Bitcoins - fad or trend?

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CaptainW
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Re: Bitcoins - fad or trend?

Postby CaptainW » Wed Nov 15, 2017

SilverDoge wrote:
tdtwedt wrote:The IRS Is Puzzled: Why Out Of 500,000 Coinbase Users, Only 900 Reported Gains Or Losses


I can't believe 900 people sold their bitcoin back for dirty fiat. That is the real mystery. You know they are regretting that decision, if they sold back in 2015 or 2016.



Exactly. Couldn't the reason for so few reporting be that the overwhelming majority of holders haven't cashed out? I would venture to guess that most are either using BTC for making other trades or holding long term.
Of course even if that's the case, it won't stop the government from going on another witch hunt.

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed Nov 15, 2017

Good post xelint.

Visa, MasterCard, and the banks are getting robbed from fraud. I gave an ex-girlfriend my ATM Bank card (Visa), and what was going to be a $30 purchase at Walmart turned into a $2500 shopping spree. I got robbed.

I've only used that ATM card for groceries from Winn-Dixie and Publix, and fuel for my truck,

Visa's fraud department sent me a text about the transaction, after the transaction was approved. I called Visa and my bank, explained the situation, and changed my accounts and my card. The ex is currently in prison for grand theft. I don't know if she has to make restitution once she gets out.

Somebody took the hit. My only cost was inconvenience for 1 day. Visa or the bank credited back my money within 24 hours. I doubt if the ex will ever be in a position to make restitution. I didn't loose any money. Visa or Walmart took the hit, which is why their credit card interest rates are so high.

The morel to the story is that I was a big dummy.

I should have given her cash for the purchase. I've loaned my ATM card and the PIN to several people here in my trailer park, and I've never had a problem getting repaid at the 1st of the month.

They usually need beer, cigarettes, personal hygiene products, and cat food. It didn't seem like a big deal with the ex, since I was already giving out the are ATM card to several people in the park. My mistake, big dummy.

The end of the story
Last edited by Bucketeer on Wed Nov 15, 2017, edited 1 time in total.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Wed Nov 15, 2017

BTC at $7300 at this hour. What a lovely morning. :clap: Of course it will crash again, the manipulators will see to that if organic forces do not. Then it will come back, the manipulators with more BTC and cash in their bags. Up and down we ride the bucking bull. BTC only has to lose $3000 and BCH gain $3000 for parity. I have to admit, it's a bold prediction, but for now it's going in the other direction.

As for Coinbase clients not reporting their gains, is it any different than other exchanges that trade in fiat? I suspect the IRS will catch up with the big evaders, not sure they will expend resources on someone who doesn't declare a few hundred or even a few thousand dollars. They're looking for the whales who profit hundreds of thousands or more and don't declare the capital gains. Personally, I have taken out just about the same as I have put in, and can document it. If I cash out significant profit I will have to declare it on my tax return. There may be recourse in the form of gifts, medical expenses, health savings account, other things I haven't researched.
Last edited by Long John on Wed Nov 15, 2017, edited 1 time in total.

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Wed Nov 15, 2017

http://bitcoinist.com/bitcoin-clashic-b ... cash-fork/

Weirdness with Bitcoin Cash being reported. A "malicious hard fork" calling itself Bitcoin Cash Classic, or Clashic for short. It sounds like a joke or a prank, but someone really did mine the block. An attack by people who do not wish BCH well? Sometimes a little regulation seems like it wouldn't be such a bad thing... Anyway, Bitmex said it's selling all of its Bitcoin Cash and crediting customers with the appropriate amount of Bitcoin. It doesn't sound like the customers have any say in the matter.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Nov 15, 2017

Long John wrote:Sometimes a little regulation seems like it wouldn't be such a bad thing...


:evil:

NO. Free Markets reign.

:pop:
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Nov 15, 2017

Bucketeer wrote:Good post xelint.

Visa, MasterCard, and the banks are getting robbed from fraud. I gave an ex-girlfriend my ATM Bank card (Visa), and what was going to be a $30 purchase at Walmart turned into a $2500 shopping spree. I got robbed.

I've only used that ATM card for groceries from Winn-Dixie and Publix, and fuel for my truck,

Visa's fraud department sent me a text about the transaction, after the transaction was approved. I called Visa and my bank, explained the situation, and changed my accounts and my card. The ex is currently in prison for grand theft. I don't know if she has to make restitution once she gets out.

Somebody took the hit. My only cost was inconvenience for 1 day. Visa or the bank credited back my money within 24 hours. I doubt if the ex will ever be in a position to make restitution. I didn't loose any money. Visa or Walmart took the hit, which is why their credit card interest rates are so high.

The morel to the story is that I was a big dummy.

I should have given her cash for the purchase. I've loaned my ATM card and the PIN to several people here in my trailer park, and I've never had a problem getting repaid at the 1st of the month.

They usually need beer, cigarettes, personal hygiene products, and cat food. It didn't seem like a big deal with the ex, since I was already giving out the are ATM card to several people in the park. My mistake, big dummy.

The end of the story


Tom, this story is hilarious. So many life lessons in just a few short paragraphs. Crypto can solve both global problems, and keep girlfriends on a short leash! :lol:
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MaxGravy
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Re: Bitcoins - fad or trend?

Postby MaxGravy » Wed Nov 15, 2017

This last correction in BTC was around 25% so I picked up another .05. I now have .1 BTC.
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Re: Bitcoins - fad or trend?

Postby Purple and Gold » Wed Nov 15, 2017

Bucketeer wrote:
They usually need beer, cigarettes, personal hygiene products, and cat food


hahaha, thats funny
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Nov 15, 2017

MaxGravy wrote:This last correction in BTC was around 25% so I picked up another .05. I now have .1 BTC.


Congrats. 25% dip indeed. Best time to buy.
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Nov 16, 2017

Bitcoin rising. How long until the next ATH?
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu Nov 16, 2017

SilverDoge wrote:Bitcoin rising. How long until the next ATH?

The average ATH on all exchanges, $7582, is actually not far above where BTC peaked this morning, but I think on a couple individual exchanges it reached into the $7800s earlier this month.

BTC hit my sell order of almost $7500 earlier this morning. I sold 2 coins not to cash out but to hopefully parlay into more than 2 at the next dip. Once again, a little fish splashing with the whales. :lol: I've regretted chickening out just before the last crash; I missed out on a chance to increase my BTC, by quite a bit as it turned out. This time I'm going for it, but only with a couple coins. I'm pretty confident $7500 is not the lowest BTC will ever be from this point forward. Buyback target is below $7K.

(Edit: BTC has actually reached and surpassed $7500 now. This morning it got to within a dollar before bouncing off. Busting through that barrier has triggered a buying spree. Here comes the ATH!)

The market overall has reached an all-time high of $221 billion, with Bitcoin's market share increasing again. It was 86% in February before alts exploded, dropped as low as 36% in June (ETH was 30% and there was "flippening" talk), climbed into the 60s early this month, dropped to 47.7% during the brief but intense BCH frenzy a few days ago, and today is 56.4%

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu Nov 16, 2017

Touched $7700 a few times just now, but there seems to be heavy resistance. Is this where the correction starts?

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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Nov 16, 2017

Long John wrote:Is this where the correction starts?


$10,000. We will see resistance for sure.
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Nov 16, 2017

SilverDoge wrote:
Bucketeer wrote:Good post xelint.

Visa, MasterCard, and the banks are getting robbed from fraud. I gave an ex-girlfriend my ATM Bank card (Visa), and what was going to be a $30 purchase at Walmart turned into a $2500 shopping spree. I got robbed.

I've only used that ATM card for groceries from Winn-Dixie and Publix, and fuel for my truck,

Visa's fraud department sent me a text about the transaction, after the transaction was approved. I called Visa and my bank, explained the situation, and changed my accounts and my card. My ex is currently in prison for grand theft. I don't know if she has to make restitution once she gets out.

Somebody took the hit. My only cost was inconvenience for 1 day. Visa or the bank credited back my money within 24 hours. I doubt if the ex will ever be in a position to make restitution. I didn't loose any money. Visa or Walmart took the hit, which is why their credit card interest rates are so high.

The morel to the story is that I was a big dummy.

I should have given her cash for the purchase. I've ginen my ATM card and the PIN to several people here in my trailer park, and I've never had a problem getting repaid at the 1st of the month.

They usually need beer, cigarettes, personal hygiene products, and cat food. It didn't seem like a big deal with the ex, since I was already giving out the are ATM card to several people in the park. .My mistake, big dummy.

The end of the story


Tom, this story is hilarious. So many life lessons in just a few short paragraphs. Crypto can solve both global problems, and keep girlfriends on a short leash! :lol:


Well, let's put this into perspective. I''m 62 and she is 33. She needed a place to stay, and she is beautiful- a real knock out. She cooked and cleaned, and was a great a smuggle bunny.

She was a prostitute. She worked Back Pages in Orlando, and her rate was $250 per hour. She had 1 or 2 dates per day, which paid for her dope and other expenses. It never happened at my trailer. Sometimes I played bodyguard if she thought the date was sketchy. She didn't have a pimp, she was independent. Her clients were mostly married guys, they didn't want any problems with pimps or law enforcement. She is a classy girl.

She has a 2 year sentence. I gift her money to her commissary account every month

tdtwedt wrote:
SilverDoge wrote:
tdtwedt wrote:The IRS Is Puzzled: Why Out Of 500,000 Coinbase Users, Only 900 Reported Gains Or Losses


I can't believe 900 people sold their bitcoin back for dirty fiat. That is the real mystery. You know they are regretting that decision, if they sold back in 2015 or 2016.


Sounds to me like the IRS has everyone's information that uses coinbase and is going to look through the completed tax returns to compare the data. If there is a mystery maybe they can figure out the solution. ;)


Your wrong again tdtwedt. Coinbase and the IRS are gonna settle for the previous years, hand over over some big fish to make an example. and Coinbase will start sending out 1099s to it's customers.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Nov 16, 2017

Bucketeer wrote:
SilverDoge wrote:
Bucketeer wrote:Good post xelint.

Visa, MasterCard, and the banks are getting robbed from fraud. I gave an ex-girlfriend my ATM Bank card (Visa), and what was going to be a $30 purchase at Walmart turned into a $2500 shopping spree. I got robbed.

I've only used that ATM card for groceries from Winn-Dixie and Publix, and fuel for my truck,

Visa's fraud department sent me a text about the transaction, after the transaction was approved. I called Visa and my bank, explained the situation, and changed my accounts and my card. My ex is currently in prison for grand theft. I don't know if she has to make restitution once she gets out.

Somebody took the hit. My only cost was inconvenience for 1 day. Visa or the bank credited back my money within 24 hours. I doubt if the ex will ever be in a position to make restitution. I didn't loose any money. Visa or Walmart took the hit, which is why their credit card interest rates are so high.

The morel to the story is that I was a big dummy.

I should have given her cash for the purchase. I've ginen my ATM card and the PIN to several people here in my trailer park, and I've never had a problem getting repaid at the 1st of the month.

They usually need beer, cigarettes, personal hygiene products, and cat food. It didn't seem like a big deal with the ex, since I was already giving out the are ATM card to several people in the park. .My mistake, big dummy.

The end of the story


Tom, this story is hilarious. So many life lessons in just a few short paragraphs. Crypto can solve both global problems, and keep girlfriends on a short leash! :lol:


Well, let's put this into perspective. I''m 62 and she is 33. She needed a place to stay, and she is beautiful- a real knock out. She cooked and cleaned, and was a great a smuggle bunny.

She was a prostitute. She worked Back Pages in Orlando, and her rate was $250 per hour. She had 1 or 2 dates per day, which paid for her dope and other expenses. It never happened at my trailer. Sometimes I played bodyguard if she thought the date was sketchy. She didn't have a pimp, she was independent. Her clients were mostly married guys, they didn't want any problems with pimps or law enforcement. She is a classy girl.

She has a 2 year sentence. I gift her money to her commissary account every month


Oh man, this story gets funnier and funnier. You originally said she was an "ex" but now refer to her as a "classy" prostitute? I'm afraid to ask for further clarification. So is she in jail from stealing from you, or for other charges?

Can you gift her money to the commissary in crypto? Now that would be impressive.
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Double3
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Re: Bitcoins - fad or trend?

Postby Double3 » Thu Nov 16, 2017

I need to hear more.... :pop:





:lol:

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Nov 16, 2017

Oh man, you guys.

I toss Kristin $100 a month. and visit visit her once a a month. I like her, and I want her to be successful. after prison.

My last job before I retired was working for the State of Florida. I processed food assistance and medicaid applications, interviewed the applicants, and awarded the benefits (DCF). Food assistance (FA) is a huge deal. I was generally negative about FA until I became aware and understood that FA is a subsidy that benefits People, The States, Farmers, Groceries Stories, Truckers, and Store Clerks.

I've interviewed a lot of people that I believed were lying about their situation. I've also talked to people that were in desperate situations. I've never quit a job before DCF. The system sucks, but they provide help to a lot of people.

You wound not believe some of stories I've been told.

Let's get back to Bitcoin
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Re: Bitcoins - fad or trend?

Postby Silversummit » Thu Nov 16, 2017

Long John wrote:Touched $7700 a few times just now, but there seems to be heavy resistance. Is this where the correction starts?

I think that resistance is broke.
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Re: Bitcoins - fad or trend?

Postby Altima » Thu Nov 16, 2017

Bitcoin broke 8000 ! :pop:
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Nov 16, 2017

SilverDoge wrote:
Bucketeer wrote:
SilverDoge wrote:
Bucketeer wrote:Good post xelint.

Visa, MasterCard, and the banks are getting robbed from fraud. I gave an ex-girlfriend my ATM Bank card (Visa), and what was going to be a $30 purchase at Walmart turned into a $2500 shopping spree. I got robbed.

I've only used that ATM card for groceries from Winn-Dixie and Publix, and fuel for my truck,

Visa's fraud department sent me a text about the transaction, after the transaction was approved. I called Visa and my bank, explained the situation, and changed my accounts and my card. My ex is currently in prison for grand theft. I don't know if she has to make restitution once she gets out.

Somebody took the hit. My only cost was inconvenience for 1 day. Visa or the bank credited back my money within 24 hours. I doubt if the ex will ever be in a position to make restitution. I didn't loose any money. Visa or Walmart took the hit, which is why their credit card interest rates are so high.

The morel to the story is that I was a big dummy.

I should have given her cash for the purchase. I've ginen my ATM card and the PIN to several people here in my trailer park, and I've never had a problem getting repaid at the 1st of the month.

They usually need beer, cigarettes, personal hygiene products, and cat food. It didn't seem like a big deal with the ex, since I was already giving out the are ATM card to several people in the park. .My mistake, big dummy.

The end of the story


Tom, this story is hilarious. So many life lessons in just a few short paragraphs. Crypto can solve both global problems, and keep girlfriends on a short leash! :lol:


Well, let's put this into perspective. I''m 62 and she is 33. She needed a place to stay, and she is beautiful- a real knock out. She cooked and cleaned, and was a great a smuggle bunny.

She was a prostitute. She worked Back Pages in Orlando, and her rate was $250 per hour. She had 1 or 2 dates per day, which paid for her dope and other expenses. It never happened at my trailer. Sometimes I played bodyguard if she thought the date was sketchy. She didn't have a pimp, she was independent. Her clients were mostly married guys, they didn't want any problems with pimps or law enforcement. She is a classy girl.

She has a 2 year sentence. I gift her money to her commissary account every month


Oh man, this story gets funnier and funnier. You originally said she was an "ex" but now refer to her as a "classy" prostitute? I'm afraid to ask for further clarification. So is she in jail from stealing from you, or for other charges?

Can you gift her money to the commissary in crypto? Now that would be impressive.
Gentlemen prefer Engelhard.


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