submitted by /u/btcxio
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source https://www.reddit.com/r/btc/comments/zb2778/tim_draper_on_twitter_another_country_making/
Saturday, 3 December 2022
SBF admits that they sold paper crypto that did not exist on any blockchain to customers. Other exchanges are doing the same thing. Until you click withdraw to your own wallet you should assume your balance on exchanges is not real and is just a number on an excel spreadsheet as was the case on FTX.
https://nitter.net/RobboStreak/status/1598456629116243971#m
In a recent talk on twitter space, Ran Neuner from CryptoBanter asked SBF:
Ran: The reason why there were no BTC left on exchange was because no BTC existed on exchange. You were just letting us buy notional tokens that really didn't exist. Because, if not, you should at least have USDC somewhere if not BTC (if SBF sold BTC for USDC).
SBF replied: Yeah right. I believe that what you are saying is in-fact part of what happened.
Not your keys, Not your coins!
Also this is why some cryptos are suppressed. They sell more fake crypto than the market can handle. They cant be caught or punished while people keep their supposed balances on exchanges.
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source https://www.reddit.com/r/btc/comments/zavdry/sbf_admits_that_they_sold_paper_crypto_that_did/
I need Bitcoin educated lawyer to help me with my BlockFi Claim, any recommendations?
I had a life changing amount of BTC in BlockFi as collateral for a loan. I need to file a claim, but I really want to have an attorney help so that I get everything done right and don't screw up my situation any worse.
Anyone have suggestions for reputable crypto attorneys?
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Login to Cashrain not working. I tap the qr code to open my bitcoin.com wallet. I get a green check mark that remains on the screen unless I press dismiss and then nothing happens. what's the trick here? I wanna make some rain!
Friday, 2 December 2022
Join this #Smartbch Twitter Hangout on early December. Jett Seitche @aww_tism Will talk about His project Anacrypt and about his personal experience Using Non-KYCed #BitcoinCash Set Reminder ⏰👇🏻
Just used Bitrefill with Lightning - WOW.
End to end initial process:
- Buy bitcoin on exchange (ideally P2P like Bisq, record the purchase price in fiat).
- Send bitcoin to cold storage.
- Send small amount from cold storage to Muun (or other lightning enabled wallet).
- Buy gift cards on Bitrefill and pay with lightning.
- Keep track of value purchased.
- Calculate and pay capital gains tax (or harvest losses, if any).
- Use gift cards.
- Give middle fingers to legacy banking system.
Repeat process:
Steps 4 through 8. Mostly 8.
I will be doing this for all purchases from now on. Huge list of vendors. AMAZINGLY EASY, CHEAP, AND FAST.
And no, I don't work for any of the companies listed above.
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Will Bitcoin Cash lead to centralization?
Been reading up on the block size debates. Overall I agree that larger blocks will lead to centralization. What are the counter arguments to this?
If a blockchain isn't decentralized it is worthless in my opinion.
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source https://www.reddit.com/r/btc/comments/z9wb55/will_bitcoin_cash_lead_to_centralization/
Thursday, 1 December 2022
Announcing Bitcoin Cash Node v25.0.0
Release announcement: Bitcoin Cash Node v25.0.0
The Bitcoin Cash Node (BCHN) project is pleased to announce its major release version 25.0.0.
This release implements the May 15, 2023 network upgrade.
It delivers four Cash Improvement Proposals that are consensus changes:
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CHIP-2021-01 Restrict Transaction Version (v1.0)
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CHIP-2021-01 Minimum Transaction Size (v0.4)
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CHIP-2022-02 CashTokens (v2.2.1)
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CHIP-2022-05 P2SH32 (v1.5.1)
and a number of other enhancements, bugfixes and performance improvements.
BCHN users should consider an update prior to May 15, 2023 as mandatory. The v24.x.0 software will expire on May 15, 2023, and will start to warn of the need to update ahead of time, from April 15, 2023 onward.
For the full release notes, please visit:
https://github.com/bitcoin-cash-node/bitcoin-cash-node/releases/tag/v25.0.0
Executables and source code for supported platforms are available at the above link, or via the download page on our project website at
For more information about the May 15, 2023 network upgrade, visit
https://upgradespecs.bitcoincashnode.org/2023-05-15-upgrade/
We hope you enjoy our latest release and invite you to join us to improve Bitcoin Cash.
Sincerely,
The Bitcoin Cash Node team.
[link] [comments]
source https://www.reddit.com/r/btc/comments/z95cv4/announcing_bitcoin_cash_node_v2500/
Wednesday, 30 November 2022
I've heard of "toxic Bitcoin Maximalists", and would just like an explanation of what that is and what constitutes it.
People have complained using those words to describe others, and have complained that it's a weakness of Bitcoin, etc. But I don't even know:
- What constitutes a "Maximalist"? Is that someone who puts ALL of their disposable assets into Bitcoin? What about if I own some precious metals, and some real estate, maybe a few stocks...and a lot of Bitcoin, would I be a "maximalist" then, or just a "partial maxi" or something else. How does it work.
And
- What is so "toxic" about them? I'm asking this to those of you who complain about "toxic maximalists". Something really bothers you guys about them, to cause you to call them "toxic". So, do they poison the discussion? Do they have a "you're with me or against me" attitude, is that what's so toxic? Do they consider anyone who isn't also a "maximalist" to be an enemy of Bitcoin? What's so toxic and why do you label them in that way?
Thank you for clarifying. I won't argue with anyone, but I may ask for additional clarification. Otherwise I will accept your answer as is. Thanks all.
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Tuesday, 29 November 2022
30yo Whalefin exchange CEO dies “unexpectedly”
Whalefin/Amber Group were actively involved with FTX. They are denying they’re in trouble, but it’s yet another lesson to not leave your crypto on exchanges.
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Monday, 28 November 2022
An algorithm for trading BTC
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Hi r/btc I wrote a blog on online trading algorithms that I am researching. Here is how it works on balancing BTC with cash. I included code in the blog, that can be copied and you can run your own experiments on it. Here is the blog: https://sudeepraja.github.io/OPS2/ [link] [comments] |
source https://www.reddit.com/r/btc/comments/z6hv8y/an_algorithm_for_trading_btc/
What do you think about the Ledger Card ?
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I was wondering 🤔 if it's not a possibility for Ledger to know how much crypto you have in your wallet ? [link] [comments] |
Cyber Monday
Are you getting anything using BTC?
I got some software.
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source https://www.reddit.com/r/btc/comments/z6cyvk/cyber_monday/
Section 9674 of the American Rescue Plan Act of 2021, which mandated new reporting requirements as of Jan. 2022, and other onerous and unrealistic requirements, still need to be revoked: U.S. laws have been causing capital flight and are holding back bitcoin innovators
This is just one example, below, of horrible monetary policy and law under this administration, which needs to be reversed (article quoted in part), from November of 2021:"The crypto industry (is) concerned about a tax reporting requirement within the bill that (expands) the definition of a broker for Internal Revenue Service purposes. The reporting requirement would see all brokers report transactions under the current tax code.
Industry proponents worried the definition would be too broad, capturing entities like miners and other parties that don’t actually facilitate transactions.
Another provision included in the bill to amend tax code section 6050I has also stoked fear in the crypto industry. The law, written nearly 40 years ago to apply to in-person cash transactions over $10,000, essentially requires recipients to verify the sender’s personal information and record his or her Social Security number, the nature of the transaction and other information, and report the transaction to the government within 15 days."
This bill, written by absolute dinosaurs, had a chance to at least be modified in late November 2021 but because of idiots in Congress that didn't happen. With a new Congress we should again try to get these lousy requirements removed that nobody can logically comply with.
Original article here:
H.R. 3684 summary here: https://www.gibsondunn.com/infrastructure-bills-new-reporting-requirements-may-have-sweeping-implications-for-cryptocurrency-ecosystem/
American "Rescue Plan" Act of 2021 (H.R. 1319) summary including Section 9674 explainer: https://www.frazierdeeter.com/insights/network-payment-reporting-threshold-of-600-goes-into-effect/
Note: When Congress passed Section 9674 of the American Rescue Plan of 2021, it wrote a back door exemption for certain persons including individuals and corporations with a foreign address. Under 26 U.S. Code Sec. 6050W(d)(1)(A-B), you will see that persons with a foreign address are exempt from the 600 dollar threshold reporting requirement (and its seems they would not have to report at all at any level). With that said, this provision to require reporting at a transaction value of 600 or more never should have become law, and the anti-crypto provisions of H.R. 3684 and H.R. 1319 need to be reversed / revoked.
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Sunday, 27 November 2022
Where can I spend bitcoin in Japan?
Have a trip to Japan coming up and want to see what shops accept Bitcoin and/or other crypto in Japan
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Questions regarding Strike
Hey I generally hear great things about strike and I am very interested in it. I just have a few questions.
- Am I able to buy and transfer to my ledger?
- Can you transfer Bitcoin from Ledger to Strike to sell it and put it back in your bank?
- Does strike report to the IRS?
- Would this be a better option than Coinbase?
- Any other benefits of using strike?
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