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it s not backed up... bitcoin could be wiped out in a second...
at least with cash, you have cash in hand... with bit coins it s just a part of the bitcoin system which is online and I don't know even who to contact if the bitcoin says there is no bitcoin for my Barcodes.
was on Bloomberg TV today.
Now at 1000$ instead of the 5 $, would you buy Bitcoins?
There is no taxing entity on Bitcoins, so it's tax free to buy and sell them.
While there maybe no explicit reference to Bitcoin, it is clear that any financial gain is taxable. I think the better question is if you can be caught not reporting bitcoin gains.
Quote:
Originally Posted by LordSquidworth
It's gambling, not investing.
If you don't understand it, it's better to not post.
Quote:
Originally Posted by AmFest
Question: is there any way to hedge a bitcoin investment?
I don't think so, but there might be something in the black market items that would work like that. Remember, much of what goes on now is purchasing drugs and weapons. But I have also seen some odd things like ricin, hard drives with 700 full movies, books on military training, offers to hack and crack, prograde fireworks and Cuban cigars.
If you don't understand it, it's better to not post.
I understand it better than most of those posting in this thread. It's really not a difficult concept. Confusing investing for gambling however, appears to be here.
There is zero rational reason to "invest" in bitcoin.
This is funny. I have heard about bitcoin for a while now. Our gold community talks about it sometimes. Bitcoin is like gold, its limited, so it is scarce. They "mine" coins from some mathematical model and I think they limit how much is mined.
Obviously there is no intrinsic value in bitcoins and confiscation is easy but the government is not going to try and manipulate the price to perserve their currency.
gold and silver on the other hand hold all the properties of bit coin and also have intrinsic value. You say, what is the intrinsic value? It is everything money is, and the free market chooses it every single time in history. The short term problem is I do think it is manipulated, I think all markets are, governments around the world cannot have free market money (gold and silver) rise substationally signalling problems. so they collude and knock the price down through paper markets which are 100X the size of the physical and offload physical into the market from vaults/GLD/SLV, etc. Read their prospectus. Look at how the markets trade, who they hell would hit the sell button in aftermarkets like whomever is doing? If you are a profit seeking seller, you sell into volume and strength and in smaller quantities not to signal a turn. Read the book jesse livermoore, he had it down. You look at the gold market and you see massive sell orders in aftermarket all at once????? hmmm ok.
when you control 50% of every trade, (the cost (interest rates) and quantity of money), you have a controlled market.
Bitcoin is a fad IMO. go buy some physical gold and silver and just sit on it. free markets have chosen this as money for 6,500 years. Real money has also created the wealthiest countries in the world every time they choose physical.
They, countries, go through the 7 stages of wealth. we, America are in the 7th stage the 1st stage is going back to real money. between stage 7 and 1, all the wealth is transferred to those who hold real money.
The best thing to do is to take all of your saved up money and invest it in a bitcoin exchange.
This is awful advice. Bitcoin is far too volatile at this point in time to put your entire savings account into it. You may as well spend it at the casino.
I won't put my own money.... If a nice guy here can send me even 0.00001 bitcoin donation, I would be happy to have my first money in bitcoin and to show to my relatives and friends . am just curious.... (I am not going to give my credit card just to see what is bitcoin)
pm me for my email address.
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the 1st stage is going back to real money. between stage 7 and 1, all the wealth is transferred to those who hold real money.
