<p>I think I would contact any law firm that mentions they are involved in the case. </p>
<p>I might even contact Henry Blodget and see if he has any ideas. I have to think about that.</p>
<p>There are going to be lawsuits. You will probably be part of a class action lawsuit. I have no idea if there is money to be found. Keep your records. </p>
<p>Ok… krillies, you were just highlighting that quote… :)</p>
<p>I don’t own any BTC. I didn’t want to be a guinea pig. I don’t know if the Mt. Gox customers have any recourse since the bitcoin industry is not regulated. Is it even taxed if you have profits? So you can’t even declare it as a loss.</p>
<p>Mt. Gox is (was) in located in Japan. Pretty hard to sue in that case. There’s nothing left anyway.</p>
<p>As far as taxes, I believe the gov’t treats it any other investment - you have a basis, when you sell you have a capital gain or loss. Which makes using bitcoins in daily life tremendously inconvenient - every time you buy a candy bar with a bitcoin, you’ve created a taxable event to report on schedule D. </p>
<p>A friend of mine who is crazy into bitcoin claims that problems with Mt. Gox were well-known and that if you had a brain you wouldn’t have had any coins stored there. He also keeps all of his offline, which reduces the chance for theft to when you actually trade them, I guess.</p>
<p>
Interesting. Does the bitcoin exchange produce a 1099 statement? </p>
<p>Singapore police probe ‘unnatural’ death of American CEO of bitcoin trader
<a href=“http://www.reuters.com/article/2014/03/06/us-bitcoin-death-idUSBREA2505120140306”>http://www.reuters.com/article/2014/03/06/us-bitcoin-death-idUSBREA2505120140306</a></p>
<p>I should qualify that by saying that seems to be the consensus I’ve read on the internet, as much as there is one. The IRS has not issued guidance on whether it would be considered a capital asset, currency, commodity, or something else.</p>
<p>No idea if the exchanges are producing any kind of 1099. I don’t know if any of them are even in the U.S. Or if an “exchange” is even required. You don’t get 1099’s from the NYSE for example.</p>
<p>re: oldmom’s post</p>
<p>There’s been some unusual deaths/”suicides” of bankers and corporate officers in the news lately. I wonder if the dots are connected.</p>
<p>Yeah… I remember you are a woman, krillies. That should have been a tell. :)</p>
<p>And what a fine woman she is, so don’t forget it! 
</p>
<p>busdriver11, do you have internet wifi on your planes? I bought shares of GOGO a while back. The company enables passengers to access the internet while flying for about 10 or 15 dollars as I recall. The seem to be expanding but have some competitors. SAC Capital just bought 4.3 million shares. I am hoping earnings are good because if so the stock will rock I suspect.</p>
<p>I use GoGo a lot, but not while working, just as a passenger. Everyone around me seems to be hooked up too. They seem to have a lock on the American market.</p>
<p>Re: GoGo. When the damn thing works… It is great. When it doesn’t - it is a major pain. Most of the time it is abysmal. 
I really hope they will sort the issues out soon. </p>
<p>I know someone who has been mining BTC casually for months now. He now was the equivalent of nearly $3US. Might be able to buy a coffee or a cheap burger. Fortunately, he’s just doing this to learn more about cyber currencies. He finds it “inexpensive education,” tho he did blow one household fuse–don’t ask, he won’t tell. </p>
<p>
</p>
<p>It’s just not worth doing anymore. </p>
<p>I never tried mining bicoin but I did mine litecoin and dogecoin each for a day. I mined a quarter of a litecoin (which at the time was worth about 50 cents) and is now worth $4. And I mined 26 dogecoin which at the time was worth about 1 cent but it now worth about 3 cents. </p>
<p>I have an nVidia card which are not meant for mining, but still, hard to see the value here in mining these. Theres no get rich quick scheme involved with mining these. </p>
<p>" And I mined 26 dogecoin which at the time was worth about 1 cent but it now worth about 3 cents."</p>
<p>Hey, 300 percent, that’s an awesome return!</p>
<p>Yea, but he used it as an excuse to buy a souped up new computer. Not sure if his net mining even offsets the cost of the replacement fuse he blew. Fortunately, his home is photovoltaic, so electricity bill hasn’t increased. Oh well, he’s been amused. </p>
<p>The market is up 170% since 2009,</p>
<p><a href=“http://finance.yahoo.com/news/market-170-since-2009-141023852.html”>http://finance.yahoo.com/news/market-170-since-2009-141023852.html</a></p>
<p>How do you compare?</p>
<p>Best range of index funds/lazy portfolio anyone can recommend? We are still trying to figure this out. Thanks for suggestions. We did buy s few stocks using the magicformulainvesting.com site as well. </p>
<p>Have you checked at Boglehead website? There’s a lot of information about index fund investing there. Posters also make very helpful comments.</p>