Bitcoin

Discussion in 'Financial Cents' started by sec_monkey, Nov 19, 2016.


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  1. sec_monkey

    sec_monkey SM Security Administrator

    Motomom34, stg58 and VisuTrac like this.
  2. ghrit

    ghrit Bad company Administrator Founding Member

    Casting a pretty wide net and praying for a catch?
     
  3. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Yep, cast a big enough net with a fine enough mesh in an attempt to maximize revenue.
     
  4. DarkLight

    DarkLight Live Long and Prosper - On Hiatus Site Supporter

    Have an account, never touched it. Never traded and I'm out of the bitcoin game.

    Spent it all at a retailer that collected tax on it.
     
    stg58 and sec_monkey like this.
  5. Altoidfishfins

    Altoidfishfins Monkey+++ Site Supporter+

    Don't have an account. Never understood it. No value relative to anything (gold, silver, uranium, platinum, dollars, renminbis???WTF?). Never understood how such a monetary system could ever work.
     
    mysterymet and 3cyl like this.
  6. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    I've always been skeptical. Bitcoins are "mined" by solving mathematical problems, so have no basis in anything tangible. So, created out of thin air, much like the dollar, but without even the backing of a country behind it. Seems the only real use is the transparent transaction, but I have no need to engage in international gun running, drug trafficking, human trafficking, hit men or the like. IMO one day it will evaporate after much real currency has flowed from the outside to whoever really controls the process.
     
  7. Gator 45/70

    Gator 45/70 Monkey+++

    I only deal in whole coins, No bits for me!
     
    techsar and VisuTrac like this.
  8. Ganado

    Ganado Monkey+++

    The sad part of this is they aren't worth anything till you buy something and you are taxed when you buy something .... so I see no point in this irs investigation
     
  9. techsar

    techsar Monkey+++

    I had tried, really tried to justify bitcoin, but personally could not...so I stuck with goldcoin and silvercoin ;)
     
    mysterymet and ghrit like this.
  10. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I guess you can pay tuition with it.
    CxumtyTWEAAKZUD.
    or airline tickets Cheap Airline Tickets, Airfares & Discount Air Tickets | CheapAir Cheap flights and last minute flights online | Abitsky.com
    or hotels Book a Hotel - Earn Bitcoins - Support a Charity
    Heck expedia accepts them.
    You can Xmas shop and buy prepaid gift cards at major retailers (internet and brick n mortar) Gyft gift card app lets buyers use bitcoins - CoinDesk

    So for now, Bitcoin is money. And when spent, the government wants to know your cost basis and long-term / short-term profit/loss at the time of the purchase.
     
  11. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Basically it comes down to this.
    The government doesn't want ANYTHING competing with the dollar.
    Be it Bitcoin, gold, oil, diamonds, RMB, Yen.
    If it can be used in commerce, they want a cut. If they can't get a cut, they want to kill it.
     
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  12. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    LOL, I just bought a little over 1/10th of a Bitcoin and put it on a mobile wallet on my Android Cell phone.
    Guess who's using it to buy beer for Monday's lunch?
    1DXyR55zc8PTdcpWoyT5NWNt2XoS7pxegc
     
    Ganado likes this.
  13. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Protecting Customer Privacy

    18 NOV 2016
    Protecting Customer Privacy

    Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers' records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes.

    Although Coinbase's general practice is to cooperate with properly targeted law enforcement inquiries, we are extremely concerned with the indiscriminate breadth of the government's request. Our customers’ privacy rights are important to us and our legal team is in the process of examining the government's petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.
     
  14. Cruisin Sloth

    Cruisin Sloth Special & Slow

    IMF is OUT of control .
    Not just in western , but the rest of the world want's out of the US dollar manipulation & quit taking down there value for them .
    Sloth
     
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