Bitcoins - about to hit $5,000 per coin today!

[SF1900]

$16260.00 US Dollar!!

Sell, GIB, SELL!

[robcguns]

But, if this can be converted to cash, people can make huge "real $" right?

Or is cash conversion not something that' easily doable?   I saw the bitcoin ATM machine pic, but didn't pay attention after.

If it can be converted, is it any different than buy a shell corp type stock that went up in price for no reason during the tech boom?

Very easy to convert to cash.

[Grape Ape]

Very easy to convert to cash.

How is it done?

[SF1900]

As it goes higher and higher into parabola, $1000 moves will take only seconds.   This will end very badly... it will be like yelling 'fire' in a packed movie theater.

You seem overly invested in trying to prove GIB wrong. Who cares. It's his money. Not yours. If he loses it all, it has zero impact on your life.

Why is it so important for you to try and prove him wrong or see him fail? 

[denarii]

down 5500 from todays peak

[Mr Anabolic]

$16260.00 US Dollar!!

Sell, GIB, SELL!

But he won't.  He'll ride it up then all the way back down. 

[Zillotch]

I still say, tho... bitcoin is not the complete picture... depends on who is really behind the math... that said, there r obviously stupid amounts of money to be made. everyone should become an expert on this topic.

[SF1900]

I still say, tho... bitcoin is not the complete picture... depends on who is really behind the math... that said, there r obviously stupid amounts of money to be made. everyone should become an expert on this topic.

I've already consulted with Vince Goodrum, CSN, MFT, HPP, CEO, about Bitcoin.

[el numero uno]

$16260.00 US Dollar!!

Sell, GIB, SELL!

Not at all.

He's always very objective with his investment decisions. Its been a key to his success.

He is a very conservative investor. He always build in safety margins when valuing assets.

He does function at a very high level financially.

[el numero uno]

As bitcoin grows into a global currency of course it will be volatile (mainly upwards!). There is no perfect way to smoothly transition billions of dollars in cash globally into a new digital currency. If we decided to suddenly pick a new metal as a store of value the same phenomenon would occur. Long term the value of bitcoin may stabilise but I suspect we are a long way off that yet. So for now buckle up and enjoy what may become the fastest and most rapid creation of a new universal store of wealth in history.

 

[Zillotch]

I've already consulted with Vince Goodrum, CSN, MFT, HPP, CEO, about Bitcoin.

not a better move to be made. as I've said – u r smart.

[robcguns]

How is it done?

Just send you bitcoin from your wallet to coinbase or whichever place you use then hit the sell button and you have whatever currency you use then they just deposit into bank account.I did a trial when I first bought in to see how quick it was.all in all took about 20 min.

[Grape Ape]

Just send you bitcoin from your wallet to coinbase or whichever place you use then hit the sell button and you have whatever currency you use then they just deposit into bank account.I did a trial when I first bought in to see how quick it was.all in all took about 20 min.

Thanks.

So anything over 10k would be tracked and taxed accordingly?

[SF1900]

not a better move to be made. as I've said – u r smart.

If I was a true genius, I would have been able to figure out the bitcoin market myself.

However, there are many more getbiggers who are 100x smarter than I am. Thus, I seek their consultation.

Also, I don't know what it means to be "smart."

[robcguns]

Thanks.

So anything over 10k would be tracked and taxed accordingly?

If using coinbase but there are other ways to do it without trace,I’m just not that clear on how to do it.Also you can buy things and cash out that way as there is an online gift card place and they take bitcoin.I know some Rolex dealers that take bitcoin so you can cash out that way with no trace.

[Zillotch]

If I was a true genius, I would have been able to figure out the bitcoin market myself.

Also, I don't know what it means to be "smart."

u r on fire today... uniquely connected to reality, for a change.

[SF1900]

u r on fire today... uniquely connected to reality, for a change.

We are all smart in our way.

Look at Vince Goodrum, CSN, MFT, HPP, CEO. Ordinary man turned himself into a business mogul.

[Grape Ape]

If using coinbase but there are other ways to do it without trace,I’m just not that clear on how to do it.Also you can buy things and cash out that way as there is an online gift card place and they take bitcoin.I know some Rolex dealers that take bitcoin so you can cash out that way with no trace.

Ok, that would be a way for fort of larger transactions.

I was thinking in amount in the millions - like what the Winklevoss twins are sitting on.

[robcguns]

Ok, that would be a way for fort of larger transactions.

I was thinking in amount in the millions - like what the Winklevoss twins are sitting on.

Way out of my league.A few hundred grand I could get in rolex watches and move them quickly but millions would take a while hahaha.

[Grape Ape]

Way out of my league.A few hundred grand I could get in rolex watches and move them quickly but millions would take a while hahaha.

Based on what you guys are saying, I'm looking at this in the context of this being a pump and dump stock right now, with a bit of nuance around turning profits into real dollars.  I could be way off though - i'm only skimming the thread, but find the back and forth pretty interesting.

FWIW, Mark Cuban said it's worth taking a flyer on this, but with the idea that you assume all your money is lost once you invest.

[robcguns]

Based on what you guys are saying, I'm looking at this in the context of this being a pump and dump stock right now, with a bit of nuance around turning profits into real dollars.  I could be way off though - i'm only skimming the thread, but find the back and forth pretty interesting.

FWIW, Mark Cuban said it's worth taking a flyer on this, but with the idea that you assume all your money is lost once you invest.

Exactly,I gamble quite a bit so I figured why not. Have won big and lost big so whatever happens happens.I put 6000 into bitcoin when it was 7800 so I have 3/4 of one.If it goes thru the roof great if it pops oh well.i love the ride whether yo or down.

[El Diablo Blanco]

Ok, that would be a way for fort of larger transactions.

I was thinking in amount in the millions - like what the Winklevoss twins are sitting on.

Those twins got in real early. When bitcoin was in the dolLar range. Those fucks are probably holding billions of dollars now.  Think about the group that robbed mtgox. That’s 10’s of billions.

[Mr Anabolic]

If using coinbase but there are other ways to do it without trace,I’m just not that clear on how to do it.Also you can buy things and cash out that way as there is an online gift card place and they take bitcoin.I know some Rolex dealers that take bitcoin so you can cash out that way with no trace.

The cash profits have to go into a bank account of some sort in order to withdraw the cash.  I cannot believe the Rolex dealer (or any other) transaction would be untraceable either.  If the IRS has you in their sights, they will get you.  Their are unscrupulous and are licking their chops over all the potential tax income from all this.  It's much easier to pay the taxes and have done with it, that way there will never be penalties or interest due.

Nothing digital or electronic is anonymous.  People who believe they are anonymous are simply deluding themselves.    

[robcguns]

The cash profits have to go into a bank account of some sort in order to withdraw the cash.  I cannot believe the Rolex dealer (or any other) transaction would be untraceable either.  If the IRS has you in their sights, they will get you.  Their are unscrupulous and are licking their chops over all the potential tax income from all this.  It's much easier to pay the taxes and have done with it, that way there will never be penalties or interest due.

Nothing digital or electronic is anonymous.  People who believe they are anonymous are simply deluding themselves.    

I hear ya,the IRS has messed with me twice already and it sucks.

[SOMEPARTS]

Looks like a number of people decided 15k was a good time to take profits. The saying is "nobody ever went broke taking profits".

I know a few people in Bitcoin just having a gambler's rush this week. They almost can't function and are talking about quitting their jobs and day-trading crypto.