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

[denarii]

still hodling, praying for a corona surge 

can you pay taxes on shitcoin?

[robcguns]

can you pay taxes on shitcoin?

Yes you have to pay taxes when you sell them or trade for different crypto’s.im hoping for a drop on bitcoin to buy a couple more.The havening is coming May 20th I believe, should be a price surge

[FitnessFrenzy]

still hodling, praying for a corona surge 

let us hope it will act more or less like gold in that regard

[gib]

Naive question or two:

- Who own bitcoin International TM

- Who own bitcoin mold & stamp those golden coins

- Who buys gold for making those coins

- Who would pay $ 5000 for 1 of those (very small) golden coins

- Name National bank with gold reserve for bitcoins

- Etc,. 


Where is 'giby' when you need him 

Some good questions (for a change).

- Who own bitcoin International TM? No-one. Bitcoin is considered a generic term and so attempts to trademark it have failed. (Just like you can't trademark the word "CAR" for a car.)

- Who own bitcoin mold & stamp those golden coins - LOL

- Who buys gold for making those coins - LOL

- Who would pay $ 5000 for 1 of those (very small) golden coins  - Millions of people pay for BTC (or portions thereof). These are people who either wish to use the currency for a transaction, speculators who believe the value will increase in the short term, or those who wish to hold as a defense against fiat currency depreciation (or unavailability in the event of a banking collapse).

- Name National bank with gold reserve for bitcoins - we know for sure some central banks hold gold. So there is a logical step for some of these banks to also move into BTC. What we know for sure is that some very powerful people, world leaders, dictators, etc are holding BTC. Many Governments also have secret projects that will over time require and purchase Bitcoin (for various reasons).

[Mayday]

let us hope it will act more or less like gold in that regard

I'm in it for the long play as a hedge.

If there is any legitimacy for it to work and establish ground roots, it'll be during an inflationary period.

5yr-10yr timeline to go somewhere.

[Teutonic Knight 1]

Some good questions (for a change).

- Who own bitcoin International TM? No-one. Bitcoin is considered a generic term and so attempts to trademark it have failed. (Just like you can't trademark the word "CAR" for a car.)

- Who own bitcoin mold & stamp those golden coins - LOL

- Who buys gold for making those coins - LOL

- Who would pay $ 5000 for 1 of those (very small) golden coins  - Millions of people pay for BTC (or portions thereof). These are people who either wish to use the currency for a transaction, speculators who believe the value will increase in the short term, or those who wish to hold as a defense against fiat currency depreciation (or unavailability in the event of a banking collapse).

- Name National bank with gold reserve for bitcoins - we know for sure some central banks hold gold. So there is a logical step for some of these banks to also move into BTC. What we know for sure is that some very powerful people, world leaders, dictators, etc are holding BTC. Many Governments also have secret projects that will over time require and purchase Bitcoin (for various reasons).

Wiggzy U know nothing about gold & golden coins , childish talk !.

[gib]

10,000 seems back in range. Next 14 days we could see some phenomenal action on BTC.

[pellius]

10,000 seems back in range. Next 14 days we could see some phenomenal action on BTC.

What do you think is driving the prices up?

[Theoak*]

What do you think is driving the prices up?

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

[gib]

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

Hard to know if halving is priced in. Obviously market knows about this. Yet we have a dynamic leading up to that where no one wants to sell yet huge amount want to buy in. Short sellers getting brutally raped. We have a general risk on environment as the world recovers from covid. Yet massive global stimulus that will devalue all currencies. We have governments globally that will look to tax (aka steal) more money from people. And a growing realisation that the next big crisis really could affect the banks and possibly massively impact civil liberties. We have a possible war with China next few years (unless China totally changes their global aggression). We have a whole emerging generation who are entirety comfortable transacting digitally and yet who distrust the state. We have many who see the logic in gold but yet see the even greater advantages of digital gold. So many many drivers at play.

[gib]

Teutonic Knight I hope you have now learned your lesson. Whiggs was a Bitcoin visionary. He tried to tell us,. Only very few listened...

[pellius]

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

I'm not a personal investor. Just my 401k which I leave alone. I've been monitoring bitcoin for a couple of days and noticed it was on a steady upward climb. I put $650 into the account to see what happens. By the next day it was at $740. $90 in a day for doing nothing is a good deal. I just checked again and I'm back down to $689. I found it kind of interesting how the value changes every second. I thought about what is going on all over the world with people involved in this causing second to second changes.

Though it dropped a lot of from this morning there definitely seems to be an upward trend.

[FitnessFrenzy]

can someone explain the halvening?

[robcguns]

can someone explain the halvening?

Half the amount of bitcoins will be mined every halvening so the supply that miners get rewarded are cut in half.

[gib]

At current rate halvening will occur in just over 11 days. Exact time is determined by mining output.

[gib]

So essentially under the algorithm it will the take twice as much effort / cost / energy to mine a coin. Which should price up the value of a coin. Over time as we hit the total limit total coins that can ever be created we will then have a totally finite supply. And of course only a very few privileged and wealthy will have entire coins. Most of us will see simply have some amount of santoshies.

[Teutonic Knight 1]

Teutonic Knight I hope you have now learned your lesson. Whiggs was a Bitcoin visionary. He tried to tell us,. Only very few listened...

Wiggzly, tell me on what date I ask for yours "financial advice" 

Visionary Wiggzly  , looks like 'his' Jesus is still stuck on Nabiru ..........

Wiggzly, greed is 1 of 7 deadly sins 

[pellius]

In one day buying $650 in Bitcoins the value went up almost a hundred dollars. The next day, today, all gone. All gone just like that.

[pellius]

BTW, what is the difference between withdrawing, selling, and cashing out Bitcoins?

Say I want to get $100 back in cash, what is the difference between those three options?

[gib]

If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

[pellius]

If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

I tried to open an account on coinbase or one of those services. Too much humbug. Bitcoin would be so much more popular if it was just easier and more straight forward.

I'm using cashapp. It's tied to your bank account and deposit funds directly into your cashapp account and send it to others also with a cashapp account like Paypal. You can also buy stocks with the funds you have in your cashapp account. There's two separate pages where one says: Deposit Bitcoin   Withdraw Bitcoin. And there's another one on the stock page that looks like this attachment where you: Buy Sell Send (to another BTC holder)

[pellius]

If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

Also, what is "Cold Storage"? Where do the funds go when I withdraw them? What I can tell now is that I have funds sitting in my BTC account. I see the value increase or decrease every second. It took a big jump a couple of days ago and all gone the next day. The only other place I can move my funds is back into my cash app account. Exactly like a Paypal account where you can keep a balance on it, transfer to your bank or another Paypal user, or use it make purchases online.

[SOMEPARTS]

John McAfee sticks a dagger in the hearts of crypto lovers:

https://decrypt.co/27447/john-mcafee-virtual-blockchain-talk


"Bitcoin and blockchain were meant to “save us from financial slavery, and from the overburdened government that creates the fiat currency that we are forced to use,” McAfee said. But he doesn’t think crypto will save us this time.

“We are not going to jump into crypto,” he said, because it’s not easy enough to use. “It is not like opening a bank account. You have to spend days understanding what it is and how it works.”

But as far as the markets go, he predicts that the price of Bitcoin will spike ahead of the halving event on May 12. He recalled that in 2016, the last halving event, there was a huge rise in the price of Bitcoin, and then a huge drop. And he believes history will repeat because the same people populate the cryptosphere, and they’re just as greedy as they were four years ago. "



Remember this is the guy that said he's eat his dick if it didn't go to 1 million per BTC. Even he sees the greed ruined any chance of adoption. Same greed the banks operate on, as I've always maintained.

[pellius]

John McAfee sticks a dagger in the hearts of crypto lovers:

https://decrypt.co/27447/john-mcafee-virtual-blockchain-talk


"Bitcoin and blockchain were meant to “save us from financial slavery, and from the overburdened government that creates the fiat currency that we are forced to use,” McAfee said. But he doesn’t think crypto will save us this time.

“We are not going to jump into crypto,” he said, because it’s not easy enough to use. “It is not like opening a bank account. You have to spend days understanding what it is and how it works.”

But as far as the markets go, he predicts that the price of Bitcoin will spike ahead of the halving event on May 12. He recalled that in 2016, the last halving event, there was a huge rise in the price of Bitcoin, and then a huge drop. And he believes history will repeat because the same people populate the cryptosphere, and they’re just as greedy as they were four years ago. "



Remember this is the guy that said he's eat his dick if it didn't go to 1 million per BTC. Even he sees the greed ruined any chance of adoption. Same greed the banks operate on, as I've always maintained.

I'm no expert by I am absolutely convinced that the only reason BTC isn't more popular is that it is not easy to use. No matter how many people that use it claim it's easy once you get the hand of it and that the rest of us is just dummies isn't going to help BTC. It's not for the consumer to have to adapt to a system that is not intuitive to them unless the return it huge. People are more use to systems like Paypal. Send, receive, deposit withdraw, all easy as pie and no obscure passwords or id codes that you can't choose yourself and be given one that you can never remember, and if you lose you're screwed and lose everything.

[gib]

Pellious - its good you are taking an interest. If you have the time, i urge you to read this entire thread. I have made the comments here for a deliberate reason. You will understand and appreciate once you have read.

You are fully correct that for many, BTC is not yet "easy to use". That will slowly change. We will see a "lightening network" that overlays BTC for daily transactions. We will see more regulated and easy to use exchanges. We are starting to see banks offer BTC. And we will see BTC ETFs enabling "Mom & Pop" investors to buy in. And at certain points we will see frenzies to purchase emerge. My suggestion, and I have made it many times, is that everyone should, if they are able, buy and hold for ever, 1 coin (or a part thereof). Its a hedge for the future which may provide you unforeseen safety, flexibly, and life options, not to mention the possible of extreme wealth.