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1121  Bitcoin / Bitcoin Discussion / Re: Would We Pay Taxes When We Don't Exchange Bitcoin for Fiat Anymore? on: August 12, 2023, 03:47:39 PM
I suppose that in a country where a tax is imposed on the profits made from the sale of bitcoin, and to reduce the impact of taxes, your friend must be careful to choose the date of purchase, because buying the price of bitcoin is within $ 15,000 and selling at $ 100,000 is a good profit after tax deduction.

He can reduce his tax by exchanging bitcoin into any stablecoin and then buying bitcoin with that stablecoin, but this kind of thinking is risky because sometimes altcoin are unstable and may cause him a loss instead of a little gain + tax rebate.

It is not a tax advice, and my words may be wrong, because I do not know your country, and I do not advise you not to pay taxes, but to comply with their payment.
1122  Economy / Exchanges / Re: Are these BTC-Swaps legit ? on: August 12, 2023, 03:18:10 PM
Good day,
I have a question for you.

Are these cross chain swaps legit?

what you mean by legal, if you meant that it has a license to manage a financial activity, I don't think it. they claim to be decentralized However, they are exchanges that do not require KYC and may be closer to the idea of bridges between two blockchains.



Do you have experience with some of these swaps?
Are there any that I should avoid?
If there is a more trusted alternative and there is no reason to use them, what are you trying to do or what service do these exchanges provide and you are looking for it, we may find better solutions for you.
1123  Alternate cryptocurrencies / Altcoin Discussion / Re: SEC Appeal may take away XRP recent gains. Here is why on: August 12, 2023, 03:04:02 PM
It is very difficult to see the ripple in a price range close to one dollar, and I think that we have reached the top during this year, and in the best case, we may see levels near 0.8 dollars. If you are an investor or have bought soon, it is better to sell now and wait for levels below 0.6 dollars, because it will be a good start for the next year, in which I expect to reach 1 dollar easily.

The SEC news was a strong pump, but we won't see the same effect in the near future, so don't bet on it.
1124  Bitcoin / Bitcoin Discussion / Re: HOW DO WE TRANSFER BITCOIN WEALTH TO HEIRS AND THE NEXT GENERATION on: August 12, 2023, 02:33:34 PM
I see that this problem is easy if the wealth will be transferred to someone you trust, be it your wife or your children, but what will happen if you have several children and these children are different among themselves? Inevitably, a multi-signature address must be created, but then some may refrain from signing the transaction in order to They harm others, and then some of your children may not be able to obtain their inheritance, even a court ruling will not be able to force them. They can say they lost the private keys in a boating accident and then, after several years, say they have found them.
1125  Economy / Economics / Re: How can we improve our country's economy by on culture or ecosystem? on: August 12, 2023, 02:22:57 PM
The root of the problem is how to get rid of the debt spiral and start saving extra money and then learn how to invest it. In my area, many friends all dream of buying things with debt, a new house, a new car, or a tourist trip that is paid in installments, and after several months the person is surprised that he owes a lot Of the obligations, even if the salary is delayed for one day, he will need to take a loan, and here the real problem begins.
Learning not to buy something you do not need is the beginning of correct financial thinking, including investing in bitcoin and all cryptocurrencies.
1126  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin name services and L2 on: August 12, 2023, 02:08:07 PM
Hello!

I am new at the forum but been in the space since 2017.

I wonder what you think of Bitcoin name services for example https://btc.us/ and also the L2-network Stacks that it runs on. I myself is invested in them a bit, not as much as in btc ofc. I believe they could take off hard if bitcoin makes new all time highs.
If domain end with .btc, I do not think that it is something that will gain it value, it is like any other subdomain like .io, .ai,...etc, what will gain it value is if name is unique, so do not strive to collect more domains unless you have previous experience and you can expect if the domain is unique or have a value. I searched for generic names and they are all reserved.
1127  Economy / Trading Discussion / Re: How do I understand Bitcoin charts? on: August 11, 2023, 09:48:13 AM
Bitcoin charts are a simplification of changes in the price, whether this change is during a short or long time and taking into account supply, demand and psychological, the price of bitcoin follows the same pattern during a certain period of time, for example, within 4 months, you will find that the price of bitcoin is between 31k and 26k, this data They are presented in the form of charts to be easier to track and to build patterns on them in a more easy and faster way to understand. If you know the basics of technical analysis, you will easily be able to read charts.
1128  Economy / Economics / Re: No choice but to use the unavoidable middle man, the exchange companies. on: August 11, 2023, 09:22:00 AM
It is the main reason for creating Bitcoin. You do not need to trust a third party to exchange your money on your behalf, as this party must have full access to your account and exchange coins on your behalf. This trust is protected by government laws, but this does not prevent the misuse of these banks for deposits. Customers, which is exactly what happens in centralized exchanges, where the more money they get without regulatory oversight, the higher the chance of misuse.

1. a middleman who manages everything (your money and your exchange processes) - your centralized exchange-wallet of choice,
2. a middleman who manages only the exchange process - instant exchanges
3. a middleman who only manages the single most problematic thing: dispute management - P2P exchanges with human escrow, escrow services
4. no middleman at all - P2P exchanges without human escrow, e.g. atomic swaps or Ethereum token exchanges, person-to-person exchange, and some exotic ways like the exchange of hard disk space to crypto (via platforms like Sia), and of course the exchange of goods/services for crypto directly.
I think you are confusing here between a middleman and trust in a third party. All transfers that take place here are P2P, but there is trust in a third party.
So far, there is no real decentralized exchange between different blockchains, so we need to trust a third party.
1129  Bitcoin / Legal / Re: Control of wallets with a balance of $10,000 or more in the USA when buying good on: August 11, 2023, 09:12:56 AM
In the US, you are required to declare your purchases of cryptocurrencies and pay tax on capital gains and tax on the sale of cryptocurrencies.
But I know that in Miami you can exchange cryptocurrencies for cash dollars without asking private money changers. Therefore, not everyone is afraid of the tax, or only tourists do it. I don't know.
Apart from bitcoin and cryptocurrencies, trading amounts of more than $10,000 falls under anti-money laundering laws and sometimes leads to closing your bank account, it does not require special legislation for each state, but this amount varies according to the type of your account and according to the state or country.

https://www.irs.gov/newsroom/understand-how-to-report-large-cash-transactions

Quote
Although many cash transactions are legitimate, the government can often trace illegal activities through payments reported on complete, accurate Forms 8300, Report of Cash Payments Over $10,000 Received in a Trade or BusinessPDF. Here are facts on who must file the form, what they must report and how to report it.

What confuses me is everyone who knows that the total bitcoin in my wallet are equal to 10,000. it will be possible for the transactions, but without disclosure from the user, it is difficult to know the amount of bitcoin in your wallet.
1130  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Binance indirectly manipulative by promoting Tokens? on: August 11, 2023, 08:52:57 AM
Yes they do, Binance has the great ability to influence the price of many altcoins and tokens with low market capacities, and if it wants to, it can either through Launchpad or by showing it in the main menu. I remember that this is what happened with Shiba Inu coin. This currency is not much different from any other cryptocurrency other than that it has been promoted in a Good way, and I think they paid Binance for that or got a good percentage of it.

In terms of listing any cryptocurrency on Binance, developers pay for the inclusion of that currency, and then Binance makes great gains from listing, not to mention deals that may happen under the table.
1131  Economy / Speculation / Re: Adam Back's Bullish Bet on: August 11, 2023, 08:31:18 AM
But it might be different, because the bet might win.


Do you want to bet? Such bets are for fun and not a realistic prediction of the Bitcoin price, as there is no historical or economic data to support that.

Haha they should highly respect Adam Back not to give him the title "Bitcoin Jesus", which actually, Roger Ver was exposed to be the Bitcoin Judas.
First time to hear that the has considered as Bitcoin Jesus, because we have heard Bitcoin Moises, Lol. For sure, they're going to have some fun on this bet specially that everyone expects a very bullish bitcoin in the next coming months.
Search for his name in the forum, and you will find that everyone believes what he says without rethinking.

If he wins this bet, he will be the new "Bitcoin Jesus" in the eyes of some.
1132  Bitcoin / Bitcoin Discussion / Re: Bitcoin F*cking ETF on: August 11, 2023, 07:59:06 AM
All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?
Does Bitcoin need ETFs to be accepted globally or among people, rich or poor? Absolutely not, you can buy bitcoin in several ways, and it varies by country, and the rich can buy bitcoin through the OTC market. It is true that ETFs will facilitate the adoption of bitcoin, but without them, bitcoin is still working and adoption is still increasing.

Some Bitcoin ETFs are accepted in Canada and all ETFs that rejected in the United States.
1133  Bitcoin / Bitcoin Discussion / Re: Would Bitcoin at this Price limit its Global Adoption? on: August 11, 2023, 07:22:00 AM
Do not look at the price as one bitcoin, but rather 100,000,000 satoshi, and therefore if the price of bitcoin rose to 120 thousand dollars, then the satoshi would be equal to 0.0012 dollars, and anyone in the world could still buy bitcoin at such levels.

If we assume that the obstacle will be when the price of 1 Bitcoin is equal to 1 Satoshi, then this means that Bitcoin needs to rise sharply, which will not happen in the next 100 years, and most of all of us will not see this thing.

The biggest obstacle is not to sell bitcoin or to drop its price sharply, as everyone now uses bitcoin more as an investment than as a currency for payments.
1134  Other / Meta / Re: Whats your take on adding 2FA key as a Bitcointalk account security features. on: August 11, 2023, 07:10:28 AM


So why don't we add a Google authentication option as a security feature to the forum? This could prevent from account being stolen if the user never showed up after a long period of inactivity or his password has been compromised.
Recently, Google added the option of restoring the service by uploading data to the cloud, and certainly your data may be shared across several parties on the Internet. So Google authentication is bad for privacy and security.

As much as 2FA is important, but all the data in this forum is available to everyone, there is rarely anything of interest in PM, and the steps to recover the account are quick, hacking forum accounts is nothing more than sabotage activity or for personal reasons.
1135  Economy / Speculation / Re: Adam Back's Bullish Bet on: August 10, 2023, 09:16:16 AM
Is this a million dollars or a million satoshi? If it was a million satoshis, then we are talking about a bet of about $ 300 or, in the worst cases, less than $ 1,500. Do you think that such a bet is something serious?
This was reminded of the crazy bets that John McAfee was making and what's going on here is not that different.

Some tweeters consider Adam Back as the new bitcoin jesus. No one can predict what will happen to the price, but the bet on $100,000 came from historical data saying that after halving it is possible, but the price still needs several months.
1136  Bitcoin / Legal / Re: Control of wallets with a balance of $10,000 or more in the USA when buying good on: August 10, 2023, 09:02:04 AM
I do not think that anyone who buys or trades bitcoin for $10,000 will refuse to compete basic KYC verification. Whoever wants to buy bitcoin without spending it does not require to pay tax or prove his identity, but when he wants to sell, he will be asked for it.

Data such as the name, address, and government ID are data that some give to social networking applications such as Facebook, (which are known for selling data) in exchange for his page to return to work or to restore the Instagram account.
Tax evasion is a crime and many would be afraid not to try to tell the authorities what they have in Bitcoin.
1137  Bitcoin / Bitcoin Discussion / Re: Top Crypto Execs Confident SEC Will Approve Spot Bitcoin ETFs on: August 10, 2023, 08:37:40 AM
Bitcoin's rise after each halving is often accompanied by a big news that makes the bitcoin rise sharply, so the bitcoin halving big news may be an ETF, whether that is possible or not, but all the news at the present time is for media consumption, and when it is approved, the big difference will happen, which is something that if it does not happen, it will happen after the beginning of next year.

The current analyzes are to arouse the desires of the public, and it is often postponed on August 13, and the change of Bitcoin from the price of 28k to 29k is not linked to the Bitcoin ETF, which will inevitably lead to a price change of more than 50%.

The cost of removing that tattoo would be much less than the profits he made from promoting LUNA
1138  Bitcoin / Bitcoin Discussion / Re: Imagine creating something revolutionary and just leaving lol on: August 10, 2023, 08:20:05 AM
we do not know Satoshi, we cannot say for sure with a philosophical answer that has no meaning. He may have died, been killed, been arrested, lost his sight, had a big problem, or he just has enough money, or he does not want to show his identity, or or. This will remain one of the hypotheses that can last with us for a very long time and without a clear answer. All we will say are hypotheses that no one can prove or deny.

Think of every bitcoin that Satoshi didn't spend as an added value to your existing bitcoins, instead of 21 million bitcoins we have 20 million bitcoins which is good. if Satoshi appears, the value of Bitcoin may decrease.
1139  Bitcoin / Bitcoin Discussion / Re: Bitcoin is for everybody but we must accept it before it can be ours. on: August 10, 2023, 07:58:11 AM
On Bitcointalk I have seen topics that say Bitcoin is not for everyone maybe that thought is based on their own opinions, but I totally diagree with it, if I may ask who will see something good and reject it? No body, even if some people rejected it, it might be because of the laws from the higher authorities like government or military
Investing in Bitcoin is not for everyone, as any Bitcoin asset is a high-risk asset and can lead to a loss if you do not know when to invest, so it is not an investment for all people. Saying that Bitcoin is for everyone, I believe that we have shifted from a cryptocurrency to a religious or economic idea, and Bitcoin is not believed to be a religious or economic idea, and cryptocurrencies should not be so strict.

If you have money that you do not need in the next three months and you know the risks associated with Bitcoin and are willing to take it, then Bitcoin is right for you.
1140  Alternate cryptocurrencies / Altcoin Discussion / Re: Earn an apartment in a bear market on: August 10, 2023, 07:24:32 AM

Is it risk-free to buy BTC and ETH?

After Paypal launched a cryptocurrency based on the Ethereum blockchain, there is a definite demand for this currency in the short term, and its success in attracting projects after converting it to proof of stake will increase people’s trust in investing in it. it is the best alternative if you do not intend to invest in Bitcoin or you are You would expect that there is an asset that will perform well against bitcoin or a better  smart contract cryptocurrency at the moment.
Bitcoin needs more introduction or much talk.

Investing in these two cryptocurrencies guarantees the least losses and a good percentage of profits. It may not be the highest profits, but good profits with reasonable losses compared to other cryptocurrencies.

Paypal launches an Ethereum-based Stablecoin!
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