Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20122. (Read 26709760 times)
November 24, 2015, 09:19:45 PM
And here comes the crush.. already showing 317.9 on bitfitex
November 24, 2015, 09:01:18 PM
November 24, 2015, 08:57:08 PM
Are you mining your BTC? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy BTC with USD, pay trading fee; Buy Visa card from Coinbase, pay for card; Have coinbase convert the BTC you just bought back into USD, pay merchant.
Are you starting your own corporation? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy bonds with USD, pay trading fee; Buy Visa card from brokerage,snip rest of nonsense>
Hmm. Yeah - most people with brokerage accounts, and managing liquid assets in multiple asset classes, have credit ratings that are in the toilet eta: a deserved buncha eyerolly smilies:
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A well balanced liquid asset portfolio is likely to contain more than just cash. A bitcoiner's liquid asset portfolio might even contain some (*gasp!*) bitcoin. What makes you think I'd need to buy bitcoin in order to fund the card to spend on a single transaction?
Well, if you're independently wealthy or [more likely] unemployed, I guess there's no need to buy bitcoin to spend it on day-to-day stuff.If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
A Bitcoiner that believes in the future of Bitcoin might plausibly put the bulk of their highly liquid (i.e. cash equivalent) funds in Bitcoin rather than in cash. This way, the price appreciation that he expects for his underlying asset works to increase his liquid funds, in the time when the funds are sitting awaiting spending. Putting off the conversion to USD at the last moment is advantageous in a bull market.
But hey - if you're too damn cheap to spend $10 in order to make many many times more, that's your bidnez.
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My question stands: do you or do you not buy bitcoin with fiat?
I don't recall you actually asking that question, but whatevs. Why are you so fascinated with what I do with my money? That said, I have indeed bought bitcoin. I buy some from time to time. Would seem to me to be pretty odd for me to participate in this forum if I didn't have any connection to bitcoin.
November 24, 2015, 08:45:14 PM
Well, if you're independently wealthy or [more likely] unemployed, I guess there's no need to buy bitcoin to spend it on day-to-day stuff.
If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
^Another paid, JIDF, Zionazi, pro-central bank, anti-bitcoin spam account. This is about the 6000th they created so far. Your spam accounts are useless now that everyone knows where they originate from.
WTF is wrong with yo bro? Did
*honest, i know nothing about that incident, just a hypothetical i totally made up. Jews are a decent, kind people who'd never do such a thing.
Not even if you beg.
November 24, 2015, 08:27:03 PM
November 24, 2015, 08:23:53 PM
Well, if you're independently wealthy or [more likely] unemployed, I guess there's no need to buy bitcoin to spend it on day-to-day stuff.
If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
^Another paid, JIDF, Zionazi, pro-central bank, anti-bitcoin spam account. This is about the 6000th they created so far. Your spam accounts are useless now that everyone knows where they originate from, JIDF scumbag.
Ovey! The goy have discovered the Bitcoin final solution! They must be stopped! Remember the Shoa, remember the 6 trillion !
November 24, 2015, 08:10:07 PM
Are you mining your BTC? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy BTC with USD, pay trading fee; Buy Visa card from Coinbase, pay for card; Have coinbase convert the BTC you just bought back into USD, pay merchant.
Are you starting your own corporation? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy bonds with USD, pay trading fee; Buy Visa card from brokerage,snip rest of nonsense>
But ...you bought yours, huh? On DNM, no doubt?
Or is your credit so shot that no one will give you one?
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A well balanced liquid asset portfolio is likely to contain more than just cash. A bitcoiner's liquid asset portfolio might even contain some (*gasp!*) bitcoin. What makes you think I'd need to buy bitcoin in order to fund the card to spend on a single transaction?
Well, if you're independently wealthy or [more likely] unemployed, I guess there's no need to buy bitcoin to spend it on day-to-day stuff.If, OTOH, you do have a job, what do you do with the $$$ you make? Flush down toilet because worthless, or?
My question stands: do you or do you not buy bitcoin with fiat?
November 24, 2015, 08:05:25 PM
November 24, 2015, 08:01:14 PM
November 24, 2015, 07:54:36 PM
I think maybe you're too dug in on hating this idea to open your mind to the benefits.
It's not something I'd use daily. Hell - it's not even available yet in my jurisdiction. But any option is another option. In this crypto world, more options are only a good thing.
I don't hate the idea, like I said, I wish them luck, if someone finds it beneficial to them and their situation... great.
I've also said previously that if someone does ALL their fiat interfacing with coinbase, their gain/loss statements will be quite convenient.
For me personally, it doesn't seem beneficial in any compelling way.
November 24, 2015, 07:22:16 PM
Bitcoin Visa doesn't charge hidden fees Visa typically charges retailers. This allows you to get ~5% discount, whenever and wherever you use it. Not 100% sure, but would make sense. Please correct me if wrong.
That doesn't sound correct. I believe Visa is a standard charge for merchants. Remember you're transacting in fiat, not Bitcoin.
I believe the card issuer gets the kickback (hence why every entity you associate with wants to get you to sign up for a CC) so it looks like they might be double dipping.
Which considering the low volume may not be that big of a deal.
November 24, 2015, 07:20:09 PM
Coinbase loads the $$$ onto your Visa card, and you spend $$$
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November 24, 2015, 07:13:07 PM
Are you mining your BTC? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy BTC with USD, pay trading fee; Buy Visa card from Coinbase, pay for card; Have coinbase convert the BTC you just bought back into USD, pay merchant.
Are you starting your own corporation? Because if not, it's just an extra step in the most convoluted way to buy shit: Buy bonds with USD, pay trading fee; Buy Visa card from brokerage, pay for card; Have brokerage convert the bonds you just bought back into USD, pay merchant.
A well balanced liquid asset portfolio is likely to contain more than just cash. A bitcoiner's liquid asset portfolio might even contain some (*gasp!*) bitcoin. What makes you think I'd need to buy bitcoin in order to fund the card to spend on a single transaction?
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Guess which steps you can cut out, and get free money to play with for a month?
Tell me if you need a hint/another day to think.
Tell me if you need a hint/another day to think.
Guess which steps don't need to be cut out?
You can have that day and hint to do your own thinking on the matter.
November 24, 2015, 07:05:00 PM
You got a better way to spend bitcoin at 'Every Where You Want To Be', as it says in the tagline?
Yeah, just sell some bitcoin and spend the proceeds.
Thereby making two transactions -- one of them fairly heavy-weight -- and a wait time in between, out of each transaction. My time in a single such transaction is worth the $10 one time fee.
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They're just selling your bitcoin for you in small amounts, creating a taxable gain/loss on every single transaction you make.
And providing you with a nice tidy statement capturing the taxable event which is automatically imported into my accounting software.
I think maybe you're too dug in on hating this idea to open your mind to the benefits.
It's not something I'd use daily. Hell - it's not even available yet in my jurisdiction. But any option is another option. In this crypto world, more options are only a good thing.
November 24, 2015, 07:01:25 PM
November 24, 2015, 06:51:10 PM
Whatevs. Use a service, pay for the privilege. Not a problem. You got a better way to spend bitcoin at 'Every Where You Want To Be', as it says in the tagline?
Yeah, just sell some bitcoin and spend the proceeds. They're just selling your bitcoin for you in small amounts, creating a taxable gain/loss on every single transaction you make.
I get that some people like to think they're spending bitcoin, but you're just having a middle man sell it for you, while creating a complete accounting mess in the process.
I know, I know, most of y'all don't pay taxes. But that's not because you aren't required to... it's just because you're too small for them to go through the hassle of pinning you to the wall and shaking the lint out of your pockets. (not you specifically jbreher, just a general observation)
I wish them luck with the card, but personally, I see absolutely no benefit to using it.
November 24, 2015, 06:47:45 PM
You got a better way to spend bitcoin at 'Every Where You Want To Be', as it says in the tagline?
*EverywhereI'll take that as a 'no' then.
You are not spending it everywhere. You're spending your bitcoin at Coinbase, Coinbase loads the $$$ onto your Visa card, and you spend $$$ everywhere. No retailer ever sees BTC.
November 24, 2015, 06:45:16 PM
No problem at all. I guess in a world where you will never ever never part with your bitcoins, then the ability to spend them without any fuss, muss, bother, wear, or tear might not matter to you.
One problem: you're not spending bitcoin. You're spending good old USD via Visa. Coinbase sells your bitcoin to other bitcoiners, and funds your ridiculous Visa card with that money.
At the instant of purchase. So what? It is still an effortless means of converting bitcoin to stuff.
November 24, 2015, 06:41:58 PM
You got a better way to spend bitcoin at 'Every Where You Want To Be', as it says in the tagline?
*EverywhereI'll take that as a 'no' then.
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