What's illegal about me buying a pizza with bitcoin...?zeebaron wrote: ↑Mon Jan 11, 2021 12:25 amYes. My point still stands.
How much do you spend of your investment on things you would normally buy with USD?
Crypto Currency Mining
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Tenzing_Norgay
- Posts: 1583
- Joined: Wed Jul 18, 2018 1:55 pm
- Location: Your mom's house, Trebek!
- I can explain it to you, but I can't understand it for you... -
https://dnyuz.com/2021/01/12/lost-passw ... ortunes/[armedpolak wrote: ↑Fri Jan 08, 2021 1:46 pmtell me about it! it was a long randomly generated wallet password; I have the wallet but the password I wiped accidentally. oh wellSpringfield wrote: ↑Fri Jan 08, 2021 1:15 pm120 Bitcoins = $4.8M today - hard to forget indeedarmedpolak wrote: ↑Fri Jan 08, 2021 12:28 pm yea I used to, when it was cheap; then I lost a wallet with 120+ coins in it. wife still can't forget that
"Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million."
“Democracy is a pathetic belief in the collective wisdom of individual ignorance.”
I've never used btc to buy anything, but tax is tough...you can't use it as currency, you are technically selling it and then transferring cash triggering a taxable event. But that's besides the point... I had a 14 hour delay moving coin from one wallet to another... I'd be 4 pies in before they'd let me leave the store.Tenzing_Norgay wrote: ↑Mon Jan 11, 2021 8:24 pmWhat's illegal about me buying a pizza with bitcoin...?
"Illegal"....
I have friends who use crypto for their off-shore sports wagering (and on-line poker). As I understand it is not illegal for individuals to engage in such, but banks can't facilitate it (knowingly at least)--hence BTC makes the money transfers easy. The services off-shore are violating US law, but the well-established ones have been doing it for over 20 years so they seem to be beyond the reach of the Almighty US Government, thankfully.
Of course many states have now legalized these activities, so there is no need for their residents to go off-shore to begin with, and instead they pay taxes to the state. But since we live in Flori-duh, controlled by an unholy alliance of the Mouse, Bible beaters and the Seminoles dropping bags of cash on state legislators, it seems we are too stupid to do the same. So we have bitcoin used to facilitate "illegality."
Ditto on weed.
Those of you who cheer on these prohibitionist mindsets, enjoy yourselves for now since the next target of prohibitionism is going to be guns. And every tool you give the government as to these other things will be used against you.
I have friends who use crypto for their off-shore sports wagering (and on-line poker). As I understand it is not illegal for individuals to engage in such, but banks can't facilitate it (knowingly at least)--hence BTC makes the money transfers easy. The services off-shore are violating US law, but the well-established ones have been doing it for over 20 years so they seem to be beyond the reach of the Almighty US Government, thankfully.
Of course many states have now legalized these activities, so there is no need for their residents to go off-shore to begin with, and instead they pay taxes to the state. But since we live in Flori-duh, controlled by an unholy alliance of the Mouse, Bible beaters and the Seminoles dropping bags of cash on state legislators, it seems we are too stupid to do the same. So we have bitcoin used to facilitate "illegality."
Ditto on weed.
Those of you who cheer on these prohibitionist mindsets, enjoy yourselves for now since the next target of prohibitionism is going to be guns. And every tool you give the government as to these other things will be used against you.
“Democracy is a pathetic belief in the collective wisdom of individual ignorance.”
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dammitgriff
- Posts: 928
- Joined: Tue Jul 31, 2018 11:06 am
Some Bitcoin devotee commented on a Kitco interview that digital currency is the only asset that carries zero counter-party risk, which is incorrect because it is still subject to legislative regulation and the whims of the tech overlords. After they pulled the plug on Parler, who thinks they couldn’t shut down Bitcoin transactions by DoS? Bitcoin relies on the infrastructure of the internet, like everything else. No internet, no BTC transactions.
We’re just one solar flare away from time travel back ——> to the 1980’s.
We’re just one solar flare away from time travel back ——> to the 1980’s.
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Benjaminmarcoux
- Posts: 2
- Joined: Mon May 24, 2021 10:36 am
In terms of gains, it's not worth it. Mining is like playing a musical instrument. If you're doing it for fun, great! If you're doing it to make money you'll probably fail. If you have a big house, low energy cost, and a lot of money to throw at mining equipment to make it profitable enough then go for mining. But on the other hand, cryptocurrency trading is better if you want to earn money faster, mining is more like a job and ROI can be doubled depending on the difficulty. I trade through the crypto trading bot. Basically, you have to pick a strategy and the bot automates the trade based on the strategy. That's why the most important thing is the strategy itself. Here (check this bot https://tradingbot-solutions.com/ link only for info) that I have been using.
Last edited by Benjaminmarcoux on Fri May 28, 2021 6:05 am, edited 1 time in total.
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MiamiOffshore
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Because true DeFi cryptocurrency is p2p (peer to peer) thus no reliance on centralized anything. That is the future and the essence behind digital freedom. As you mentioned Parler was shutdown because it was on servers which are centralized.dammitgriff wrote: ↑Fri Jan 15, 2021 9:47 pm who thinks they couldn’t shut down Bitcoin transactions by DoS? Bitcoin relies on the infrastructure of the internet, like everything else. No internet, no BTC transactions.
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dammitgriff
- Posts: 928
- Joined: Tue Jul 31, 2018 11:06 am
Yes, that is true. However, the tax man cometh, and he’s bringing the regulators with him. If crypto transactions are P2P and encrypted and anonymous, how is it possible to ID your tax target?
As long as Uncle Sam is around there is no such thing as a free and unfettered market in anything. I support the movement away from centralized banking/authority and hope to see a white market emerge. It would be a step in the right direction…financial independence from the worthless USD.
R/Griff
As long as Uncle Sam is around there is no such thing as a free and unfettered market in anything. I support the movement away from centralized banking/authority and hope to see a white market emerge. It would be a step in the right direction…financial independence from the worthless USD.
R/Griff
but... what are you going to use instead of USD for bribing the legislators to abandon it?
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dammitgriff
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“The world’s crypto pioneer, bitcoin, slumped below $36,000 on Friday, marking a day-over-day decline of almost 10% as its market rivals, including ether and dogecoin, also saw declines.”
Keeping in mind, of course, that Bitcoin was just $1 apiece about 11 years ago. I have a feeling it will rebound to $1M per by 2030.
Also, BTC is priced in USD…which to some extent reveals just how worthless the dollar is becoming. Same with gold—its price reflects the devaluation of the dollar.
* gold closed at $1903.50 today *
R/Griff
Keeping in mind, of course, that Bitcoin was just $1 apiece about 11 years ago. I have a feeling it will rebound to $1M per by 2030.
Also, BTC is priced in USD…which to some extent reveals just how worthless the dollar is becoming. Same with gold—its price reflects the devaluation of the dollar.
* gold closed at $1903.50 today *
R/Griff