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Nov 27 2017 10:07pm
Quote (WeAwait @ Nov 27 2017 10:00pm)
You have to convert btc to dollars in order to pay income taxes. You also need dollars to pay state and local taxes.

The government is and always has been the biggest barrier between humankind and their destiny.


You're absolutely right, life would be very shitty without government.
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Nov 27 2017 10:08pm
Bitcoin prices in different exchanges. Looks like a strong and healthy cryptocurrency. Check the BTC/USD pair:




Wait until December 11th when the CME Group Inc, the world's biggest futures exchange enter the market. It will bump the price even higher. :D

Some people say BTC is a fraud, but what is fiat currency?, isnt fiat currency a fraud in itself?. It is created out of thin air. A system based totally in debt, take debts to pay more debts and continue the cycle forever. At least mining a BTC costs something (and its deflationary), creating fiat currency doesnt cost a thing (and its inflationary, everytime its worth less and less).

So, which one is the fraudulent one?.

This post was edited by Golden_Order on Nov 27 2017 10:16pm
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Nov 27 2017 10:25pm
Quote (WeAwait @ 28 Nov 2017 05:00)
You have to convert btc to dollars in order to pay income taxes. You also need dollars to pay state and local taxes.
The government is and always has been the biggest barrier between humankind and their destiny.


muh roads
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Nov 28 2017 10:35am
Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says

Link: https://www.cnbc.com/2017/11/27/bitcoin-could-easily-reach-40000-by-the-end-of-2018-novogratz.html

Former Fortress hedge fund manager Michael Novogratz said Monday that bitcoin can multiply more than four times in roughly the next 13 months.

"Bitcoin could be at $40,000 at the end of 2018. It easily could," Michael Novogratz said Monday on CNBC's "Fast Money." "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well."

Bitcoin was trading near $9,656 late Monday afternoon, after hitting a record high above $9,700 earlier in the day, according to CoinDesk. Ethereum hit a record high of $493.40 Monday, according to CoinMarketCap, and last traded near $482.

The total market capitalization of all digital coins on CoinMarketCap hit $304 billion Monday. Novogratz said he expects that could increase by about six times to $2 trillion at the end of next year.
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Nov 28 2017 06:33pm
Quote (Golden_Order @ Nov 27 2017 08:28pm)

I think John McAfee is right, Bitcoin is deflationary, there is a fixed amount of bitcoins that can be mined (21 million), there cant be any more bitcoins after that. According to the maths, the last bitcoin will be mined around the year 2138-2140, but 16 million bitcoins has already been mined, so the last 5 million will take a while, because the dificulty becomes harder to do. Its a way to emulate mining gold, it becomes harder and harder, but there is a finite amount (at least in this planet).


John McAfee is a clown. During the FBI vs Apple fiasco he said he had a trained group of hackers that would crack open the dead terrorist's phone using various techniques, mostly social engineering. He offered to socially engineer a dead guy and his dead wife into giving up the phone's pin.
Also, bitcoin supply slows down not because of difficulty but because the block reward has a half-life. Mining difficulty is irrelevant, because it adjusts to make sure transaction rate is constant. The reward for mining decreases at certain milestones, however.

Having said that, crypto currency is here to stay. People who dismiss it as unworthy of attention simply don't understand it.
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Nov 28 2017 06:37pm
Quote (russian @ Nov 28 2017 08:33pm)
Having said that, crypto currency is here to stay. People who dismiss it as unworthy of attention simply don't understand it.


+1. Regardless of your opinion about McAfee, I agree with you on this part. It's exactly as you say.

Bitcoin and the cryptocurrencies are the best thing that could happen in these days/years.
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Nov 28 2017 07:08pm
Currently, besides a few people who use bitcoins for shady anonymous purchases, aren’t bitcoins more like a commodity rather than a currency?
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Nov 28 2017 07:20pm
its prob a great thing for collapsing economies if they can bailout invest out of hyper inflation marginally.
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Nov 28 2017 07:51pm
Quote (remco6 @ 29 Nov 2017 01:08)
Currently, besides a few people who use bitcoins for shady anonymous purchases, aren’t bitcoins more like a commodity rather than a currency?


My point exactly. It's not really used for goods and services. Just bought and sold for real currency. As soon as people stop buying it it crashes in value.

This post was edited by Scaly on Nov 28 2017 07:52pm
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Nov 28 2017 07:54pm
Quote (remco6 @ Nov 28 2017 07:08pm)
Currently, besides a few people who use bitcoins for shady anonymous purchases, aren’t bitcoins more like a commodity rather than a currency?


https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
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