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1781  Other / Politics & Society / Re: Trump owns the Republican party on: March 09, 2021, 03:55:49 AM

So the CPAC went as you would expect, Trump in full authoritarian mode calling out his enemies (Repulicans who voted for impeachment) by name and telling his supporters to go after them in the primaries.
I find it weird for someone to describe someone trying to hold politicians accountable for their votes via the political process as "authoritarian". I thought it would be expected for voters to hold their elected officials accountable at the ballot box when elected officials vote in ways their constituents do not agree with.
1782  Other / Beginners & Help / Re: Crypto Tax Question on: March 09, 2021, 03:51:47 AM
Since you have to hold your crypto at least a year for it to be tax exempt

<>
I'm an American citizen in California<>
This is not true.

If you hold an asset for more than a year, any capital gains will generally be subject to long-term capital gains taxes, which are generally less than short term (<1 year held) capital gains taxes (generally are taxed similarly to ordinary income).

In general, you can use any capital gains losses to offset capital gains if you sell both in the same year.

I would suggest that you consult with a tax professional who is familiar with your individual tax situation who can give you personalized tax advice, rather than generalized tax information as you will find in this thread.
1783  Economy / Service Discussion / Re: Binance Savings on: March 09, 2021, 03:44:32 AM
Binance offers crypto secured loans that are structured similarly to how loans in the lending subforum work, the borrower puts up 1xx% collateral of one coin, and receives a loan of another type of coin.
For average users like you or me, then sure, we are required to put up collateral, but I would be surprised if Binance didn't offer preferential packages or rates, with reduced or absent collateral, for large business or institutional customers.
I'm sure larger customers can have access to reduced interest rates, but have doubts as to if they would be able to get unsecured loans absent some strong alternate form of guarantee such as a letter of credit, or loan covenants that can be enforced easily by binance.

It would be unusual for an exchange to give lenders a 'haircut' when a borrower is unable to fully repay their loans.
I don't disagree, and I also expect that if Binance suffered a loss they could absorb then they would do so, like they did with the $40 million hack back in 2019. However, the fact remains that there is absolutely zero requirement for them to do this, and the customer is accepting the full risk of loss. Any support Binance gives in such a situation would be entirely to protect their own reputation and profits, not because they are bound to assist their users.
I think this is usually the case with most exchanges and has been since bitcoin's early days. Even if an exchange has clauses saying that the exchange is guaranteeing against default risk in their TOS, most exchanges have been located in locations in which customers will have difficulty enforcing these clauses in court. Take MtGox for example, they filed for bankruptcy in 2014, and here we are in 2021, and their customers have still not recovered all available assets of Gox.

It is the Wild West in crypto land, and customers of an exchange should weigh the risks the exchange will be unable or unwilling to honor deposits with the potential for possible profit resulting from depositing coin on an exchange.
1784  Economy / Service Discussion / Re: BitfinexPay payment processor? on: March 09, 2021, 03:11:33 AM
It looks like this is basically a service that helps merchants keep track of which invoices were paid and which remain outstanding. If a customer pays too much or not enough, it will be up to the merchant to arrange to either refund the amount overpaid, or decide what to do with the amount paid that is less than what the merchant is due.
~Snipped~
You've made a good point but if I was the merchant in question, I would prefer an automated system in place for dealing with such issues...
- It has to be one of the main reasons for using such things [if it stays in its current state, it defeats its purpose to an extent].
Using an automated system to handle refunds means that you are increasing the 'temperature of any coin you receive via the payment processor. Automating refunds means a customer can potentially trick your payment processor into sending your coin to customers that maybe shouldn't receive it. It is also probably not uncommon for customers to pay too little, but will be willing to pay the balance later, and refunding customers in these cases would make little sense, the merchant should simply bill the customer the difference between what they paid and the total amount they owe the merchant.
1785  Bitcoin / Hardware wallets / Re: Steps To Take If You Believe Your Seed Has Been Found/Compromised? on: March 08, 2021, 05:45:36 AM
Well if i send it to any exchange it would be a legit exchange... coinbase or gemini or finance.
You might describe coinbase or gemini as "legit" today, but all exchanges that lose customer money are generally considered as "legit" before said losses. You can evaluate the risks the exchange will become insolvent, or otherwise not honor your despoit with the risk of the alternative if your seed is compromised.

Also i could send it to electrum but the thing is again, it is a program on your computer and you shouldn't keep much coins in it.  That is why a while back i moved it from electrum to nano ledger s.
Having a lot of coin on your internet-connected computer is superior to having coin on a seed that an adversary has knowledge of. You could move your coin onto your internet-connected computer and keep it there until you have a chance of creating a new seed/new private keys with more security precautions.
1786  Bitcoin / Hardware wallets / Re: Steps To Take If You Believe Your Seed Has Been Found/Compromised? on: March 08, 2021, 02:48:03 AM
Also would you send the whole balance at once or you try to break it into two or three transactions?
For privacy reasons right? You can split it if you want, but the more the transaction fee.
Creating/signing/broadcasting one transaction is going to take more time than it will to create/sign/broadcast two transactions.

If you have good reason to believe your seed is or is about to be compromised, you need to move your coin as quickly as possible. This is one rare situation in which, I would advise that if you don't have anything to hide, you should be willing to give up privacy for the sake of preserving the security of your coin. Keep in mind that if an attacker uses your seed to steal your coin, your privacy is lost anyway, along with your money.

As I mentioned above, time is of the essence to move your coin out of private keys that can be derived by the compromised seed. If you have an existing exchange account, moving your coin to that account may be a quick way to move your coin. There are risks to moving your coin onto an exchange, such as the exchange getting hacked (or "hacked") or your exchange account being compromised.

If you decide to generate a new address or new seed, you may decide to skip some safety procedures, including creating backups before using the private keys, in the interest of time. Which precautions you decide to skip is up to you, and you should weigh the risks of taking an additional minute to complete a precaution, and in that minute the attacker stealing the coin secured by your seed versus the risk of loss resulting from not implementing the precaution.
1787  Other / Meta / Re: Mysterious Deleted Thread on: March 07, 2021, 08:25:34 PM
1. Is there a chance Theymos saw the contents of thread 3? Internal settings of the forum.
Probably not. theymos registered his account several months after the thread would have been deleted.
2. Sirius or did Satoshi remove this thread?
It was probably satoshi. The first two threads were satoshi testing the forum, and the fourth thread was satoshi writing administrative notes on the forum's configuration.
3. I would like to know if there is a way to see which of the users posted messages in thread number 3?
Probably not.
Forgive me if my questions may seem stupid to you. I'm new at this.
I doubt this, lol.
1788  Other / Politics & Society / Re: #SuperStraight on: March 07, 2021, 08:19:54 PM
forcing a kid to question their gender.. is abuse
I would have to agree with you on this one.

Having a gender-neutral birth certificate is really just stupid, and there is plenty of time for parents to decide to accept their child's gender for what it is. Teaching young children that they "want" to be another gender is where the abuse is.
1789  Economy / Service Discussion / Re: Binance Savings on: March 07, 2021, 08:15:40 PM
As always with these kinds of services, I encourage users to take a look at the Terms of Service to see what they are actually signing up for. It is never just as simple as "Deposit your coins and earn interest". There is always a catch. Let's take a look:

When using Binance Savings service, you should note that:

a. Binance Savings assets will be used in cryptocurrency leveraged borrowing and other businesses.
So, the funds you deposit are given out to other users and third parties as loans. Lots of risk there from failed repayments, loan defaults, bankruptcies, scams, etc. "Other businesses" handily incorporates literally everything else in the entire world. They want to use your deposit to buy shares? They can. To buy property? They can. To YOLO in to some penny stock or shitcoin? They can.
Binance offers crypto secured loans that are structured similarly to how loans in the lending subforum work, the borrower puts up 1xx% collateral of one coin, and receives a loan of another type of coin.

You are right though, this language is very broad, and Binance could expand into other, more risky businesses while your coin is tied up in "activity".


And a little bit further down:

e. You agree that all investment operations conducted on Binance represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions.
You unconditionally accept the risks. If anything goes wrong, Binance hold absolutely zero responsibility for it going wrong. All the risk is on you. If an investment goes bad, Binance take zero hit but you lose your money. If a borrower doesn't repay the loan, Binance take zero hit but you lose your money. If the platform is hacked, Binance take zero hit but you lose your money.

There's an awful lot of risk there for very little benefit.
It would be unusual for an exchange to give lenders a 'haircut' when a borrower is unable to fully repay their loans. The last time I remember this happening was poloniex I believe in 2019, and this was because the losses exceeded their reserves. I believe it is most common for exchanges to have reserves to be able to temporarily take over margin positions until market conditions improve, and/or to cover losses up to a limit.

If lenders had to take a haircut every time a borrower is unable to repay a margin loan, the rates lenders would demand would be too high for borrowers to want to use the platform.
1790  Other / Politics & Society / Re: Joe Biden is President of the United States of America on: March 07, 2021, 08:00:32 PM
One of these days, he will slip up and answer questions, or someone in his administration will intentionally allow him to speak, and he will make a fool of himself, which will lead to the end of his time as President.
Bit of a double standard coming from a Trump supporter don't you think?
Trump would sometimes say stupid things, and would sometimes contradict his own administration. These are examples of Trump wanting to make everything about himself, and wanting to answer all questions, even if he didn't know the answer.

I think Biden will make a fool out of himself by showing just how little he is able to respond to questions when he doesn't have the answer on a script or a teleprompter. Biden will show how much of a cognitive decline he is in.
1791  Other / Beginners & Help / Re: POLL: Have You Ever Used the Lightning Network? on: March 07, 2021, 07:53:42 PM
1. It requires miners fee which is the fee require for bitcoin transaction confirmation. To open and close a channel, it requires fee.
This is probably the main reason why many people are not interested in testing LN. In terms of USD, the cost to open/close channels is very high.

I think LN has a little bit of a chicken/egg problem. While some merchants accept LN, most cyrpto-accepting merchants do not. With so few merchants accepting LN, there is less incentive to keep a lot of coin locked up in LN channels if they might want to spend their coin on-chain.
1792  Other / Politics & Society / Re: #SuperStraight on: March 07, 2021, 07:49:26 PM
So how does it work, do you ask for a birth certificate before engaging into any kind of coupling?
This will be insufficient in about 20 years. Several states allow for birth certificates to be gender-neutral.

I don't think it is unreasonable for someone to have a preference as to if their partner has ever changed genders.
1793  Other / Meta / Re: Should the Scam Accusations & Reputation sections be more restricted/moderated? on: March 07, 2021, 07:41:04 PM


I also don't think scam accusation threads are intended for casual reading. The purpose of these threads is to warn others and to put pressure on scammers to return stolen coin/property.

True, but there are tiny chances that threads like that can make the scammers return any money or property involved; and it's even worst if the transaction didn't take place within the forum.

The only good those threads does is to warn others or new investors, especially if the said company open up similar project or stuffs related. Searching in Google will link back to the post, therefore preventing another person from getting scammed.

So, instead of preventing newbies or users from posting, every scam accusation post should pass through series of scrutiny by a moderator before it is made public. The only disadvantage to this is that it is tedious, especially for the moderators.
It is pretty rare, but sometimes scammers will return some or all of the money they owe their victims. I think this is most common in cases involving late/defaulted loans.

If a scammer has a conscience, feedback from other community members in the thread may persuade them to return the stolen money.
1794  Other / Politics & Society / Re: Joe Biden is President of the United States of America on: March 07, 2021, 07:35:43 PM
...

His own administration won't even let him answer any questions.

https://www.youtube.com/watch?v=f-BOjz4f5zU

He said he'll take questions if "that's what I'm supposed to do" and the feed cuts off lol.

Say what you want about Trump's rambling incoherent press conferences, but the great thing was, he'd always answer heckling reporters without a filter. So even if he didn't have a "formal press conference", he'd tweet out his foreign policy on twitter and have an exchange with reporters every now and then, so it's not like anyone was out of the loop on the things he believed.

I saw that and it is quite sad that our President cannot take questions from a friendly audience.

I think Trump probably talked to the press too much, and as you said, didn't have a filter. Trump should have let the experts do the talking in his press conferences, rather than make everything about himself.

Biden is not talking to the press nearly enough. All of his appearances are carefully staged and scripted. One of these days, he will slip up and answer questions, or someone in his administration will intentionally allow him to speak, and he will make a fool of himself, which will lead to the end of his time as President.

Senate democrats pass the 1.9 trillion dollar covid relief package in the senate. Party line vote, 50-49. Calls for numerous expenditures, but most notably the 1400 dollar stimulus checks and 300 dollar/wk unemployment checks. Also gave states 350 billion in aid with some funding for vaccine programs and ACA subsidies. So, who wants to guess what this will do to the inflation rate? It seems there is this notion that instead of reopening local economies and letting businesses operate, printing money through short term stimulus checks will solve the issue. The problem is, you end up having to repay the "debt" you create when you print this money at some point or another.
This is really not a covid aid package, it can be more accurately described as a 1.9 trillion dollar democrat pork package with a little bit of covid aid inside.
1795  Economy / Service Discussion / Re: BitfinexPay payment processor? on: March 06, 2021, 06:10:21 AM


Apart from the KYC part, I didn't like the following things as well:

If the payment is marked in your account as a normal deposit, this means that the customer paid an amount different from the required amount. It is entirely up to you as to how to arrange refunds to your customer.

~Snipped~

**Note that if your customers do not agree to the Bitfinex Pay End User Terms of Service, the funds will be deposited to your account as a normal deposit and the status of the invoice will stay as “Created” even though the funds have been deposited to you. In this case, you should arrange for a refund.

***According to Bitfinex Terms of Service, we will be unable to offer services if your customer is from a Prohibited Jurisdiction or is a Prohibited Person.
It looks like this is basically a service that helps merchants keep track of which invoices were paid and which remain outstanding. If a customer pays too much or not enough, it will be up to the merchant to arrange to either refund the amount overpaid, or decide what to do with the amount paid that is less than what the merchant is due. If a merchant is due $500, but receives $497, they can decide to either accept the $497 as the full amount or refund the amount received if they don't receive the additional $3. It doesn't sound like bitfinex is interested in mediating customer disputes, and this is probably true for most crypto payment processors.
1796  Other / Politics & Society / Re: Fate of $15 per hour lies in the hands of the Senate Parliamentary on: March 06, 2021, 05:56:24 AM
Update on the minimum wage - 15 bucks an hour thing is not going to happen. Congrats to small businesses in the US. You can thank a few brave democrats for that: https://www.newsweek.com/joe-manchin-slows-covid-19-stimulus-bill-passage-over-unemployment-benefits-1574187
The unemployment stipend will also be 300 dollars per week oppose to the 400 per week Biden promised. So it seems a few moderate votes in the senate are what will force some compromise. Joe Manchin seems to be getting a lot of hate for watering down the relief bill.
From the looks of it, $15 minimum wage is simply not happening, at least a government-mandated $15 minimum wage (a market-based $15 minimum wage is already in effect for many labor markets).

I also believe that Pelosi is much better at whipping votes than Schemer is. Part of this is due to the fact that there are very few "safe" senate seats for either party, and part of this is the 6-year terms Senators have -- leadership today may be different from leadership in 6 years, which makes it more difficult to bully Senators, even if they will be facing a primary in the coming election season.
1797  Other / Politics & Society / Re: Joe Biden is President of the United States of America on: March 05, 2021, 05:13:26 AM
Reparations could come in the form of healthcare/education/housing.  They aren't necessarily cash payments.

It is not logical to provide healthcare or education based on the skin color.

I don't think it would be based on skin color since not all black Americans have slaves in their family history.  For example, Obama wouldn't qualify under the proposals I've seen, since neither of his parents have any connection with anyone in the country when Slavery was legal.  (his father was born in East Africa and Mother Hawaii).
Reparations today are an all-around bad idea. First of all, there were over 750k Americans who died in the Civil War that was fought for the underlying purpose to end slavery. Secondly, anyone not on the receiving end of reparations had nothing to do with slavery, and their current financial status has nothing to do with slavery. Third, the descendants of slaves current often poor financial situation has less to do with their ancestors status as slaves, and more to do with their current voting choices.
1798  Bitcoin / Project Development / Re: Presage AI : Market forecast on: March 03, 2021, 06:11:14 AM
Your website claims to have 94% accuracy. It doesn't specify the metric or methodology that caused you to come to this conclusion, but this sounds phenomenal. If this could be translated into auc of 0.94 for investment choices, your model would be very valuable.

With that being said, I think it is more likely you are either using flawed methodology, or some of your training data is leaking over to your test data, causing overfitting on your test data. Your testing procedure may also be otherwise flawed. I would encourage you to review your training and testing procedure, and re-evaluate your claimed 94% success rate.
1799  Economy / Reputation / Re: Sportsbooks - Industry Standards, our importance and inflated sense of authority on: March 03, 2021, 04:31:15 AM
TBH I don't think multiaccounting matters outside of bonus abuse -
Sportsbooks have betting limits that can potentially be evaded via multiaccounting. Wager limits are put into place in order to reduce the likelihood that betting will become too one-sided such that the sportsbook stands to lose if there is a particular outcome.

They can adjust the odds until it's no longer one-sided.
If a sportsbook expects to have a total of $1000 wagered on an event that is roughly even money odds, if someone bets $10,000 on one side, the sportsbook would need to adjust the odds in favor of the other side so much in order to attract enough bets, that they would end up losing money regardless of the outcome.

Betting limits are a function of a projection of the total amount that will be wagered on an event.
1800  Bitcoin / Development & Technical Discussion / Re: Help with info running a full node please... on: March 03, 2021, 03:27:09 AM
I’m curious to know if I could CONFIGURE with the iPad or if I would need a real computer.
iPads will only allow you to install software from the Apple Store, and to my knowledge, there is no full node software in the Apple Store. If you were to jailbreak your iPad (generally a bad idea), I don't believe Bitcoin Core is compatible with the iPad iOS.

To answer your question in the OP, the minimum requirements to run a full node is listed on the bitcoin.org website.
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