The wall at $30 is eroding like the wall at $20 did.
Was 13k a few hours ago, now 11k
Topic: Wall Observer - MtGoxUSD wall movement tracker - page 647. (Read 1811605 times)
this time its different, this time its a bubble!
oh wait nvm its the same..
oh wait nvm its the same..
I remember the 2011 bubble. Everyone and his dog were saying "no it is not a bubble, the revolution just started blabla, media blabla" and so on.
Now, maybe this is not a bubble, i have no idea. But the fact that everyone are saying again the same things... uh well is a bit worrying.
Now, maybe this is not a bubble, i have no idea. But the fact that everyone are saying again the same things... uh well is a bit worrying.
Do the bots buy/sell in larger quantities (> 50)? It's pretty hard to tell if the bots are strictly penny oriented because after sells or buys there is an immediate 10+ transactions of bot noise.
I don't know if anyone actually knows the answer, but it's worth a shot.
I don't know if anyone actually knows the answer, but it's worth a shot.
Much of the trading is bots. However, not all bots are trading to trade. Many are used to do buys and sells for merchants and services that handle conversion.
Do the bots buy/sell in larger quantities (> 50)? It's pretty hard to tell if the bots are strictly penny oriented because after sells or buys there is an immediate 10+ transactions of bot noise.
I don't know if anyone actually knows the answer, but it's worth a shot.
I don't know if anyone actually knows the answer, but it's worth a shot.
A significant rise in difficulty combined with an increase in price. The latter is significant mostly because it can lead to adverse income tax consequences since holding Bitcoin does not create a tax liability asset while mining Bitcoin does.
You had that sentence backwards so I corrected it for you. Perhaps you should read A Lawyer's Take On Bitcoin And Taxes.
With a rise in price there is an unrecognized capital gain which results in no current tax liability until a recognition event.
With mining there is no ordinary income until a recognition event (sale, transfer, barter, etc.) of the bitcoins just like there is no ordinary income with fruit trees, etc. until a recognition event. However, there is a deduction for ordinary and necessary business expenses such as depreciation of mining equipment, power costs, etc. Depending on the nature of your business this deduction could be used to offset other recognized taxable income and reduce current tax liability.
Therefore, mining bitcoins creates a tax asset not a tax liability.
I disagree.
First of all A Lawyer's Take On Bitcoin And Taxes applies to the United States not Canada. Secondly the case that Bitcoin mining income only triggers a tax event when the Bitcoins are sold is a very aggressive tax position that is begging for an audit. Consider this example. One purchases computer equipment and then one uses it to secure the payment network of a bank. The bank pays for this service in gold. Can one defer the income until the gold is sold. I do not think so.
In any case this belongs in legal not speculation so maybe we can take this discussion on the tax consequences faced by bitbulls in various countries, there and leave this bitbear's thread alone.
give me BTC and I'll give you BTC hardware to mine BTC...at what rate...is anyone's guess. But it is a "BARGAIN"....instead of letting your investment go up 600% in 8 months, just give it to me and I'll ensure the difficulty of mining goes up too before you can start mining with this SUPER DUPER ASIC HARDWARE.
smoothie you make me wet in the pants that I didn't buy into the ASIC pre-orders
Haha well that is basically what BFL did and is still doing.
BFL is a failure like none other. They claimed to have venture capital for their R&D yet...if that was TRUE they should have just did the R&D quietly until they had the product then sell it.
No need for customer pre-order money.
The way I see it is that BFL conned people into giving up their bitcoins/capital as more like a loan with 0% interest and in fact negative interest in terms of bitcoin and those suckers who did buy into it....will only get a piece of hardware that can mine (in a best case scanerio) 25% of the bitcoins it could have had it been released in the summer. 25% is a best case scenario.
BFL seriously fucked a ton of suckers up the ass with their PRE-ORDER bullshit.
A significant rise in difficulty combined with an increase in price. The latter is significant mostly because it can lead to adverse income tax consequences since holding Bitcoin does not create a tax liability asset while mining Bitcoin does.
You had that sentence backwards so I corrected it for you. Perhaps you should read A Lawyer's Take On Bitcoin And Taxes.
With a rise in price there is an unrecognized capital gain which results in no current tax liability until a recognition event.
With mining there is no ordinary income until a recognition event (sale, transfer, barter, etc.) of the bitcoins just like there is no ordinary income with fruit trees, etc. until a recognition event. However, there is a deduction for ordinary and necessary business expenses such as depreciation of mining equipment, power costs, etc. Depending on the nature of your business this deduction could be used to offset other recognized taxable income and reduce current tax liability.
Therefore, mining bitcoins creates a tax asset not a tax liability.
give me BTC and I'll give you BTC hardware to mine BTC...at what rate...is anyone's guess. But it is a "BARGAIN"....instead of letting your investment go up 600% in 8 months, just give it to me and I'll ensure the difficulty of mining goes up too before you can start mining with this SUPER DUPER ASIC HARDWARE.
smoothie you make me wet in the pants that I didn't buy into the ASIC pre-orders
give me BTC and I'll give you BTC to mine BTC...at what rate...is anyone's guess. But it is a "BARGAIN"....instead of letting your investment go up 600% in 8 months, just give it to me and I'll ensure the difficulty of mining goes up too before you can start mining with this SUPER DUPER ASIC HARDWARE.
I do not deny there is a risk. A significant rise in difficulty combined with an increase in price. The latter is significant mostly because it can lead to adverse income tax consequences since holding Bitcoin does not create a tax liability while mining Bitcoin does. My analysis is that in my case the opportunity for profit in BTC terms exceeds the risk of loss. I may be wrong of course only the market will be able to tell.
give me BTC and I'll give you BTC hardware to mine BTC...at what rate...is anyone's guess. But it is a "BARGAIN"....instead of letting your investment go up 600% in 8 months, just give it to me and I'll ensure the difficulty of mining goes up too before you can start mining with this SUPER DUPER ASIC HARDWARE.
Are we still less than $1 MIL away from $thirty-fucking-five ?
and if avalon takes some btc orders; sells a chunk of btc after the spike to $35 or so; if it causes a panic SELL; even that would be good for them because then people would be buying in btc's that are cheaper (have to send more btc; btc is the only currency available to buy the avalon ASIC's) then they sit on more btc that will increase in value if they hold
and if avalon takes some btc orders; sells a chunk of btc after the spike to $35 or so; if it causes a panic SELL; even that would be good for them because then people would be buying in btc's that are cheaper (have to send more btc; btc is the only currency available to buy the avalon ASIC's) then they sit on more btc that will increase in value if they hold
If you sold some coins just prior to the biggest jump in months, raise your hands 
I did. 56.82162555 to be exact to purchase an Avalon ASIC miner. I expect the device to produce a profit in BTC terms even if the BTC / USD exchange rate rises significantly. So not everyone who sold yesterday is a bear.
oh yeah, and despite me being a permabull:
but just a little (I sold)
+1 but just a little (I sold)
oh yeah, and despite me being a permabull:
but just a little (I sold)
but just a little (I sold)
Bubbles don't come out of no where... the news is what is feeding the bubble
none of this is new, from the start you could buy hosting, gamble and buy drugs
bitcoin has once again moved to far to fast because of the "game changing good news!!!"
the really good news is that you can now sell your coins above 25$ again...
none of this is new, from the start you could buy hosting, gamble and buy drugs
bitcoin has once again moved to far to fast because of the "game changing good news!!!"
the really good news is that you can now sell your coins above 25$ again...
I disagree. I said last November:
my intuition says: we're sitting on a rocket about to be ignited
my rational mind tries to find explanations for the intuition:
don't jump off
my rational mind tries to find explanations for the intuition:
- ...
- Bitcoin fundamentally rocksolid and more and more people "get it"
- All this taken together might push bitcoin beyond the next "critical mass" checkpoint of adoption / public awareness within the next 1-3 months.
- ...
- rocket ignition
don't jump off
It came true.
Now, we can argue wether we have indeed tapped a whole new larger userbase (I argue this and publicly available data seems to support it) or wether this is just driven by news (you seem to argue this). If it's indeed the former, there is no reason whatsoever to believe we're in a bubble, right?
don't jump off
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