BitCoin
I've been trying to buy Bitcoin since forever from individuals and it's rare that I've ever been able to get any. I'm actually owed back a couple thousand in BTC right now. I will sell you one for 8,000. It's a good deal considering you probably read the same article I did.Quote: djatcAnyone wanna sell me 1 BTC? Trusted people on the forum only.
If you actually need some Bitcoin for a quick transaction like a sports bet or something like that then hit me up via text.
They may be unsafe, untrustworthy, or illegal in your jurisdiction.Quote: RSWTB 2 BTC. COD
I call it vending, but not sure what it vends.
Quote: rxwinePerhaps this is just news to me, but I saw a bitcoin vending machine at my local gas station, mini convenience store. "Buy Bitcoin" Then it had the price. At the bottom, it had, "Need a bitcoin wallet".
I call it vending, but not sure what it vends.
Coinstar has had that for a few years.
Usually monstrous fees and exchange rate.Quote: rxwinePerhaps this is just news to me, but I saw a bitcoin vending machine at my local gas station, mini convenience store. "Buy Bitcoin" Then it had the price. At the bottom, it had, "Need a bitcoin wallet".
I call it vending, but not sure what it vends.
Quote:The IRS Sets a Trap for Cryptocurrency Tax Cheats
The tax collector is making it a lot harder to pretend you don’t have bitcoin or other virtual currencies hidden away somewhere
https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202
https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation
Quote: AxelWolfFounders And Executives Of Off-Shore Cryptocurrency Derivatives Exchange Charged With Violation Of The Bank Secrecy Act
https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation
Thanks for the link, Axel. Apparently Hayes is from Buffalo, so I tried to get some info on him, with little success. Seems to be a new billionairre that lives in Hong Kong now. I doubt he shows up for a trial. If convicted, I think this could put a SIGNIFICANT downward pressure on Bitcoin. Sell now!
I think the price dropped a few percent on that news. I don't think it's going to have a significant impact overall. Bitcoins here to stay.Quote: SOOPOOThanks for the link, Axel. Apparently Hayes is from Buffalo, so I tried to get some info on him, with little success. Seems to be a new billionairre that lives in Hong Kong now. I doubt he shows up for a trial. If convicted, I think this could put a SIGNIFICANT downward pressure on Bitcoin. Sell now!
Quote: billryanBitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.
I would give this more weight if you knew there is no plural. It is "Bitcoin" whether you have a fraction of a unit or many units.
And yet it's been around for 10 years. I think you'd be better off comparing it to the Internet stock bubble craze. You just need to find a few good ones.Quote: billryanBitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.
Quote: billryanBitcoins are the tulips of the 21st Century. Sadly, I suspect most bitcoin owners won't get the reference.
I’d be surprised if many people don’t get the reference.
Everything is a bubble with a long enough time horizon.
Quote: AZDuffmanI would give this more weight if you knew there is no plural. It is "Bitcoin" whether you have a fraction of a unit or many units.
A google inquiry- what are bitcoins gave me two million plus results. Nothing on the front page corrected it to bitcoin.
Wiki states that about 20% of all bitcoins are lost and there is nothing the rightful owner can do if the key is lost. It is currently selling for just a bit over 50% of its high from several years ago. I have no idea why people think this is a good thing to invest in.
Can you insure them? My collectibles/investments are all fully insured. Can you buy any sort of insurance or does that defeat the purpose by creating a paper trail?
Quote: billryan
Can you insure them? My collectibles/investments are all fully insured. Can you buy any sort of insurance or does that defeat the purpose by creating a paper trail?
No real reason to insure them. Or do you mean can you buy protective puts? I have never looked into that. Probably somewhere, but like insuring a stock you will pay big and it is not worth it long term. If you could buy puts and write calls to make a collar maybe it would work.
I wouldn't say I'm necessarily an investor but more of an accumulator, since I use it frequently (I have speculated a few times and I purchased some when it dipped really low). Someone can lose their wallet or just about anything.Quote: billryan
Wiki states that about 20% of all bitcoins are lost and there is nothing the rightful owner can do if the key is lost.
I'm not sure ,but I think that figure might be a little misleading. How much of that 20% was lost when Bitcoin was easy to mine and basically had very little value. At that time? I'm sure people didn't really care or want to be bothered with keeping track of it properly and we're very careless. Kind of like how people were careless with baseball cards when they were practically worthless and plentiful.
I had like $20 worth of Bitcoin back when it was in the $500 range while experimenting with a crypto wallet app on my phone. It was only 20 bucks worth so I didn't really keep track of the key and I've long since replace that phone.
One can buy a crypto wallet you don't need the key in order to access the crypto wallet, you just need a PIN number. If you happen to lose your crypto wallet you can buy another one and use your key and access your coins. You can also just keep your coins on a crypto Exchange. You could split up your cryptocurrency I'm Different exchanges and multiple hard wallets. Whatever the case, if you do it correctly you can Safeguard yourself from all that and even split up your BTC in different wallets and on different exchanges.
Mine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.Quote: billryanOne in five bitcoins are lost. Think about it. One in five people who buy one will never cash it in and it becomes worthless. If that isn't a reason to insure them, I'm not sure what is.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.
Quote: OnceDearMine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.
I agree, my trezor is all the security I need. If I lose it I have two back up 24 word keys stored securely in separate places.
Quote: PokerGrinderI agree, my trezor is all the security I need. If I lose it I have two back up 24 word keys stored securely in separate places.
PG.... if you die, will your heirs know what to do to monetize your bitcoin? My regular bank accounts/stock accounts easily transfer to my heirs. They don’t have to find a 24 word key stored somewhere. Would someone even know you own a bitcoin?
Quote: OnceDearMine are insured in as much there are two written records of the 24 word key, stored in two remote locations and not that it matters, but the key has been used to create a backup trezor wallet.
Apart from having them stolen off the blockchain, I or my benefactors will have easy access for as long as the blockchain and internet exist.
I don't have a clue what you just said. I don't use bitcoin as it just seems to complicated.
it's really not that much more complicated than using a credit card or online banking/ PayPal. Once you have it set up, it's pretty easy to use you simply click send or receive and copy and paste the address(most people used to factor Authentication on their Exchange). You don't have to have fancy hard wallets to use it, you just have to get on a crypto exchange like coinbase. Using a hard wallet is a way to avoid keeping it on an exchange.Quote: vegasI don't have a clue what you just said. I don't use bitcoin as it just seems to complicated.
Be honest, I don't know what everyone uses cryptocurrency for. I just know it's the easiest thing to use for online casinos.
Quote: AxelWolfBe honest, I don't know what everyone uses cryptocurrency for. I just know it's the easiest thing to use for online casinos.
Drugs, mostly.
Where does it end this time?
my Wizcoin would be worth a lot Today but since I didn't PM him it didn't get my request...Quote: AZDuffmanWe hit a record today!
Where does it end this time?
Quote: AZDuffmanWe hit a record today!
Where does it end this time?
Don't know, but it's up more than 200% since the Fed made this QE announcement on March23rd. It was falling prior to that.
Quote: TankoDon't know, but it's up more than 200% since the Fed made this QE announcement on March23rd. It was falling prior to that.
It crashed during what we could call "virus week." That was a great week to invest in almost anything if you figured we would have a bad year but recover. I was lucky and had just sold a flip house the first few days of March, for once in my life timing was good!
Currently we are getting more and more institutional support. 2017 was more Asian day traders. It is very possible we run to six figures thus time then another pullback.
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I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.
39,618.80 United States Dollar
Quote: OnceDearJust by the by... Yesterday as the BTC price was peaking, I was receiving a few hundred dollars worth. In spite of the 'normal' priority fee being paid by the sender, it took nearly 8 hours for the first confirmation to occur. Never seen that before. Usually more like 20 minutes.
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I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.
That is the flaw. All the buying slows things. Like when all those idiots were buying virtual cats with ETH a few years back,
I don't know about buying virtual cats with ETH, but as flaws go, this hiccup was trivial.Quote: AZDuffmanQuote: OnceDearJust by the by... Yesterday as the BTC price was peaking, I was receiving a few hundred dollars worth. In spite of the 'normal' priority fee being paid by the sender, it took nearly 8 hours for the first confirmation to occur. Never seen that before. Usually more like 20 minutes.
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I'm currently going long on BTC in case you'd care to laugh at my expense in a few months time.
That is the flaw. All the buying slows things. Like when all those idiots were buying virtual cats with ETH a few years back,
I now have a chunk of wealth invested in Bitcoin and liquidity is not a problem YET.
Converting to Fiat currency will present a bit of an obstacle, especially in a post-internet world or if trying to use a mainstream Exchange.
Unfortunately UK tax authorities treat Bitcoin much the same as stocks and shares and NOT as a currency. So, I have to either keep a close eye on potential Capital Gains Tax issues, or I have to just embrace a grey economy approach.
An issue for my heirs, dealing with 'Know Your Customer' regulations.
41,267.00 United States Dollar
Quote: AxelWolf1 Bitcoin equals
41,267.00 United States Dollar
Not anymore. Now $39,800. So anyone who just decided to jump in is down around 4%. Anyone who jumped in at the recent low (5800) is up around 700%.
I am not smart enough to even understand why it is volatile. And certainly not smart enough to know if it goes to $50k before back to $35k.
Quote: gamerfreakDrugs, mostly.
I sold an early Spider-Man comic last week for about $15,000. If we'd gone through Paypal, it would have cost me close to $500. I'm not sure how it was done, but using crypto-currency, I had $14,875 in my bank account a day later.
I still have zero faith in its long term value, but I now see it can be useful in some transactions. The book was on consignment and the owner expected to be charged the Paypal fees so he was very happy when he found out I'd saved him 75% in fees.
Quote: SOOPOONot anymore. Now $39,800. So anyone who just decided to jump in is down around 4%. Anyone who jumped in at the recent low (5800) is up around 700%.
I am not smart enough to even understand why it is volatile. And certainly not smart enough to know if it goes to $50k before back to $35k.
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as of now. I have no idea who would buy it at this price, I guess the people who think it's going to 100k.
Quote: AxelWolf$
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as of now. I have no idea who would buy it at this price.
Did you not as that same question at $10k? $20k? $30k? When it’s $50k, will you be asking..... ‘why was I so stupid not to buy at $40k? I don’t understand it. Probably never will.
Quote: AxelWolf
as of now. I have no idea who would buy it at this price, I guess the people who think it's going to 100k.
Institutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.
Quote: AZDuffmanInstitutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.
Noobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....
Quote: SOOPOONoobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....
"Which part you are selling" does not matter. It is like a stock capital gain AFIK. You could go FIFO or weighed average. Again AFIK.
BTW: It is really not proper to use a plural. One Bitcoin, many Bitcoin.
Quote: AZDuffman
BTW: It is really not proper to use a plural. One Bitcoin, many Bitcoin.
I learned something today!
I forgot you can now buy it with PP. I'm not buy or selling right now. I did sell some over the last few months. I just have a feeling it's going to take a big hit soon. I have nothing to back that up, it's just a gut feeling.Quote: AZDuffmanInstitutions are the buyers. PayPal needs a ton of it. Hedge funds are buyers. Those of us who dollar cost average are still doing so.
Quote: AxelWolfI forgot you can now buy it with PP. I'm not buy or selling right now. I did sell some over the last few months. I just have a feeling it's going to take a big hit soon. I have nothing to back that up, it's just a gut feeling.
And I appreciate all the cheap ass btc you sold me lol!
You will need it for your criminal defence when they finally figure out why you really love traveling around the world.Quote: PokerGrinderAnd I appreciate all the cheap ass btc you sold me lol!
You will need it for your criminal defence when they finally figure out why you really love traveling around the world.Quote: PokerGrinderAnd I appreciate all the cheap ass btc you sold me lol!
Hi Soopoo. With coinbase your coins are mixed in with their's and CB just maintain an account balance for you. You neither own nor control the coins at all. So No. You cannot direct them to sell chosen BTC.Quote: SOOPOONoobie question.... If you have been buying dribs and drabs for years, when you sell, do you tell Coinbsse or whoever which bitcoins you are selling? Or is it all one big pot? Of course this is a tax question....
Here in the UK, our tax authority HMRC, treat BTC like a stock or share and EVERY purchase with BTC or conversion to fiat, is deemed a disposal at the going rate. Because we have to report purchases and disposals on our CGT ( Capital gains tax) returns beyond a certain low level, it means a massive amount of record keeping. Failing to do that causes problems when disposing of big quantities.
NOTE: Coinbase is reporting transactions to IRS and HMRC. Personally I would not use CB for anything more than a few hundred dollars a year in transactions. I keep my BTC keys on a trezor hardware wallet.
Quote: AxelWolfYou will need it for your criminal defence when they finally figure out why you really love traveling around the world.
🙄
OD I’m the same, I don’t use anything but my trezor.
