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Science and Technology "Somewhere, something incredible is waiting to be known." - Carl Sagan.

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Old December 18 2013, 06:36 PM   #31
Robert Maxwell
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Re: Bitcoin - What exactly is the big deal?

The value is basically where it was back in late November.

This is why Bitcoin really sucks as a store of value, at least for now. Something so volatile is difficult to trust as being worth anything over the long term.

The US dollar doesn't double in value for a week then plummet by half the next, for instance.

This reinforces my belief that BTC prices are driven more by speculation than an actual perception of value or any measure of utility.

By the way, this is apparently why it's crashing.
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Old December 19 2013, 02:57 AM   #32
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Re: Bitcoin - What exactly is the big deal?

Lol, yep, I sold my 4 coins early this month. Made $2000 in the month I had them.
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Old December 23 2013, 07:39 PM   #33
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Re: Bitcoin - What exactly is the big deal?

Bitcoin is just a libertarian fantasy so as to avoid taxes. Who cares if infrastructure crumbles? It isn't "out-of-date" to suggest that this is just a tool of lawless ex-pats. If you were lucky to get in on the good side, good for you--ponzi schemes actually work--if you are at the top. Everyone else gets crushed.
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Old December 23 2013, 07:44 PM   #34
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Re: Bitcoin - What exactly is the big deal?

It's not a Ponzi scheme, it's a speculative currency-like asset. At least use the right terminology.
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Old December 24 2013, 02:33 AM   #35
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Re: Bitcoin - What exactly is the big deal?

Wonder how much longer the gravy train will last when it comes to taxation on Bitcoins? According the WSJ it might not be much longer.

Mr. Marian says that he and many other specialists are "stumped" as to how the IRS will rule on bitcoin. He says his own sense is that it's a commodity similar to gold, because there's a finite supply and it's a store of value. He adds that some bitcoin transactions may be akin to barter—which has its own tricky tax rules.
In the absence of guidance, advisers are telling clients that bitcoin income, gains and losses should be declared to the IRS.



"If you take a reasonable position, they probably will accept it," says Jonathan Horn, a certified public accountant in New York. He plans to advise his clients to file foreign account disclosures if they meet certain thresholds and hold bitcoin through an entity that isn't located in the U.S.


Taxpayers who have bitcoin and flout the tax rules, Mr. Horn warns, "are opening themselves to penalties, interest and possible fraud prosecution."
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Old December 24 2013, 03:51 AM   #36
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Re: Bitcoin - What exactly is the big deal?

I wonder if that's becuase it was mentioned on Almost Human 2 weeks ago?
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Old December 24 2013, 02:53 PM   #37
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Re: Bitcoin - What exactly is the big deal?

The government's been aware of bitcoin for a while now. Anyone who thinks they are a means to successfully avoid taxation is, of course, delusional. If you make money from it in any way, it's taxable.
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Old December 27 2013, 01:40 AM   #38
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Re: Bitcoin - What exactly is the big deal?

Welp, grabbed me a wallet and been screwing around with faucets that last few hours.

1st impressions:
  • Would I put cash into it? Nah.
  • Is it worth the time: Maybe. Takes a couple minutes every 1/2 hour or so, and more or less runs on a background tab.
  • Am I thinking gold mine? Nope. But it's costing me nothing, so for me there's no difference than any other "click to earn" program.
  • Long term: We'll see.
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Old December 28 2013, 01:59 AM   #39
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Re: Bitcoin - What exactly is the big deal?

SeerSGB wrote: View Post
Welp, grabbed me a wallet and been screwing around with faucets that last few hours.

1st impressions:
  • Would I put cash into it? Nah.
  • Is it worth the time: Maybe. Takes a couple minutes every 1/2 hour or so, and more or less runs on a background tab.
  • Am I thinking gold mine? Nope. But it's costing me nothing, so for me there's no difference than any other "click to earn" program.
  • Long term: We'll see.
Unless you invest in dedicated mining hardware your energy usage costs more than the bitcoins you generate just running a background app on your PC.
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Old December 28 2013, 03:12 AM   #40
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Re: Bitcoin - What exactly is the big deal?

Not mining, jsut doing stuff like online faucets: Daily BitCoin and the link. Type in a captcha every couple of hours and let it pool
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Old December 28 2013, 05:42 AM   #41
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Re: Bitcoin - What exactly is the big deal?

got a link? not familiar with "faucets".
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Old December 28 2013, 05:48 AM   #42
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Re: Bitcoin - What exactly is the big deal?

sojourner wrote: View Post
got a link? not familiar with "faucets".
http://faucetbtc.com/index.php

http://freebitco.in/?op=home
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Old December 28 2013, 07:00 AM   #43
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Re: Bitcoin - What exactly is the big deal?

Of course, by typing in CAPTCHAs you are contributing to the activities of spammers. (What do you think they want the CAPTCHAs solved for?)
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