When one understands the uniqueness of these figures, you tend to appreciate the importance of decentralization and also why it's important that some wallet are kept locked until the market matures enough to certain level when the flooding of bitcoins into the market won't make any significant difference in the direction the market is heading. As much as some would maintain that it would be difficult for someone to control the market, its still very much possible because what is needed is a push in a certain direction and every other market participants would fall into line. |
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This alone is a slap on gold itself as a precious metal because this is just showing that it can be adulterated and when that happens, the end is closer than before. I wonder how possible it is to have a fake bitcoin mined from whatever place the adulterated personified individuals might want to go get one and that is an advantage I am seeing here that bitcoin has over gold and comparing them is even out of place.
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I only use windows defender anti-virus for my windows PC. Do i need to install a better anti-virus to
prevent my PC from a hacker? btw I also use ledger nano to hodl my coins.
Windows defender to a large extent has been a life saver and I believe its sufficient enough to keep your system safe except its a targeted attack. Also, you might want to install another one if you feel that would give you peace of mind but be careful on the exact one you patronising so you don't bring in issue for yourself in a willingly manner. Aside from the suggestions on the right way to keep funds safe, I think another way is to do right especially on the part of government. File your returns if needed, pay your tax as at when due and government would be the least of your headaches. |
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Its unfortunate that they would not own up to the responsibility of their infrastructure being compromised one way or the other because doing that to them would be bad for business as they know that words would quickly spread fast over the internet because paying you back would mean them admitting of not keeping your funds safe as they have promised millions of their clients all over the world.
This is one issues I have with crypto market despite the reoccurring report of this particular service provider have been determined to be responsible for quite a number of loss of funds but they will go away with it because the market does not have control or overseeing body to put its activities in check.
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There is no point looking for the replacement of moneypot because there cannot be another moneypot. Even if a platform launches and modelled after moneypot, its more likely to be tagged an imposter in the market space. What is needed is another platform ready to fill the gap that moneypot will be leaving behind and looking at how to make it better other than thinking of replacing it. Someone else will take up the challenge or we look for other ways to survive without the services being provided by moneypot.
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Already this might have discussed. The growth of bitcoin as well other digital currencies keeps progressing with time. By the time common people too have begun to use cryptocurrencies on their daily life. Compared to the fiat usage, common people using cryptocurrencies were low. When the usage increases what will be the preference of common people. Whether it gets used as investment, gambling asset, trading asset, alternate payment, darkweb usage source.
If its going to be used by common people, the best way is to use it as a medium of exchange and that is when the usage will be on the high side. Other than that, its not achievable and the reason is that the option of investment is a faulty because a lot of people are risk averse and unless returns can be guaranteed, this is not an option to consider. The same thing applies to trading. Gambling on the other hand comes with its own detriment which is the default attitude a lot of people have towards the activity. So the suggestion is all efforts should be geared towards the use of bitcoin for daily activities as that is what can move the penetration deeper. |
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Is there a demand out there for the coins/tokens that companies and startup are churning out every day?
The market for initial coin offerings (ICOs) looks like its basically dead, is it likely going to resurrect again? What we see is that market players are spending much of their time focused on finding new ways to deploy new supply of tokens, but not focusing much on long term drivers of demand. However, there are natural limits to the market's ability to absorb an endless supply of tokens, there is a limit to how quickly we can push supply into an increasingly saturated market.
Do you think the ICO is really dead?
If not, where is the market headed?
Saying its dead would be totally wrong but being no longer attractive is the right word to use. The problem is that because the ICO market was infested with a whole lot of scammers looking to make quick bucks, it really made people lose interest and trust in the entire scheme and when that is lacking that is the beginning of the end. Now that we have an alternative which the people are now moving towards, it kind of make ICOs obsolete which then makes running ICO a very tasking effort that I believe a lot of developers are trying to avoid. |
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Hi all,
I have problems calculating the gains/losses using the FIFO princip. I have invested about 25k into Crypto in 2017/2018 and as many other I have lost a lot during 2018. My current balance shows 4k USD so I have a total loss of 21k.
i have bought the cointracking software and been spending about 1 day entering all information. After entering it all (Coinbase API, Binance API and Bittrex manually) The tax-report shows a netto loss of only 2k for the 2 years using FIFO. I would think that since my original investment of 25k is reduced to 4k my loss should be 21k? my USD value shows a negative balance of 21k.
I have until the 15 august 2019 to file my taxes so i would appreciate any help - especially if someone knows what could have been wrong or is there something that i'm missing?
Finally if someone would offer the service (for a fair price) to calculate the FIFO i would like to hear (approx 900 transactions)
Thank you all.
Even though the timeline for the filing of tax has passed but this could be useful for someone else who might be in the same situation. What you need to understand is what sort of tax are you supposed to pay on your crypto holding because with that you can then move on to figure out how its been computed by the software. If your coin is exposed to input VAT, then it might not matter whether you made loss or not, they might calculate in on your purchases. Another thing is that if your crypto is subjected under the Capital Gains Tax, you need to know at what point? Is it at the point of selling for fiat or at the point of selling for other altcoins. Its at that point you know what the software is doing. Although, your net position might have been a loss but maybe you had made some withdrawals to fiat at some time in the past which the software is picking as a basis for the calculation. |
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To say crypto are not harmful as a blanket statement is being economical with the truth because no matter how harmless an item is, it can be used for to harm people. As much as a nuclear station can be used to power a locality, it can also be sued to level the same station in the hands of the enemy of the state. For now, the volume of the transactions of bitcoin can be said to be harmless as its not enough to cause disruption in the scheme of finance but with absolute free hands, it won't be long before the people who are bent on just seeing the entire market crumble see it as a means to carry out their unwholly activities in a massive way thereby polluting the entire crypto hemisphere.
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So, I recently got into the idea of mining. I unfortunately don't have enough CPU or GPU power to actually be able to make much (with my CPU, about 20 cents, possibly more if I use the GPU as well). I've been thinking about the idea of crypto trading, however.
The logic is that any coin I make from mining is essentially free money (the cost of electricity can be considered negligible for me). For that reason, if I use that coin to trade, then even if it's lost, I've done nothing more than lose free money. That got me onto the idea of trading new coins and taking advantage of frequent market fluctuations. Basically, I'd use that 20 cents to invest in a variety of new and low cost coins. If any of them reach a certain amount (perhaps a dollar, or perhaps if it the value of the coin increases by 25% or something like that), I'd immediately sell it. That probably wouldn't make a lot of money at all, but if I were to conduct many many transactions like that, I might actually be able to slowly make a profit with that 20 cents. The profit I make can then be set aside to be invested in more relatively stable coins (monero, bitcoin, dash, etc), which I could do long term trading with. After that, I continue to repeat the process.
There are a few problems I see with this: I would probably have to make hundreds of transactions based on relatively small fluctuations for this to work. For that reason, I'd probably need a bot, and a free bot probably wouldn't be able to handle this sort of thing. The tiny gains from I make from the few coins that do rise in value also might not be able to offset the losses from the coins that don't increase their value, especially considering that the particular market I'm looking into will be extremely volatile. Beyond that, the costs of currency trading could also make this non profitable.
My main question is whether or not this strategy could be viable. If it can't, is there a way I can alter the strategy in order to profit, or is it a lost cause?
Your strategy is a good one though but the concern here is how are you willing to wait to achieve the target set. The continual staying on the goal which you have set is predicated on the assumption that your your winnings in terms of the decision made on the coins invested is consistent when this is not guaranteed, I am certain that it would be difficult to continue. I have done some trading with such assumption too. My opinion, is that instead of investing about 20 cents or thereabout, you can increase as much as you can afford to about 20$ with that, if you are lucky, a simple event might turn out a profit that might take a while for it to be eroded due to some ineffective decision making. |
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The issue of misconception about bitcoin is not something that is just happening. To some other people they just believe its an illegal 'thing' without taking their own ample time to even understand what it is about but just be myopic about their thinking. To some other people, its just something gamblers use, while to others, its for the money launderers. I think changing the narrative is on the active participants who are one way or the other have something to do with crypto and I have seen quite a number of those discussions happening. I have seen conferences held and discussion forums where crypto enthusiasts have made reasonable comments on the polity and by those actions would things change.
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If people don't profit from it, then it won't exist up until now. The problem is knowing when to stop. There is no way you wouldn't have made some winnings the question is, was the winning enough for you to step aside rather than the continuing with the intention of making more. I have been there and when the winnings was going on, it seems you are on top of the world till you get greedy about wanting to reach that goal fast forgetting that with the chance of winning, so also is the chance of losing everything abounds. Eventually, you lost all which you are not the first and won't be the only person to face that. Its fundamental, its sacrosanct, its an integral part of the art of gambling. |
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Combination of factors could be responsible for the rallying but really, we have become so comfortable with this position to wanting to know a margin not up to $500 which at most didn't even stabilise and begin to look for answers to it. I have read about how the Chinese activities about devaluation of currency or how the trade war from America is causing some moves either way, the active move is done by the participants which includes you and me and its by our activities that would either sustain the market or makes it dump hard.
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I just want to discuss with you guys, what influences it will pose on the cryptocurrency if the trade war between US and China continues and maybe even worse. And also, what can ordinary investors do to avoid losses?
The issue of effect of trade war on the effect of bitcoin has been over-flogged already and several opinion has been made and positions given and this thread would not change it. The point is, if there is going to be any effect on bitcoin, we probably should have seen it already and so loud that it can be traced but now that the whole issue is expected to be resolved due to series of talks and negotiations, I don't expect any further effect whatsoever. Although, in my opinion, there is room for some marginal changes during this period but would not be linked directly to the trade war because even without any major thing happening in world economics or politics, bitcoin has been used to several increase and decrease intermittently. |
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An economy without taxes is one that is bound to fail. It just cannot work no matter under the guise which its going to be entertained. From time immemorial even before the advent of money as a measure for the payment of taxes or the understanding of the complex economics terms such as the impact of the GDP or impact on inflation or deflation as the case may be, taxes has been something human being have also paid in one way or the other because its a fabric that hold the society together. Not only to create money for people running government but also to maintain stability in the social economic strata.
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https://www.oddschecker.com/boxing/tyson-fury-v-otto-wallin/winnerWe finally have some odds. As expected this is a very lucrative fight, if you are insane enough to bet for an Otto Wallin massive upset. This guy doesn't even have a wikipedia page, so it would be a shock, an amargeddon in the boxing world. It would ruin the Deontay Wilder rematch just like Joshua's loss ruined the fight vs Wilder, but it would be 10 times worse since this guy is less of a contender than Ruiz. As a boxing fan let's just hope things go as planned and this is an easy win for Tyson. It should be easy money, get some extra bucks and that's all. If someone wants to bet on a Tyson loss, I guess it wouldn't be a bad idea to put 100 bucks or something that you can afford to lose just in case planets align and the disaster happens. I don't think I would want to bet on Tyson on this match. The reason is simple the enemy you know is less of an adversary than the one you don't know. A man with no wikipedia page to even understand a little bit about him taking on a Tyson signifies that there is more than what we can just write off as a nobody. For me Tyson is old, he should focus on his old age and his cannabis business which I have been reading is doing well for him and also think this match is predicated on his intention of raising funds for his cannabis ranch since its far from its intended completion date. |
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Politics seems predictable most of the time but looks like few people actually bet on it. Example, you know Joe Bidden has probably 50% chance of winning the Democrats primary. What stops you from picking and betting on that? Do you bet on politics and what are your winning stats.
Some time around October 2016 after the Access Hollywood tape was released, a certain betting site gave 108 to Trump winning the election. I believed strongly that Trump was going to win despite everything thrown at him. I had $5,000 and wanted to pick the odd. Somehow, I didn't follow through. That could have given me over half a million dollars in winning.
How often do you bet on Politics? Any reason why most people don't really bet on Politics? Do you know any trusted betting site that offers good odds in American Politics?
Betting on politics is also like betting on events and if its about politics, I can make a lot tons of money because my prediction is mostly right on both the national and the state level in my current country of residence. However, the concern is the availability of platforms on which to do that. Where I am, gambling is legalised although regulated but its mostly for sports platform and its e-sports counterpart other than that, there is no one else be it slot, or dice not to talk of events shaping betting... |
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We all on blockchain is the future and every all institutions and every country is adopting Blockchain ! Today i wan to ask if Can a Banking Sector can run transactions on blockchain without creating their own Crypto Currency? ..
Of course I have read about its implementation and not only in banking but also in shipping too, the same thing goes with database. Although, I don't understand the practicability because I am not a techie but its something that have been tested. Blockchain is a technology in my lay term to be regarded as a form of upgrade in other to make processes and systems operate in a more efficient and effective manner. |
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As I do trading on poloniex i tought that the bridge or Some Kind of centrality like between all the exchangers Will Help to keep volumes Up and it Will keep aritrage factor instantly between all the exchangers...
Can someone build Up this im Waiting thanks
To have a connector between exchange sites would not really work out because the moment that is put in place there won't be opportunity for arbitrage because the real beauty of arbitrage is for what a particular site is doing in terms of value is unknown to the other. Another factor is the security of each site and how do one convince the sites to allow a partial allowance for connectivity without concern that it won't be exploited for other purposes. What I can think of is having a kind of app with a platform that have access to spooling information on what selected coins are doing on their platform like a dashboard and it could make recommendations on which platform to visit and the potentials of arbitrage returns. |
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Its kind of funny though to see how successive governments that have come into play try as much to want to ban gambling and they have continually fail in it. I think what happens to majority of governments is those whose way of governance are guided by religious connotations and because the religious book didn't change they are forced to abide by it even though they themselves knows the potential of regulations and the amount of money that could be generated from such endeavor.
For the liberal ones, they are gradually changing with rules and regulations in place to ensure that its done within the ambits of the law.
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