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Are we allowed to talk about Bitcoin?

Discussion in 'Sports and News' started by Dick Whitman, Dec 18, 2013.

  1. Songbird

    Songbird Well-Known Member

    I had a few hundred bucks worth last month when it was at $4,000. I cashed it in then. No big deal. Only really used it to deposit money into topbet account.
  2. Songbird

    Songbird Well-Known Member

  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    So. ... During the last 24 hours, the price of bitcoin (in dollars) has gone through, $12,000. ... $13,000. ... $14,000. ... and a little while ago touched $15,000.

    Here is how the price action on this thing has gone:
    $0 - $1000: 1789 days
    $1000- $2000: 1271 days
    $2000- $3000: 23 days
    $3000- $4000: 62 days
    $4000- $5000: 61 days
    $5000- $6000: 8 days
    $6000- $7000: 13 days
    $7000- $8000: 14 days
    $8000- $9000: 9 days
    $9000-$10000: 2 days
    $10000-$11000: 1 day
    $11000-$12000: 6 days
    $12,000-$13,000: 17 hours
    $13,000-$14,000: 4 hours
    $14,000-$15,000: 10 hours
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    One of the more entertaining things I have seen recently was Peter Boockvar getting into a twitter war with Neel Kashkari, the idiot head of the Minnesota Federal Reserve Branch. Boockvar called out the Fed and other central banks around the world for creating the conditions for the "everything" asset bubble for which bitcoin is becoming the poster child. Kashkari is a fucking idiot, yet these smug Mr. Magoo types are given the power to subvert the most important market there is and price fix the cost of money -- with disastrous results over and over again.

  5. playthrough

    playthrough Moderator Staff Member

    Kashkari is not only a pretty good name for a guy running a Federal Reserve branch, it reminds me of an old supermarket near my house in Florida.

  6. LongTimeListener

    LongTimeListener Well-Known Member

  7. BTExpress

    BTExpress Well-Known Member

  8. LongTimeListener

    LongTimeListener Well-Known Member

    Bitcoin exchange NiceHash robbed of $64 million from its wallet

    As the value of Bitcoin soars, it also turns holders of large volumes of the currency into prime targets for thieves. That’s what appears to have done in NiceHash, a Slovenia-based Bitcoin exchange that claims its cryptocurrency wallet has been cleared out of $64 million worth of BTC.

    If you want to trace your money, check a Caribbean island that does not have an extradition treaty with Slovenia.
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    So obviously allowing an exchange in Slovenia to hold your wealth is a major risk. But if you do it via a U.S. exchange you have a whole different set of problems. Coinbase is the biggest exchange in the U.S. They recently turned over info for thousands of their customers to the IRS -- kind of defeating one of the assumed benefits of bitcoin. The IRS is now dogging those people for short term cap gains tax. Worse, let's say you actually did think of the thing as a currency (which is a bit ridiculous, given its lack of stability -- it is being almost entirely used as a speculative vehicle right now) and you took your bitcoin that has appreciated in value relative to the dollar and bought a home in bitcoins. The IRS stills wants the tax from you.
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