Ok.
I've kinda had it with Coinbase, Kraken and Genesis (fuck Gemini... don't feel like jumping through their hoops for $25k minimum... I get enough backdoor action as it is...)
This rally has exposed, to me, the utter state of shambles the "major Bitcoin exchanges" are in for handling a level of action over $1M USD for personal accounts.
Talk about 0.1%'er problems, huh ?
Frankly, I'm really upset with how long it's taking me to get acknowledgements that it's "safe" for me to proceed at the level of play I'm looking for, at the various exchanges I'm "validated" at.
What more do they need from me, for Christ's Sake ?!?
Fuck.
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Holy shit wtf coinbase
That's a premium I just can't ignore. Off to +1 their userbase... |
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A bigger problem though is transaction clearing time, I just moved a bit to buy some equipment before end of year (tax deductible and I need this stuff) and it still hasn't confirmed.
If this keeps up I may have to use Litecoin.
Mempool is growing bigtime. Make sure to include a good fee for quick confirmation. https://jochen-hoenicke.de/queue/#24h |
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The poll is now looking bearish.
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But they need to SELL bitcoin to make cash on the short side?
They cannot sell it before they have it... unless they can lend them like with stocks
Nope. They really are just betting on the price. No bitcoin involved whatsoever. |
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on a log scale it looks like we're just getting started:  Yeah, look at how steep those rallies in 2013 were. This is so glacially slow this time. |
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Just buy some. Problem solved  Yeah, only about 700 BTC to go. Let me check the couch cushions. BRB... |
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Excuse me for maybe being a bit slow but can someone explain to me what it is that I have missed, to my mind a futures contract is just an agreement to buy/sell at a later point in time for a set price and so bitcoin will then be transfered at that date? How is that feasible without involving bitcoin?
This are "cash-settled". That means they're really just betting on the price. Neither side buys any bitcoins. http://www.wikinvest.com/wiki/Cash_settlement |
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Bloomberg has an article about hedge funds itching to short bitcoin:
Rekkage incoming... |
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Take for instance this case referenced in a linked article. Let's say that your boss gives you a paycheck and you put it in your desk drawer - and then you quit and forgot about the check. You still got paid. The check is still taxable to you even if you never take steps to cash it (such as replacing the check). In that case, you accepted the check. You took control of it, therefore it is taxable. But that's not how airdrops went. The correct analogy would be this: Let's say that your boss says he wrote you a paycheck, but he never gave it to you. Did you get paid? No, therefore it is not taxable. |
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I disagree. If I put money in a safe and say it's now yours, you don't have to declare that as income until you actually take the money.
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If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.
Those previous rallies felt much steeper than this one. Gives me hope! |
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For US taxes, you also have to probably declare Bitcoin Cash and Bitcoin Gold as income even if you never sold. Possibly even if you didn't get it yet, or possibly even if you didn't get it at all!
I don't see how they can make that argument if you never take control of the airdrops. |
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Is anyone still bored?
Yeah, I haven't seen a Bitcoinity gif in ages. zzzzz |
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But nobody is able to show me 10 transactions at a reduced rate, there are supposed to be thousands  More than half the mempool is transactions with 0-5 sat/byte. Spam. |
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I really dislike the current trend of BTC forks.
I will not be supporting these forks by not investing into or even looking at them.
A complete waste of time and causing so much confusion to the market participants.
Don't ignore them. Sell them for BTC and increase your stash for free! |
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Yup, people spamming low-fee transactions. |
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