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Showing 8 of 8 results by kallekoll
I would like to make sure that my first million won't be the last one. For this I would reinvest a portion of my bitcoin profits to stocks.
3 questions rise:
1. Must I pay income tax before investing my bitcoin earnings to stocks?
2. How profitable can stocks be?
3. This is probably lame but: what stocks would you suggest to buy?
I wouldn't own stocks to trade them but to get the dividends. However, I have no idea how profitable stocks are in that sense. Can anyone tell me how much money I should invest in some nice stocks in order for them to earn me noticeable dividends?
3 questions rise:
1. Must I pay income tax before investing my bitcoin earnings to stocks?
2. How profitable can stocks be?
3. This is probably lame but: what stocks would you suggest to buy?
I wouldn't own stocks to trade them but to get the dividends. However, I have no idea how profitable stocks are in that sense. Can anyone tell me how much money I should invest in some nice stocks in order for them to earn me noticeable dividends?
There are better places to find advice about stock market investment than the bitcoin forums.
Currency has value because people store it. That is, it has value because people do not immediately liquidate units of A to get units of X. If no one wants to hold A, A has no value. People hold currency/gold/shells because they anticipate that it will have value in the future. Collectively, this gives something a global value. So, I reject the notion that value comes solely from ease of convertibility. Gold is a perfect example.
I disagree. Something has value because people will buy it. A currency has value because people will buy it in exchange for goods and services, or other currencies. People are willing to buy gold, thats is the reason it has value.
You are wrong for one reason. You assume that bitcoin's only use is for point of sale transactions. It serves many other purposes. Why bother with bank wires anymore? Or traditional banks for that matter?
Sure, bitcoin can be useful as a replacement for bank wire transfers. But after the transfer the reciever will probably sell the bitcoins on an exchange for a more well established currency, and so then the bitcoin market price would drop back to where it was before the sender bought the coins. That kind of use would not cause the market price to go up.
The reciever could keep the coins, but what for? Either hoarding (speculation), or for actually using it as a currency.
A currency is "used as a way to pay for goods and services and to pay people for their work" (Merriam-Webster definition). We would see these transactions for goods and services in the blockchain, but we dont.
[CHART] Market Price vs Number of Transactions. Why it's a speculative bubble
http://i.imgur.com/92o8eqR.png
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 800%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions should increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is only around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 800%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions should increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is only around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.
Re: Using bitcoinrichlist to see when the big players prepare for selling
By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.
Anyone want to work out the % of coins involved?
Anyone want to work out the % of coins involved?
This is very interesting on a theoretical point of view. What would you need to get the bitcoins in those wallets? Each address has a public and private key. Where is the public key published? Also, couldn't you just brute-force the discovery of the private key?
As far as i know it's not feasible to bruteforce a wallet only having the address. Here is a stackexchange discussion on that topic
Re: Using bitcoinrichlist to see when the big players prepare for selling
Most of these addresses are paper wallet and have zero activity.
They might be cold storage people use to keep their stash safe? Also as AstroBoy said, all of them had activity in the past week.
Using bitcoinrichlist to see when the big players prepare for selling
http://bitcoinrichlist.com/top100
The richest bitcoin address is at the time of writing worth 144,341 BTC or 162,958,687 USD. 21.62% of all bitcoins are today held in the top 100 addresses.
If we monitor these addresses, we could detect movement when these big players decide to do something, like moving coins from cold wallets to hot wallets before selling.
This way, we could know about a selloff before it's actually executed on an exchange.
For example: 1DWosvn7iEv6TUfCUXsmLqNVBZi9usEkex (worth 46000 BTC) recently moved all but 1600 of his coins. Where did he move them? If he moved them to some exchange, he might be preparing to sell.
Is there a way to know which addresses are linked to exchanges?
The richest bitcoin address is at the time of writing worth 144,341 BTC or 162,958,687 USD. 21.62% of all bitcoins are today held in the top 100 addresses.
If we monitor these addresses, we could detect movement when these big players decide to do something, like moving coins from cold wallets to hot wallets before selling.
This way, we could know about a selloff before it's actually executed on an exchange.
For example: 1DWosvn7iEv6TUfCUXsmLqNVBZi9usEkex (worth 46000 BTC) recently moved all but 1600 of his coins. Where did he move them? If he moved them to some exchange, he might be preparing to sell.
Is there a way to know which addresses are linked to exchanges?
I bought some bitcoins long ago and forgot about it until i saw now that the prices is high again. I opened my truecrypt volume and started the bitcoin client, to see that my balance was zero, which i think is because i transferred my coins to Tradehill for some reason. I don't remember exactly what i did.
http://blockchain.info/address/1Fs2QH7jjtvYsg5x8b8ymEkGRuk4Ph5Kqb
There is what happened to my wallet, does anyone know who owns the address i sent that money to? Was it Tradehill?
http://blockchain.info/address/1Fs2QH7jjtvYsg5x8b8ymEkGRuk4Ph5Kqb
There is what happened to my wallet, does anyone know who owns the address i sent that money to? Was it Tradehill?