Up to 4174 a while ago. This really is insane.
Up to 4174 a while ago. This really is insane.
Reached over $4200 on Kraken last night.Originally Posted by J Sousa
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?
Poverty
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.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.
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.
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
Last edited by NaturalBornHustler; 08-14-2017 at 02:26 PM.
any guesses as to what's going to happen from here? lol
BALLIN'!!
Looks like market is correcting slightly...!!
BALLIN'!!
WHAT IN THE FUCK
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
i had absolutely no idea the fbi had shut them down almost 3 weeks ago...? did i literally erase this from memory or something?
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
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.
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.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
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:
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.
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.
Excellent point! Totally means nothing if it crashes, especially to everyone who bought after it was long past "6 cents".
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.
[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.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
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.
Last edited by Charham; 08-25-2017 at 02:49 PM.
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