Was anyone else long on Bitcoin Cash before today?

Discussion in 'General' started by Knotcher, Nov 12, 2017.

  1. Dave K

    Dave K DaveK über alles!

    Cool. I was wondering how the IRS and local tax boards treat it. Investments or gains from gambling.

    Other than supposed total anonymity with transactions when you want it, what really is the benefit with bitcoins? Bunch of gobbity gook to me but then again, I'm not their target market.
     
    rcarson15 likes this.
  2. speedluvn

    speedluvn On a Quest For Speed

    Who is “their” target market?

    Who/ what vendors accept bitcoins/nit cash??

    From the title of this thread was there a major gain that happened overnight or something?

    What is the value based on?

    Confused as hell :confused: but when researching this I’m still kinda lost.

    What the advantages? I think I understand that they can be easily stolen lost if not securely contained?
     
  3. Dave K

    Dave K DaveK über alles!

    F@ck if I know. :D IT Melvins, drug dealers, weirdo failed day traders, chronic gamblers, BBSers. You know, freaks and geeks. :D
     
  4. speedluvn

    speedluvn On a Quest For Speed

    It’s a start.
     
  5. Yes IRS stuff can suck but like anything Only if you take the money out.
     
  6. Dave K

    Dave K DaveK über alles!

    Dude, I'd be cashing the heck out and running for the hills right now. :D
     
  7. Sweatypants

    Sweatypants I am so smart! S-M-R-T... I mean S-M-A-R-T!

    Lol ohhh god. Tries to half describe a fiat current... uses his explanation to dismiss another fiat currency. THE fiat currency.

    Good luck with that... you know what else the USD is backed by that crypto never will be? Guns and missiles. Without that, you can always be trumped one way or another.

    The USD is worth what it is because it has buying power, its power is relatively stable and certain, and is backed by one of the biggest economies of the world coupled with the biggest military in the world.

    Right now, bitcoins real world purchasing use is limited, it fluctuates like crazy creating a speculators hoarding market and defeating the core foundation for it even existing (its an investment at this point not a currency), and its backed by nobody with actual power. Im sure kinks will get worked out, secondary markets with create more liquidity/stability, it'll get accepted more places... if not bitcoin, one of the 1500 coins will win out...

    You're getting ahead of yourself a little there. Plus, Treasury is already hiring 3rd party digital snitches to be able to trace ownership. So much for anonymity. Do your cash grab now or in the next year or 2... crackdown is coming.

    Also think... are you buying the myspace? Or the facebook? Early frontrunners dont always make it to the finishline.
     
  8. Dave K

    Dave K DaveK über alles!

    'merica, F@ck yeah! :D
     
  9. GRH

    GRH Well-Known Member

    This is debatable but I agree with the rest, if you're comparing against the Yen that's a different story
     
  10. SPL170db

    SPL170db Trackday winner

    Still makes no sense to me. I just hope that my buddy who jerks off to every bit of Bitcoin news is going to make some good money from it before it (I'm assuming) implodes on itself?

    I'm gonna go read the wikipedia entry on it a couple times and hopefully it'll make some more sense to me than it does now.
     
  11. dtalbott

    dtalbott Driving somewhere, hauling something.

    The dollar is backed by the fact that more people want it than the number of people who want bitcoins.

    Question: if a Bitcoin is worth $1500, and I'm buying something that cost $1000, what is my third of a Bitcoin called? Y'all got official names for the change?
     
    turtlecreek likes this.
  12. SPL170db

    SPL170db Trackday winner

    Bitchange?
     
    rcarson15 likes this.
  13. CRA_Fizzer

    CRA_Fizzer Honking at putter!

    I know where their servers are in Bonner MT. EMP that bad boy. :)

    Then grab a cold beer at Kettlehouse Brewery next door...:beer:
     
    rcarson15 likes this.
  14. dtalbott

    dtalbott Driving somewhere, hauling something.

    Little bits?
     
  15. TurboBlew

    TurboBlew Registers Abusers

    Isnt the old saying... Govt HATES competition? :D A couple months ago a new roof would have cost me 4 bitcoins... today I would be getting my roof done for fractional bitcoins...lol. There was a local guy that once gave 20 bitcoins for a couple of pizzas! :D

    Limited time offer!!! :D

    People laughed at paypal... now they are a sizable company.
     
  16. Mongo

    Mongo Administrator

    Not sure why anyone would have laughed at paypal, they are doing what banks do, just online and easier access. Paypal transfer real money from either an account or credit card from one place to another and just like a bank can hold that money for you if you choose. Fancy version of what Western Union has done fore a long time. Bitcoin is a virtual currency, nothing about it exists or is backed by anyone. The currency paypal uses is still USD....
     
  17. SPL170db

    SPL170db Trackday winner

    Shave and a hair cut.....
     
  18. dtalbott

    dtalbott Driving somewhere, hauling something.

    Bitcoins seems like special items in an online computer fantasy game. The items don't exist, but they have value to the people playing that game. The rarer the item, the more value it has.
     
    Sweatypants likes this.
  19. Dave K

    Dave K DaveK über alles!

    like $160 bottles of Rye? :D
     
    Sabre699 likes this.
  20. NemesisR6

    NemesisR6 Gristle McThornbody

    *whispers*

    Lil' Bits

    [​IMG]
     

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