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I have said it before old people would not bend even if it'd written in gold and so obvious for them to change their stance rather they would be looking for loopholes to still insist that they are correct. I won't be surprised if the acclaimed ETF of August 10th gets approved and he would still insist that caution should be exercised. I actually blame those who give the platform to them to talk and even the news sites that propagate the comment. One thing I know is that, blockchain is not going anywhere and so far that is established, bitcoin is also here to stay. So, irrespective of whatever they are saying we continue to make ways for ourselves.
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You guys are really doing a great job here which should be commended by everyone. With all the details you have provided, I find it hard and that is why I don't usually pity those who complain about how they were scammed for either investing in ICOs or participated in a worthless bounty campaign when the basic information about the name of the team which can be typed on Google, does not even add up. The point is a lot of people would still fall victim because as lazy as they are in searching on Google, so also would they be in checking the right section of the forum that would bring the information to make the right decision to their benefit.
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While you answered about the ETF from a different perspective but you forgot to answer the second question mentioned in the subject line. The "effect" part of it.
Bitcoin ETF is not useful for main bitcoin market. To be honest, not a single penny from ETF market is going to flow into the bitcoin market. The money invested in ETF is going to stay with the company and the investors will just get the profits and losses from the price volatility. So ETF is not helpful for the crypto market.
As a follow up on what is being answered so far because even me myself, aside from the news that surrounds it because if the noise of major support, I don't really understand the real effect its going to have on bitcoin and I believe a lot of people feels the same which is what led to the creation of the thread. In your submission, you said its not going to have any effect on the price of bitcoin but those companies that people who have no knowledge of bitcoin approaches to buy shares on their behalf, those companies are bound to do same and in doing that means they have to buy for them or trade on their behalf then share the profit. This would ultimately affect the price of bitcoin or am I missing something? |
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Hey, new to this forum.
Here's the background on my tax question:
From about 2014 to 2015 I had Coinbase accounts in my name that I used to exchange a few thousand dollars of bitcoin with. I used bitcoin as a currency, so any profits I made were incidental - taxes owed would be about $20. I never thought to report these transactions, and since they were less than the $20k threshold that was sent to the Feds, I haven't had any issues with it.
Now, during 2017, I purchased several tens of thousands of dollars of Bitcoin in my name also through Coinbase, but under a different account. I plan to sell these eventually and pay taxes on the profit.
My question is: If I sell these coins under this 2017 account as an investment, will this somehow trigger the release of information about my old 2014-2015 accounts? I don't mind paying taxes - I just don't want to be on the IRS delinquent list.
Thanks for any help.
Of course there is a possibility that your old account would pop up because aside names that is used to identify an individual, there is always some characteristics that you might have forgotten and filled on both account that could connect the two accounts and since you are willing to pay your tax, I would suggest you carry out the trade you want to do on the old account then you are free from any tax liability and you don't end up and the defaulting list. The other way is if you can risk it especially if you didn't do any biometric verification in the former account and this new one can just suffice as your only account or you just write to Coinbase to merge your account or close the former one since technically you are not owing any tax liability on it. |
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Eventually, its about how much money government can get from every activities they tend to pursue and the moment a slight understanding can be ascertained that no harm is done to the populace, they are surely going for it. The point is, its not about the welfare of the people but about what the government will get in its own coffers. The same government that ban the use of crypto is considering the legalisation of gambling due to the financial inflow that would accrue to them that they had initially detested. That's why I am hope that whatever they launched against crypto is temporary that the moment the income to government is established, they are definitely reviewing their stand. |
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I am curious to know if someone continually invested a lot of time in studying a game involved in gambling, further if he had played the game a lot to understand the intricacies involved, then can we call him an expert in that gambling game? If we do call him an expert then we clearly differentiate his experience and expertise from that of a novice. This clearly shows that the person is capable of winning more as an expert than the novice who really does not have the in-depth understanding of the play.
This brings us to an interesting question if hard work in gambling really pays off? If one puts in a lot of efforts to understand a game involved in gambling, does it mean that all his time has gone down the drain? Certainly no. If gambling were simply a blind guess or a wild shot then even years of studying it makes it useless because one is simply guessing the outcome blindly. But such is not the scenario with gambling in reality. What makes hard work count in gambling?
This further sets off the question of addiction in gambling. Work can also be an addiction for many. But here the addiction could be for perfecting the game and the art of playing. This kind of addiction is to struggle every time for success by proper calculation and review. However, addiction can also be due to pure greed of winning with no clear knowledge of the game. If hard work counts, then we may actually find a solution for a healthier addiction towards success in gambling.
Based on your outlined explanation, I am compelled agree with you that hard work actually speaks but rather than emphasising hard work, it would be better to say smart work in gambling because the hard work nomenclature could be misconstrued and if interpreted literally, its would only lead to addiction which is something that I would always advocate against as that has led to the downfall of so many people irrespective of wherever they are. The smart work of gambling most times is surely better. For a games of intelligence such as chess, cards, black jacks etc. Its of course smart works but the issue is that a lot of people who thinks they are smart about it are actually hardworkers which makes winning difficult but for chance games like dice or football, its less reliant on intelligence. |
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. Wow this is a good one for Manny after his previous defeat especially the most announced one with Mayweather. I think this will boost his confidence the more because I had initially supported the idea that he should just go and retire as a family man. He has played his part in the boxing world, his country mean loves him, a religious man and wanted to contest for election if my memory serves me right. He has fought a good fight and I feel this is the time to drop the gloves on a win. Matthysse's comment on losing to a living legend shows some high spirit of sportsmanship which is rare and he should be commended for it as well and a further testament that it's time Manny needs to go home. |
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Looking at how BTC is and its ability to increase, I have seen people posting all all over the forum that can I buy now, is this the right time to buy and many more. To me I think every time is the right and best time to buy BTC so we should go on and buy any amount we want to and stop all those post because when you buy now there will surely be a time to come where it will increase in price for you to enjoy it. We can buy and sell anytime and anytime is the best time. What do you think guys? Any suggestions?
Every time is the right set time like you said but it also comes with conditions that I like to always put and its not about just encouraging everybody to just go and buy when that happen that is when you see a lot of those thread you complain about because they all bought for the wrong reason or the wrong mindset as when things are no longer going the way they had in mind, that is when panic sets in that would then spread to the entire market. My condition has always been, buy or sell depending on which side of the market are you at any point in time, when you have set your mind and ready for whatever that comes next because one is certain there is surely going to be a reaction to that action you have just taken and how you react to it will determine whether you bought for the wrong reasons or the right one. |
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Hey everyone,
I am considering starting a cryptocurrency exchange in Canada but am not sure what are the various rules and regulations that go into it. I am from Quebec so the Autorité des marchés financiers (AMF) is the governing body here. I have the technical expertise to set up the exchange, however, am not sure what are the rules and regulations surrounding establishing an exchange. Also, I have used Coinsquare and Quadriga CX in the past but they have terrible prices, very low volumes, complex interfaces, and heavy verification processes. My project aims to combat all these issues. If I create a buy-only site initially, can I get by using just phone verification? Every bitcoin atm I have visited simply requires me to use phone verification so is it possible to do the same online?
The reason why those businesses are still in existence is because of those heavy verification. You don't set out what you cannot achieve because you are clearly contradicting yourself. You don't know the rules that surrounds the exchange for certain, but you still want to combat what those companies that are in existence are doing that is against what you believe should be right. The simple truth is, no matter how, if you are serious about running an exchange business, KYC is key unless you want to run it off the books and be ready to face the music in case you are caught. My advise, the best is to contact the regulatory body and ask for information yourself so you have the first hand information then decide whether its something you can cope with or not after which you know what to do. Also, you can consider peer to peer site to trade you coins. |
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Hi users, I am looking for someone to help with coin listing in the following exchanges: Bittrex, Kraken and KuCoin. Send me all your requirements including your fee, listing requirements as well as listing fee plus experience in previous work is needed. You must be someone with high rank and reputation on this platform. Join me on Telegram @Bitcoin_Duke or email rexhudson100@gmail.com need this done asap if possible. Asking someone to send you all of these details because you needed to list on exchange to me showed that you have not done your own due diligence and you are likely to get scammed as the requirement you listed for someone to be qualified to be able to offer you the advise is just very easy to see as you didn't even manage to include the use of escrow as a prerequisite. The ways to get your coin listed are public knowledge that you can find on all of these sites. Except someone have a direct connection to those people operating those sites, I don't see any additional value anyone who do to you than to charge you for visiting the individual exchange sites and do copy and paste for you. |
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One of the main drivers of recessions in recent economic history (last 100 years) has been hoarding of cash. By removing money supply, real GDP decreases because prices are "sticky" and remain the same despite these changes in circulation.
Considering that Bitcoin has no new issuance, how can hoarding be handled correctly?
Its outrightly out of place with my little knowledge or economics that one of the main causes of recession is the hoarding of cash. I could agree that it could be part but surely not one of the main reasons. Because that would contradict one of the characteristics of money which is scarcity. Rather what caused recession is the excess money being made available by way of debt without any basis for it. In the case of bitcoin, I don't see any reason as to why hoarding will pose any significant problem for the reason that for that to happen it means the demand and supply will have to be on a great disproportion and the amount of bitcoin held in wallets that could cause such distortion, are only there because of the current market composition and by the time the adoption is rapid, it would be sold off. |
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The monetary crisis is a condition of worsening financial condition of a country over a period of time and is characterized by a decline in the national currency exchange rate against the international currency and skyrocketing prices in the market and the decline in global economic activity.
Is your country experiencing a monetary crisis?
How do you think the current market price is down?
What about the basic need to continue living with your family?
Monetary crisis has always been part of my country finances and it's so bad that if government just decide not to interfere in the forex market, things would have been worst as nothing would be affordable considering level of minimum wage and the percentage of the population living on the minimum wage. The only thing that can be done to boost the value of local currency is to identify the reason why there is a pressure on it then solve it. For most countries including mine, its always about being a foreign dependent country up to the basic need of human existence. Until that is addressed, every measures will continue to be temporary. |
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In my opinion, I think when any turn around happen to price whether as a positive or negative, we always want to have an explanation to it and that is why we always by all means give it a reason while some people will want to claim credit whenever there is a good turn around. I remember the last push up in the price of bitcoin where a firm in was claiming because it was granted a licence to operate that was why the price got the push but when the price fell back low, the same firm didn't come back with a press release to say its as a result of their own commencement of activities that led to that.
When we define the whole direction of bitcoin price to mean an individual event we are by default accepting that really bitcoin volatility is just too sharp and that the market is not as big as we portray it to be.
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Apologies if I sound biased here. Perhaps my views are a bit outdated? Would be interested to hear about that.
I just had the idea about where your conclusion would be towards when I saw the title of the topic. I think the issue of quantum computers and its effect on crypto currency has been a subject of discussion which didn't begin recently but rather an invention that some people see as a threat against bitcoin. The mere fact that the Republicans and the Democrats to agree on this without raising any dust, showed that enormous possibilities that this research is going to bring. For me, there is still some consolation in this which are 1. It would still take them another ten years to have a chance at the unveiling the anonymity of bitcoin and I also believe that more advancement would have been done on the blockchain development. Kudos to the man that create a technology in the present, that only a computer in the future can break. 2. Another consolation is the fact that they are more concerned about competition with China than bitcoin which I feel will keep them busy for a while. |
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I believe you must have gotten answer to all of your queries by virtue of the responses that have been posted now. The one I want to emphasis is How do we make an appeal? To whom?
The moment you are caught cheating a campaign with your multiple accounts, posting garbages, engaging in trust or merit trading, the simple thing is just forget it. You can make appeal if only your account didn't get the sledge hammer of ban, but I doubt if its going to adhered to as it would only make matter worse and at that point, the excuse of "I don't know" won't be tenable. |
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https://bitcointalk.org/index.php?topic=4675126.msg42182515#msg42182515So there's a lot of talk about how removing SIG campaigns would save the forum. Looking at the rules and set up for this campaign I'd say this is the direction we should go. Great job setting up this campaign and the rules around it. Lots of bright spots to name a few: - Earned merit requires to be accepted.
- No minimum number of posts, and a lower maximum
- Easy to understand rules addressing spam
- And the bounty, which should scare enough people to keep them inline.
Truth be told, he did a good job there. I saw his thread and deep down within, I knew anybody who would get in would surely be above average and for the qualification alone is raising the bar that anyone who qualifies would surely deliver and was more surprised that after about two days of launching the campaign, page 2 is yet to be filled. I think he needs to be commended not only to meet the merit requirement but also to have been earned which is something to be encouraged. But would appreciate if he can reduce the cut-off mark a little. |
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no you are right, bitcoin should begin its real competition with real currencies such as US dollar, Euro, Japanese Yen,... instead of just being a cryptocurrency and separate from them. it has already started though. as the merchants are adopting bitcoin as payment and as countries start recognizing bitcoin as a legal way of payment this competition begins.
I don't know why you call it "monopoly" though. that doesn't make any sense to me.
This is just the best reply as I cannot begin to think of any better response to such questions. Its high time people should know that bitcoin needs to start playing in the major league if its to be taken seriously. But focusing on other alt coins and happy that it currently enjoys a larger percentage in the market share of all crypto currencies, is nothing but rejoicing in mediocrity which needs to be abandon very soon. Most times I see various coins launched with the main purpose of being the next 'bitcoin' competing with bitcoin whereas people don't even acknowledge the existence of bitcoin. Its merely technically 'fighting' someone who is not fighting with you. |
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I always wondered what is the problem for BTC to be finally adopted in the wide range of business, I was expecting at least a great adaption in the online business but even so, what stops business from adapting BTC, the volatility? The low rates of adoption? Or maybe a lack of propaganda? BTC is so great and I really wish I could use it in more places IRL!
It might not have been adopted to the extent that you want, but its surely being adopted and in mostly every facets of human businesses, at least one business has accepted bitcoin. I have read about airline and booking websites that have accepted bitcoin, so also I have read about a school accepting it as school fees, we have some online stores that sell wares accepting bitcoin with some even open their ANN thread on the forum. The most popular is on peer-to-peer sites that you can exchange your bitcoin for practically anything you want. However, all of the above is not enough reason for more adoption to happen as the issue stopping the mass adoption is more complex than what we can summarized to two or more factors. Rather its a combination of reasons and the Paramount of it is government recognition on a large scale. By the time that happens, every other businesses will fall in line. |
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In recent days we have seen lots of news which are negative about bitcoins and how government and Banks are doing whatever they can to limit the exposure of Bitcoins to people.
Like recently the banks banned the bitcoins transactions in India and since there is no money or hand to hand transactions going on now people won't be able to buy and sell bitcoins using the money in their banks . Person to person transactions is something that requires us to paly with a dice of luck.
What you think Bitcoins can do to survive in this world right now ?
What can it do to gain favor of the government and banks ?
Could it be possible that banks see it as an ally contary to a threat ?
Aren't government already regulating Bitcoins and aren't they already making people pay taxes how much they demand ?
What you think Should be the next move of Bitcoins.
I think there should be a body to Target these kinds of issues and body which will stand up for bitcoins and other cryptocurrencies and present them in from of the judiciary, so that everything can be fair .
Right now governments are doing whatever they please.
Its true that the attack against bitcoin from all angle has been potent which makes the attraction of huge number of people into the market a difficult task to accomplish while those who are already in without solid knowledge are looking forward to when they would be able to get a decent return on their investment especially those who buy during the high price period and it seems the good period is being eluded on a permanent basis. However, in the midst of all these uncertainties, there is still room individuals to play a significant role in if not turning around the current downtrend, at least not to make it worse and this can be done by ensuring that there is freedom to trade with one another. For those in India, of course the ban on bank is going to make it seems impossible but really the main reason why we all go through that route is mostly because of escrow and the moment people can be morally upright in their dealings, then within short period, the effect would be mitigated. |
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I do not think that bitcoin will be enough if the whole people around the world will going to buy bitcoins. There will be too much shortage on bitcoin supply and this will lead also to have an expensive market price for bitcoin. As we all know that there are billions of people around the world and bitcoin supply is only limited. So meaning to say in the near future there will be a shortage for bitcoin supply and thus will lead to create another dominant coin like having ether as one of the possibilities that it will be the next to bitcoin. As of this moment i am seeing this already closely to happen. What do you think?
Shortage happen to things that does not possess the attribute of divisibility. For example, human beings, when people in certain professions are needed in high supply but the number are not enough, then we have shortage but that does not mean the premium in that profession would then go higher than normal and individuals cannot be divided but when it come to bitcoin, the better word to use is scarcity. And scarcity being one of the characteristics of money, it becomes something normal that should not cause any issue. More especially is the advantage that this bring to the table due to the limited number and if there is any consolation, the forks from bitcoin would continue to technically makes it unlimited for every one to use. |
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