It depends from person to person and whether a trader is actually making money consistently or not. A lot of people don't take trading as a full-time gig, they do it part-time and want to earn an extra income with it. It's only some traders who are in it full-time and they don't do it for fun or to earn a few bucks every day or week which isn't enough for them to live their life off of it.

A person who gets into trading with the intent to make an income from it, would need to have a sum that is good enough to generate decent profits for them if they do day trading because the amount of profit depends on the amount of money you are using for the trades. After all, 10% of $100 is $10 but 10% of $1,000 is $100. So the capital makes a difference.

Other than that, one needs to have a general interest in trading to be able to earn money constantly from it because if you are forcing yourself to get into it, you will barely be able to gain enough knowledge and without enough knowledge, you won't reach your target.

The ban will be a legal pretext for greater financial control of the population and eventual confiscation of cryptocurrencies. I don't see here that there was anything different compared to everything that the US government and the SEC do. They do this without a publicly declared ban, so it appears that there is freedom when using Bitcoin.

Well, speaking about operating in Russia, its elimination didn't take so long 

https://cryptobriefing.com/russia-crypto-ban-reinforce-ruble/

I feel that all these competitions are probably waste of time for someone like me as my twitter account totally looks like a bot. I know that i wouldn't probably win even if it didn't, but I made it purely to read tweets or like them. Not to be active in xitter. And i am only followed by of bots . I could retweet more, but i feel that isn't bringing anything but more spam to already bot filled platform.
 
Even when i tweet responses with my shuffle username, i wouldn't take my account as a real thing myself . And frankly i bet those replies aren't even showing on their feed to them.

So maybe i'll stick on with just gambling on that site.

they dont mark cold storage as a red flag.. you have just heard that from your cult brethren who have their own motives. rather than reading actual regulations

as for people not paying tax, many do have ways to pay less tax, if you learn how
did you know in america you get tax breaks and rebates for many things even at poverty levels of income.. the sooner you learn the better your tax filings will result in paying less tax. but first you should learn them

When we were audited, the IRS crypto committee told our accountant that cold storage was a "huge red flag", https://twitter.com/bitcoinmom/status/1783616508310237525

I have long wanted to discuss the following topic with users and participants in gambling discussions. Do you think Nassim Teleb's philosophy can be of any use in gambling? His various ideas and theories? Let me just list some of his ideas and you can comment on how, if any, benefits can be gained from this:

1. Ideas from the book “Fooled by Randomness.” There are many ideas that boil down to the fact that we often mistake randomness for a pattern.

2. Ideas from the book “Black Swan”. Strategies based on anticipation of the Black Swan.

if you are just cashing out small amounts like $10-$500 per time, then you just use the other exemptions like 'gifts'
if you are moving large amounts then you set up structures or use financial services set up

imagine CEX services but not set up as markets facilitating bids. but instead 'loan services' matching 'borrowers'(sellers) to 'loaners'(buyers)
same end result, different wording
just be sure to do your research to learn the exemptions.. then use them. there are many. but first you need to learn them so go research

Social media giveaway is always a hard pass for due to heavy number of participants while most of them can’t be verified if using multiple account for the entry. The giveaway post also received bunch of replies that makes it very hard to win.

I once very active on this social media giveaway but never won a single giveaway. I only focus on tournaments using wager or challenge that give guaranteed rewards once you secure place or the requirements. Keep us updated if you manage to be lucky on this kind of giveaway mate.

if you use the exemptions in the tax law.. via researching and learning the tax law. even if the taxman is always looking. he cant do anything if your using their laws against them

tax avoidance(legal) is using their law exemptions(such as loans are non taxible)
tax evasion(illegal) is trying to play dumb, ignore laws and hide which is where you will get caught and cant escape

learn/research the difference

So what happens when you earn some Bitcoin online without buying it and then cash out?

I damn bet he knew. His departure announcement on Medium was suspiciously timed. I guess he didn't want to be part of the reputation smear that evidently the rest of Wasabi has been hit by, so who can blame him.

The fee is currently at 2$ (31sat/vB). I notice that the fee usually go low on this level at night on my time zone for a consecutive days already. Probably there’s only few user inscribing on the blocks during this time slowly surge up again in the morning.


I think Rune is worst since the price of Bitcoin is already high while the value of fee in sat is the same. I remember I can still send some transactions back then since the fee is just around 5$ to 10$ range during the ordinals which is bearable compared to the current fee on Rune which is insanely high.

Effective immediately and until further notice, zkSNACKs is now blocking U.S. citizens and residents from visiting its websites, downloading and using Wasabi Wallet and any related products and services, including APIs and RPC interfaces.

In light of recent announcements by U.S. authorities, zkSNACKs is now strictly prohibiting U.S. users from using its services. An IP address blocking for U.S. residents is effective on wasabiwallet.io, api.wasabiwallet.io and zksnacks.com.

“U.S.” refers to “United States” and includes the several states of the United States and related territories. If you are a United States Citizen or United States Resident, you are not allowed to visit any sites aforementioned, download Wasabi Wallet or use the Wasabi Wallet coinjoin feature. This includes if you are a U.S. permanent resident or if you are an individual that holds a U.S. passport.

https://blog.wasabiwallet.io/zksnacks-now-blocking-u-s-residents-and-citizens/

moving any asset/commodity/security to fiat is a taxable event
but now CEX's have to report events, means the taxman has proof of events which you then hav to declare in your own filings

the only options are to know enough taxlaw to know the loopholes to avoid tax in such events(legal).. or find ways to swap to fiat outside of reporting services to evade tax(illegal)

main tricks are what the elites do
dont 'spend' value(buy/sell), personally lend value as loans are not taxable
its literally a process similar to fiat exchanging, but word it right and create your own paperwork to show it worded as such, it suddenly becomes a double sided personal loan to each other which cancels each other out the same day(paid in full)

speak to an accountant/tax specialist

When we were audited, the IRS crypto committee told our accountant that cold storage was a "huge red flag", https://twitter.com/bitcoinmom/status/1783616508310237525

I think they are not. But if people say that coins in sidechains are, then coins in LN should also be called in the same way, if we follow the same logic.


You have IOUs only in centralized sidechains. For example: if you have a sidechain, where you have some large multisig, and you cannot be a miner, if you are not a part of some closed group, then those coins are IOUs. However, if you have decentralized sidechain, then you can use any scripts you want, because every block is covered only by hashrate, and not by some centrally-selected signature, like in signet.

1. If you have to provide a valid signature for a given coin, to transfer it from mainchain into sidechain, then it is based on real coins, and not some "coins created out of thin air".

2. If you have to move a given coin on the mainchain, to bring it back from the sidechain to the mainchain, then it is the same situation as with LN: you can always peg-out, without asking for anyone's permission.

And those two things alone: sign things to peg them in, and move them to peg them out, is sufficient to make a test network for decentralized sidechains. However, if you want to get the main network, then it is all about creating rules for the scripts, used to lock your coins. Which means, that if you have a single-key address, then you can test it alone, but no sane person will accept some coins, if the sender can always take them back, without losing anything. For that reason, the basic building block for decentralized sidechains is N-of-N multisig, where you can have a lot of people behind a single UTXO. And then, all kinds of improvements are focused on making "emergency scripts", to for example not require all N participants to be online, to change the state of the sidechain.

Because if you would have for example non-interactive transaction joining, then a single Taproot UTXO is all you need, to handle a single decentralized sidechain. And then, it is all about combining all signatures from that sidechain, and finalizing it as a simple commitment on-chain, which would have a constant size, regardless of how many people will use a given sidechain.

there are so small  chance that the fee will reduce anytime soon because it has been running now for almost a week now and yeah i even stopped withdrawing or transacting into the bitcoin network.

and indeed that I don't wanted to gamble nowadays as my reserved altcoins to gamble have been loss yesterday lol.

Why do you think it's too early to say "I told you so"? Samourai deliberately designed their wallet to collect user data by default and lied about it: https://twitter.com/SamouraiWallet/status/1576923638846005248

I opened an issue to have a warning displayed to users about the data they are leaking, Samourai closed it and later deleted it: https://web.archive.org/web/20230417145554/https://code.samourai.io/wallet/samourai-wallet-android/-/issues/458

I've spent an enormous amount of time warning people about the risks involved with this exact outcome. Now whatever data Samourai had is within arms reach of the Feds.