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Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
http://www.reddit.com/r/Bitcoin/comments/1komit/mtgox_down/
USA here. Keeps switching from 502 Bad Gateway, to being up and not accepting logins, to 503 Service Temporarily Unavailable.
edit: back up.
USA here. Keeps switching from 502 Bad Gateway, to being up and not accepting logins, to 503 Service Temporarily Unavailable.
edit: back up.
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
The login widget on the home page is broken. I was able to get in by going to mtgox.com/login, which uses a different form (I am in USA).
Confirmed http://mtgox.com/login works. Phew! Got to panic dump some coins in light of this coinlab news. I could kiss you! Or tip you if you put your bitcoin address in your sig.
Haha if you insist! Made an address for my sig.
http://bitcoinium.com/ is working
Assuming one does pay taxes when buying USD with BTC, would EACH conversion of BTC -> USD incur capital gains? That is, if BTC are modeled after forex or securities in tax terms.. don't you have to set aside something for taxes each time you realize a gain?
The reason I ask is because I see a lot of people mentioning market day trading, "selling high buying low" every day. Similarly, I hear about people having bots that perform arbitrage between exchanges where the "profit" is larger than the fees incurred.
However, usually I do the math, and if short-term capital gains are considered, most of the above transactions that happen in regular volatility and not BIG volatility actually lose money or barely break even. As an example:
Spend $10,000 on BTC at $100, get 99.4 coins after mtgox fees.
Later that day, sell 99.4 coins at $120, get $11856 after mtgox fees.
This is a capital gain of $1856, set aside a third for taxes. You now have $11237 in fiat.
Later that day, buy back in at $112. You get... 99.4 coins back.
All you have accomplished is a) making some money for the IRS and none for yourself b) resetting the timer for long-term capital gains tax rates.
Am I missing something, or is the above interpretation accurate? Is the takeaway just that a lot of US-based traders don't plan on paying taxes or haven't looked into them enough?
The reason I ask is because I see a lot of people mentioning market day trading, "selling high buying low" every day. Similarly, I hear about people having bots that perform arbitrage between exchanges where the "profit" is larger than the fees incurred.
However, usually I do the math, and if short-term capital gains are considered, most of the above transactions that happen in regular volatility and not BIG volatility actually lose money or barely break even. As an example:
Spend $10,000 on BTC at $100, get 99.4 coins after mtgox fees.
Later that day, sell 99.4 coins at $120, get $11856 after mtgox fees.
This is a capital gain of $1856, set aside a third for taxes. You now have $11237 in fiat.
Later that day, buy back in at $112. You get... 99.4 coins back.
All you have accomplished is a) making some money for the IRS and none for yourself b) resetting the timer for long-term capital gains tax rates.
Am I missing something, or is the above interpretation accurate? Is the takeaway just that a lot of US-based traders don't plan on paying taxes or haven't looked into them enough?
Coinbase has reached its buy limit.
I have been trying for over a week now several times a day and I get that message every time 
If you want to buy from Coinbase you basically have to leave a script running that submits a buy request with your API key. I never had any luck trying it manually.
Like the previous poster, I'm contemplating participating in the Avalon 3 pool thread. If I do decide to, it would be nice to be able to do so within the next few hours rather than waiting.
mtgox may say that international wire transfers take 2-5 days, plus another day for AML, but that's not always the case. It took less than 24 hours for me between filling out the wire transfer form, to having funds available on the exchange. Of course that may differ depending on your bank and/or the load per day... and who knows if they prioritize incoming transactions depending on size?
Re: what new computer/VC should i buy that will be efficient for mining/work?
From lurking, I believe we've reached the point where quite soon GPU won't be worthwhile at all. They have been surpassed by FPGA and now ASIC; the impact of those technologies' far greater hash rates will drive difficulty up. Of course GPU mining will still be possible, but due to the increased difficulty, it'll take a lot longer to mine coins with GPUs - and it's probably the case that the coins a GPU generates will be worth less in total than the electricity used. You would just lose money.
Howdy!
Been familiar with bitcoin for a few years, started following the price charts / this forum's wall observer thread a few months ago. Almost bought in at 45, been kicking myself that I didn't. Finally pulled the trigger a couple days ago.
I'm sure by the time I finish this post BFL will have shipped
Been familiar with bitcoin for a few years, started following the price charts / this forum's wall observer thread a few months ago. Almost bought in at 45, been kicking myself that I didn't. Finally pulled the trigger a couple days ago.
I'm sure by the time I finish this post BFL will have shipped