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Thread: Bitcoin

  1. #121

    Join Date
    Dec 2009
    Location
    On a Florida beach
    Posts
    1,454

    Default Re: Bitcoin

    Just like that I'm taking a time-out from bitcoin...

    I listened to the June 13th interview of Trace Mayer about the August 1st "BIP 148 fork" of bitcoin chains...
    Bitcoin Knowledge Podcast – Learn about blockchain and fintech | Interviews with top people in Bitcoin, blockchain and fintech

    ...and then read this reply from coinbase regarding their plans for this event on August 1st (where I owned bitcoin until moments ago) which basically says, "sorry, but you are going to lose your bitcoin if you're still holding it on August 1st"...
    https://community.coinbase.com/t/wha...g-bip148/15391

    ...then I sold my 1.0000 bitcoins back into my bank account...over a 20% profit in four weeks so can't be too upset, but until the dust settles on this confusing BIP 148 thing, I'm worried there will be more and more sellers, so I'm out until that's resolved.

    Still holding the ethereum though since that's immune to this issue and could even benefit from it if people flip from bitcoin to ethereum.

    I may exit GBTC on Monday as well, for a small gain currently.

  2.  
  3. #122

    Default Re: Bitcoin

    Quote Originally Posted by pmaloney View Post
    Any problems doing taxes? Especially with TurboTax?
    Thanks!
    Tax Tips for Bitcoin and Virtual Currency

    https://turbotax.intuit.com/tax-tool.../INF29402.html
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  4.  
  5. #123

    Default Re: Bitcoin

    Thanks and and good luck with your investment.

    Quote Originally Posted by tsptalk View Post
    I was first introduced to it several years ago (maybe 2011?) while in a poker tournament, of all things, where the guy next to me was telling me about it. I thought it was interesting but shrugged it off not knowing much about how to get involved.

    Then late last year I started to hear more about it and so I did some research and with many videos posted on youtube about how to get started, I bought my first bitcoin in December of last year, and then added another in January. Now I buy a small amount with an automatic buy program every other week.

    My thought is, I can invest a couple thousand (at the time I started they were under $1000) and if the lofty predictions were anywhere close to expectations, I could potentially make enough to perhaps double my retirement account if the higher ends are reached in say 10 years. I thought it was worth the big risk that comes with it.

  6.  
  7. #124

    Join Date
    Dec 2007
    Location
    inland Northwest
    Posts
    4,124

    Default Re: Bitcoin

    for all those engaged in digital currency activities, there are many danger points well worth taking under advisement. do ignore the article headline, pay attention to the logic detailed in the article itself. written by a lifelong highly successful tech guy.

    https://market-ticker.org/akcs-www?post=232141
    "life can only be understood backwards, but it must be lived forwards" - soren kierkegaard

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  9. #125

    Default Re: Bitcoin

    Sobering, and good to know and consider.

    I bet that guy is a blast at parties.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  10.  
  11. #126

    Join Date
    Jul 2016
    Location
    Texas
    Posts
    2,274

    Default Re: Bitcoin

    I still don't get it be this was interesting http://www.cnbc.com/2017/06/07/crame...n-one-day.html
    What's this world coming to?


  12.  
  13. #127

    Default Re: Bitcoin

    Quote Originally Posted by evilanne View Post
    I still don't get it be this was interesting http://www.cnbc.com/2017/06/07/crame...n-one-day.html
    What's this world coming to?
    i don't get it either. who cares if they stole your topless selfies? i took the pic for free so why would i pay to get it back? it makes no sense. besides, hairy armpits look good on a french gal. the nsa has them too and they don't ever delete.
    100g

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  15. #128

    Default Re: Bitcoin

    Quote Originally Posted by evilanne View Post
    I still don't get it be this was interesting http://www.cnbc.com/2017/06/07/crame...n-one-day.html
    What's this world coming to?
    There's an appeal to bitcoin / crypto-currencies from many angles but yeah, some are nefarious. It was actually this side that first took advantage of bitcoin. The crooks seem to be smarter than the good guys, unfortunately. But it also makes an easy way to move money across borders, in particular developing countries, avoiding the large fees of a Western Union, so that's also one of the drivers of the cryptos.

    The South Koreans, Japan, and China have been all over this and that has been a big part of driving the price up lately.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  16.  
  17. #129

    Default Re: Bitcoin

    Quote Originally Posted by Tsunami View Post
    Just like that I'm taking a time-out from bitcoin...

    I listened to the June 13th interview of Trace Mayer about the August 1st "BIP 148 fork" of bitcoin chains...
    Bitcoin Knowledge Podcast – Learn about blockchain and fintech | Interviews with top people in Bitcoin, blockchain and fintech

    ...and then read this reply from coinbase regarding their plans for this event on August 1st (where I owned bitcoin until moments ago) which basically says, "sorry, but you are going to lose your bitcoin if you're still holding it on August 1st"...
    https://community.coinbase.com/t/wha...g-bip148/15391
    A site he recommended for BIP 148 info...

    https://www.weusecoins.com/uasf-guide/
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  18.  
  19. #130

    Default Re: Bitcoin

    i read the whole article, but do not feel like i know much more about how the magic works. this part at the end caught my eye though:

    Another reason why there don't immediately have to be two parallel chains is that the "Old-chain" will accept BIP148-blocks (because of the SOFT fork characteristics) such that there is no reason to immediately fork-off.
    100g

  20.  
  21. #131

    Default Re: Bitcoin

    Ah! Now I get it.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  22.  
  23. #132

    Default Re: Bitcoin

    By the way, get yourself a hard wallet or at least one on your PC. That's what I have learned from my research. If you have your bitcoin stored (the addresses) it is more safe than storing it on a 3rd party service like coinbase. I use jaxx.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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