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down n out posted:While HS screams “it’s a currency!!1!” the IRS already decided otherwise and is actively seeking anybody who made large btc profits. Forex is taxed as capital gains. It doesn't matter what you call it, the only sure things are death and taxes.
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Nov 15, 2017 01:45
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Inept posted:IIRC, Bitcoin mining difficulty adjusts every ~2 weeks depending on the number of miners. If no one mines, the difficulty goes down. However, if the mining capacity dropped off by like 80-90% all at once for some reason, I think transaction confirmation speed and rate will also go down 80-90%, and the next adjustment would take more than 2 weeks? So Bitcoin could get to a point where it fucks itself into oblivion if there's a bad crash and everyone moves to mining something else all at once. I might be wrong though because I haven't looked at Bitcoin since about 2011. adjustment isn't tied to a fixed period of time, it's every 2016 blocks which corresponds to about 2 weeks of blocks every 10 minutes.
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Nov 15, 2017 01:49
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COMRADES posted:lol I don't think anyone profited on Bitcoin in 2015 or 2016, and the 2017 tax year isn't over yet. But yeah I'm not surprised that nobody reports it. I've got a CPA so I just let her handle it all.
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Nov 15, 2017 02:00
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rabble rabble posted:how are you guys dealing with taxes when you exchange back into USD? does coinbase issue capital gains statements, or is it more of a stick your fingers in your ears and hope you don't get audited thing? a lot of people who are avoiding taxes on crypto profits are going to regret it
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Nov 15, 2017 02:23
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looks like someone is planning another hard fork of bitcoin on january 2nd, 2018 http://www.bitcoincashplus.org/ by the end of 2018 there will be 20 bitcoins. they're going to run out of names "bitcoin cash gold plus 2x"
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Nov 15, 2017 02:35
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.... fulfilling the original promise of Bitcoin as....
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Nov 15, 2017 02:41
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temple posted:.... fulfilling the original promise of Bitcoin as.... definitely NOT a scam. Only real currencies with intrinsic value are capable of splitting into 20 competing forks whose adherents all accuse the other coins of being fake scams
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Nov 15, 2017 05:42
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"The Real Actual Bitcoin Not The Bad Fork"
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Nov 15, 2017 05:51
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I tried to go buy some milk at the corner store but they only accepted dollarcash and dollargold, and all i had were regular dollars. I tried exchanging 5 dollars for the 400 dollargolds the milk cost at an ATM in the store, but i didn't bring my passport with me, so i couldn't scan it into the ATM to actually get my dollargolds out. By the time i ran home and got back with the passport, dollargolds dropped in value by 50% and the milk now cost 800. I put another 5 dollars in and the ATM bluescreened and stole my whole $10. I tried calling the customer support number on the ATM, but it was just a phone sex line and i got dinged for another $43 before i figured out she couldn't help me with the ATM. Hopefully the next fork of the dollar is the one everybody agrees on and accepts.
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Nov 15, 2017 06:12
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How come the creator of bitcoin won't come out in public
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Nov 15, 2017 06:14
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Dog Jones posted:How come the creator of bitcoin won't come out in public He just wants to play with his trains, leave him alone.
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Nov 15, 2017 06:14
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The bitcoin cash plus page states:quote:On Chain Scalability - Bitcoin Cash Plus follows the Nakamoto roadmap of global adoption with on-chain scaling. As a first step, the blocksize limit has been made adjustable, with an increased default of 8MB. Research is underway to allow massive future increases. quote:The requested budget from BU is $150,000 per year. nChain has agreed to match BU funds 1:1, giving a project budget of $300,000 per year for five years ($1.5M total project budget). Approximately half of the budget is expected to be used to cover server costs, while the other half of the budget is expected to be paid out as wages for contractors, employees and students. quote:We may find that Visa-level transaction throughputs (~3,000 TPS) and gigabyte blocks are not possible with current technology, or that the scope of changes to BU to enable these throughput levels is so vast that we are unable to test up to 1 GB blocks in Year 1. It is also possible that we determine that blockchain technology is simply not suitable for a global payment network, and that scaling must be carried out on “second layers.” In such a scenario, the Gigablock Testnet Initiative would likely be terminated prematurely.
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Nov 15, 2017 13:14
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But that can't be right, geniuses endorse bitcoin and they said from the beginning that it can and should handle the entire world's economy
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Nov 15, 2017 13:50
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Dog Jones posted:How come the creator of bitcoin won't come out in public 
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Nov 15, 2017 16:26
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temple posted:What more do you want? A free lunch.
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Nov 15, 2017 16:33
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amotea posted:The bitcoin cash plus page states: 52 terabytes per year, looking forward to the nerds with huge arrays of drives in a basement
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Nov 15, 2017 16:35
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I thought that guy was outed a couple years ago
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Nov 15, 2017 16:42
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exploded mummy posted:You do realize that there are consequences for changing application parameters that application specific integrated circuits. Especially when the old parameters are now invalid for the application and the old ASIC can't be used. I want to understand bitcoin but I'm convinced I will never understand what you've just said. Sounds like you probably owned that guy, though.
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Nov 15, 2017 17:08
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You can now use square cash to buy Bitcoin! https://www.forbes.com/sites/laurashin/2017/11/14/squares-cash-app-a-new-place-to-buy-and-sell-bitcoin/ Forbes posted:In that same discussion, he perhaps gave a hint as to why Square's Cash is testing this out. He recounted going home to St. Louis over the holidays and being asked by multiple people how to buy Bitcoin. "I said why do you want to buy Bitcoin, and they said, I heard it was a fast, easy way to make money. So I said, you want to treat it like an investment, and they said yes, someone said it's like digital gold... It was just amazing how mainstream the brand is," he said.
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Nov 15, 2017 17:24
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kolby posted:I want to understand bitcoin but I'm convinced I will never understand what you've just said. SNES games simply wont work in an NES is the really basic point here. Change bitcoin too much and the hardware has to be replaced.
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Nov 15, 2017 19:15
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kolby posted:I want to understand bitcoin but I'm convinced I will never understand what you've just said. An ASIC is basically a hardware chip that's specifically built to do one exact thing only (and do that one thing very efficiently). https://en.wikipedia.org/wiki/Application-specific_integrated_circuit Now the problem with these is that their very nature makes them not reprogrammable to any significant degree. This has pretty severe implications with cryptocurrency because how they're designed to mine will ONLY work for one version of a coin. You can't take an ASIC, or rack of ASIC's, built to mine bitcoins, and change them to mine another cryptocurrency. This includes if the very nature of bitcoin changes significantly. An ASIC built for a version of a coin that's fallen out of favor is effectively worthless, as in you straight-up have to throw it out and can't reuse it or even re-purpose it for something else (because its integrated programming can only do the one thing that's now pointless to do and nothing else). Now consider the fact that the big forces in the Bitcoin world are Chinese factories running hundreds of thousands of these things. Imagine how interested they are in completely throwing out the giant warehouse full of every ASIC they have, designing and paying for new ones, and re-configuring everything.
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Nov 15, 2017 19:51
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quote:"I said why do you want to buy Bitcoin, and they said, I heard it was a fast, easy way to make money. So I said, you want to treat it like an investment, and they said yes, someone said it's like digital gold... It was just amazing how mainstream the brand is," he said. ahahahahahahahahahaha
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Nov 15, 2017 19:56
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Don't they use gold in circuit boards?
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Nov 15, 2017 19:59
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Dog Jones posted:How come the creator of bitcoin won't come out in public Question: Where are all these zillionaires? If bitcoin isn't a house of cards ponzi you'd think everyone would be cashing out.
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Nov 15, 2017 20:06
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Russian and Chinese Mafiosi are probably a little hush hush about their money
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Nov 15, 2017 22:21
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Rufio posted:Don't they use gold in circuit boards? i design digital circuit boards so i use bitcoin, aka digital gold, in my circuits
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Nov 15, 2017 22:26
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Lol everyone that posted during the fork drama about how bitcoins were CRASHING extra lol at "coins can no longer be updated because ASICS" and people dumb enough to believe it well done dudes, you sure called this one just like the iphone / anroid big hands thing - NOBODY WILL NEED A PHONE BIGGER THAN THE IPHONE 4 STEVE JOBS HIMSELF SAID SO
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Nov 15, 2017 22:38
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Ham Sandwiches posted:Lol everyone that posted during the fork drama about how bitcoins were CRASHING No one does need the bigger phones, they just made all the new ones big like if you don't get a choice it doesn't mean you liked it
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Nov 15, 2017 22:44
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Fried Watermelon posted:No one does need the bigger phones, they just made all the new ones big Haha imagine being this unable to predict the future and obvious trends and then feeling the need to stake out your obvious correct position on bitcoin  Sorry luddites & morons, it must be rough being unable to extend out trendlines or draw obvious conclusions about how things are going
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Nov 15, 2017 22:46
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Ham Sandwiches posted:well done dudes, you sure called this one just like the iphone / anroid big hands thing - NOBODY WILL NEED A PHONE BIGGER THAN THE IPHONE 4 STEVE JOBS HIMSELF SAID SO That's like the third time you mentioned phone sizes. You're still bitter at all of the people that made fun of your phablet, huh
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Nov 15, 2017 22:46
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Inept posted:That's like the third time you mentioned phone sizes. You're still bitter at all of the people that made fun of your phablet, huh I think it's incredible that the same crew of idiots that made fun of upcoming stuff for YEARS, haha those big phones, lmao, anroid lmao, with dumb unfunny jokes and endless circle jerks, has found their new cause to rally around and it turns out that they are just as clueless as they were when making fun of big phones, its literally the same people, only this time talking themselves out of money 
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Nov 15, 2017 22:48
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Ham Sandwiches posted:Haha imagine being this unable to predict the future and obvious trends Hmm it seems our phone sales are going down on phone sizes we no longer make, I wonder why?
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Nov 15, 2017 22:48
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Fried Watermelon posted:Hmm it seems our phone sales are going down on phone sizes we no longer make, I wonder why? Imagine spending years making fun of those anroid dumbasses with their big phones, who needs a phone that big!! only to find out, that you were the dumbass. The sad plight of yospos posters and unix sysadmins everywhere.
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Nov 15, 2017 22:49
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We're all going blind from staring at our phones so that why they're getting bigger. Steve Jobs didn't have very intelligent medical opinions, he'd tell you this if he was alive today
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Nov 15, 2017 22:50
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Gumbel2Gumbel posted:We're all going blind from staring at our phones so that why they're getting bigger. That's so weird that IT janitors with woke CGA avatars could possibly be wrong and dumb about technology trends despite working in it all day? And spend years making fun of the very thing that was about to happen. How could this be?! Maybe if they had self published a book about big phones it would have been different.
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Nov 15, 2017 22:52
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Ham Sandwiches posted:That's so weird that IT janitors with woke CGA avatars could possibly be wrong and dumb about technology trends despite working in it all day? And spend years making fun of the very thing that was about to happen. How could this be?! Maybe if they had self published a book about big phones it would have been different. are you doing okay today
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Nov 15, 2017 22:58
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Fried Watermelon posted:are you doing okay today Buttcoin is crashing so he's having a meltdown because he tied his sense of self worth to internet Chuckie cheese tokens
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Nov 15, 2017 23:22
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Dog Jones posted:How come the creator of bitcoin won't come out in public he sold all his bitcoin at $10 then suicided when it was at $1000 (maybe)
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Nov 15, 2017 23:25
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Blade Runner posted:Buttcoin is crashing so he's having a meltdown because he tied his sense of self worth to internet Chuckie cheese tokens Oh yeah it's crashing?
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Nov 15, 2017 23:48
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Fried Watermelon posted:are you doing okay today Lmao this broken clock isn't even right twice a day  but he's here to give you advice on cryptocurrencies
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Nov 15, 2017 23:51
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