Would obtaining a hardware wallet eliminate this kind of losses? I don't like this electrum feature which can expose your seed after you typing a password. They should at least use 2fa or similar. I would definitely get one if my wallet reach 2 btc (I promised myself)
Absolutely. That's the whole point of them. Control over your private keys is never exposed directly to the internet. The important functions are on the device which is air gapped. That's why I've never really understood why people recommend Electrum unless it's on a permanently offline computer. There are so many ways to access coins on a PC and you can never be sure it's secure. Same goes for blockchain.info. Your security depends on how solid your own machine is. I can't be sure so I don't mess with it.
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There's lots of theorising about Chinese folks heading to Korean exchanges. I really don't see how this is possible unless they stay crypto only throughout. It looks extremely hard for a foreigner to get fiat in and out of Korea.
If China had stayed in the game, and especially if the zero fee exchanges were still going, we'd probably be nowhere still.
China fucking off has been the most bullish thing in a long time. If Chinese miners all quit then we're golden, but they won't.
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It's not money until it's cashed out,
Again it depends on where you're at. If you're alt trading then you might well be liable for CGT even if it's never turned to fiat in certain countries. They can regard each trade for something else as a disposal. They may also decide you're that active that it's your income and hence taxable. It's a right old mess.
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I wonder how much more or less friction their new USD channels will have.
Assuming they're routed normally there's now no reason to going through Tether, if anyone actually ever did. Will this calm it down, stop it completely, or will their gay abandon raise even more questions if it continues?
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I know this is an impossible question, but I want you to look deep into your hearts and be honest with yourselves, no blagging.
Had you stumbled across BTC in 2009 and done a little mining would you have stuck with it or retained whatever coins you did mine?
Bear in mind that it was literally worthless and mining made your computer produce vile noises and would eventually probably break something consumer grade.
I've seen numerous posts from people who did mine in the very early days and deleted everything shortly after as they regarded it as a waste of time with no future, and at certain points it really did look like it was going to slide into nothing.
I for one am extremely anal about any type of file so I no doubt would have retained whatever crap I picked up over the years on the internet including a wallet.dat. What of you?
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And the dead disks, greedily holding their stash. Appreciating like crazy but never again to be accessed.
Aye, hardware death I can believe. There's a few publicly admitted instances of that on here. Perhaps there should be an anonymous site where people can confess to losing their coins so we get an idea.
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Technically, you create a taxable event each time you make a trade.
Aye. I've been pondering this. I'd love to get rid of all my fork coins but the idea of having to wade through taxation shite because of it is more than I can be bothered with at present. I'll either have to swallow it or wait until I can be bothered, by which point they may be worthless which is still fine with me. I've read quite a few people though who've consulted accountants in the UK whose accountants reckoned capital gains was only due when everything is converted to GBP. Others are adamant that any trade for any crypto is taxable. It seems impossible to know who is right or wrong as it's case by case.
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Just think of the dead people.
I just did. Statistically there must be a few, but other than that it would mainly be youngsters who diverted themselves from furious masturbation for long enough to do a bit of mining so the majority are still alive. I'd love to know what the peak year of coin losses would've been. It's easy to say 2009 but anyone mining back then would've been part of a tiny group and would hopefully have had the mindset to know it was going to go somewhere.
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I can well believe it's a shit ton of coins, but short of going around everyone's house and asking nicely whether they have private keys or not this is 100% guesswork for most of them.
We still occasionally see 2009 and 2010 coins moving. I'm sure there are plenty in their estimations that are perfectly accessible.
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Gdax and BFx getting ready to test $9700. This is moving too fast.
Let's get it over and done with. Once it's been done once the second time will be the sustainable one.
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Yup. This was my first lesson in if you don't control your private keys they ain't your coins. Probably lost a good ~50 btc when the 16 year old (no joke) running it got hacked/ran away. I don't think it had that big of an influence of price.
If you're feeling nostalgic you still give the same guy your private keys at Coinjar.
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IIRC they settled on Bitstamp until they were big enough to leave the nest. It was a weird sort of relationship.
Wasn't Bitcoinica the very first place you could play with leverage? Before my time so I've no idea what impact it had.
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I understood that they were USD settled. As in zero BTC contact, unless one used it independently to hedge the futures. Basically USD bets on the price of BTC, a good ol' derivative that can be used to control prices with unlimited paper.
Is there not a possibility that the 'real' Bitcoin market will simply ignore it and crack on? It's a market that has sprung up and thrived without the wonders of Wall St, and it's also something that requires no accredited bollocks and can be settled and owned for real by real people 24/7 across the planet unlike their countless other playthings.
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The perils of not holding are littered around this forum like burnt out cars after the apocalypse.
I remember when Bitcoin was back to $1000. Some guy was PMing me asking whether they should sell and walk away from crypto. I advised against it but I could tell that he was going to do it anyway. Look where we're at now.
Similarly I'm sure people were scalping alts like ETH before March thinking they were champs. Then it exploded. No doubt they were 'waiting for the dip' all the way from $10 to $400. They got a dip eventually but horrifically higher than they wanted.
Black or white positions almost always bite you eventually. If you really want to play then go do it but hold the majority.
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Its definitely positive. It means everyone with a brokerage account suddenly has access to bitcoin without having to deposit onto a third party exchange they might not trust, and they can go in and out of bitcoin trades next to their stock trades. It means massive liquidity. Think billions of dollars suddenly added to the finex order book. Possibly with leverage too. I posted on here some time in 2013 or 2014 a prediction that if BTC were to be integrated with standard brokers, the price would immediately surge to $10K. This is what the rally has been all about.
I was under the impression that CME futures did not touch Bitcoin directly at any moment during the entire process. It's USD all the way. Am I wrong?
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What the hell would you do all day?
Not pay tax.
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I wouldn't want to be that specific with year/price predictions, but I think by 2021 a price between $40-100,000 is conceivable assuming Bitcoin as a concept remains unified. Between now and then though there will no doubt be no shortage of alarming moments including the hangover from the current excitement.
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Where can you get the APK file for the wallet or do I have to have a google account in order to get it?
https://github.com/Samourai-Wallet/samourai-wallet-android/releasesGithub is where it's at for the cool kids who don't want to go through google play. Is this now a fully launched wallet? I haven't really bothered to keep abreast of anything.
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I'm complaining about this exchange, not making a speculation.
Which coin is this? Bitstamp is number 10 in volume with $80 million.
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