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.
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 novelties.
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.
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.
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.
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.
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/
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
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?
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.
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.
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
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...
I followed this guide. Pretty complicated process but there is infrastructure in the works to make it more accessible.
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.
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
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?