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1  Bitcoin / Bitcoin Discussion / PayPal Integrating Bitcoin soon. on: June 20, 2014, 07:15:50 AM

No one in their right mind would use BTC to pay for anything on PayPal. The credit card chargeback protection has always been the front lines of consumer protection from seller fraud on PayPal. Buyer wins 99% of the time.

Most likely there's no way to tell how the buyer is paying. However if there was a way to require BTC payment, that would be a game changer for sure. Because PayPal's policy is not to interfere with intangible goods. Buyer is basically out of luck. Scamming will go the other way as sellers receiving PayPal payments will be secure from chargebacks.

Then there's the issue about withdrawls in BTC and having your PayPal account hacked.

Who will receive BTC payments? PayPal or the seller? It will be interesting to see how this will work at the end. Either way there's probably going to be scamming as usual.
2  Alternate cryptocurrencies / Altcoin Discussion / Altcoin Day Trading - Phone, Tablet, Netbook, or Laptop? on: June 10, 2014, 08:01:16 PM
I'm getting pretty serious at daytrading altcoins now and going to need a way to do it on the go.

What do you guys suggest? This is mainly for Bittrex and MintPal.

I like to trade for 1-2 hours at a time rather then 1 straight market order. I'm thinking like a cheap netbook or laptop. Mobile phone seems like too much of a pain in the butt. But intend to use the phone to tether.
3  Alternate cryptocurrencies / Altcoin Discussion / Altcoin Pump and Dump! on: May 19, 2014, 12:36:48 AM
Notify everyone here when altcoins are being pumped.

First of all: No debate on which altcoin is better. Use your money to talk. But don't talk to anyone else. Use PM for that.

List altcoin with a link to bitcointalk thread and a brief description.

Do not list every single random altcoin here. We need a criteria before it's posted here. So here's an initial criteria.

1. Any altcoin just listed on MintPal.
2. Any altcoin with 100+ BTC volume on Poloniex, Bter or Bittrex.
3. Any altcoin with lot of hype that goes live. Example: NEM.
4. Any altcoin that suddenly has high volume.

If your post doesn't follow this criteria, it will be removed with exceptions.

Ok. Let's make some money!  Grin
4  Economy / Service Discussion / Bitstamp USD Withdrawals - How long does it take? on: April 29, 2014, 10:47:30 PM
I withdrew $50 and it's said "Finished" for about 2 weeks now. How long does it usually take?

5  Economy / Service Discussion / Bitstamp Withdrawal Delays? on: April 25, 2014, 05:42:49 AM
Started a US Withdrawal on April 10 for $50 just to test this out. Bank has no record of it yet. Anyone else have an experience?

Where's a good place to withdraw BTC to USD for cheap? I don't mind waiting. I just want transparency.
6  Bitcoin / Legal / US Taxes - Form 8949, Turbo Tax and Importing Transaction data on: April 14, 2014, 06:58:42 PM
What's the easiest way to do this?

I'm using Turbo Tax and I have my Mtgox transaction history up to 2013.

I don't want to type out 1000 lines of transactions. Anyone have a good solution to this? I have briefly read that Turbotax can import a certain file type after converting an Excel file.

I got the data imported into but it fails at So I have an idea what my 2013 Capital Gains are and will probably pay the taxes based on that and file an extension while I figure this out. But has no print outs.
7  Alternate cryptocurrencies / Altcoin Discussion / IRS mining and Staking on: March 26, 2014, 03:10:51 AM
From the IRS article

Q-8: Does a taxpayer who "mines" virtual currency (for example, uses computer resources to validate Bitcoin transactions and maintain the public Bitcoin transaction ledger) realize gross income upon receipt of the virtual currency resulting from those activities?

A-8: Yes, when a taxpayer successfully "mines" virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income. See Publication 525, Taxable and Nontaxable Income, for more information on taxable income.

Now Blackcoin stakes like every 2 hours. Is staking considered mining? How the hell is this supposed to be calculated? This is the most ridiculous clarification ever as it applies to receiving coins rather than selling.
8  Alternate cryptocurrencies / Altcoin Discussion / Altcoin Profile site? on: March 25, 2014, 09:11:43 PM
Is there a website that automatically spotlights new altcoins that have potential?

I would have loved to hear about NXT, Blackcoin, Mintcoin, Auroracoin, Spaincoin when the discussions begin, but don't have time read Altcoin forum trying to figure out what's new and garbage.
9  Alternate cryptocurrencies / Altcoin Discussion / Sorry NXT, but is anyone else making a 100% PoS / No-mining altcoin? on: March 21, 2014, 09:04:07 AM
I'm good with a NXT clone with a different kind of distribution. Read suggestions of a PoW then changing into PoS.

Thanks. Grin

10  Alternate cryptocurrencies / Altcoin Discussion / Does an Altcoin like this exist? on: March 10, 2014, 07:19:43 PM
I apologize if some of my mining terminology is off.

Is there an altcoin that exists where the coins/block are random like luckycoin, but dependent on hashing speed?

Something like:
Awesome Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 5,000 to 10,000 range.
Ok Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 2,500 to 5,000 range.
Crappy Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 1 to 2,500 range.

I'm hoping this will entice the Average Joe to keep mining who doesn't want to be bothered with:
1. Mining the most valuable altcoin of the day.
2. Joining a pool.
3. Mining BTC and having no chance or joining a pool.
4. Still getting a little something regardless of difficulty and still a chance to "win lottery."

Basically something easy and simple like Dogecoin (But no 5% inflation to keep coins valuable), random block rewards of luckycoin, mining that allows the Average Joe to always get something with probability of huge coin rewards. Back when mining was integrated with the BTC client. Just one nice, simple package!  Smiley
11  Economy / Speculation / Mtgox: Question for those who sold BTC at the end on: March 01, 2014, 10:47:17 PM
My condolences to everyone who lost money on Mtgox. But I'm still curious as to why the price went from $1000 to $100. For those of you who sold in that range, what was your reasoning for doing that? Was it because you felt it was a safer bet if Mtgox went insolvent or panic selling? It appeared the majority of users here still believed Mtgox was solvent at the time. Again sorry for your loss if you lost any money. Sad

Right now after Mtgox declared bankruptcy, you'd think Mtgox price would be worthless, but it's still selling at around $20 USD.
12  Economy / Speculation / China Exchange Clarification before D Day. on: January 29, 2014, 10:30:05 PM
What is the current state of China deposits in exchanges? Seeing as how tomorrow could be a big day, I'd like to get some clarification on this.

BTC China - Currently Legal. They are using payment vouchers. No 3rd Party Payment Processors. No Bank accounts.
Huobi - Currently Illegal or Gray area?? Deposits processed as domestic transfers to a business bank account.

Do I have this right?

Also Jan 31  (Jan 30 8AM PST to Jan 31 8PM PST) will be the last day to withdraw CNY from a 3rd party payment processor, but most of them have already discontinued this process.

I'd like to keep speculation out of this and just facts if possible.
13  Economy / Speculation / What would it take for you to sell your BTC on Mtgox? on: January 28, 2014, 12:08:46 AM
I'm curious. Obviously there's a huge Mtgox arbitrage opportunity if crap ever gets fixed.

As someone who finally got out of there today, what will it take for you to sell your BTC there?

Here are some choices.
1. Announcement by Mtgox, all withdrawals fixed and being executed on Mtgox.
2. Announcement by Mtgox, new banking partner for US withdrawals.
3. Confirmation of withdrawals from others.
4. Your withdrawal from 6 months ago actually comes through.
5. You're done and never going back to Mtgox.
14  Economy / Service Discussion / New Merchants - BTC Refund Policy on: January 16, 2014, 09:10:32 PM
Looks like new merchants may have trouble whether to refund in USD or BTC. Generally tender received is the same as refunded. BTC can't be refunded as USD because of AML policies. A lot can happen to BTC in 30 days. I believe most merchants are refunding BTC based on current USD value.

Can anyone comment specifically on Coinbase, Bitpay and Gocoin refund policies? Differences?

Depending on the merchant refund policy, is it considered fraud to ask for a refund if you get more BTC back?
15  Bitcoin / Legal / Mtgox USD - Paying Taxes on: January 15, 2014, 01:36:53 AM
Seeing as how it's impossible to withdraw USD funds at this time. I don't see how Mtgox USD can be valued at USD. I suppose there's 2 options.

A. No Capital gains until it hits your bank account.
B. Mtgox USD needs to be converted to Bitstamp USD and pay taxes on that.

Thoughts? Technically this is considered disputed funds right?
16  Economy / Service Discussion / Mtgox fees on: January 07, 2014, 02:02:02 AM
Is this chart still up-to-date?

This is kind of ridiculous given $1000 USD /BTC

I'm thinking of switching exchanges.
17  Economy / Service Discussion / Exchanges - Rounding off your orders? on: January 03, 2014, 03:47:44 AM
Anyone know the answer to this for Mtgox and other exchanges?

I assume they round down. So my question is how do they round on your orders? What decimal place? There must be some optimal way to place orders to prevent loss when rounding based on fees.  Grin
18  Other / Beginners & Help / Advice for the new "Day-Trader" - Hedge Your Sleep on: December 20, 2013, 12:23:23 AM
And what I mean by that...

Sure you want to stay up til the wee bit hours of 12-4AM or pull an all-nighter to catch the bottom or sell at top. Here's some advice. Don't do it. Sure it's exciting, but don't let BTC ruin your life and get addicted.  Shocked

When it's time to sleep, put in your buy orders or sell orders. Space them out. And sleep on it. You'll get a good night's rest and maybe make some $$$ (or lose a) in the morning but at least you'll get to sleep on time! (I admit it's hard to clear your mind of BTC when trying to sleep)

Ok happy trading and now I will try to follow my own advice.  Grin
19  Bitcoin / Legal / Bitcoin - Capital Losses in US on: December 18, 2013, 10:28:20 AM
Let me know if I have this right for US Tax laws.

Anyone who sold $1000USD/BTC and rebought at $800USD/BTC needs to sell again before end of Dec 31 to recognize Capital losses. If they don't sell before Dec 31, then they'll be forced to pay taxes on $1000 USD/BTC capital gains and will only be able to deduct $3000 capital losses once per year starting next year.
20  Economy / Service Discussion / BTC-E Deposit - New Restrictions? on: December 14, 2013, 04:46:34 AM
Was this clause there 2 weeks ago?

"We don't accept international wire transfers from US Citizens or from US Banks

All transfers from US Citizens or US Bank will be refused by bank"

I just noticed this. But after I sent my money 2 weeks ago. Well it still hasn't come back to my account.
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