regard bitcoin and other altcoins as an early by-product left at the roadside when blockchain technology matured (losing many people and institutions millions in the process).

This forum may be the last death throes of bitcoin/alts as the currency side of the technology gets dumped for the true advancements possible from blockchain technology.

Just a thought. A FUD thought.

There is no way to go to hell. A currency is made to be used. It is not an investment.
As long as you see Bitcoin in the eyes of dollars, euroes.. you're looking at it in a very limited and wrong way.

Not at all. I'm not looking at it in any way in relation to dollar/euro etc. I don't see how my post gave that impression.

What if bitcoin is just a side attraction we've all gotten distracted by on the way to the true technological advancement - The Blockchain

I'm not comparing anything or seeing it in the eyes of investment return. Bitcoin may be a massive distraction (because people want to be rich - whether in fiat or crypto terms) that's blinded people to the advancements possible with blockchain technology.

[Oscilson]

BTC is too volatile to keep money in. The market capitalization is too small for big companies.

[bitcoinmining]

The rebound has just started from $310 to $330, who knows maybe we can see $350 again in few days