Address reuse could lead to security issues in the future, if quantum computing ever gets viable. Before you make your first transaction from an address, the public key is unknown, due to the address being only a hash of the public key. The public key becomes exposed by necessity the first time an outgoing transaction is made. Using this public key, a quantum computer could in theory derive the private key of the corresponding address.

However, at this point in time, this is all just theoretical.




The key space of Bitcoin is in the orders of magnitude that make it practically impossible for duplicate keys to occur. There's even projects like the large Bitcoin collider that has already been going through trillions of private keys without finding anything (expect for purposefully placed bounties).

So for every Bitcoin address you don't use... thousands are generated and discarded every second.

And don't worry about taking up room in Bitcoin's key space. Private keys are generated at random, any address you have could be used by someone else in the future, just by chance of that person generating the same private key as you. However as I mentioned before, the chances of this happening, is practically impossible.

GBP 500,- unfortunately won't get you even close to a viable ASIC miner for Bitcoin. Sometimes older hardware is peddled on eBay that could fit into this budget, but those devices are already so obsolete that you can only use them as a doorstop.


...where the hell can I get 6 graphic cards, that are viable for mining alts, for GBP 500,-? O.o

That's maybe 2-3 GPUs. And not accounting for mainboard, PSU, etc...


While true that alt coin mining is the only close to viable option with this budget, it's still unlikely to make you much of a profit. Unfortunately economoics of scale is key nowadays. Besides cheap electricity, of course.


If you want to take up mining alts as a hobby however, I'd recommend starting in the alt coin mining boards:

https://bitcointalk.org/index.php?board=160.0

There you should find information on what you need to get a GPU mining rig going.

Your assumption seems correct.

The final balance of 3EL14BoZCDXBmV65uCGAawXAZZxvnvZwN7 is 0.10993723 BTC.

The Cryptopay balance of 0.0929 BTC fits the transaction of November 2nd.

The two transactions of 0.0038 BTC in and out, sent on August 23rd and September 8th respectively, cancel each other out.

Which leaves 0.017 BTC sent on October 27nd unaccounted for.


Got any response from Cryptopay so far?

People are in it to increase their purchasing power. The main reason why the BTC price is most commonly referred to in fiat value, is because it's the only meaningful frame of reference we have right now. What other frames of reference are there? Gold? Lamborghinis? Pizzas? One of the main purposes of fiat is to compare the value of assets of different classifications to one another. BTC is no different in this regard. It's about the purchasing power of BTC, not its fiat value. And as of now, its purchasing power can only be meaningfully expressed in fiat.



I'm not 100% sure we're in a classic bubble yet. Noobs will panic the most, for sure, but I think most bitcoins are still in the hands of the old guard, which should bolster the next correction a bit.



Banking is the most destructive force on the planet. Never in history there has been anything that just wasted such an amount of human resources. Just think of the millions of bankers that were not educated to become doctors or engineers, no, just wasted on finance.

In my opinion replacing the human resources that are currently stuck in banking with electricity would be a positive tradeoff.



Arguably Bitcoin will become more stable once it reaches a sufficient market cap. Retail prices also fluctuate to some extend, yet there's only few cases where people try to time the market, especially with products that satisfy immediate needs.



Agreed. Well, some alts arguably offer innovation, but in general I agree with you.



Agreed. Same goes for the rest of finance though, regardless of regulation. Bitcoin itself, however, is incredibly transparent.



Define bad money? Noobs or bankers?



0.0000000000001% of the people would be less than 1/10,000th of a person. I'm fairly confident to say that there are more people using BTC than 1/10,000th of a person. The question of a fair valuation is a tough one though, that's true. Which is why we are seeing the price fluctuations we see right now. It's all part of the price finding process.



Crypto-currencies can be used freely regardless of their valuation. Without tokens, a blockchain is just a decentralized database. There's better solutions for that.

This thread is from December 2011, BTC hovered around EUR 3.00,- at that time so it's not an arbitrary figure. The tax was on the imported item, not on BTC.

Still interesting to see government entities treating BTC payments in a sane way as far back as 2011, at least in individual cases. I think the only incorrect call was that the officers apparently chose the BTC price on delivery of the item, not at the time of the sale. Still, not bad for 2011.

I love how people are getting worried about how Wall Street could tarnish Bitcoin's reputation. And rightfully so, unfortunately. Oh how times have changed.

It looks like the Bitcoin experiment is entering the next phase, let's see how it prevails.

My positive thinking side thinks it's great that there are finally financial derivatives to hedge crypto risks. My realistic thinking side is moaning at the thought of investment bankers having found yet another gambling playground to lose other people's money in while claiming to be experts in their field.

You're welcome. For privacy reasons I won't be sharing my personal tax advisor, but I can refer you to Mag.(FH) Natalie Enzinger:

http://www.enzinger-stb.at/steuerberatung/index.php/en/

I don't know her personally, but she's the one that did the tax situation analysis for Bitcoin Austria and appears to have a focus on crypto-currencies.

Good luck out there! Feel free to PM me if you need further information sources that are hard to find for non-German speakers.

Don't worry, there's enough taxation on pretty much everything else

Also if you do day trading, sell Bitcoin before the minimum holding time, earn it via mining or selling goods and services, regular taxation still apply. This tax exemption after a minimum holding time used to apply to securities as well. There's no exemption for securities anymore, however bitcoins are no securities, so here we are.


For future reference, here is a more current, official statement on cryptocurrency taxation in Austria:

https://www.bmf.gv.at/steuern/kryptowaehrung_Besteuerung.html

German only, unfortunately, but I can tell you that as of July 25th 2017 the tax exemption on private sales after a minimum holding hodling time of one year still applies.

https://www.lifewire.com/free-data-recovery-software-tools-2622893

I personally had a good experience with Recuva, however I luckily didn't have to give any of the other tools on this list a try, so your mileage may vary. I remember another Bitcointalk user having success with easeUS though.

Germany and Austria both don't tax Bitcoin sales after a provable holding time of at least one year. I don't know anything about Denmark.


Of Germany I know due to following the German local boards.

Of Austria I know due to living in Austria, having talked to my tax advisor and having done research on the subject matter using trusted sources -- ie. detailed analysis from tax advisors hired by the Austrian Bitcoin community and government statements.


To the best of my knowledge, tax policies regarding Bitcoin and income tax have changed neither in Germany nor in Austria since 2014.

If you sell Bitcoin as a private individual and not a company, there's no sales tax in Austria. I don't know the situation in Germany in this regard, but it seems to be similar.

I guess as neither German nor Austrian resident nor citizen, the challenge is finding a way to get "taxed" in either country, without falling into any regulatory edge cases where you need to pay tax after all.


Caveat: While I feel fairly confident about my knowledge of Bitcoin taxation in Austria (and to some extend Germany) I have no personal experience of converting amounts of 100k and above. I hope I could give some helpful inputs either way. Be aware that certain regulations may apply to SEPA bank transfers of ~10k and above, requiring you to notify authorities and possibly your bank(s) of said transactions. In Germany there's the "AWV Meldepflicht" for transactions of 12.5k and above, I'm sure there are similar regulations for other EU countries.

Steep? Trezor preorders used to cost 1 BTC

In all seriousness though, as someone who's happy with his current Trezor and as someone who sees hardware wallets mostly as an utility it's more than I'd be willing to pay right now. Nonetheless, given the major overhaul the Trezor received and its proven track record in earlier versions, it does look like a fair price to me. And I must admit that I am tempted after all.

Have you installed any alt coin wallets or otherwise, possibly questionable software lately? Problem being that malware that isn't "off-the-shelf" often avoids detection by most antivirus software. To be honest I'd consider wiping my hard drive and re-installing my operating system at that point.

Unless someone else you know had direct access to your device I'm afraid those coins are gone for good.

Great idea! Will you have it published and printed as well or do you plan on releasing it as an eBook / PDF only? Most alts are not really worth writing about, but a compendium of alts, even those that fell on hard times lately, sounds definitely interesting. Especially since even if you keep a keen eye on the alt market and its development, it's nearly impossible to keep track of them. And at least to me it seems that a lot of once -- or currently -- respected alts will fall victim to time and shifting community interests sooner or later.

One thing I'm wondering is why you didn't add Ripple? I'm aware that its classification as a crypto-currency is heavily disputed, but nonetheless it's one of the earliest projects in this space and deserves a place in history, despite all its flaws.

I'm kinda bothered by how in the big chart widget the chart line covers up the price. While it's refreshing to see something more playful, that part of the layout doesn't look pleasing to me. I'd probably try switching price information and chart line, ie. having the chart line in the background, with the price information hovering on top. But that might be a matter of personal taste.

What I really like is the ticker widget. Having the hourly / daily / weekly price change on one page gives a way better picture than what you usually see. The reddit ticker is also an interesting metric.

All in all good work so far! Looking forward to see how you further develop this project!

And yeah... I'd also recommend reconsidering the name. It's kinda hard to remember when you can barely distinguish how many "n"s there are. Would be a shame if this site missed out on traffic due to its domain name.

In my book hardforking Bitcoin is a valid way of "letting the best coin win". Camouflaging SegWit2x nodes to prevent SegWit1x nodes from disconnecting and refusing to implement a 2-way replay protection however, is not. That's just a reckless way of forcing a coup.

Their goal of increasing block size can not be accomplished without a hardfork, that's true. It could be, however, accomplished without the questionable design choices mentioned above.

The Czech Republic is the birth place of mining pools and home of SatoshiLabs, creator of the Trezor -- the first hardware wallet. So I think there are at least some people who are active users of cryptocurrency in the Czech Republic

Oh boy do I have some reading material for you!

https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-building-a-bidirectional-payment-channel-1464710791/

This 3-part introduction explains lightning network fairly well. Read it, let it sink in a bit and come to your own conclusions.

Consensus based on node count is prone to sybil attacks and miners should not be able to unanimously change protocol rules. Public discourse failed to reach an agreement on what makes a better network. So the way I see it all that's left is to put each fork to the test and let the free market decide.

Please let me know what I'm missing here. I would truly love to understand your side of the argument.




Attacking either side of the fork based on the people behind it instead of their individual merits and weak points is not going to lead anywhere.



*you're 



What are you referring to? SegWit more than doubled Bitcoin's transaction capacity, the equivalent of a 2mb blocksize increase.

Apart from that what's stopping you from simply using Bitcoin Cash instead? It's fairly well supported and if you already owned Bitcoin before the fork you didn't even need to put money into an alt to make the switch.

That's an overly simplistic way to look at the value Amazon, Microsoft and Apple have brought to our daily lives.

Yet I agree with you. Bitcoin is the first technological innovation that has genuinely excited me in years. It's a bizarre little system and kinda fucked up from a mainstream point of view, but that's exactly why it is so unexpectedly gamechanging. It solved a problem that most people weren't even aware of exists. In a way that most people didn't expect to work. Yet here we are.

Seeing how people got hyped by the next gen iPhone while utterly ignoring crypto-currencies I always got reminded of the apocryphal Ford quote: "If I had asked people what they wanted, they would have said faster horses."

I'm not sure what to think of applying the concept of index funds to crypto. On one hand it's a great way to provide an investment vehicle to traditional investors. On the other hand it leads the concept of decentralized money at absurdum. But I guess that's mostly a question of personal preference and there's obviously a market for such a financial product.



Quite interesting. Not sure what to think of them rebalancing monthly though. That seems like an excessively long time frame for something as fast paced and volatile as crypto. It will be interesting to see how they fare in a bear market.