BitCoin
LOL. I thought it was something like that.Quote: PokerGrinderI’m calling you a fish lol. Look up fish in poker
Quote: PartyPokerYou've identified the fish – now what do you do?...
Get friendly with them. If you're going to take all their money and expect them to come back you're going to have to make them feel good about themselves. How? Turn on the charm, something like, 'Wow you played really well, you just got really unlucky,' should work a treat.
Want to buy the rest of my BTC, matey?
$:o)
Quote: PokerGrinderLook up fish in poker
if you look around the table.............and you don't know who the fish is.........................𝙩𝙝𝙚𝙣 𝙩𝙝𝙚 𝙛𝙞𝙨𝙝 𝙞𝙨 𝙮𝙤𝙪.....................(~:/
.
Quote: lilredroosterif you look around the table.............and you don't know who the fish is.........................𝙩𝙝𝙚𝙣 𝙩𝙝𝙚 𝙛𝙞𝙨𝙝 𝙞𝙨 𝙮𝙤𝙪.....................(~:/
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I got suspended for telling someone on this board that. Mine was directed at them and not just a general statement like yours.
Really? Unlucky!Quote: DRichI got suspended for telling someone on this board that. Mine was directed at them and not just a general statement like yours.
Anyhow, I have thick scaly skin.
And the moral to the quote is pretty accurate
Quote: OnceDearLOL. I thought it was something like that.
Want to buy the rest of my BTC, matey?
$:o)
Happily
1 Bitcoin equals
33,693.10 United States Dollar
LOL... If you look at the chart of BTC/USD, You will see a low point some $5000 below where it is now (34444)Quote: AxelWolfwhenever BTC goes down to "key levels" the haters will make sure you know it and then claim the big crash is next...
1 Bitcoin equals
33,693.10 United States Dollar
https://www.tradingview.com/symbols/BTCUSD/
Guess where this fish decided to unload some. $:o(
Anyway. In other news, there is some confusion about proposed EU legislation which will aim to ban anonymous Crypto wallets.
https://siliconcanals.com/news/eu-ban-anonymous-crypto-wallets/
At first sight, that makes it look like your holding on Trezor or Nano, etc will become unmovable.
GULP!!!
Fortunately that has been clarified to exclude non custodial wallets, but is still an uncomfortably grey area. Expect in a few years time to have to explain your source of coins to the Exchange you try to sell or convert them through.
I could have done without that!
Quote: OnceDearLOL... If you look at the chart of BTC/USD, You will see a low point some $5000 below where it is now (34444)
https://www.tradingview.com/symbols/BTCUSD/
Guess where this fish decided to unload some. $:o(
Anyway. In other news, there is some confusion about proposed EU legislation which will aim to ban anonymous Crypto wallets.
https://siliconcanals.com/news/eu-ban-anonymous-crypto-wallets/
At first sight, that makes it look like your holding on Trezor or Nano, etc will become unmovable.
GULP!!!
Fortunately that has been clarified to exclude non custodial wallets, but is still an uncomfortably grey area. Expect in a few years time to have to explain your source of coins to the Exchange you try to sell or convert them through.
I could have done without that!
Buy high, sell low is your mantra?
Quote: OnceDearLOL... If you look at the chart of BTC/USD, You will see a low point some $5000 below where it is now (34444)
https://www.tradingview.com/symbols/BTCUSD/
Guess where this fish decided to unload some. $:o(
Anyway. In other news, there is some confusion about proposed EU legislation which will aim to ban anonymous Crypto wallets.
https://siliconcanals.com/news/eu-ban-anonymous-crypto-wallets/
At first sight, that makes it look like your holding on Trezor or Nano, etc will become unmovable.
GULP!!!
Fortunately that has been clarified to exclude non custodial wallets, but is still an uncomfortably grey area. Expect in a few years time to have to explain your source of coins to the Exchange you try to sell or convert them through.
I could have done without that!
I’m glad that you are using the 🐠 description now 😂
Buy? Well, yes I bought this tranche, for half of what I sold them for.Quote: darkozBuy high, sell low is your mantra?
I can't lose a cent on the rest $:o)
38400 now. Dangnabbit.Quote: darkozBuy high, sell low is your mantra?
Should I buy now? 🙂
Sooooo. Looks like Amazon is the influencer at the moment
Quote: OnceDear38400 now. Dangnabbit.
Should I buy now? 🙂
Sooooo. Looks like Amazon is the influencer at the moment
I almost feel like Bill and EB were the influencer.
I hope you didn't sell because of their fear mongering.
Last time Bill commented in this thread was to say Bitcoin had hit $29,000 and it was all over.
Now, silence.
EB still banned? His only excuse is he has had a decade and still can't get his Bitcoins predicting right.
I need to listen more to EvenBob's advice.... And always do the opposite.Quote: darkozI almost feel like Bill and EB were the influencer.
I hope you didn't sell because of their fear mongering.
Last time Bill commented in this thread was to say Bitcoin had hit $29,000 and it was all over.
Now, silence.
EB still banned? His only excuse is he has had a decade and still can't get his Bitcoins predicting right.
I don't mind that I sold a modest tranche at a recent low point. It booked a profit. I still have an acceptable hodling to worry about.
Quote: billryanFlip your chart and what would you see? On another forum, a self-made multi-millionaire is predicting a rubber band rebound to $43,000 by Labor Day.
Was reading about a bunch of investors who pledged $200,000 each towards building a condo on the island of Grenada. For some reason, their money was being held in bitcoin and the original $2.8 million is only worth $1.6 and they either have to make up the difference or default on the project. Surprisingly most of the younger investors were unfazed and the older ones were horrified.
Actually, this is the last time I commented on bitcoin price. I won my small wager that it would be under $30,000 for 24 hours before it was over $40,000 for the same period.
Having won my wager, and used the proceeds to buy a pint of root beer, I no longer have any ongoing interest in this.
I have no use for bitcoin, don't see it as a good place to park my money and hope you all make gazillions of dollars now that I enjoyed my root beer.
Quote: billryanFlip your chart and what would you see? On another forum, a self-made multi-millionaire is predicting a rubber band rebound to $43,000 by Labor Day.
Was reading about a bunch of investors who pledged $200,000 each towards building a condo on the island of Grenada. For some reason, their money was being held in bitcoin and the original $2.8 million is only worth $1.6 and they either have to make up the difference or default on the project. Surprisingly most of the younger investors were unfazed and the older ones were horrified.
Actually, this is the last time I commented on bitcoin price. I won my small wager that it would be under $30,000 for 24 hours before it was over $40,000 for the same period.
Having won my wager, and used the proceeds to buy a pint of root beer, I no longer have any ongoing interest in this.
I have no use for bitcoin, don't see it as a good place to park my money and hope you all make gazillions of dollars now that I enjoyed my root beer.
Good wager! Who was the fish $:o)Quote: billryanI won my small wager that it would be under $30,000 for 24 hours before it was over $40,000 for the same period.
Quote: OnceDearGood wager! Who was the fish $:o)
Imagine if Bill has been paid in Bitcoin. He could be enjoying eight beers now.
That would have been a good wager
I wouldn't jump through the AML / KYC hoops for just 8 beers.Quote: darkozImagine if Bill has been paid in Bitcoin. He could be enjoying eight beers now.
That would have been a good wager
the linked article states that the BTC surge was due to an Amazon tease about accepting it
Amazon posted this job opening:
"Amazon is looking for a “Digital Currency and Blockchain Product Lead,” who will be a member of the Payment Acceptance and Experience Team, which the posting says is “responsible for how Amazon’s customers pay on Amazon’s sites and through Amazon’s services around the globe.”'
it's also possible Amazon will develop its own crypto
if Amazon does accept BTC that will of course be huge
https://arstechnica.com/tech-policy/2021/07/bitcoin-surges-as-amazon-job-posting-suggests-retailer-may-accept-cryptocurrencies/
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Quote: lilredrooster...................
the linked article states that the BTC surge was due to an Amazon tease about accepting it
Amazon posted this job opening:
"Amazon is looking for a “Digital Currency and Blockchain Product Lead,” who will be a member of the Payment Acceptance and Experience Team, which the posting says is “responsible for how Amazon’s customers pay on Amazon’s sites and through Amazon’s services around the globe.”'
it's also possible Amazon will develop its own crypto
if Amazon does accept BTC that will of course be huge
https://arstechnica.com/tech-policy/2021/07/bitcoin-surges-as-amazon-job-posting-suggests-retailer-may-accept-cryptocurrencies/
.
You mean Amazon might consider Bitcoin a currency.
I know at least two forum members who may commit Hari kiri
Quote: lilredrooster...................
the linked article states that the BTC surge was due to an Amazon tease about accepting it
Amazon posted this job opening:
"Amazon is looking for a “Digital Currency and Blockchain Product Lead,” who will be a member of the Payment Acceptance and Experience Team, which the posting says is “responsible for how Amazon’s customers pay on Amazon’s sites and through Amazon’s services around the globe.”'
it's also possible Amazon will develop its own crypto
if Amazon does accept BTC that will of course be huge
https://arstechnica.com/tech-policy/2021/07/bitcoin-surges-as-amazon-job-posting-suggests-retailer-may-accept-cryptocurrencies/
.
Why would this be huge? Amazon has its own credit card that gives 5% percent off every purchase and a different card with 5% cash back( they are not the same thing).
If I buy a $200 item with my Amazon card, it costs me $190.
If you buy a $200 item using bitcoin, what does it cost?
Will using a bitcoin gain you airline miles like a credit card?
If someone uses a credit card, they can pay down the road.
Using bitcoin means you already laid the money out in advance.
If you think today's young buyers want to pay in advance and pay a fee for the privilege, I'd suggest you pay better attention to financial trends.
Quote: billryanWhy would this be huge? Amazon has its own credit card that gives 5% percent off every purchase and a different card with 5% cash back( they are not the same thing).
If I buy a $200 item with my Amazon card, it costs me $190.
If you buy a $200 item using bitcoin, what does it cost?
Will using a bitcoin gain you airline miles like a credit card?
If someone uses a credit card, they can pay down the road.
Using bitcoin means you already laid the money out in advance.
If you think today's young buyers want to pay in advance and pay a fee for the privilege, I'd suggest you pay better attention to financial trends.
you're assuming Amazon would not allow its customers to pay off their credit card with B
that's something you cannot know
it's also possible that Amazon will develop its' own crypto with sweet benefits, especially in the beginning to attract customers
this is all very new, and nobody, including you and me, can know how this thing will play out
new angles on this thing are coming every day
you might be right but basically you are taking a stand against change
the only thing that never changes is that change always happens
as far as the tax thing being very difficult administratively - I don't think so
the users of B are highly computer literate
all of this info can be compiled and sorted by a program very easily
.
Amazon doesn't run its credit card, it's issued and managed by Synchrony Bank. So, it's up to Synchrony whether they'll accept Bitcoin, not Amazon.Quote: lilredroosteryou're assuming Amazon would not allow its customers to pay off their credit card with B
Ha ha! Oh, you think so?! I'm as computer literate as they come, and getting all my transactions compiled and in tax format was time consuming and tedious...not to mention entering them into your tax forms manually, one at a time (or else buying dedicated software; TurboTax won't cut it).Quote: lilredroosteras far as the tax thing being very difficult administratively - I don't think so
the users of B are highly computer literate
all of this info can be compiled and sorted by a program very easily
Quote: lilredroosteryou're assuming Amazon would not allow its customers to pay off their credit card with B
that's something you cannot know
this is all very new, and nobody, including you and me, can know how this thing will play out
new angles on this thing are coming every day
you might be right but basically you are taking a stand against change
the only thing that never changes is that change always happens
as far as the tax thing being very difficult administratively - I don't think so
the users of B are highly computer literate
all of this info can be compiled and sorted by a program very easily
.
One has to wonder with all it's supposed faults how is it that Bitcoin still is succeeding.
Oh and yes, something that is being used on such a large scale and which has gone up in value so much from inception is a success regardless of it's recent dip.
Over a decade of "the sky is falling" only it isn't
Quote: MichaelBluejayAmazon doesn't run its credit card, it's issued and managed by Synchrony Bank. So, it's up to Synchrony whether they'll accept Bitcoin, not Amazon.
Ha ha! Oh, you think so?! I'm as computer literate as they come, and getting all my transactions compiled and in tax format was time consuming and tedious...not to mention entering them into your tax forms manually, one at a time (or else buying dedicated software; TurboTax won't cut it).
And I suppose you also record a diary of every spin you take at the slots.
Another IRS tax requirement that pretty much 99% of people ignore.
Quote: MichaelBluejayAmazon doesn't run its credit card, it's issued and managed by Synchrony Bank. So, it's up to Synchrony whether they'll accept Bitcoin, not Amazon.
I would bet if Amazon 𝙧𝙚𝙦𝙪𝙚𝙨𝙩𝙨 that Synchrony take B for its card that Synchrony would do it
or Amazon would find another processor
basically this is how it works with Amazon and its' business partners
Amazon says jump and its' contractors or partners say 𝙝𝙤𝙬 𝙝𝙞𝙜𝙝
they're that big and powerful
.
Quote: lilredrooster
as far as the tax thing being very difficult administratively - I don't think so the users of B are highly computer literate
all of this info can be compiled and sorted by a program very easily
I don't think it's a matter of literacy. More that your typical BTC retail user ( when there are any ) will find the concept of calculating taxable event every time they spend some, just so alien and hostile. That issue needs to be swept away if BTC is to go retail mainstream.
Quote: OnceDearI don't think it's a matter of literacy. More that your typical BTC retail user ( when there are any ) will find the concept of calculating taxable event every time they spend some, just so alien and hostile. That issue needs to be swept away if BTC is to go retail mainstream.
If I bought $100k worth of euros, and buy stuff on line using the euros, is it a taxable event if say the euros are worth 10% more than when I bought them?
Quote: OnceDearI don't think it's a matter of literacy. More that your typical BTC retail user ( when there are any ) will find the concept of calculating taxable event every time they spend some, just so alien and hostile. That issue needs to be swept away if BTC is to go retail mainstream.
another bet I would make
if this ever happens some geeks would see a big opportunity
a program that might work something like this
you feed your exchange statement and your credit card statements and your direct purchases to this program each month or each year whatever you prefer
and the program spits out a bottom line for the year with all of the details
either you owe tax or you can claim a loss (of course the loss you can claim is small while there is no limit to the capital gains your obligated to report)
.
AIUI in the UK, our tax authorities would say that it is, but because the appreciation is so tiny, noone would bother.Quote: SOOPOOIf I bought $100k worth of euros, and buy stuff on line using the euros, is it a taxable event if say the euros are worth 10% more than when I bought them?
Quote: OnceDearAIUI in the UK, our tax authorities would say that it is, but because the appreciation is so tiny, noone would bother.
What the government wants and what it gets are two different things.
IRS tax code says all criminals must report their criminal activities and income.
Anyone care to guess how many drug dealers, politicians getting kickbacks, and home invaders file taxes on their I'll gotten gains complete with details each year?
Indeed. That's why I whinge about AML and KYC. Only the honest get problems.Quote: darkozWhat the government wants and what it gets are two different things.
IRS tax code says all criminals must report their criminal activities and income.
Anyone care to guess how many drug dealers, politicians getting kickbacks, and home invaders file taxes on their I'll gotten gains complete with details each year?
Quote: lilredroosteryou're assuming Amazon would not allow its customers to pay off their credit card with B
that's something you cannot know
it's also possible that Amazon will develop its' own crypto with sweet benefits, especially in the beginning to attract customers
this is all very new, and nobody, including you and me, can know how this thing will play out
new angles on this thing are coming every day
you might be right but basically you are taking a stand against change
the only thing that never changes is that change always happens
as far as the tax thing being very difficult administratively - I don't think so
the users of B are highly computer literate
all of this info can be compiled and sorted by a program very easily
.
You pay off credit cards with dollars. Are you suggesting Amazon give up a slice of their income to a bank for accepting Visa, and then another slice for letting people pay their visa with a bitcoin? Why not let the people buy bitcoin with a mastercard and complete the circle?
As far as the users of bitcoin being highly computer literate I'll point you to the great Salvadorian experiment. bitcoin is going to be legal currency in a country where half the nation can't read on an 8th grade level and has no internet access. When I think of a typical El Salvadorian, highly computer literate doesn't jump out at me.
According to Bluejays paper, the fees for using a bitcoin in a purchase are around $22 so where a $200 purchase on Amazon will cost me $190 using their card, the same purchase would cost me $222 using bitcoin.
https://bitcoinist.com/amazon-responds-to-rumors-that-it-is-integrating-bitcoin-payments-on-its-platform/
Interestingly, the price didn't sharply drop after the denial.
That's nice in theory, but in the real world, that doesn't actually exist now, and it's still a bigger hassle than just using credit cards. You've clearly never wrangled with Bitcoin tax compliance. That makes one of us. Let me know once you've processed a hundred or more transactions for tax compliance and how long it took.Quote: lilredroostersome geeks would see a big opportunity
a program that might work something like this
you feed your exchange statement and your credit card statements and your direct purchases to this program each month or each year whatever you prefer
and the program spits out a bottom line for the year with all of the details.
That's my understanding. Here's an IRS page on the topic.Quote: SOOPOOIf I bought $100k worth of euros, and buy stuff on line using the euros, is it a taxable event if say the euros are worth 10% more than when I bought them?
Not exactly. First, the transaction fee has dropped to $2.67. (I just updated the article.) Second, payment processors will pool all customers' payments together so they don't go through the Bitcoin network, so customers don't get hit with the entire network fee. However, I imagine there will often be a fee. There's rarely a fee when you pay with a credit card, and never when you pay with cash.Quote: billryanAccording to Bluejays paper, the fees for using a bitcoin in a purchase are around $22 so where a $200 purchase on Amazon will cost me $190 using their card, the same purchase would cost me $222 using bitcoin.
I've posted this before but it's worth posting again
Goldman Sachs, the most dominant investment bank in the U.S., formed a crypto trading team in May
they have just applied to the SEC to form an ETF composed of crypto
in case you're not familiar with ETFs - and ETF is basically a mutual fund that trades just like a stock - it's been a huge thing for quite a while
Goldman Sachs is not calling it Crypto - they are calling it DeFi - short for decentralized finance
that should tell people something
whether you like it or not, this thing is not going away
if you think it's going to be marginalized or that it will collapse well then............
Good Luck betting against Goldman Sachs...............you'll need it
https://markets.businessinsider.com/news/currencies/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5
https://www.coindesk.com/goldman-sachs-applies-for-defi-etf
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Quote: lilredrooster................
I've posted this before but it's worth posting again
Goldman Sachs, the most dominant investment bank in the U.S., formed a crypto trading team in May
they have just applied to the SEC to form an ETF composed of crypto
in case you're not familiar with ETFs - and ETF is basically a mutual fund that trades just like a stock - it's been a huge thing for quite a while
Goldman Sachs is not calling it Crypto - they are calling it DeFi - short for decentralized finance
that should tell people something
whether you like it or not, this thing is not going away
if you think it's going to be marginalized or that it will collapse well then............
Good Luck betting against Goldman Sachs...............you'll need it
https://markets.businessinsider.com/news/currencies/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5
https://www.coindesk.com/goldman-sachs-applies-for-defi-etf
.
.
What does any of that have to do with bitcoin being good short term investment? These are the same people that were pushing horrible products they created on the public in 2007 and 2008 knowing they were toxic. If a bank sees sheep, it will figure out how to shear them. Its what they do. What is good for Goldman Sachs isn't always good for the individual investor.
Quote: billryanWhat does any of that have to do with bitcoin being good short term investment? These are the same people that were pushing horrible products they created on the public in 2007 and 2008 knowing they were toxic. If a bank sees sheep, it will figure out how to shear them. Its what they do. What is good for Goldman Sachs isn't always good for the individual investor.
first of all, I never said it was a good short term investment
that's a personal choice - I wouldn't recommend it
but I certainly wouldn't say don't do it if a person is comfortable with the risk
what I'm posting about is its' huge popularity and whether that can or cannot be sustained
secondly, Goldman Sachs like every investment bank and brokerage has pushed some dogs on to the public
but they've pushed many more winners than losers
the fact that they're into it means that they think it is substantial
they've been wrong many times but they've been right many more times
I personally, would never sell short or take a position against something they favor
that to me is suicidal
.
I do believe you already can.Quote: billryan
Why not let the people buy bitcoin with a mastercard and complete the circle?
And yet, he was still using it.Quote: billryan
According to Bluejays paper, the fees for using a bitcoin in a purchase are around $22 so where a $200 purchase on Amazon will cost me $190 using their card, the same purchase would cost me $222 using bitcoin.
Wasn't EB and Bill saying something about imminent failure just a week ago.
Prediction:. Bitcoin will eventually hit $400,000, then drop to $200,000 and EB will point to that as failure.
It had been past 40k, it's now almost 41k.Quote: darkozBitcoin $100 away from $40,000.
Wasn't EB and Bill saying something about imminent failure just a week ago.
Prediction:. Bitcoin will eventually hit $400,000, then drop to $200,000 and EB will point to that as failure.
I would be surprised myself if it doesn't pull back some today.
You mean while playing at online casinos using crypto as a method of deposit and withdrawal?Quote: BTLWII'll make 6 figures + from blockchain gaming in 2022.
41,881.40 United States Dollar
Still waiting for the big crash like a few people keep predicting.
https://www.pymnts.com/cryptocurrency/2021/crypto-tax-laws-slipped-into-1t-infrastructure-bill/
