$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

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Akashic Retard

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Mar 19, 2021
Atomic Swaps from Bitcoin into Monero will allow for fungibility and anonymity.
You can swap bitcoin for eth and eth tokens and some other coins without messing with wrapping on thorswap.finance, crossing my fingers they add monero one day. No idea how anonymous this would be but it seems good to my retard brain.

News:
Russia to treat Bitcoin as a currency

Unfortunately it seems more as a vehicle to regulate and monitor crypto usage and transactions rather than an attempt to classify Bitcoin accurately.
 
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Weeb_Killer

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I know I'm late to the party and a fag, but is it still worth buying bitcoin? I don't care about earning off it, I'm talking about the utility in it.

Basically, I don't want to pay tax. I handle a lot of cash in my line of work that the government can't track. Rather than putting it into a bank account, I'd rather put it in an anonymous e-wallet that no sniveling eye of bureaucracy can ever find. Is this possible?

Also, in light of Trudolf's antics in leafland, I'm thinking that now's the time to "diversify" my savings.
 

Kosher Dill

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I'd rather put it in an anonymous e-wallet that no sniveling eye of bureaucracy can ever find. Is this possible?
Not with bitcoin. The only viable use for bitcoin is to speculate, cash out, and pay your taxes on the gains like a good citizen.
Try Monero if you want a coin that's actually anonymous and private (so far).
 

Treasure Champs

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I know I'm late to the party and a fag, but is it still worth buying bitcoin? I don't care about earning off it, I'm talking about the utility in it.

Basically, I don't want to pay tax. I handle a lot of cash in my line of work that the government can't track. Rather than putting it into a bank account, I'd rather put it in an anonymous e-wallet that no sniveling eye of bureaucracy can ever find. Is this possible?

Also, in light of Trudolf's antics in leafland, I'm thinking that now's the time to "diversify" my savings.

It's the on-ramp that's the problem, really. You need some electronic means to turn fiat into bitcoin, and that means paying with a card that can be traced to your name and address, even if the exchange itself doesn't have kyc (know your customer, which often involves uploading ID as well as taking a photo of yourself to prove you are that person).

Bitcoin ATM machines supposedly take cash notes, but I've never tried it or really paid attention to a BTC ATM. If you could feed it notes and transfer it to a hardware wallet like a ledger then there'd be air between your BTC and any nosy types. You'd have to then find a way to cash it out anonymously on the other side.

The block chain is all publicly assessible so it's almost impossible for scammers to move stolen crypto around and get it out successfully in spendable money. This is an article about two scammers who basically tried everything -including Monero- and still got caught.
 

Kosher Dill

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Bitcoin ATM machines supposedly take cash notes, but I've never tried it or really paid attention to a BTC ATM.
BTC ATMs are intensely watched by the phosphorescent Afro-Americans, and always require at least some rudimentary form of KYC. You could go through some cloak-and-dagger rigmarole with burner phones, fake IDs, and Groucho glasses, but it'd probably just end up drawing even more unwanted attention to "The mystery bitcoin buyer in Groucho glasses".

This is an article about two scammers who basically tried everything -including Monero- and still got caught.
Yeah, Monero (or cash, bars of gold, whatever) won't help if you're already starting with bitcoin.
 

AnOminous

I hated Woody Woodpecker and Scooby-Doo.
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It's the on-ramp that's the problem, really. You need some electronic means to turn fiat into bitcoin, and that means paying with a card that can be traced to your name and address, even if the exchange itself doesn't have kyc (know your customer, which often involves uploading ID as well as taking a photo of yourself to prove you are that person).
Or you can meet some sketchy dude from localbitcoins.com, or have an online storefront operating out of some failed state and drop ship stuff to people you sell for crypto.
 

Orange Rhymer

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Oct 12, 2019
It's the on-ramp that's the problem, really. You need some electronic means to turn fiat into bitcoin, and that means paying with a card that can be traced to your name and address, even if the exchange itself doesn't have kyc (know your customer, which often involves uploading ID as well as taking a photo of yourself to prove you are that person).

Bitcoin ATM machines supposedly take cash notes, but I've never tried it or really paid attention to a BTC ATM. If you could feed it notes and transfer it to a hardware wallet like a ledger then there'd be air between your BTC and any nosy types. You'd have to then find a way to cash it out anonymously on the other side.

The block chain is all publicly assessible so it's almost impossible for scammers to move stolen crypto around and get it out successfully in spendable money. This is an article about two scammers who basically tried everything -including Monero- and still got caught.
This is the genius that got caught. Ego and greed + autism + underestimating others' intelligence.
Autism truly is a mental disability.

 

TheRedChair

Ultimate Chaos, Ultimate Confort.
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This is the genius that got caught. Ego and greed + autism + underestimating others' intelligence.
Autism truly is a mental disability.
If you check their age I bet ya they be's from GENRATION FAIL. Now the video is pretty cool. The Red Chair Approves.
 

Akashic Retard

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Mar 19, 2021

Full report from Fidelity Digital Assets here

BITCOIN FIRST​

Why Investors Need to Consider Bitcoin Separately From Other Digital Assets
  • By Chris Kuiper and Jack Neureuter
  • 01/31/2022
Once investors have decided to invest in digital assets, the next question becomes, "Which one?" Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundreds and even thousands of other digital assets in the ecosystem.

One of the first concerns investors have regarding bitcoin is as the first digital asset it may be vulnerable to innovative destruction from competitors (such as the story of MySpace and Facebook). Another common consideration surrounding bitcoin is whether it offers the same potential reward or upside as some of the newer and smaller digital assets that have emerged.

In this paper we propose:

  • Bitcoin is best understood as a monetary good, and one of the primary investment theses for bitcoin is as the store of value asset in an increasingly digital world.
  • Bitcoin is fundamentally different from any other digital asset. No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, sound digital money and any "improvement" will necessarily face tradeoffs.
  • There is not necessarily mutual exclusivity between the success of the Bitcoin network and all other digital asset networks. Rather, the rest of the digital asset ecosystem can fulfill different needs or solve other problems that bitcoin simply does not.
  • Other non-bitcoin projects should be evaluated from a different perspective than bitcoin.
  • Bitcoin should be considered an entry point for traditional allocators looking to gain exposure to digital assets.
  • Investors should hold two distinctly separate frameworks for considering investment in this digital asset ecosystem. The first framework examines the inclusion of bitcoin as an emerging monetary good, and the second considers the addition of other digital assets that exhibit venture capital-like properties.
 

Orange Rhymer

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Oct 12, 2019
Some economic news:
Russian funds have been 'quarantined' by US and Canada - Additionally, Russia was removed from the SWIFT network
also:
S&P and Finch have downgraded Russian (and Ukraine) ratings to 'Junk' status.
Europe is continuing the removal of coal/nuclear energy production as mandated by the EU
also
Food prices will skyrocket due to industrial-scale fertilizer production being created by natural gas.

Projected Results:
1) Fiat will tank (in value)- worldwide
2) Inflation will hit 2x digits
3) Energy and Food will soar (Russia is the worlds 3rd oil producer)
and
4) BTC will skyrocket. Fiat is killing themselves. It's not 'to the moon' garbage, just literal result of actions.

No participant wins in an embargo - don't participate. Elevate.
 

shameful existence

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If you use Trezor, you probably received a phishing email. There must have been a leak of contact information of people who ordered one. The email looks very convincing and I'm sure there will be people scammed.
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Edit: official response.
trezor0.png
 
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wtfNeedSignUp

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Dec 17, 2019
So a question I thought of, correct me if I'm wrong. From what I understand how crypto coin works is that you need the authorization of 51% of the users for a transaction (so there wouldn't be different transactions using the same coins). But what happens if most of the servers are down and that 51% cannot be reached? Can it only use the current online users?
 

Vecr

"nanoposts with 90° spatial rotational symmetries"
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Jun 24, 2019
From what I understand how crypto coin works is that you need the authorization of 51% of the users for a transaction
No, any miner who can get enough hash power to produce a block can include your transaction in that block. The difficulty is stochastic and self-adjusting, so in a steady state a block is produced about every ten minutes. The 51% thing is about re-winding time and creating your own version of the present by making a chain longer than the honest miners can.
 

ditto

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Aug 17, 2019
I've seen some third–party wallet recovery services online that claim they can possibly brute force it, but they want a 20% fee
All of these services are 100% scams without exception. But so long as you created the wallet offline and it should still be recoverable.

After it mooned I tried recovering some Dogecoin from an old wallet created by a mobile app and (suprise) the coins were long gone.
 

Treasure Champs

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Wikipedia has stopped accepting crypto
View attachment 3241114

I was surprised the Wikipedia Sysop leading the change has a thread here. They talk about her interest in crypto here

Who is that guy and why is he having such a hysterical bitch-fit over crypto? 'Akin to transacting in blood diamonds' LMFAO. I'll file that one in my leftist delusion box along with the 'liTeral GenOcide' of trannies.

They're doing a good job, though, spreading this nonsense to normies. I've heard quite a few IRL left-leaning types asserting confidently that crypto is evil. They don't know why, of course. Something to do with criminals. Say the word 'blockchain' and they will go 'huh?' But their faith is strong that it is bad, just the same.
 

Orange Rhymer

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Oct 12, 2019
Wikipedia has stopped accepting crypto
View attachment 3241114

I was surprised the Wikipedia Sysop leading the change has a thread here. They talk about her interest in crypto here
Expected.
(not so) Veiled threats by the IRS and DOJ have been mailed to US corporations.

(BTW- If a company pays the attacker in a Ransomware attack - the corp CAN be considered in violation of the AML Act of 2020...)