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321  Bitcoin / Bitcoin Discussion / Re: Exit strategy BTC cash out (or any other crypto) without pay capital gains taxes on: March 16, 2024, 09:42:17 PM
Simple strategy: Move to a country like Montenegro or El Salvador for 9-10 months and establish tax residency there.
~snip~

I personally would not go to countries where the security situation is not the best, and Montenegro is certainly one of those countries, considering that it is an extremely divided country with great national tensions that can escalate into civil war at any moment. As for El Salvador, regardless of the fact that Bukele allegedly cleaned the country of gangs, you still need to be careful and choose safer (more expensive) places that are not as cheap as some people think.

You can dodge the 180 days mandatory stay in Montenegro by registering a company there and providing proof it's your only one, pretty easy to do since you won't be running any other company in this case and that's it, you can get out of the country the next day take the crypto profits, and if you want to get rid of all the taxes owned in Montenegro for your company then with a bit of accounting I'm not going to recommend to anyone just ...hmm, bankrupt the said company to ..another one and I'll stop here. Nobody will come after you but it would still be not fully legal if I might word it this way.

As for selling BTC without paying tax, there are some physical exchanges in some EU countries where you can sell (for now) around EUR 1000 worth of crypto per transaction, and theoretically if you visit several such branches in one day, you could quite legally sell crypto in worth several thousand EUR. Consider that the fee for such a service is about 5% or more.

So, just to make sure, we're talking about dodging taxes and avoiding them here, not  tax "optimization", right?
Cause you can exchange your coins for fiat without the tax department knowing about it, but the moment you buy a 500 000 euros house with a  600 euros wage in the last 10 years all that has been for nothing. Plus, with the rules on limits for cash-only fiat payments in the EU you'll have again trouble spending huge amounts as each bank will ask you where you got that cash.


Right. Saylor's idea of borrowing against your Bitcoin is gaining popularity. You can use your Bitcoin as collateral to get a loan without selling it and triggering taxes. If Bitcoin's value goes up, you can refinance or pay off the loan, and if it goes down, you can add more Bitcoin to avoid issues.

Yeah, unless you run out of it, Luna and Celsius style!
322  Bitcoin / Bitcoin Discussion / Re: Mempool Observer Topic on: March 16, 2024, 04:39:57 PM
I just watched the last few days, price drop + low fee and thought maybe the fee could go below 10 sat/vB. Maybe at some point during the weekend, but he certainly won't come to 3 sat/vB.

90vMB of fees on top of the 3 sat/vb ones, you would need 2/3 of a day with no incoming fees just to reach that, close to impossible even for the weekend.
Besides, I assume that going below 5sat/vb would trigger another wave of consolidations just like the 10sat/vb wall did, one week with no events, an increase in block speed back to at least normal (we're currently 22 blocks down the pace), and another weekend and we might reach it.

Still, surprisingly we had one huge spike in price, ordinals still being minted and no jump in fees, quite unexpected.
323  Bitcoin / Bitcoin Technical Support / Re: [Mar 2024] Fees are lower, wait for opportunity to Consolidate your small inputs on: March 16, 2024, 04:24:59 PM
Looking at his address, he's been doing that for a very long time. He's wasting massive amounts of money on transaction fees. I don't get it.

Deja-vu? Seems like the output wallet is labeled as Bitfinex, no surprise if they are behind it, I remember them from a year ago when they did it exactly when I was seding a tx:

And just when you thought everything is fine..
https://mempool.space/address/bc1quhruqrghgcca950rvhtrg7cpd7u8k6svpzgzmrjy8xyukacl5lkq0r8l2d

Bitfinex comes and tries to consolidate its dust with 20 blocks worth of tx paying even 50-60sat/b, because obviously, their script is detecting their own transactions in the mempool so they were trying to compete with their own so from 2sat/b in just a few hours we're at 40. When you think that there are still a ton of other exchanges waiting for this then probably it will take more than three weekends for everything to normalize.

And guess what, they are still doing it:
https://mempool.space/tx/7470af51e25700b7053781fc72ed6cffb5b4996aea4d1dcb91072d3b29820717

81sat/vb when the last block had 11sat/vb transactions included.

They just don't care, Okex is also paying twice as much:
https://mempool.space/tx/ec529afad640fbfb757e833b57bf50683bf3c29dee0bacc0485894ffc57b6339
when you change the clients 10 times the fees you pay for withdrawals maybe that difference is peanuts.
324  Bitcoin / Bitcoin Discussion / Re: Biden resurrects 30% crypto mining tax in new budget proposal on: March 16, 2024, 04:06:50 PM
it would seem like the only way out of this situation is to move to a proof of stake model because they can always track you down by your power useage.

And what, you think they can't track you if you go PoS?

Furthermore, it would take just a warrant and two major staking pools taken over and you've just granted one authority control over the coin, at least with farms they will need to keep them staffed, consuming power, replace gear, make somehow impossible for the others to get more gear so they can overpower the controlled one, with ETH for example you just go after lido and you have 30% of the staking eth, raid coinbase and kraken and you are close in for a majority!

If an ETH ETF is approved you might see BlackRock owning more than enouhg to control it alone completely, what solution are you going to have then?
325  Bitcoin / Legal / Re: Operation of Bitcoin Fog Mixer, convicted for laundering $400 Million on: March 16, 2024, 03:17:55 PM
Roman must have been enjoying himself not knowing he's being watched. According to the report he was arrested in Los Angeles airport. I'm sure he got flagged at whatever country he boarded his flight from but they just wanted him to land on US soil so that they could arrest him.

Even if we assume he was not connected to Bitcoin fog at all, when you admit these:

Quote
Sterlingov says he “can’t remember” if he created Bitcoinfog.com and points out that he worked at the time as a web designer for a Swedish marketing company, Capo Marknadskommunikation
and
Quote
He concedes that he did send and receive payments to Bitcoin Fog as a user of the service seeking privacy, but says he didn’t use his bitcoins for anything illegal. “I think some of my transfers must have gotten mixed up with everything," he says.

and you have done so for millions, why the hell do you go to the States?
I don't get it, I didn't understand that for others who did live there, like James Zhong.
For god's sake you know the feds are waiting for just one thing to grab you and with double citizenship you just venture there?


Another reason that I can think of why they've taken so long doing this is to probably get those customers too and not just the service providers, that way they're getting more people in this money laundering operation.

They waited for Ilya Lichtenstein
https://www.ccn.com/news/ilya-lichtenstein-bitcoin-fog/
326  Bitcoin / Mining speculation / Re: 2024 Diff thread happy New Years. on: March 16, 2024, 03:02:58 PM
There is a solution, all you have to do is convince those companies to go public, depending on their listing they will be forced to present their financial data, and have someone leak the details (as most will not be completely public for a lot of reasons, including not aiding the competition) and you might get a number for the last 5 years.
Nothing too complicated, right?  Grin

so for the last eight weeks we gained 5.951%
price went up over 20% over last eight weeks.

hmm, isn't eight weeks in January, so more like over 60%?
Or is 20% per period..
I don't get this!

Anyhow if we want to look deeper into this as if we have nothing else to do, maybe a thing like % increase in income per th/s from last November at 5cents pwe kwh would be an indicator of what we can expect, but, the halving is next month, price is all over the place, and bitdeer has just released ...something..
https://ir.bitdeer.com/news-releases/news-release-details/bitdeer-announces-new-4nm-bitcoin-mining-chip-seal01

So, popcorn with extra fudge times incoming

Quote
Latest Block:   834806  (4 minutes ago)
Current Pace:   93.9928%  (183 / 194.70 expected, 11.7 behind)

Quote
Latest Block:   834935  (8 minutes ago)
Current Pace:   91.8445%  (312 / 339.70 expected, 27.7 behind)

Only 129 blocks in the last 24 hours, if we go by downclocking this would be the mother of all downclocking in the universe, if not variance maybe more like one huge mining farm shutting down for refitting or maintenance or power failure or ..something!
I can't see anything that might help in the pool distribution, so open theory field:
https://explorer.btc.com/btc/insights-pools
327  Economy / Exchanges / Re: Nigerian Telcos Have Blocked Nigerians access to all crypto exchange websites on: March 16, 2024, 02:45:32 PM
Not every knows about the DNS settings and some Nigerians might need it with the way things are moving.... If you have any good resources you can drop it.

Are you sure is a dns level ban?

As for changing it, it can't be any simpler than this, at least for Android as that's what most use, just go to settings, type DNS and you get the Private DNS settings, and you change it from automatic or off to custom as you add to Private DNS provider or DNS provider Hostname for example "dns.google" as I doubt the Nigerian authorities have enough power to force google to enter customs bans.

But as I said before, if this doesn't work using VPN might be risky, you don't know when exchanges will use that as an excuse to steal your coins, just because they let you do it for a while it doesn't mean they won't selectively pray on a few.

Over here in Greece there's also a very expansive list of online casinos being blocked, which includes most crypto casinos too. But it can be bypassed by simply changing the DNS on your computer. So I would assume most crypto users are already educated enough in computers to know how to bypass these silly blocks.

Same here somewhere back in 2016 or 2018 can't remember,  but in my case the moment I managed to access my favorite betting website I got one huge announcement about how they wouldn't support customers in my country anymore and to withdraw my balance as soon as possible as my account would be frozen until the site will get a license for operating here!




328  Bitcoin / Mining / Re: Hello, my friend has 200 solar panels, do they generate enough energy for mining on: March 16, 2024, 02:20:26 PM
I guess it will  because Machine requires alot of power supply to work perfectly  you see solar panels are rated for their wattage - how much power they can produce. 200 amp-hours is a measure of battery storage - how much energy can be stored at some associated battery voltage. So you have to provide some additional information to find a useful answer. Power is the RATE of energy transfer (1 Watt = 1 Joule/second). But we do NOT want to start talking about Joules. So another way to talk about it is this (1 Watt = 1 Volt-Amp; harder to see the rate aspect of that until you consider that amperage is a measure of electric current per time).

As Stalker22 said, if OP, (who hasn't visited the topic since) found the simple explanation too complicated do you think this will help?
He had problems with raw kwh translated metrics, what's the point of talking about joules and volt-amp, like seriously?

Anyhow, I guess we can't help OP anymore no matter how we try to dissect this and it will turn basically into a discussion between us, he maybe has got wind of a business from somewhere else and he just enquired without knowing the details or something else, but he has o real plan on it, nor does he know too much about mining either. So, I don't want to be a pessimist and like bury other's dreams so roughly but if you don't know what you're doing better stop doign it, especially if it costs money!

And where does the 4.8 comes from?
If your solar plant produces only 20% of its max rated power capacity throughout the year, it basically boils down to 24h*0.2=4.8 (your power factor), in order to calculate a rough estimate of the average daily production.

Yeah but again it's average per year, so depending where you're situated you can have even 30% variance summer winter, and if you're running only on solar that would be a tremendous increase in batteries, if you use those solar panels for heating again, what's spare energy in summer bight be not enough for an s9 in winter...and so on!
We're just talking assumptions here without OP helping us!



329  Other / Meta / Re: Reasons of be inactive on: March 15, 2024, 09:43:12 PM
a lot of the members that carried no signature have left the forum because of the spam wave that some signatures have brought
Or just because they aren't paid. If bitcointalk was just another regular forum, then I might be visiting once in a while, and I'd definitely ask my Bitcoin questions whenever I needed it, but it's just not economically viable to be that active. The only active users who aren't paid to post are probably retired OG Bitcoiners.

I was more thinking of guys who quit before 2013, when campaigns were just at the beginning, a lot of users felt like this was inviting spam, some think that even now, and although they still are around they harbor a few bad feelings against this, and I do understand some, it's a bit frustrating when suddenly from a simple discussion where everybody was posting just for fun there were 100 outsiders making quotas. A lot of the users there already experienced one hell of a bull run, with gains in terms of % that will never be replicated so for some it made no sense even at that point to wear one.
330  Bitcoin / Bitcoin Discussion / Re: The Faketoshi saga is now coming to a close... on: March 15, 2024, 09:34:07 PM
Thank God that this farce is finally over, .

You're underestimating Craig, and if somebody feels the need to puke but is afraid of taking meds:
https://twitter.com/Dr_CSWright/status/1768660514517737650
Read the comments and try not to break something.

Any body can prove that he, she or they are Satoshi Nakamoto they will get a big bounty as big as 100 BTC.

So anyone who can prove he has access to 1 million coins will get 100 btc as a reward for revealing himself?
That sounds....

Anyhow, can now someone please end that BSV's misery, it dropped to less than 0.1% of Bitcoin's haashrate, just 51% it and end it
331  Economy / Economics / Re: Nigeria is set to join BRICS in May 2024. on: March 15, 2024, 07:04:34 PM
I will shout on top of Mount Everest that Africa's problem is not colonialism but bad and fantastically corrupt leadership.   

And how will that change by joining an alliance that has 8 or more like 8.5 out of 10 countries run by a totalitarian corrupt to the core regime with a leader for life?  Grin

Anyhow, as I said before
This is what I didn't get from the first line of this topic, how would that help, again, the first line in the opening post:

the West African country would be trading its major exporting product which is oil in Naira

this is not a thing you would want to do at allll!!!!
Your naira is going down because people sell it for other currencies, trading oil for dollars brings in hard foreign currency that supports your naira, if you would be receiving instead Indian rupiah or knows other worthless currency like the rial or the rand you're going to have even a worse time than before!
Why do you think Russia didn't want rupiah and India didn't want to pay in yuan?

So why the enthusiasm when the so-called fix will definitely make everything worse?



332  Other / Meta / Re: Reasons of be inactive on: March 15, 2024, 06:51:02 PM
I don't know if anyone have noticed that,

Everyone has noticed stuff like that and it's not a new thing either, it's no secret a lot of people would quit or at least dwindle down their activity if they are not paid for it, it's all a matter of how much time you have to spare and how invested in the forum you are. If you're a big bag holder and you have no worry in the world browsing the forum to see how your coins grow is pretty funny even if you're not paid, when the forum was your only revenue and now you have to flip burgers instead, of course, you won't be around too long.

Even though signature campaign shuts down, we will still have member here, who are enjoying the forum activities and also doing business here.

The activity will plummet like a stone, that's the reality and I bet theymos knows it also, a lot of the members that carried no signature have left the forum because of the spam wave that some signatures have brought and there are slim chances they will come back. The rest will probably just visit the forum once in a while and that's it.
No point hiding it, we all know this ourselves, it is what it is!
333  Bitcoin / Bitcoin Discussion / Re: Biden resurrects 30% crypto mining tax in new budget proposal on: March 15, 2024, 06:34:37 PM
Does anyone really think this is Biden's idea?

With the number of laws and regulations that happen every day it's highly possible he isn't even aware of the details, no president alive unless he governs over 100 people would be able to keep up with all those, it just gets passed from commission to commission to agency when it finally makes it to a higher office and then it's a matter of who's backing it.

Luckily in my country the government does not impose such high taxes on Bitcoin mining businesses, on the contrary the government gives them tax discounts to keep their operations continuing and keep the cryptocurrency ecosystem in my country further developing.

The first time I heard such a thing, I saw you're from Indonesia and I' 've never seen news of any large farm there, so what are those discounts?
Because a 30% tax on 2.5 cents per kwh is still cheaper than a discount of 50% from 8 cents.

This is atr people that don't want people to get rich though Bitcoin investment that is why they are always ready to bring tax that would make people to stay away from Bitcoin mining or trading.

So they don't want people to get rich and have money and to tax them but instead, they want the masses to be poor so they have no taxes to collect and need to pay them all kinds of social welfare programs from the government budget. And you think that's their plan?  Cheesy
334  Economy / Economics / Re: Nigeria is set to join BRICS in May 2024. on: March 15, 2024, 06:19:02 PM
During this period Nigeria

didn't exist! There was no such thing as Nigeria!
The Sokoto Caliphate was still running half of the country even at the start of 1900.

As for the rest, you're been independent for almost a century, with a British dominance that lasted not even that much and you still can't let it go. South Korea was in a worse share in 1960 and went through a war, yet look at it now. But keep blaming stuff that happened a century ago, the dollar, the US, the reptilians and you're going to see where that leads, in a circle of blame!
335  Economy / Economics / Re: Recession soon? on: March 15, 2024, 06:00:24 PM
We're now just waiting for US to announce it but it seems they're tough and won't be reporting anything like that.

Nobody is waiting for that because the US economy is still growing by a large margin:
https://www.bea.gov/data/gdp/gross-domestic-product

Quote
Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the fourth quarter of 2023, according to the “second” estimate. In the third quarter, real GDP increased 4.9 percent.

I know it's a thing that has become like the daily prayer for some to see the USA in trouble but right now you couldn't be further from the truth. And in a short time all those fears about recessions will turn to be just like the other crises that never materialized apart from the media, the food crisis, the energy crisis and so on!

Wait, isn't recession already going on? We have money but its not enough now. Everything is so expensive.

Pricing increasing is not a recession, if you would go by the price indicator alone right now a deflation would be far more likely to trigger a recession.
Things are expensive because there is demand for them even at those prices, otherwise, you would see all those markets crashing down like the real estate did a decade ago, but there are no signs of that if you exclude all the fearmongering that has been around for a decade also.
336  Economy / Economics / Re: Btc new oil for USA on: March 15, 2024, 03:25:42 PM
This may change quickly if USA dumps USD and use BTC like El Salvador does.

And when did Salvador ditch the USD? In the next life?

All in all, Bitcoin could be the new form of power struggle, Russia is not heavily invested into it yet, and considering China is definitely not interested in right now, if Blackrock gets in and buys it all, they will use it as leverage on the dollar and make it more powerful against other currencies. They are not really comparing oil vs bitcoin, they are comparing the "logic" behind why USA is so interested in it, and is it similar to why they are interested in bitcoin too.

That's the funny thing that the alternative everyone is cheering for the US is an alliance of bitcoin-hating countries.
Almost every single one of them has a beef with it, China banning it, Egypt banning it and even making a religious thing out of the ban, both Russia and India are at one point thinking of banning the legalizing, then slapping a 30% tax on it, so it will turn really funny that in their desire to topple the USD they don't realize the US is already dominating the BTC market.
I really want to see the faces of these guys when BlackRock will have more than a million coins in their custody.

337  Bitcoin / Bitcoin Discussion / Re: 4 Years ago people laughed at me bcz of THIS on: March 15, 2024, 03:13:21 PM
Funny thing is,  those who are laughing at me can't even see the price of Bitcoin in March 2020.
here is proof:
Coinmarketcap will not show you the excat price.
you have 4 start in your profile and you dont even know the basic yet.

And why don't you tell us from where is that image?

These are the lows for those days:
Quote
Mar 20, 2020      $5,865.78   
Mar 19, 2020           $5,236.97   
Mar 18, 2020      $5,069.34   
Mar 17, 2020      $4,981.91   

But anyhow, even if that price would have been reached it doesn't mean that a whale could have bought billions without it spiking up again!

Can you quote on the people that have called you that? You can probably do good if you quote them all and paste it

Wait, you actually believe that the guys who called him a psycho for saying whales manufactured covid and released it to buy cheap bitcoin are the ones in the wrong?
338  Bitcoin / Mining speculation / Re: 2024 Diff thread happy New Years. on: March 15, 2024, 02:56:29 PM
BTC does what BTC wants to do.

I do wonder if those times will not also be over soon, for sure the market is not mature enough, not at all as we look as today's drop and the swings in the last weeks but  in the long run seems to me like it will turn into the same thing as gold, and days of wild trading back in forth 10% would be a thing of the past

I wonder how it is that every 14 days there are such significant movements (5% I think is a lot)!?
I don't see people turning machines on and off every week, to the point of influencing the hash by 5% (up or down).

Mikey did the probabilities a few pages back, things do happen otherwise you would have days with 144,143,143,142,141 blocks and so on as people are adding more gear and block finding is the perfect reflection of added hashrate!
Just like this current stats:

Quote
Latest Block:   834806  (4 minutes ago)
Current Pace:   93.9928%  (183 / 194.70 expected, 11.7 behind)

doesn't mean that suddenly ~500k S19 are offline!

We had a - 3.90 % then a + 7.33 % , now a - 2.90 % and a + 5.79 %.
Once you break them in months average and not two weeks periods it stops being that amazing.



339  Economy / Economics / Re: Nigeria is set to join BRICS in May 2024. on: March 15, 2024, 02:39:45 PM
This may also be a reason. But nevertheless the USD is a problem for various reasons. A strong USD can lead to an appreciation of the Nigerian currency Naira, making exports more expensive and reducing their competitiveness in international markets.

It's exactly the opposite!

A strong USD as it is right now means a useless naira, making imports very expensive and making exports viable!
But since the country doesn't have the capacity to even cover domestic demand and relies a imports even for food , you have the problems that are currently wrecking havoc in the county!

And this is the main reason while  this whole brics thing won't fix a thing, just as it didn't fix a thing for South Africa either in all these years, for people to accept to trade in naira your currency must stop being toilet paper, nobody will accept it just because you're in an alliance, just as Russia refused Indian rupees, this revived Comecon that more about politics than actual economic facts will have the same fate!

Weak countries can unite and to form a strong union that can benefit them positively. Africa don't need to be partner with the nations that you mentioned to come out of it's economic woes. After all these nations have been Nigerian's trading partners for centuries. Russia, India, Brasil, South Africa might not be as rich as Western nations but Nigeria has lot to benefit from them in the construction, educational, health and other sectors.

Trading partners for centuries? What was Nigeria like in 1800 or 1700?

340  Economy / Speculation / Re: Im new here but Im old trader i keep eyes on Market. on: March 15, 2024, 02:21:55 PM
Old trader? It doesn't seem like your statement proves you are an old trader or have a lot of experience in trading.

He got the things wrong, he wanted to say that he is old here, new account and he keeps posting stupid stuff  Wink
There is nothing in his post other than, I think bulls are having a fight with bears so I think the price will go up or maybe down but for sure it will be either of those unless it stays the same.

Yesterday you said: "the 69k price range strong support zone for btc", and today it's magically shifted down to 65k-67k?  What the heck happened in those 14 hours?  Did you forget your crystal ball at home?

Plot twist, he never had a crystal ball.
Seriously what trader would write this in its "analysis" :
Quote
now price 69k-70k there fight with bulls and bears and WHALE activity what i see that whales are loading bags full now
This is just another one of those garbage material speculations topics and it just smalls as a new reincarnation of Fullbear2222.

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