• Same story, different day...........year ie more of the same fiat floods the world
  • There are no markets
  • "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

Dumped bitcoin

gringott

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#1
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.
 

gringott

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#3
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.
 

D-FENZ

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#4
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.
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.
 

gringott

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#5
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.
 

madhu

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#7
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.
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
 

solarion

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#8
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.
 

gringott

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#9
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.
 

solarion

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#10
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.

 

gringott

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#11
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.

 

solarion

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#13
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.
 

Alton

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#14
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".
 

solarion

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#15
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.
 

Buck

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#17
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.
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