Living on Bitcoin

Discussion in 'In the News' started by The Dark King, Feb 21, 2015.

  1. Bliss

    Bliss Well-Known Member

  2. Soulthinker

    Soulthinker Well-Known Member

  3. The Dark King

    The Dark King Well-Known Member

  4. Bliss

    Bliss Well-Known Member

    What do you think of this comment?

    "Venezuela is about to come out with a Petrocoin backed up by oil. They have one of the largest oil reserves in the world. If it goes out cheap at first who knows, it might be good to buy some. Since all of these cryptocurrencies are driven by speculation and not really anything else, anything could happen. I can't help but to think of those first few bitcoin holders that sold 10's of thousands of them to merely become millionaires years ago, and now it's at $11k per coin. I would never have believed that would happen."
  5. The Dark King

    The Dark King Well-Known Member

    Personally for me it depends on how the coins are distributed and what script is being used. Could be great for them especially since it will be the first coin backed by a country. Circulation is incredibly important though
    • Informative Informative x 2
    • List
  6. RicardoCooper

    RicardoCooper Well-Known Member

    So all these megacorps can skate paying little to no tax, but the IRS comes after the small investor. Fuck Merka, hide your money as best you can.
  7. Soulthinker

    Soulthinker Well-Known Member

    Almost no one trust the government with that coin. They will use a alternative to Bitcoin not Petrocoin.
  8. Soulthinker

    Soulthinker Well-Known Member

    Yes,the IRS are going to the Bitcoin sellers to get the info on the small fry and rich folks like The Twins will get a small slap on the wrist.
  9. The Dark King

    The Dark King Well-Known Member

    So bitcoin is over 16k today. The entire market is now worth more than JP Morgan. Worth more than Facebook or Twitter. More than Nike. And this happened in less than a decade.
    Interesting times ahead. Money as as we knew it has shifted.
  10. Bliss

    Bliss Well-Known Member

    '$62 MILLION' Bitcoin theft: Hackers steal huge haul as value of the cryptocurrency soars to record high of $15,000

    (Showing the good with the bad...)

    Hackers stole $62million worth of bitcoin as its value soared to a record high of $15,000 today.

    Slovenian bitcoin marketplace NiceHash said the total contents of its bitcoin wallet were taken yesterday.

    It did not say how much was stolen but users shared the company's wallet address on Twitter which showed it had 4,736.42 bitcoins.

    The company has reported the incident to police and told users to change their passwords.

    It said in a statement: 'Our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of bitcoin taken.'

    Bitcoin has long been a target for hackers. In 2014 almost a million bitcoins - worth around $700million at the time - were stolen from Japanese bitcoin exchange Mt Gox, rendering it bankrupt.

    Before the hack, NiceHash had been suffering problems, with many bitcoin owners posting panicked comments on its social media accounts.

    It comes after the price of bitcoin surged to over $14,100.74, gaining $1,000 in less than a day.

    That compares with a value below $1,000 at the beginning of the year.

  11. Bliss

    Bliss Well-Known Member

    Someone's observation..

    "Of the hundreds of thousands of Bitcoin holders only 900 have reported their holding to the Tax Authorities for Capital Gains Tax purposes. Now governments are determined to find out who all these people are and how much they owe in taxes. It will be billions."

    "As far as I'm aware Capital Gains Tax is liable when you cash in showing a profit, no need to tell them anything until it's converted to cash."
  12. Bliss

    Bliss Well-Known Member


    "Some big players have been hammering gold the last couple of week i.e. exactly at the same time as bitcoin has gone crazy. The key suspects with respect to gold and physical metal 'manipulation' through the irrational dumping of massive amounts of metals are the banks working to depress the price of gold (there have been some reason indictments in this respect). If so, is that likely to be a coincidence?

    And if it isn't a coincidence (it's not) then that means the banks, the powers that be, are trying to fuel the bitcoin rampage, presumably with a view to collapsing it once they've reaped profits (and think of all that capital gains tax etc that could potentially be clawed back - all the exchanges are required to prove identity now so there's no anonymity when it comes to trading".
  13. The Dark King

    The Dark King Well-Known Member

    Lol what conspiracy nonsense is this? Other communities like Korea and Japan are getting into it. "The powers that be" are still scrambling to find out exactly what this is while it climbs to being more valuable than Facebook McDonald's and even JP Morgan Chase. Its global its like the forex market is switching definitions and hears.
    This isnt fiat currency where you can print up what you want to manipulate the markets
  14. Bliss

    Bliss Well-Known Member

    Been wantng to ask you.. When the DOW kept rising after the recent election, you insisted it was an inflated bubble and a crash was coming. How is it you don't harbor the same consensus for Bitcoin?
  15. The Dark King

    The Dark King Well-Known Member

    Correction and crash are two different things. This cheap over inflated fiat is at its appex. Backed by nothing but empty debt and conditioning. Cryptocurrency actually has extrinsic value that acts as more than just "money"
    And that recent tax bill ensured a crash sooner rather than later.
    I don't want to sound arrogant its not my intention but this is my space and I know it well. You were one of many trying to tell me this is a passing fad with fake money. Its 30 times more valuable than when we first talked about all this. Its carving out a completely different path. Its gone from less than a penny to over 16k no other asset class has ever come close to what this is.
  16. Bliss

    Bliss Well-Known Member

    Yeah, l did apologize to you in another thread l think Random Convo..l ate crow.. I still don't think the Market isn't crashing any time soon.

    In any event, who is buying coin at $15g's? Who is even selling?
    It's interesting watching from the sideline, though.
  17. hulkx

    hulkx Active Member

    This hedge fund manager thinks it will hit 40k+ by the end of 2018
  18. The Dark King

    The Dark King Well-Known Member

    At this point I'd say this year its hitting numbers far outside of the projections. Ill even admit I didn't account for the fomo effect. Hundreds of thousands of people buying hoping they didn't miss the boat and the way most exchanges are with their selling wait times the rate of sale is nowhere near the rate of buy. It very well might become a trillion dollar asset class by christmas with the approval of futures looming by the 18th. Once that happens the train is off the tracks and flying through space. If it does go down like that full retirement for me. The stress is kicking my ass I haven't slept since June lol
  19. Bliss

    Bliss Well-Known Member

    Last night on C2C, a 30-year Finance expert who's been following the trends since the late 80's said that Bitcoin will Peak till around 2020 and then it will burst. He said it's going to mimic the tech bubble bust. (Bitcoin did drop 15% overnight).
    Now what's interesting is the'yre saying that Trump is helping to fuel the rise in Bitcoin because of the uneasiness of the market. People are still nervous, which helps bitcoin's value.

    Back to this guy, he said that the worst time for any president to have won the election per the economy, was 2016, because the economy is going to tank and then rise around 2020,. He said it's because millenials are too conservative and don't have the expectation of rising house prices like baby boomers did, boomers who also fuled the economy with their inventions and contributions.

    I was kind of in and out of sleep but those are the things I picked up.
  20. LA

    LA Well-Known Member

Share This Page