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Don Lapre posted:And the winner is Some deleted post? Let me guess: He took out some money from retirement/grandma’s house deed/daughter’s cancer treatment/Mexican drug lords, and spent it on bitcoins when it was at 20 and then it crashed
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Dec 31, 2017 03:37
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...and he's asking how to trade on margin because it's at such a discount right now he would be irresponsible if he didn't pick up more!
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Dec 31, 2017 03:53
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Ohh lol. he took a 60k heloc and bought Bitcoin at 19k
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Dec 31, 2017 03:55
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Don Lapre posted:Ohh lol. he took a 60k heloc and bought Bitcoin at 19k Alright, but was it on bitmex and on margin.
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Dec 31, 2017 04:15
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drat it feels good to be a banker.
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Dec 31, 2017 04:55
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Don Lapre posted:And the winner is Post got deleted, I just see a bunch of people telling the dude that he’s an idiot. E: Christ. On margin? I get gambling, I get investing what you can lose, hell, I get cashing out an asset to invest (as dumb as that is, I can understand it). Investing on margin though? gently caress. Such a loving awful idea. tehinternet fucked around with this message at 15:16 on Dec 31, 2017 |
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Dec 31, 2017 15:14
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QuarkJets posted:ETC is the fork where the person who "stole" the DAO funds gets to keep everything, ETH is the fork where the "theft" was reversed. That's the only difference. It's up to you whether that matters
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Dec 31, 2017 16:42
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Sneeze Party posted:It's possible that
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Dec 31, 2017 17:13
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How dare you insult the digital pog marketplace
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Dec 31, 2017 17:17
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Don Lapre posted:Ohh lol. he took a 60k heloc and bought Bitcoin at 19k  If he bought video cards he could at least re-sell them. What a goof.
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Dec 31, 2017 17:50
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tehinternet posted:Post got deleted, I just see a bunch of people telling the dude that he’s an idiot. Margin trading alone isn't crazy. What's crazy is doing it on Bitcoin, which averages 10% daily volatility. Trading that with the 10,000% leverage Bitmex provides is betting on coinflips. That 10,000% excludes the leverage employed by financing the position with a HELOC. For a comparison, front-month 30-day Fed funds futures contracts are 50,000,000% leverage. But since there's only 0.005% daily volatility, if you lose, you can offset the loss by not ordering pizza for dinner that night (immense sacrifice).
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Dec 31, 2017 21:33
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I just plugged in some hard drives the other day I had lying around and started mining Burstcoin in a pool during that spike and Mcafee announcement. 2 of the 4 hard drives I write "B" on for bad, and the SMART reports don't look great, but whatever, this poo poo isn't important. I can't wait until I mine 1 BURST and can set a cool name for my wallet Thinking XxXCrypto1337NEO6969XxX or something I can't wait SSH IT ZOMBIE fucked around with this message at 01:24 on Jan 1, 2018 |
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Jan 1, 2018 01:19
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Is burstcoin the one where the feds burst into your house looking for CP?
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Jan 1, 2018 02:34
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Rexxed posted:Is burstcoin the one where the feds burst into your house looking for CP? Since that and drugs is all cryptocurrency is ultimately good for, that would be all coins.
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Jan 1, 2018 03:59
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Is there a "respectable" exchange that does XRB?
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Jan 1, 2018 05:25
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Nitrousoxide posted:Is there a "respectable" exchange that does XRB? Not even the exchanges that never saw a shitcoin they didn't like. they have been doing journalistic outreach though: https://twitter.com/ruskin147/status/943889566544605185 yeah, that was a RaiBlocks cultist
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Jan 1, 2018 11:03
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So that whole Nicehash to Coinbase direct with no fees thing apparently has been working for days now. But thats just nicehash wallet to Coinbase wallet, not if you've already been mining to an external address (even if it is Coinbase...) Since im just in limbo with over 0.01 but not at all willing to wait until 0.1, I might switch over to a Nicehash wallet (lololololol) and transfer everything out to Coinbase as frequently as possible and hopefully the other funds will transfer as soon as the cutoff is lifted. Edit: yeah the coinbase transfer limit is just 0.001 lol. So daily transfers or more out of that hellhole 1gnoirents fucked around with this message at 20:28 on Jan 1, 2018 |
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Jan 1, 2018 20:18
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1gnoirents posted:So that whole Nicehash to Coinbase direct with no fees thing apparently has been working for days now. But thats just nicehash wallet to Coinbase wallet, not if you've already been mining to an external address (even if it is Coinbase...) The whole thing is bullshit - they actually have to pay transfer fees for external wallets so they don’t like that, I’m guessing. I suppose they could substract the fees from the miner payment, but no let’s just let the money ride for a few more weeks
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Jan 1, 2018 21:06
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From what I gathered the only way this works with no fees is Coinbase has made an agreement with Nicehash to accept the funds outside of the blockchain. Coinbase essentially fronts money to your address and Nicehash has to pay them for it later, presumably in economical large transfers. The funny side to all of this for me is that for a brief moment I will have 3 separate accounts with Nicehash with "my" money tied up
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Jan 1, 2018 21:24
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Don't shuffle poo poo around sketchy wallet services. Wait for the backlog to clear, it's only at 120k now, down from 200+ a week ago. Once the market has calmed down, sell everything and buy back in after the crash.
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Jan 1, 2018 21:46
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Dr. Fishopolis posted:only at 120k now Currency of the future
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Jan 1, 2018 21:55
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Guys in our consumption driven economy you are spending too quickly, we need to pare it down to a more reasonable 4-6 transactions per second.
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Jan 1, 2018 21:57
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Don Lapre posted:Currency of the future That means there’s 120k people who desire the honeys of the fruit of the crypto tree, so bitcoin is a large success so far! It can always be patched to be faster later
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Jan 1, 2018 23:16
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Any good recommendations for an Ethereum wallet on the desktop (would also be OK with android)? I'm trying to use the standard desktop Ethereum wallet - the light mode doesn't work and the huge 40+ GB blockchain download has no end in sight... Ideally, something that doesn't take two days to boot and sync. Are there disadvantages of using another type of wallet, i.e., fees? Really not familiar with the Ethereum wallets.
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Jan 2, 2018 01:46
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Rexxed posted:Is burstcoin the one where the feds burst into your house looking for CP? That's Sia. Burstcoin is just proof of capacity. You write nonce's to your storage for mining operations.
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Jan 2, 2018 03:30
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Deathreaper posted:Any good recommendations for an Ethereum wallet on the desktop (would also be OK with android)? I'm trying to use the standard desktop Ethereum wallet - the light mode doesn't work and the huge 40+ GB blockchain download has no end in sight... Ideally, something that doesn't take two days to boot and sync. Are there disadvantages of using another type of wallet, i.e., fees? Really not familiar with the Ethereum wallets. I tried to sync the ethereum blockchain for two weeks before giving up and buying an SSD for it specifically. I finally managed to finish the sync then. There are all sorts of posts of similar issues from people trying to sync with "slow" HDD storage. I guess the devs are trying to fix it with this light client but it's not really there yet. I believe online and cloud based wallets are still less trustworthy than the full downloaded wallet for Ethereum.
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Jan 2, 2018 03:34
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Numinous posted:
You think? What made you lose faith, the 300million erased(not even stolen - just accidentally deleted) from the Parity online wallet? Such poor faith in crypto
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Jan 2, 2018 03:45
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Dr. Fishopolis posted:Don't shuffle poo poo around sketchy wallet services. Wait for the backlog to clear, it's only at 120k now, down from 200+ a week ago. Once the market has calmed down, sell everything and buy back in after the crash. Lol Bitcoin can only do 7 transactions per second versus visas like 40-50k. It's such a bloated mess.
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Jan 2, 2018 04:28
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Numinous posted:I tried to sync the ethereum blockchain for two weeks before giving up and buying an SSD for it specifically. I finally managed to finish the sync then. Thanks for the heads up - I gave up half way through and in the process realized I can send my Ethereum to the exchange from MPH directly (to be sold, with the real money going into my bank account following that). I let the wallet run for half a day on a 4.3 GHz 5960x with a 1.2TB Intel 750 NVMe SSD on a 200Mbps connection - and it wasn't even close to being finished. This is going to be super great and simple for mass adoption, it's obvious, I just need to upgrade to an Optane drive to make this viable! Currency of the future! Edit - thinking of it, the Optane drives now come with Star Citizen, I can back 2 winners in 1 purchase! Deathreaper fucked around with this message at 06:31 on Jan 2, 2018 |
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Jan 2, 2018 05:26
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Nitrousoxide posted:Lol Bitcoin can only do 7 transactions per second versus visas like 40-50k. Sure but you can't install Visa's software on your PC. Also how much time has Visa been working on their systems, while Bitcoin is completely new. This is like Linux vs Windows all over again, but with currency. And we all know this is the year of Linux on the desktop
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Jan 2, 2018 06:24
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Comfy Fleece Sweater posted:Sure but you can't install Visa's software on your PC. Also how much time has Visa been working on their systems, while Bitcoin is completely new. It's Linux vs Windows except the price ratio somehow reversed, with Microsoft offering competitive rates and *nix providers charging out the nose And also there's a civil war every time someone proposes patching a major security vulnerability or usability issue
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Jan 2, 2018 06:33
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Comfy Fleece Sweater posted:Sure but you can't install Visa's software on your PC. Also how much time has Visa been working on their systems, while Bitcoin is completely new. 2017 was the Year of Linux on the Windows Desktop though QuarkJets posted:It's Linux vs Windows except the price ratio somehow reversed, with Microsoft offering competitive rates and *nix providers charging out the nose Ah, so, the late 80s/early 90s.
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Jan 2, 2018 06:33
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Comfy Fleece Sweater posted:You think? What made you lose faith, the 300million erased(not even stolen - just accidentally deleted) from the Parity online wallet? Such poor faith in crypto More like poor faith in humanity. Either in their ability to code a stable wallet or not steal 300 million worth of others coins. The stolen coins seems almost a matter of when and not if though. Kind of expected. The Mist wallet is a pile of trash - 40GB block chain and it can't even perform an initial sync. The Bitcoin Core wallet at least manages to perform this feat slowly but stably with a 150GB block chain.
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Jan 2, 2018 06:40
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Burstcoin's wallet is only a couple gigs and it doesn't burn a lot of power since it's a proof of capacity coin - storage instead of CPU. Solutions to the blockchain puzzes sit on your hard drive in what they call plots. It's kinda fun poking around in the database too - anyone can create assets\shares though it isn't a wildly used feature. As far as I know, there is no central way to search them, so I was poking in the blockchain directly. Here are things that had any volume of trades from December, provided my SQL is good. select cast(b.asset_id as unsigned integer), name, sum(b.quantity), from_unixtime(1407722400 +(max(b.timestamp))), a.description from asset a inner join asset_transfer b on a.id = b.asset_id and from_unixtime(1407722400 + b.timestamp) >= '2017-12-01' group by a.id order by max(b.height) desc http://dosnetsynth.com/test.csv Here are some "good" ones http://burstcoin.online - Look at those legit silver pics! "Mystery" asset - https://www.reddit.com/user/AnsiBurst/ - Clearly SEC approved!! Check out the mad-diluted FleX asset! The pool I'm part of is "BTFGPool" - They sell assets that give dividends. The asset is trading at like a 1:10-1:50 P/E ratio or something semi crazy, low volumes. It's a fun pool though, good for people without dozens of TB of storage. This is kind of fun, as a proof of concept\toy. The code is interesting and it's up on github. A new team picked up maintaining it recently so interest is spiking a bit. It spun off a ton of drama, from people who are super into the financial aspect of the coin. If you actually dig into it, it has like 200 public nodes, so I kinda  at the gravity people treat these coins with.The blockchain is only a few gigs, despite the coin being from Aug 2014, so it's super simple to set up a full node. It runs on MariaDB thanks to new development. Once you have drives plotted, it would run on a raspberry PI without much issue. SSH IT ZOMBIE fucked around with this message at 07:43 on Jan 2, 2018 |
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Jan 2, 2018 07:32
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From the BFC thread, everyone mining should give this a read: https://www.reddit.com/r/ethtrader/comments/7nhj2u/us_tax_guide_for_eth_and_other_cryptocurrencies/ tl;dr If you've been mining or buying/selling/trading cryptocurrencies then you should start thinking about the tax implications now rather than later
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Jan 2, 2018 09:49
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reading through the last 2 months of this thread was a real hoot1gnoirents posted:Last time we had a massive backlog that cleared the price of buttcoin went up $10000 *bitcoin crashes* 1gnoirents posted:If i were brave and had money id be buying a big chunk
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Jan 2, 2018 13:01
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QuarkJets posted:From the BFC thread, everyone mining should give this a read: 14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction? Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency. Lol who's gonna use crypto for any purchases when you have to pay 20% tax on it? Anyone who voted for Trump and is heavily into crypto is hosed.
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Jan 2, 2018 14:08
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Klyith posted:reading through the last 2 months of this thread was a real hoot Yes I wish I had put in all the money I could at 10k because it swung 40% up within a single day when transactions dipped below 200k, thanks for the reminder lol
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Jan 2, 2018 14:26
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Nitrousoxide posted:14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction? 20% on capital gains, if you buy or mine it at one price and then use it when it is 50% higher...then yeah. Maybe it will stop the wild swings. Edit: Haha, apparently if you mine it, it is treated as income at that point. That is silly. Should be when you use it and convert it to real money. Or, hey, a VAT replacing our antiquated and complex tax code would also work. SSH IT ZOMBIE fucked around with this message at 15:54 on Jan 2, 2018 |
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Jan 2, 2018 15:49
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Etheruem going to the moon  http://crypto-pussies.com/ It is what you think, click with caution. Ethereum up 17% since its release 6 hours ago
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Jan 2, 2018 16:04
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