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5241  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 15, 2017, 11:02:11 PM
When the time comes to  spend some to buy something like property or fiat currency, the blockchain will serve as a record of when I acquired the coins so capital gains tax can be calculated and paid. Until then it's nobody's business except mine.

And you can get away with paying less capital gains tax, if the most recent paper wallet you are exchanging today is dated less than a week ago. I'll leave it to your imagination. You might even possibly register losses too, but that's unlikely since you wouldn't be buying fiat at that point.

Indeed. This is one reason I keep my coins in many small wallets.

As I've stated in many times in the past, I have no intention of selling any coins except if absolutely necessary.  If an emergency were to occur during a dip and I needed to sell more than I could through an ATM for cash, at a price lower than the highest I'd paid, I'd definitely claim a loss.



If you claim that the latest bitcoins you bought are the ones you sold (and either claim a loss or a small profit).... How do you plan to declare the previously bought bitcoins if you ever need to sell them for banking fiat in the future?

I mean, if you do that you are basically claiming the latest bitcoins you bought are the first/only ones you got. You could have a hard time later proving you had some more when you yourself declared you don't.

Or maybe canadian law is different in this specifics.
5242  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 15, 2017, 12:32:56 PM
Hold or sell now? Was holding for 5 years but I feel we´ll go down and won´t see 2k for a long time? Just a feeling... I had it in my balls when the price was 2,9K I was so pumped to sell. I knew it will drop... Damn always the same mistake...

I will never understand selling right after a dump instead of during a pump. But, who knows....
5243  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 15, 2017, 09:40:28 AM
There's not such thing of "store of value". I mean, either everything is (because anything can hold some value), or nothing is (because there's no guarantee).

The best "store of value" is DIVERSIFYING.

I really don't understand those people that always talk about store of value and are all in in a single asset. It doesn't matter if it is cryptocurrencies, PM's, Real State, stocks.... If you want to "store value" with some guarantees you need to be diversified.
5244  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 15, 2017, 09:04:41 AM
Have we finished panicking now? Is this the bottom?
5245  Bitcoin / Hardware wallets / Re: [ESHOP launched] Trezor: Bitcoin hardware wallet on: June 15, 2017, 01:04:01 AM
@bitserve your experience is not normal. Either you have a defective unit out of the box or there is a problem with the Trezor communicating with your computer. Try using different cables first. Also you should open a help ticket at https://satoshilabs.kayako.com/ and also post your problems at /r/Trezor on Reddit.

You mean the screen refresh problem? It is not that much noticeable so that's why I am doubting if it is a faulty display or maybe that's how it is.

The other issues I guess it's just how it is.... unless someone can confirm the password manager does work with kraken and poloniex. If it works I would like to know what I am doing wrong in the configuration.

I will try to get used for a couple of days in case it is my mistake. Anyway, except the display thing I don't think the rest of issues is a faulty unit but just how it is.

About the cable I am using the one of the ledger because the trezor one is too short, but I don't think I am having any communications issue.

I have been able to use the password manager with several sites, I just cant get it to work with Kraken and Poloniex, which are two of the most important for me.t
5246  Bitcoin / Hardware wallets / Re: [ESHOP launched] Trezor: Bitcoin hardware wallet on: June 14, 2017, 06:09:53 PM
Hi!

I am not sure if this is the main Trezor thread or not, but as it is about Trezor I will post here.

Yesterday I received my first Trezor. I've had Ledger Nano S for several months but I was so incredibly happy with the purchase that I decided I also had to try the "original".

I will give it some more time just in case the fail is on my, but I am VERY dissapointed with the purchase when I compare it with my ledger.

First, I don't know if its my unit that is faulty or if all Trezors share the same problem, but the screen refresh is too slow. At first I was noticing some strange feelig when looking at the screen, not sure what was it... just that it feeled uncomfortable. After some tests, and recording on a camera it is obvious that the screen refresh is extremely slow. Is this a problem of my unit or anyone else have noticed the same?

Second, the password manager is the main function I decided to order a Trezor even if I was more than happy with my ledger. But it just plain doesn't work on the few sites I have tried. Well, it does work on some uninportant ones, but the main ones I want it to work have some or another problem:

- Kraken: It just says "Couldn't find login form. Sorry!".
- Poloniex, it seems to find the form fields, but after submit it always says invalid captcha.

Third, I feel like it is way better the method of pin entry of the ledger. ALso it times out too often AND the browser plugin asks again for the pin but the screen just displays the locks and not the pin grid, so I need to disconnect and reconnect the USB. Really?

Fourth, The device itself feels like much cheaper and worse quality than the ledger. I am VERY worried that the screen could be damaged in the pocket alonside coins/keys/etc.... Maybe it's ok, but the overall feel is like if it was a five eur toy or countrfeit from china.

I will keep testing it and its other functions as a wallet but if someone can point me out some solution for my problems (the screen refresh and the password manager) or tell me if my unit is somehow faulty I would very glad.

Thanks!

 
5247  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 14, 2017, 01:09:19 PM
Hello, I am a long time lurker and just made myself an account. I've been in bitcoin for a while, but my stash is smaller than it could be. Long story.

I recently made myself a new account on Bitmex, mainly I'd like to lend crypto for interest. I have a couple questions.

1. What do you think of that exchange? Is it fair, honest etc? As a non-US citizen, it is one of the few exchanges that will let you trade and withdraw BTC without too much ID hassle.

2. Do you think it is possible to lend out a small part of my btc? I'm talking 0.5-1 btc.

3. Is this the right forum for such questions? If it isn't, please point me to a more appropriate discussion on bitcointalk, and I will delete this post from here.

If your stash is smaller than it could be because of mtgox or any other exchange issues and your are now thinking about lending in bitmex, then your learnt nothing.

1. It's not on my list of "fair" exchanges. But I don't have any reason to suspect much more from them than all the rest.

2- You can lend whatever quantity you want.

3- Probably there are better sections for this type of questions... but this is wall observer and there's not that much walls to observe nowadays.
5248  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 14, 2017, 11:46:45 AM
Article is light on details. Still, if it is what I think it is....

Everybody wants to rule the world these days. It will also be pre-mined. Still, I guess someone will buy it.

Buy it!? It will be Bitcoin, pure and simple.

And the pre-mine? Not a pre-mine of new coins on a new blockchain. A means of invalidating any progress the UASF makes.

The removal of the precise centrally-planned amount of witness discount is perhaps the removal of the most odious aspect of the SegWit Omnibus Changeset.

While I need to look further into details, I am very encouraged about this development. Big blocks, improved version of segwit, removal of the biggest bug Bitcoin has (the artificial constraint on system capacity), what's not to love?

And the funniest part is that this is nothing but the obvious* solution to the UASF-ers 'threat' to roll back the non-UASF chain.

* (like, duh)

I've not been this encouraged about the future in months.

I think I am starting to understand your position on this issue. But, still, there are some questions I would like to ask you:

- Don't you think miners have already enough power with their hashrate that if they "win" this game they will be too much powerful than desirable?
Specially considering that "miners" is not exactly a distributed group, but mainly Jihan/Antminer... one single entity.
- From what you have just said, I think you are not against Segwit/LN, are you?

I "think" you are much more invested in Bitcoin than I am, so I supposse whatever you support you do it in your belief that it will be a price boost instead of the oppossite. Also you seem to be "tech inclined" so that's why I want to understand your position.
5249  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: June 13, 2017, 11:29:55 PM
If someone else has a long list of BTC addresses linked it is very useful to know the total sum of BTC linked. For some reason, transition bot only shows the balance of each addresses, not the total.

You could use an spreadsheet, but I have made a simple script that I think is easier.

First copy the list of linked BTC and balances from Transition Bot chat.
Paste it into a file.

and then just run:

cat file | awk '{ sum+=$2; } END { print "Total Linked BTC: " sum " - You will receive " sum/16 "GB in next round"; }'

That way you can check out if the total sum is equal to the expected balance of your whole wallet.

Of course if you only have a couple linked BTC addresses this is completely unneeded, but for a long list it might come useful.
5250  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 01:37:36 PM
The strange (and somewhat irritating) thing is, these young tech people are running around looking for the "killer app" that will somehow make a new cryptocurrency fly with the masses overnight.

The thing they keep missing is that, the Bitcoin blockchain network by itself *is* the killer app. Sure, cool things can integrated with it and be built into it and along side it, but essentially Bitcoin has all of the best attributes that make it the killer app for a new kind of digital money. And it's built right in.

Does Gold need a 'killer app' to serve as a store of value and usage as money? Does Silver need a killer app? No, they really don't. All they need is people's faith/belief in the PM's built-in attributes that make them a good form of money.

And that's all Bitcoin really needs (and of course, a way to scale better with lower fees).

As typical though, even when given a near-perfect wheel, everyone will run around convinced that they can reinvent a better one... and fail.

YOu are missing the point. They do not try to reinvent the wheel. They just want people to give them absurd amounts of money for THEIR wheel concept. Or for their posing as they have plans to think about a better wheel. Or for... anyway, the wheel is unimportant here, it's all for the money.
5251  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 01:05:30 PM

I guess history is destined to repeat. Over and over again.

The first company I witnessed to basically pre-mine all their coins, crowdsale the majority (~80%) of their coins to a select few investors (in return for btc I might add), and allow the remaining tiny float to be bid up quickly by Average Joe retail buyers was Nxt. Nxt had a single developer who basically controlled everything. The source was closed, at least in the beginning. And we can see from history how that all turned out. (Of course Nxt is getting pumped again now like every other shitcoin).

And Nxt arguably had an actual working wallet before they even did their crowdsale, and was working on an integrated marketplace. These Eth ICOs have nothing but slick marketing and over promises.

Someone correct me if I got the facts wrong.

I don't know about NXT. But I have go on my analysis on random ICO's....

Let's see now Monaco... It's basically another bitcoin/ethereum debit card, something like Xapo. The funny thing is that the ICO is currently now on progress. Atm they have got around 50 million$ in ETH.... Yep, 50 million dollars for launching a debit card.... SOmething that could be done with much less than 1 million. Oh, and the ICO haven't finished yet...

I remember the time when the LUCKY startups that convinced some VC, got a few hundred thousands to take off, then some more AFTER hitting roadmap milestones, etc etc....

But now we have crowdsales that give the founders as much money as if they already invented the next Google... without not even a PoC.

Oh, and what to say about that board members... tens of them needed for a single stupid idea that needs almost no development? Really? And do investors need to pay some salary to them all?

I am thining about launching my own ICO. I will name it ScamICO (SICO) and I am sure it will be a fucking disaste, because, unlike the rest, I will be the only one delivering exactly as promised. Mmhhhh, on second second I wouldn't be surprised if some people handed me a few millions without even reading the name. Maybe I should do it... Anyone on board? Smiley

5252  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 08:51:47 AM
Don't do it. Remenber "the markets can be irrational much longer than you can remain solvent".

Because "markets" (especially in cryptocurrency) don't exist, just pump and dumps.  Anyone that's been around a long time can remember 3 years ago when there was a series of good news with places like Newegg and Overstock.com announcing they would accept bitcoin and what happens?  The prices goes down each time.  Then suddenly there's a series of bad news recently with things like ETF being rejected, Bitfinex - the market maker exchange since a price of $200 having Gox-like issues, and what happens?  Price goes up for no reason.

Recently the price went from $1200 to $2800 for no reason, then dumps to $1800 for no reason.  None of it was based on any type of fundamentals, aggregate market, or news.  There is no market, it's just however high some guy like Barry Silbert wants to try and raise it before he dumps on you.  Once they can find nobody to continue chasing their pump, they load up on shorts and create a new bear market on purpose, which is also not based on any type of fundamentals.

In practice, generally anything that's not the unit of account of something is nothing more than a pump and dump.  The only unit of account in the past 5000 years of recorded human history that's not catastrophically imploded is gold and silver.

I am not so sure about that. In fact, yesterday I had a thought: What if 21century was the last one in which PM's had any value? I mean.... times are changing... and there are other stuff that we have been reliying upon for centuries that finally get rid of for a better alternative.

I know, I know, PM's have had value since milleniums ago... but the tech society that is beginning could change many of those ancient customs.

Well, maybe I am wrong and there's still some decades of value left on those PM's but... If I were heavily invested into it I would start diversifying right now. Real state, cryptocurrencies, whatever.... some hedging never hurts.

Plus, almost anything would give you a better ROI than PM's anyways, so what's to lose?
5253  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 05:33:19 AM
News from the front...

$8million in ETH stolen from some gambling DApp. https://etherscan.io/address/0x11b85b4e2fadaebe04a251377aa35b9be3c785f0

$100million in ETH stuck in Bancor with a potentially buggy code.
https://twitter.com/izqui9/status/874304123868516352

If it weren't for the men's pool I'd be short right now.

!RemindMe

Don't do it. Remenber "the markets can be irrational much longer than you can remain solvent".

Only one time I shorted ETH and I was extremely lucky I closed my short on time. It is now more than double than when I shorted it.

Cryptocurrencies are an asymetrical gamble. When you go long you know how much you can lose on the worst case. Shorting? I have seen shitcoins going 100x in almost no time. Risky business.
5254  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 03:09:28 AM
This looks like it could be the end of the rally to me, tbh.

Why? We are at beginning of the week.
5255  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 13, 2017, 02:58:17 AM
Bitmain cheats a bit with their miner microcode. That cheat would not work with Segwit, thus their systems would be somewhat slower. Which would make them sad.

They know they can't pull that trick indefinitely, in fact they knew that from the beginning. Jihan BU is a fan of game theory, let's just hope he is also a good practitioner and do the right decision at the right TIME.
5256  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 12, 2017, 06:05:52 AM
I am starting to feel like in Las Vegas now Smiley



Baby needs a new pair of keys.

What does that mean? Is it some sort of english joke or something?
5257  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 12, 2017, 05:15:05 AM
I am having a hard time doing that. Any time I pick up a coin or ICO and do some research about it all that I found out is rubbish behind it. Yet they still keep rising. It looks like a fucking gamble to me.

You do what I believe is called "Value Investing". Not so much the fundamentals of a coin, but the team or devs behind it, what they promise to do, and what the public thinks about them, or what you think the public thinks about them (you can't really tell.) You try to predict which one will rise. Get in the mind of the pump and dumpers, without being them. I mean, I don't participate in the troll box or other forums, but I read them all, or mostly.

In short, it is gambling. LOL. Sorry. My so called "equivalent" 50 BTC is now 70, but as you or someone else has pointed out, it is not yet realized, so ... I better trade some of these back to BTC soon.

Yes, it looks like value investing is worthless here. Probably that primalbase shit will be get a good pump because of the people behind it. I mean, none of them have any practical espertise in real state investments, they are all "ethereum specialists" but the name, the idea, the people sound good so maybe it is something stupid people will buy like crazy. I would never invest in anytthing like that as a real business, but maybe I can throw some spare FIAT into it and exit in the middle of the expected (?) pump for more BTC.

NOw there's that other ICO by Vinny Lingham, Civic... the idea is ok.... but the numbers? So they expect to get $33 million for 33% of the coins.... that means $100 million for a fucking simple "identity verification blockchain"? Something that could be done with just 1 million.... But we are gambling, not really investing in real business, so.... ok, maybe another little bit of change into it....  I am starting to feel like in Las Vegas now Smiley

5258  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 12, 2017, 04:57:30 AM
It looks like we should break through $3000 within 6 to 12 hours.

If you are talking about Bitstamp breaking $3000 it will probably happen much sooner. In a couple hours deposits will start to be credited.
5259  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 11, 2017, 03:33:56 PM
ATH @ BITSTAMP
5260  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 11, 2017, 02:39:47 PM
Ethereum's market cap is rising so fast that if Bitcoin's price does not increase soon, Ethereum will be number 1 in Market Cap. That will be a sad day for Bitcoin.

Bitcoin deserve that. Slow, pricy, china centered. I used to like Btc, but not anymore. I make transaction with HYPER inflated fees and wait 10 years for confirmation to go through... F* it...

Last night I waited 12 hours for confirmation at the standard fee.

I understand that the miners want to turn a buck and that they are throwing around
massive amounts of energy and hardware...

Somehow I wonder if this is still elegant enough for the top of the
line cryptocurrency.

I paid extra today for a speedier transaction & it still took half an hour. If the miners keep being part of the problem rather than the solution something else is going to come along and spank Bitcoin's ass.

I use the Ledger Wallet. It has three fee recomendations, fast, standard and slow. I always chose fast until yesterday. For fast it was a 2.19€ fee, for standard 1.70€, for slow i don't remember. I chose standard, so 1.70€. The confirmation hapened in around 1 hour, maybe even a little more. It has been the first time I have experienced such a big delay. It's not such a big deal but yes, even if I think most people are exaggerating their issues I must conclude it is a shame.

Bitcoin needs to solve its scaling problem NOW. Not only because of the fees, but because I am sure the price would have SKYROCKETED if it had been solved already.
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