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1  Economy / Speculation / Roger's last stand on: December 22, 2017, 06:21:00 AM
Drunk thoughts. This appears to be Roger's last stand. Or at least a stronger one than in the past. He got the PR machine going a couple of days ago, the spam attacks to the network keep coming, and the entire cryptoverse is starting to flinch - alts all going red. BTC is only getting stronger, though it's hard to spot. Coinbase has shown their true colors - they need to go away - they are no longer a part of the cause. The crazy fees are going to be the headlines until this clears up. Which it won't for a while since Coinbase won't implement Segwit since they are on Team Roger. Lots of FUD incoming - no worries.

Plan of attack:

Move your dealings from Coinbase/GDAX to Gemini or other Segwit exchanges for all transactions. This is a solid guide: https://www.reddit.com/r/Bitcoin/comments/7l9tda/day_2_i_will_repost_this_guide_daily_until/

Buy this dip - great opportunity for anyone looking to get skin in the game.

HODL - just another bump in the road.

Time to go nigh nigh - stay strong! The future is at stake...
2  Economy / Speculation / Front page of the BBC! on: March 03, 2017, 05:17:46 AM
http://www.bbc.com/news/business-39149475

So dumb, though - there are 15 million bitcoins and 5.8 billion ounces of gold. You do the math.

The upside of bitcoin is ridonkulous!
3  Economy / Speculation / Double your retirement moneyz the easy way - ETF-style! on: February 21, 2017, 03:13:03 PM
It seems like this ETF decision will be profitable to matter which way it goes. My plan:

Sell my current IRA/Roth IRA funds a couple of days before ETF news day. No capital gains to report - money ready to go.

If the ETF is approved, buy COIN as soon as it's available (when would that be?). Double my money within weeks.

If the ETF isn't approved, wait and buy GBTC after the big over-correction. Sell once it doubles and await the next ETF news.

Profit?
4  Bitcoin / Legal / Tax question - Lost my ass, but now feel like I have a tax opportunity? on: October 30, 2014, 04:41:10 PM
I cashed out some long term investments with significant capital gains in order to invest in Bitcoin. Sadly, I did this in the spring of 2014, so my basis is around $700 per coin and obviously I'm down around half my investment.

However, it seems like I now have an opportunity to offset the taxes I would normally have to pay on my long term capital gains by just selling my Bitcoins at a loss, record the loss on my taxes against my gains, and then rebuy my Bitcoins (HODL!). My new basis would then be the current price (~$340) and I'll be able to both offset the taxes owed on my gains, and deduct $3000 in losses per year for the next couple of years (until all the losses have been accounted for) if I don't have any more gains to offset.

Am I thinking about this right?

Also, moderators feel free to put this somewhere else if it doesn't belong here - Economics? Speculation?

thanks for any advice!

dan
5  Bitcoin / Bitcoin Discussion / How does someone with a single wallet with 30k coins not feel vulnarable? on: July 04, 2014, 08:07:07 AM
Think about it. 30,000 coins. A public key that everyone knows about now. And perhaps 10,000 computers guessing at the private key? I'd feel vulnerable.

that is all
6  Bitcoin / Legal / The IRS decision as it relates to ROTH IRA's - tax-free Bitcoin investment? on: March 27, 2014, 06:13:52 PM
I had $10,000 in ROTH IRA basis money (money I invested in a ROTH IRA acct and paid taxes on) that I pulled out penalty-free in January to invest in Bitcoin. My original thought was that I was going to treat this as a regular capital gains type investment - no tax shelter.

Now that the IRS has come out and said that Bitcoin investments are to be treated like stock market investments, it sounds like my $10,000 investment can grow and be cashed out tax-free since my withdrawal is really just a movement of my investment from one vehicle (the stock market) to another similar investment vehicle (Bitcoins).

Thoughts?
7  Other / Beginners & Help / Paper wallet - spending a little - what is the risk? on: January 29, 2014, 06:29:14 PM
Hi all - I have a paper wallet with a bunch of bitcoin, and I just want to send a little to my online blockchain wallet.

If I do this, and correct me if I am wrong, blockchain just sends the "change" back to my original paper wallet. Everyone says you shouldn't do this, but I don't really understand the risk. Everyone can see the public key of my paper wallet the second I load it, so why is there a risk in sending the change back to the same paper wallet and having my public key made public twice?

thanks!
dan
8  Bitcoin / Bitcoin Discussion / Critique my simple encrypted cold storage method on: January 22, 2014, 07:43:55 PM
Hi all - new to bitcoins, acquired some, and now want to take them offline into cold storage. I've read up on my different options and want to keep it as simple as possible. Here is what I'm planning to do:

Creating and loading the wallet -

1) Save to my HD the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate my encrypted paper wallet via the bitaddress.ord URL (running standalone).
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, I can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send my bitcoin to the public key of my paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain app on my android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually also).
2) The app will ask for the key I used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable.
3) Sweep the wallet into my blockchain online wallet (do I have to do this? or can I keep coin I don't want to spend in the existing wallet and just send whatever I need to the blockchain wallet?).
4) Send any bitcoin that I don't want to keep online into a new paper wallet, created in the same way I created the first one (might not be necessary - see 3).

Thoughts? What am I missing?

thanks!
dan
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