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Bitcoin lost 50 percent of their value on friday
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Author Topic: Bitcoin lost 50 percent of their value on friday  (Read 8714 times)
davidbugs
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Reply #30: Apr 01, 2014 04:08 pm

Duh, of course they are taxing it, would be stupid to assume they wouldn't...

I guess I'm missing your point?

http://money.cnn.com/2014/03/31/technology/irs-bitcoin/
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iamliving

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Reply #31: Apr 01, 2014 04:34 pm

Is this accurate?  >> http://preev.com/

$459 for a bitcoin?

Just curious from the time this thread open to its reemergence, bitcoin has lost ~$450.
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garywelsh
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Reply #32: Apr 01, 2014 05:03 pm

And i guess if they could tax the air we breath the would have done so already  Wink

Of course, who's going to pay for government corruption big grin

Any income from any source is taxed, it doesn't matter be it BITCOIN or rock currency,
anything that can be converted to money becomes an earning so you get taxed.

The only thing the IRS does not tax is the air that you breath big grin

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insidmal
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Reply #33: Apr 01, 2014 10:23 pm

Even if you do mining bitcoin. YOu have to report bitcoin earning gain or loss.

Well yea.. I'm running a business, of course I'm going to report all my earnings regardless the currency they come in as.. especially since I'm selling mostly services to other business owners you better believe there's a paper trail Smiley
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donatien
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Reply #34: Apr 01, 2014 10:49 pm

And i guess if they could tax the air we breath the would have done so already  Wink


its near already exist
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mhmgs
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Reply #35: Apr 02, 2014 02:44 am

Today its value is $482 per 1 BTC. Day by day high fluctuations going on. Not good for currency trading, but still it is attractive as a currency.
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iamliving

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Reply #36: Apr 02, 2014 11:21 am

Today its value is $482 per 1 BTC. Day by day high fluctuations going on. Not good for currency trading, but still it is attractive as a currency.

Im guessing this was answering my question, thanks. /notsarcasm
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davidbugs
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Reply #37: Apr 02, 2014 05:04 pm

Now price drop 432
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Darkstar2
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Reply #38: Apr 02, 2014 06:29 pm

Now price drop 432


People are fear selling, if people start to lose hope and fear it will drive more sellers and the value will drop further.  Keep in mind the opposite can happen too, happens with stocks all the time.

Like I said before I think the whole Mtx thing damaged bitcoin. When people hear security flaws and stolen, that does not encourage people and sets fear.

Oh I can imagine people who spent $8k-$25k on the top ASIC miners thinking that BTC would
sky rocket and make them riches.........They either did a bad investment or they will have to wait a bit longer (see what I just did? big grin)

There are 2 things that can happen.....People will regain confidence and buy low, driving price to go up.........  OR the crypto will crash and on to the next crypto big grin

I'm sure now with the IRS news that won't help an already shitty situation ! 
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DanielBinghamJr
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Reply #39: Apr 02, 2014 06:33 pm

People are fear selling, if people start to lose hope and fear it will drive more sellers and the value will drop further.  Keep in mind the opposite can happen too, happens with stocks all the time.

Like I said before I think the whole Mtx thing damaged bitcoin. When people hear security flaws and stolen, that does not encourage people and sets fear.

Oh I can imagine people who spent $8k-$25k on the top ASIC miners thinking that BTC would
sky rocket and make them riches.........They either did a bad investment or they will have to wait a bit longer (see what I just did? big grin)

There are 2 things that can happen.....People will regain confidence and buy low, driving price to go up.........  OR the crypto will crash and on to the next crypto big grin

I'm sure now with the IRS news that won't help an already shitty situation ! 


The latest price crash is because of rumors that the Chinese government is going to ban Bitcoin, last I heard.

The market effect cause by Mt. Gox is largely over with, now its just a running joke. And the IRS seeing Bitcoin as property is old news as well. Wink
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Darkstar2
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Reply #40: Apr 02, 2014 08:25 pm

The latest price crash is because of rumors that the Chinese government is going to ban Bitcoin, last I heard.

The market effect cause by Mt. Gox is largely over with, now its just a running joke. And the IRS seeing Bitcoin as property is old news as well. Wink

Why would China ban BITCOIN ?  I have not followed much on that ....
It's not as if BITCOIN will replace all world currency FFS.......Legal tender will always be preferred currency, even for criminals !   Only a small % of criminal activity is done with eCurrency and Crypto.....compared to legal tender.
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insidmal
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Reply #41: Apr 02, 2014 10:52 pm

Why would China ban BITCOIN ?  I have not followed much on that ....
It's not as if BITCOIN will replace all world currency FFS.......Legal tender will always be preferred currency, even for criminals !   Only a small % of criminal activity is done with eCurrency and Crypto.....compared to legal tender.


it threatens a currency monopoly.. banks profit off of you being forced to use them to transact currency.. bitcoin threatens the entire business model of money service brokers
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lynnj
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Reply #42: Apr 02, 2014 11:21 pm

Nothing to fear guys, bitcoins use and business growth is still growing right now, screw the profit. Thinking like that will just cause a bunch of wasted hype. It's why I am coding a little processor, I wanna increase bitcoins scope and use on the net.
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PHP/MYSQL developer. Current works in progress Smiley .
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Reply #43: Apr 03, 2014 12:27 am

Thanks to all for giving this information.
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