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1  Other / Beginners & Help / Re: Why 21 Million? Why that number? on: March 13, 2021, 09:02:14 PM
One additional, more romantic reason...in addition to the block award math listed above.

Quote from: According to Mike Hearn and email correspondence he had with Satoshi
Similar to cents for a dollar, a satoshi is the smallest unit of Bitcoin. There are 100 million satoshis in each Bitcoin, which means there will only ever be 2,100 trillion satoshis roughly the same as the global supply in 2009. Based on this, Bitcoin would be well suited to replace all fiat currencies and have the ability to act as a global currency.

SOURCE: Why are there only 21 million Bitcoin?
2  Other / Beginners & Help / Re: [Study Purposes] How can we build our own ecosystem? on: March 13, 2021, 08:48:02 PM
Welcome to our world!

Another way for you to begin your education is to read the whitepapers for the coins that are popular, showing progress now. They'll explain the technical aspects which will help you understand where or how their developers are thinking about each project.

Here are links to several cryptocurrency whitepapers:

One ask of you, come back to this forum and share what you have learned. We all need to learn from each other.

Happy reading!
3  Economy / Speculation / Re: First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today on: March 13, 2021, 08:30:18 PM
Some people from California were claiming on Reddit that they got their "stimmy" yesterday. I doubt that action is driving a $4k plus jump over the night in the US. The voices online talking about dumping their check into crypto or wallstreetbets are loud and numerous but when compared to the amount of money they can actually devote to the market (and affect price changes) it's minimal. But it's impossible to know for sure.

The only thing that is certain is that Bitcoin (and all crypto) is a truly global market...all day all night. Anything we believe locally could influence Bitcoin is actually going to have less real impact on the price because of this global factor.

What's more likely is that another institutional buyer decided to go in or "buy the dip" and they submitted that transaction at the start of the weekend when other corporate competitors wouldn't be poised to respond.

Just my BTC0.00000033.
4  Economy / Collectibles / Re: [Ended] Casascius 2011 Coin V2 1 BTC (Loaded) on: March 13, 2021, 09:34:27 AM
Here's the problem with selling these as I see it. A short essay.

When are we going to see one of these coins show up at a major auction house - one that deals in art and coins and the like? That feels like the only way to auction these for the premium they deserve.
5  Economy / Economics / Re: holding bitcoin from early 2010 till today on: March 13, 2021, 09:27:33 AM
If you were mining in 2010 and didn't lose your keys or get wiped out by Mt Gox (which would have been easy, because they were the easiest/only online wallet option at the time) you have to have some of your coins hanging around.

I can't believe that anyone who was here in 2010 would have sold everything at any of the peaks we've seen. If you were here in 2010 you were mining, which means you likely have 100s or 1000s of coins. It's easy to do well taking some of that off the table when we hit $1000, $10000, or $20000 and leave more in the wallet for the "rainy day" that is 2020-2021.

I hope that most people who were involved in 2010 had an honest belief that we could see what we see today. That the vision could become reality. And cheers to those people and their stealth wealth!
6  Economy / Micro Earnings / Re: FreeBitco.in-$200 FreeBTC🏎Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: February 15, 2021, 11:05:37 PM
Fine Free BTCo.in People...

What do you spend your RPs on? I have a few burning a hole in my pocket. So as I window shop, which choice should I make?
7  Other / Beginners & Help / Re: So how do i make daily20- 40$ here ? on: February 14, 2021, 06:28:14 AM
Why must making this money happen here, on this website? Why is that your requirement?

Too often people confuse the idea that the only way to earn bitcoin is to do something on a bitcoin forum. That's totally false and a slow way to get your hands on some BTC. You need to figure out how you can make your $20-40 in the shortest amount of time or effort in your world. Then use that money to buy Bitcoin or Litecoin or whatever. If that fastest way is on this site, great, but don't limit yourself.
8  Other / Beginners & Help / Re: How is tax calculated on crypto currency conversions? (general question) on: February 13, 2021, 05:40:54 PM
OP..you're doing it correctly. And converting your trades back to a single base currency - GBP in your case? - allows you to easily understand your gains and losses and determine your net tax obligation.

Does GB have different rates for long-term vs. short-term holding periods for the taxes on those gains?

The tax calculation will vary in each country. That is the first thing you should know.

The only thing that varies by country is the actual tax rate. The calculation, the formula is the same.
9  Economy / Economics / Re: Mastercard Bitcoin Global Adoption? on: February 12, 2021, 06:28:07 PM
More details at this article - Mastercard will support cryptocurrencies

The article states that Mastercard wants to use the USDC stable coin to facilitate payments. Any benefit for "bitcoin" is through the positive media this produces, the acceptance of cryptocurrencies as a thing (not a fad).

What Mastercard is trying to accomplish speed and cost efficiency of transactions not using bitcoin...and let's not give them any brilliant credit for finally realizing that the world's payment/transaction system is incredible antiquated. I mean all of us have known that cryptocurrency and blockchain is the much needed innovation for the financial system for close to ten years now. It's great that big banks are finally accepting this reality and willing to take action.

I'm excited that this is happening, but let's not assume it'll directly increase the price of any particular cryptocurrency.
10  Other / Beginners & Help / Re: BTC cash on: February 10, 2021, 07:27:45 PM
You want to launder BTC into cash...so you want your BTC to be "scrubbed" clean of it's source and journey into becoming cash. The only way to do this would be to put the BTC into a cold wallet and then sell that cold wallet to someone for cash, where the negotiation and transaction occur in person (to prevent any online record of the discussion).

You could use a bitcoin mixer to scrub the source of the BTC before it hits that cold wallet, but that would only be needed to protect the buyer of your coins, not for you personally. Because once you sell that cold wallet your connect to it is gone.

What you're trying to avoid is the record of exchanging Bitcoin for cash and depositing that cash into a bank account that keeps records of such transactions.
11  Economy / Services / Re: [OPEN SPOTS] ChipMixer Signature Campaign | Sr Member+ on: February 10, 2021, 07:22:22 PM
There *might* be another acceptance next week. There's a pretty large number of changes and I'd like to see how the campaign looks a week later before deciding.

In the spirit of this potential opportunity...

Username:  HabBear
Post Count:  3643
BTC Address (must be SegWit):  3DfHGuKt7vNaH4186YXf9FPF8kEdPEKD9c

Thanks, DarkStar_

12  Other / Beginners & Help / Re: WILL BITCOIN BE ACCEPTED AS A MEANS OF TRANSACTION IN THE WORLD on: February 09, 2021, 11:40:10 PM
The market has had 10 years to decide the answer to this question...Bitcoin is an asset, a store of value. Bitcoin is not a currency. I mean it can be used as currency, but it's not going to be a widespread currency, the world is not going to turn into "Bitcoin Accepted Here!"

Why?
  • Currency needs to be stable in value, e.g., a liter of milk needs to cost tomorrow what it cost today, and Bitcoin's value is way too volatile for that
  • uhh...that's the only reason, really

There are other tokens that are designed to serve as currencies, properly. Ripple and Lumens are precisely designed for that purpose. Ripple and Lumens may go up in value - i hope they do! - but likely not in the extreme ways we've seen with Bitcoin.

Forever be hodling!
13  Economy / Services / Re: [Open] ▄■▀■▄ 🌟Bitvest.io🌟 - Plinko Sign Camp (Member-Hero Accepted)(New2) on: January 14, 2021, 06:53:38 AM
User: HabBear
If you Missed this part mate , I'll let you have it infront of You to Have Update

Since Brainboss is Taking Out Accounts with Red trust so i'm Sure there will be no chance that He'll Add one again in the near future.

Just sharing my thoughts for your Future Bitcointalk Venture.

I rarely miss something. I don't have red trust. I have neutral trust through level 2.

Also, the rules clearly state:


--------------

All that said, the negative trust that I have received (one recently) are baseless. I've never transacted anything with any of these people. I've never violated the rules of this forum. I'm a victim of abuse of the trust system. People do that here, which is why there are trust levels to mute the voices of people who are abusing the system.

I'm sure the campaign manager here will make the best decision, adhering to the rules they've set forth.
14  Economy / Services / Re: [Open] ▄■▀■▄ 🌟Bitvest.io🌟 - Plinko Sign Camp (Member-Hero Accepted)(New2) on: January 14, 2021, 01:07:09 AM
User: HabBear
Position to Apply: Hero
Posts Start: 3641
Address: 342PvrMoVnhfbqxxVJJjo5MWoG3zvjacUt
15  Other / Beginners & Help / Re: Unpaid Capital Gains Tax on forgotten exchange accounts on: January 14, 2021, 12:56:57 AM
Are you sure you were selling for gains? You start your story with buying at the top. If you sold for losses we're talking about capital losses and you bought back in within 30 days you won't be entitled to those losses anyway.

How much did it go down from your original buy to your trading zone. It's possible that your original losses would exceed any smaller gains you had in your trading zone. And it's good of you to settle up, give it your best effort. Don't sweat it too much if you cant get this information back, the IRS isn't likely to chase you down, especially if your original losses would minimize any gains they could tax.
16  Other / Beginners & Help / Re: How to sell casascius coin as a beginner on: January 13, 2021, 05:37:29 AM
I am a bitcoin noob who happens to have an unpeeled Series 1 Casascius coin with the spelling error hologram, and I'm looking to sell it for slightly more BTC than face value (Someone on Reddit told me it may be worth 1.3btc).

Error coin, nice! You should share some pics. There's nothing on the coin or it's hologram label hologram up that is sensitive information.

I've never sold a Cas coin, only bought, but i've followed the market quite a bit over the years.

  • How do I make contact with an Escrow, and who to trust?

Here's the list of reputable escrow providers:    
★LIST★ BitcoinTalk's ESCROW Providers


  • How do I prove my own trustworthiness and coin legitimacy

You need to provide pictures of the coin - both sides, high quality, the more the better. In the past people would get these coins graded but i'm not sure that happens much anymore and it's not required for you to sell your coin.

There is a site where we can verify that your coin is loaded with BTC, just go to Casascius.uberbills.com and enter the prefix of the address found on the hologram. This will verify that the coin's address still contains BTC.

  • How do physical hand-offs work in Corona-time?

Latest health official guidance is that coronavirus can't contaminate objects as originally thought at the start of the pandemic. BUT...buy a plastic coin case (from any coin shop) to put your coin in if you want to protect/preserve any germs from getting on the coin. Allows anyone to sterilize the outside of the case as they deem appropriate.

  • How long should I expect it to take?

This is a big sale, be patient with the timing. The escrow provider can also help you with writing the post or running the auction, if you want them to. Most auctions come with a duration, however you could set a minimum sale price at the start to ensure your upside.

  • What scams should I look out for as a noob?

Don't buy or sell via eBay, nor in person. eBay is easier for sellers but you aren't totally protected from not getting paid. And if you meet someone in person you could get killed...there were stories years ago about people getting robbed when meeting in person to sell bitcoin.

If you keep your deal at bitcointalk and use one of the reputable escrow providers you'll be in good hands.

Personal Thoughts - the error coin could command greater interest because of its novelty, first issue and error status. I would test the market with an auction that has a minimum that's high enough for you to cover the fork coin value and whatever premium you want. This protects you from taking a loss (from fork coin value) if interest is low. You can always strike a deal with the highest bidder if that person came close to hitting your minimum. If bitcoin really goes the distance i believe these coins will be be truly collectible in numismatic circles, and if that day comes I'd use a Sothebys or something equally official to run the auction.

Welcome to the forum and good luck to you!
17  Economy / Speculation / Re: Explained - The Road to $100k Is Underway on: November 30, 2020, 11:24:57 PM
All of the technical analysis from the past indicates that if we do grow to $100,000 it'll happen in 3-4 years.

If someone looks to the price growth since January 2018, he would surely coclude that the price can multiply in a very short time compared to all other kinds of investment. It's logic to believe highly in the potential of Bitcoin and how it could really make a fortune especially if this one has nothing to do in life but waiting for such opportunities .

Conclusions are as valuable as the data that supports them.

If you want to use January 2018 as your starting point for that data. The high price in January 2018 was $19,783. The high price nearly three years later, i.e., December 2020, is $19,850. Therefore we can conclude that the price growth for bitcoin is $67 every three years. By the start of 2024 (the next 3 year period) we can predict, based on the data you want to use, that the price of bitcoin will be $19,917...$67 more than it is today, three years prior.

You need to look at all the data. You need to realize that the balance between supply and demand is not perfectly linear. People have been talking about bitcoin going to the moon next year for nearly a decade...what makes this time different?
18  Other / Beginners & Help / Re: How should I cash out now that Coinbase wont allow me to? on: November 30, 2020, 10:11:20 PM
Here's the email that I received for reference:

"Hi,

Thank you for recently creating an account with Coinbase. You'll have access to the following services on your account:
...

At this time, you're not currently eligible to receive the following services on your account:
...

Sincerely,
The Coinbase team"

How long ago did you create your account?

It's not unusual to have restricted access to some trading functionality shortly after creating an account, it actually prevents kiting and fraud attacks on the financial institution because you can show a credit for a balance immediately but not yet have funding fully verified by the receiving firms account. It's a negative implication of the archaic fiat based financial payments system, which when dealing with fiat and crypto, as Coinbase does, is impossible to avoid.

Have you asked Coinbase how long the restrictions will last? Call them on the phone. It's reasonable for them to give you a time frame to expect.

Separately we've heard of some instances where accounts have been frozen but the instances are so few that it doesn't indicate some longer term nefarious activity from Coinbase. I suppose more data points need to be collected.
19  Bitcoin / Bitcoin Discussion / Re: Bitcoin is 88% premine to kids born today 100% to kids born in 2142 on: November 30, 2020, 05:51:05 PM
They say bitcoin is like digital gold, and tron is like digital oil, what`s next digital food? what good is digital gold and oil? it`s not.

This is a great point. We need to stop using these analogies. They make sense to explain how cryptocurrencies can be consider an investable asset like a commodity, such as gold, silver, oil. But that's where they analogy ends. These commodities have a practical use in market consumption activities - i.e., gold is used for jewelry and electronics, oil is used to generate power, etc. Cryptocurrencies provide much different purposes in the market place and we should just start talking about them in these terms.

Bitcoin's tangible function (beyond being an investible asset) is to be currency.

Ethereum's tangible function (beyond being an investible asset) is to be a coding language and structure to create blockchain tokens.

Lumen's tangible function (beyond being an investible asset) is to facilitate financial transactions among fiat-based banks and entities around the globe.

-------

To the OP's original question - do you think all cryptocurrencies will become "dead" in 40 years? Or is it just bitcoin that you believe will become obsolete?
20  Economy / Speculation / Re: Explained - The Road to $100k Is Underway on: November 30, 2020, 04:53:44 PM
I'm afraid this road won't be as fast as you think. At least 4-5 years. Probably even more.

This is the correct answer.

---

I appreciate the enthusiasm everyone has for to the moon growth of bitcoin. We all want bitcoin to hit $100,000. There is zero technical or fundamental analysis to support bitcoin growing 5x in 2021. And I know that bitcoin has grown that much in 2020, but that's from territory that it's already traded within. To grow 5x more in just 12 months requires a rapid expansion of awareness and adoption that is incredibly unlikely. It's not impossible, almost nothing is impossible, but to say that "the road to $100k is underway" is a factually false. There's nothing to indicate we have that momentum building.

All of the technical analysis from the past indicates that if we do grow to $100,000 it'll happen in 3-4 years. And that's looking at how long it's taken to grow to these levels (logarithmic scales) in the past, incorporating halving milestones as a driver of reduced supply growth. Reduced supply growth is a critically important factor in price growth, alongside the more challenging growth in demand.

I like where things are headed, but let's temper the "we've arrived" talk.
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