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This is a very interesting upgrade to the site (while I don't completely understand it yet), I will be curious to see how it evolves and changes. Assuming it is still around after April 1st is past...
I too would like to know how the site knows how many different coins I own (in my case, a mere two).
I wonder what my grid would produce in Conway's Life game.
Virtue and karma seem difficult to calculate, but I am not a Higher Power at all.
Cheers! Fun thread!
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I'm so tired of reading posts from idiots whose only knowledge of cryptocurrency stems from Andreas Antonopolous propaganda they regurgitate as being true when in fact it's all lies: A blockchain is not some type of magical 8th wonder of the world. All it is is a ledger that requires a focal point for convergence. The focal point is always something like stake, raw hash power expenditure (which is nothing more than externalized stake in practice), or some other variable that can be quantified where I can say that I have more of it than you do. Where exactly do you see "decentralization" arising from such a paradigm? You would need to be a fool to think so.
The only way such an idea would not be laughable at face value is if everyone who uses the system was required to be a miner, but that's obviously not possible due to massive monetary and intellectual capital required in creating chip foundries and the fact people can corner said technology and not share it. Even if you could design it that way, the Pareto principle would still destroy it decentralization-wise anyway. It's 100% not possible to create a decentralized digital currency.
As time goes by I come more and more to the conclusion that the correct end-point of crypto (esp. BTC) is likely gold. Cryptos are likely to somehow be subverted by .gov one way or another in due course. Already they monitor the Entrance and Exit Ramps (it's possible, but hard, to buy & sell BTC evading KYC/AML laws). We now see that Bitcoin, one of 1500 + cryptos, is already at some 43% - 44% of total crypto market value. That is some centralzation just right there. At least competition in the crypto space is good -- it should help innovation. |
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I have long wondered if there are any exploitable patterns in BTC price, like lower price (for example) late on a Saturday night in the USA.
I certainly understand that any obvious patterns will be picked up by trading bots as well as alert human traders, but perhaps there might be structural reasons for prices, on the average, to be a little lower or a little higher (eg, fewer people worldwide active at certain times, etc.).
My *guess* is that there are NO such patterns. If there are such patterns, my next guess is that they would be small, probably hard to exploit...
The *reason* I started this thread would be to gain any insights as to when might be a relatively good time to buy BTC.
Thoughts?
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Our experience with wire transfers is that they are pretty quick vs. in the past.
Peru -> USA: the money arrives in about 12 - 30 hours, depending. Total costs for small transfers: some $100 (our- and incoming fees)
Peru -> Korea and Japan: the money arrives in a day or two after sending. Total costs probably similar as above, maybe a hair more.
Peru -> China: I don't really know, but our Chinese suppliers never complain about when they receive the money after the T/T.
For international transactions among real companies the bank wire transfers work "well enough". But, when I receive a payment (say for $3000), the total costs are some $60 or more.
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seems we have TWO economies running.A new rising Virtual world economy with no boundaries and the old real world economy with borders and laws. As the Virtual Economy grows and more and more participate a need for ONe virtual currency increases.A single supporting legislation on Such Virtual economy will also be needed.
I’m not a expert in technology (I’m a Virtual World Refugee) I don’t know anything. But biggest difference I see between crypto currencies and real world Paper / Metals is that the Cryptocurrencies are not subject to geographical boundaries nor affected by central bank interest rates changes - and easily outside of Tax.
The young folks and next generation are very comfortable and spend more time in Virtual Economy than the Real World. So I see this as a new empire but without borders. In old times when An empire started - the architect/ Engineer/ resources miners were in high demand / law enforcement/ armies - today I speculate that TECH sector wages are out pacing other sectors as they build this new empire - their law enforcement you can say are the System security / forensics experts / developers / miners / System database designers etc.
Virtual World vs Real World
Be very careful re avoiding taxation with BTC profits. Our (USA) IRS is working with "Chainalysis" blockchain tracking software (probably other software too). The IRS has just gotten (or will very soon) all sorts of records from Coinbase... Yes, there are ways that us non-tekkies can hide the trail somewhat, especially small fish who would interest the IRS less (except for "demonstration purposes"), but my remarks stand. Even getting into Monero, which hides transactions pretty well they say, will likely have the Entrance Ramps and Exit Ramps monitored (when you buy your crypto for cash, sell it later, or buy something with it). One of the great thinkers (yeah, I'm thinking of YOU) here at bitcointalk has argued for years about the impending Knowledge Age, in which the smart and hard-working will prosper. This gives some hope that maybe the long longed-for world of easy to evade financial borders (etc.) may come along in due course. I think that it WILL likely happen. But I suspect that will take longer than many think. In the meantime, I would play by the rules unless you are highly skilled and very careful. |
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Nice review, I have a Digital Bitbox and am happy with it. |
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I know Venezuelans (in the USA now) who send BTC to family in Venezuela. They should mix their coins for security! Especially if they go to visit, their Customs often checks cellphones and laptops...
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Spend bitcoin on goods and services directly, then it will not become a taxable event, then you will be able to spend it and avoid taxes and maybe even bitcoin will grow even more before you spend it all  This is NOT true in the U.S.A. In that country, spending bitcoins on goods and services directly IS a taxable event. Or if you really want to exchange it to cash, you can do it via some other good, like gold for instance, chances are it will not be a taxable event either.
This is NOT true in the U.S.A. In that country, exhanging bitcoins for some other good or asset IS a taxable event. Having spent a lot of time working with our tax accountant (USA) in 2017 and 2018, I can confirm that spending or trading BTC for other assets is indeed a taxable event. Spending or trading BTC is typically seen as a Capital Gain (in the eyes of our IRS). Doing the work is tedious, and usually requires records of BTC buys and sales (trades). Do as Danny suggests, consult a tax pro. Don’t ask for trouble. |
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Generally speaking, if enough “experts” and MainStream Media/.govs/investment banks launch these sorts of campaigns, that is a sign to take the other side of the bet... In this case, BTC is likely a buy.
Goldman-Sachs typically makes bad calls to screw their muppet customers in a similar way. Other prominent investment pros are similar (they make bad calls). The lesson here? Think for yourself!
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Both gold and Bitcoin are assets that are quite different than all of the mainstream assets available (think stocks, bonds, real estate). Thus holding both BTC and Au are great diversification — which equals safety in unpredictable times.
Also, mentioned in another thread, studies have shown that diversified investment portfolios perform better than more concentrated portfolios.
Be smart, own both!
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Teenage actor David Hogg from Florida false flag shooting operation failing to recite his pre-scripted lines and having to do redos over and over on camera: http://www.youtube.com/watch?v=bvz3NsbptNcThen, the same teenage actor David Hogg on the news in CALIFORNIA instead of Florida in August 2017: http://www.youtube.com/watch?v=HvZD7UkJd24You're not getting the guns jewfags! The debt based scam dollar will implode, everyone will have guns when it happens, and govts will be forced back to metals instead of a new debt based scam currency or cashless society slave system. I just saw a report from a LOCAL Florida news station saying some of the Douglas High students are not teenagers nor students there. That caravan of NICE buses? Not organized nor paid for by students.Lies everywhere. TPTB only want more controls upon us. My own defenses are owning precious metals, a little crypto (a fabulous experiment worth keeping our eyes on) as well as a gun or two. Don’t forget extra ammo. Avoid debt. Debt is very dangerous unless carefully controlled, like fire..... |
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... Bwa ha ha. We may yet get a chance to but BTC again at $2500 the way things are going. As I write, BTC price is about $10,000. But, if it gets down to, say, $8000, I will BTFD. $6000? BTFD again. $2500? Again. Unless there is some "Real News" that comes out showing some weakness (note that I am unable to review code at github, though some people I have contacted HAVE and to them it looks OK: safe). |
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We have units in stock again v3 ? In the title of your latest post. If this is a new unit, please let us know! Also, how it might be different than v2. |
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I still have yet to find anyone who can convince me that holding BOTH cryptos and precious metals is unwise. Personal circumstances of course would influence which particulars and in what quantities should be held.
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And you will not find such a person. I can tell you once a friend gave me a book on mathematical background of investments. I don't have the book now, and I don't remember the equations, but the bottom line of that analysis sunk very deeply: the best (EDIT: and most sure at the same time) returns one gets from maximaly divergent assets, in terms of their mutual correlation. So it seems that gold and crypto are not correlated particularly well and it would be good to have them both in your portfolio. I too saw some math long ago about how a wide diversification gets better returns (not to mention safer), not in a book, but somewhere. Safety is very important to me. That is why my limit of holding cryptos is about 1%. Of course that will limit any BTC/BCH/ETH/LTC (etc.) gains should they skyrocket. But, each crypto looks risky and volatile, and the technology keeps changing (not to mention .gov meddling). Nice comment! I tried to "merit" you, but am not sure if I have this new feature here figured out. |
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It looks like BitPay is enabling Bitcoincash. Here is their latest update dated 26th Jan 2018: https://blog.bitpay.com/bitpay-plugin-updates/At BitPay, we want to make it as simple as possible for merchants to accept bitcoin payments. Our plugins with popular e-commerce payment solutions let online stores accept bitcoin without headaches or bitcoin price volatility risk.
These updates will open up new BitPay features coming soon to BitPay merchants, including Bitcoin Cash support. If they can get a wide number of merchants to accept BCH, then that is bullish for the coin. Bitpay is the owner, I believe, of the Copay wallet. Which I presume very soon means I will get another piece of the BCH "airdrop" from the August 1 split. I already have some I transferred some BCH (from an online wallet) to Copay, and am waiting on being able to use it. It's THERE at Copay, but no way right now to get it out. [PLEASE correct me if I am wrong about Bitpay owning Copay] Yes, if Bitpay does start accepting it, more merchants almost certainly will "accept" BCH, via Bitpay. * * * I also was informed by DigitalBitbox that they too will soon support BCH, which means (for me) more BCH. Looking kinda good....... |
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Actually, CRED.me, your comment to a degree reinforces my near-constant nagging of those with investment assets to diversify their holdings.
You might be right about gold becoming "obsolete", although I doubt it. True, the young do not like it. THREE coin dealers here in my city have confirmed to me personally that "Bitcoin is sucking the oxygen out of the room" re physical gold buyers. But, this is perhaps fashion.
"The Ten Thousand Things Rise and Fall Without Cease"
- Lao Tse (approx. 500 BC)
Gold has been valued by mankind for 6000 years. I have no problem with keeping a fair amount of gold as "insurance against .gov malfeasance", and you have agreed with that position (note, this comment right here is more for new entrants in this conversation). Anything that has a 6000 year track record of excellence in Store of Value ought be given the doubt when its value comes called into question.
* * *
With the above said, my inclination is to believe that cryptos are a new class of assets. And it looks like they will become ever more important through time, with the inevitable ups and downs (in part due to .gov interference).
I still have yet to find anyone who can convince me that holding BOTH cryptos and precious metals is unwise. Personal circumstances of course would influence which particulars and in what quantities should be held.
Perhaps gold's biggest problem is the inability of getting a significant quantity through the X-Ray machines at airports... That is an issue I am still working on, how does one do that? Perhaps you know of a famous/infamous gold guy named Peter ("Pete T") Trzaska, he claims that there is a way to get gold onto the plane undetected, but he declined to tell me how.
* * *
CRED.me, I have to credit you with your theory (which I have not plowed through yet, only glanced at it) of "The Knowledge Age". Odds are that smart people, on the average, will reap outsized gains as we move forward in the future.
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hahaha ... roach getting pwnd on monetary science by anonymint!! cryptos brings out all the weirdos that's for sure ... goldbugs actually do not like free markets for money after all, they prefer the rubber glove of gubmint agents from wall st up their backsides.
With respect, not all physical gold advocates prefer interference from .gov nor Wall St. I highly value some some cryptos as well as gold. Having great respect for free markets is no way incompatible with liking BTC and/or Au. |
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And completed a small BCH transaction to two different addresses successfully.
No time delay (I'm an impatient guy, my favorite words are "Now" and "Hurry up!").
The transaction took approx. 40 minutes. I contacted their support, and they showed me their transmission of my BCH back to me. I *speculate* that the longer than expected time might be due to the new format of BCH addresses (my destination BCH wallets were at blockchain.info), the new format of BCH addresses do not start with a "1" like BTC addresses (and recently BCH). It took some time after they sent the mixed BCH to me before blockchain.info picked it up.
(blockchain.info recently began supporting BCH -- "old format" addresses)
Since PrivCoin fixed their issue with more than one destination address, I have had two successful transactions and zero unsuccessful.
The BCH transaction took 7 minutes according to our records at the time of your email. We also don't support the new address format for BCH yet.Our Bitcoin miner flat fee will be lowered as network congestion reduces! My 40 minutes (total time) was from sending my BCH to PrivCoin until I got it back at blockchain.info. My guess is that the delay might have been due to the system needing to convert "legacy" BCH addresses to and from the new ones. This is just my experience as a user of your service. Bottom Line: The service works, and works well. PrivCoin is the only mixer I know of that supports BCH. And offers the extra service of sending to two or more addresses. |
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Bitcoin Cash is effectively Bitcoin as designed and as it worked from 2009-2012.
Bitcoin Segwit (BTC) has become a Blockstream-captured frankencoin despite its high market cap.
It may stay high in value but it's not the peer to peer money I wanted. Future belongs to BCH.
If more merchants start accepting BCH, then it will likely do very well. I received an “airdrop” of BCH from the fork, which three of my wallets now support. BCH is cheap to send, that’s a big plus. Other than my comments above, I have NO idea if BCH will increase in value vs. BTC. |
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