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comedyblissoption posted:you shouldn't feel jealous you also forgot things like losing your wallet file/key (e.g. in a hard drive crash), as well as irreversible mistakes like transferring to a typo'ed address.
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Dec 15, 2017 14:05
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oh yah you also have to avoid accidentally selling all your bitcoins for like 1/10,000th of its USD value
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Dec 15, 2017 14:09
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you also have to avoid having an easily guessable password susceptible to dictionary attacks
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Dec 15, 2017 14:10
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you also need to have avoided just buying stocks or index funds or something instead of a super risky longshot
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Dec 15, 2017 14:11
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you also need to not get too greedy and actually get out before the bubble pops and somehow withdraw over a long period of time when daily USD withdrawal limits are low
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Dec 15, 2017 14:12
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shitcoin
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Dec 15, 2017 14:44
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This other day I had a family gathering and they, the least tech savvy people ever, started talking about bitcoin. Banks here in Sweden are also investing in it
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Dec 15, 2017 14:47
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You know the old saying, "When the Swedish banks are giving you stock advice it's time to get out."
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Dec 15, 2017 14:48
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Good plan. I think I’ll take out a second mortgage so that I can short Bitcoin on leverage
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Dec 15, 2017 14:55
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2010 era BTC hodler donating just under $100M to charity To be honest this is the first one of these over a couple of mil I've ever seen from an early adopter. Good for him, I'm honestly really impressed.
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Dec 15, 2017 15:14
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Man I would love to think that is something I would do but I'd probably just end up being a rich rear end in a top hat or accidentally losing it all when I tried to cash out.
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Dec 15, 2017 15:35
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kolby posted:Man I would love to think that is something I would do but I'd probably just end up being a rich rear end in a top hat or accidentally losing it all when I tried to cash out. according to the website he still has enough to be a rich rear end in a top hat
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Dec 15, 2017 16:25
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How many bitcoins does a dyson sphere cost, like 1 or 2?
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Dec 15, 2017 16:27
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Adar posted:2010 era BTC hodler donating just under $100M to charity A bitcoiner who isn't a shithead. A Christmas miracle.
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Dec 15, 2017 16:30
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univbee posted:you also forgot things like losing your wallet file/key (e.g. in a hard drive crash), as well as irreversible mistakes like transferring to a typo'ed address. This. I remember reading about bitcoin in 2010 and was going to throw a few dollars on it/mine it on my PC. I'm so glad I didn't because I would've misplaced it by now and I'd just be kicking myself every time I'm sitting in commute traffic.
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Dec 15, 2017 16:48
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Dude's doing a good thing and I don't want to knock that, but I do wonder if that's a tax dodge. There's not a ton of difference between $10m and $10b of Bitcoins with the hilarious withdrawal limits every exchange has, giving away a bunch so you can avoid taxes on the ones you can withdraw seems like a reasonable enough strategy.
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Dec 15, 2017 16:49
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AreWeDrunkYet posted:Dude's doing a good thing and I don't want to knock that, but I do wonder if that's a tax dodge. There's not a ton of difference between $10m and $10b of Bitcoins with the hilarious withdrawal limits every exchange has, giving away a bunch so you can avoid taxes on the ones you can withdraw seems like a reasonable enough strategy.
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Dec 15, 2017 17:05
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Legitimate congrats to the guy who essentially won the lottery, and he's already proven to be a better person with money than the most famous rich shut-in
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Dec 15, 2017 17:07
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gently caress that guy for not reinvesting it in more bitcoin and more graphics cards. Giving the money to charity will only feed the hungry for a limited time, investing in bitcoin is going to change the world forever
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Dec 15, 2017 17:37
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It would be a thing of beauty, if the tipping point of the bubble popping was the liquidation of holdings by a charity.
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Dec 15, 2017 17:38
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Bitcoin industry is keeping the graphics card industry artificially high, pricing out the majority of gamers why aren't bitcoiners mad at this
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Dec 15, 2017 18:07
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PC gaming is who has the biggest
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Dec 15, 2017 18:29
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thegasman2000 posted:PC gaming is who has the biggest I'd like to get a new gpu though
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Dec 15, 2017 18:32
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Fried Watermelon posted:Bitcoin industry is keeping the graphics card industry artificially high, pricing out the majority of gamers Bitcoin industry is driving innovation in number of boob polygons that can be rendered per second in my new Steam games.
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Dec 15, 2017 18:42
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Adar posted:2010 era BTC hodler donating just under $100M to charity You guys don’t get the Soul of Bitcoin. He’s not doing it because he’s nice, but because in his mind it will lead to wider Bitcoin adoption by the public at large
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Dec 15, 2017 19:11
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So does he donate actual bitcoins or cashes out each million and sends dollars?
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Dec 15, 2017 19:14
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that guy just realized how many decades it would take to cash out $100M and that bitcoin would probably crash well before then
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Dec 15, 2017 19:17
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Paladinus posted:So does he donate actual bitcoins or cashes out each million and sends dollars? What do you think
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Dec 15, 2017 19:18
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Comfy Fleece Sweater posted:What do you think Well, I don't know. I'm too lazy to read his website. But considering that cashing out a million dollars is probably not an easy thing to do, he just donates bitcoins. But why/how do charities accept bitcoins?
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Dec 15, 2017 19:22
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I'm wondering as well, I doubt many charities would want to deal with bitcoin at all. They don't have the technical expertise and accounting is a pretty big deal. They would probably be unwilling to write a tax receipt until they cached out. From the bitcoiner's POV it would make a lot of sense to donate enough bitcoin at today's market rates to greatly reduce the taxes on the coins you've already liquidated if the charities would agree to it.
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Dec 15, 2017 19:35
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Paladinus posted:Well, I don't know. I'm too lazy to read his website. But considering that cashing out a million dollars is probably not an easy thing to do, he just donates bitcoins. But why/how do charities accept bitcoins? Quite a few set up a merchant account with Coinbase or Bitpay so they never have to touch the poop.
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Dec 15, 2017 19:38
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divabot posted:Quite a few set up a merchant account with Coinbase or Bitpay so they never have to touch the poop. Still a bit unusual. I donate to different charities quite regularly, and I don't think even one accepted bits.
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Dec 15, 2017 19:46
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Paladinus posted:Still a bit unusual. I donate to different charities quite regularly, and I don't think even one accepted bits. Have you tried telling them you’ll donate one million dollars but in bitcoin? They’ll figure it out For your 20 bucks? Ehhhhhh
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Dec 15, 2017 19:54
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AreWeDrunkYet posted:Dude's doing a good thing and I don't want to knock that, but I do wonder if that's a tax dodge. There's not a ton of difference between $10m and $10b of Bitcoins with the hilarious withdrawal limits every exchange has, giving away a bunch so you can avoid taxes on the ones you can withdraw seems like a reasonable enough strategy. I mean, it's a deduction not a credit If you make 500 mil and you donate 100 mil, you still pay taxes on 400 million and overall have way less money than if you never donated (vs paying taxes on 500 and keeping all of it). The IRS just isn't charging you taxes on the money you immediately passed along, that's all.
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Dec 15, 2017 20:00
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Hearty loving LOL that any - literally any - nonprofit would say "no thanks too much of a hassle!" when offered an asset currently appraised at 100M.
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Dec 15, 2017 20:04
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Stefan Prodan posted:I mean, it's a deduction not a credit
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Dec 15, 2017 21:13
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EAT FASTER!!!!!! posted:Hearty loving LOL that any - literally any - nonprofit would say "no thanks too much of a hassle!" when offered an asset currently appraised at 100M. They're going to have a million and one questions to protect themselves from being complicit in fraud, money laundering, and tax evasion.
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Dec 15, 2017 21:14
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Andy Dufresne posted:They're going to have a million and one questions to protect themselves from being complicit in fraud, money laundering, and tax evasion. yeah, there's a dude on the YOSPOS thread with this precise problem, how the gently caress to handle a donation of this poo poo sanely. It turns out to be a hard problem from the charity's perspective. Wikimedia and Mozilla use a payment provider. They're medium-big for charities and get a dribble of bitcoin donations.
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Dec 15, 2017 22:01
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HCFJ posted:according to the website he still has enough to be a rich rear end in a top hat Here's the original account where he pooled them all and subsequently transferred the 5k from - https://live.blockcypher.com/btc/address/379AhUtKwrrzZ1kRN4W6eJV9UeQLiCwwXm/ He's moved the remaining 4k around a bit more but yeah, that's $68mil left over. e: here's where his remaining 4k went to - https://live.blockcypher.com/btc/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g/ I guess that has to be the wallet for an exchange?
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Dec 15, 2017 22:07
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Nessus posted:I thought the way it worked was that, up to some plausible limit, you just said "I gave X to charity" and took X off your tax bill, while of course whatever turd they're pushing through Congress right now changes that. Big thing with charitable deductions that most don't realize is that you have to have enough deductions to itemize to actually use it. If your itemized deductions are less than the standard deduction then one would take that. Even if your itemized deductions exceed the standard deduction it can often be more prudent to take the standard deduction since there is no audit risk from doing so, unlike itemized deductions.
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Dec 15, 2017 22:07
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