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UP84
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July 22nd, 2023 at 11:48:58 AM permalink
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AxelWolf
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July 22nd, 2023 at 12:30:50 PM permalink
Quote: billryan

Quote: AxelWolf

Quote: billryan

Fed Now launched this week. It will take a few years to fully implement, but things will never be the same.
link to original post

Perhaps you can explain how/why FedNow is that much different than PP, Cashapp, Venmo, Zelle, or other payment services? The banks and government will still have "control" of your money. It's centralized where most crypto isn't.
link to original post



You just did.
link to original post

So things will be the same.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
lilredrooster
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July 22nd, 2023 at 1:54:00 PM permalink
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Satoshi Nakamoto is the person or persons credited with inventing Bitcoin

he or they began working on it in 2007 - released version 0.1 of the Bitcoin software in 2009 - and stopped being active in its development after December of 2010

nobody knows his real identity or even if it's a man or woman or more than one person

pretty fascinating stuff

this is Wiki's breakdown of this person or persons and speculation about what the real identity of this person or persons is:

.
https://en.wikipedia.org/wiki/Satoshi_Nakamoto#Possible_identities

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the foolish sayings of a rich man often pass for words of wisdom by the fools around him
AZDuffman
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July 22nd, 2023 at 2:58:35 PM permalink
Quote: EvenBob

Once quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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That is like saying money will be worthless because we can mint it faster than 100 years ago.
All animals are equal, but some are more equal than others
EvenBob
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July 22nd, 2023 at 3:42:34 PM permalink
Quote: AZDuffman

Quote: EvenBob

Once quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
link to original post



That is like saying money will be worthless because we can mint it faster than 100 years ago.
link to original post



It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
"It's not called gambling if the math is on your side."
AxelWolf
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July 23rd, 2023 at 2:45:56 AM permalink
Quote: EvenBob

Once quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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I don't think they make Bitcoin, they mine it. I have never heard of quantum computers being a problem for mining, it's probably a thing, I just haven't heard of it. I have seen many flashy headlines about how quantum computers were a security threat to crypto, and most of the articles I read say there are solutions to the potential problem. There's a lot of information addressing those concerns here...

https://cointelegraph.com/learn/cryptocurrency-vs-quantum-computing-a-deep-dive-into-the-future-of-cryptocurrencies

Cracking the encryption that safeguards Bitcoin would require inordinate amounts of quantum computing power to be deployed together and controlled by a single entity that orchestrates the attack.
According to researchers at the University of Sussex, a quantum computer with 1.9 billion qubits of processing power would be needed to break into the Bitcoin network within 10 minutes. This would require hackers to deploy millions of quantum computers, a scenario that is highly unlikely for the foreseeable future.

New cryptography concepts such as lattice-based cryptography, in which mathematical noise is added to the encryption to confuse a quantum computer, and quantum-resistant algorithms that rely on math problems are the way forward.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AZDuffman
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July 23rd, 2023 at 2:47:39 AM permalink
Quote: EvenBob

Quote: AZDuffman

Quote: EvenBob

Once quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
link to original post



That is like saying money will be worthless because we can mint it faster than 100 years ago.
link to original post



It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
link to original post



No, because Bitcoin is still limited to the same 21 million coins and the same reward rate. Faster computers just get the reward over slower ones. Your example is like saying gold will be worthless because brass was invented and looks like gold.
All animals are equal, but some are more equal than others
AxelWolf
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July 23rd, 2023 at 3:01:09 AM permalink
Quote: AZDuffman

Quote: EvenBob

Quote: AZDuffman

Quote: EvenBob

Once quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
link to original post



That is like saying money will be worthless because we can mint it faster than 100 years ago.
link to original post



It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
link to original post



No, because Bitcoin is still limited to the same 21 million coins and the same reward rate. Faster computers just get the reward over slower ones. Your example is like saying gold will be worthless because brass was invented and looks like gold.
link to original post

There was a time "long ago" when Bob was thinking about using BTC for his roulette playing on Bovada. I guess he found it too complicated to buy or somthing like that. I even offered to send him some to make it easy. Assuming an investment of 1k into BTC at that time while making his one unit per day, or whatever he claims, and rolling it back into BTC, I wonder how much that would be worth today. I'm thinking at least enough for 20 fancy cat condos.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
rxwine
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July 28th, 2023 at 8:58:59 AM permalink
Probably has nothing directly to do with Crypto. Maybe some sort of lesson for millionaire influencers with followers on social media.

Quote:

Dismembered body parts of a missing crypto millionaire have been found stuffed in a suitcase by a group of children playing near a stream in Buenos Aires, Argentina, according to police.

Fernando Pérez Algaba — a cryptocurrency influencer and entrepreneur who amassed a fortune by renting luxury vehicles and selling digital coins — first went missing on July 18, per The New York Post, citing police and local media.

The suitcase containing Algaba's remains was found Sunday, while on Wednesday, his head was discovered floating downstream in a rucksack, Metro reported, citing local media and authorities.

Authorities identified Algaba, 41, by his tattoos and fingerprints. An autopsy revealed he had been shot at least three times before the dismemberment took place,

There's no secret. Just know what you're talking about before you open your mouth.
AxelWolf
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July 28th, 2023 at 9:43:42 AM permalink
Quote: rxwine

Probably has nothing directly to do with Crypto. Maybe some sort of lesson for millionaire influencers with followers on social media.

Quote:

Dismembered body parts of a missing crypto millionaire have been found stuffed in a suitcase by a group of children playing near a stream in Buenos Aires, Argentina, according to police.

Fernando Pérez Algaba — a cryptocurrency influencer and entrepreneur who amassed a fortune by renting luxury vehicles and selling digital coins — first went missing on July 18, per The New York Post, citing police and local media.

The suitcase containing Algaba's remains was found Sunday, while on Wednesday, his head was discovered floating downstream in a rucksack, Metro reported, citing local media and authorities.

Authorities identified Algaba, 41, by his tattoos and fingerprints. An autopsy revealed he had been shot at least three times before the dismemberment took place,


link to original post

Social media or not, this guy was apparently in debt, had tax/ legal issues, and owed money to a number of people. He even knew people were out to get him.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
rxwine
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July 28th, 2023 at 10:21:07 AM permalink
All the more reason not to be on social media..
There's no secret. Just know what you're talking about before you open your mouth.
lilredrooster
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August 30th, 2023 at 2:28:17 AM permalink
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the price of bitcoin jumped as it looks like btc moved closer to being allowed to trade on the U.S. stock market as an ETF


from the article:


"The value of crypto assets surged Tuesday after a US court cleared a path for the nation’s first bitcoin exchange-traded fund.

The ruling is a breakthrough moment for crypto investors and a setback for the Securities and Exchange Commission, which has been trying to rein in the digital asset industry.

The three-judge panel for the DC Court of Appeals overruled an SEC decision denying Grayscale Invesments permission to launch a bitcoin-focused ETF. The panel said the regulator had failed to adequately explain why it rejected the firm’s application.

The ruling opens the door to an investment product that investors have been demanding for years.

"This is a historic milestone for American investors, the Bitcoin ecosystem, and all those who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper,” Grayscale CEO Michael Sonnenshein said in a statement. “It’s incredibly exciting that we are one step closer to making a US spot Bitcoin ETF a reality.”


https://www.cnn.com/2023/08/29/investing/bitcoin-etf-grayscale-crypto/index.html#:~:text=The%20value%20of%20crypto%20assets,in%20the%20digital%20asset%20industry.

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the foolish sayings of a rich man often pass for words of wisdom by the fools around him
Gialmere
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October 21st, 2023 at 12:30:12 AM permalink
There's some intriguing news involving bitcoin going around. It's a back burner story, drowned out by all the wars and political battles taking place. Yet it, at least potentially, is more impacting than all the current headlines combined.

A few weeks ago, people began to notice mysterious inscriptions being added to bitcoin blockchains. Users are allowed to add personal information to the cryptocurrency’s blockchain, typically the data is codes, dates, monetary amounts, files or even pictures of purchased items. The information added is permanent. Very permanent. It can never be altered or edited or removed, full stop. So, imagine the surprise of investigators as they found the mysterious data (released by a group codenamed “Project Spartacus”) was the information originally published by Julian Assange’s WikiLeaks back in 2010, now forever encased in blockchain acrylic.

The point here is not the classified WikiLeaks documents (which present a different version of the US war in Afghanistan than that told by the government or the press), but rather the delivery means. Project Spartacus has figured out a way to bypass all levels of censorship, all filters, all forms of moderation to present information directly to the people. There's nothing governments can do to stop it, nor can the militaries, law enforcement agencies, internet platforms or news organizations of the world. No one.

Obviously this is a two-edged sword. You might consider some data released in this manner to be a good thing that shines a light on issues the powers that be want people to ignore. On the other hand, some of the data you might consider to be dangerous or even deadly if it gets into the wrong hands. Also, there's no guarantee that such information is actually true.

Essentially we're looking at the ultimate unmoderated forum. And, in fact, people are already speculating that a second internet (beyond the reach of censorship) might arise using this tech. A place where anyone can say anything, make any claim, present any evidence that may or may not be true, and just let the users themselves decide if they should believe it or not. An awesome and disquieting prospect.

Story at Bitcoin Magazine
Have you tried 22 tonight? I said 22.
billryan
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October 21st, 2023 at 5:40:05 AM permalink
Sounds like this place. People can make the most ridiculous claims- winning a 50-50 bet 42 times in a row, being able to predict something at an 80% edge, winning every hand of a shoe, etc, etc.
The difference between fiction and reality is that fiction is supposed to make sense.
billryan
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October 21st, 2023 at 5:40:08 AM permalink
Sounds like this place. People can make the most ridiculous claims- winning a 50-50 bet 42 times in a row, being able to predict something at an 80% edge, winning every hand of a shoe, etc, etc.
The difference between fiction and reality is that fiction is supposed to make sense.
DRich
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October 21st, 2023 at 8:17:02 AM permalink
Quote: billryan

Sounds like this place. People can make the most ridiculous claims- winning a 50-50 bet 42 times in a row, being able to predict something at an 80% edge, winning every hand of a shoe, etc, etc.
link to original post



Hey now, some of us are just gifted.
At my age, a "Life In Prison" sentence is not much of a deterrent.
billryan
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October 21st, 2023 at 8:55:59 AM permalink
Quote: DRich

Quote: billryan

Sounds like this place. People can make the most ridiculous claims- winning a 50-50 bet 42 times in a row, being able to predict something at an 80% edge, winning every hand of a shoe, etc, etc.
link to original post



Hey now, some of us are just gifted.
link to original post



That's perfectly oblivious. When it comes to logic, we have several sovereign citizens.
The difference between fiction and reality is that fiction is supposed to make sense.
AxelWolf
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October 22nd, 2023 at 4:32:59 AM permalink
Quote: DRich

Quote: billryan

Sounds like this place. People can make the most ridiculous claims- winning a 50-50 bet 42 times in a row, being able to predict something at an 80% edge, winning every hand of a shoe, etc, etc.
link to original post



Hey now, some of us are just gifted.
link to original post

So gifted that they don't even know when someone has miss represented their own claims. An 80% hit rate doesn't equate to an 80% edge.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
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October 27th, 2023 at 2:48:17 AM permalink
I have not been on a computer for about two weeks give or take, until the other day for a few min to do a bank transfer. I used my phone here and there to google some stuff and post during some downtime.

I just finally got around to looking at BTC last time I looked it was around 26.5k it's $34,139.00 right now on CB.
I just sold about 5k worth of BTC. (Bill, I think you would have lost that bet had we made it)
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
lilredrooster
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November 17th, 2023 at 2:48:47 AM permalink
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Bitcoin and other crypto have been surging because of the potential for investors to buy crypto in exchange traded funds run by traditional brokers where some feel more comfortable

this is probably coming in the near future

BTC was around 27,000 in October - it's now at 36,235 - more than a 30% gain

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the foolish sayings of a rich man often pass for words of wisdom by the fools around him
OnceDear
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December 3rd, 2023 at 3:22:06 PM permalink
BTC just popped its head over $40,000.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AZDuffman
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December 3rd, 2023 at 3:38:19 PM permalink
Quote: OnceDear

BTC just popped its head over $40,000.
link to original post



YEAH, MR. WHITE! BITCOIN!
All animals are equal, but some are more equal than others
AxelWolf
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December 3rd, 2023 at 11:44:07 PM permalink
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
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December 4th, 2023 at 12:21:33 AM permalink
https://www.youtube.com/watch?v=HzxKs-Jd0H4
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
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December 4th, 2023 at 2:04:25 AM permalink
Quote: AxelWolf

https://www.youtube.com/watch?v=HzxKs-Jd0H4
link to original post



There are so many different ways of 'explaining' bitcoin. Some simplistic, some technical and some political. It's a bit like explaining the US Dollar. It can seem easy enough to point at a dollar bill and some loose change and demonstrate a secure transaction. But when you start to try to figure out how that is virtualised by banks, or how money is 'created', or how a bank can create loans to buy homes without ever having the money itself, it can get a bit mind-blowing. It's no wonder there is so little trust in Crypto when, for example, someone like Elon Musk can 'create' Dodgecoin worth billions and then go out and buy a space rocket with the funds he created. Also, crypto is SO unregulated that every snake oils salesman online wants to sell us a 'method' that will make us crypto gazillionaires.

Bitcoin and 'the blockchain' are elegant constructs, but it's disingenuous for that guy to try to say it's simple. Funny how he quotes about those real bank robberies as if no-one ever got robbed of crypto.

Like AxelWolf, I hold a small amount of BTC. It was a means to an end and that end was transactions. I had some as a speculative investment, too.
It's strengths are its weaknesses, a bit like gold. Anonymous and outside of regulation, it stands alone. But converting it to or from fiat currency opens one up to a potentially nightmarish prospect of having to calculate CGT on every transaction you ever did, because the tax authorities refuse to treat it as currency, but treat it as a capital asset, subject to CGT calculations at every transaction.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
OnceDear
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December 4th, 2023 at 2:52:11 AM permalink
Quote: OnceDear

BTC just popped its head over $40,000.
link to original post



And now... 42018USD +2029 +5.07%

These Beanie Babies are on a roll.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
odiousgambit
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December 4th, 2023 at 5:12:54 AM permalink
I think being able to speculate in Bitcoin has taken out some of the volatility of gold

I hold gold stocks but no bitcoin, and I actually like less volatility in gold ... does bitcoin repress the price of gold? that's hard to cheer, and may be true
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!”   She is, after all, stone deaf. ... Arnold Snyder
OnceDear
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December 4th, 2023 at 9:22:17 AM permalink
Quote: odiousgambit

I think being able to speculate in Bitcoin has taken out some of the volatility of gold

I hold gold stocks but no bitcoin, and I actually like less volatility in gold ... does bitcoin repress the price of gold? that's hard to cheer, and may be true
link to original post



I think they just share the characteristic of 'anything but the dollar.'

Both have climbed lately pretty much in sync
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
DRich
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December 5th, 2023 at 2:17:40 PM permalink
Bitcoin is at $44,180 right now. Up over 5% today.
At my age, a "Life In Prison" sentence is not much of a deterrent.
OnceDear
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December 5th, 2023 at 3:52:49 PM permalink
Quote: DRich

Bitcoin is at $44,180 right now. Up over 5% today.
link to original post



Damn.
Puts me in line to have to do some tricky CGT calcs
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AxelWolf
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December 8th, 2023 at 6:17:50 PM permalink
What's up with the fracking higher fees than normal? It's like $5 on a $100 send and $17 on a $500 send.

This happened before as well.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
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December 8th, 2023 at 6:58:44 PM permalink
I was wrong, I tried sending out $100 in BTC via CB and it was a $17 fee. WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
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December 9th, 2023 at 2:01:36 AM permalink
Quote: AxelWolf

I was wrong, I tried sending out $100 in BTC via CB and it was a $17 fee. WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
link to original post


Axel, that is because CoinBase charge what the hell they want to send BTC. You have no control of the fee that you are prepared to pay the miners. I believe CB also impose their own fee.

However, sending from an electrum wallet, or trezor, you can select the fee that you are prepared to pay, down to a few cents. But pay lower fee, accept longer transaction confirmation time, which can become infinite. A stuck transaction results and that can be a b***h to sort out..

AIUI, Coinbase don't charge a fee sending to other CB addresses. That's because the BTC never actually move within CB, and the just adjust their own records of ownership.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AZDuffman
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December 9th, 2023 at 2:29:21 AM permalink
Quote: AxelWolf

What's up with the fracking higher fees than normal? It's like $5 on a $100 send and $17 on a $500 send.

This happened before as well.
link to original post



Happens when we have price action. Like Vegas hotel rates going up when the rodeo is happening.
All animals are equal, but some are more equal than others
BTLWI
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December 9th, 2023 at 11:58:33 AM permalink
I borrowed 6 figures worth of USD this year to buy crypto. Hopefully in 2024 I can borrow 7.
OnceDear
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December 9th, 2023 at 2:53:29 PM permalink
Quote: BTLWI

I borrowed 6 figures worth of USD this year to buy crypto. Hopefully in 2024 I can borrow 7.
link to original post


If that's true and you actually did buy (at what price?), then that's quite a gamble. Good luck with that.....

..... And don't forget to report any transactions for Capital Gains Tax..

I just have a modest holding which I rode down from a high price to a much lower price and which i'm now, hopefully riding back up.
I've made far worse investments
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
AxelWolf
AxelWolf
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December 9th, 2023 at 5:44:00 PM permalink
Quote: OnceDear

Quote: AxelWolf

I was wrong, I tried sending out $100 in BTC via CB and it was a $17 fee. WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
link to original post


Axel, that is because CoinBase charge what the hell they want to send BTC. You have no control of the fee that you are prepared to pay the miners. I believe CB also impose their own fee.

However, sending from an electrum wallet, or trezor, you can select the fee that you are prepared to pay, down to a few cents. But pay lower fee, accept longer transaction confirmation time, which can become infinite. A stuck transaction results and that can be a b***h to sort out..

AIUI, Coinbase don't charge a fee sending to other CB addresses. That's because the BTC never actually move within CB, and the just adjust their own records of ownership.
link to original post

Have you tried sending using Trezor lately ? I don't know what the fees are there, I haven't cracked it out in a while, but with adjusted fees come longer confirmation times. With CB, it's quick easy, and convenient to use. Using a Trezor can be a slight pain in the ass. With CB I click a few buttons enter 2F and go. Since I'm making so many transactions frequently the convenience of just using Coinbase is significant.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
BTLWI
BTLWI
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December 11th, 2023 at 3:53:05 AM permalink
Quote: OnceDear

Quote: BTLWI

I borrowed 6 figures worth of USD this year to buy crypto. Hopefully in 2024 I can borrow 7.
link to original post


If that's true and you actually did buy (at what price?), then that's quite a gamble. Good luck with that.....

..... And don't forget to report any transactions for Capital Gains Tax..

I just have a modest holding which I rode down from a high price to a much lower price and which i'm now, hopefully riding back up.
I've made far worse investments
link to original post



I've bought all year. $16K, $24K, $44K.

Borrow USD, buy Bitcoin. There's no taxable event.
OnceDear
OnceDear
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December 11th, 2023 at 4:32:01 AM permalink
Quote: BTLWI

Quote: OnceDear

Quote: BTLWI

I borrowed 6 figures worth of USD this year to buy crypto. Hopefully in 2024 I can borrow 7.
link to original post


If that's true and you actually did buy (at what price?), then that's quite a gamble. Good luck with that.....

..... And don't forget to report any transactions for Capital Gains Tax..
link to original post



I've bought all year. $16K, $24K, $44K.

Borrow USD, buy Bitcoin. There's no taxable event.
link to original post



Buying BTC with USD won't be taxable, but if/when you subsequently sell them for more USD, that will be a CGT event.

i don't know how your IRS handles pooling or the matching of purchases to sales. Just retain good records.

And hope your investment rises. It would be potentially unsettling if the BTC lost value, and that can happen as we saw last year.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
OnceDear
OnceDear
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December 11th, 2023 at 4:40:43 AM permalink
Quote: AxelWolf

Have you tried sending using Trezor lately ? I don't know what the fees are there, I haven't cracked it out in a while, but with adjusted fees come longer confirmation times. With CB, it's quick easy, and convenient to use. Using a Trezor can be a slight pain in the ass. With CB I click a few buttons enter 2F and go. Since I'm making so many transactions frequently the convenience of just using Coinbase is significant.
link to original post



$4.60 confirmed promptly enough.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
rxwine
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December 11th, 2023 at 4:56:46 PM permalink
Hope this isn't too political, but the US. estimates N. Korea has stolen 3 billion in crypto so far.
There's no secret. Just know what you're talking about before you open your mouth.
DRich
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December 11th, 2023 at 4:59:56 PM permalink
Quote: rxwine

Hope this isn't too political, but the US. estimates N. Korea has stolen 3 billion in crypto so far.
link to original post



They have counterfeited a lot more than that in U.S. currency.
At my age, a "Life In Prison" sentence is not much of a deterrent.
AxelWolf
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December 11th, 2023 at 5:04:38 PM permalink
Quote: OnceDear

Quote: AxelWolf

Have you tried sending using Trezor lately ? I don't know what the fees are there, I haven't cracked it out in a while, but with adjusted fees come longer confirmation times. With CB, it's quick easy, and convenient to use. Using a Trezor can be a slight pain in the ass. With CB I click a few buttons enter 2F and go. Since I'm making so many transactions frequently the convenience of just using Coinbase is significant.
link to original post



$4.60 confirmed promptly enough.
link to original post

Thanks I'm not sure why I was being lazy and didn't check it myself. Probably because I have my Trezors secure and not easy to access.
That's a significant saving so it looks like I'm going to have to forgo convenience in order to save some money. I probably spent over $200 in extra fees.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
OnceDear
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December 12th, 2023 at 2:56:25 AM permalink
Quote: AxelWolf

Quote: OnceDear

Quote: AxelWolf

Have you tried sending using Trezor lately ? I don't know what the fees are there, I haven't cracked it out in a while, but with adjusted fees come longer confirmation times. With CB, it's quick easy, and convenient to use. Using a Trezor can be a slight pain in the ass. With CB I click a few buttons enter 2F and go. Since I'm making so many transactions frequently the convenience of just using Coinbase is significant.
link to original post



$4.60 confirmed promptly enough.
link to original post

Thanks I'm not sure why I was being lazy and didn't check it myself. Probably because I have my Trezors secure and not easy to access.
That's a significant saving so it looks like I'm going to have to forgo convenience in order to save some money. I probably spent over $200 in extra fees.
link to original post



If you want the convenience of Coinbase and even more flexibility than trezor, I can recommend Electrum. It's an offline software only wallet. It does note keeping better than trezor. You can set send fee to anything you like. You could also keep your wallet file on a USB stick if you want isolatable hardware that can go in the home safe.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
OnceDear
OnceDear
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December 12th, 2023 at 2:56:28 AM permalink
duplicate deleted
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
OrangePi5
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DRich
December 18th, 2023 at 4:16:33 PM permalink
bitcoin is a limited edition collectable, but you only get the serial number LOL.
90% of the game is 1/2 mental. -- Y. Berra Does idiot free Poker exist?
lilredrooster
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December 28th, 2023 at 9:44:11 AM permalink
.
a brief summary of a spectacular Crypto scammer

the FTX crypto exchange is now bankrupt and its founder Sam Bankman-Fried has been convicted on 7 charges of wire fraud, commodities fraud, securities fraud, money laundering and campaign finance law violations in 2023

Federal authorities had to chase him to the Bahamas and extradite him to get him to the U.S. to face charges

he faces decades in prison and sentencing in March of 2024 - he is currently awaiting sentencing in a Brooklyn jail

a 2nd trial including 5 other charges including bank fraud and bribery is scheduled for early March of 2024

before tumbling his various scams made him fabulously wealthy - Forbes at one time named him the 41st richest American - a billionaire - his net worth was estimated at $ 22.5 billion

at his zenith he was nicknamed "The J.P. Morgan of Crypto"

many who invested with FTX lost their life savings or very large amounts that badly hurt them financially


https://en.wikipedia.org/wiki/Sam_Bankman-Fried

.
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
lilredrooster
lilredrooster
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December 29th, 2023 at 5:41:26 AM permalink
.

the Federal Trade Commission reports (see link) that since the start of 2021 more than 46,000 people have reported losing more than a total of $1 billion in crypto scams - (how many lost how much due to scams but did not report____?)

also - 4 out of every 10 dollars lost due to social media scams involved crypto


https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2022/06/reports-show-scammers-cashing-crypto-craze

.
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
AZDuffman
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January 10th, 2024 at 3:51:47 PM permalink
It appears that several bitcoin ETFs have been approved. The next phase in crypto now begins.
All animals are equal, but some are more equal than others
DRich
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January 10th, 2024 at 4:33:45 PM permalink
Quote: AZDuffman

It appears that several bitcoin ETFs have been approved. The next phase in crypto now begins.
link to original post



I would expect that it will go up at least $10,000 in the next 30 days or so. I am not a proponent of crypto but for those of you that like to speculate, this might be a good time.
At my age, a "Life In Prison" sentence is not much of a deterrent.
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