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Author Topic: The BCH value in forum wallets  (Read 1950 times)
Steamtyme
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November 18, 2019, 09:22:04 AM
Merited by philipma1957 (2), DdmrDdmr (2), eddie13 (1), hugeblack (1)
 #1

I found myself looking over the forum wallet accounts this evening and thought it was worth an ask. What is the forums plan for the BCH that is available to them?
The forums main wallet - 19XTo6BHpPHSkW5cm183VrgEYpGjVJmQEt currently has 750 BCH available, which could be 23.4 BTC.

I never had to go through the experience of recovering BCH when the fork happened, but am sure that it is something that could be easily handled. So I'm not sure if I'm missing something or the plan has just been to hold BCH as well. This is also the minimum that I assume is available to the forum as there were likely some other hot wallet accounts that had smaller amounts available.

Granted I don't look into BCH often, and just happened to use blockchain.com, so I clicked in the BCH option for kicks. So maybe I'm missing something that is obvious to others.

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November 18, 2019, 09:26:10 AM
Merited by micgoossens (2), Steamtyme (2), ETFbitcoin (1)
 #2

The IRS guy settling in to watch this thread like:



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November 18, 2019, 09:33:42 AM
 #3

I love it. To be fair though, I'm sure theymos received one of those fancy little letters saying "we think you have something to do with crypto" or whatever the wording was, his was probably the nice one that said we think you have filed properly. I'd wager theymos has the I's crossed the the T's dotted, when it comes to paying what is required in regards to taxes for the forum. He does comply with the laws of the jurisdiction as required.

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November 18, 2019, 02:32:01 PM
Merited by eddie13 (1)
 #4

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
iasenko
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November 18, 2019, 02:49:06 PM
Last edit: November 18, 2019, 03:03:50 PM by iasenko
 #5

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.

If this is done in one go we can await some fluctuations in the price of the forked BTC/shitcoins pairs then. Some people will take a chance to make some money from the whole thing.

If this is done in one go

It won't be.

Good to know. Smiley

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November 18, 2019, 02:57:48 PM
 #6

If this is done in one go

It won't be.

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November 19, 2019, 01:10:31 AM
 #7

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.
Sounds like a solid plan. Thanks for the response. Maybe you can PM Ver to take it off your hands. Help him get rid of some of that failed Bitcoin core his customers still give him  Tongue

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November 30, 2019, 10:55:23 PM
Merited by LoyceV (1)
 #8

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.

The result of the liquidation of 500 BTCs' forkcoins was:
   14.272715 from BCH
   6.818999 from BSV
   0.442951 from BTG
 = 21.534665 BTC
 
Due to having low value, other forkcoins on this 500 BTC were not transferred.

I had no desire to play the market here, so the forkcoins were sold in several transactions spread throughout November. And there was no particular reason for doing it in November as opposed to earlier or later: it was just a convenient time.

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November 30, 2019, 11:04:47 PM
 #9

Selling forks, engaging in the art scene. Sounds like someone has to much free time on their hands  Tongue
Thanks for the transparency and keeping everyone in the loop.

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December 01, 2019, 02:12:20 AM
 #10

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.


Why is this being done? You have stated previously that the fourm had no plans to do anything with it? It should have been converted to btc when the ratio was higher.

Why convert it now and not keep it bch if the fourm doesn't need btc.
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December 01, 2019, 02:59:14 AM
Merited by dbshck (4), vapourminer (1), DarkStar_ (1), PrimeNumber7 (1)
 #11

Why is this being done? You have stated previously that the fourm had no plans to do anything with it?

The BTC was being moved, so the forkcoins had to be handled in some way. The alternative would've been setting up separate long-term storage arrangements for them, but I don't believe in their long-term value, and this is the Bitcoin Forum.

It should have been converted to btc when the ratio was higher.

You should start a blog with these valuable backward-looking market timing tips so that everyone can share in the infinite hypothetical BTC that could've been made.

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December 01, 2019, 06:46:16 AM
 #12

Due to having low value, other forkcoins on this 500 BTC were not transferred.

Are the remaining minor fork coins still held in escrow for the forum by OGNasty?

I am completely against freedom of speech when it is used by virtue signallers like eddie13
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December 01, 2019, 07:33:27 AM
 #13

It should have been converted to btc when the ratio was higher.
You should start a blog with these valuable backward-looking market timing tips so that everyone can share in the infinite hypothetical BTC that could've been made.

Kill you is the village idiot of the collectibles board Theymos, lovely kid sometimes but doesn’t have too many brain cells,

He was kicked out of the military and the word on the grapevine it was for attempting to touch livestock inappropriately

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December 01, 2019, 10:26:54 AM
 #14

The major forks for the BTC previously held by OgNasty will be liquidated sometime before the end of the year. When this is done, you'll see a bunch of BTC sent to 17RTT[...]. The forkcoins for the other BTC will not be liquidated soon.

Should've done it at 0.2BTC :-(. Although it is a bit nicer that you're not using a bull run to manipulate the new comers from retail that they're on to something good by trying to drop your bags there...

Kill you is the village idiot of the collectibles board Theymos, lovely kid sometimes but doesn’t have too many brain cells,
Lol. Grin

He was kicked out of the military and the word on the grapevine it was for attempting to touch livestock inappropriately

In almost every country the guy with the proof would probably be convicted for longer...



Nice to know the funds are with the forum (in its namesake currency). It might be nice to see another contest with the prize pool coming from the BTG forks (or even subsidise the art contest).


Are the remaining minor fork coins still held in escrow for the forum by OGNasty?
ReAdY aNd WaItInG fOr ThE pUmP!!!! Grin

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December 01, 2019, 01:07:21 PM
Merited by malevolent (1), JayJuanGee (1), Anduck (1)
 #15

First: I've been wondering about this for a while now, and although I don't want to point fingers, I do like transparency so here it goes: What happened to the "dividend" from airdrops based on Bitcoin holdings?

http://transition.obyte.org/ shows that treasurer address 1Eog8UqRFLufC71rBLt2nYgfUDskgxAyVF joined the Byteball airdrop with 500.00051 BTC (0.0771% share):
Code:
-----BEGIN BITCOIN SIGNED MESSAGE-----
OOUIJTHWY5PANA7P2YUJX67VVN2QZYIX
-----BEGIN SIGNATURE-----
1Eog8UqRFLufC71rBLt2nYgfUDskgxAyVF
HMdUJW2FnsyZVJAoXhuLuYvt2Zqgdpt5o9xGCqIQqnMVOIyrzkY2ICiwGbAfeCXOiS6SDj/UvRRr+CvIo+zTQJQ=
-----END BITCOIN SIGNED MESSAGE-----
Verified!

https://explorer.obyte.org/#OOUIJTHWY5PANA7P2YUJX67VVN2QZYIX shows the GBYTE (now called OBYTE) received on address OOUIJTHWY5PANA7P2YUJX67VVN2QZYIX: on 09.07.2017 13:58:44, approximately 36.174 GBYTE was received. Out of this, 0.0625*500 = 31.25 GBYTE was thanks to forum funds. At the time, this was worth approximately 7 BTC.

There were later airdrops too, and Stellar Lumens could have produced a similar amount based on Bitcoin holdings, but I don't think that data is publicly available.

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December 01, 2019, 01:56:58 PM
 #16

Interesting finds.

@theymos are these funds with you? Assuming you probably weren’t even aware of these freebies yourself

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December 01, 2019, 02:03:45 PM
 #17

Assuming you probably weren’t even aware of these freebies yourself
Theymos' address with 750 BTC (19XTo6BHpPHSkW5cm183VrgEYpGjVJmQEt) was not in the airdrop, so unless theymos didn't care about (the tax and administrative complications of) ~10 BTC, he didn't know about it.

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December 01, 2019, 02:08:56 PM
 #18

Assuming you probably weren’t even aware of these freebies yourself
Theymos' address with 750 BTC (19XTo6BHpPHSkW5cm183VrgEYpGjVJmQEt) was not in the airdrop, so unless theymos didn't care about (the tax and administrative complications of) ~10 BTC, he didn't know about it.

Ducking whales not caring about 10BTC..

Maybe Theymos gave it to the old treasurer as a tip?

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December 01, 2019, 04:27:30 PM
Merited by LoyceV (2)
 #19

Are the remaining minor fork coins still held in escrow for the forum by OGNasty?

No, after the major coins were transferred to me, ownership of any remaining forkcoins went to OgNasty.

What happened to the "dividend" from airdrops based on Bitcoin holdings?

I didn't know about that. I don't see it as a violation of the treasury agreement, but it's... a bit tacky, I guess. I suppose an analogy would be a fine-art storage company selling selfies with famous artworks.

Theymos' address with 750 BTC (19XTo6BHpPHSkW5cm183VrgEYpGjVJmQEt) was not in the airdrop, so unless theymos didn't care about (the tax and administrative complications of) ~10 BTC, he didn't know about it.

I never participate in these things. They're a series of risks & headaches for a chance at some profit.

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December 01, 2019, 08:47:58 PM
 #20

I didn't know about that. I don't see it as a violation of the treasury agreement, but it's... a bit tacky, I guess. I suppose an analogy would be a fine-art storage company selling selfies with famous artworks.

A bit tacky?  wow Theymos you are a pretty mellow fellow! as below

No, after the major coins were transferred to me, ownership of any remaining forkcoins went to OgNasty.


I'd be pissed as fuck over the GBYTE if someone had profited 7BTC off me and kept it quiet, especially as you show how cool you can be letting OG having the other shitcoins, to me that isn't tacky my man, mind you - we  all know my thoughts on OG and his business practices, ill leave it to others to voice their thoughts.

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