https://youtu.be/jjG8_hpqTL4

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I family planning on getting a bitcoin with my next paycheck.

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I family planning on getting a bitcoin with my next paycheck.

 

Bitcoin prevents pregnancy. Huh, who knew.

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Bitcoin prevents pregnancy. Huh, who knew.

Translation: When your woman finds out you spend real money on imaginary money...you ain't getting any.

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What in the Wide Wide World of Sports is agoin' on here???

Translation: When your woman finds out you spend real money on imaginary money...you ain't getting any.

 

Even worse, you ain't spending the imaginary money on her. 

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Thought it would be fun to resurrect this.

Anyone make any money on the recent explosion?

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IT WAS ALWAYS THE JAGS

Thought it would be fun to resurrect this.

Anyone make any money on the recent explosion?

I had a spare Pentium G4560 and 6GB GTX 1060 lying around, so naturally I'm mining zcash now. Pleasantly surprised by the performance. Doesn't hurt that my 1060 overclocks like a racehorse on steroids.

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Thought it would be fun to resurrect this.

Anyone make any money on the recent explosion?

If you did the IRS is coming knocking for their fairshare.

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Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.

Thought it would be fun to resurrect this.

Anyone make any money on the recent explosion?

If you did the IRS is coming knocking for their fairshare.

If you cashed out, yes, they are. If you didn't convert it into cash, no, they're not.

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Chia is a new cryptocurrency worth looking into. It's going to be launched early next year and has an interesting business model.

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Coughlin when asked if winning will be a focus: "What the hell else is there? This is nice and dandy, but winning is what all this is about."

I've doubled my money in Litecoin and Ethereum since mid November. Unfortunately it's hasn't amounted to much since I didn't put much in. But double is double.

I'm going to hold off until the BTC futures start being traded to try to catch a dip

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IT WAS ALWAYS THE JAGS

I've doubled my money in Litecoin and Ethereum since mid November. Unfortunately it's hasn't amounted to much since I didn't put much in. But double is double.

I'm going to hold off until the BTC futures start being traded to try to catch a dip

There are two main reasons I jumped into ZEC. One, it loves NVIDIA cards, and the 1060 I have happens to be NVIDIA, so the price of admission was literally zero given that the rig is just slapped together unused gaming equipment. Just the cost of power, which is easily covered. Also, my 1060 apparently overclocks like a freaking monster and is picking up 320-330 sol/s vs. the typical 1060 performance of 290.

Two, it's pretty easy to convert into BTC, and BTC can then be used to purchase gift cards, material goods (not drugs, guns, or DragonFury's ex-girlfriend) without having to screw with cashing out. The way I'm looking at it, I'm indirectly mining BTC in an environment with much less competition.

Of course, if the value of zcash spikes after I have some built up and I can get a good deal on BTC, I'll deal with the tax ramifications of changing out for cash.

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I’ve been dabbling in ETH and BTC. Nothing major.

For me it’s more of a way to manufacture spending than a proper investment. The investment part certainly hasn’t hurt so far though.

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It's still interesting to speculate the future of Bitcoin. Some are projecting $40k next December and others are projecting the whole thing falling down to next to nothing. Others have it rising to $1mil by 2020.

It's so volatile. If never put it in say my IRA yet, but if you have a couple Grand you're willing to potentially lose, they payoff could be huge

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IT WAS ALWAYS THE JAGS

I've doubled my money in Litecoin and Ethereum since mid November. Unfortunately it's hasn't amounted to much since I didn't put much in. But double is double.

I'm going to hold off until the BTC futures start being traded to try to catch a dip

There are two main reasons I jumped into ZEC. One, it loves NVIDIA cards, and the 1060 I have happens to be NVIDIA, so the price of admission was literally zero given that the rig is just slapped together unused gaming equipment. Just the cost of power, which is easily covered. Also, my 1060 apparently overclocks like a freaking monster and is picking up 320-330 sol/s vs. the typical 1060 performance of 290.

Two, it's pretty easy to convert into BTC, and BTC can then be used to purchase gift cards, material goods (not drugs, guns, or DragonFury's ex-girlfriend) without having to screw with cashing out. The way I'm looking at it, I'm indirectly mining BTC in an environment with much less competition.

Of course, if the value of zcash spikes after I have some built up and I can get a good deal on BTC, I'll deal with the tax ramifications of changing out for cash.

Damn I wish I spoke computer like you guys

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I’ve been dabbling in ETH and BTC. Nothing major.

For me it’s more of a way to manufacture spending than a proper investment. The investment part certainly hasn’t hurt so far though.

I would've thought you'd be in the same boat as me with slowwww internet. Even if I knew what the heck was going on I don't my PC and or connection could handle any mining.

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It's still interesting to speculate the future of Bitcoin. Some are projecting $40k next December and others are projecting the whole thing falling down to next to nothing. Others have it rising to $1mil by 2020.

It's so volatile. If never put it in say my IRA yet, but if you have a couple Grand you're willing to potentially lose, they payoff could be huge

Keep the specter of regulation in mind. I think one of three things could bring down Bitcoin in a hurry:

1. The market value inflating so quickly that the real-world currency isn't there to accommodate those who want to cash out
2. The US government stepping in and attempting to regulate and tax Bitcoin out of existence, or just straight-up outlawing it
3. The end of net neutrality

Had you asked me before a couple of weeks ago, I'd have said that the first was inevitable. Now that I've done the research, I'm not so sure that it's a definite. I think the second option is a very real possibility. The more mainstream Bitcoin becomes, the more the government is going to become interested in getting its cut on the coin generation (or purchase) and especially on the back end when it's cashed out. There are plenty of ways to hide cryptocurrency activity from taxation now, but the more the Fed starts seeing average families invest in Bitcoin instead of in their precious stock exchange, you'll see the hammer come down fast. It doesn't help that there are paid-for industry shills running their mouth on prominent banking, finance and payments industry sites that stand on the rooftop of the building Bank of America bought them and scream about how Bitcoin is designed to fund drugs, terrorism and prostitution and must be killed off.

The third one is interesting, and of immediate concern to me. When that phallus-faced Verizon lobbyist-turned-regulator kills net neutrality, what's to keep the Comcasts of the world from throttling mining traffic to a standstill, as they're expected to do with major torrent servers? Or, more likely, creating a package that adds to your monthly bill, but unlocks full speed for mining traffic? I admittedly haven't read enough yet to fully understand this, but it seems to me that paid prioritization could be used by ISPs to milk a little more money out of dedicated miners--and price the guys who are doing it for fun (me) out of the market entirely.

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It's still interesting to speculate the future of Bitcoin. Some are projecting $40k next December and others are projecting the whole thing falling down to next to nothing. Others have it rising to $1mil by 2020.

It's so volatile. If never put it in say my IRA yet, but if you have a couple Grand you're willing to potentially lose, they payoff could be huge

Keep the specter of regulation in mind. I think one of three things could bring down Bitcoin in a hurry:

1. The market value inflating so quickly that the real-world currency isn't there to accommodate those who want to cash out
2. The US government stepping in and attempting to regulate and tax Bitcoin out of existence, or just straight-up outlawing it
3. The end of net neutrality

Had you asked me before a couple of weeks ago, I'd have said that the first was inevitable. Now that I've done the research, I'm not so sure that it's a definite. I think the second option is a very real possibility. The more mainstream Bitcoin becomes, the more the government is going to become interested in getting its cut on the coin generation (or purchase) and especially on the back end when it's cashed out. There are plenty of ways to hide cryptocurrency activity from taxation now, but the more the Fed starts seeing average families invest in Bitcoin instead of in their precious stock exchange, you'll see the hammer come down fast. It doesn't help that there are paid-for industry shills running their mouth on prominent banking, finance and payments industry sites that stand on the rooftop of the building Bank of America bought them and scream about how Bitcoin is designed to fund drugs, terrorism and prostitution and must be killed off.

The third one is interesting, and of immediate concern to me. When that phallus-faced Verizon lobbyist-turned-regulator kills net neutrality, what's to keep the Comcasts of the world from throttling mining traffic to a standstill, as they're expected to do with major torrent servers? Or, more likely, creating a package that adds to your monthly bill, but unlocks full speed for mining traffic? I admittedly haven't read enough yet to fully understand this, but it seems to me that paid prioritization could be used by ISPs to milk a little more money out of dedicated miners--and price the guys who are doing it for fun (me) out of the market entirely.

Neutrality concerns me as well. For more reasons other than Bitcoin. However, most mining is done outside the states anyway, so while it may hurt your ability, I don't think it will hurt the industry itself too much.

I honestly don't mind capital gains taxes on coins all that much. At least not any more than I hate it for any other investment (Roth FTW) But there could be your loophole as well, if you can use a Roth IRA as a medium to invest in BTC, it could potentially erase, at least some, of that tax bill.

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IT WAS ALWAYS THE JAGS

Keep the specter of regulation in mind. I think one of three things could bring down Bitcoin in a hurry:

1. The market value inflating so quickly that the real-world currency isn't there to accommodate those who want to cash out
2. The US government stepping in and attempting to regulate and tax Bitcoin out of existence, or just straight-up outlawing it
3. The end of net neutrality

Had you asked me before a couple of weeks ago, I'd have said that the first was inevitable. Now that I've done the research, I'm not so sure that it's a definite. I think the second option is a very real possibility. The more mainstream Bitcoin becomes, the more the government is going to become interested in getting its cut on the coin generation (or purchase) and especially on the back end when it's cashed out. There are plenty of ways to hide cryptocurrency activity from taxation now, but the more the Fed starts seeing average families invest in Bitcoin instead of in their precious stock exchange, you'll see the hammer come down fast. It doesn't help that there are paid-for industry shills running their mouth on prominent banking, finance and payments industry sites that stand on the rooftop of the building Bank of America bought them and scream about how Bitcoin is designed to fund drugs, terrorism and prostitution and must be killed off.

The third one is interesting, and of immediate concern to me. When that phallus-faced Verizon lobbyist-turned-regulator kills net neutrality, what's to keep the Comcasts of the world from throttling mining traffic to a standstill, as they're expected to do with major torrent servers? Or, more likely, creating a package that adds to your monthly bill, but unlocks full speed for mining traffic? I admittedly haven't read enough yet to fully understand this, but it seems to me that paid prioritization could be used by ISPs to milk a little more money out of dedicated miners--and price the guys who are doing it for fun (me) out of the market entirely.

Neutrality concerns me as well. For more reasons other than Bitcoin. However, most mining is done outside the states anyway, so while it may hurt your ability, I don't think it will hurt the industry itself too much.

I honestly don't mind capital gains taxes on coins all that much. At least not any more than I hate it for any other investment (Roth FTW) But there could be your loophole as well, if you can use a Roth IRA as a medium to invest in BTC, it could potentially erase, at least some, of that tax bill.

I think that all income should be untaxed, with a consumption tax instead, but that's just me. The easiest way to convert crypto to cash without tax liability involves gift cards, and I'm not really going to delve any further into tax evasion on a public message board lol

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I’ve been dabbling in ETH and BTC. Nothing major.

For me it’s more of a way to manufacture spending than a proper investment. The investment part certainly hasn’t hurt so far though.

I would've thought you'd be in the same boat as me with slowwww internet. Even if I knew what the heck was going on I don't my PC and or connection could handle any mining.

Haha I’m capped at 10mb/s. 

I don’t mine it, I invest in it like a stock. BTC is up 35% this week.

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Neutrality concerns me as well. For more reasons other than Bitcoin. However, most mining is done outside the states anyway, so while it may hurt your ability, I don't think it will hurt the industry itself too much.

I honestly don't mind capital gains taxes on coins all that much. At least not any more than I hate it for any other investment (Roth FTW) But there could be your loophole as well, if you can use a Roth IRA as a medium to invest in BTC, it could potentially erase, at least some, of that tax bill.

I think that all income should be untaxed, with a consumption tax instead, but that's just me. The easiest way to convert crypto to cash without tax liability involves gift cards, and I'm not really going to delve any further into tax evasion on a public message board lol

Haha don't blame you. And yeah, I'm a big fan of a basic flat tax on purchases and zero income tax, but this is a discussion for another place.

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IT WAS ALWAYS THE JAGS