Bitcoins are officially donkdown

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Originally Posted by Dan Druff

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Originally Posted by chinamaniac

I had some BTC on there and I am glad I did not get any BCH

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Why are you glad?

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Because I believe I would have gained a small amount and now I can root against it to fail and so far so good, I believe it tanked like 40 % yesterday and BTC is mooning

Also you can still get the BCH I believe

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Originally Posted by snake_in_the_ass

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Originally Posted by Krypt

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Originally Posted by chinamaniac

+1300

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Originally Posted by monsterj

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Originally Posted by Sanlmar

Insult high finance? Is that even possible?

Have you ever read Liars Poker?

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Don't worry, he knows not what he says.

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Originally Posted by Krypt

MEN'S WIMBLEDON 2017 - OUTRIGHT WINNER ROGER FEDERER +200

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Originally Posted by chinamaniac

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Originally Posted by chinamaniac

+1300

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+1920

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GO FUCK YOURSELVES

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Bitcoin up $1000 per coin since this post. LMAO.

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Make that $1230 per coin. Krypt don't know Crypto.

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Originally Posted by snake_in_the_ass

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Originally Posted by snake_in_the_ass

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Originally Posted by Krypt

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Originally Posted by monsterj

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Originally Posted by Sanlmar

Insult high finance? Is that even possible?

Have you ever read Liars Poker?

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Don't worry, he knows not what he says.

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Originally Posted by Krypt

MEN'S WIMBLEDON 2017 - OUTRIGHT WINNER ROGER FEDERER +200

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Originally Posted by chinamaniac

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Originally Posted by chinamaniac

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Originally Posted by sonatine

Bitcoins are officially donkdown

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+1300

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+1920

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GO FUCK YOURSELVES

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Bitcoin up $1000 per coin since this post. LMAO.

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Make that $1230 per coin. Krypt don't know Crypto.

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FYP

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Originally Posted by Dan Druff

I love how anyone with BTC on any kind of wallet like blockchain.info won't be getting any Bitcoin Cash.

I know why, but it still sucks.

Lame.

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Not that I have a huge BTC portfolio, but I was pretty annoyed that Coinbase reversed course on this after I had moved my money into a wallet. Oh well.

"Chip makers are officially donkdown" -- Translation into tinespeak of some hedge fund managers not too long ago who didn't understand the potential for bitcoin popularity to fuck with their stock shorting picks.

Bitcoin's meteoric rise is costing some investors billions
http://www.businessinsider.com/bitco...e-funds-2017-8

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Originally Posted by MumblesBadly

"Chip makers are officially donkdown"

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https://media.tenor.co/images/9112ee...dca0/tenor.gif

For someone who knows very little about the actual mining process can somebody explain why bitcoin mining occurs through gpus and not cpus?

If its too technical don;t waste your time responding to my post...

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Originally Posted by BetCheckBet

For someone who knows very little about the actual mining process can somebody explain why bitcoin mining occurs through gpus and not cpus?

If its too technical don;t waste your time responding to my post...

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GPUs can handle a tremendous number of small calculations while CPUs are designed to handle a lesser number of 'deep' calculations, in so many words.

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Originally Posted by Dan Druff

I love how anyone with BTC on any kind of wallet like blockchain.info won't be getting any Bitcoin Cash.

I know why, but it still sucks.

Lame.

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I don't think this is true - they give you the recovery phrase so the process for "getting" your forkedcoin should be the same with any other wallet.

https://www.reddit.com/r/bcash/comme...ininfo_wallet/

http://m.jpost.com/Diaspora/BitCoen-...or-Jews-501885

BitCoen

BITCOINS ARE DONKDOWN YALL

:lol2

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Originally Posted by Kilgore Trout

http://m.jpost.com/Diaspora/BitCoen-...or-Jews-501885

BitCoen

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Considering the history of Jews and financial crimes, I think BitCon would be a more appropriate name.

How much are most of these bitcoin ATMS charging for BTC? I saw one that said 3k max per day but no idea what the fees are

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Originally Posted by snake_in_the_ass

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Originally Posted by Kilgore Trout

http://m.jpost.com/Diaspora/BitCoen-...or-Jews-501885

BitCoen

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Considering the history of Jews and financial crimes, I think BitCon would be a more appropriate name.

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My concern, given the history of segregation of Jews and non-Jews since the days of Nehemiah, that Bit-currency will further fork, resulting in BitGoyem.

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Originally Posted by chinamaniac

How much are most of these bitcoin ATMS charging for BTC? I saw one that said 3k max per day but no idea what the fees are

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Did you see this ATM in person or online? The ATM will not tell you directly what the fees are, instead it will just show you the marked up price. As an example, if you owned an ATM and wanted to charge a markup of 10% and BTC was at $3000, then the machine would say "1 BTC = $3300." So you basically have to crunch the numbers yourself, just compare the price on the screen with the price at Bitstamp.

A great resource is www.coinatmradar.com. They have every BTC ATM in the world on a map. The machines I have in production have a feature where I can send real time info to coinatmradar.com so potential customers can see exactly what I sell BTC at. Some operators choose to disable this option intentionally because they have a huge fee. They are hoping you go and check it out and use the machine since you are already there.

As far as the markup goes, it is between 6% - 25% in Los Angeles. The 25% markups are in the poor areas and I guess the folks who use those have no means of transportation to get to a cheaper ATM. Or maybe it is not worth it for them if they only want $20 worth of BTC. They would rather pay the 25% instead and get it over with.

The one you probably saw is owned by Coinsource. They are the biggest in the USA and they have strict limits. $1-$800 requires SMS verification (fake numbers like google voice won't work) & $801-$3000 require a scan of your ID. Other operators claim to have limits but really don't. It might be $3000 per Bitcoin address but you can just get a new address from your app and get another $3000.

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Originally Posted by Sanlmar

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LedgerX becomes the first regulated bitcoin options exchange
CFTC authorized company to provide clearing services for swaps

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Regulated Bitcoin options & swaps will be available this fall. We can finally short without getting screwed by some shady exchange.

Fuck the NFL

Hope they aren't DD before then. That would be just my luck.

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They want to see 10 million in assets to go unhedged.

No one knows how liquid they would really be yet so the spreads could be stupid.

Woulda been fun. FFS

As an aside, I know a guy (kid) whose company got a gig marketing Tokes (crypto) in Vegas. That'll be interesting to follow.

$3640. Up $1700 since Krypt declared BTC dead. He is waiting on the sidelines for it to dip again before he posts in this thread.

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Originally Posted by snake_in_the_ass

$3640. Up $1700 since Krypt declared BTC dead. He is waiting on the sidelines for it to dip again before he posts in this thread.

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I was seriously considering buying a substantial amount of btc when it was 300 ish and now im kicking myself in the ass. Could of had around 30 bitcoins.

I too want it to go donkdown so i can selfishly feel like i made the right choice, but i could seriously see it going up to 10k per bitcoin.

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Originally Posted by Mintjewlips

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Originally Posted by snake_in_the_ass

$3640. Up $1700 since Krypt declared BTC dead. He is waiting on the sidelines for it to dip again before he posts in this thread.

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I was seriously considering buying a substantial amount of btc when it was 300 ish and now im kicking myself in the ass. Could of had around 30 bitcoins.

I too want it to go donkdown so i can selfishly feel like i made the right choice, but i could seriously see it going up to 10k per bitcoin.

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Nobody knew that BTC was going to go nuts like this. Even Druff famously sold his small stash at the exact bottom of $250 per coin. Krypt is going to pound his chest on the next selloff, I can guarantee that.

Big $XXX pull back forming.

After all why pump if you can't dump :)

Ill sit on the side lines a bit and jump back in big should it see sub $3k again.

Unless that happens Ill stick with my ETH and BCC for now. BTC was great but it is scary high and as of today for no gosh darn reason, hence the scary part.

Up to 4174 a while ago. This really is insane.

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Originally Posted by J Sousa

Up to 4174 a while ago. This really is insane.

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Reached over $4200 on Kraken last night.

It really is insane for many reasons like (no real change tbh, segwit2x expectation will not happen, not used anymore by anyone in any setting besides criminal) and so on.

The hype will hit a wall soon and dump, I would rebuy the dump for sure because another pump will happen, question is how low it will go.

I love how the bitcoin faithful use a price increase as evidence of adaptation to mainstream when it doesn't mean that at all, it means Asians are having a ton o fun! And they all want their cash money in the end, not BTC.

What is just above hood rich?

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Originally Posted by jacosta24

What is just above hood rich?

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Poverty

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Originally Posted by DonaldTrumpsHairPiece

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Originally Posted by J Sousa

Up to 4174 a while ago. This really is insane.

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Reached over $4200 on Kraken last night.

It really is insane for many reasons like (no real change tbh, segwit2x expectation will not happen, not used anymore by anyone in any setting besides criminal) and so on.

The hype will hit a wall soon and dump, I would rebuy the dump for sure because another pump will happen, question is how low it will go.

I love how the bitcoin faithful use a price increase as evidence of adaptation to mainstream when it doesn't mean that at all, it means Asians are having a ton o fun! And they all want their cash money in the end, not BTC.

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I thought I missed the boat at around $2600 and it wasn't going much higher anytime soon, I hope to God it crashes hard so I can get in around that price again.

I read somewhere the bulls see $7500 in the not so distant future. This is crazy.

Edit: Cuban just said it is a bubble. I'm back out on Bitcoin again SMH.

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Mark Cuban‏ Verified account @mcuban 8m8 minutes ago
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Exactly. Same as internet stocks were. Everyone had a $$$ story. When the $ inflows stop, things go bad. You just don't know when or why

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any guesses as to what's going to happen from here? lol

:popcorn

Looks like market is correcting slightly...!!

WHAT IN THE FUCK

i had absolutely no idea the fbi had shut them down almost 3 weeks ago...? did i literally erase this from memory or something?



https://steemitimages.com/0x0/https:...qyVYAAczop.jpg

Just because some super-rich folks invest in something doesn't mean it will be a success, right?

Mark Cuban is backing a new cryptocurrency fund months after calling bitcoin a 'bubble'
http://www.businessinsider.com/mark-...cy-fund-2017-8

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

https://youtu.be/by1OgqQQANg

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Originally Posted by NaturalBornHustler

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

https://youtu.be/by1OgqQQANg

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not to mention with all the people actually using bitcoin, a significant part of the narrative involves a middleman charging an outrageous fee to provide currency ingress, egress, and transit.

which literally obliterates the whole original point of bitcoin.

not a new point of course but worth keeping on the radar.

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Originally Posted by NaturalBornHustler

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

https://youtu.be/by1OgqQQANg

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Peter Schiff is a crook. He created a brokerage firm called Euro Pacific Capital and then got on CNBC trying to scare people into signing up with his firm. He wrote books on how the U.S. Dollar would crash and how gold, silver, oil and other commodities would soar to the moon. There is a famous video of him on CNBC saying that oil was going to $200/barrel when it was trading at $110. It then crashed to low $40's: https://www.youtube.com/watch?v=D-NBkoy277Y

By the way, those who signed up with Euro Pacific Capital brokerage ended up getting fucked. They had to pay 4-5% fee to buy his recommended mutual funds. And he recommended a lot of foreign stocks that had a 3-5% commission! What else do you expect from a Jew? You can read the reviews here:
https://www.yelp.com/biz/euro-pacifi...-newport-beach
And his stock recommendations were horrible. The biggest bull market in history and his clients were getting negative returns.

Back to Bitcoin. It has gone from 6 cents to $4440 and not once did he ever tell anyone to invest in it. So now he is a genius for calling it a bubble? LOL.

If you are buying Bitcoin to buy a sack of weed or to send money to bookmaker, does it matter if it is a bubble? I think not.

https://www.youtube.com/watch?v=LzGmLDDE2Ss

https://www.cnbc.com/2017/08/24/bitc...inflation.html

Here comes the IRS!

https://www.thestreet.com/story/1428...ampaign=buffer

Uncle Sam has Bitcoin traders on the radar these days, as the cryptocurrency passes $4,300 in late August trading.

With more assets pouring into digital currencies, the federal government, via the Internal Revenue Service, is looking to get its fair share from Bitcoin -- a cut that the IRS doesn't believe it's been getting until now.

That could change, and fast, as the IRS is using a software program that monitors Bitcoin-based digital addresses, in a campaign to identify potential tax evaders.

Using a customized software program from Chainalysis, a blockchain data analysis firm in New York City, the IRS expects to extract more intelligence -- and potentially more fraud -- from virtual currency movements through the blockchain and centralized currency exchanges. Chainalysis says it's able to track approximately 50% of all Bitcoin activity, and 4 million additional Bitcoin addresses, more than enough to get an accurate gauge on who's hiding cash from the IRS.

"The IRS is under pressure to increase compliance in digital coin tax reporting based on an audit done by the US inspector general, and has taken other steps to identify unreported digital currency transactions such as a John Doe request of Coinbase and a survey of filed returns," explains Randy Tarpey, a digital currency tax specialist at Sickler Tarpey & Associates, in Tyrone, Pa.

With no third-party tax reporting to the IRS currently available, the agency has no automatic way to enforce or encourage tax reporting compliance other than 1099-K reporting which only covers a few taxpayers, Tarpey says. "While taxpayers can initially avoid reporting digital coin transactions the blockchain is public, and once enforcement begins, transactions are easily obtained," he notes.

The nature of Bitcoin makes it difficult to track in some respects, says Dean Anastos, CEO at Blockchain Developers in New York City.

"Bitcoin itself is based on technology that makes its ledger public," Anastos says. "Essentially all the transactions taking place within its infrastructure is viewable by anyone analyzing the blockchain."

But what's not so easily identifiable is the user themselves, he says.

"However, the IRS would always have the capability to track the transactions to a possible point of sale where the delivery of a product or service has taken place for the particular Bitcoin user being scrutinized," Anastos explains. "But this particular strategy doesn't work well with Bitcoin users who are able to make use of something called tumblers - blockchain services that obfuscate the source of transactions by mixing them up with other transactions, making it difficult to trace transactions."

Big Investors Are Taking Issue With Hong Kong's Dual-Class Share Proposal
"The promise of cryptocurrency was a paperless, transparent, but anonymous way of conducting financial transactions," states Norm Pattis, a best-selling legal author and a cryptocurrency specialist. "Needless to say, taxing authorities find that threatening, and the regulatory net is tightening."

Bitcoin is regarded as property and not a currency by the IRS, Pattis explains. "As property, it is taxable as a capital gain when converted into cash or a cash equivalent," he says. "Given Bitcoin's volatility, determining the tax basis will be a headache for those who dip in and out of the Bitcoin market."

As Bitcoin becomes more popular and is trusted as a medium of exchange, the federal government will no doubt come to regard it as income, Pattis adds. "Nothing of value lies beyond the grip of the taxman for long," he says. "The whining you hear coming from your computer is Bitcoin gasping for breath as the taxman squeezes."

There are ways to avoid the taxman, Pattis says. "While tracing IP addresses will snare the causal user of Bitcoin, those determined to cover their tracks can use scrambling devices and the dark net to evade detection," he says.

The Bitcoin exchanges can provide more transparency to thwart fraudulent activity, Tarpey says, and help keep the Bitcoin market clear of tax cheats.

"Bitcoin is typically taxed as property and reported annually on Schedule D as capital gain or loss when Bitcoin is cashed in," he states. "Bitcoin that is not cashed is not taxed until the gain or loss is realized. Miner Bitcoins are taxed as business revenue when transferred to the miner."

But exchanges could and should report gains or losses on IRS Form 1099-B, just like stocks and bonds. "This small change would assist taxpayers to comply with tax law they may be unintentional overlooking," Tarpey adds.

"Digital currency is growing rapidly and has many valid uses and avid supporters. Tax filing for digital currency needs to be improved for everyone's benefit," Tarpey says.

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Originally Posted by snake_in_the_ass

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Originally Posted by NaturalBornHustler

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

https://youtu.be/by1OgqQQANg

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If you are buying Bitcoin to buy a sack of weed or to send money to bookmaker, does it matter if it is a bubble? I think not.

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Excellent point! Totally means nothing if it crashes, especially to everyone who bought after it was long past "6 cents".

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Originally Posted by chinamaniac

https://www.youtube.com/watch?v=LzGmLDDE2Ss

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[x] an RT interview
[x] a shit eating libertarian murderer's opinion

Either one of these on its own is enough to make me opposite pick whatever point of view is on the table.

i haven't used coinbase in a long time, just transferred some money out and it was asking me if I was sending to another bitcoin institution? some US regulatory requirement. IRS I am sure. does a blockchain account meet this requirement? i said no, but can coinbase track it? i have no way no knowing if blockchain is covered, but don't like it. oh and unrelated, i hope, coinable is "experiencing delays" grrr. kind of expect instantaneous in the bitcoin world. UPDATE, so everything went through. ill update if i learn any more about the coinbase disclosure stuff.