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Old 12-06-2019, 02:55 PM
LoveLife LoveLife is offline
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And while Prankster is trying to plug the leaks,
here are the first cracks in the government crypto adoption.
All dam bursts began as tiny leaks.

The Marshall Islands are issuing its own cryptocurrency:
https://www.coindesk.com/why-the-mar...cryptocurrency

“To date, countries that have issued their own cryptocurrencies include Ecuador, China, Senegal, Singapore, Tunisia, though these countries will not be standing alone for long with Estonia, Japan, Palestine, Russia and Sweden looking to launch their own national cryptocurrencies. Some of these countries are likely to take it a step further and replace paper tender altogether with China being one nation that is looking to take one step beyond a virtual and paper version.”
https://www.fxempire.com/education/a...urrency-443966

I will love it when the Dutch offer their national crypto and call it the TULIP !!
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Old 12-06-2019, 11:55 PM
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We ain't got no stinkin' bittulips!!
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Old 12-07-2019, 02:25 AM
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Take a few minutes prankster and get enlightened:

https://www.forbes.com/sites/michael.../#5f763b9d4b4c


“I think of that as an example of the role I can do in helping people better understand blockchain and cryptocurrencies; breaking it down into terms that people can understand and then perhaps find comfort in it. Or if not, at least have a healthy debate without hyperbole and innuendo.”

Just what this thread could use!
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Old 12-07-2019, 12:00 PM
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Gonna get me 10,000 tulips!
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Old 12-07-2019, 03:46 PM
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Quote:
Originally Posted by prankster View Post
Gonna get me 10,000 tulips!
you have fun with that.



fyi, the tulip analogy is usually the analogy spouted off by people who have no idea about bitcoin and have no ability to comprehend bitcoin, and just want to spread fear, uncertainty, and doubt. Its one of the first negative viewpoints discovered upon googling "bitcoin"....

so good job outing yourself, NOOB. lol
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Old 12-07-2019, 06:09 PM
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Quote:
Originally Posted by Unbelievable View Post
you have fun with that.



fyi, the tulip analogy is usually the analogy spouted off by people who have no idea about bitcoin and have no ability to comprehend bitcoin, and just want to spread fear, uncertainty, and doubt. Its one of the first negative viewpoints discovered upon googling "bitcoin"....

so good job outing yourself, NOOB. lol
Not too long ago many many SMART people were begging Bernie to allow them to open an account. And so it goes brilliant fellow!
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Old 12-07-2019, 06:26 PM
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Originally Posted by prankster View Post
Not too long ago many many SMART people were begging Bernie to allow them to open an account. And so it goes brilliant fellow!
If you are trying to deter crime, then the blockchain is much more transparent
than any banker's ledger.

https://www.bloomberg.com/news/artic...ing-in-bitcoin

Nordea Bank bans employees from trading Bitcoin on their OWN time!!
And a Danish court (the Socialist defender of individual rights - hehe)
upholds the banks right to ban employee activity at home!!

Ironically, this is the same bank that was found guilty of laundering Russian cash.
Typical bankster...do as we say..not as we do.

Cryptocurrencies level the playing field.
That is why bankers and elites hate crypto.
The enmity has everything to do with criminal activity.
Because banks and cash are neck-deep into such activity:
money laundering, sanction busting, market price manipulation,
usury interest rates, bail-ins/bail-outs, red-lining, currency printing.
All illegal if any of us did it.
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Old 12-07-2019, 11:11 PM
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Get Ready for the IRS:

The IRS released a new form you’ll need to complete your 2019 tax return. They are asking whether you’ve acquired, exchanged or sold a financial interest in virtual currency.

Earlier this year, the IRS sent letters to some taxpayers who’ve made virtual currency transactions, telling them to pay back taxes and file amended returns.

Taxpayers are required to keep track of all of their transactions and their cost basis.

Failure to report could be considered fraud and there is no statute of limitations on IRS fraud.
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Old 12-08-2019, 02:09 AM
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Quote:
Originally Posted by rriley View Post
Get Ready for the IRS:

The IRS released a new form you’ll need to complete your 2019 tax return. They are asking whether you’ve acquired, exchanged or sold a financial interest in virtual currency.

Earlier this year, the IRS sent letters to some taxpayers who’ve made virtual currency transactions, telling them to pay back taxes and file amended returns.

Taxpayers are required to keep track of all of their transactions and their cost basis.

Failure to report could be considered fraud and there is no statute of limitations on IRS fraud.
Other than the crypto question across the top of the 1040 form,
those trading rules are no different from stocks and bonds.
Or real estate. Or Precious metals. Or derivatives trading.
Nothing to fear if you track your trades and pay any taxes due.
More anti crypto FUD.

Here you go, “crypto taxes for dummies”:
https://taxbit.com/

Or if complicated tax computations keep you up at night,
https://bitcoinira.com/
Walla...no need to track your trades...and tax free after age 59.5
Use the IRS rules. Don’t fear them.
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Old 12-08-2019, 05:46 AM
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Another great interview video...if you can get past the Australian journalist!
Tim Draper is a Stanford educated, billionaire who has invested in
winning companies for decades.

https://youtu.be/H6Xz4luFb2c

His crystal ball is crystal clear.
AI, technology, and crypto.
Invest in the Kodaks of the world if you must.
But as for I and my family, we chose the road less traveled.
“The Wright Brothers didn’t have pilot licenses”!
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Old 12-12-2019, 04:57 PM
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More adoption by a Fortune 100 company:

https://cointelegraph.com/news/nike-...m_medium=email
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Old 12-12-2019, 07:35 PM
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As we approach the end of another year,
it is again time to report results:
As of December 13

2019 YTD ROI
Real estate 2.7%
S&P500 22%
bitcoin 87%

5 year return (from Jan 1, 2015)
Real estate 35%
S&P500 63%
bitcoin 2,185%

Opinions can differ, but facts speak volumes.

And in difference to the “never crypto” guys who were claiming that most crypto investors lose money:
“Bitcoin holders are also having a great year. The top cryptocurrency is up by over 95% year-to-date. The numbers align. According to The Block, 61% of bitcoin holders are sitting in profits.”

https://www.ccn.com/holders-of-over-...t-just-a-meme/
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Old 12-12-2019, 08:33 PM
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Originally Posted by Unbelievable View Post
I think personally that a lot of bitcoin will be lost because of people sending it to invalid wallets and that is one of the reasons its going to skyrocket....
It is estimated that as few as 16 million BTC are not “lost”.
But of those potential 16 million, only 5 million traded hands last year.
Over 11 million are being held in anticipation of their future value.
There is a monetary theory (name escapes me) that says investors will hold the stronger asset
and spend the weaker asset first (hold BTC, spend fiat).
That theory can be self fulfilling. By holding, they create scarcity.
I have a bag of core holdings that I do not trade.
Some of that bag is safely held off-exchange. Some is exchange loaned to generate income. Some is staked for dividends.
https://coinpath.io/news/holders-of-...t-just-a-meme/

Quote:
Originally Posted by Unbelievable View Post
another huge thing about crypto is the ability to transfer wealth to family after passing without the .gov trying to take a cut..
You are psychic. This was just released yesterday.
https://u.today/bitcoin-could-benefi...grayscale-exec

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Originally Posted by Unbelievable View Post
and another thought that just will not leave my mind about crypto is how it is totally going to change the way our governments operate. Governments may even cease to exist! I think that's why many of them are trying to scramble now to make their own crypto coins.
Over time, paper money will go away. That is a sea change. Personal privacy issues will need to be resolved.
Tezos (XTZ) is a protocol that offers on chain governance. A democracy that has coin holders vote on improvements.
Maybe someday government will swing back to be more “by the People”.
But there are a million smaller ways that crypto will change government:
- reduce fake news. A Senator’s voting record will be on the immutable blockchain.
- reduced costs. Transparency will greatly reduce the instances of $100,000 Air Force toilet seats.
- lost assets. The government has hundreds of buildings that they do not know what is even inside.
- liquidity. Move some of the Treasury debt to crypto.
- speed of payment. Think of the improved optics if Obama used crypto instead of sending the pallet of cash to Iran via airplane!
Think of the savings if the money had been sent to Ukraine within seconds of Congressional approval,
instead of days later when Trump used it in the quid pro quo drama!!

Quote:
Originally Posted by Unbelievable View Post
the whole industry is going to be absolutely amazing and is going to spur many many jobs. SOOOOOOOO MANY JOBS!

I want to go to school for it right now and immerse myself into it more then I am capable of immersing myself into it now...

know of anywhere legit?
Crypto will generate jobs.
But it will also eliminate jobs.
Intermediaries. Anyone in between peer-to-peer.
Just as the internet did. Remember when we needed a travel agent? All those people at Sears?

I am not in academia. I have reached out to a couple friends who might be able to Answer your school question.
Be careful, I have a lot of relatives who sent their kids off to university,
and the grads returned socialists with many warped financial theories
I don’t want you to leave for school enthused about decentralized, privacy coins;
and years later you are an amazing cryptographer who will only code for the CIA-manipulated FEdCoin!!

The below article also speaks to less formal and online education:

https://blog.coinbase.com/highereducation-c4fb40ecbc0e
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Old Yesterday, 09:21 AM
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Thanks LoveLife - I wish I was psychic. that would be a great super power to have. I think I'm just intuitive by nature! I do know for sure that blockchain technology is the future in so many ways!

As far as education is concerned, I think education on this topic is primarily going to have to be self taught for now. It MAY one day become a gigantic area of study implemented in most every academic institution.

There ARE some community colleges and state colleges that are starting to just now start this programs. One in my back yard actually just started one this year it appears!
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Old Yesterday, 06:12 PM
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Quote:
Originally Posted by Unbelievable View Post

As far as education is concerned, I think education on this topic is primarily going to have to be self taught for now!
Tons of info on the internet.
Unfortunately in our world there is very little unbiased info.
Everyone is shilling or dissing.

I started with crypto meetups.
Even if I had no interest in their coin.
I found everyone from devs and CEOs down to a homeless guy who showed up for the free hors d’oeuvres.
Seek and ye shall find.
https://www.meetup.com/

https://www.investopedia.com/cryptoc...cation-4689762
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Old Yesterday, 06:24 PM
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Robinhood offers fractional stock shares.
They will sell ya crypto as well.

Just announced 18 hours ago, and I am #376,000 on the waiting list.
(Wait lists are getting common place. When will I see my Cybertruck? )

https://techcrunch.com/2019/12/12/ro...ctional-share/
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