Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. GGCD

    GGCD The most wasted of days is one without CUM
    Donor
    Ohio State BuckeyesChicago CubsChicago BullsChicago Bears

    Once upon a time I owned something like 980 bitcoins.

    Oops.
     
    tmbrules likes this.
  2. LeVar Burton

    LeVar Burton Knee deep in a dynasty, ROLL TIDE!
    Kansas JayhawksAlabama Crimson Tide

    Man I don't even want to ask, but how was the pizza?
     
    hawkeyeOUTeast likes this.
  3. GGCD

    GGCD The most wasted of days is one without CUM
    Donor
    Ohio State BuckeyesChicago CubsChicago BullsChicago Bears

    I only had it for like 2 days so I don't feel terrible about it, but it would have been nice to have an extra 4-5 mil laying around.
     
  4. InZahnWeTrust

    InZahnWeTrust Well-Known Member
    Auburn TigersPhiladelphia PhilliesPhiladelphia 76'ersPhiladelphia EaglesPhiladelphia Flyers

    Bitpay
     
    Trop likes this.
  5. Why?Pokes

    Why?Pokes Take me back to the kine
    Donor
    Wake Forest Demon DeaconsDenver NuggetsWyoming Cowboys

    Bought $70 for shits and giggles awhile back. Was sitting at $550, closer to $450 now. Might be time to say later and book a few cheap flights. Or maybe I should dump a grand into it. Or just buy a lot of :airquote:novelties:airquote:.
     
  6. Nantucket

    Nantucket Northeastern Elitism+Alabama Downhome Sensibility
    Donor
    Alabama Crimson TideNew England Patriots

    You can always sell it for cash...
     
  7. LeVar Burton

    LeVar Burton Knee deep in a dynasty, ROLL TIDE!
    Kansas JayhawksAlabama Crimson Tide

  8. Frank Martin

    Frank Martin tough love makes better posters
    Donor
    South Carolina GamecocksBaltimore OriolesBaltimore RavensLiverpool

    I see the equifax data is being sold for bitcoin and ethereum.

    I just don't see how the government can avoid getting involved when it's being used for something like that that affects 143 million people.
     
    tmbrules likes this.
  9. InZahnWeTrust

    InZahnWeTrust Well-Known Member
    Auburn TigersPhiladelphia PhilliesPhiladelphia 76'ersPhiladelphia EaglesPhiladelphia Flyers

    Do you think that identity and credit card thieves do not accept USD as well?
     
  10. Frank Martin

    Frank Martin tough love makes better posters
    Donor
    South Carolina GamecocksBaltimore OriolesBaltimore RavensLiverpool

    Do you think there is a reason why bitcoin is preferred over USD?
     
    InZahnWeTrust likes this.
  11. JohnnyChimpo

    JohnnyChimpo This man, Lenny Pepperidge, AKA Lenny the Pep...
    Donor
    Nebraska CornhuskersCleveland BrownsCrystal PalaceCleveland CavaliersCleveland IndiansPGAGrateful DeadNebraska Cornhuskers alt

    Even with all the China chaos/agony last week , already back above $4,000.
     
    InZahnWeTrust likes this.
  12. JohnnyChimpo

    JohnnyChimpo This man, Lenny Pepperidge, AKA Lenny the Pep...
    Donor
    Nebraska CornhuskersCleveland BrownsCrystal PalaceCleveland CavaliersCleveland IndiansPGAGrateful DeadNebraska Cornhuskers alt

    China fired it's last shot over the bow and this thing still just wants to run up.

    [​IMG]
     
    InZahnWeTrust likes this.
  13. tmbrules

    tmbrules Make America Great Again!
    Donor
    Clemson TigersChicago CubsCincinnati RedsChicago Bears

    CFE, part of CBOE, starts listing bitcoin futures this month. I think its going to be a popular contract. Basically can trade bitcoins without ever touching a bitcoin.
     
    InZahnWeTrust likes this.
  14. New user

    New user Well-Known Member
    TMB OG

    They all moved to trading in Japan and South Korea.
     
  15. InZahnWeTrust

    InZahnWeTrust Well-Known Member
    Auburn TigersPhiladelphia PhilliesPhiladelphia 76'ersPhiladelphia EaglesPhiladelphia Flyers

    Sure, there's no doubt that the criminal underworld likes this form of currency - which is a great network effect for speculators. I can certainly see the possibility of the government getting involved with a data leak like Equifax, but it will be regulations geared towards companies like Equifax. Without even getting into the feasibility or the logistics of the US saying no more bitcoin for us, how effective would that even be? Ok, it's global, I will just settle my bitcoins into yen. Or euros. Or pounds. Or Naira. And then FX over to USD. Tough to outlaw a global currency that isn't bound by any one nation's laws.
     
    TLAU, LeVar Burton and JohnnyChimpo like this.
  16. Joe_Pesci

    Joe_Pesci lying dog-faced pony soldier
    Donor
    Wolfsburg

    unless the encryption is broken there is no real way for the government to get "involved"
     
  17. dblplay1212

    dblplay1212 Well-Known Member
    Donor TMB OG
    Alabama Crimson TideNew York YankeesJacksonville Jaguars2pacSneakersFormula 1

    I've always thought the gov't would get involved. Not bc of the criminal aspect of it but bc of the tax evasion part of it. There's nothing the US Govt hates more than not getting paid. Idk how they'll do it but they'll find a way to make sure they are getting their cut.
     
  18. Houndster

    Houndster Well-Known Member
    Donor TMB OG

    The IRS already has gotten involved. You're supposed to report your gains/losses just like stock trades.

    http://fortune.com/2017/07/10/bitcoin-irs-coinbase/
     
  19. TLAU

    TLAU Dog Crew
    Donor
    Auburn TigersAtlanta BravesAustin FC

    if the IRS really wanted to audit you for realized gains on BTC transactions they wouldn't need to "get involved" just get a copy of your bank and credit card statements to see how much you put in vs what you took out. The only question would be long-term or short term capital gains/losses.

    There's ways around this just like under/non reporting income elsewhere, ie - take your money out via bitcoin ATM instead of cashing out bank deposit. Not much different than a business accepting a cash payment and not reporting it as income. shit happens
     
    InZahnWeTrust and Houndster like this.
  20. colonel_forbin

    colonel_forbin Well-Known Member
    Donor

    Pretty sure Coinbase reports bank deposits of $20,000 and up to the IRS. Or something like that
     
  21. Nug

    Nug MexicanNug
    Donor
    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    Read and researched everything I could find for past 2-3 weeks. Bought $500 of BTH last Thurs when it was a little over $3K, and $150 each of ETH and LTC.

    Nice little rally over the weekend. How long until I'm rich?
     
    Jax Teller likes this.
  22. LeVar Burton

    LeVar Burton Knee deep in a dynasty, ROLL TIDE!
    Kansas JayhawksAlabama Crimson Tide

    Popular answer to questions like this on reddit appears to be "TWO Weeks". HODL
     
  23. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    I did something similar. Congrats on being rich with me.
     
  24. dblplay1212

    dblplay1212 Well-Known Member
    Donor TMB OG
    Alabama Crimson TideNew York YankeesJacksonville Jaguars2pacSneakersFormula 1

    Curious to see if they stop at 20k or if they just wanted the large transactions now and eventualky drop it to 10k. I think 10k is the number casinos have to report.
     
  25. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    I believe I saw that there is a bill that has been introduced in Congress that says transactions at $600 or less would not have to be reported.
     
    dblplay1212 likes this.
  26. dblplay1212

    dblplay1212 Well-Known Member
    Donor TMB OG
    Alabama Crimson TideNew York YankeesJacksonville Jaguars2pacSneakersFormula 1

    As in you and I would have to report over $600 or Coinbase would have to report?
     
  27. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    dblplay1212 likes this.
  28. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    This seems a little ambitious:

     
  29. TLAU

    TLAU Dog Crew
    Donor
    Auburn TigersAtlanta BravesAustin FC

    won some money this weekend. turning my illegal gambling money into BTCs :americafuckyeah:
     
  30. InZahnWeTrust

    InZahnWeTrust Well-Known Member
    Auburn TigersPhiladelphia PhilliesPhiladelphia 76'ersPhiladelphia EaglesPhiladelphia Flyers

    I lost my bitcoin wallet I swear
     
  31. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
    Donor
    Clemson TigersAtlanta BravesTiger WoodsCollege Football Playoff

    Download the airbitz app then transfer to Bitpay if its a lot of $ for the full American experience.
     
  32. Good Effort! Good Game!

    Good Effort! Good Game! Dallas Clark's biggest fan
    Donor

    Anybody else getting in on Monero? Given the fungibility of the coins, it's the only altcoin that's entirely "untraceable" and picking up a lot of momentum
     
    tmbrules likes this.
  33. TLAU

    TLAU Dog Crew
    Donor
    Auburn TigersAtlanta BravesAustin FC

    lmao not sure if serious but tag someone smarter than me about btcs for possible solutions
     
    InZahnWeTrust likes this.
  34. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    Where do you buy it? It's one I'd definitely like to buy but I'm not super savvy yet. I have a little invested through coinbase so far but that's just split among BTC, ETH, LTC...
     
  35. Guns

    Guns horse paste aficionado
    Donor

    i thought zcash was fully anonymous too
     
  36. Good Effort! Good Game!

    Good Effort! Good Game! Dallas Clark's biggest fan
    Donor

    I followed this guide. Pretty complicated process but there is infrastructure in the works to make it more accessible.
     
  37. Good Effort! Good Game!

    Good Effort! Good Game! Dallas Clark's biggest fan
    Donor

    Not sure but from some research Monero was the only fungible altcoin but I am new to this so (shrug)
     
  38. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosRice OwlsAston Villa

    about what i thought the guy behind ethereum would look like.
     
    Trop likes this.
  39. theregionsitter

    theregionsitter Well-Known Member
    TMB OG
    Notre Dame Fighting IrishChicago White SoxIndianapolis ColtsColumbus Blue JacketsColumbus Crew

    I think after the next pump up I'm gonna exit this

    I just cant see this going up forever
     
  40. colonel_forbin

    colonel_forbin Well-Known Member
    Donor

    I've been contemplating doing the same for the Big 3, but only because everything is so tied to BTC which isn't the best product. I'll still play around with cheap coins and ICOs for long holds.
     
  41. theregionsitter

    theregionsitter Well-Known Member
    TMB OG
    Notre Dame Fighting IrishChicago White SoxIndianapolis ColtsColumbus Blue JacketsColumbus Crew

    Lol at Ethereum replacing fucking Visa

    If Visa is on the blockchain what is the point of Ethereum. Visa has 1000x the staff of Ethereum they can just develop there own blockchain

    Maybe I just don't get it

    HODL
     
  42. InZahnWeTrust

    InZahnWeTrust Well-Known Member
    Auburn TigersPhiladelphia PhilliesPhiladelphia 76'ersPhiladelphia EaglesPhiladelphia Flyers

    Not serious... just wondering if the IRS would accept that answer for someone under audit
     
  43. Guns

    Guns horse paste aficionado
    Donor

    looks like John Frusciante at the height of his heroin addiction
     
  44. Jax Teller

    Jax Teller Well-Known Member
    Donor
    Alabama Crimson TideAtlanta BravesTennessee TitansNashville PredatorsNashville SC

    So I know someone posted some advice on getting into this market but I believe it got lost in the pages of dbl and rules doing their thing. Anyone want to make a summary post or something for a beginner?
     
  45. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    Don't touch it today, the bottom is falling out of it.
     
  46. Jax Teller

    Jax Teller Well-Known Member
    Donor
    Alabama Crimson TideAtlanta BravesTennessee TitansNashville PredatorsNashville SC

    Seems like a good time to buy.
     
  47. jrmy

    jrmy For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    Not when you have no clue where the bottom is