If you sell Bitcoin for Fiat, then you have to pay taxes.
While Bitcoin is a currency, it is considered a commodity and therefore by selling it you're 'making money'.
It's illegal if you don't pay taxes.
Applying the same logic: I'm expecting inflation and buying USD for my EUR. Then EUR lose 1% and at the same time USD is getting 1%. If i exchange it back i will get 2% income (1% counting the inflation cut). So should i normaly pay tax for this income after i tried to save my money in another currency? if you don't sell you don't pay any tax, from the moment you dump for fiat you pay a% of tax, but this is true on everything, bitcoin is no different, but bitcoin allow you to avoid tax, if you use it as a currency that's is the beauty at least for now also if you sell on exchange but leave the money there you also don't pay anything, you can always get those back into bitcoin, for trading |
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is this even a question? isn't it obvious why they are holding, the past history tell you that there is a good reason to hold bitcoin, with what happened in the last months, with the last pump that brought bitcoin to a new ATH
with all the new adoption now bitcoin is strong than ever, if you are concerned about the upcoming possible split, you should not because it's not as big as people are making it
not sure if you noticed but after a bad news bitcoin become stronger than before, so seems that this bad news are only strengthening the value
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remember that one of the two chain will be an altcoin, just that the other will be the one used by everyone else, also this happened with some alt, like ETH, did eth lose its value? no...
A very convenient position That is, that the blockchain which should prevail will be a genuine Bitcoin while the other which succumbs will be an impostor, an altcoin. The main issue with this reasoning is that you don't know in advance which one will win and which one will lose. Further, you don't take into account the possibility that any of the competing blockchains may not have an overwhelming advantage over the rest of the pack, so things might get very complicated in respect to which blockchain is going to come out the winner. Apart from that, if Jihancoin succeeds, will you use it yourself? which win will not matter much as long as you don't move your coin before the split you are safe regardless of what it happen, and your coins will likely be the one of the new main chain Those who prefer to sit on the fence are usually the ones who got stripped most It is the same as in war, when a country which doesn't want to side with any belligerent party may eventually end up invaded and split by every belligerent (Switzerland had been quite close to that in WWII). More specifically, you assume that you won't lose anything if you just stick to a "wait and see" approach without taking any action, while, in fact, you may be the one losing most since people may start actively dumping their coins if the hard fork happens for real and a dumping war quickly ensues. They would likely end up with at least some fiat on hands, while you may end up with just a pile of shitcoins worth nothing not really a good comparison, here it's better to not do anything with your money until all this drama about the split is done, or you are at higher risk to lose everything if you begin to move your coins besides we can not do anything, unless you are a miners you can't really express your opinion on what you want it's better, you can only vote as a mienrs here |
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What are the pros of miners NOT adopting segwit come Aug 1? I'm not sure I understand why they would not want to adopt Segwit as it would speed up transactions significantly.
well they would lose on current amount of fee, if bitcoin can proceed more transactions per seconds, this is a reason, another reason is that they don't like the LN that will come with segwit other miners are against the 2mb hard fork that coem with segwit2x, it's a bit of a mess, with everyone with their our opinion, the consensus mechaninc here is splittng the chain apart |
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there is no reason to keep tracking your altcoin, because every single of them will go to bitcoin as a final result you are better off tracking your bitcoin activity
which is not a big issue, you have all the records,in your exchange, and there is the blockchain anyway that can prove your money, but i would not reveal my cold storage in case of declaring
bitcoin itself is not taxatable anyway, just records your dumped bitcoin
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strange discussion here ... 1080ti is doing 1gh skein easily with alexis miner - no need of high power up.
that what i'm saying on numerous post, but he is the kind of guy that won't admit that he is wrong no matter what, when he is wrong normally he don't reply anymore, at least you know it |
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your question should have been buying crypto or buying mining rig? mining contract are a scam with no future, there is no roi there to reach, you will wast time and money
with a mining rig you can always have your profit, and you woul exchange your bitcoin at cheaper price, buy buying altcoin, you can have with some luck a huge return but there is also a higher risk
it's your choice, to choose between high risk high return or the opposite, low risk low return, but not always, sometimes you have high return in mining by aiming at the correct altcoin
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remember that one of the two chain will be an altcoin, just that the other will be the one used by everyone else, also this happened with some alt, like ETH, did eth lose its value? no...
A very convenient position That is, that the blockchain which should prevail will be a genuine Bitcoin while the other which succumbs will be an impostor, an altcoin. The main issue with this reasoning is that you don't know in advance which one will win and which one will lose. Further, you don't take into account the possibility that any of the competing blockchains may not have an overwhelming advantage over the rest of the pack, so things might get very complicated in respect to which blockchain is going to come out the winner. Apart from that, if Jihancoin succeeds, will you use it yourself? which win will not matter much as long as you don't move your coin before the split you are safe regardless of what it happen, and your coins will likely be the one of the new main chain by succeding you mean that jihancoin will be the main chain and be used by all the exchange, which for me translate into being the new "core chain" well at that point if everyone else use that fork i would be forced to use it too but in any case i'm always with the core dev team... |
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the first thing to do when you deal with money like bitcoin is to do a backup, nothing else is more important, now there is no way to get those back, unless you find the phone again
but see the positive thing, you contributed to make bitcoin more rare now by losing that tiny 0.58, but the bad news is thta you also lost a phone and i hope it's not an expensive one, or your loss would be far greater
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it depends not only on your country but also if you are running a business activity, if you are a merchants then yes you must pay the taxes on top of your generated income
if you are private go ahead and ignore all this, don't declare anything, you probably don't this often anyway, but i'm sure in case you are selling expensive stuff like an house or a yacht or something else, you must declare
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cold storage are unhackable, because they are offline, any online wallet is hackable, but if you do a machine that do not run any other software besides bitcoin core, i find it hard that will ever be hackable
but with some exploit there are malware that can go via your router, so even in that case is possible but very unlikely, there are also malware that can be hidden in a usb stick that you bough new on amazon...
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again this thread, it was already debunked the holding of satoshi which was initially estimated to be 1M, not 2.2 which is impossible, because to reach that amount you must mine for year alone
ant his was not possible because after few month other joined the mining activity
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not really true, you would end up selling those way before the current pump, guaranteed, because for example with 10k bitcoin, at $100 each you are already tempted to sell, let alone from $100 to $1000
it's very hard to hold all the way to the current era, very few people would have done it, the majority would have dumed at $100 or even less
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Here lets go down the list.
Bitcore is 58% faster 1070 to 1080ti
x17 is 56% faster
Tribus is 65% faster
Skein itself is 65% faster
Blake14r(Decred) is 69% faster
Equihash is 51% faster
Library is 68% faster
Lyra2v2 is 69% faster
wrong on x17 you can do 70% faster, 20MH with a 1080ti versus 11-12MH skein is 85% faster, again wrong, 550MH versus 1GH equihash is more like 60%, 480 versus 780 lbry is 300 versus 500, so less than what you have i don't know where you pulled those numbers but they are all wrong...i have both card and i tested with the best miner for 1080ti, the alexis 1.0 not ccminer 2.0 Check the link, it's from a database of 100s of cards. Your numbers are completely irrelevant. You're doing something wrong along the way or have a private miner. The database also lists the miner. I told you EXACTLY where I pulled the numbers from. Myself, what to mine, cryptominingblog, and most importantly Epsylons database on yiimp. Like there is literally no other way you can try to prove those numbers. Hell those numbers WOULD be in the database on yiimp if you mined with those speeds... lol. What do you think it means what the miner reports "Pool asked for stats"? XD uh, just look again at the bench on yiimp, skein is reported 1 giga for the 1080ti and the 1070 550MH, like i said which is 85% faster and not 65% faster like you said, so dunno what you are talking about Yeah, and those weren't up there when I posted that, nor are they legit benchmarks. It's the same user reporting multiple instances with the same GPU. Running a 1080ti at +50% TDP and crazy clocks for a limited run. Also lets take 1030 and divide it by 580 (highest hashrate 1070 currently, which if you notice isn't just a giant block of a single type of card all ran on the same day) and you end up at 80%. If you remove those outliers, what's the next closest hashrate to the top for 1080ti? A EVGA GTX 1080ti running at 932. 932/580 = 60%. Like I said, not taking into the one guy that ran his card at bleeding edge speed for five seconds before his rig caught fire and everything melted to the ground. So uhhhh... like I said go be a dumbass somewhere else. they are not outliers, you can get that easily with alexis, and some oc on both side, the 1070 require heavy oc too to reach 580, nothing is run at bleeding edge, that is normal oc you are just talking nosense as usual |
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ETH is strong don't sell strong coin, sell shit coin and hold both btc and eth, i would keep your ETH for now, it won't fall much until it get pumped again after this 1 august drama ends
actually for now that everyone is dumping i would hold everything, and i'll wait for the next pump before doing my move
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you approach is not that different than just investing in altcoin, mining, in fact the resolutions are the same, with mining you are fairly buying bitcoin at cheaper rate much cheaper than what you would pay by buying
even cheaper than your $800 usd, because if one rig can do almost 0.3 a month of bitcoin by consuming only $100, you are effectively buying bitcoin at $350 rate...
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Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.
you predicted many times that bitcoin would tank and fade away, but never happened, now that is even regulated by some countries, there is a almost no chance of that to happen the split will not harm bitcoin for the loing run, just for the panic sellers, that fear every swings on the market, this current drop is causing by people not confident with bitcoin to begin with, they just invested blindly, hoping for a quick buck |
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You must declare the value of the token at the time you receive it from your pool or you receive it in your wallet. However if you are running your mining operation as a business you only need to declare the net value at the time the token was received. Value of token at the time of receipt minus the cost to produce it. Just like a real physical gold miner does. Then later if you sell the token and it has increased or decreased in value from the time of receipt you need to report the capital gain or loss.
what about instamining and solo mining, where i mine coin that have no value long before i'll sell them? what i declare at first, they don't have any value...gold miner also don't have instamining with altcoin... also how can someone keep track of all his shitcoin, i think it's too much hassle, if you keep your money in the alt, youa re free from taxation, and you need only to declare the amount spent on electricity |
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i think there is no way to prevent fake voting or preventing centralization if you are aiming for that, even with node, i can have two node runnign and my vote become 2x, or i could hack some bitcoin in the world an dmake them full node and vote with that, and will be centralizzed anyway i was thinking about voting with signed address...but it might no be good either You vote with your money. The more money you invest in full nodes, the more say you will have. If the coins hard fork, then you vote with your money by investing in the coin that you think, might take the crown. The merchants and service providers will follow the money and the miners will follow the fees. {where most tx's are made... or most popular coin}  this is another centralized way to vote, and it's not different than pos for example, where who have the biggest balance win |
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just think about this, bitcoin can't die anymore because it's sustained by japan already, no other coin is sustained by a whole country like that, so it's much stronger than any pump and dump coin
besides only ETH have some reasons to be considered a contender, other coin have no real volume to compete with bitcoin
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