What`s going on with the price? | Bitcointalksearch.org

bitcoinminer

sr. member

Activity: 322

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Quote from: Justsomeforumuser on June 11, 2011, 01:59:22 PM

Quote

Not really because when price goes back up beyond $31 they'll be OK.

I love how people confuse "if" and "when". Or past with future performance.

Quote

that person decided he wanted some inflation funny money

I also love how people call the thing that you can still exchange almost anywhere in the world for food, travel, goods and services "funny money"(as opposed to BTC which can literally buy almost nothing BUT the funny money, funnily enough).

lol +2

Justsomeforumuser

member

Activity: 84

Merit: 10

Quote

Not really because when price goes back up beyond $31 they'll be OK.

I love how people confuse "if" and "when". Or past with future performance.

Quote

that person decided he wanted some inflation funny money

I also love how people call the thing that you can still exchange almost anywhere in the world for food, travel, goods and services "funny money"(as opposed to BTC which can literally buy almost nothing BUT the funny money, funnily enough).

Jaime Frontero

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Activity: 126

Merit: 100

Quote from: bitcoinminer on June 11, 2011, 01:40:35 PM

where I'm from, lottery winnings are taxed 50-65%

this is why we really need to be able to sell specific coins in the client.

given that i pay my taxes, and given that capital gains tax will treat these two cases quite differently:

1.) i mined a block in march, when Bitcoin was at 86 cents/BTC, and sold that block when Bitcoin was at $31; and

1.) i mined a block yesterday, when Bitcoin was at $20, and sold it today at $20.

i would really REALLY like the option to provably sell under the second scenario - saving my older (and subject to higher tax) Bitcoin for another time.

bitcoinminer

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where I'm from, lottery winnings are taxed 50-65%

k

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Activity: 451

Merit: 250

Quote from: bitcoinminer on June 11, 2011, 01:33:11 PM

Quote from: Jaime Frontero on June 11, 2011, 01:32:20 PM

Quote from: bitcoinminer on June 11, 2011, 12:38:17 PM

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari

over a third of a million USD...

maybe both! Shocked

Well, probably more like $200k. I'm sure he reported it as a gain and paid the taxes on it.

if you successfully mine a block could that be considered like a lottery win? not sure in the US, but where I'm from lottery wins are tax free

bitcoinminer

sr. member

Activity: 322

Merit: 252

Quote from: Jaime Frontero on June 11, 2011, 01:32:20 PM

Quote from: bitcoinminer on June 11, 2011, 12:38:17 PM

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari

over a third of a million USD...

maybe both! Shocked

Well, probably more like $200k. I'm sure he reported it as a gain and paid the taxes on it.

Jaime Frontero

full member

Activity: 126

Merit: 100

Quote from: bitcoinminer on June 11, 2011, 12:38:17 PM

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari

over a third of a million USD...

maybe both! Shocked

bitcoinminer

sr. member

Activity: 322

Merit: 252

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari

piuk

hero member

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Merit: 1005

Quote from: allinvain on June 11, 2011, 12:09:45 PM

lol..awesome..thanks for that piuk, you're da man!

Those screenshots will have historical value - keep them safe somewhere

similar pattern emerging again, fascinating to watch.

Jaime Frontero

full member

Activity: 126

Merit: 100

Quote from: Maxxx on June 11, 2011, 12:10:43 PM

Quote from: k on June 11, 2011, 12:06:27 PM

Quote from: allinvain on June 11, 2011, 11:31:44 AM

Quote from: error on June 11, 2011, 11:24:16 AM

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

large transfer here

http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS

lot of the inputs look like block rewards, some from early blocks

That's a nice chunk of fiat.

no kidding.

check out the original blocks. looks like they're all mined blocks - many going back to 2009.

< waves from sideline... > best of luck, mystery miner!

ktomi

newbie

Activity: 12

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Bought some today at 20, 21 and 22 USD/BTC and I think I have made pretty good deal. Cheesy

rockstar

newbie

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Until Monday we won't have anything left...

rockstar

newbie

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Until Monday we won't have anything left...

allinvain

legendary

Activity: 3080

Merit: 1080

Quote from: k on June 11, 2011, 12:06:27 PM

Quote from: allinvain on June 11, 2011, 11:31:44 AM

Quote from: error on June 11, 2011, 11:24:16 AM

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

large transfer here

http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS

lot of the inputs look like block rewards, some from early blocks

Ahh I see now. Thanks. Well I guess that person decided he wanted some inflation funny money. Whatever, good for him/her.

Maxxx

member

Activity: 70

Merit: 11

Quote from: k on June 11, 2011, 12:06:27 PM

Quote from: allinvain on June 11, 2011, 11:31:44 AM

Quote from: error on June 11, 2011, 11:24:16 AM

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

large transfer here

http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS

lot of the inputs look like block rewards, some from early blocks

That's a nice chunk of fiat.

allinvain

legendary

Activity: 3080

Merit: 1080

Quote from: piuk on June 11, 2011, 11:58:10 AM

Quote from: allinvain on June 11, 2011, 11:42:06 AM

Damn, I wish I had a video or some screenshots of that happening!

It went down something like this:

Big buys supporting price
https://i.imgur.com/0AMNy.png

Remove said buys and add a sell (soon after the buy @ 16 also disappeared)
https://i.imgur.com/6qhAK.png

Watch people panic
https://i.imgur.com/3W95k.png

lol..awesome..thanks for that piuk, you're da man!

Those screenshots will have historical value - keep them safe somewhere

k

sr. member

Activity: 451

Merit: 250

Quote from: allinvain on June 11, 2011, 11:31:44 AM

Quote from: error on June 11, 2011, 11:24:16 AM

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

large transfer here

http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS

lot of the inputs look like block rewards, some from early blocks

piuk

hero member

Activity: 910

Merit: 1005

Quote from: allinvain on June 11, 2011, 11:42:06 AM

Damn, I wish I had a video or some screenshots of that happening!

It went down something like this:

Big buys supporting price
https://i.imgur.com/0AMNy.png

Remove said buys and add a sell (soon after the buy @ 16 also disappeared)
https://i.imgur.com/6qhAK.png

Watch people panic
https://i.imgur.com/3W95k.png

Bigpiggy01

hero member

Activity: 1138

Merit: 523

Currently peeps should pay more attention to diversifying between different exchanges right at this moment I can see price differences of over 3USD/BTC just waiting to be snapped up. This panic is just opening up the market for more opportunities.

A Mt Gox semi monopoly is going to cause these wild fluctuations no matter what, so diversify in terms of trading options and you'll make cash even in a temporary down spiral just like this one and come out with the additional cash to push values back up again.

allinvain

legendary

Activity: 3080

Merit: 1080

Quote from: piuk on June 11, 2011, 11:37:41 AM

Quote from: allinvain on June 11, 2011, 11:31:44 AM

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

I was watching and It looked like several big buy orders were cancelled and then someone dumped a large sell at the same time. Clear and successful attempt to cause a selloff.

Damn, I wish I had a video or some screenshots of that happening!

Topic: What`s going on with the price? (Read 5249 times)