wrecked some floors
Twenty dollar floors |
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(Ostrich with his head in the sand until all this bearishness blows over).
 EvilLookingOstritchSoon.png |
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It's already worth far more than it should be in my opinion.
In the face of such evidence, it would be rational to reassess your opinion. |
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And sure nobody likes Dan. But everyone wants to be Dan.  I used to be Dan. But I got tired of arguing with the completely ignorant that were absolutely sure that Bitcoin would fail - and for all the invalid reasons. So I stopped talking about it years ago. Except for cases where I did not initiate the topic. I don't believe it. You just switched from bitcoin over to b-cash... and started over, No. I sold a lot of my Bitcoin Segwit, buying Bitcoin Cash with it. I did not 'switch over' in any absolutist sense. I still believe that Bitcoin Cash has the proper roadmap for the future, but I am hedged. You saw Ver's performance on the Alex Jones show, right?
No. I gave up on Alex Jones on NYE 2000, when Yeltsin's resignation caused him to devolve into apoplectic paroxysms of armageddon panic fever dreams. Should I have seen it? |
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And sure nobody likes Dan. But everyone wants to be Dan. I used to be Dan. But I got tired of arguing with the completely ignorant that were absolutely sure that Bitcoin would fail - and for all the invalid reasons. So I stopped talking about it years ago. Except for cases where I did not initiate the topic. |
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Ya'know, those smug douchebags can mock and parody Bitcoin and crypto all they want. I'm sure Jamie Dimon and the big bank establishment is loving that shit, as it keeps the Average Joes away longer because they mock it, like Bitcoin and the whole space is just one big scammy joke, a short term fad that only idiots would get involved in. Mind fuck on Average Joe, mission accomplished. But we'll have the last laugh alright... oh yes... Yeah - to them, we're all Dan. Note that in the last depiction, Dan has a Lambo. Methinks they're just coming to grips with their jelly. I suggest we all buy matching belts so they can know us as the brotherhood of Dans. |
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You seem to be suffering some form of perception inversion syndrome.
Yeah, Bob got that one backwards. Eh, whatever. It's 11:04am. I'm on beer #4. Cut me some slack. I think you had it correct. It only really makes sense if you've seen that Jordan Peterson interview though. Just no. Sirazimuth was the one making an equivalence between enjoying shooting and friendship with Ted Nugent. I was pointing out the folly in assuming such a link. Bad cop. No donut. |
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What if miners had to pay a fee to mine but that was their entry ticket to a prize pool?
That is pretty much how Bitcoin mining works. Are you trying to imply that hardware and electricity costs could be called a fee? I guess it depends upon what your definition of fee is. Not having specified to whom said free would be paid I merely assumed you only meant it in the generic sense of an expense. |
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And just where did I state each and every person that shoots guns might be into Cat Scratch Fever? (I can make leaps too)
See. There you go. Completely shoving a Kong Dong of Dilation +4 into jb's anus over his warped views. I knew I did well ignoring them. Let me summarize in meme format.  You seem to be suffering some form of perception inversion syndrome. (edit): Bad top! No donut! |
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What if miners had to pay a fee to mine but that was their entry ticket to a prize pool?
That is pretty much how Bitcoin mining works. |
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What fixed the transaction backlog btw, did the major exchanges go segwit?
Some seem to think that they slapped the bogeyman Coinbase into shape -- they are now batching the outputs for multiple parties into single transactions. Segwit tx's in general count for some small portion. OTOH, the majority could be a simple reduction in demand. |
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...going shooting ...
Give Ted Nugent a buzz. You two would make great buddies... You should probably leave your safe and cuddly echo chamber from time to time. You realize about 1/3 of all Americans are gun owners, right? Salty? Nope. Just pointing out the ridiculous folly of assuming each and every person that might enjoy shooting would share friendship with Ted Nugent. |
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As we know, the IRS does not claim that you owe income tax on revenue. The IRS claims you owe income tax on income. Which is revenue minus expenses.
actually the IRS has never defined anywhere in their code what exactly is income. Moreover there is no where in their code that requires most ordinary people to pay an income tax. But they will fine you $25000 for making any argument like this. And if you are a great communicator and share these views you may end up in prison, like Sherry Peel Jackson (Sherry Peel Jackson Tells it Like it is, IRS is Fraud - Part1) https://www.youtube.com/watch?v=ooHTg6-Y078Yes, there are great gaping holes in the IRS's public claims. Which is why I phrased it as 'the IRS claims that you owe', rather than 'you owe'. And yes, they have barred any discussion of the actual law from any tax cases. But that is another conversation pert near as large as the entirety of crypto. Ain't nobody got time for that. At least not in this venue. |
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You will see numbers thrown about that with gigabyte blocks a node will cost roughly $20000 a month to run this is out of the budget for most businesses so you will only get large corporations and the miners running them
LOL tek you crack me up. I run a full node for FOUR DOLLARS A MONTH you doofus. A GB block server is $20k upfront right now and $50/month to host in a good datacenter, in 2 years it'll be $4k cost for the hardware and hosting will be the same cost. My server cost's me $50USD a month ... That hardly counts as evidence for your outlandish $20,000/mo fantasy. |
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You will see numbers thrown about that with gigabyte blocks a node will cost roughly $20000 a month to run this is out of the budget for most businesses so you will only get large corporations and the miners running them
I'll see $20,000/month opex numbers thrown about? Where? While this is generally ok you are putting complete trust into a few all the BCH mining pools are "friends" so if they decide for instance that the low fees are not enough to sustain a profitable business they can just increase the coin supply as no one else can afford to run nodes you just get forced to accept any changes or move to something else.
Which, of course, is exactly the same situation as Bitcoin Segwit. |
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How does running a full node put more power in your hands? I run several full nodes, and I don't feel very powerful. In a POW coin the miners have to run full nodes, but I don't see the advantage of Joe average running one. Does it really help secure the network?
Well, someone who runs a fully-validating non-mining wallet (usually mis-referred to as a 'full node', despite the fact that Satoshi's nodes were capable of mining) is able to conduct transactions in a fully trustless manner. This could be considered a benefit to that party. But the notion that this somehow conveys some benefit to the system as a whole is nothing but a myth. |
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Bitcoin Cash payments have just been rolled out to ALL BitPay merchants! what do you think about? Is this good information?
Yes. One more stone being laid in the foundation of Bitcoin Cash. Bullish. I heard bit coin cash was created and funded by the bankers as a way to take bitcoin off the throne, so they can manipulate the market more. You "heard", eh? From who? The canonical "they"? |
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it's GTFO
If GTFO is in any way a viable option, and you are not risking anything irreplaceable, then GTFO is always the best option. Even if you are certain to emerge the victor. |
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the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.
Do you have any evidence to go with with your assertion, or are you just doubling down on your fever dreams? Jim Rickards claims it was happening to people: "But when K read the 1099, it got even worse. It showed that he owed $2.4 million in taxes, despite his estimate that he only put $8,000 into cryptos. K has decided to sit tight in the belief that he does not owe the taxes. Big mistake." Hmm. I've not had time to keep up with Rickards' emails lately. Trawling through my archives, I find this sent by him on 2018 Feb 26: This would rank as the funniest article of the week if it weren’t so sad for the individual involved. We’re all familiar with the IRS Form 1099. That’s the one used to report most income other than regular wages that go on Form W-2. The person paying the income — it could be a bank, broker or any supplier — files a copy of the 1099 with the IRS and sends one to the income recipient. It’s the recipient’s job to report the income on their tax return. By the way, IRS computers match 100% of the 1099s they receive with what taxpayers put on their tax returns. It’s a kind of computerized audit. Those who don’t report the income may not get a knock on the door, but they will definitely receive an official letter asking the income recipient to explain the discrepancy. Cases just escalate from there. Coinbase, a major U.S.-based cryptocurrency exchange (not to be confused with Coincheck, the subject of the story above) just sent a Form 1099 to one of its customers identified only by the initial “K” in this story. K was initially freaked out even to be receiving a 1099 from a crypto exchange. What happened to the anonymity in the crypto world? Apparently, it doesn’t exist, as I have been warning for years. But when K read the 1099 it got even worse. It showed that he owed $2.4 million in taxes, despite his estimate that he only put $8,000 into cryptos. K has decided to sit tight in the belief that he does not owe the taxes. Big mistake. The IRS will take its copy of the 1099 from the exchange and assert that K does owe the taxes. The IRS puts the burden of proof on the taxpayer to show they don’t. Courts have backed up the IRS on this burden-of-proof approach. Just ask Al Capone, the notorious gangster who went to Alcatraz not for extortion and murder but for not paying his taxes! K will find this out the hard way, as will millions of other crypto customers. The IRS is warming up for a bonanza of tax claims. Cryptocurrency traders should get ready for the mother of all tax nightmares.Something in this does not match my experience. I've been 1099'd by Coinbase as well. Just buttresses my documentation. However, the 1099 I received was a 1099-K. Are you familiar with the purpose and structure of a 1099- K? Nowhere on a 1099-K is any indication of tax owed. All it is is a month-by-month accounting of USD-denominated revenues. Conspicuously absent is any mention of USD-denominated expenses. As we know, the IRS does not claim that you owe income tax on revenue. The IRS claims you owe income tax on income. Which is revenue minus expenses. Now, it is kind of odd that Coinbase chose the 1099-K as a form to file. This is usually used to track things such as revenue from credit card processors. But regardless, it is pretty silly that someone in the chain (after reading the source article which is short on details, Jim seems to be taking on faith the claim that the specific 1099 sent to "K." shows tax owed) seems to be confusing revenue with income. Tempest in a teapot. |
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