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1  Bitcoin / Wallet software / Lightning-C - coins in limbo [RESOLVED] on: March 17, 2021, 04:16:50 PM
I issued a withdraw command with low fee, and the transaction was broadcasted, but miners didn't include it in blocks. But I can't withdraw again with a higher fee, it gives me error 301 - the coins have been marked as "spent". Listfunds shows empty wallet. The question is how to salvage the coins.
Should I clear bitcoind's mempool, will it help?
2  Economy / Service Discussion / $1200 disappeared in Coinbase on: January 21, 2017, 07:25:54 PM
I was stupid enough to try to pay for CheapAir ticket in Bitcoin. Transaction went through and confirmed but the merchant never received the USD. CheapAir support knows nothing about bitcoins, coinbase doesn't have phone support and doesn't reply to emails. Lesson: never pay BTC to any merchant that uses coinbase as payment processor.

EDIT: I don't have any account with coinbase, just CheapAir happens to uses them as bitcoin payment processor.
3  Bitcoin / Legal / Legalization of Bitcoins on: June 07, 2016, 12:50:18 AM
My friend holds some bitcoins from long ago, some bought on MtGox, some mined with Deepbit mining pool, and keeps them in a Trezor. But he would prefer to keep them in an official institution, like Circle or Coinbase, for insurance, security and estate planning reasons. The question is, if he deposits it into a Circle account, what's his immediate tax liability? He can't really prove anything about the origin of coins. He has a few emails from Mtgox and Deepbit, but these emails are easily forgeable and don't even account for all of the coins. Does that mean he has to pay 39.6% + state tax + social security + medicare etc?

Moreover, these coins have been bought/mined while being a resident of another country, and imported into US (though again, there is no proof of it). As far as I understand capital imported by immigrants is not taxed.
4  Bitcoin / Legal / Bitcoin tax examples on: June 06, 2015, 02:48:51 PM
I'm trying to summarize my knowledge of Bitcoin tax rules in a series of examples, please correct my calculations if they seem wrong.
Calculating US federal taxes, assuming marginal tax rate of 25% and long-term capital rate of 15%.
Negative tax liability numbers mean you receive a refund from IRS.

1) Bought 1 BTC at Coinbase for $1000, sold 1BTC at Coinbase for $1200.
    Tax liability = ($1200-$1000) * 25% = $50

2) Bought 1 BTC at Coinbase for $1000, sold 1BTC at Coinbase for $200. Total capital losses for that year are less that $3000.
    Tax liability = ($200-$1000) * 25% = -$200 (refund)

3) Bought 1 BTC for $1000 from a stranger without receipt, sold 1BTC at Coinbase for $200.
    Tax liability = ($200-$0) * 25% = $50

4) Bought an ASIC miner for $500, mined 1 BTC during the year, and sold it for $1000, burning $100 worth of electricity in the process.
    Tax liability = ($1000-$500-$100) * 25% = $100

5) Bought 1 BTC at Coinbase for $1000, sent it to your own Mycellium wallet, exchange rate at date of the send is $1200.
    Tax liability = ($1200-$1000) * 25% = $50

6) Sold pizza worth $20 in 2010 for 10,000 bitcoins, sold bitcoins in 2015 for $200 each.
    Tax liability = (10000 * $200 - $20) * 15% = $299,997

7) Mined 1BTC in 2011, have email from Deepbit mining pool to prove it. Sold in 2015 for $200.
    IRS argues email is not a valid receipt, charges highest rate.
    Tax liability = ($200 - $0) * 25% = $50

5  Economy / Trading Discussion / Blockchain as stock pumping platform on: April 07, 2014, 12:07:23 AM
I think one of main problems in stock pump and dump schemes is that market participants, not trusting each other, should decide what to pump and when. This is a variant of Byzantine Generals Problem. Often, the solution relies on a leader who tweets stock picks (see, and if enough people trust him, pump and dump will succeed. But this has a centralization problem: the leader could be tempted sell his picks to paying customers before the announcement is made, or he can be arrested by authorities, because pump and dump is illegal of course.

Now imagine a "pumpdump" blockchain, miners would mine for the solution and for the right to announce their P&D stock pick. Miners are incentivised to select good P&D candidates, because if no one joins, their mining effort will be wasted. That blockchain doesn't have to have a separately valued "coin" associated with it, the incentive here is to get others follow your pick and benefit at the "dumping" stage.
6  Bitcoin / Bitcoin Discussion / A little known Bitcoin Faucet on: April 05, 2014, 12:33:38 AM
To get free bitcoins (about 0.1BTC is distributed every few hours), go to site JUST-DICE.COM and enter the chat room. This is one of many dice sites, but it has one interesting feature: winning players often donate a portion of their winnings to the so called "rainjar", and there is a "rainbot" running, which distributes coins from the rainjar to random chat members at random times. All you have to do is be present in the chat room and be active, i.e. post a few comments here and there (can be automated I believe).
7  Bitcoin / Legal / How to argue long-term capital gains? on: February 27, 2014, 08:14:19 PM
It's relatively easy to claim BTC earnings as short-term gains or as regular income; you pay maximum tax and IRS is happy.
But have anyone tried to file BTC gains as long-term capital gains? I would think you need some kind of proof of purchase price and of purchase date. What is purchase price for mined coins? How to prove purchase date for coins bought on localbitcoins, and moved many times between different wallets? What if IRS looks up the blockchain and says: here, you received coins to that address 1 month ago, no long-term for you!
8  Economy / Currency exchange / deleted on: November 30, 2013, 10:06:51 PM
9  Economy / Services / Need image processing service on: September 15, 2013, 07:43:11 PM
I have 257 scanned JPG images from a family archive, each image should be cut in four and each of 4 parts should be rotated by 90, -90 or 180 degrees.
Information loss, such as JPG re-compression, should be avoided if possible.
One way to do that is to use JPG lossless crop and lossless rotate in IrfanView.
Payment will be sent after work is done. We can do it in small batches, if you don't trust me. For example, you process 10 images, I send you (10/257) * <agreed price> BTC.
Please quote your price and delivery time estimate. My estimate it should be around 3-4 hours of work and ~0.8 BTC.
Bidding will end 24 hours from now.
10  Other / Off-topic / Interplanetary trade on: May 26, 2013, 07:41:13 AM
My friends at the Trade Federation expressed a concern.

Assuming Bitcoin network is Earth-based, confirmation of a transaction conducted at a nearest star (Proxima Centauri) will take 8.44 years, whereas gold or US Dollar can be exchanged instantly at any location. How can we overcome that limitation?

11  Economy / Goods / [WTS] BFL Single 150BTC on: May 07, 2012, 01:59:23 AM
This is revision 3, unopened in a box.
Local pickup in Phoenix AZ only. Won't mail.
You either pay BTC in advance or bring $750 cash and get the box.
12  Economy / Goods / Unused BFL Single, Revision 3, 200BTC delivered in USA on: April 15, 2012, 07:00:28 AM
I have just received my Butterfly Labs BitForce SHA256 Single.  The shipping notice says Rev 1 but Sonny K told me in email that this would be a Rev 3 system, the same board as in the multi-unit rigs.

I have not used it yet, and will wait until Monday morning PDT to fire it up.

I'll ship USPS priority with tracking info and am willing to escrow (your cost) based on delivery confirmation.

Now for the obvious questions:

1) Why would you pay 200 BTC, putting the initial capital cost so high it would never break even?

I'm assuming a lot of people are evaluating FPGA mining infrastructure going forward.  Due to their long lead times, it's tough to commit to placing a large order, either for singles or rigs, without an evaluation first.  This unit will allow you to start your evaluation next week so you can either decide to cancel existing orders, have faith in your pending orders, or make or increase your allocation for additional hashing capacity from BFL.

You can also rip it apart and reverse engineer it or whatever you want.  It will be yours.

2) Do I guarantee it is operational?

No.  I will only guarantee shipment, as I have not powered up the device.  All warranty issues will be based on BFL's six month warranty.

3) What is the shipping origin?

Phoenix, AZ, USA

4) Why should you trust me?

You shouldn't trust strangers on the Internet.  However, I'm relatively transparent and easily located.  Most of the highly-rated or respected heavy hitters can find me.  I recommend that you put in place whatever safeguards you feel necessary to mitigate the possibility of fraud.  Again, I am willing to defer payment via escrow based on USPS proof-of-delivery (the tracking number will be shared with the escrow agent and yourself when the unit is shipped).

5) Is the price fixed?

I pulled this number out of reeses's arse.  However this price is fixed.
13  Bitcoin / Mining / Cucumbers vs weed on: October 24, 2011, 09:51:25 PM
As bitcoin rigs become unprofitable to operate, some new ways are to be found to supplement miners' income.  One such way is to use the heat produced by the rigs to grow an agricultural substance. There are two kinds of plants which immediately come to mind - cucumbers and marihuana. Both products should be quite popular with middle-age hippie girls.
What do you think is preferable?
14  Bitcoin / Bitcoin Discussion / Is Bitcoin legally anonymous on: August 05, 2011, 02:02:06 AM
So every transaction can be traced to its origin. If I connect to the network through TOR and generate 50 BTC, and then buy some substance with it, it's very hard to trace that to me. But even if I bought coins at an exchange, and they, as required, have  verified my identity, I can still do the following:

- create another wallet (possibly online, like instawallet)
- transfer some BTC to that wallet
- buy substance with that second wallet
- erase that second wallet

now I can always say in court that I paid some other guy for his service (drug withdrawal consultancy?) and that's him who later bought the substance. While obvious lie, can that be considered a proof beyond reasonable doubt that I indeed bought the substance?
15  Bitcoin / Project Development / Bitcoin Ltd dissolved on: July 10, 2011, 04:13:15 PM
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