and replay protection. Any idea when they'll resume ?
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2ia0m/ledger_has_stopped_syncing_bch_cause_of_the_hard/
Saturday, 28 November 2020
Ledger has stopped syncing BCH cause of the hard fork
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2ia0m/ledger_has_stopped_syncing_bch_cause_of_the_hard/
Accidentally sent BCH to a BTC wallet
I just received some Coinkite hardware wallets and in my rush to test it out I had a brain fart and sent some BCH to the BTC wallet. Is my BCH gone for good?
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2ihzt/accidentally_sent_bch_to_a_btc_wallet/
PayPal next moves will show it's brilliance
tl;dr PayPal's closed ecosystem for Bitcoin will finally make using Bitcoin for purchases a reality by allowing Bitcoin to be used on millions of merchants' sites and simplify tax reporting by PayPal issuing 1099-B forms for those purchases.
I used to buy stuff with Bitcoin but it was such a pain in the ass to report every purchase on my taxes. There are a bunch of people that are anti-IRS in the Bitcoin community and don't feel like people are obligated to report to the IRS their purchases using Bitcoin. I don't want to debate that. Let's assume every purchase that a person makes with Bitcoin needs to be reported on form 8949. When a person buys on exchanges like coinbase, binance, etc, those exchanges are an open eco-system. Once a bitcoin leaves those exchanges, those exchanges don't know what happens to those bitcoins(for the most part). So, those exchanges can't automate your tax filings.
PayPal has setup a closed eco-system where they know a person's purchase history of bitcoin, their sales history of bitcoin and the history of when they bought something using bitcoin(via PayPal). So, PayPal has all the necessary information to generate a 1099-B for that person. A 1099-B completely simplifies tax filing for purchases made with Bitcoin.
To give you a concrete example. Let make the following assumptions:
I bought 1 bitcoin on August 1st 2020 for $10,000
On Sept 1st, 2020, I bought a TV for $2000 using Bitcoin and the price of one Bitcoin was $20,000.
So, let's work through what happens if I used Coinbase to originally buy that 1 bitcoin. So I bought that Bitcoin and then I moved it to my hardware wallet. I had to pay some amount of bitcoin in transaction fees to move that bitcoin. To make things "simple", let's assume the network transaction fee was .01 btc. So that improves my cost basis but overall it cost me money but my new cost basis is .99 bitcoin for a $10,000(this makes the effective cost basis of 1 btc to be $10,101.01). Then I purchase the tv from my hardware wallet. There would be another network transaction cost but let's assume it was free. Coinbase has no idea what I did with that bitcoin that I bought from them. So, it's now my obligation to report my capital gain to the IRS since the price had gone up since I bought that bitcoin. So, my capital gain would be: I used .1 bitcoin to buy a $2000 TV. My cost basis of that .1 btc was $1010.01. So I had a capital gain fo $989.99 that I need to pay short term capital gain taxes on that.
Now I imagine that I buy a $4 cup of coffee every day. I have to do this calculation for every cup of coffee that I had. Complete and utter insanity to manually calculate the capital gain of every purchase a person makes. I decided it wasn't worth it so I stopped buying things with bitcoin.
Let's work through the example of the closed eco-system of PayPal. Since PayPal doesn't allow me to move bitcoin in or out, they know exactly my cost basis of all of the btc that I have in my PayPal bitcoin wallet. Now I used a merchant that accepts PayPal(which is a lot of them) and I used the bitcoin that I bought via PayPal. PayPal knows exactly what my capital gain/loss is on that purchase. At the end of the year, they generate a 1099-B. All tax software can easily import a 1099-B. There is no manual calculation that I need to do. I don't need to keep track of any cost basis. PayPal has literally solved what I believe is the number one issue of using bitcoin for day to day purchases. There are only three companies in the U.S. that could pull this off. They are PayPal, Visa and MasterCard. A company needs to be already integrated into merchants.
Also, when I make a purchase using my PayPal bitcoin wallet to a PayPal merchant, PayPal doesn't need to register that transaction on bitcoin's blockchain. So, there will be no network fee for that. Yes, this is centralization. Yes, this goes against a root philosophy of decentralization.
I understand a lot of Bitcoin purists dislike these choices of PayPal. I think it's brilliant as a business strategy for PayPal. I personally will take the tradeoffs if PayPal makes it simply for me to make purchases with bitcoin. I think it's great for bitcoin if this improves adoption rate, increases the number of merchants accepting bitcoin and brings bitcoin mainstream.
References:
https://fortune.com/2020/11/02/paypal-cryptocurrency-bitcoin-venmo/
"According to Schulman, starting in the first half of next year PayPal will let users draw from cryptocurrency accounts to pay for goods and services at 28 million merchants that use the company's platform."
[link] [comments]
Within 5 yrs it will be illegal for an American citizen to transact in Bitcoin outside of a federally registered exchange and without a federally registered account.
voluntarism.dev states that they will protect BCH from future value-destroying splits.
https://twitter.com/DevVoluntarism/status/1332514914062061568
"the amount of value that abc stole from bch pales in comparison to our expenditures. we are a group of old-guard miners and whales. we can do this for years. next time you fork: use your own genesis block, your own pow algo, and build your own community. bch is protected."
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2gexx/voluntarismdev_states_that_they_will_protect_bch/
Donations requested for marketing initiatives in Singapore to raise awareness and gain adoption in BCH
Donations needed : 50 BCH Will post screenshot daily until targeted funds met
Wallet address: qqad5y88ya7cev64q7k53jyr5ehvx5jdr5gx20ryrn
Operations 3 men team (1 chinese, 1 Malay and 1 Indian)
COVID situation in Singapore, no mass gatherings (less than 6 ppl allowed) but able to travel around with mask on, our strategy of outreach will be different, as in Singapore most of us lived in block flats/unit numbers, we will bring ourselves to them, we will do door to door visiting, bringing along our laptop and promotional materials, explaining and showing them the benefits of Bitcoin cash
Almost 97% population in Singapore using smartphones and the elderlies (55-75) age group are one of the most IT tech savvy ranked top amount the world
Background We come from diverse backgrounds, financial, advertising and computer engineering fields, thus able to tap on this and deliver this project fruitfully, Face to face marketing and engaging/building rapport is our forte and we do it in a high conversion rate
Scope of work included:
1) door to door visiting marketing covered 40 blocks of residential flats (1 flats normally 12-16 storeys with 6-10 units)
2) print 10,000 flyers and distributed to the mailbox’s of unit as well, flyers will consists of English/Chinese/Malay/Tamil languages translations
3)prepare 10,000 small door gift to be given to the prospects to entice them
The goal is to try and get them to purchase and hold at least one BCH.
We will take event photos and videos to showcase our work done and pictures with prospects/users
This is a tedious hard work task and we each will only get a little compensation for our efforts minus off all those promotional materials/door gifts, expenses travelling around.
Please support us and we will deliver a successful marketing campaign, and we do not ask for huge sum of marketing fees for our part.
We do have the next campaign in mind and after residential campaign we will proceed to target companies for utilising BCH in their payments
Thank you
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2gp7j/donations_requested_for_marketing_initiatives_in/
Tipping point --> BCH
From my own research I've come to the conclusion that BCH is the best path forward to realize this decentralized crypto dream. However, what I am not clear on is why we are now seeing the next step of institutional movement aligning with Bitcoin?
Financial institutions are greedy. They aren't dumb. Clearly, they know that BTC has tons of limitations. So why hoard? What am I missing? Are we just seeing the accumulation of greed on a scarce product for pure profit?
In my own head, I'm trying to work out my own plan to cash out of BTC and just go all in with BCH. What's the tipping point? Thoughts?
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2goxe/tipping_point_bch/
Come join the fun
I had a bunch of SAI coins I found in an old wallet and didn’t know what to do with them so decided to shoot my shot at this Pool raffle. The prizes seem pretty legit from what I’m seeing and just like any other raffle or lottery you can win some pools over $10,000 on just a buck. Use this link and we’re both supposed to get 100 tickets.
https://app.pooltogether.com/?referrer=0x220e5fbf21fd4c375fb9adc9bb7a53c7958fabc9
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2g5lo/come_join_the_fun/
Japanese financial services company group is coming up with a bitcoin lending service.
Japanese financial giant SBI Group has come up with a crypto lending service named VC Trade Lending where user can lend their cryptocurrency to SBI and earn an interest rate of 1% including taxes. Initially, the group has decided to provide only Bitcoin lending service but in the future, they plan to extend these services for lending Ether and Ripple. The minimum lending amount for this service is 0.1 BTC.
[link] [comments]
Double Spend Proof (DSProof) API
https://dsproof.devops.cash is now online and querying the Bitcoin Unlimited getmempoolentry RPC to retrieve Double Spend Proof (DSProof) data.
Looking for feedback from u/BitsenBytes and/or u/ThomasZander on how to test this API as well as any improvements that can/should be made.
Try it yourself:
- Grab a recent transaction id from the mempool.
- Then call the API [ https://dsproof.devops.cash/<txid> ]
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2eo6g/double_spend_proof_dsproof_api/
The best case scenario for any Bitcoin holder is if we get a dollar/satoshi parity - for each $1 USD you get 1 $atoshi. If that happens, an average BTCer will be paying around 25,000 USD per transaction, a BCHer be paying less than 72 USD per transaction. This is how broken BTC is compared to BCH.
Of course we’re comparing apples to apples here: On-chain tx compared to on-chain tx, any non on-chain transaction is inferior and is not part of this comparison by definition.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2eejs/the_best_case_scenario_for_any_bitcoin_holder_is/
The very first person to receive Bitcoin from Satoshi himself is ...
Hal Finney!
He is a cryptographer, computer scientist, and contributor to bitcoin received 10 bitcoins from Nakamoto himself – to test the software.
https://www.cryptovantage.com/news/crypto-characters-hal-finney-was-the-original-cypherpunk/
[link] [comments]
The ABC chain will most likely be split separate times until Coinex suspends withdrawals and deposits and eventually delists.
ABC has rolling 10 block checkpoints which protect exchanges against longer then 10 block reorg. This means an exchange can require 11 confirmations on deposit and be guaranteed not to lose any coins during reorgs. But right now the ABC attacker is not trying to steal coins from coinex by sending it abc buying other coins with them, withdrawing those and then reorg the chain so the attacker gets the abc back.
So how can the attacker annoy coinex?
Simple, start mining towards 10 blocks but don't broadcast any of them. Difficulty will drop some. Wait till the viabtc pool has mined 9 block in a row. Now the very moment the 10th block is broadcasted, broadcast the 10 premined blocks. There is a chance some nodes will follow one chain and some another. The rolling checkpoints now finalize both chains. Coinex would have to spend time in making sure its abc node does not sync to the attackers chain or otherwise the viabtc miners would have mined coins that coinex sees as invalid. Even if a mechanism is found to sync the pool and the exchange nodes, the other abc nodes could get stuck on the attacker chain. Now this can be done multiple times untill electron cash users have only a 25% chance of connecting to a node still on same chain as coinex.
If the attacker automates this process it will require daily manual intervention by everybody running a abc node. Coinex might not be willing to deal with the hassle and would be better of with replacing abc with a abc slp token that runs on bch. Coinex could airdrop this token at 1 abc per 1 bch. And then every ten minutes coinex could mint 6.25 tokens and send 8% of the tokens to abc.
Then abc can not be attacked anymore and the system would as centralised as it is now with the attacker in charge. Abc could still work on something and be paid. It would be as if abc gets assimilated in to the bch simulation and amaury can continue living in ignorance is bliss mode. Coinex can make money with the trading. Win win.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2dmv1/the_abc_chain_will_most_likely_be_split_separate/
I did it. I emptied my Coinbase account.
Yeah, the title was a little bait and switch, but I did empty my coinbase account. I finally pulled the trigger and took control of my own keys.
I have always been hesitant to maintain full custody of my bitcoin since I wasn't 100% sure I could reliably and responsibly control it. My personal coinbase holdings were from my early days and it has been a relatively small amount. Plus I've just been lazy.
However, with everything going on with Coinbase, and rumors that they will be introducing new policies with the US government regarding self-custody, I am pretty worried they will sanction BTC for all US citizens. Yes, I know it's an extreme case, but as soon as things get real and the current elite realize they have holes in their moneybags (inflation, quantitative easing, stimulus, money printing, bailouts, etc...), they will probably take extreme measures to make sure they retain power.
p.s.
If anyone has or knows someone with mass amounts of venture capital, and wants to bring a better mousetrap to the market, I have a working concept for a hardware wallet that is better than any of the current offerings. I have the manufacturing set up. Just need the money to place the order. I also have experience in manufacturing crypto hardware and software, created the first plug-and-play bitcoin miner, and founded Hands Free Bitcoin. And before anyone starts trolling, yes, my business accounts have always had excessive custodial measures taken to ensure security. My personal coinbase holdings were from my early days and I just haven't taken time to pay much attention to them until now.
[link] [comments]
Protocol Embedded Staking – A new way of stabilizing crypto tokens
With Proof of Stake (PoS) you have to lock a certain amount of tokens in order to guarantee for the validity of transactions and to support the network. At the end of locking periods users feel an incentive to claim the rewards earned. This leads to a higher probability of tokens being sold on the market, which in turns can lead to some selling pressure and dropping market prices.
Protocol embedded staking was invented in reaction to this disadvantage. It is anchored in the base code of the currency’s smart contract and does not require any explicit control or triggering by the user. Since Protocol Embedded Staking allows complete availability of token usage in DeFi products while earning staking rewards at the same time.
Check out the medium article I found on this topic:
Quite innovative approach I think. Anybody read about this somewhere else?
[link] [comments]
source https://www.reddit.com/r/btc/comments/k2csus/protocol_embedded_staking_a_new_way_of/
Friday, 27 November 2020
I found a good alternative to Coinbase Pro for US based hodlers
If you're in the US and have been looking for an alternative to Coinbase Pro with comparable fees try Gemini Active Trader. It isn't available through their app, you have to use their browser interface. It is very mobile friendly. Hopefully this is helpful for someone!
Edit: you have to deposit from your bank and place a limit buy order to get the lower fee, similar to what you do with CBP
[link] [comments]
It’s an old saying but...
If you can’t handle btc’s 20% swings; you don’t deserve its 1000% gains. Weak hands are for altcoins and day trading. Hodlers hodl. And thus reap the rewards.
2017 was about lambos.
2021 will be about countries.
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A past few hour someone ask what is Bitcoin Cash? Now i need your help because I want to know what is the exact meaning of fork and blocks that I always see in any articles and news in Bitcoin Cash Sites. I want to learn more. Thankyou
“Tether share of BTC volume stays at 60-70%, never fluctuating- looks 0% organic. If there is actually more "demand" for Bitcoin shouldn't we see like a single day where the USD order books outweigh the stablecoin shit?”
Lot of us bought at 1k in 2014 and 20k in 2017
And we saw it correct 80%. It felt like chewing glass while being constantly punched in the face.
So guys who just got in, don't bitch about a little correction. You bought Bitcoin, not a bank fixed deposit.
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I sold some but don’t hate me
Yesterday (Australia) I sold my first amount of crypto ever. 0.07 BTC at 18.9k USD. I am buying a new carbon road bike to help me get back into shape after a bit of an alcoholic bender these past few months. Today is day 1 of my sobriety.
Looking at the prices I am so happy with when I finally made this decision, I’ve been holding for years.
Next big dip, I’ve saved 5k AUD just for BTC.
Just felt like sharing because this feels like a win.
I will continue to hodl.
Love you fuckers
[link] [comments]
Thursday, 26 November 2020
For those asking for a BTC DIP!
Now is your chance guys. Don't let it pass! Black Friday sale underway!
[link] [comments]
What is the best BCH accepting competitor to Bitrefill?
We should get behind them and send some business their way for accepting Bitcoin Cash.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k181s9/what_is_the_best_bch_accepting_competitor_to/
Playing a poker free roll turney with my homies Come join us.
Showing my poker buddies the power of using BCH for poker on www.blockchain.poker. Come join us tonight at 9pm sharp.
https://blockchain.poker?tournament=17240a42&a=5c559cec7974b57190798c26c968eda1
Password = winbig
We'll see you at the tables and good luck!
[link] [comments]
source https://www.reddit.com/r/btc/comments/k16ole/playing_a_poker_free_roll_turney_with_my_homies/
Remembering the strange history of Bitcoin and Bitcoin Cash
Courtesy of lying buttcoiner /u/Magick93 that hangs out on /cryptocurrency pretending reality doesn't exist, I figured it was a good time to re-share a couple links detailing the history of /bitcoin, the hostile takeover of BTC, and the origins of Bitcoin Cash. If you're new I highly suggest you check it out and draw your own conclusions, though it shouldn't take long to see the low down dirty BS that happened a few years ago that caused the great divide.
The famous whitepaper that started it all - Bitcoin: A Peer to Peer Electronic Cash System
Singularity87's account of the strangeness that is /bitcoin and Core developers takeover
Independent developer Johnathan Toomim details how Bitcoin Cash came to be
Who controls the future controls the past, who controls the past controls the future. Don't let these people re-write history.
BTC was done dirty by well funded special interests beginning around 2014. Bitcoin Core developers crippled BTC and went on to form their own private entities like Blockstream, Chaincode Labs, Lightning Labs, Brink and other miscreant think tanks like Bitcoin Optech and MIT, to profit on solutions they sell to the problem they created themselves that left BTC hamstrung by low performance and high fees that have relegated it to an inert purely speculative mass that just lives on centralized exchanges now, far from the original premise and architecture that only BCH carries on today as the last gasp of Satoshi's Original Recipe Bitcoin.
If you're an old timer like me that has some other interesting tidbits from the past to share, please do
[link] [comments]
source https://www.reddit.com/r/btc/comments/k15frl/remembering_the_strange_history_of_bitcoin_and/
Uphold re-enables BCH using BCHN
From an email to customers:
As the Bitcoin Cash fork has now passed, we have re-enabled BCH deposits, withdrawals and trading.
Following market convention, Uphold will be recognising the Bitcoin Cash Node (BCHN) side of the fork as BCH.
Thanks for your patience. If you have any questions, please contact our support team who’ll be happy to help.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k14v10/uphold_reenables_bch_using_bchn/
My brother asked if he should buy Bitcoin
Since 2011-12 when I first became involved with Bitcoin I’ve been talking it up to him but he refused to listen, now 8 years later he’s finally considering it and asked if he should buy. My response was “yes dummy, you should’ve bought back then but you should definitely buy now!”
[link] [comments]
Wednesday, 25 November 2020
People talking about BTC outside of crypto socials
Does anyone else feel like they're getting a brain aneurysm when they come across a non crypto social media page or post that talks about bitcoin? I just ran across a comment thread on a finance youtube channel I follow where he had a poll asking about bitcoin as an investment and the general lack of knowledge and ignorance about what Bitcoin is and its value proposition almost gave me cancer. One person compared it to tulips. Another said its backed by nothing. A third said its a bubble waiting to burst. A fourth says its just 1's and 0's. Am I in the twilight zone? The one positive thing about this is it tells me that we are STILL early.
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Electron Cash server software recommendation
Hi guys, I want to run an Electron Cash server, with BCH Node as its backend. What are some suggestions?
[link] [comments]
source https://www.reddit.com/r/btc/comments/k0njyr/electron_cash_server_software_recommendation/
Was working on that little baby day and night for the last 2 weeks. Happy I made it before the new ATH
https://coindodo.io Check price, reddit, twitter, rss feeds, github activity, youtube/odysee videos, google search trend and more in one place :)
What do you think?
[link] [comments]
Will Bitcoin Cash raplace Bitcoin?
In my opinion, no way, it’s not even remotely possible that Bitcoincash will replace Bitcoin, but I am open to suggestions.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k0kxw1/will_bitcoin_cash_raplace_bitcoin/
I´m curious to know what are the opinions of the China crypto community on Bitcoin Cash vs Bitcoin (Lightning Network/Blockstream Liquid).
Will appreciate some comments, thank you.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k0kxyl/im_curious_to_know_what_are_the_opinions_of_the/
Reminder to be nice to the new wave of newbies
With the current price closing in on the ATH. I would expect a new wave of people coming in to this subreddit.
Lots of 'dumb' questions will be asked. Lots of people will come here for FOMO. Some questions are real, while others are just trolls. There will be confusion between BTC and BCH for the new guys given the names of it's websites and subreddits etc.
Let's remember to be nice and steer these guys in the right direction and welcome these new wave of people.
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Is the ABC mega dump happening tomorrow going to pump BCH?
I imagine they would redirect those translated funds to the real BCH.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k0hnyo/is_the_abc_mega_dump_happening_tomorrow_going_to/
Just wanted to say thank you to the anonymous ABC miner!
Before the scheduled dump I'd like to say thank you. Some people on this subreddit are against your actions but I think it's great.
You're spending however much to do a little damage to a chain you don't believe in, and most likely not just because it's not one you don't believe in (I'm sure you're not out there sabotaging ETC or something) but because ABC was an attack on Bitcoin Cash.
If Amaury has the freedom to fork Bitcoin Cash, then this miner also has the freedom to do whatever he wants to on ABC. Especially as Amaury didn't say "I'm going to try an IFP chain called ABC, it'll be a great experiment, join me", he said "give me 8% of BCH, no debate.
For those saying that ABC should be allowed to run as an experiment, that's fine. But it's one hell of a boring experiment. 8% going straight to Amaury and that't it - end of experiment. How much can one man/team do with 8%.... We could have tried a flipstarter or voting system or ANYTHING else, it would have been a better experiment.
EDIT: I'm grateful that the miner is spending their time, money and effort on defending the BCH chain and standing up for what they believe in.
[link] [comments]
source https://www.reddit.com/r/btc/comments/k0gzyn/just_wanted_to_say_thank_you_to_the_anonymous_abc/
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