Bitcoin currency of the future?

Der Eisbär said:
The noob exchange/wallet is coinbase. It's a US based exchange complying with regulators and backed by serious investors. The vast majority of crypto users are on coinbase. It's got a clean mobile app that is easy to use. The problem is that they rape you with fees. Start off with 5k or less on there, learn how it all works, learn how to use an offline/hardware wallets. After that you can go big by trading on Gdax (owned by coinbase, no mobile app, but negligble fees).

Honestly you should just go on a youtube binge watching videos learning as much as you can. But you can get started right off the bat by downloading the coinbase app, setting up an account, verifying your ID, and buying LTC/BTC/ETH. Just don't put a huge amount of money on there (5k+) until you have a solid grasp of the fundamentals. It's important once you starting dealing with larger sums of money, that you learn how to move your coins from the exchange to an offline-hardware wallet where you and only you have acccess to your coins.
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It should also be noted that the US just put the clamp on coinbase and they must now furnish records of all sales of coins over something like $10k from a specific but wide date range, so soon the IRS will be aware of large profits earned there by everyone.

Edit: 20k, not 10.

https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records
 
CerebralKnievel said:
It should also be noted that the US just put the clamp on coinbase and they must now furnish records of all sales of coins over something like $10k from a specific but wide date range, so soon the IRS will be aware of large profits earned there by everyone.

Edit: 20k, not 10.

https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records
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Yeah its 20k.

I'm no expert on this stuff but I've been learning like crazy over the last week. If you move all of your coins from coinbase to an offline wallet, and then sell your coins on another exchange that isn't complying with the IRS, would the IRS still know because they'd have your records from coinbase?
 
Who would have thought bitcoin would jump so much? For those that risked a lot into it back in 2015 or early 2016 congrats.
 
I was in a conference with a former CFO of Goldman-Sachs as the guest speaker. He said that he believes digital currency will be the future, but not necessarily Bitcoin, and to carefully invest your money there if you’re going that route. Basically, don’t put all of your eggs into one basket.
 
Der Eisbär said:
Yeah its 20k.

I'm no expert on this stuff but I've been learning like crazy over the last week. If you move all of your coins from coinbase to an offline wallet, and then sell your coins on another exchange that isn't complying with the IRS, would the IRS still know because they'd have your records from coinbase?
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Knowing what I do know about the speed with which the government keeps pace with new technologies, I'd wager no. ;D

But they'll get there eventually. As for me, I only had 800 in litecoin (bought at 52) and I sold it at 75. Bastards!
 
http://www.independent.co.uk/life-s...campbell-simpson-laszlo-hanyecz-a8091371.html
A British man says he accidentally threw away over $80 million worth of bitcoin.

James Howells, an IT worker from Newport, claims to have unintentionally dumped 7,500 bitcoin in mid-2013.

He is now planning to find them, but isn’t sure how, as he believes the hard drive he saved them to is currently buried in a landfill site.

The value of the cryptocurrency was around $130 at the time Howells claims to have thrown the hard drive away. It is currently worth $11,350 (£8,435).

That means the bitcoin stored on the hard drive would have been worth around $975,000 at the time the device is said to have been ditched. Today, they would be worth $85,125,000 (£63,284,463).

“After I had stopped mining, the laptop I had used was broken into parts and sold on eBay. However, I kept the hard drive in a drawer at home knowing it contained my Bitcoin private keys, so that if Bitcoin did become valuable one day I would still have the coins I had mined,” he told the Telegraph.

“In mid-2013 during a clear-out, the hard drive – then worth a few hundred thousand pounds – was mistakenly thrown out and put into a general waste bin at my local landfill site, after which it was buried on site.”

He has previously said that he forgot about the hard drive because he had been “distracted by family life and moving house”.

Howells said he started “mining” bitcoin in 2009, using his computer to solve complex mathematical problems to earn rewards.

He says he’s now considering digging up the landfill in order to find the lost hard drive.

“A modern landfill is a complex engineering project and digging one up brings up all sorts of environmental issues such as dangerous gasses and potential landfill fires,” he said. “It’s a big, expensive and risky project.”
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Some stuff to make you feel better about your day
 
Stop ushering in the Antichrist! :eek:
 
mushishi said:
Stop ushering in the Antichrist! :eek:
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haha. It's funny when I see CT types saying "this is it! this is what they wanted, a cashless society!", when currency like BTC is the opposite of what they want. It's a currency outside the control of banks and government. It is the antidote to the toxic banking elite that dominate government and finance.
 
Der Eisbär said:
haha. It's funny when I see CT types saying "this is it! this is what they wanted, a cashless society!", when currency like BTC is the opposite of what they want. It's a currency outside the control of banks and government. It is the antidote to the toxic banking elite that dominate government and finance.
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Coo.
 
CerebralKnievel said:
Knowing what I do know about the speed with which the government keeps pace with new technologies, I'd wager no. ;D

But they'll get there eventually. As for me, I only had 800 in litecoin (bought at 52) and I sold it at 75. Bastards!
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Why didnt you buy back once you saw ltc climbing past 75? As for me, I first heard about btc in 2012 and they were 52$ when I was looking at buying some for the silk road. I didn't know anything about block chain and really didnt recognize how world changing this tech was. I'm poor so I have very little in cryptos but I only started putting money in last week with the tiny scrap of a tiny paycheck. I'm going to get heavy into LTC though while they're still around 100$, wait and see what happens with btc, and put a little into ether.
 
Der Eisbär said:
Why didnt you buy back once you saw ltc climbing past 75? As for me, I first heard about btc in 2012 and they were 52$ when I was looking at buying some for the silk road. I didn't know anything about block chain and really didnt recognize how world changing this tech was. I'm poor so I have very little in cryptos but I only started putting money in last week with the tiny scrap of a tiny paycheck. I'm going to get heavy into LTC though while they're still around 100$, wait and see what happens with btc, and put a little into ether.
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Buying at all time highs never strikes me as the best move.
 
I am the Bitcoin King.

You guys are complaining that Bitcoin is too expensive to get into now.

That's what people said when Bitcoin was going for $100 a pop.

That's what people will say when Bitcoin will go for $100,000 each.

That's what people will say when Bitcoin will go for $1,000,000 each.

You will be kicking your own fucking asses when this time comes for not investing right NOW. December 6th, 2017. You'd wish you had a time machine to go back to NOW.

This is exactly why I have a large investment in Bitcoin. Not necessarily to make more money. I've already made my money 4 years ago.

I just don't want to regret it later on in the future of not having bitcoin stashed.
 
WorldofWarcraft said:
I am the Bitcoin King.

You guys are complaining that Bitcoin is too expensive to get into now.

That's what people said when Bitcoin was going for $100 a pop.

That's what people will say when Bitcoin will go for $100,000 each.

That's what people will say when Bitcoin will go for $1,000,000 each.

You will be kicking your own fucking asses when this time comes for not investing right NOW. December 6th, 2017. You'd wish you had a time machine to go back to NOW.

This is exactly why I have a large investment in Bitcoin. Not necessarily to make more money. I've already made my money 4 years ago.

I just don't want to regret it later on in the future of not having bitcoin stashed.
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The bitcoin king...?
 
Damn bitcoin hovering just under 13K all morning. I have a feeling this will seem low by this time next year.
 
WorldofWarcraft said:
I am the Bitcoin King.

You guys are complaining that Bitcoin is too expensive to get into now.

That's what people said when Bitcoin was going for $100 a pop.

That's what people will say when Bitcoin will go for $100,000 each.

That's what people will say when Bitcoin will go for $1,000,000 each.

You will be kicking your own fucking asses when this time comes for not investing right NOW. December 6th, 2017. You'd wish you had a time machine to go back to NOW.

This is exactly why I have a large investment in Bitcoin. Not necessarily to make more money. I've already made my money 4 years ago.

I just don't want to regret it later on in the future of not having bitcoin stashed.
Click to expand...

Why exactly is it a good time to invest now?
 
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