Bitcoin finally back over $10K

**celandina** · 11-07-2020, 05:59 AM

Originally posted by ruff

You don't buy a flat without paying the taxman.

But thanks. I thought BTC was all about avoiding the tax man

**ruff** · 11-07-2020, 07:32 AM

Originally posted by celandina

But thanks. I thought BTC was all about avoiding the tax man

When you buy something like that, there is instantly a paper trail. The party you are purchasing from now has to account for the money. They may not want to avoid the taxman and that puts you in a bad position. Not much different than the local drug dealer, numbers guy, and/or mafioso. The crypto would need to be laundered.

Someday when I cash in my crypto, I plan on paying taxes on it. Otherwise I will go to prison here in the USA. With big numbers they don't fuck around.

There are lots of things you can buy with crypto that no one cares about. Mostly small stuff, but large purchases attract attention because there are always two parties involved.

**celandina** · 11-08-2020, 06:21 AM

Originally posted by ruff

When you buy something like that, there is instantly a paper trail. The party you are purchasing from now has to account for the money. They may not want to avoid the taxman and that puts you in a bad position. Not much different than the local drug dealer, numbers guy, and/or mafioso. The crypto would need to be laundered.

Someday when I cash in my crypto, I plan on paying taxes on it. Otherwise I will go to prison here in the USA. With big numbers they don't fuck around.

There are lots of things you can buy with crypto that no one cares about. Mostly small stuff, but large purchases attract attention because there are always two parties involved.

Thanks again and yes it is a substantial sum....

**freecartoonporn** · 11-11-2020, 01:30 AM

ill hold my 0.1 btc for i guess 30+ years

**ruff** · 11-11-2020, 06:07 AM

Originally posted by freecartoonporn

ill hold my 0.1 btc for i guess 30+ years

You are what we call a Bitcoin Baller. By then it will be worth a billion dollars.

**freecartoonporn** · 11-11-2020, 08:15 AM

Originally posted by ruff

You are what we call a Bitcoin Baller. By then it will be worth a billion dollars.

i read somewhere 0.1 btc will be a pretty big in near future bcoz of finite supply of btc.

**nikki99** · 11-11-2020, 09:58 AM

16k now for a couple of minutes....

**ruff** · 11-11-2020, 08:34 PM

Originally posted by freecartoonporn

i read somewhere 0.1 btc will be a pretty big in near future bcoz of finite supply of btc.

Just hodl it and buy more if you can. It is nowhere near its peak yet. There is a finite amount of BTC and it will be mined out in 2022. Then that's all there will be. BTC will be the equivalent of digital gold, only easier to carry.

**jscott** · 11-12-2020, 12:44 AM

Originally posted by freecartoonporn

i read somewhere 0.1 btc will be a pretty big in near future bcoz of finite supply of btc.

∞(fiat)/21,000,000 = sky is the limit

if someday you hear about cash printers calling it quits, maybe we'll reach a plateau price for Bitcoin

Originally posted by ruff

Just hodl it and buy more if you can. It is nowhere near its peak yet. There is a finite amount of BTC and it will be mined out in 2022. Then that's all there will be. BTC will be the equivalent of digital gold, only easier to carry.

^^ what he said

**CaptainHowdy** · 11-12-2020, 06:50 AM

I'm only amassing spiritual wealth . . .

**phman79** · 11-12-2020, 07:54 AM

Originally posted by jscott

∞(fiat)/21,000,000 = sky is the limit

if someday you hear about cash printers calling it quits, maybe we'll reach a plateau price for Bitcoin

^^ what he said

Look at the US National Debt Clock we are at 27 Trillion , if you use the time machine it says we are going to be at 47 Trillion in 4 years!! So I say by that time probably over 50 Trillion. Our debt is going to cause all kinds of trouble with our currency, stuff like Bitcoin, Gold, Silver are going to be the thing to hold on to and if bitcoin gets mined out by 2022 I can only imagine where this is going to go.

**ruff** · 11-12-2020, 11:34 AM

Over 16K now.

**freecartoonporn** · 11-13-2020, 02:10 AM

Originally posted by ruff

Just hodl it and buy more if you can. It is nowhere near its peak yet. There is a finite amount of BTC and it will be mined out in 2022. Then that's all there will be. BTC will be the equivalent of digital gold, only easier to carry.

the final bitcoin is unlikely to be mined until around the year 2140

ref : https://www.investopedia.com/tech/wh...million-mined/

**ruff** · 11-13-2020, 12:21 PM

Originally posted by freecartoonporn

the final bitcoin is unlikely to be mined until around the year 2140

ref : https://www.investopedia.com/tech/wh...million-mined/

It will probably take all the electricity on earth to get that last one! That Satoshi is a crafty bastard.

**freecartoonporn** · 11-14-2020, 10:38 PM

Originally posted by ruff

It will probably take all the electricity on earth to get that last one! That Satoshi is a crafty bastard.

i am not sure. but that will only happen if difficulty increases, if no new miners will be there then i guess difficulty will may be decrease, i guess difficulty is dependent on hashpower or something like that ?

**nikki99** · 11-17-2020, 03:18 AM

17 k....................

**ruff** · 11-17-2020, 05:37 AM

Originally posted by freecartoonporn

i am not sure. but that will only happen if difficulty increases, if no new miners will be there then i guess difficulty will may be decrease, i guess difficulty is dependent on hashpower or something like that ?

Beats me. I tried mining years ago. Never made a dime. If I had just bought BTC instead of all that mining equipment, I would be hugely ahead of the game.

**Sergio** · 11-17-2020, 07:06 AM

ruff

Would you buy now also if you had spare funds?

**ruff** · 11-17-2020, 09:56 AM

Originally posted by Sergio

ruff

Would you buy now also if you had spare funds?

I have not stopped buying BTC. I buy continuously using dollar cost averaging.
I speculate with other coins, but hodl BTC.

**ReggieDurango** · 11-30-2020, 08:39 PM

Holy hell it's rising! Do I have to make a new thread for $20K?

**Paul&John** · 11-30-2020, 10:48 PM

to the moon finally?

Bitcoin finally back over $10K

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