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2941  Bitcoin / Bitcoin Discussion / Re: Coinbase Called Out on Twitter for Working with IRS and DEA on: June 11, 2020, 11:32:38 AM
As far as I know, even in the past, using coinbase or any exchange/ custodial wallet isn't a safe place to store bitcoin or any other altcoins as they are taking away your power to use bitcoin independently. It is definitely defeating the purpose of having a financial sovereignty at the first place. It is exponentially better to create your own wallet with seed phrase written on a piece of paper rather than entrusting your coins to a "third party"

Also, I fear that at some point they are going to tax cryptocurrency holders  Huh
 
2942  Bitcoin / Legal / Re: Selling bitcoin for paypal. Do I need a license to do this/ need tax advice. on: June 11, 2020, 10:50:15 AM
~snip~
If people ran their lives on the 'advice' given out on here they'd spend the rest of it breaking rocks under the hot sun in chains. Have you failed to notice that everyone now has to declare to the IRS whether or not they have crypto dealings whether it's taxable or not? and it most certainly is taxable if enough profit is involved. Even if there's no profit you have to tell them you've touched it.

I would give a Paypal account with those volumes 24-48 hours before it's frozen and questions are asked. And if you're in the US you might well fall under the definition of a money transmitter. You're providing an exchange service in the eyes of the law.

It may well be fine if you stay under the radar but ignorance is no excuse.
Thanks for the advice @gentlemand. I didn't immediately recognized that paypal is somehow controlled by law and has the power to suspend their services to people and report them to IRS. What else he can do?

Moreover, our country also declared tax to online businesses amidst pandemic. This may be a good measure to decrease fraudulent activities but it will never be a good idea to impose to smaller online merchants.
[1] https://www.gmanetwork.com/news/money/content/742065/bir-requires-online-sellers-to-register-business-declare-past-transactions-for-tax-purposes/story/

I apologize for being ignorant.
2943  Bitcoin / Bitcoin Discussion / Re: Again, another renowned exchange went offline... on: June 10, 2020, 02:00:24 PM
We also have a similar local cryptocurrency exchange that holds bitcoin and several altcoin wallet. Unfortunately, when bitcoin price soar, there is always a frequent maintenance on their side which results to having difficulty of bitcoin to altcoin or crypto to fiat exchange and vice versa.

What do you expect from having these type of businesses? We're dealing with crypto and manipulation is not surprising. Leaving only a small amount of crypto on day to day transaction is still the best practice to avoid such kind of fraud.
2944  Local / Pamilihan / Re: LENDING SECTION HERE (Mores Funds Available - Wanted Borrowers! on: June 10, 2020, 01:41:56 PM
~snip~
Sinend ko po ngayong today ay 0.005bitcoin using coins.ph.
Reference Id: g01eaf5aq30f

My remaning balance is 0.004
Confirmed! Clarify ko lang po kuya kung kailan yung remaining balance?

~snip~
I will pay today my remaining balance saan po isesend pahingi po ng coins ph bitcoin address. Thanks.


Edit: remaning was sent already please confirm.
Reference no: g01e9z954e1t
Confirmed! Fully settled. Thank you so much!
2945  Economy / Gambling discussion / Re: UK rules will hit loot boxes games hard - as they’re turning kids into gamblers. on: June 10, 2020, 01:09:10 PM
You spend cash to get fake currencies to receive in-game weapon skins or decals through a mechanism similar to gambling.. and can't even cash out.
Business is business I think! These are the strategies of the company to increase their sales. It is more likely a psychological play wherein buying those upgrades or loot-boxes make kids feel a lot cooler and stronger.

It would be better to install apk modded application with lots of money in an old device to decrease chances of getting malwares. This is only applicable for kids who are into gaming. International strategy based games such as DOTA, LOL, MMORPG that is usually played by adults are impossible to control.
2946  Bitcoin / Legal / Re: Selling bitcoin for paypal. Do I need a license to do this/ need tax advice. on: June 10, 2020, 04:44:42 AM
In this transaction there is no fraud completely trusted individual. Since I am sending $4750 in BTC and receiving $5000 in paypal I would only need to pay taxes on the $250 prrofit I receive per day, correct?
The profit is all yours. You do not have to worry about paying taxes since the Internal Revenue Service (IRS) is still not giving an official statement about taxing or regulating bitcoin in general. You only need to worry about is the transaction fees you will be utilizing upon sending your bitcoin from his/her bitcoin wallet.
2947  Bitcoin / Legal / Re: Selling bitcoin for paypal. Do I need a license to do this/ need tax advice. on: June 10, 2020, 04:23:39 AM
You do not need to worry about tax issues or any government related terms and condition other than transaction fees. However there are some countries that eyes bitcoin for having such taxes but still no government accomplished to regulate bitcoin as of now. It is still in gray zone.

Moreover, if you are selling bitcoin using localbitcoins then you are going to undergo KYC in order to use their services. In your case, the only thing you need to worry about is that the person you are transacting with is not a fraud.

2948  Economy / Gambling / Re: 🔶 YOLOdice.com 🔶 play&invest, now with .ONION address on: June 10, 2020, 03:34:16 AM
Just want some clarification regarding chatroom.



[1] Why are they being rewarded by a bot even though the question and answer portion have been concluded ? Is it because they are active in the community ?
[2] If I am not mistaken, the bot starts the Q and A portion randomly right ?
2949  Economy / Gambling discussion / Re: GAMBLING SITE INVESTMENT on: June 08, 2020, 12:11:03 PM
Thanks Yatsan for sharing your profits with us. Personally I am hesitating so much to join, I sometimes stay 1 click away from joining then says, let's wait a little bit.
I can vouch for Yolodice! The signature we're wearing.

It's interesting to see people became hessitant when it comes to investing. To be honest, that is the same feeling I have experienced before but then I managed to invest our sig camp payout only for a few days to experiment and to see how the system works. Unfortunately, I withdrew it immediately after the negative ROI gains at least a small percent of positive return. Thus, planning for a long term investment must be considered probably 6 months or 1 year not 4 days Cheesy

But soon, I'll try investing again.
2950  Bitcoin / Bitcoin Discussion / Re: Pablo Escobar and Bitcoin and Satoshi Nakamoto on: June 08, 2020, 08:04:58 AM
There are lots of rumors and conspiracy who Satoshi really is but none of the proves their claim. Talking about the real identity of satoshi is truly a great entertainment but it doesn't mean that we need to force ourselves in disclosing an identity of a person who doesn't even want a spotlight  Wink.

In fact, satoshi can be an alien, man, woman, a company or a non-binary. Again, it is entertaining but it will never shed some light.

More info here:
[1] Who is Satoshi Nakamoto ? Suspects, frauds and conspiracies on bitcointalk
2951  Bitcoin / Bitcoin Discussion / Re: Mycelium Entropy and the best paper wallet generation on: June 07, 2020, 01:53:08 PM
I own a mycelium entropy and do not have a printer with a USB port to print out the paper wallets.
Does anyone know how to print out using it on the USB port? I gave tried...but with no luck.
I did not use Mycelium entropy before but as I see it, using Mycelium Entropy without being connected directly to the printer will defeat the purpose of this USB. Mycelium entropy was designed to produce a randomly generated keypair when it is connected directly to the USB port of the printer. Also, the generated key pair is not stored in the USB, so when device has been ejected the key pair is automatically lost, which makes it ideal to produce your private and public to ensure that the keys are not compromised.

Also, where can I get the best and safest paper wallet generated software?
So far this is the most accurate guide I have seen on the internet.
[1] https://coinsutra.com/make-bitcoin-paper-wallet-spend-bitcoins/
[2] https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch04.asciidoc - paper wallet generation is found on the last page.
2952  Other / Beginners & Help / Advisable Approach To Study bitcoin on: June 07, 2020, 11:58:16 AM
Greetings Everyone,

We are all aware that cryptocurrency is a vast subject and it is obviously difficult to grasp all the terminologies and concept embedded from the works of an unknown creator "Satoshi" only at a short period of time. Cryptocurrency specifically bitcoin is a multifaceted asset whereas some people considered it as a speculative tool to become rich in terms of economic aspect, some treat it as a revolutionary invention that combines the use of distributed system and cryptography, others uses bitcoin to attain financial sovereignty in respect to politics. Hence, educating oneself apropos to these matters are overwhelming in which a neverending study awaits you.

I understand that choosing a particular subject in cryptocurrency that suits your interest is a must, but, What are the proper practice in order to understand the subject in a chronological order? What are the different approach to make sure that the knowledge is intact in the long run? How do you study the subject in a time efficient manner? Any opinions or tips?

*Be concise Cheesy*
2953  Economy / Service Discussion / Re: New stupid/greedy move from Brave Browser on: June 07, 2020, 02:45:21 AM
I am an avid fan of using Brave browser from my laptop and Android phone but it seems they broke their stated mission at the very first place.

Found some ironic comment from Brave:

We're making changes here, but just to clarify, this feature was inline with similar behaviors in browsers for quite some time. Default search deals and more; 10 years ago Stack Overflow experimented with affiliate link-rewriting (we didn't go that far). But, we're reverting.

They also manage to put referrals from ledger, coinbase and trezor:
https://github.com/brave/brave-browser/issues/9302
2954  Bitcoin / Bitcoin Discussion / Re: Do we know what is the biggest time difference between blocks? (Since 2009) on: June 06, 2020, 09:16:15 AM
Oh my god. 1 whole day? What did happen? No miners that day?
Same question!

Quote
The longest difference between successive blocks is 463160 seconds (5 days, 8 hours, 39 minutes, 20 seconds) between blocks 0 and 1
This is the Genesis block that was broadcasted in the bitcoin network at the timestamp of January 3, 2009. According to bitcoin wiki, there is some speculation that satoshi did not bother mining it until January 9 or satoshi spent the entire 6 days mining due to low hashrate.

Although the average time between Bitcoin blocks is 10 minutes, the timestamp of the next block is a full 6 days after the genesis block. One interpretation is that Satoshi was working on bitcoin for some time beforehand and the The Times front page prompted him to release it to the public. He then mined the genesis block with a timestamp in the past to match the headline. It is also possible that, since the block's hash is so low, he may have spent 6 days mining it with the same timestamp before proceeding to block

I was also surprised!
2955  Economy / Gambling discussion / Re: "NEW NORMAL" Betting on: June 06, 2020, 04:00:07 AM
It would be nice if you are going to spend your leisure time studying players, team etc. to get an upperhand when it comes to the newly implemented "new normal betting". Vaccine is still in a grey state and there is nothing we can do but to adapt the new system.

Tickets and merchandise will surely be affected but that doesn't mean there is no alternative. In fact, we have the internet for broadcasting, online selling and sports betting to make these possible. It is just a matter of precautions in order for our health to not get compromised.

2956  Economy / Gambling discussion / Re: Manny Pacquiao Might Fight Golovkin on: June 06, 2020, 02:58:16 AM
IMO, even if the fight will take place at 154 lbs, Manny would still lose as GGG will be too big for him though a little slower than Manny but he is a heavy puncher and a single punch from him would slow down Manny. I'm a Pacman fan and personally i don't want this fight to happen as this would damage Manny's health.
Coudn't agree more! Manny admitted that the fight between him and Margarito is a rugged battle -- what more if his next opponent would be Gennady which I think is too much for Manny at this time.

Still, the age difference, height and Tripe G's only one loss from Canelo is a huge risk in Manny's winning percentage. If this happens and Manny manages to win this fight, I would consider him as the "Greatest boxer of all time".
2957  Bitcoin / Hardware wallets / Ledger water resistant backup paper on: June 05, 2020, 03:53:20 PM
It looks like Ledger has something for us to improve the resiliency of our paper back up. Too bad! I bought my hardware wallet at an early date  Cheesy.
[Twitter] https://twitter.com/Ledger/status/1268810543663628288?s=19

2958  Bitcoin / Bitcoin Discussion / Re: where are private keys stored? on: June 05, 2020, 03:24:03 PM
Technically, they are not stored in the bitcoin network but rather in your bitcoin wallet, it is the only software who stores your key pair which are your public keys and private keys that allows you sign a transaction in the bitcoin network.

Keep in mind that if it is stored in your PC, you might consider that your private key is now compromised. In your case, if it is an online wallet, then it is more likely that that wallet in not holding your private keys which is not a good indication to store a large amount of BTC.
2959  Local / Pilipinas / Re: Pano mag Sign ng Message Gamit Ledger Hardware at Electrum on: June 04, 2020, 02:39:15 PM
Isa sa mga dapat mong isaalang alang ay mag download ka ng bagong update ng Electrum dahil sa mismong page nila ay may nakalagay na warning:
Yes! But it doesn't mean na updated eh free ka na din from getting phished. That is why it is crucial to make a habit verifying the Electrum developers pub_keys before downloading.

[1] Mac Os
[2] Windows
[3] [GUIDE] How to Safely Download and Verify Electrum [Guide]
2960  Economy / Gambling discussion / Re: PAGCOR waiting for the approval to reopen land-based casinos. on: June 04, 2020, 02:12:56 PM
The mass testing? where is it now?
Our government are making some progress now, the medical laboratories are improving and the mass testing is advancing as well. There is no need to feel uncertain since the situation is now being under control.

They are more focussed on this "balangay" as a national shit right now that they focus more on rather than the real problem that the country is facing. I think I am a terrorist right now.
Just curious, are you are Filipino? It seems that the news is scattered in every social media platform. The masses are making a move in signing a petition to the "Anti-Terrorism" bill. I wonder if its just a move to contain people.

As per the PAGCOR issue, as I see it, there is nothing we can do but to obey and mind our own business if you are going to gamble or not. If you are seriously taking precautionary measures in avoiding the virus, then do not bother gambling outside your house; otherwise you are also seriously risking your life over enjoyment.
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