Papayas Posted March 27, 2014 Share Posted March 27, 2014 annnnd it's 480 and falling now Link to comment Share on other sites More sharing options...
Grapefruits Posted March 27, 2014 Share Posted March 27, 2014 (edited) annnnd it's 480 and falling now you must be so happy. Probably jumping in joy as a lot of people are losing a lot of money right now. time to buy! it's gonna shoot up soon... right!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!!!!!!!!!! Well when it dropped to $410 last time it did jump back up to almost $700, only time will tell. Edited March 27, 2014 by Grapefruits Link to comment Share on other sites More sharing options...
Papayas Posted March 27, 2014 Share Posted March 27, 2014 you must be so happy. Probably jumping in joy as a lot of people are losing a lot of money right now. Well when it dropped to $410 last time it did jump back up to almost $700, only time will tell. if those who are losing money has the mentality like you, then yes, i am pretty happy about it. You seriously still think bitcoin will jump back to 700 bucks without the whole china market pumping money into it? Link to comment Share on other sites More sharing options...
Grapefruits Posted March 28, 2014 Share Posted March 28, 2014 if those who are losing money has the mentality like you, then yes, i am pretty happy about it. You seriously still think bitcoin will jump back to 700 bucks without the whole china market pumping money into it? mentality like mine, nice. Well you'll be disappointed to know that overall I am still in the black when it comes to Bitcoin. Link to comment Share on other sites More sharing options...
Lancaster Posted March 28, 2014 Share Posted March 28, 2014 mentality like mine, nice. Well you'll be disappointed to know that overall I am still in the black when it comes to Bitcoin. Just because someone wins the lottery, it doesn't mean buying lotto tickets is a good investment. Link to comment Share on other sites More sharing options...
Papayas Posted March 28, 2014 Share Posted March 28, 2014 mentality like mine, nice. Well you'll be disappointed to know that overall I am still in the black when it comes to Bitcoin.and why would I care?the problem i have is when snake oil people STILL try to pitch how safe and good bitcoin is even when its price dropped for almost 100 dollar a pop in one day.You make a profit? great, keep it to yourself instead of still trying to lure people into this mess so you can make more profit when selling it.There are absolutely no logic behind actions like this other than "it happens to "insert stuffs", so bitcoins will go back to 700 bucks, so buy now!" Link to comment Share on other sites More sharing options...
Papayas Posted March 31, 2014 Share Posted March 31, 2014 Bitcoin Slips In The Wake Of The IRS’s Tax Decision Posted 4 hours ago by Alex Wilhelm (@alex) Microsoft Has Big Plans For Bing’s Entity Engine Earlier this week, the IRS decided that Bitcoin is property, not currency, setting in place aregulatory structure that could see users of the cryptocurrency forced to keep price score in a rapidly shifting market. Bitcoin had a rough time of it last week, asGigaOm reported, losing around 17% of its value. Part of that was tied to a rumor regarding Bitcoin in China, and part, I think due to the IRS’s decision. Prices have continued to slip through the weekend. Here’s a one month chart of Bitcoin, tracing four major exchanges: What gives? If you are forced to treat Bitcoin as a property, you must take capital gains into account whenever you make a purchase (transaction) with the stuff. I can’t improve onBloomberg’s take on the situation: Purchasing a $2 cup of coffee with Bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of gross income for the coffee shop. So as the price of Bitcoin tracks up and down, the user of Bitcoin for transactions would incur ever-shifting capital gains or losses with each purchase. These would have to be tracked carefully, and weighed, to tally up the final year-end score for tax purposes. This cuts at the value of stored gains, implied or realized, given that the government either wants a slice in the future, or has already laid claim to one. So when you see the current Bitcoin market cap, keep in mind that, at least in theory, a chunk of that belongs to Uncle Sam. (The vast majority of Bitcoin trades are executed in United States Dollars, implying heavy usage by United States citizens that fall under the purview of the IRS.) The idea of reporting the result of your Bitcoin activity to your government, as you can imagine, is somewhat antithetical to the idea that Bitcoin works outside of the realm of state actors — how can it be unregulated if it is regulated? Those who made vast dollar sums in 2013 as Bitcoin prices skyrocketed and are of United States’ citizenship have to decide whether to report the income and pay steep capital gains tax, or submit fraudulent tax returns. I doubt that many people who bought into Bitcoin for either fun or hope expected to have such a choice placed in front of them; are they prepared to find a way to track their precise dollar gains and report it properly? Some are calling for startups to merely bake a tracking feature into their wallets to track the capital gains tax of their users. That’s fine, but again not really in keeping with the ethos of Bitcoin, as least as well as I understand it. It’s worth keeping in mind that the bets being made on Bitcoin by technologists are predicated on the stuff becoming regulated enough that the United States government doesn’t become a foe — these are often US-based companies, after all. At the same time, if everything positive that is extra-technical is removed from Bitcoin — its pseudo-anonymity, its lack of government intrusion, etc — what Bitcoin is could be merely less than what had once been hoped for. As a final thought, there are a host of cryptocurrencies that promise better technological underpinnings than Bitcoin. If they can best Bitcoin at its only game, what will keep Bitcoin’s value up? Its network remains an asset for the cryptocurrency. If that same growing network of buyers, sellers, holders, and traders can stop the sag in Bitcoin’s price, however, is a bet for investors to make. suprise no one is talking about bitcoin now.. It's sitting at 444 a pop now while it was as low as 441 just a couple mins ago. Link to comment Share on other sites More sharing options...
mdehaan Posted April 11, 2014 Share Posted April 11, 2014 Current price - $350 USD I don't love or hate bitcoin, but if 10 years down the road it is recognized as a legitimate currency by TPTB, then I think it will probably have gone to ~$0 a few times before then. Link to comment Share on other sites More sharing options...
Grapefruits Posted April 11, 2014 Share Posted April 11, 2014 (edited) suprise no one is talking about bitcoin now.. It's sitting at 444 a pop now while it was as low as 441 just a couple mins ago. Lots of people are still talking about bitcoin, but they do it elsewhere. Not some thread on a hockey site where people only bother to show up to crap on it when it's down. Edited April 11, 2014 by Grapefruits Link to comment Share on other sites More sharing options...
MillerGenuineDraft Posted April 11, 2014 Author Share Posted April 11, 2014 suprise no one is talking about bitcoin now.. It's sitting at 444 a pop now while it was as low as 441 just a couple mins ago. Honestly. You are such a loser. All you do is talk crap about bitcoin, yet YOU are the only who posts the most in this thread. I made this thread and you post in it more than I do. Like, such a loser. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted May 7, 2014 Share Posted May 7, 2014 Haven't been here in a here in a while...surprised the log-in still works...nice to see a thread about bitcoin! Link to comment Share on other sites More sharing options...
Offensive Threat Posted May 7, 2014 Share Posted May 7, 2014 From Wikipedia: Financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. Economist John Quiggin stated, "bitcoins will attain their true value of zero sooner or later, but it is impossible to say when."[96] In 2013, Bank of America FX and Rate Strategist David Woo forecast a maximum fair value per bitcoin of $1,300.[106] Bitcoin investor Cameron Winklevoss stated in 2013 that the "mall bull case scenario for bitcoin is... 40,000 USD a coin".[107] In late 2013, finance professor Mark Williams forecast a bitcoin would be worth less than ten US dollars by July 2014.[108] So future predictions range from $40,000 to 0 USD per coin. If you already have coins aim for that $40K sell point lol. Seriously though its still a crazy market full of uncertainties. If you dont mind the volatility and havent tied your life savings into it, it seems like a interesting situation to watch unfold. Link to comment Share on other sites More sharing options...
drummer4now Posted May 7, 2014 Share Posted May 7, 2014 (edited) From Wikipedia: Financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. Economist John Quiggin stated, "bitcoins will attain their true value of zero sooner or later, but it is impossible to say when."[96] In 2013, Bank of America FX and Rate Strategist David Woo forecast a maximum fair value per bitcoin of $1,300.[106] Bitcoin investor Cameron Winklevoss stated in 2013 that the "mall bull case scenario for bitcoin is... 40,000 USD a coin".[107] In late 2013, finance professor Mark Williams forecast a bitcoin would be worth less than ten US dollars by July 2014.[108] So future predictions range from $40,000 to 0 USD per coin. If you already have coins aim for that $40K sell point lol. Seriously though its still a crazy market full of uncertainties. If you dont mind the volatility and havent tied your life savings into it, it seems like a interesting situation to watch unfold. I was thinking of getting into bitcoin last year, but the data mining process takes forever,, Hard to believe 1 bitcoin costs ~$469.67 cdn according to today's rate. Edited May 7, 2014 by drummer4now Link to comment Share on other sites More sharing options...
CanadianLoonie Posted May 7, 2014 Share Posted May 7, 2014 Wondering what Bitcoin is in 2014 is like wondering what the Internet was in 1994...Bitcoin, and more specifically it's blockchain protocol, is a major game-changer and is the next evolution of the Internet. Link to comment Share on other sites More sharing options...
Offensive Threat Posted May 7, 2014 Share Posted May 7, 2014 Wondering what Bitcoin is in 2014 is like wondering what the Internet was in 1994...Bitcoin, and more specifically it's blockchain protocol, is a major game-changer and is the next evolution of the Internet. Both the Securities and Exchange Commission and the Commodities Futures Trading Commissions seem intent on having a lot to say about Bitcoins future as both are currently looking into expanding their Framework to include online currencies. That is the future Bitcoin is looking at, Whether that ends up being good or bad for its valuation remains to be seen. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted May 7, 2014 Share Posted May 7, 2014 Those antiquated institutions have no jurisdictional authority nor the means to regulate a de-centralized network. Link to comment Share on other sites More sharing options...
Offensive Threat Posted May 7, 2014 Share Posted May 7, 2014 Those antiquated institutions have no jurisdictional authority nor the means to regulate a de-centralized network. Well someone doesnt seem to like the idea of their unique little outlaw currency becoming just another commodity in the boring old world of trading. Get over it, Bitcoin is gonna have to move up to the big boys table with the IRS, SEC etc. and quit playing in the sand with Chinese mafia goons. The SEC now recognizes BITCOIN as an investment and subject to SEC securities laws. They have already charged a number of people with running Bitcoin dominated ponzi schemes in the last little while. Heres one: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539730583#.U2oFOvldUwA The IRS has announced that Bitcoin will be taxed as it taxes capital gains on stocks. On Cir.ca: "The IRS on March 25 said that it would treat Bitcoin (and other virtual currencies) like property, not currency, for tax purposes. The ruling means that the IRS will treat Bitcoin held by users the same way it treats stock; Bitcoin holders would be required to pay capital gains on any increase in value." The regulators are coming and these "antiquated institutions" are gonna straighten out this mess. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted May 7, 2014 Share Posted May 7, 2014 Okay, how would US government thugs enforce those laws on bitcoin users, especially those outside the police state that is the US? Link to comment Share on other sites More sharing options...
avelanch Posted May 7, 2014 Share Posted May 7, 2014 (edited) still holding on to the false notion bitcoin is legitimate? Edited May 7, 2014 by avelanch Link to comment Share on other sites More sharing options...
CanadianLoonie Posted May 7, 2014 Share Posted May 7, 2014 Are central bank-issued, government-fiat currency legitimate? Link to comment Share on other sites More sharing options...
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