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1301  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin a Scam - No more on: May 16, 2018, 01:10:12 PM
I'm glad more people trust Bitcoin now, but that reputation hasn't really disappeared yet. People seem to be forgetting that just a few days ago, crypto people had their pitchforks out against Bill Gates and Warren Buffet for criticizing crypto lmao.

This won't disappear until "Bitcoin is an investment" turns into "Bitcoin is money". For as long as people use Bitcoin as a way to gain money, it will always have doubters. On the other hand, if it becomes widely used as an inclusive cross-border currency, no one will be able to shit on its actual real-world utility.
1302  Bitcoin / Bitcoin Discussion / Re: HONEST QUESTION: would YOU be tempted to manipulate BTC to make HUGE profits? on: May 16, 2018, 12:45:58 PM
Considering how many people get duped by pump and dump groups, I'd say a huge chunk of people wouldn't blink an eye at the prospect of gaining easy money even at the expense of manipulating the market. If it's not illegal, then it won't matter to most people if it's immoral.

Personally, I'm in Bitcoin for the long run so I wouldn't want to harm it by manipulation. I might go for a few shitcoins with absolutely zero future though lol.
1303  Bitcoin / Legal / Re: Selling BTC vs Borrowing with BTC collateral in US on: May 16, 2018, 07:08:52 AM
Is it better to borrow cash using BTC as collateral, or just to sell BTC?
In terms of the taxes in the US.
Selling makes income, income have to be declared and paid taxes of it.
Borrowing means no income = no taxes.

How do you plan on making this work, exactly? Do you plan on purposefully defaulting on your loan to essentially get earnings without directly selling? That might work in theory, but the collateral must have higher value than the actual loan in practice. You might lose more money in taxes than defaulting your collateral, depending on the amount, but it's really better to simply pay your taxes to avoid any potential legal complications. If you're going to incur fees anyway, you may as well go the (explicitly) legal route.
1304  Bitcoin / Bitcoin Discussion / Re: Tax Collector to Accept Bitcoin on: May 16, 2018, 06:56:57 AM
Great way for them to map out addresses with identities lol. I hope everyone who decides to pay this way uses a mixer or something to cut off the trail to their real wallets. Also, wouldn't using Bitcoins for tax payments be a taxable event in itself?

Interesting move nonetheless though. If this leads to an increase in collection, other states may follow.
1305  Other / Beginners & Help / Re: [GUIDE] Keeping your crypto secure: DOs and DON'Ts on: May 16, 2018, 06:07:30 AM
maybe never to anyone is too strong.
keep a copy in a private safe? (with instructions), let your family know about it.
we all leave someday.

Some people don't even trust their own family though lol. But yeah, sharing actual private keys is an absolute no, but telling a few trusted people about them may leave a little room for some flexibility. You're just going to have to live with the fact that you're opening attack vectors in exchange for solving future complications. There are other ways of handling such situations though, like leaving your safe's combination in your will (with no mention of Bitcoin because attorneys), with actual instructions inside the safe.

Do you suggest using Google authenticator or Authy?

Not the OP, but they're much better than nothing. They're not foolproof by any means, but I would personally choose to use them should an option to be given to me.
1306  Bitcoin / Bitcoin Discussion / Re: BTC's intrinsic value in history on: May 16, 2018, 02:08:55 AM
-snip-

a Ponzi scheme actually requires more centralization where someone takes your money as an investment and then pays the older investors from that money.
bitcoin price is set on a free market, if we starts calling this market a Ponzi scheme then everything else in the world is also a Ponzi scheme! every object is prices this way, it is not just USD

Oh, I completely agree. There is no clear singular benefactor to Bitcoin's rise in value, which should invalidate all arguments that Bitcoin is a classic ponzi scheme. People who claim that it's a ponzi mostly classify it as a "mass ponzi" (because purely in essence, it could be loosely construed that new members pay out older members) rather than a classic ponzi scheme though, so I don't think they're overly concerned about the centralization or lack thereof.

We know that argument is bullshit either way though, and there's no point arguing with people who have already decided what they want to believe. People love bending semantics to suit their narratives, so only time will prove us right at this point. Let the naysayers say nay.
1307  Economy / Economics / Re: What if Zuckerberg paid us a share of FB advertising revenue? on: May 16, 2018, 01:55:29 AM
they said they were looking into blockchain technology and that is not limited to creating a coin! there are a lot more applications for the technology than that. i have no idea how they are going to use it but one usage that comes to mind which can be close is a social media platform like Steem or a messaging one like bitmessage.

I acknowledge that and I completely agree. The topic is specifically about users somehow benefiting from ad revenue though, which Facebook gets when users engage with the platform. I just thought of an application closest to that. It wouldn't be dissimilar from games paying you in-game currency to watch 30-second ads. I don't necessarily like the idea, but it may benefit both sides if implemented well.
1308  Economy / Speculation / Re: Bitcoin faces 'death cross' after falling below $9,000 Read more at: //economic on: May 15, 2018, 05:03:30 PM
We've been nearing a death cross for months now. I thought it would have happened already:

https://www.cnbc.com/2018/03/28/bitcoin-is-nearing-a-death-cross-on-the-charts-heres-what-it-means.html

That article was written in March. As for how the last death cross was overcome, it's also in the article:

The last time the death cross pattern occurred for bitcoin was in September 2015. After the death cross, bitcoin rallied close to $500 by early November that year from around $230.

I'm not worried in the least lol. I'm not at all convinced traditional market analysis works on Bitcoin anyway.
1309  Economy / Economics / Re: Why BTC is tremendously undervalued on: May 15, 2018, 04:53:01 PM
Lately we have seen an increased demand for tremendously large blocks of Bitcoin. So much so, that we can't keep up with the volume that people and organizations are requesting. So what are the underlying factors?

Wait what? Increased demand for bigger blocks? What do you mean by that? People demanding a block size increase, or blocks just filling up in general? Fees have been pretty low for a while now, barring a few brief periods of spikes, so there shouldn't be any problems with transaction volume in general.

Can't keep up with the volume of demand? If that were true, we'd be on a tremendously bullish run, but instead we're stuck in a somewhat bearish market.
1310  Economy / Economics / Re: What if Zuckerberg paid us a share of FB advertising revenue? on: May 15, 2018, 04:11:23 PM
Using their product for free is our share. It wouldn't make sense for us to receive ad revenue when they were spent specifically to try to reach us. It would be somewhat like a hitman victim being paid part of the hit money because the hitman made money off him lol.

It's kind of an interesting concept though. With all these rumors about Facebook launching their own crypto, they could reward users tokens for internal services simply by being online and engaging. It would be kind of like mobile games giving users daily rewards for simply logging in.
1311  Other / Beginners & Help / Re: Pump and Dump on: May 15, 2018, 03:59:44 PM
Pump and dump for me is not legal, as I haven't seen yet any law that says it is, or am I just commenting blindly? At best it is unethical IMO.

Pump and dump is illegal, but only in its original context, where it's usually applied to the stock market. It seems to be free for all for cryptocurrencies at the moment (I haven't seen any ICO being shut down solely because of pump and dump), but I won't be surprised if regulators made crypto exchanges implement rules to prevent them, similar to penny stock regulations.

Some icos are even addressing this problem already.

Haven't heard of this yet. How are they addressing this problem?
1312  Bitcoin / Bitcoin Discussion / Re: BTC's intrinsic value in history on: May 15, 2018, 03:41:23 PM
Opinion 1:
BTC is a Ponzi schema, the reason why I accept it is because I believe there will be bigger fools to purchase it from me.
Answer:
In that point of view, US Dollar could be viewed as a much larger Ponzi schema. The reason why you accept US Dollar is because you believe someone else(or maybe everyone else) would accept it.

I don't believe that Bitcoin is a ponzi at all, but I don't think it's at all comparable to USD in this context. Bitcoin is said to be a ponzi because speculation drives its value up -- this is where the belief that some other person will buy it for a higher price comes in. That trait very loosely fits with the narrative that a ponzi is a scheme where older members benefit from the new members coming in. It's very different from a person accepting USD because it's legal tender, where there are no speculations involved.
1313  Bitcoin / Bitcoin Discussion / Re: Bitcoin's volatility is a non-issue on: May 15, 2018, 03:16:34 PM
I'm not sure what you mean that use of a payment processor defeats the purpose. The purpose is to increase sales and profits. If passing their bitcoins instantly through Coinbase for transfer to their bank account still results in enough more money to make the effort worthwhile, they would do it. I've made the point in other posts here that merchants might increase the feasibility of bitcoins by stipulating that there are absolutely no returns on bitcoin sales -- all sales final, and it would say so on the receipt. Also, bitcoin pricing could be highly flexible -- when the BTC price is rising, prices for BTC sales could be lower than the cash/credit-card price. When the BTC price is falling, such prices would be higher, maybe a lot higher -- ruthless pawn-shop rates.

What I was trying to say is that Bitcoin was originally meant, in part, to eliminate third party payment processors and the fees associated with them. Using a payment processor would be no different than accepting credit card transactions, in essence, with the need to trust a third party.

But yeah, if it brings business in, go for it. It's true that it's more viable now than ever, given the fact that you could instantly convert Bitcoins into fiat using payment processors. Consider this, though: if Bitcoin wasn't volatile, you wouldn't need to pay for their services in the first place, and you won't need to adjust prices and margins every time Bitcoin goes bananas.
1314  Other / Beginners & Help / Re: HOW TO RECOVER A DELETED CRYPTOCURRENCY WALLET on: May 15, 2018, 06:45:32 AM
~snip~
How to guide on DNotesEDU -  https://dnotesedu.com/2017/12/how-to-recover-a-deleted-cryptocurrency-wallet/
This is a nice guide but it won't work when you have formatted your PC or hard drive before doing the recovery process. It will also not work on wallet.dat files that was deleted for two years and above. That's why it is important to back up your private keys and seeds online in a secure cloud storage so that you can still recover it even if you formatted your PC. 

I would strongly advise against this. Secure cloud storage is only secure until it isn't. Storing seeds/private keys online somewhere makes retrieving it more convenient, but also opens up another attack vector. Storing them physically makes them impossible for hackers to get to. Robbers can still get them (only if they know about them too), sure, but if one enters your home, you likely have bigger problems.
1315  Economy / Speculation / Re: John McAfee Reiterates That Bitcoin with get to $1 million MINIMUM by 2020 on: May 15, 2018, 05:39:42 AM
-snip-

Can we stop this bullshit? He isn't going to eat anything, let alone on national TV. Why would a national TV broadcast such a gruesome act? that's just retarded.

He will do nothing, will just crack a joke about it and move on or postpone the deadline a couple years down the lane, that's all. Not even McAfee is stupid enough to do that.

And as far as the prediction goes, we are actually on track to get to $1,000,000 by 2020, you can follow the required price here:

https://bircoin.top/

So we are only 8% below, if we can get another ATH this summer and correct above that line we can actually do it, if we take a longer break we may not make it but we'll get to buy cheap BTC anyway.

Sad to see you missed the sarcasm and the fact that I was serious afterwards:

I would really rather take the money, but I'm sure seeing McAfee humiliating himself (either by eating his dick, or the more likely scenario, his words) would be pretty entertaining too.

You need to lighten up. It's pretty clear no one takes him or his words seriously. The dick eating is funny because he's not much more than a joke at this point.
1316  Economy / Speculation / Re: John McAfee Reiterates That Bitcoin with get to $1 million MINIMUM by 2020 on: May 14, 2018, 02:48:42 PM
Why all the hate? By 2020, we'll either be rich, or we get to see some arrogant asshat eat his own dick on television. It's win-win as far as I'm concerned. I would really rather take the money, but I'm sure seeing McAfee humiliating himself (either by eating his dick, or the more likely scenario, his words) would be pretty entertaining too.

But yeah, he has lost all his credibility after he came out as a paid shill. Who even takes him seriously anymore? Lol.

What people usually forget to add, and he does too, is that his prediction is based on Bitcoin radically devaluing the USD by 2020. It had better get its skates on because the USD looks pretty steady from here.

Did he say that? All I saw was that his prediction is based on point-set-topology (and other mathematical systems or so he says) or something.
1317  Bitcoin / Legal / Re: The Law of Blockchain: Beyond Government Control? on: May 14, 2018, 02:09:08 PM
It's beyond control like Bitcoin is beyond control. Its protocol and network, along with any future changes, are essentially government-proof because of its decentralized nature. Its use, however, could be regulated, and it would be the same for any blockchain applications that require government intervention.

I don't think the concern with ICOs is deserved, as the SEC has proven that it could stop major operations, with some foreign ICOs even refusing to serve American customers. Smart contracts are meant to make payouts convenient, but whatever it can do can also be done manually, so it doesn't necessarily encourage criminal activities.

It would seem the possibilities are endless and that the blockchain technology could revolutionize a lot of fields, but I don't think it will upend the current legal and social order at all.
1318  Bitcoin / Bitcoin Discussion / Re: Easy way to protect your computer from Bitcoin copy past virus! on: May 14, 2018, 12:08:31 PM
You only need a trusted antivirus with an internet security like Kaspersky for you to not be infected by the copy paste virus. If I were you, I wouldn't recommend Microsoft Security Essentials because it is still prone to other virus that steals cryptocurrencies. I also see no need to discuss this further because we already have the easiest way to be safe from that type of virus. Either way, thanks for this informative post.

Regarding Kapersky, the US government doesn't seem to like them. I'm not saying they're bad or that the allegations against them are true, but it's a factor you may want to consider before using their antivirus.

Either way, the best way to deal with these viruses is to not deal with them at all. If you're running Windows, it's very easy (and free!) to dual boot Linux, which you could use exclusively for crypto activities. Most popular wallets support it, so you won't run into any compatibility issues, and you're far less likely to encounter any malicious viruses in the wild.
1319  Other / Beginners & Help / Re: How much does an Airdrop cost? on: May 14, 2018, 10:05:23 AM
Well if you could provide details of throwaway accounts and stuff, that would mitigate most of the privacy risks. KYC is a huge factor though, and you should definitely not give away your information unless you're absolutely sure the project will be worth it. I personally don't bother with airdrops and bounties, and I certainly would never think of it if I had to provide personal details, but they do seem to work for some people, and they do seem to believe it's worth it. Different strokes for different folks, I guess.

I have to note that they're part of the reason why crypto is often dismissed as a scam though. It wouldn't be fair to say they're all shit, but those that are give crypto a bad reputation.
1320  Other / Beginners & Help / Re: Help on: May 14, 2018, 07:12:48 AM
I screenpic'd to a WORDdoc but I don't know how to load the WORDdoc on here. Tell me how.


You can't upload document files here. Since you're a newbie, you can't embed an image in a post either. The best solution available to you is probably to upload it to imgur or a similar service (make sure you blur out any personal details in the screenshot first) then link it here.

If you still can't do that for some reason, at least let us know which exchange you used so we could have a slight idea what happened. I'm guessing you somehow sold it below market value if you used a decentralized exchange, but I could be wrong.
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