Monday, 28 November 2022

First bitcoin apartments, "The Bitcoin Building" incorporates repurposing heat from solar-powered Bitcoin miners into mechanics of the building

First bitcoin apartments, "The Bitcoin Building" incorporates repurposing heat from solar-powered Bitcoin miners into mechanics of the building submitted by /u/KAX1107
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Just finished reading The 7th Property by Eric Yakes. He covers some parts of central banking history that Saifedean does not in the Bitcoin Standard among other things. Highly recommend it

Just finished reading The 7th Property by Eric Yakes. He covers some parts of central banking history that Saifedean does not in the Bitcoin Standard among other things. Highly recommend it submitted by /u/ElderBlade
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An algorithm for trading BTC

An algorithm for trading BTC

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.

BTC vs 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/

submitted by /u/sudeepraja
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source https://www.reddit.com/r/btc/comments/z6hv8y/an_algorithm_for_trading_btc/

What do you think about the Ledger Card ?

What do you think about the Ledger Card ?

I was wondering 🤔 if it's not a possibility for Ledger to know how much crypto you have in your wallet ?

submitted by /u/SignInternational623
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This is completely insane. I don't think people realise how incredible this is. Bitcoins works.

This is completely insane. I don't think people realise how incredible this is. Bitcoins works. submitted by /u/Leading-Fail-7263
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Cyber Monday

Are you getting anything using BTC?

I got some software.

submitted by /u/anon221911
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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:

https://www.coindesk.com/business/2021/11/06/house-sends-infrastructure-bill-with-crypto-tax-provision-to-us-president/

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.

submitted by /u/pcvcolin
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