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341  Other / Meta / Re: Should merit be disabled on Bitcoin Wall Observer? on: September 04, 2020, 11:09:38 AM
If removing merits causes WO to die then am i not correct to assume its a merit farming factory?

It wouldn't make any difference at all. Proper merit farmers wouldn't last more than a handful of posts before being told to bugger off. That thread has the most experienced members who've seen every behaviour under the sun on here and they instantly see through empty members. If you don't fit in with the spirit of the thread you're not going to last.
342  Other / Beginners & Help / Re: Can StableCoin address of a CryptoCurrency exchange be frozen? on: September 04, 2020, 11:05:34 AM
I believe authorities can still freeze any exchange wallet if illegal activity is reported regardless on the pertext of investigation. Exchange can dispute or deny the request to freeze any wallet but generally they do not as they do not want to complicate their lives.  

It's not the authorities you have to worry about, it's the people issuing the stablecoins. Most of them will go hysterically overboard to look legit in the eyes of the law. And it's not just law too, Gemini have refused redemptions to 'protect our position on Coinmarketcap' so your money is worth less to them than having a nice large number on a crappy website.
343  Bitcoin / Press / Re: [2020-09-03] Bitcoin is now the 6th largest world currency on: September 04, 2020, 09:45:56 AM
All of the currencies listed would not collapse in value if someone offloaded 0.1-0.5% of the total supply for another one. Bitcoin would. Ergo this is a comparison that is meaningless and disingenuous at best. 
344  Other / Meta / Re: Should merit be disabled on Bitcoin Wall Observer? on: September 04, 2020, 09:39:58 AM
Is merit crazily distorted on that thread? Most certainly. Is it doing any harm? Nope.

A no mark scumbag with evil intentions to rank up wouldn't get anywhere. I doubt it would make any difference to WO poster behaviour if it was gone. It was handed to them and they ran with it. Many were already the most senior rank before the system arrived.

I've no idea what everyone's stats are about handing them out but hopefully some use that excess to splurge on helping lowlier members outside the thread to rank up.

345  Economy / Speculation / Re: sell now or you WILL regret it on: September 03, 2020, 10:46:19 AM
I'm sure everyone is very much enjoying your posts teleported live and direct from 2015. It gives newcomers a wee taste of what it was like back then while simultaneously being rather quaint.

As for present price, whatevs.
346  Bitcoin / Legal / Re: Would you move jurisdiction to avoid tax on your coinage? on: September 03, 2020, 10:29:28 AM
that's the dream, ain't it? to go live on a beach somewhere where taxes and cost of living are cheap. i haven't amassed quite enough riches yet myself. Smiley

I'd rather stay where I'm at but giving up that big a chunk is a motivator to think again. There's degrees of extremity. Some tax black holes are so out of the way or cabin feverish you'd probably spend what you were saving on trying to make it liveable, or bearable.

The tax havens I've been to all seemed a tad uptight and creepy. When the prime reason most of the population has to be there is money that's going to infect the vibe.
347  Economy / Speculation / Re: Institutional Money Observer on: September 03, 2020, 10:18:21 AM
does this count as institutional investors? before this stunt I did not even know that companies could invest their capital stock in bitcoin. they put in 50% of what they have. I think this is maybe the single best news regarding bitcoin this year.

Maybe I should've defined the terms or renamed it. I'd say any legacy money becoming a fellow Bitcoin shill should count and that certainly does. They've been around a for a long time. And any legacy operation offering platforms for the little people should count too.
348  Bitcoin / Legal / Re: Would you move jurisdiction to avoid tax on your coinage? on: September 02, 2020, 10:36:54 AM
If we look only at the EU, each country has its own attitude towards cryptocurrencies, and there are really few in which there are people in government structures who understand what Bitcoin is and how to apply taxes when trading the same. If a central bank says that Bitcoin is nothing (literally), then how will the tax administration collect tax on something like that? Therefore, in some EU member states, despite the new AMLD5 directive, Bitcoin is still under the radar and uses legal loopholes to avoid taxation - which will surely changed when someone realizes that there is room for taxation.

As long as it has a measurable value they will want to tax it. It doesn't need a legal definition as long as it's not explicitly illegal.

I find the radically different rules in each EU country kinda weird. You'd think by this point they would've started to harmonise it.



I am just kind of amused at how people from other countries find this a big problem to the point of contemplating of leaving their own place. I mean, your tax man must be doing his job diligently and efficiently.

It makes me wonder, is there really no way you can hide away from your tax man's snooping at your Bitcoin or crypto profit?

Of course you can attempt to hide it. You might get away with it. You more might be nailed to wall and have your life blown up. In most countries tax declarations are taken on trust. It's not often they look further but when they do they do not mess around. People pay tax for the sake of a quiet life.

I don't have any ties so going elsewhere is no big deal for me. It would be a bit different if I had 50 kids and a disabled budgerigar. Handing over an extra quarter of one's entire profit, if it happens, would be enough to motivate me to consider shopping elsewhere.
349  Bitcoin / Bitcoin Discussion / Re: Electrum update: A trader lost 1400 BTC on: September 01, 2020, 11:20:14 AM
I think putting your money in an exchange is quite safer than in electrum wallet with that amount since with exchange, they have more secured system and if the exchange is hack, I'm sure you will be compensated somehow as long as the exchange is regulated.

That's hideous 'advice'.

Most of the time it's you that gets hacked, not the exchange. Your exchange account will be drained and there's nothing you can do and it's certainly not the exchange's problem.

I also wouldn't want to put an exchange's own insurance to the test if it was hacked, not that many have proper policies anyway.
350  Bitcoin / Legal / Re: Would you move jurisdiction to avoid tax on your coinage? on: September 01, 2020, 11:09:24 AM
But such laws are changeable, and it can happen that someone moves to a country that has very favorable tax laws, and they literally become very unfavorable overnight.

Yes, especially with something as fast moving as this. A lot of jurisdictions are still dithering and edicts could arrive any time. I'd feel a right twat if I'd moved somewhere only for the rates to be jacked up.

I'm impressed at some of the rates in non tax havens but it seems a bit strange for those countries to let that much potential tax slide.
351  Bitcoin / Mycelium / Re: BTC Segwit Address Changed (Mycelium) on: September 01, 2020, 09:13:10 AM
Just asking for clarifications because I heared some issues about Mycelium before.

Most of the issues are with Mycelium on iOS which has been long abandoned. If you're on iOS then I wouldn't use Mycelium. Mycelium on Android is still actively developed and I've never had a problem with it.

And yes I have about 150 different addresses on my wallet but still happily receive coins on old addresses.
352  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs on: September 01, 2020, 09:09:09 AM
But actually the value of the "original" share will not be adapted or diluted. On the market regulators (if any Smiley  ) the original XEM will not start the day with a smaller value (because it "transferred" part of its value to symbol token).

Am I wrong ? Maybe I am missing something  Undecided

You're better off starting a thread on here and asking the same - https://forum.nem.io

I remember them talking about tax considerations influencing the nature of the snapshot and distribution process so someone official there, there's no one official here, should give you an idea. I can't remember myself.
353  Other / Beginners & Help / Re: Suggestion to Make at least $300 Worth of Bitcoin per Month on: September 01, 2020, 09:01:19 AM
It's a very common misconception that there are some special ways to earn money through Bitcoin. But in fact, the stuff you can do with Bitcoin, you can almost always do with your local currency. In the first place, don't forget that Bitcoin is just a different version of money. There's no secret way of earning money off it.

A lot of the world lives in places where wages are low compared to us corpulent white devils and opportunities are limited. What might be pocket money to us could be enough to run an entire life on a pretty comfortable basis elsewhere, however things come and go so rapidly on here I'd remain exceedingly conscious of that if I was fully dependent on earnings from it.

If I was a brand new account with a need to earn I'd have no idea where to start unless I had some already existing skills I could market, even then I'd be able to make much more from them elsewhere. There's the Bitcoin tax where it's acceptable to pay you 2-50x less for the honour of receiving payment in BTC.
354  Economy / Exchanges / Re: Kraken giving privacy coins the boot for Australian residents on: August 31, 2020, 08:16:49 PM
I also think the concept is amazing, and it's one of the things that's perplexed me in the last couple of years, i.e., why coins like Monero, PIVX, Dash, and whatever else is considered a privacy coin haven't caught on with investors--even most altcoin owners seem to not be too enthusiastic about them.  

Cos 99% of people here are only interested in more dollars.

That's the mistake XMR heads make. Many seem to think the rest of the world cares about what they care about. They do not. Not sure I'd count Dash or ZEC as proper privacy coins. XMR will no doubt have a future. I doubt it's going to be anywhere near top tier/sellout markets.
355  Economy / Speculation / Re: Institutional Money Observer on: August 31, 2020, 08:05:14 PM
If Wall Street dominates the spot market in terms of volume, the spot market may become a slave to it.

I think it's given they're going to wind up being extremely influential over price, if not commanding it. I was thinking more along the lines of actual control of the protocol itself. I wouldn't be surprised if we got a supercharged S2X at some point. Perhaps they won't find it necessary if they're pure paper but Bitcoin's nature is not a scenario they're in any way used to.

Even then it's easy for Americans to forget there's an actual world outside and this will trade all over it 24/7. There may be some surprise powerhouses that emerge. It may be seized by swarthy foreigners as an opportunity to show some muscle.
356  Bitcoin / Bitcoin Discussion / Re: When Bitcoin Maximalists are Promoting/Shilling an Altcoin on: August 31, 2020, 02:01:23 PM
I've seen this done by John McAfee he used to shill Bitcoin very much even telling people that Bitcoin will reach $20 k this year, only to call Bitcoin a shitcoin later on, this is really expected, these people just realized that there are a lot of money from creating your token from Ethereum and where the money is, that's where they go.

The difference here is that even McAfee himself will happily acknowledge that he's a drug soaked buffoon. The subjects of this thread have been casting down holy edicts, verdicts and decrees from their self appointed Mount Olympus for many years.
357  Economy / Exchanges / Kraken giving privacy coins the boot for Australian residents on: August 31, 2020, 11:57:58 AM
It seems slightly hard to find an official announcement on this but people are posting emails from Kraken to them telling them that Dash, ZEC and XMR won't be tradeable for Australian residents after today.

https://www.reddit.com/r/dashpay/comments/ij8xir/kraken_to_stop_deposits_and_trading_for_dash_xmr/

https://www.reddit.com/r/Monero/comments/ij54zr/kraken_ceasing_trading_in_monero_for_australian/

Do we reckon this is their banking partners or something from government?
358  Other / Beginners & Help / Re: How to be useful to the forum ? on: August 31, 2020, 10:44:01 AM
I was told by *someone* that in order to achieve something here, I need to be useful to the forum first.

Sheesh. Sounds like a lot of pressure to be put under. If I'd been told that was what I had to be when I arrived I probably would've buggered off.

Do I regard myself as useful to the forum? Would it somehow be degraded when I finally have that aneurysm on the toilet and disappear? Um, not really.

Forget about it being some sort of civic duty or obligation. That'll make you a boring and irritating poster and I do see quite a few like that. You can feel their consciousness of it seeping through what they write and it's rather gross to witness.

If you don't know something then ask about it. That's just as constructive as answering something. I've learnt plenty when someone's question casts a new light on a subject that I hadn't considered, and it may well be something I didn't know myself but had never gotten around to asking.

What you have that no one else on this forum has to offer is yourself. Be true to that. Find out your area of interest and pursue it. If you try to be what you think others want you to be no one will be fulfilled. And if it's not fun or informative and feels like a total slog then sit back and think about why. It shouldn't be and you won't last if it is.

359  Bitcoin / Press / Re: [2020-08-27] DCG is betting $100 million on mining Bitcoin in North America on: August 31, 2020, 10:19:38 AM
Trump, or rather his advisors(because I bet Trump himself doesn't know a damn thing about Bitcoin mining), should change their attitude as soon as possible, if they want to be the winners in the war. BTC mining should be subsided by government because only a few private entrepreneurs can tolerate the occasional price dumps. Like any relatively new forward-looking business, it should be supported by government to thrive.

Hell no. Let it live and die on its own virtues. No taxpayer is going to be delighted at paying some miner to make money. If they can't cut it then it's their problem and they have to make way for someone who can and that's how it should be.
360  Economy / Speculation / Re: Institutional Money Observer on: August 31, 2020, 10:00:13 AM
Bitcoin is not fiat and it would not be kind to them, it doesn't care if you are super rich, it doesn't care if you go down millions go down, it will destroy you if you try to do anything that it doesn't do, you just have to follow up as a company and respect what bitcoin is all about if you do not want to be destroyed.

Even people who've been in Bitcoin for years, and often from the near beginning, eventually attempt to impose their will on it and wind up getting pounded in the butthole. I'm sure institutional types will try the same and reach the same conclusion. Let's hope they don't use the money of others to make their failed stand.
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