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ignoring the iou and premine part of ripple
just the XRP bit of it, is that a perfectly good crypto? I.e you can send XRP to any one as you can BTC, its not centralised, doesnt require mining
is this right...
what is the algo they use to do this, how does the consensus work....it seems fast.
who decides who gets on the UNL....
seems that a whole load of servers couls sit there and ban out the other servers saying the yare not on the UNL and rewrite what the wish, so a 51% by server....or something similar
sorry this may be in alts although I am asking in relation to BTC algo...
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We've built something that does this for about 80 different coins and you can vote (for free) for other coins to be added.
We do not store any private key data.
We would add all the coins, but the alt-coins are just coming out way too fast.
If you're storing coins on any of 10 major exchanges (Cryptsy, BTC-e, Coins-E, etc), we'll add those in to the balance as well. We just need a read-only API key.
If you're mining, we'll also connect to the API of the most common MPOS type pools and track the confirmed/unconfirmed balances, and show you your hash rate.
Then, if you want to filter it, you can look at it by coin, by address, or by location (exchange, blockchain, mining pool, etc). We'll sum up everything on the blockchains, or at exchanges so you can see what you're third-party exposure looks like.
You can set notifications if your total balance goes up/down by X% or by a fixed $USD amount. Or, you can specify when just one coin like DOGE or IFC goes up by X%. We always require a SSL connection to our site to prevent snooping by whomever. Take a look: https://CoinCPA.comThere's also some screeshots here on Coinbase's Apps: https://coinbase.com/apps/5339eac5da84696e7600003fAnd, we have an API if you want to build on top of CoinCPA. Tron CEO, CoinCPA.com So your service, the image is not clear, can I just put address in, store them locally and pull out the data, from the chains do I have to pay for you api to do this??? What I am after and propose is I never send and address or wallet or anything to any third party that I have to sign up for. Also I want to be able to use tor to look, so that it makes it hard to see if I send something nor do I want to have to run a local node so API calls through Tor to no singing service.... It seems your service requires payment, sign up and then use is this right??? |
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how does that work? can you get ltc and ppc is is a sort of interface that can be put in a web site do you have an example? it looks like a modified node is still required to be run, my propsal involves no running of a node |
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the proposal  Are you sick of entering the same address into block explorers to check balance - Sick of figuring out price
- having to fire up qt /mult/ etc wallets to look at address, for BTC / LTC or PeerCoin to check balances
- see amount on each address
Do you want to be able to look at addresses and get sum and total sums Do you want to be able to use Tor Browser to keep it a bit more private I know I am!!!! So I am proposing to build what I have mocked up in the image above, Proposed design Spec - BTC
- LTC and
- PPC
- running total
- sum of each
- sum in btc of each
- sum in USD
- Total BTC equivalent USD
- Total USD equivalent
Code it from scratch, it may run a bit slow and "say no script" running but thats just the way it is atm. cost currently proposed 0.01 or 0.005 BTC or equivalent in LTC or PeerCoin each I will gauge interest ITT. |
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bump cant find might do myself if enough interest sum of each. sum in btc of each, USD value and total value |
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OP you got it wrong.
Tax cant be avoided. So one way or the other, you're gonna have to pay tax on profits/income
In fact this new ruling is great for bitcoin because it would filter out day traders as day trading will no longer be desirable as before. Most investors will want to have a long term capital gain. So whoever is buying btc today, its more incentive for them to hold over a year. Tax on short term capital gain is up to 43% opposed to 23% for long term capital gain.
Overall the market will be calm and stable.
tax can be minimized to near zero ask apple |
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could some one explain, when I send a transaction signed by my priv key my your address to a new address, the block solved as I understand it does exactly that.
So the block does not have to check every prior transaction for that transaction merely that you signing key validly works with the hash of everything else before which is everything before + you public address that the "coin" is on, and output I suppose sits on the public key, and this signed transaction, signed by your priv key is then combined with the new public address, and so on.
I feel I am missing something here, as all the prior transactions for that amount are needed in the blockchain but then what for? surely a block does not have time to check all prior transactions it has in them, and when I look at the diagram in satoshi's paper and each transaction appears to be composed of all the hashes before it discounted int into he last signed hash plus address.
Any explanation much appreciated
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They cannot print "In God We Trust" on bitcoins.
I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto. But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange. Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC |
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Bitcoin is supra national, China is not.
China needs bitcoin, not the other way around.
The Chinese govt will face riots in the street, and likely fall, if the people realise they have missed out on the largest transfer of wealth in history, and reduced to Fiat paupers for generations.
There are two classes emerging, and it not 1st world 3rd world anymore.
Class 1 = post BTC eg crypto holder
Class 2 = pre BTC eg no crypt holder
you may have noticed its becoming exponetially harder to go from Class 2 to Class 1.
within 10 ~ 15 years people will work a year and likely not earn a whole bitcoin, or a life time.
The Large financial institutions, will have credibility because they have provable reserves, then countries will only receive good credit ratings if they have BTC or other crypto reserves.
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At this stage UK by a country mile, watch the trillions flow to the city
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If I Acquire euro's with USD on my visa, or a pre loaded euro Visa card and the euro goes up, and I buy things, does this attract the same tax?
I would not say it is the same tax. Your gain through currency rates is taxable as ordinary income, or dependent on situation possibly taxed per form 6781 section 1256 for "currency contracts" which I believe is applicable for a lot of currency trading. To the best of my understanding, BTC is taxed in the following manner: Mining: You pay ordinary income tax on profits you get from mining. trading: You pay long or short term capital gains based on the profit or loss from the trade. More foundational though, the Govt has lost the right to Tax, this creation in this way or us. The Govt has lost the right to tax per se as it fails to provide sufficient quid pro quo for the Tax burden it imposes.
They didn't lose it, per constitution the government never had the right to tax income. However it has been doing it since the mid-early 1900s, and its not going away, though I would agree with you in that it is very difficult/almost impossible to enforce tax law on bitcoin transactions. All tax. |
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If you wish to opt in to taxation do so. If you don't don't.
Exactly. If I don't sign a contract in which I agree to do something for someone, then I don't have to do that something for someone. Be it paying money or working for someone. You don't sign a contract, you don't owe anything! You have grasped in this comment that what Govt's do is attempt to force you into a contract at birth. A contract with the whole state system. The excuse is you can politically change the system, by voteing or standing. The problem with this argument is you never agreed in the first instance to the form of the system, i.e. you never voted for that. And that keeps the large majority locked out. You never voted for the Constitution nor do you. You are free to move somewhere else No. The passport system makes is exceedingly hard to move anywhere. In any event why should we/I. I see no intrinsic right attached to any particle of soil by any law. We are free to declare individual sovereignty, before a pipe dream. Now via unsiezable wealth a reality. BTC tech is the means to form a distributed compact that says No. |
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If you wish to opt in to taxation do so. If you don't don't.
Exactly. If I don't sign a contract in which I agree to do something for someone, then I don't have to do that something for someone. Be it paying money or working for someone. You don't sign a contract, you don't owe anything! You have grasped in this comment that what Govt's do is attempt to force you into a contract at birth. A contract with the whole state system. The excuse is you can politically change the system, by voteing or standing. The problem with this argument is you never agreed in the first instance to the form of the system, i.e. you never voted for that. And that keeps the large majority locked out. You never voted for the Constitution nor do you. |
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Bitcoin is a currency, a commodity, property, a bundle of rights, voting system, proto DAC and more. Volatility is good as is speculation. None of this has stopped BTC being used as an exchange for goods and services.
The govt don't tax my use of visa card in this way, I suppose because the Visa card is a pointer to USD
If I Acquire euro's with USD on my visa, or a pre loaded euro Visa card and the euro goes up, and I buy things, does this attract the same tax?
In any event, the complexity of what the IRS propose and the nature of BTC as in you just can't establish who purchased what when means. Even if you could a coin eg zero coin or similar or add on feature will make this impossible from a technical point of view.
In the alternative a tax efficient way to get around this will occur. We with BTC can do things similar to Apple now.
More foundational though, the Govt has lost the right to Tax, this creation in this way or us. The Govt has lost the right to tax per se as it fails to provide sufficient quid pro quo for the Tax burden it imposes. And by Tax, invidious tax as well, eg the evaporation of wealth by massive quantitative easing and by over regulation of individuals in relation to production.
Bitcoin and that tech finally gives us a way to be free of much of Govt and gives an alternative more efficient form of organization. A Government of we, me, us, not them.
The elision of Sovereignty from the state to the individual is what BTC enables, in a way not thought or practically possible before. We have together proved that not only was no State needed but this could be done and has been done writ large in the balance book and now history. We thrive in tumultuous evolution.
Yes there are issues eg Gox, but there already solutions suggested to that with provable BTC reserves.
If you wish to opt in to taxation do so. If you don't don't. The Govt merely makes marks on paper and hopes by fear, force of arms, state sanctioned violence and misguided or self serving rhetoric they can obtain mass herd compliance, by the example it can make of the few. The Govt do this in the self righteous misconception that they are doing right for themselves and society. The reality is much of Government has slipped into a self serving, unworkable edifice that appears like a parasite killing its host, you, we us. BTC is the first part of the cure.
The US is fast writing itself into irrelevance.
What will a Govt do when BTC is 10, 100 or 1000+ times more than today. What asset class offers this reward. This in it self will break any system that attempts to stem the flow.
Stand by not being counted.
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So "CNY" is going through the FUD stage. Eventually people become immune to the FUD, it can take a year or 2, after they keeps selling cheap coins only to repeatedly buy them back a higher prices.
but thanks for the buying opportunity.
I also add any ban by China does exactly 3 things
[1] forces Chinese to buy Bitcoins later, higher when they are economically forced to accept and use BTC
[2] Lets the Chinese govt acquire a large stash of BTC and by GOVT I mean alot of officials
[3] gives cheap coin opportunity.
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I am kind of coming to this conclusion for conventional exchanges. But its not fatal
you just have a very short small exposure on any exchange at any time, so you can afford to loose that amount during the hack
get in and out of the exchange quickly with small amounts.
Cyprto P2P exchanges are on the way eg nxt.
also checksums that allow total BTC holding of an exchange will become the norm. Eg every person that send in BTC and withdraws will go through a set clearing addresses, so you can keep track of how much the exchange has.
This ensures you can tell if they have fractional reserve going on....though it does still not stop them from running off with an internal address, though it would make the claim that they have been hacked harder as you could see where the BTC was, they would have to convince you they had lost the private key.
A bitcoin tech based exchange will be much safer imho, and is the next step, even though they are no real P2P until they get the fiat side in as well.
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almost no fundamental invention is not used by the human race once discovered
fire
wheel
writing
maths
printing press
barter
gold
paper money
train
car
plane
rocket
ship
agriculture
electricity
IC
tcip
moder medicine
bitcoin protocol
so no. BTC protocol / crptos are here to stay
I'd go so far as to say the BTC protocol is one of the most significant inventions in human history, it offers self determination back to the individual away from the "group, gov, tribe, king etc, (always not you)"
essentially its elision of sovereignty back to the individual and a lot more.
While this is true, just to play a little devil's advocate, many of those technologies were improved upon. Someone built a better mousetrap if you will. I think crypto-currency or whatever you want to call it will be here to stay, the essence of Bitcoin. Whether Bitcoin will be the penultimate or just the beginning of something bigger, who knows. true its not necessarily BTC, but it will be a state independant crypto or a bundle of them |
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any changes....or does it need a larger market cap to effect change
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its only FIAT you can print more and it was, and you see massive dilution of USD value (yes your money)
Conversly one does not simply "lose" bitcoin, and even if you did the reminder just become worth more. Every bitcoin ever produced and be accounted for.
Nor Does one simply print more.
BTC can go well over 9 trillion
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almost no fundamental invention is not used by the human race once discovered
fire
wheel
writing
maths
printing press
barter
gold
paper money
train
car
plane
rocket
ship
agriculture
electricity
IC
tcip
moder medicine
bitcoin protocol
so no. BTC protocol / crptos are here to stay
I'd go so far as to say the BTC protocol is one of the most significant inventions in human history, it offers self determination back to the individual away from the "group, gov, tribe, king etc, (always not you)"
essentially its elision of sovereignty back to the individual and a lot more.
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