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Dumped bitcoin

Discussion in 'Digital Currencies' started by gringott, Nov 21, 2016.



  1. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    I picked up a token amount of bitcoin in the spring of 2014, just dumped it all.
    Cleared a 55% increase, so not too shabby.

    Don't think I'll do it again however.
     
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  2. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    You dump it by buying PM's? I tried to find away to get cash, but too much hassle. Just bought gold Eagles with it.
     
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  3. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Took cash. Could have bought PMs but decided to just cash out. Will buy PMs later. Plan on dumping some other stuff too. Same reason, PM time coming.
     
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  4. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    Make sure you report your gains to the collection mastiffs over at the IRS. Sounds like they have their nose to the trail. http://www.forbes.com/sites#/sites/...-users-transactions-at-coinbase/#8d93eb740d11

    Still pretty hard to beat PMs for a discrete, anonymous store of wealth- assuming that you weren't chasing it when you bought it.
     
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  5. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    I was on the fence about dumping it for a couple of weeks or more, then I read the article you posted above, 30 minutes later I didn't have any bitcoins.
    The only redeeming "feature" of bitcon seems to be going away.
     
  6. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    Next on the chopping block; Roth IRA.

    Got to get that out before they decide to level retirement savings across the population.
     
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  7. madhu

    madhu Silver Member Silver Miner

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    India recently banned old 500 and 1000 rupee and introduced new currency. There is a 45% hair cut when u want to exchange unaccounted money. This is deflationary. Indias demand of gold will be curbed with this move. That may not help gold prices in international market.

    I am thinking that the price range would be between 800-1200$. Just my 2 cents
     
  8. solarion

    solarion Gold Member Gold Chaser

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    I can tell you from first hand experience...people who are into cryptos gave up on coinbase a long long time ago. They flipped the switch on the kyc tyranny quite some while back. Sorry DC terrists...fundamental to the right to live and breathe is the right to transact without a third party interceding by force.

    Goobermint has been pretending they have no official position on bitcoin for years...while covertly attacking it at every turn. It has failed utterly and will always fail. For every site they've managed to stomp under their jackboots...two more spring up.

    Glad you made a healthy profit.
     
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  9. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    Not saying I might not pick up some in the future, I personally think it won't be doing much more for a while, and might even go down a couple of hundred.
    Just my opinion after watching it for a couple of years.

    Buy low, sell high.
     
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  10. solarion

    solarion Gold Member Gold Chaser

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    I stack it pretty much like I do PMs and try not to pay too much attention to exchange rates. That said, its been running pretty strong vs currency for awhile. I sold off about half my position(for mostly silver) awhile back. BTC seems to behave much better than PMs when faced with the obvious counterfeiting coming out of the fed. The fundamentals for both cryptos and PMs are still very strong imo. When you have the fed's own website to help illustrate the point...hey what's to argue? What's the expression? ...don't fight the fed? ...okay, they're counterfeiters and I don't want their garbage thanks.

    Yes I understand that there's a liquidity crunch underway.

    [​IMG]
     
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  11. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Got this in an email from Coinbase.
    18 Nov 2016
    Protecting Customer Privacy

    Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers' records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes.

    Although Coinbase's general practice is to cooperate with properly targeted law enforcement inquiries, we are extremely concerned with the indiscriminate breadth of the government's request. Our customers’ privacy rights are important to us and our legal team is in the process of examining the government's petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.

     
  12. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Just my observation, but every time capital controls come up in China bitcoin takes a jump.
     
  13. solarion

    solarion Gold Member Gold Chaser

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    I used coinbase a long time ago. Took a long layoff...then eventually got the itch again. I went back to buy some btc with a linked bank balance and they asked me to verify my ID by confirming the color of my motorcycle. I bailed that day and never looked back.

    Sick to freaking death of the endless prying by the .gov tyrants.
     
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  14. Alton

    Alton Gold Member Gold Chaser

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    My concern with cryptos has ALWAYS been what happens when the power grid goes down? If the markets and the dollar goes to the floor you can rest assured the power will ultimately get shut down...it runs on dollars. No power = no crypto access. No crypto access = non-starter for me. Keep some cash handy and some PMs and the gov knows nothing, has no records and I can acquire whatever I might need despite a "reichsdollar event".
     
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  15. solarion

    solarion Gold Member Gold Chaser

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    Almost nobody uses cash anymore. The USD is almost as much an electronic currency as is bitcoin.

    Really think the issue is blown completely out of proportion.
     
  16. andial

    andial Sir Midas Member Site Supporter ++

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    You should sink all those gains into silver, JMHO
     
  17. Buck

    Buck Fabian Society Gold Chaser

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    And the Homeless wish to Thank You:banana:
     
  18. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    Still kicking meself for not loading up on 7 dollar bit coin. Could have been a fecking millionaire and told lots of people " hey, feck yourself buddy".

    Ok going to watch the ticker for a deal on silver.

    Congrats on the nice gains sir.
     
  19. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    ^^^^^^
    Me too but it wasn't even on my financial radar at the time.

    Thank you. Better something than nothing!
     
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