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life is binary if you choose to be a nocoiner you are a zero when you buy your first coin you become a one
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Jan 14, 2018 23:30
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sounds a little DUBIous imo dude is like a cult leader, has a lot of devoted followers and any criticism is met with "yeah but charity" which apparently excuses any awfulness about him. i recall seeing a (vod of a)fundraising stream for the coin or something and he'd be cheering on for any donations for him (or his ""charity"") and being really disappointed at donations to actual charities.
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Jan 14, 2018 23:30
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Moxxis Endowment posted:drat, that guy really hated his wife. You'd think a guy with that kind of money could hire a lawyer to spring him when there's no charge
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Jan 14, 2018 23:59
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So, my friend is claiming that he will be a millionaire in no time by buying and selling thousands of dollars of poo poo coins. He claims that all you have to do is watch the graph in real time. You wait for a decline and then at the beginning of an uptick, you buy it, and sell at the next downtick. In my opinion, this is just another get rich quick scheme that allows him to smoke copious amounts of weed in his mother's house.
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Jan 15, 2018 00:01
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jonathan posted:I highly doubt he was satoshi and never claimed that. But the timeline of when he was talking about the project jives with my theory that he helped or contributed to the original design. When they started to become accepted for buying drugs he pretty much considered the project a success. Crazy! Remember chatting with him 20 years ago.
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Jan 15, 2018 00:03
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Seymour Butts posted:So, my friend is claiming that he will be a millionaire in no time by buying and selling thousands of dollars of poo poo coins. He claims that all you have to do is watch the graph in real time. You wait for a decline and then at the beginning of an uptick, you buy it, and sell at the next downtick. In my opinion, this is just another get rich quick scheme that allows him to smoke copious amounts of weed in his mother's house. There are no get rich quick schemes, only hold/hlod/hodor.
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Jan 15, 2018 00:04
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jonathan posted:That's him but holy poo poo did you read that second link ? Dennis Moran is a very bitcoin name and that second link has a very bitcoin picture of him, so in my head canon that makes him the most likely candidate for the true identity of Satoshi The father of cryptocurrency:  The words on his headstone: quote:Anyway RIP Coolio! I hope your reading this and upvoting from the computer terminal in heaven, Your on God's blockchain now. God Speed Dennis! When Im bitcoin rich i will destroy some bitcoins in your honor
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Jan 15, 2018 01:34
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zaurg posted:Crazy! Remember chatting with him 20 years ago. Yeah he was part of efnet #quake in the mid 90's and we all played quake.
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Jan 15, 2018 01:48
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QuarkJets posted:Dennis Moran is a very bitcoin name and that second link has a very bitcoin picture of him, so in my head canon that makes him the most likely candidate for the true identity of Satoshi his friend should find his computers and become the bitcount of monte cristo
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Jan 15, 2018 01:51
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https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.htmlquote:He runs Distributed, a 180-page magazine about cryptocurrency that comes out about once a year. He is now raising $75 million for his hedge fund, Ausum Ventures (pronounced “awesome”). He said his closest friends are moving to Puerto Rico to get around paying taxes. So how does moving to Puerto Rico, which is a US territory, allow them not to pay US taxes? Also doesn't he know that Atlantis, yknow, sunk? This is the only smart person in the article: quote:Nearby was Chante Eliaszadeh, 22, a law student at the University of California, Berkeley, who started the Berkeley Law Blockchain group. Ccs fucked around with this message at 02:28 on Jan 15, 2018 |
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Jan 15, 2018 02:24
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Ccs posted:https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html they probably just assumed puerto rice was a libertarian paradise since the federal government won't actually touch it
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Jan 15, 2018 02:27
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Ccs posted:https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html If you're a bona fide resident of Puerto Rico, you only report on Form 1040 the non-Puerto Rico sourced income - the Puerto Rico sourced income is only taxed by Puerto Rico at a 4% tax rate, if I recall correctly.
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Jan 15, 2018 02:30
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That stocks guy moved to Puerto Rico to avoid taxes, it’s not unheard of (Peter Schiff?)
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Jan 15, 2018 02:33
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But if they're making capital gains from bitcoin or stocks wouldn't that still be taxed at the normal US rate since the money is made on the US stock market? Or by living in Puerto Rico does that count as Puerto Rico sourced income? Anyway if you're rich, living on an island with failing infrastructure like Puerto Rico to avoid taxes doesn't seem worth it.
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Jan 15, 2018 02:39
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I'm no money laundering expert, but couldn't they just wire the money to an offshore swiss bank account/cayman isles for the same tax dodge effect?
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Jan 15, 2018 02:41
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Alan Smithee posted:his friend should find his computers and become the bitcount of monte
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Jan 15, 2018 02:49
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Ccs posted:This is the only smart person in the article: loving lol
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Jan 15, 2018 03:02
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A libertarian modern day Atlantis. Isn't that the plot to Bioshock?
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Jan 15, 2018 03:13
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Alpha Mayo posted:A libertarian modern day Atlantis. Isn't that the plot to Bioshock? is a man not entitled to the sweat of his butt? A man chooses, a slave obeys! *gets hit by hammer*
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Jan 15, 2018 03:16
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There is alot of talk about scalability, throughput & transaction costs - and the fact that BTC currently sucks at all of those is causing it’s price to stagnate whilst other alt coins that say they’ve solved the problem are rallying in price. The part that most people are missing is that when the Lightning Network successfully rolls out, BTC congestion + transaction costs will wall dramatically, whilst throughput will increase by then same factor. Which of these small coins are going to compete with a BTC that is just as fast, just as cheap, and already has so much infrastructure built up around it? None. So my 2c - invest for the long term. BTC is one of the best value opportunities right now
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Jan 15, 2018 03:19
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For all the effort getting the bitcoins, one could further their job skillset and gain financially and grow as a human.
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Jan 15, 2018 03:30
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jonathan posted:For all the effort getting the bitcoins, one could further their job skillset and gain financially and grow as a human. i choose the third option: doing neither
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Jan 15, 2018 03:40
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Coinbase is not your only option if you want to legitimately buy Bitcoin, Ethereum or Litecoin, at the moment it is the most well known due to their marketing efforts, however that does not mean that other options are not available. Below are some of the other well known sites that allow you to purchase Bitcoin, Ethereum and Litecoin. Global Exchanges: CEX - You can buy Bitcoin and Ethereum instantly. Supports all countries worldwide and verification is fast and simple. You can also buy and sell up to 10 Bitcoins or 200 Ethereum per order and the fees are lower than most of the other exchanges I have tried. Verified accounts can deposit/withdraw up to $10,000 worth per day, or up to $100,000 per month via both credit card and bank transfer, at higher verification levels all limits are removed. At one point they had to temporarily stop user registrations due to the rapid influx of new users. Coinmama - This is a good site to buy Bitcoins and Ethereum instantly with a debit or credit card. Accounts verified with a passport can buy $10,000 worth, accounts verified with 2 forms of ID can buy $50,000 worth and accounts with Level 3 verification and above have no limits. This site supports all countries worldwide. European based exchange: BitPanda - If you live in Europe this is the best option hands down, you can buy and sell Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash instantly and Gold verification only takes about 10 minutes - this exchange is only available for European customers at the moment but it is a really excellent exchange. Gold verification allows you to buy 10,000 Euros (£9,245) worth of cryptocurrency a day and sell up to 15,000 Euros (£13,860) worth which will come in handy when you need to cash out. So as you can see, Coinbase is not the only option, it is only the most well known but there are other, long established exchanges out there that allow people to purchase cryptocurrencies with cash.
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Jan 15, 2018 03:49
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If everyone mined cryptocurrencies, poverty would be solved. You can mine a new GPUs worth of money in about two months. Use that money to buy another GPU and you double your income. Every two months you'd double your income again and eventually you'd be mining a million dollars worth of crypto a year and you'd be rich. If everyone did this, no one would have to work and everyone would live a life of luxury.
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Jan 15, 2018 05:38
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your solution won't work to solve poverty because poor people have too small brains to understand the benefits of exponential growth only a tiny few will be enlightened enough to grasp the fruit
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Jan 15, 2018 06:20
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Comfy Fleece Sweater posted:Coinbase is not your only option if you want to legitimately buy Bitcoin, Ethereum or Litecoin, at the moment it is the most well known due to their marketing efforts, however that does not mean that other options are not available. whoa what just happen
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Jan 15, 2018 06:38
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jonathan posted:Yeah he was part of efnet #quake in the mid 90's and we all played quake. Yes, good times.
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Jan 15, 2018 06:38
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Seymour Butts posted:So, my friend is claiming that he will be a millionaire in no time by buying and selling thousands of dollars of poo poo coins. He claims that all you have to do is watch the graph in real time. You wait for a decline and then at the beginning of an uptick, you buy it, and sell at the next downtick. In my opinion, this is just another get rich quick scheme that allows him to smoke copious amounts of weed in his mother's house. Lots of day traders in all fields get caught by how well they seem to be able to predict the market and gradually make gains. Problem is that it only takes a handful of times when it goes in the opposite direction to what you expect and suddenly you are in the red. Senor Tron fucked around with this message at 07:03 on Jan 15, 2018 |
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Jan 15, 2018 06:42
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Ccs posted:But if they're making capital gains from bitcoin or stocks wouldn't that still be taxed at the normal US rate since the money is made on the US stock market? but honestly i think the only way to get the right answer on this is to consult a tax professional who handles PR taxes, which i definitely am not
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Jan 15, 2018 06:47
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Senor Tron posted:Lots of day traders in all fields get caught by how well they seem to be able to predict the market and gradually make gains. Problem is that it only takes a handful of times when it goes in the opposite direction to what you expect and suddenly you are in the red.
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Jan 15, 2018 07:04
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Sentient Data posted:Finally a new industry to embrace bitcoin: collections That wouldn't work would it? You don't own a particular bitcoin, rather it is the number you own that is recorded.
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Jan 15, 2018 07:05
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Comfy Fleece Sweater posted:Coinbase is not your only option if you want to legitimately buy Bitcoin, Ethereum or Litecoin, at the moment it is the most well known due to their marketing efforts, however that does not mean that other options are not available.
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Jan 15, 2018 10:23
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quote:BEWARE LARGE CRYPTO SELLERS: Coinbase (GDAX) is holding $1.14 million of my money hostage, and now I'm going to get tax penalties because of it. https://www.reddit.com/r/CryptoCurrency/comments/7qgx5o/beware_large_crypto_sellers_coinbase_gdax_is/ lmao
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Jan 15, 2018 11:10
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That guy is an idiot. The weekly withdrawal limit is 100K, for one. And the penalty is 3-4% per year. If he owes $400K taxes, the penalty would be around $12K/year. Compounded daily, that is $35/day. He also has the money to afford a tax lawyer. He could also contact the IRS to work things out with them He could wire the money out to a bank account, no withdrawal limit on that He could GDAX the cash back into Bitcoin, send it to another exchange and withdraw it. Like I don't get how you could receive a $1.12 million windfall and be this clueless about handling basic things in life.
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Jan 15, 2018 11:28
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Seymour Butts posted:So, my friend is claiming that he will be a millionaire in no time by buying and selling thousands of dollars of poo poo coins. He claims that all you have to do is watch the graph in real time. You wait for a decline and then at the beginning of an uptick, you buy it, and sell at the next downtick. In my opinion, this is just another get rich quick scheme that allows him to smoke copious amounts of weed in his mother's house. Remind him that any time a major move in currency price happens, the exchanges stop trading to prevent people doing just that.
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Jan 15, 2018 11:32
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Mr.PayDay posted:LOL what, Athene was talking about Bitcoin 4 years ago https://youtu.be/iU8ie9QEzQk just lol if anybody read this mountain of words
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Jan 15, 2018 11:44
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Actually I'd remind him they charge a 0.30% Taker fee. So if you called Bitcoin zero sum, that 0.3% means the odds are always stacked against you. And that if you are right on your predictions 80% of the time, the 20% you are wrong can still lead you into the red Also the exchanges aren't regulated and are filled with bots that manipulate the order books in many fun and interesting ways. And what he wants to do has existed for many years, it is kind of why daytrading Forex on margin was the big joke before Bitcoin came along.
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Jan 15, 2018 11:52
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pepito sanchez fucked around with this message at 12:17 on Jan 15, 2018 |
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Jan 15, 2018 12:06
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Liquid Communism posted:Remind him that any time a major move in currency price happens, the exchanges stop trading to prevent people doing just that. Starting............... now
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Jan 15, 2018 12:39
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Alpha Mayo posted:Like I don't get how you could receive a $1.12 million windfall and be this clueless about handling basic things in life. It happens all the time to lottery winners
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Jan 15, 2018 13:54
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