Bitcoin Mining Calculator - My Crypto Buddy

Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!

That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ???
Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth.
Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ...
.
Bitcoin Achievements so far:
  1. It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
  2. Many 1,000's of hacks, thefts, losses.
  3. Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
  4. Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
  5. Contributing significantly to Global Warming.
  6. Wastes vasts amounts of electricity on useless, do nothing work.
  7. Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
  8. It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
  9. It created a new way for people living too far from Vegas to gamble all their life savings away.
  10. Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
  11. Increased China's foreign trade balance by a couple billion dollars per year.
  12. Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
  13. Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
  14. Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
  15. Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
  16. Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
.
Correct Predictions:
  1. 2015-12: "1,000 dollar in 2015", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/ (Technically, this prediction is WRONG because the highest price reached in 2015 was $495.56 according to CMC. Yes, Bitcoin reached $1,000 in 2013 and 2014, but that's NOT what the prediction says).
  2. 2017-12: "10,000 in 2017", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  3. 2018-04: $10,000 (by April 2018), Mike Novogratz, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.bloomberg.com/news/articles/2017-11-21/mike-novogratz-says-bitcoin-will-end-the-year-at-10-000
  4. 2018-12: $10,000 (by 2018), Tim Draper, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.youtube.com/watch?v=3AW5s6QkRRY
  5. Any others ? (Please tell me).
.
Bitcoin Promises / Claims / Price Predictions that turned out to be lies and bullshit:
  1. ANONYMOUS
  2. CENSORSHIP RESISTANT
  3. FRICTIONLESS
  4. TRUSTLESS
  5. UNCENSORABLE
  6. UNTRACEABLE
  7. SAFE
  8. SECURE
  9. YOU CANNOT LOSE
  10. NOT A SCAM
  11. PERMISSIONLESS
  12. GUARANTEED PRIVACY
  13. CANNOT BE SEIZED
  14. CANNOT BE CONFISCATED
  15. Be your own bank
  16. Regulation-proof
  17. NO MIDDLEMEN
  18. DECENTRALIZED
  19. Instantaneous transactions
  20. Fast transactions
  21. Zero / No transaction fees
  22. Low transaction fees
  23. A store of value
  24. A deflationary digital asset
  25. "A deflationary digital asset that no single human being can destroy."
  26. "an asset that is equally as dual use as a car, water, or any other traditional element that has existed."
  27. "Digital gold"
  28. Easy to use
  29. Cannot be stolen
  30. Cannot be hacked
  31. Can be mined by anyone
  32. Can be mined by anyone, even with an old computer or laptop
  33. Cannot be centralized
  34. Will return power back to the people.
  35. Not a Ponzi scam
  36. Not a Pyramid scam
  37. Never pay tax again
  38. Your gains cannot be taxed
  39. A currency
  40. An amazing new class of asset
  41. An asset
  42. A means to economic freedom
  43. A store of value
  44. The best investment the word has ever seen
  45. A great investment
  46. Efficient
  47. Scalable
  48. Stable
  49. Resilient
  50. Reliable
  51. Low energy
  52. Low risk
  53. Redistribute wealth to everybody
  54. No more have's and have not's
  55. No more US and THEM
  56. No more disadvantaged people
  57. No more RICH and POOR
  58. No more poor people
  59. Uses amazing new technology
  60. Uses ingenious new technology
  61. Satishi Nakamoto invented ...
  62. Segwit will solve all of Bitcoin's woes
  63. Lightning Network will solve all of Bitcoin's woes
  64. Limited by scarcity
  65. Can only go up in value
  66. Price cannot crash
  67. Has intrinsic value
  68. Value will always be worth more than cost to mine
  69. Adoption by investors is increasing exponentially
  70. Adoption by investors is increasing
  71. Adoption by merchants is increasing exponentially
  72. Adoption by merchants is increasing
  73. You are secure if you keep your coins on an exchange
  74. You are secure if you keep your coins in a hardware wallet
  75. You are secure if you keep your coins in an air-gapped Linux PC
  76. Will change the world
  77. "the next phase in human evolution"
  78. "Blockchain is more encompassing than the internet"
  79. Blockchain can solve previously unsolvable problems.
  80. "The only regulation we need is the blockchain"
  81. "Bank the unbanked"
  82. "To abolish financial slavery and the state's toxic monopoly on money."
  83. "To have better tools in the fight against the state violence and taxation."
  84. "To stamp information on a blockchain forever so we can bypass state censorship, copyrights, patents(informational monopolies) etc."
  85. Will destroy / overthrow FIAT
  86. Will destroy / overthrow the world's governments
  87. Will destroy / overthrow the banking system
  88. Will destroy / overthrow the world economies
  89. Will free people from tyranny
  90. Will give people financial freedom
  91. Will bring world peace
  92. Never going below $19K again
  93. Never going below $18K again
  94. Never going below $17K again
  95. Never going below $16K again
  96. Never going below $15K again
  97. Never going below $14K again
  98. Never going below $13K again
  99. Never going below $12K again
  100. Never going below $11K again
  101. Never going below $10K again
  102. Never going below $9K again
  103. Never going below $8K again
  104. Never going below $7K again
  105. Never going below $6K again
  106. Never going below $5K again
  107. Never going below $4K again
  108. Is NOT a Scam
  109. Hashing Power secures the Bitcoin network
  110. Untraceable, private transactions
  111. Guaranteed privacy
  112. Not created out of thin air
  113. Not created out of thin air by unregulated, unbacked entities
  114. Totally NOT a scam
  115. Is not used primarily by crimonals, drug dealers, or money launderers.
  116. 100% secure
  117. 2010 will be the "Year of Crypto"
  118. 2011 will be the "Year of Crypto"
  119. 2012 will be the "Year of Crypto"
  120. 2013 will be the "Year of Crypto"
  121. 2014 will be the "Year of Crypto"
  122. 2015 will be the "Year of Crypto"
  123. 2016 will be the "Year of Crypto"
  124. 2017 will be the "Year of Crypto"
  125. 2018 will be the "Year of Crypto"
  126. 2019 will be the "Year of Crypto"
  127. 2010: MASS ADOPTION any day now"
  128. 2011: MASS ADOPTION aany day now"
  129. 2012: MASS ADOPTION aaany day now"
  130. 2013: MASS ADOPTION aaaany day now"
  131. 2014: MASS ADOPTION aaaaany day now"
  132. 2015: MASS ADOPTION aaaaaany day now"
  133. 2016: MASS ADOPTION aaaaaaany day now"
  134. 2017: MASS ADOPTION aaaaaaaany day now"
  135. 2018: MASS ADOPTION aaaaaaaaany day now"
  136. 2019: MASS ADOPTION aaaaaaaaany day now"
  137. "Financial Freedom, bro."
  138. no single entity, government or individual, can alter or reverse its transactions
  139. insurance against the tyranny of state
  140. Bitcoin has come to destroy all governments and bring about the libertarian utopia of my dreams.
  141. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 2+ years.
  142. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 5+ years.
  143. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 7+ years.
  144. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 9+ years.
  145. 1,000's of predictions of skyrocketing and/or never falling prices
  146. Escape the petty rivalries of warring powers and nation states by scattering control among the many. The Bitcoin Cash debacle proves that even the most cryptographically secure plans of mice and men often go awry. Ref: https://www.reddit.com/Buttcoin/comments/9zfhb6/like_theres_only_one_flaw_with_buttcoin_crash/ea8s11m
  147. People will NEVER be able to welch out of bets or deals again. Nov-2018, Ref: https://www.reddit.com/Buttcoin/comments/9zvpl2/the_guy_who_made_the_1000_bet_that_btc_wouldnt/
  148. "Everything will be better, faster, and cheaper.", Brock Pierce, EOS.io shill video.
  149. "Everything will be more connected.", Brock Pierce, EOS.io shill video.
  150. "Everything will be more trustworthy.", Brock Pierce, EOS.io shill video.
  151. "Everything will be more secure.", Brock Pierce, EOS.io shill video.
  152. "Everything that exists is no-longer going to exist in the way that it does today.", Brock Pierce, EOS.io shill video.
  153. "Everything in this world is about to get better.", Brock Pierce, EOS.io shill video.
  154. You are a slave to the bankers
  155. The bankers print money and then you pay for it
  156. Bitcoin is The Peoples Money
  157. Bitcoin will set you free
  158. Bitcoin will set you free from the slavery of the banks and the government Ref: https://www.reddit.com/Bitcoin/comments/cd2q94/bitcoin_shall_set_you_free/
  159. ~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  160. "When transactions are verified on a Blockchain, banks become obsolete.", Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  161. SnapshillBot quotes from delusional morons:
  162. "A bitcoin miner in every device and in every hand."
  163. "All the indicators are pointing to a huge year and bigger than anything we have seen before."
  164. "Bitcoin is communism and democracy working hand in hand."
  165. "Bitcoin is freedom, and we will soon be free."
  166. "Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
  167. "Bitcoin most disruptive technology of last 500 years"
  168. "Bitcoin: So easy, your grandma can use it!"
  169. "Creating a 4th Branch of Government - Bitcoin"
  170. "Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
  171. "Future us will thank us."
  172. "Give Bitcoin two years"
  173. "HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
  174. "Cut out the middleman"
  175. "full control of your own assets"
  176. "reduction in wealth gap"
  177. "no inflation"
  178. "cannot print money out of thin air"
  179. "Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
  180. "If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
  181. "Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
  182. "NO COINERS will believe anything they are fed by fake news and paid media."
  183. "I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
  184. "I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
  185. "I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
  186. "I think Bitcoin will do for mankind what the sun did for life on earth."
  187. "I think the constant scams and illegal activities only show the viability of bitcoin."
  188. "I think we're sitting on the verge of exponential interest in the currency."
  189. "I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
  190. "If Jesus ever comes back you know he's gonna be using Bitcoin"
  191. "If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
  192. "If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
  193. "In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
  194. "In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
  195. "Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
  196. "It won't be long until bitcoin is an everyday household term."
  197. "It's the USD that is volatile. Bitcoin is the real neutral currency."
  198. "Just like the early Internet!"
  199. "Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
  200. "Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
  201. "let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
  202. "My conclusion is that I see this a a very good thing for bitcoin and for users"
  203. "No one would do such a thing; it'd be against their self interests."
  204. "Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
  205. "Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
  206. "Seperation of money and state -> states become obsolete -> world peace."
  207. "Some striking similarities between Bitcoin and God"
  208. "THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
  209. "The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
  210. "The bull run should begin any day now."
  211. "The free market doesn't permit fraud and theft."
  212. "The free market will clear away the bad actors."
  213. "The only regulation we need is the blockchain."
  214. "We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
  215. "We do not need the bankers for Satoshi is our saviour!"
  216. "We have never seen something so perfect"
  217. "We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
  218. "We verified that against the blockchain."
  219. "we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
  220. "Well, since 2006, there has been a infinite% increase in price, so..."
  221. "What doesn't kill cryptocurrency makes it stronger."
  222. "When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
  223. "When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
  224. "Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
  225. "Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
  226. "You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
  227. "You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
  228. "Your phone or refrigerator might be on the blockchain one day."
  229. The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
  230. Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
  231. It's impossible to hide illegal, unsavory material on the blockchain
  232. It's impossible to hide child pornography on the blockchain
  233. Fungible
  234. All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
  235. The price of Bitcoin can only go up.
  236. "Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  237. Scarcity
  238. The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
  239. immune to government regulation
  240. "a world-changing technology"
  241. "a long-term store of value, like gold or silver"
  242. "To Complex to Be Audited."
  243. "Old Auditing rules do not apply to Blockchain."
  244. "Old Auditing rules do not apply to Cryptocurrency."
  245. "Why Bitcoin has Value: SCARCITY.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  246. "Bitcoin is the first scarce digital object the world has ever seen, it is scarce like silver & gold, and can be sent over the internet, radio, satellite etc.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  247. "Surely this digital scarcity has value.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  248. Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  249. "May 2018 will be the last time we ever see $bitcoin under $10,000", Charlie Shrem, bitcoin advocate and convicted felon, 11:31 AM 3-May-2018, https://twitter.com/CharlieShrem/status/992109375555858433
  250. "Last dip ever.", AngeloBTC, 14 Oct 2018, https://mobile.twitter.com/AngeloBTC/status/1051710824388030464/photo/1
  251. "Bitcoin May Have Just Experienced its Final Shakeout Before a Big Rally", Joseph Young, coin shill, October 15, 2018 22:30 CET, https://www.ccn.com/bitcoin-may-have-just-experienced-its-final-shakeout-before-a-big-rally/
  252. Bitcoin would be a buy if the price fell under $5,000., Mohamed El-Erian, chief economic advisor at Allianz, 29-Jun-2018, https://www.ccn.com/bitcoin-a-buy-below-5000-says-allianz-chief-economic-adviso
  253. 2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  254. 2018-02: Bitcoin price to hit $27,000 by February 2018, Trace Mayer, host of the Bitcoin Knowledge Podcast, and self-proclaimed entrepreneur, investor, journalist, monetary scientist and ardent defender, Link #1: https://mobile.twitter.com/TraceMayestatus/917260836070154240/photo/1, Link #2: https://www.bitcoinprice.com/predictions/
  255. 2018-06: "Bitcoin will surpass $15,000 in June [2018]." John McAfee, May 25, 2018, https://bitcoinist.com/john-mcafee-says-bitcoin-will-surpass-15000-in-june/
  256. 2018-07: Bitcoin will be $28,000 by mid-2018, Ronnie Moas, Wall Street analyst and founder of Standpoint Research, http://helpfordream.com/2018/12/23/5-bitcoin-price-predictions-gone-wrong/.
  257. 2018-12: Bitcoin to reach a price of between 40,000 and 110,000 US dollars by the end of the 2017 bull run ... sometime before 2019, Masterluc, 26-May-2017, an anonymous "legendary" Bitcoin trader, Link #1: https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/, Link #2: https://www.bitcoinprice.com/predictions/
  258. 2018-12: "There is no reason why we couldn’t see Bitcoin pushing $50,000 by December [2018]", Thomas Glucksmann, head of APAC business at Gatecoin, Link #1: https://www.bitcoinprice.com/predictions/
  259. 2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at 30 grand or more by next Christmas [2018] - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully" u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
  260. 2018-12: 1 bitcoin = 1 Lambo. Remind me on Christmas eve [2018] u/10GDeathBoner, 3-Feb-2018, https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/dtn2pna
  261. 2018-12: Been in BTC since 2014 and experienced many "deaths" of BTC... this too shall pass... $10k end of the year. [2018] u/Exxe2502, 30-Jun-2018 https://reddit.com/Bitcoin/comments/8uur27/_/e1ioi5b/?context=1
  262. 2018-12: "Yale Alumni prediction - 30 Grand by Christmas [2018] - and you my friend... you will be the one eating Mcafee's dick in 2020. :) -:", u/SirNakamoto, 15-Jun-2018, https://www.reddit.com/Buttcoin/comments/8r0tyh/fdic_agrees_to_cover_bitcoin_losses_in_event_of/e0nzxq7
  263. 2018-12: "Impossible For Bitcoin Not to Hit $10,000 by This Year (2018)", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 22-Sep-2018, https://www.newsbtc.com/2018/09/22/billionaire-novogratz-impossible-for-bitcoin-not-to-hit-10000-by-this-yea
  264. 2018-12: "[Bitcoin] between $13,800 and $14,800 [by end of 2018]", Fundstrat's Tom Lee, 13-Dec-2018, https://www.cnbc.com/2018/12/13/wall-streets-bitcoin-bull-tom-lee-we-are-tired-of-people-asking-us-about-target-prices.html
  265. 2018-12: "Bitcoin is going to be $15k-$20k by the end of the year (2018)", Didi Taihuttu, 1-Nov-2018, https://www.wsj.com/video/series/moving-upstream/the-bitcoin-gamble/85E3A4A7-C777-4827-9A3F-B387F2AB7654
  266. 2018-12: 2018 bitcoin price prediction reduced to $15,000 [was $25,000], Fundstrat's Tom Lee, 16-Nov-2018, https://www.cnbc.com/2018/11/16/wall-streets-crypto-bull-tom-lee-slashes-year-end-forecast-by-10000.html
  267. 2018-12: "I want to be clear, bitcoin is going to $25,000 by year end (2018)", Fundstrat's Tom Lee, 5-Jul-2018, https://www.cnbc.com/video/2018/07/05/tom-lee-i-want-to-be-clear-bitcoin-is-going-to-25000-by-year-end.html
  268. 2018-12: "Bitcoin could be at $40,000 by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
  269. 2018-12: "Bitcoin will be priced around $50,000 by the end of the year (2018)", Bitcoin bull Arthur Hayes, co-founder and CEO of BitMEX, 29-Jun-2018, https://www.cnbc.com/2018/06/29/bitcoin-will-reach-50000-in-2018-says-founder-of-bitcoin-exchange.html
  270. 2018-12: "Bitcoin could definitely see $50,000 in 2018", Jeet Singh, cryptocurrency portfolio manager, speaking in January 2018 at the World Economic Forum in Davos, https://www.dcforecasts.com/new-prediction-says-bitcoin-hit-50000-2018/
  271. 2018-12: "Bitcoin will hit $100,000 this year (2018)", Kay Van-Petersen, an analyst at Saxo Bank, 17-Jan-2018, https://www.cnbc.com/2018/01/16/bitcoin-headed-to-100000-in-2018-analyst-who-forecast-2017-price-move.html
  272. 2018-12: "Bitcoin price to surpass the $100,000 mark by the end of 2018", Tone Vays, 21-Sep-2017, https://www.ccn.com/prominent-bitcoin-trader-price-is-heading-towards-100000-in-2018/
  273. 2018-12: "Bitcoin’s Price Will Surpass the $100,000 Mark by the End of 2018", Anonymous ("author" obviously too embarrassed to put his name to such bullshit "articles"), Oct-2018, https://investingpr.com/bitcoin-price-predictions-for-2018/
  274. 2018-12: "Our [2018] year-end bitcoin target is $7700.", James Stefurak, Founder at Monarch Research. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  275. 2018-12: "... we’ll see the price rally reaching its all-time of high of around $20K before the end of 2018", Khaled Khorshid, Co-Founder at Treon ICO. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  276. 2018-12: Bitcoin will end 2018 at the price point of $50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
  277. Plus a whole host of wrong 2019 predictions (could not be included here because of post character limit issues), so please see my earlier post from 4 days ago: Ummm, remember those "Expert" Bitcoin Price Predictions for 2019 ..... ohhhhh dear ....., https://www.reddit.com/Buttcoin/comments/eiqhq3/ummm_remember_those_expert_bitcoin_price/
.
But it's NOT all bad news, some claims and promises are yet to be determined:
  1. Never going below $3K again
  2. Never going below $2K again
  3. Never going below $1K again
  4. Any others ? Please let me know.
submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

With the pretty awesome rise of almost all crypto currencies, it's time to restart our machines and mine the most profitable coin today 30.01.2020!!!

So let's talk about the GPUs to start with, the ranking has radically changed and even those that were running at a loss have become profitable again The top 10 chart:
1.NVIDIA GeForce RTX 2080 Ti 4.60 Mh/s 220W $1.35 $0.55 Zcoin(XZC) MTP Algo
2.NVIDIA GeForce RTX 2080 4.00 Mh/s 190W $1.17 $0.48 Zcoin(XZC) MTP
3.AMD Radeon VII 78.00 Mh/s 230W $1.22 $0.39 EthereumClassic(ETC) Ethash Algo
4.NVIDIA GeForce GTX 1080 Ti 3.60 Mh/s 190W $1.05 $0.37 Zcoin(XZC) MTP
5.AMD Radeon RX 5700 XT 51.50 Mh/s 140W $0.81 $0.30 EthereumClassic(ETC) Ethash
6.NVIDIA GeForce RTX 2060 2.60 Mh/s 130W $0.76 $0.29 Zcoin(XZC)MTP
7.NVIDIA GeForce RTX 2070 2.80 Mh/s 150W $0.82 $0.28 Zcoin(XZC) MTP
8.NVIDIA GeForce GTX 1080 2.80 Mh/s 150W $0.82 $0.28 Zcoin(XZC) MTP
9.NVIDIA GeForce GTX 1070 Ti 2.50 Mh/s 130W $0.73 $0.26 Zcoin(XZC) MTP
10.NVIDIA GeForce GTX 1660 Ti 2.00 Mh/s 100W $0.59 $0.22 Zcoin(XZC)
Now let's go to the asic Top 10:
  1. Innosilicon A10 ETHMaster 500.00 Mh/s 750W Ethash $5.13 EthereumClassic(ETC) Ethash
  2. Bitmain Antminer Z11 135.00 kh/s 1418W Equihash $3.45 Pirate(ARRR)
  3. BlackMiner F1+ 22.00 Gh/s 860W Eaglesong $3.23 Nervos(CKB) FPGAminer
4.Bitmain Antminer B7 96.00 kh/s 528W Tensority $1.87
5.Bitmain Antminer S17+ 73.00 Th/s 2920W SHA-256 $1.67 BitcoinSV(BSV)
6.StrongU STU-U6 420.00 Gh/s 2100W X11 $1.52 Dash(DASH)
  1. Bitmain Antminer S17 Pro 56 Th/s 2212W SHA-256 $1.46 BitcoinSV(BSV)
  2. Bitmain Antminer S17 59.00 Th/s 2385W SHA-256 $1.34 BitcoinSV(BSV)
  3. Innosilicon A9 ZMaster 50.00 kh/s 620W Equihash $1.08 Pirate(ARRR)
  4. FusionSilicon X7 262.00 Gh/s 1300W X11 $1.03 Dash(DASH)
Dont forget you can find around new Firmware for example for Z9/Z11 Efudd Firmware,and Hive OS firmwares which can Overclock S9/S15/S17 or Underclock (if your electriciy fee are too expensive), for example my S17 Pro I switched to new firmware (Hive OS) to 36Th/s with 900 Watts power gives me a 2.90 usd/day profit without electricity of course, for Z11 Overclocking without changing PSU from 135 to 150-160Ko/sol.
I calculated everything on the basis of 0.15 cens Kw / h.
Brand New Miner coming out:
ASICminer Zeon Turbo 400,000 Sol/s Equihash
Most Profitable Miner in the World. ASICminer Daily Revenue: $27 $16 (less 0.15 Kw/h fee) ASICminer Power Consumption: 2500W
asicminer dot co/shop (Factory)
submitted by pushingworld77 to BitcoinMining [link] [comments]

Your Daily Moon Math - 2017-12-15

There's a new 7-day performance column today. That's going to fluctuate wildly. The results of that column are being included in the nannal calculations. The new column should make higher nannal percentages even harder to achieve. Today vs yesterday is a good example of that.
Yesterday the rates of the 7-day performance column were basically identical to the results of the 30-day column. Today, it's showing basically sideways movement. Why is that? The closing prices we're using today came in before the price action we're seeing, and we went sideways for a week.
This week seems to be behaving surprisingly like last week; as if last week was a test run for what we expect to see this week. I'm not sure how much stock I put in repeating weekly fractal patterns, but it has become self-evident that ilovebeans23 fucks:
https://www.reddit.com/BitcoinMarkets/comments/7jgnty/daily_discussion_wednesday_december_13_2017/dr7dcuq
I'm adding a regular blurb to the bottom of the moon math table because a number of people keep asking if they should buy bitcoin based on the Moon Math table or Azop's charts. The answer is no, you should not. You should learn to hunt. Then you should learn to avoid being hunted.
Good hunting.

Azop's Rainbow Charts

Moon Math Table

Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
From Date 2017-12-07 2017-11-14 2017-10-15 2017-09-15 2017-01-01 2016-01-01 2015-01-01 2014-01-01 2013-01-01 2012-01-01 2011-01-01 2010-07-18
Starting Price USD $16,501.97 $6,635.41 $5,647.31 $3,774.27 $997.73 $432.00 $312.00 $804.00 $12.50 $5.27 $0.30 $0.09
% Change 1.07% 151.36% 195.34% 341.91% 1571.68% 3760.85% 5245.80% 1974.49% 133331.14% 316387.51% 5559530.67% 18532002.22%
Doubling in months 15.0 0.7 1.3 1.4 2.8 4.4 6.2 10.8 5.7 6.1 5.3 5.1
Doubling Period in Days 455 23 38 42 85 135 188 330 174 187 161 155
Days in period 7 30 60 90 347 713 1078 1443 1808 2175 2540 2707
Compounding Daily Periodic Rate 0.1525% 3.12010% 1.82% 1.66% 0.8150% 0.45% 0.37% 0.21% 0.40% 0.37126% 0.43% 0.45%
Daily Periodic Rate 0.1532% 5.05% 3.26% 3.80% 4.53% 5.27% 4.87% 1.37% 73.75% 145.47% 2188.79% 6845.96%
Annual Rate of Investment 56% 1842% 1188% 1387% 1653% 1925% 1776% 499% 26917% 53095% 798909% 2498774%
Over $20,000.00 on 2018-04-12 2017-12-19 2017-12-23 2017-12-24 2018-01-03 2018-05-02 2018-01-30 2018-03-08 2018-01-24 2018-01-28 2018-01-20 2018-01-24
Over $25,190.00 on 2018-09-10 2017-12-26 2018-01-05 2018-01-07 2018-02-01 2018-06-22 2018-04-02 2018-06-26 2018-03-23 2018-04-01 2018-03-15 2018-03-17
Over $31,620.00 on 2019-02-06 2018-01-03 2018-01-17 2018-01-20 2018-03-01 2018-08-12 2018-06-02 2018-10-12 2018-05-19 2018-06-01 2018-05-06 2018-05-06
Over $56,230.00 on 2020-02-19 2018-01-21 2018-02-18 2018-02-24 2018-05-10 2018-12-17 2018-11-05 2019-07-13 2018-10-11 2018-11-03 2018-09-17 2018-09-12
Over $79,430.00 on 2020-10-02 2018-02-01 2018-03-09 2018-03-17 2018-06-22 2019-03-04 2019-02-07 2019-12-24 2019-01-05 2019-02-04 2018-12-06 2018-11-28
Over $100,000.00 on 2021-03-02 2018-02-08 2018-03-21 2018-03-30 2018-07-20 2019-04-24 2019-04-10 2020-04-11 2019-03-04 2019-04-07 2019-01-29 2019-01-18
Over $1,000,000.00 on 2025-04-21 2018-04-23 2018-07-26 2018-08-16 2019-04-28 2020-09-17 2020-12-23 2023-04-11 2020-10-01 2020-12-17 2020-07-16 2020-06-15
nannal 's A+ on NEVER!!!! 2018-02-17 2018-04-05 2018-04-15 2018-09-01 2019-05-23 2019-11-08 NEVER!!!! 2019-11-08 NEVER!!!! 2019-06-23 2019-05-25
The Nannaling 75.0% What the shit is this?
nannal 2020 83.3% Read about it
WARNING: Using Moon Math as a forecasting method is VERY dangerous and VERY tempting. I see no reason why we should expect to see past performance continue indefinitely. Don't make conclusion based entirely on what you see on some random post on reddit. It doesn’t matter how compelling you might find this, it's one lens among many. If this isn't already obvious to you, for the love of GOD, start learning what critical thinking is.
Also, yes, a website is coming someday.
http://moonmath.win
submitted by jarederaj to BitcoinMarkets [link] [comments]

The power of hodling (one reasonable scenario hodlers might like)

This is a long read, so bear with me, or go to the IN SUMMARY paragraph at the end. Also, the normal disclaimer: I’m not a financial professional, this is my own opinion, invest at your own risk, etc…
We all know what Stellar’s mission is, and what Stellar’s platform does best: cross-border payments, ICO’s, and its built-in exchange (SDEX, soon to be greatly improved). All of its capabilities relies on the existence of XLM’s. We all know 2 basic facts: there is a maximum supply of 100 billion XLM’s, and every transaction on the platform costs almost nothing (only 0.00001 XLM). Since the beginning, people have suggested that those 2 facts are the reason why XLM’s will continue to decrease in price, or that XLM’s will never reach a very high price in the future. The evidence so far does not support their suggestion. I have not seen a sustained drop in XLM price when it is announced that large amounts of XLM’s are to be released into the supply (for example, Stellar’s $500 million purchase of a tech firm). Instead, the the price of XLM has continued to follow the trend of Bitcoin, indicating that investors continue to consider XLM a viable alternative to Bitcoin.
Also, the maximum supply and low transaction fee was never a secret. Even the greenest newbie knows those 2 things about XLM, so I believe that those 2 features have been “baked into” the current price of XLM and won’t be as much of a factor in long-term growth as some are suggesting. This is similar to how a stock price adjusts itself to the “expected event” (whether good or bad) long before the even actually occurs.
Yes, I’m confident about XLM’s prospects. But I’m going to go further and describe a reasonably possible scenario where XLM (currently about 0.20 USD) could reach a high price in about 2 years.
My analysis, especially the price prediction of $8, involves lots of assumptions, so don’t take it too seriously, but what I have shown you is a reasonable path to explain why XLM price will increase rather than decrease in the future (and the total supply/negligible transaction fee are not roadblocks as people suggest). At the current low price of 0.20 USD, even $2 per XLM in the future is far better than most stocks or savings accounts can likely do for you in a couple of years, and Stellar is likely to still be around after many other cryptos disappear.
IN SUMMARY: According to my scenario, the more people in the world open Stellar accounts for any reason, the more Stellar accounts will be used like regular bank accounts, which leads to more sequestered XLM’s, which reduces available supply and leads to higher XLM price.
submitted by SaneObserver to Stellar [link] [comments]

US Tax Guide for Cryptocurrencies

Introduction:  
Greetings, cryptax! Tax season is upon us, and in the next couple of months, taxpayers across the US will be filing their 2017 tax returns. As a tax professional, an Enrolled Agent, and a cryptocurrency investor and enthusiast, I wanted to write up a brief guide on how your investments in cryptocurrencies are taxed in the US.
 
 
1. Are cryptocurrency realized gains taxable?
Yes. The IRS treats virtual currency (such as cryptocurrency) as property. That means if you sell BTC, ETH, or any other cryptocurrency that has appreciated in value, you have realized a capital gain and must pay taxes on this income. If you held the position for one year or less, it is a short-term capital gain which is taxed at your ordinary income tax rate. If you held the position for more than one year, it is a long-term capital gain which is taxed at your long-term capital gains tax rate. In most cases, this is 15%, but could also be 0% or 20% depending on your specific ordinary income tax bracket.
 
2. If I sell my BTC for USD on Coinbase but do not transfer the USD from Coinbase to my bank account, am I still taxed?
Yes. The only thing that matters is that you sold the BTC, which creates a taxable transaction. Whether you transfer the USD to your bank account or not does not matter.
 
3. If I use my BTC to buy another cryptocurrency (XMR for example), is this a taxable transaction?
Most likely yes. See #4 below for a more detailed explanation. If assuming crypto to crypto trades are not able to be like-kind exchanged, then continue on to the next paragraph here.
This is actually two different transactions. The first transaction is selling your BTC for USD. The second transaction is buying the XMR with your USD. You must manually calculate these amounts (or use a website such as bitcoin.tax or software to calculate it for you). For example, I buy 1 BTC for $8,000 on Coinbase. Later on, the price of 1 BTC rises to $9,000. I transfer that 1 BTC to Bittrex and use it to buy 38 XMR. I have to report a capital gain of $1,000 because of this transaction. My total cost basis for the 38 XMR I purchased is $9,000.
 
4. If I use my BTC to buy another cryptocurrency, could that be considered a tax-free like-kind exchange?
Probably not. The new tax law says that like-kind exchanges only pertain to real estate transactions. This was done with Section 13303, which replaced “property” with “real property” for all of Section 1031 (page 72 near the bottom). My personal interpretation:
In 2018 and going forward, cryptocurrencies can definitely not be like-kind exchanged.
In 2017 and before, it is a very gray area. I personally am not taking the position that they can be like-kind exchanged, because if the IRS went after a taxpayer who did this, the IRS would probably win and the taxpayer would owe taxes, interest, and probably penalties on every single little gain made from trading one cryptocurrency for another.
Here is a great interpretation of why trading cryptocurrency for cryptocurrency is probably not a like-kind transaction.
In my opinion, the biggest factor is that like-kind exchanges must be reported on Form 8824 and not just ignored. Therefore, if a taxpayer is claiming like-kind exchanges on crypto to crypto exchanges, he or she would have to fill out a Form 8824 for each individual transaction of crypto to crypto, which would be absolutely cumbersome if there are hundreds or thousands of such trades.
Another is that there has to be a Qualified Intermediary that facilitates a like-kind exchange. So, it's a more involved process, and that's why I think cryptocurrency cannot be like-kind exchanged.
Here is another article about like-kind exchanges.
Here is the American Institute of CPAs' letter to the IRS, dated June 10, 2016, asking them to release guidance on whether crypto to crypto can be like-kind exchanged or not. The IRS has not responded to the letter.
 
5. How do I calculate the realized capital gain or loss on the sale of my cryptocurrency?
The realized gain or loss is your total proceeds from the sale minus what you purchased those positions for (your cost basis). For example, you bought 1 BTC for $3,000 in June of 2017. In December of 2017, you sold that 1 BTC for $18,000. Your realized gain would be $18,000 - $3,000 = $15,000. Since you held it for one year or less, the $15,000 would be a short-term capital gain taxed at your ordinary income tax rate.
 
6. Which BTC's cost basis do I use if I have multiple purchases?
The cost basis reporting method is up to you. For example, I buy my first BTC at $3,000, a second BTC at $5,300, and a third BTC at $4,000. Later on, I sell one BTC for $8,000. I can use:
FIFO (first in first out) - cost basis would the first BTC, $3,000, which would result in a gain of $5,000.
LIFO (last in first out) - cost basis would be the third BTC, $4,000, which would result in a gain of $4,000.
Average cost - cost basis would be the average of the three BTC, $4,100, which would result in a gain of $3,900.
Specific identification - I can choose which coin's cost basis to use. For example, I can choose the second BTC's cost basis, $5,300, which would result in the lowest capital gains possible of $2,700.
The IRS has not given any guidance on cost basis accounting methods for cryptocurrency, but I am taking the position that any method can be used, and that you can change your method at any time as you please (e.g. FIFO for one year, LIFO for another. Or, FIFO for the sale of a specific lot, then LIFO for the sale of another lot on the same day).
 
7. If I end up with a net capital loss, can I claim this on my tax return?
Capital gains and capital losses are netted on your tax return. If the net result of this is a capital loss, you may offset it against ordinary income on your tax return, but only at a maximum of $3,000 per year. The remaining losses are carried forward until you use them up.
 
8. What is the tax rate on my capital gains?
If long-term, the tax rate is 0%, 15%, or 20%, depending on your ordinary income tax bracket. If short-term, the tax bracket you’ll be in will depend on your total income and deductions. The ordinary income tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% in 2017 and 10%, 12%, 22%, 24%, 32%, 35%, and 37% in 2018 and going forward.
Here are the 2017 and 2018 ordinary income tax brackets.
Here are the 2017 and 2018 long-term capital gains tax brackets.
Here is a detailed article on how the calculation of long-term capital gains tax work and how you can take advantage of the 0% long-term capital gains rate, if applicable.
 
9. If I mine BTC or any other cryptocurrency, is this taxable?
Yes. IRS Notice 2014-21 states that mining cryptocurrency is taxable. For example, if you mined $8,000 worth of BTC in 2017, you must report $8,000 of ordinary income on your 2017 tax return. For many taxpayers, this will be reported on your Schedule C, and you will most likely owe self-employment taxes on this income as well. The $8,000 becomes the cost basis in your BTC position.
 
10. How do I calculate income for the cryptocurrency I mined?
This is the approach I would take. Say I mined 0.01 BTC on December 31, 2017. I would look up the daily historical prices for BTC and average the high and low prices for BTC on December 31, 2017, which is ($14,377.40 + $12,755.60) / 2 = $13,566.50. I would report $13,566.50 * 0.01 = $135.67 of income on my tax return. This would also be the cost basis of the 0.01 BTC I mined.
 
11. Can I deduct mining expenses on my tax return?
If you are reporting the income from mining on Schedule C, then you can deduct expenses on Schedule C as well. You can deduct the portion of your electricity costs allocated to mining, and then you depreciate the cost of your mining rig over time (probably over five years). Section 179 also allows for the full deduction of the cost of certain equipment in year 1, so you could choose to do that if you wanted to instead.
 
12. If I receive BTC or other cryptocurrency as a payment for my business, is this taxable?
Yes. Similar to mining, your income would be what the value of the coins you received was. This would also be your cost basis in the coins.
 
13. If I received Bitcoin Cash as a result of the hard fork on August 1, 2017, is this taxable?
Most likely yes. For example, if you owned 1 Bitcoin and received 1 Bitcoin Cash on August 1, 2017 as a result of the hard fork, your income would be the value of 1 Bitcoin Cash on that date. Bitcoin.tax uses a value of $277. This value would also be your cost basis in the position. Any other hard forks would probably be treated similarly. Airdrops may be treated similarly as well, in the IRS' view.
Here are a couple more good articles about reporting the Bitcoin Cash fork as taxable ordinary income. The second one goes into depth and cites a US Supreme Court decision as precedent: one, two
 
14. If I use BTC or other cryptocurrency to purchase goods or services, is this a taxable transaction?
Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency.
 
15. Are cryptocurrencies subject to the wash sale rule?
Probably not. Section 1091 only applies to stock or securities. Cryptocurrencies are not classified as stocks or securities. Therefore, you could sell your BTC at a loss, repurchase it immediately, and still realize this loss on your tax return, whereas you cannot do the same with a stock. Please see this link for more information.
 
16. What if I hold cryptocurrency on an exchange based outside of the US?
There are two separate foreign account reporting requirements: FBAR and FATCA.
A FBAR must be filed if you held more than $10,000 on an exchange based outside of the US at any point during the tax year.
A Form 8938 (FATCA) must be filed if you held more than $75,000 on an exchange based outside of the US at any point during the tax year, or more than $50,000 on the last day of the tax year.
The penalties are severe for not filing these two forms if you are required to. Please see the second half of this post for more information on foreign account reporting.
 
17. What are the tax implications of gifting cryptocurrency?
Small gifts of cryptocurrency do not have a tax implication for the gift giver or for the recipient. The recipient would retain the gift giver's old cost basis, so it could be a good idea for the gift giver to provide records of the original cost basis to the recipient as well (or else the recipient would have to assume a cost basis of $0 if the recipient ever sells the cryptocurrency).
Large gifts of cryptocurrency could start having gift and estate tax implications on the giver if the value exceeds more than $14,000 (in 2017) or $15,000 (in 2018) per year per recipient.
Here's a good article on Investopedia on this issue.
An important exception applies if the gift giver gives cryptocurrency that has a cost basis that is higher than the market value at the time of the gift. Please see the middle of this post for more information on that.
 
18. Where can I learn even more about cryptocurrency taxation?
Unchained Podcast: The Tax Rules That Have Crypto Users Aghast
IRS Notice 2014-21
Great reddit post from tax attorney Tyson Cross from 2014
 
19. Are there any websites that you recommend in helping me with all of this?
Yes - I have used bitcoin.tax and highly recommend it. You can import directly from an exchange to the website using API, and/or export a .csv/excel file from the exchange and import it into the website. The exchanges I successfully imported from were Coinbase, GDAX, Bittrex, and Binance. The result is a .csv or other file that you can import into your tax software.
I have also heard good things about cointracking.info but have not personally used it myself.
 
20. If I move my BTC from one exchange to another, or into a hard wallet, is this a taxable event?
No - you are not selling anything, so no gains are realized.
 
21. Where do I report cryptocurrency sales on my tax return?
The summary of your sales would reported on Schedule D on line 3 and/or line 10 depending on short-term or long-term. Supplemental Form 8949 must also be included with Box C or Box F checked depending on short-term or long-term. Form 8949 is where you must list each individual sale.
 
22. If coins become lost or inaccessible (e.g. lost or forgotten passphrase or thrown away hard drive), can I claim that as a loss? What about coins that have gotten stolen? What about losing money in investment or ICO scams (e.g. Bitconnect or Confido)?
These are really tricky questions. Unfortunately, the potential to claim such a loss against ordinary income is very low, especially with the new tax law. At the very least, capital losses can be claimed, but the deduction is capped at $3,000 per year against ordinary income with the rest carrying forward indefinitely.
The new tax law changed the casualty and theft loss to only apply to presidential disaster areas, so at least in the case of a loss passphrase, I think the answer is no for 2018 and going forward. For 2017, the answer is possibly yes. Here is an article on the subject if you are interested in reading more.
 
23. Taxation is theft!
Sorry, I can't help you there.
 
 
That is the summary I have for now. There have been a lot of excellent cryptocurrency tax guides on reddit, such as this one and this one, but I wanted to post my guide on cryptax which hopefully answers some of the questions you all may have about US taxation of cryptocurrencies. Please let me know if you have any more questions, and I’d be happy to answer them to the best of my ability. Thank you!
Regarding edits: I may make many edits to my post after I originally post it. Please refresh to see the latest edits to my guide. Thank you.
 
Disclaimer:
The information contained within this post is provided for informational purposes only and is not intended to substitute for obtaining tax, accounting, or financial advice from a professional.
Any U.S. federal tax advice contained in this post is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an advisor-client relationship. Internet users are advised not to act upon this information without seeking the service of a tax professional.
submitted by Nubboi to cryptax [link] [comments]

Cryptocurrencies are largely red as study finds 400% increase in demand for blockchain engineers

Crypto News



Sources:
https://cointelegraph.com/news/russia-new-version-of-crypto-bill-will-let-privately-held-firms-digitize-shares https://cointelegraph.com/news/demand-for-blockchain-engineers-has-grown-400-since-end-of-2017-report-says https://www.coindesk.com/bitmains-latest-bitcoin-miner-update-activates-controversial-asicboost/ https://www.ccn.com/experts-fidelity-could-single-handedly-solidify-crypto-as-new-asset-class/ https://www.newsbtc.com/2018/10/22/binance-ceo-what-happens-if-fidelity-allocates-5-of-its-portfolio-in-crypto/ https://cointelegraph.com/news/australia-50-million-ico-shuts-down-in-accordance-with-regulatory-requirements https://www.coindesk.com/australia-securities-watchdog-halts-ico-seeking-to-raise-50-million/ https://cointelegraph.com/news/uk-mp-to-advise-crypto-exchange-on-govt-relations-says-steep-learning-curve-ahead https://cointelegraph.com/news/visa-set-to-launch-blockchain-based-digital-identity-system-with-ibm-in-q1-2019 https://www.ccn.com/visa-integrates-open-source-hyperledger-tech-for-b2b-blockchain-payments/
submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

[H] $150 Amazon GC [W] Bitcoin, PayPal

Rule 5 approval to sell over $100 is below
Read the full post below before PMing me please
Note: I have multiple $15's and $30's, not one big code. PM me what you want.
I regularly sell Amazon.com Gift Card claim codes for ~ 87% of their value
I have over 65 completed trades since September 2016
I get these codes frequently from my online customers as it's one of my payment options
I can currently accept Bitcoin and PayPal
I do not accept PayPal from GCX Beginner flairs
Edit: I accept Bitcoin from everyone
My GCX Rep Profile
You must comment on my post before PMing me for a trade.
My only Bitcoin address ends with "fox".
My PayPal email address starts with "ant".
I have traded a total of $3,010.00 usd of Amazon Gift Card as of Friday, December 17, 2016
I strive for fast, friendly, professional, detailed trades.
Have multiple $15 and $30 codes as always
Total amount, not one code
Rate calculator:
$15 of Amazon Gift Card = $13.00 usd
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Subreddit Stats: btc top posts from 2018-04-20 to 2018-05-20 06:58 PDT

Period: 29.85 days
Submissions Comments
Total 1000 53623
Rate (per day) 33.50 1780.26
Unique Redditors 466 5134
Combined Score 118969 219877

Top Submitters' Top Submissions

  1. 7839 points, 57 submissions: MemoryDealers
    1. If all the 32MB blocks were permanently 100% full, this $400 hard drive could store the blockchain for the next 7 years. (373 points, 352 comments)
    2. The people behind Bitcoin Cash are the ones who created Bitcoin's network effect in the first place. (357 points, 123 comments)
    3. Bitcoin subscribers are now calling for people to report Bitcoin.com to the Internet Crime Complaint Center of the FBI. It's sad that BTC supporters all seem to be statists who yell about hodling their muh store of value all day. (348 points, 288 comments)
    4. I have more emails saved on my computer than the entire BTC or BCH block chains. (319 points, 131 comments)
    5. Bitcoin.com is now sponsoring pro female MMA athletes. (293 points, 121 comments)
    6. CoinGeek will support Bitcoin.com in lawsuit over the real Bitcoin - Coingeek (273 points, 354 comments)
    7. Bitcoin Cash is now on iOS in the world’s most popular crypto wallet. #winning (257 points, 131 comments)
    8. "The vast majority of mining hash power was controlled by people who were psychologically incapable of disobedience to perceived authority." -Mike Hearn (250 points, 194 comments)
    9. "BTC True Believers" Are Boycotting the First National Talk Radio Show that ever Discussed Bitcoin because they accept BCH payments. (245 points, 116 comments)
    10. All I keep hearing is that Bitcoin Cash is an infested cesspool of lawless, leaderless, disrespectful, narcissistic, greedy, scammy, capitalistic anarchists that will never create digital money! I swear I’m getting dejavu! (225 points, 46 comments)
  2. 3965 points, 19 submissions: hunk_quark
    1. Warren Buffet's Berkshire is the single largest stockholder in BoA and WellsFargo. In case you were wondering about his attitude towards Bitcoin. (614 points, 114 comments)
    2. Purse.io is paying its employees in Bitcoin Cash. (447 points, 63 comments)
    3. Shoutout to Kraken for standing up to NY Attorney General. If Schneiderman wants transparency and accountability he should be looking into auditing the fed. (406 points, 28 comments)
    4. Bitcoin is rat poison. The bankers are the rats. (404 points, 56 comments)
    5. Forbes Author Frances Coppola takes blockstream to task. (364 points, 35 comments)
    6. Purse CEO Andrew Lee confirms they are paying employees in BCH and native BCH integration update will be coming soon! (343 points, 43 comments)
    7. PSA: So called 'low-fee' cryptocurrency Litecoin has transaction fees 20x higher than Bitcoin Cash (264 points, 80 comments)
    8. After today's BCH Upgrade, longer posts are now enabled on memo.cash! (250 points, 31 comments)
    9. Jeffrey Tucker is promoting bitcoin.com at Atlanta Bitcoin Embassy. (195 points, 57 comments)
    10. Anti-Bitcoiners, life comes at you fast! (109 points, 26 comments)
  3. 3846 points, 30 submissions: Kain_niaK
    1. Bitcoin Cash has not only removed the cap on transactions but also the cap on development. Something new pops up every time I blink. (368 points, 162 comments)
    2. I am getting flashbacks from when I tried to close my Bank of America account ... (353 points, 155 comments)
    3. Fucking /bitcoin assholes reported my twitter account and now I need to verify with a phone number before I can continue with twitter. (325 points, 218 comments)
    4. Paul Wasensteiner: When is @Twitter going to fix the abuse of the report button by @bitcoincoreorg supporters? Why are supporters of a supposedly censorship-resistant money using censorship at every opportunity? (295 points, 106 comments)
    5. We should pirate the entire piratebay.org website and all it's functionality directly on to the Bitcoin Cash blockchain. The piratebay.org is just magnet links and comments. Then they will say bcash stole our business ... (232 points, 439 comments)
    6. Fees higher than a dollar cent or waiting times longer than a couple of seconds defeat the entire purpose of why Bitcoin was invented. (218 points, 164 comments)
    7. moneybutton.com is a configurable client-side Bitcoin Cash (BCH) wallet in an iframe. When the user makes a payment, a webhook URL is called allowing your app to respond to the payment, such as displaying content behind a pay wall. (189 points, 37 comments)
    8. We proudly present BCHpizza.org! Now the community can create city bounties for pizza shops to incentivize them to accept Bitcoin Cash. First pizza shop in a city to do so gets the bounty! (177 points, 117 comments)
    9. Bitcoin Cash can turn in to the biggest non violent protest against the establishment ever : "We simply stop using their money." Which is a great way of getting edgy teenagers to join us. There is an almost infinite supply of edgy teenagers in the world. (156 points, 42 comments)
    10. We need testers for the Cash Shuffle plugin. (121 points, 17 comments)
  4. 3666 points, 28 submissions: Windowly
    1. "Billion-dollar corporations take note: Bitcoin Cash is open for business! Just try to fill up our blocks, I dare you. There will be no "Fidelity Effect" with BCH. Unlike BTC, we want you to use the Blockchain. BCH never really hits a scale ceiling."~Dr. Peter Rizun (415 points, 177 comments)
    2. "In a discussion group of BCH, lots of investors concerned about the address confusing problem. BCH community should push every software of ecosystem to upgrade to Cashaddr ASAP."~Jihan Wu (366 points, 215 comments)
    3. "Maybe the best way to bring economic freedom to the world is to make an uncensorable Twitter."~Ryan X. Charles (300 points, 114 comments)
    4. Newbie tip! Do yourself a favor, get a Protonmail email account and switch all your crypto exchanges to that email. No reason Google/Gmail need to have your entire crypto history at their fingertips. (299 points, 133 comments)
    5. "On the 15th of May, I'll be popping the champagne, not to celebrate high fees, but to celebrate continued low fees, privacy enablements, smart contract capabilities, and PayPal level throughput capability."~Eli Afram (233 points, 46 comments)
    6. 24% of the trading on GDAX in the last 24 hours was for Bitcoin Cash (BCH)! 😊💃 (185 points, 16 comments)
    7. Yeah!! "We are pleased to announce that the new Bitcoin Cash address format has been implemented on QuadrigaCX. This will help our users to easily distinguish Bitcoin and Bitcoin Cash addresses when funding/withdrawing their account. The BCH legacy addresses will still be supported." (165 points, 8 comments)
    8. ANNOUNCE: Coinbase has blocked the official @WikiLeaks shop from its platform without notice or explanation. You can continue to donate #Bitcoin to WikiLeaks at https://WikiLeaks.org/donate . (164 points, 55 comments)
    9. There is a Bitcoin Unlimited election today. (BU is one of the 6+ development teams that develop clients for Bitcoin Cash (BCH). BU has a unique governance system where developers are not king. . instead members vote on proposals. If you are a member, please vote! (161 points, 29 comments)
    10. Bitpay Adds Bitcoin Cash Support to Checkout Point-of-Sale App - Bitcoin News (151 points, 22 comments)
  5. 2565 points, 15 submissions: BitcoinXio
    1. Bitcoin Cash is upgrading on May 15 to 32MB max block limit (575 points, 335 comments)
    2. Frances Coppola on Twitter: “Congratulations, Blockstream, you have just reinvented the interbank lending market.” (411 points, 139 comments)
    3. Once again Core supporters threaten with lawsuits and government intervention to try to get their way. This is just pathetic and not the foundations of what Bitcoin was built on. These are not bitcoiners. (299 points, 355 comments)
    4. Get ready - Bitcoin Cash is upgrading on May 15th! (198 points, 132 comments)
    5. CobraBitcoin: "Lightning is cool, but nobody should be recommending it to actual merchants for at least the next few years. Merchants like Steam already got hurt by adopting Bitcoin and regretting it later. Lightning needs time to mature and prove itself. Mad hype to rush adoption will harm it." (157 points, 58 comments)
    6. Blockchain on Twitter: “What's that you see? It's all your BCH that now appears in your #ios wallet. Take control of your financial future and #beyourownbank today.” (138 points, 20 comments)
    7. We are living in the digital age of information, which is why censorship has become such an important issue [...] That’s why I’m excited about decentralized social networks built on top of Bitcoin Cash like @BlockPressApp & @memobch. They are new so need work, but the path is being paved. (131 points, 31 comments)
    8. BlockPress published its protocol (123 points, 22 comments)
    9. We have a new alternative public mod logs (96 points, 35 comments)
    10. If Bitcoin Core (BTC) is no longer usable by many people in the world due to being out priced (high tx fees), is it still “borderless”? I’d argue that it’s no longer borderless if people all over the world are excluded from the network. (95 points, 34 comments)
  6. 2030 points, 11 submissions: tralxz
    1. Breaking News: Winklevoss Brothers Bitcoin Exchange Adds Bitcoin Cash support! (508 points, 115 comments)
    2. Jihan Wu was asked "Why are the miners still supporting Bitcoin Core? Is it just a short term profitability play?", he answered: "Yes, exactly." (279 points, 215 comments)
    3. Cobra:"That feeling when Blockstream, [...] release Liquid, a completely centralized sidechain run only by trusted nodes and designed for banks, financial institutions and exchanges." (245 points, 145 comments)
    4. LibreOffice Foundation accepts Bitcoin Cash donations. (191 points, 11 comments)
    5. Breaking News! Vin Armani: "Major mining pools have agreed to establish a treasury and start funding $BCH development from their block rewards. HUGE!!!" (186 points, 80 comments)
    6. CNBC's Fast Money: Ran NeuNer says he would HODL Bitcoin Cash and sell Bitcoin Core. (172 points, 59 comments)
    7. Jihan Wu on Bloomberg predicting Bitcoin Cash at $100,000 USD in 5 years. (172 points, 65 comments)
    8. Let's start the Bitcoin Cash upgrade party. New era for BCH is coming May 15. Privacy tools + smart contracts + PayPal capacity handling. Exciting times ahead! (106 points, 37 comments)
    9. Coindesk: "Florida Tax Collector to Accept Bitcoin, Bitcoin Cash Payments" (60 points, 8 comments)
    10. Adam B.: "Bitcoin is not a democracy". The authoritarian moves by Core makes perfect sense now. (59 points, 46 comments)
  7. 1485 points, 12 submissions: jonald_fyookball
    1. BTCers fundraise for frivolous lawsuit. BCH fundraises to feed Venezuelans. (233 points, 58 comments)
    2. bitcoin admits: best way to use Lightning Network: don't use it. (189 points, 286 comments)
    3. Electron Cash 3.2 is available. Includes new op-codes and fixes for Ledger hardware wallet (180 points, 50 comments)
    4. If you have to call it bcash you've already lost the argument (164 points, 257 comments)
    5. Cash Shuffle plugin 0.2 - Cash Shuffle development continues (131 points, 37 comments)
    6. Claims that BCH is a "centralized coin" are exaggerations at best. (114 points, 83 comments)
    7. (shitpost) philosoraptor meme: if honeybadger don't care... (106 points, 22 comments)
    8. BCH being a minority chain may be a blessing in disguise (97 points, 83 comments)
    9. Another reason to be bullish on BCH (92 points, 18 comments)
    10. BCHpizza already has 4 bounties posted. It's also no longer needed to sign a message to post a bounty. (89 points, 21 comments)
  8. 1393 points, 8 submissions: rdar1999
    1. Naomi Brockwell on Twitter: "[I] won’t succumb to censorship through intimidation." (332 points, 190 comments)
    2. Consensus 2018 sucked hard. Superficial talks, ridiculous ticket price, overcrowded venue. (233 points, 78 comments)
    3. ==> Becash or Begone: reclaiming the "bcash" trolling (213 points, 107 comments)
    4. See in this twitter thread Luke Jr actually arguing that PayPal is cheaper than BCH!! Is this guy in full delirium? Or just spouts misinformation on purpose? (172 points, 227 comments)
    5. ///\ BTC-BCH persists as the most popular trade on ShapeShift.io /// (171 points, 20 comments)
    6. The retard tribalism is so real. SBI japan's financial giant says they will launch a platform with BCH as settlement coin (due to BTC being bad) and XRP as remittances. I provide the link and cryptocurrency shills deny plain literally declared fact. (124 points, 50 comments)
    7. Chris DeRose on Twitter: "So if Roger ver wins the class action lawsuit, I assume that Bitcoin cash can then rightfully sue Bitcoin core proponents for fraud?" (92 points, 61 comments)
    8. Upgrade completed at height 530356! (56 points, 2 comments)
  9. 1377 points, 12 submissions: Egon_1
    1. Genesis Mining:"We are more than happy to announce that Bitcoin Cash is now available as a Native Mining option for all Bitcoin (Sha256) contracts!" (287 points, 22 comments)
    2. Jihan Wu on BCH Lighthouse:”This project was abandoned on BTC Blockchain long time ago, it is very excited to see it is alive again on BCH Blockchain. It can be very huge.” (278 points, 50 comments)
    3. Yahoo Finance: "Bitcoin Goes Lateral as Bitcoin Cash Steals the Show… AGAIN" (189 points, 46 comments)
    4. "Bitcoin Cash is actually more interesting ..." (119 points, 15 comments)
    5. Jeff Garzik:"Just got an earful from a Chicago cabbie, on $LTC He was very grumpy at @SatoshiLite selling, saying it indicated a lack of founder's confidence in his own creation. #StreetCrypto" (100 points, 8 comments)
    6. “Why don't we start saying: "Bitcoin is Cash" It's much harder to refute than "Bitcoin Cash IS Bitcoin"“ (75 points, 49 comments)
    7. "Because Bitcoin Cash is effectively Bitcoin ✌️ (72 points, 22 comments)
    8. Bye Bye P2P Electronic Cash ... (68 points, 88 comments)
    9. Bitcoin.com Wallet needs more useful services integrated... beyond Shapeshift (59 points, 24 comments)
    10. BCH keeps bitcoins minions busy (48 points, 28 comments)
  10. 1291 points, 9 submissions: increaseblocks
    1. Vitalik Buterin says what we've all been saying - CoinDesk is scammy and complicit bad actor in the cryptocurrency world and should be shunned (510 points, 61 comments)
    2. Bitcoin Wallet Mycelium Begins Rolling Out Bitcoin Cash BCH Support (163 points, 39 comments)
    3. Cheddr is a Bitcoin Cash Point Of Sale system that runs in most modern browsers - no server infrastructure required (137 points, 31 comments)
    4. Leaked Telegram chat shows bitcoin.com "fraud" lawsuit was abandoned due to lack of support 😂😂😂 (135 points, 32 comments)
    5. Toshi to expand beyond Ethereum - will add Bitcoin Cash (91 points, 7 comments)
    6. Litecoin transaction fees 20 times higher than Bitcoin Cash (85 points, 44 comments)
    7. DAMN BCH! (68 points, 25 comments)
    8. In honor of the Bitcoin Cash successful upgrade and now we have the true lightning network. I present to you lightningnetwork.cash! (58 points, 22 comments)
    9. Bcore shills are crying right now 😭😭😂😂 (44 points, 10 comments)
  11. 1202 points, 9 submissions: SharkLaserrrrr
    1. Memo is now open source! (361 points, 160 comments)
    2. Based on @BitcoinCashFund report, preliminary calculation: Total spent: $153,138.49 Total spent on Salaries and Travel: $101,996.79 ~66% of donations is spent on themselves, charities/non-profits (official registered ones) limit themselves to less than 10% (161 points, 181 comments)
    3. [PREVIEW] Looks like Lighthouse powered by Bitcoin Cash is coming together nicely thanks to the hard work of an anonymous developer. I wonder how Mike Hearn feels about his project being resurrected. (159 points, 24 comments)
    4. We heard you want a Bitcoin Cash exclusive wallet that uses ‘bits’ and enables you to buy anything online and pay with Bitcoin Cash so we are building one #cashpay #CryptonizeYourPurchases (137 points, 77 comments)
    5. Bitcoin Cash is the real Bitcoin experience. If you have any doubts, go buy something on cryptonize.it, then buy something off a Lightning store and compare what you had to go through to pay for your order. (103 points, 51 comments)
    6. As of today, cryptonize.it shows prices in Bitcoin Cash next to fiat! (81 points, 9 comments)
    7. Incompatible protocols gave us the ’90s web which was not a pretty sight. Let’s not repeat the same mistakes when building censorship resisted social media powered by Bitcoin Cash. Support @MemoBCH protocol. (72 points, 57 comments)
    8. To help developers raise funds, cryptonize.it is sponsoring a Lighthouse server and website so useful projects can be funded by the community directly. (66 points, 7 comments)
    9. $25,- Amazon gift cards back in store, 0-conf. instant delivery, the real bitcoin experience (62 points, 18 comments)
  12. 1189 points, 1 submission: ocist1121
    1. No spend (1189 points, 87 comments)
  13. 1148 points, 6 submissions: BeijingBitcoins
    1. Three years ago today, Mike Hearn published an article explaining exactly what would happen when the 1MB blocksize limit was hit. He was right on all counts. (473 points, 173 comments)
    2. An easy way to visualize the August 1st Hard Fork. Neither of the two branches resulting from a fork can be called "the original road," but only one branch continues towards the same destination. (163 points, 140 comments)
    3. Bitcoin Core fanatics are trying to organize a lawsuit against Bitcoin.com for using the term "Bitcoin (BCH)", while they run around all day labelling it "Bcash" (157 points, 167 comments)
    4. "Bitcoin Cash won't "fork" in May. Instead, Bitcoin Cash will just upgrade." (123 points, 53 comments)
    5. Just launched: Satoshi Pulse, by Bitcoin.com (121 points, 44 comments)
    6. Ryan Charles delivers an epic rant about Lightning Network problems (111 points, 19 comments)
  14. 1085 points, 10 submissions: unitedstatian
    1. Reminder: Blockstream plans to make money from the proprietary solutions it sells, which is why it moved away from the free permissionless blockchain to an abstracted layer on top which requires 3rd party solutions to be cost effective for most users. (220 points, 146 comments)
    2. It seems there's been a massive propaganda campaign to brainwash people into thinking hardforks are bad. (180 points, 56 comments)
    3. BCH could really be missing the new big use case. Gamers would love to have real ownership of game items. The first game which will integrate a digital coin and make it popular will be groundbreaking. (141 points, 76 comments)
    4. The guy had 350 bucks received via Lightning Network but he can't even close the channels to actually withdraw the bitcoins. (139 points, 188 comments)
    5. What gives Core the right to change the model so drastically and still keep the brand name? (119 points, 117 comments)
    6. One of the most ignorant - even anti-crypto - argument I hear around is that BCH is a currency controlled by Chinese miners. (88 points, 74 comments)
    7. The first megabytes are far more crucial than the 100th. Not every MB was born equal and by giving up on adoption for years Core may have given up on adoption forever. (69 points, 20 comments)
    8. In light of the recent ERC-20 bug I think this is a good time to remember these wise words (54 points, 25 comments)
    9. If BCH had decent privacy features it'd gain so much more market share. It's hard to compete with privacy-always-on coins such as XMR but many more coins offer moderate privacy and would be easy to beat. (42 points, 31 comments)
    10. If Memo taught me one thing it's the more uses around the coin the better - can BCH be adopted to help fight counterfeiting? (33 points, 4 comments)
  15. 1055 points, 5 submissions: ForkiusMaximus
    1. MortuusBestia hits on a pitch-perfect way of looking at BCH's value proposition in epic comment on /BitcoinMarkets (604 points, 109 comments)
    2. I am excited that BCH is being irrationally criticized, because it reminds me of 2011 and 2012 when Bitcoin was being irrationally criticized. Any of 2013, when the price rose 100x. (183 points, 82 comments)
    3. Japanese tweeter makes a good point about BTC: "You don't call it an asset if it crumbles away every time you go to use it. You call it a consumable." (144 points, 21 comments)
    4. Jimmy Nguyen: Bitcoin Cash can function for higher level technical programming (80 points, 3 comments)
    5. How NOT to tell which is "the real Bitcoin" (44 points, 15 comments)
  16. 1032 points, 6 submissions: theantnest
    1. Let's start a class action lawsuit against Canada for calling their currency the dollar. I accidentally bought CAD when I wanted USD, and didn't know I could just exchange it again. (511 points, 243 comments)
    2. BTC noobs conned into being concerned about node count to distract them from the real centralization problem: (137 points, 172 comments)
    3. Any real scientist interested in Bitcoin should be happy Bitcoin Cash exists. (110 points, 40 comments)
    4. Blockstream shill admits to exaggerating and slandering Roger purely because he doesn't support BTC. (103 points, 49 comments)
    5. Cognitive Dissonance: It's totally fine to call BCH 'bcash', but it's fraudulent to call it Bitcoin? (93 points, 51 comments)
    6. Be Cash! (78 points, 45 comments)
  17. 1029 points, 7 submissions: zhell_
    1. MEMO NOW SUPPORTS REPLIES, join the Party now ! (208 points, 50 comments)
    2. memo.cash has been generating 2000 tx/day since its start, which is near 10% of all transactions on the BCH network. (201 points, 73 comments)
    3. "Money comes from being the most tradable of all commodities" Austrian Economics (189 points, 104 comments)
    4. Fiat is crashing: Inflation in the US averages at 10%/year in the past 5 years when measured as the price of the top 500 items on which Americans spend their after-tax dollars. (183 points, 49 comments)
    5. Memo.cash breaks a record with 3000 on-chain actions in the last 24h after implementing replies (143 points, 25 comments)
    6. with 2k tx/day, memo.cash is only using ~0.09% of 8MB blocks capacity currently on the BCH network (that would be 0.02% of 32MB blocks) (69 points, 3 comments)
    7. Help! I bought what I thought was Bitcoin and it is now gone! /s (36 points, 8 comments)
  18. 1020 points, 4 submissions: Anenome5
    1. Let's End the War and focus on the TRUE ENEMY (719 points, 349 comments)
    2. Satoshi's original whitepaper talks about "Reclaiming Disk Space" by pruning transactions, what's being done on this front? Core-trolls say we don't need to store forever that you bought a coffee, and that's true, and Satoshi also proposed how to fix that long ago. (200 points, 166 comments)
    3. Core'er says $50 fees "a wtf moment for everyone" but doubts it will ever happen again. Seems they're in for a surprise, BTC is still extremely vulnerable to transaction-fee price-inflation due to low capacity. BTC transaction fees currently 19+ times higher than BCH. (65 points, 30 comments)
    4. Bitcoin Cash, the early years... [OC] (36 points, 16 comments)

Top Commenters

  1. jessquit (3904 points, 368 comments)
  2. Kain_niaK (3058 points, 684 comments)
  3. bambarasta (2674 points, 360 comments)
  4. H0dl (2352 points, 464 comments)
  5. rdar1999 (2352 points, 404 comments)
  6. BitttBurger (2301 points, 313 comments)
  7. Adrian-X (2118 points, 506 comments)
  8. MemoryDealers (2084 points, 102 comments)
  9. trolldetectr (2073 points, 502 comments)
  10. LexGrom (2055 points, 709 comments)
  11. Ant-n (1834 points, 334 comments)
  12. LovelyDay (1820 points, 468 comments)
  13. jimbtc (1734 points, 212 comments)
  14. fruitsofknowledge (1618 points, 469 comments)
  15. ForkiusMaximus (1612 points, 211 comments)
  16. unstoppable-cash (1537 points, 201 comments)
  17. unitedstatian (1485 points, 388 comments)
  18. jonald_fyookball (1481 points, 142 comments)
  19. Bitcoinopoly (1471 points, 175 comments)
  20. BeijingBitcoins (1430 points, 100 comments)
  21. KoKansei (1330 points, 84 comments)
  22. MobTwo (1309 points, 93 comments)
  23. btcnewsupdates (1263 points, 153 comments)
  24. lubokkanev (1252 points, 298 comments)
  25. BitcoinXio (1251 points, 76 comments)
  26. taipalag (1248 points, 250 comments)
  27. mrtest001 (1075 points, 271 comments)
  28. LuxuriousThrowAway (1072 points, 163 comments)
  29. MarchewkaCzerwona (1046 points, 119 comments)
  30. cbeaks (985 points, 175 comments)
  31. SharkLaserrrrr (976 points, 135 comments)
  32. tippr (974 points, 523 comments)
  33. knight222 (963 points, 132 comments)
  34. PsyRev_ (941 points, 189 comments)
  35. radmege (919 points, 62 comments)
  36. Anenome5 (914 points, 182 comments)
  37. Churn (886 points, 75 comments)
  38. 324JL (855 points, 200 comments)
  39. emergent_reasons (854 points, 143 comments)
  40. TiagoTiagoT (841 points, 320 comments)
  41. bahkins313 (831 points, 121 comments)
  42. silverjustice (825 points, 62 comments)
  43. cryptorebel (812 points, 148 comments)
  44. scotty321 (811 points, 121 comments)
  45. DaSpawn (808 points, 113 comments)
  46. homopit (795 points, 100 comments)
  47. AcerbLogic (786 points, 205 comments)
  48. normal_rc (777 points, 59 comments)
  49. fiah84 (774 points, 136 comments)
  50. Deadbeat1000 (753 points, 61 comments)

Top Submissions

  1. No spend by ocist1121 (1189 points, 87 comments)
  2. 1 For whoever questions the utility of Bitcoin, here's banking summarized accurately by rlibec (783 points, 163 comments)
  3. Let's End the War and focus on the TRUE ENEMY by Anenome5 (719 points, 349 comments)
  4. Am I the only one that doesn't mind Bitcoin Cash being called "Bitcoin Cash" instead of just "Bitcoin" (for now)? by d3on (672 points, 401 comments)
  5. Warren Buffet's Berkshire is the single largest stockholder in BoA and WellsFargo. In case you were wondering about his attitude towards Bitcoin. by hunk_quark (614 points, 114 comments)
  6. MortuusBestia hits on a pitch-perfect way of looking at BCH's value proposition in epic comment on /BitcoinMarkets by ForkiusMaximus (604 points, 109 comments)
  7. coincall.io labels BCH a "shitcoin" by groovymash (586 points, 329 comments)
  8. Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.” by sumsaph (585 points, 547 comments)
  9. Can’t believe this was available. My new license plate.. by VanquishAudio (581 points, 113 comments)
  10. Bitcoin Cash is upgrading on May 15 to 32MB max block limit by BitcoinXio (575 points, 335 comments)

Top Comments

  1. 322 points: rdar1999's comment in My dog ate my TREZOR. Check your recovery seeds folks!
  2. 314 points: my_next_account's comment in Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.”
  3. 259 points: everyother's comment in 1 For whoever questions the utility of Bitcoin, here's banking summarized accurately
  4. 225 points: morli's comment in Can’t believe this was available. My new license plate..
  5. 209 points: groovymash's comment in coincall.io labels BCH a "shitcoin"
  6. 206 points: insanityzwolf's comment in Am I the only one that doesn't mind Bitcoin Cash being called "Bitcoin Cash" instead of just "Bitcoin" (for now)?
  7. 183 points: BitttBurger's comment in MoneyTrigz fails to raise more than $3,700 for Bitcoin.com lawsuit. Considers pulling the plug.
  8. 182 points: patrick99e99's comment in I used to think BCH was the bad guy, now I'm beginning to change the way I see it... Convince me that BCH is the real Bitcoin
  9. 175 points: RollieMe's comment in Trying to see both sides of the scaling debate
  10. 156 points: KillerDr3w's comment in My dog ate my TREZOR. Check your recovery seeds folks!
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

[uncensored-r/BitcoinMarkets] Your Daily Moon Math - 2017-12-15

The following post by jarederaj is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7k1bo7
The original post's content was as follows:
There's a new 7-day performance column today. That's going to fluctuate wildly. The results of that column are being included in the nannal calculations. The new column should make higher nannal percentages even harder to achieve. Today vs yesterday is a good example of that.
Yesterday the rates of the 7-day performance column were basically identical to the results of the 30-day column. Today, it's showing basically sideways movement. Why is that? The closing prices we're using today came in before the price action we're seeing, and we went sideways for a week.
This week seems to be behaving surprisingly like last week; as if last week was a test run for what we expect to see this week. I'm not sure how much stock I put in repeating weekly fractal patterns, but it has become self-evident that ilovebeans23 fucks:
https://www.reddit.com/BitcoinMarkets/comments/7jgnty/daily_discussion_wednesday_december_13_2017/dr7dcuq
I'm adding a regular blurb to the bottom of the moon math table because a number of people keep asking if they should buy bitcoin based on the Moon Math table or Azop's charts. The answer is no, you should not. You should learn to hunt. Then you should learn to avoid being hunted.
Good hunting.

Azop's Rainbow Charts

Moon Math Table

  • Closing Price: 16,678.89 USD
Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
From Date 2017-12-07 2017-11-14 2017-10-15 2017-09-15 2017-01-01 2016-01-01 2015-01-01 2014-01-01 2013-01-01 2012-01-01 2011-01-01 2010-07-18
Starting Price USD $16,501.97 $6,635.41 $5,647.31 $3,774.27 $997.73 $432.00 $312.00 $804.00 $12.50 $5.27 $0.30 $0.09
% Change 1.07% 151.36% 195.34% 341.91% 1571.68% 3760.85% 5245.80% 1974.49% 133331.14% 316387.51% 5559530.67% 18532002.22%
Doubling in months 15.0 0.7 1.3 1.4 2.8 4.4 6.2 10.8 5.7 6.1 5.3 5.1
Doubling Period in Days 455 23 38 42 85 135 188 330 174 187 161 155
Days in period 7 30 60 90 347 713 1078 1443 1808 2175 2540 2707
Compounding Daily Periodic Rate 0.1525% 3.12010% 1.82% 1.66% 0.8150% 0.45% 0.37% 0.21% 0.40% 0.37126% 0.43% 0.45%
Daily Periodic Rate 0.1532% 5.05% 3.26% 3.80% 4.53% 5.27% 4.87% 1.37% 73.75% 145.47% 2188.79% 6845.96%
Annual Rate of Investment 56% 1842% 1188% 1387% 1653% 1925% 1776% 499% 26917% 53095% 798909% 2498774%
Over $20,000.00 on 2018-04-12 2017-12-19 2017-12-23 2017-12-24 2018-01-03 2018-05-02 2018-01-30 2018-03-08 2018-01-24 2018-01-28 2018-01-20 2018-01-24
Over $25,190.00 on 2018-09-10 2017-12-26 2018-01-05 2018-01-07 2018-02-01 2018-06-22 2018-04-02 2018-06-26 2018-03-23 2018-04-01 2018-03-15 2018-03-17
Over $31,620.00 on 2019-02-06 2018-01-03 2018-01-17 2018-01-20 2018-03-01 2018-08-12 2018-06-02 2018-10-12 2018-05-19 2018-06-01 2018-05-06 2018-05-06
Over $56,230.00 on 2020-02-19 2018-01-21 2018-02-18 2018-02-24 2018-05-10 2018-12-17 2018-11-05 2019-07-13 2018-10-11 2018-11-03 2018-09-17 2018-09-12
Over $79,430.00 on 2020-10-02 2018-02-01 2018-03-09 2018-03-17 2018-06-22 2019-03-04 2019-02-07 2019-12-24 2019-01-05 2019-02-04 2018-12-06 2018-11-28
Over $100,000.00 on 2021-03-02 2018-02-08 2018-03-21 2018-03-30 2018-07-20 2019-04-24 2019-04-10 2020-04-11 2019-03-04 2019-04-07 2019-01-29 2019-01-18
Over $1,000,000.00 on 2025-04-21 2018-04-23 2018-07-26 2018-08-16 2019-04-28 2020-09-17 2020-12-23 2023-04-11 2020-10-01 2020-12-17 2020-07-16 2020-06-15
nannal 's A+ on NEVER!!!! 2018-02-17 2018-04-05 2018-04-15 2018-09-01 2019-05-23 2019-11-08 NEVER!!!! 2019-11-08 NEVER!!!! 2019-06-23 2019-05-25
The Nannaling 75.0% What the shit is this?
nannal 2020 83.3% Read about it
WARNING: Using Moon Math as a forecasting method is VERY dangerous and VERY tempting. I see no reason why we should expect to see past performance continue indefinitely. Don't make conclusion based entirely on what you see on some random post on reddit. It doesn’t matter how compelling you might find this, it's one lens among many. If this isn't already obvious to you, for the love of GOD, start learning what critical thinking is.
Also, yes, a website is coming someday.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Projected minimum cost of BTC over the next year

tl;dr: either the growth in the hash rate must slow down, the power consumption must go down, or the price of BTC must go up, a lot. And according to https://bitcoinwisdom.com/bitcoin/difficulty, it is showing no signs at all of slowing down, hashrate actually seems to be still growing exponentially, which is good.
Using the following conversion factors, constants and assumptions:
Code:
GH/s per Diff 0.007158388055 Blocks/Period 2016 BTC/Period 50400 Watts per GH/s 1 (assumed constant rest of this year, is it right to assume this?) USD/kWh $0.10
In other words assuming everyone in the network pays $0.10 per kWh and everyone has miners that burn 1 W per GH/s (1 J/GH) then we can calculate the average production cost for each BTC over the last year as follows:
Assuming the network growth rate over the next year is about 20% average we get:
Code:
 Hash Rate Power Energy Cost Cost Date Difficulty TH/s MW MWh $/Period $/BTC 
11-Sep-14 33,220,936,877 237,808 238 66,349 $6,634,853 $131.64
23-Sep-14 40,236,446,759 288,028 288 80,360 $8,035,984 $159.44
04-Oct-14 48,733,473,526 348,853 349 97,330 $9,733,002 $193.12
16-Oct-14 59,024,880,009 422,523 423 117,884 $11,788,392 $233.90
28-Oct-14 71,489,598,585 511,750 512 142,778 $14,277,833 $283.29
08-Nov-14 86,586,583,575 619,820 620 172,930 $17,292,988 $343.11
20-Nov-14 104,871,710,060 750,712 751 209,449 $20,944,876 $415.57
02-Dec-14 127,018,241,359 909,246 909 253,680 $25,367,960 $503.33
13-Dec-14 153,841,618,762 1,101,258 1,101 307,251 $30,725,098 $609.62
25-Dec-14 186,329,486,300 1,333,819 1,334 372,135 $37,213,544 $738.36
05-Jan-15 225,678,056,071 1,615,491 1,615 450,722 $45,072,202 $894.29
17-Jan-15 273,336,153,086 1,956,646 1,957 545,904 $54,590,430 $1,083.14
29-Jan-15 331,058,561,407 2,369,846 2,370 661,187 $66,118,694 $1,311.88
09-Feb-15 400,970,635,767 2,870,303 2,870 800,815 $80,081,465 $1,588.92
21-Feb-15 485,646,557,708 3,476,447 3,476 969,929 $96,992,858 $1,924.46
05-Mar-15 588,204,117,648 4,210,593 4,211 1,174,756 $117,475,554 $2,330.86
16-Mar-15 712,419,512,763 5,099,775 5,100 1,422,837 $142,283,732 $2,823.09
28-Mar-15 862,866,387,600 6,176,732 6,177 1,723,308 $172,330,835 $3,419.26
08-Apr-15 1,045,084,236,901 7,481,119 7,481 2,087,232 $208,723,207 $4,141.33
20-Apr-15 1,265,782,371,309 9,060,961 9,061 2,528,008 $252,800,823 $5,015.89
02-May-15 1,533,086,956,002 10,974,431 10,974 3,061,866 $306,186,635 $6,075.13
13-May-15 1,856,840,218,301 13,291,983 13,292 3,708,463 $370,846,321 $7,358.06
25-May-15 2,248,962,841,151 16,098,949 16,099 4,491,607 $449,160,670 $8,911.92
06-Jun-15 2,723,892,885,897 19,498,682 19,499 5,440,132 $544,013,236 $10,793.91
17-Jun-15 3,299,117,405,623 23,616,363 23,616 6,588,965 $658,896,517 $13,073.34
29-Jun-15 3,995,816,323,188 28,603,604 28,604 7,980,405 $798,040,547 $15,834.14
10-Jul-15 4,839,642,281,734 34,644,038 34,644 9,665,686 $966,568,646 $19,177.95
22-Jul-15 5,861,665,181,962 41,960,074 41,960 11,706,861 $1,170,686,065 $23,227.90
03-Aug-15 7,099,516,184,307 50,821,092 50,821 14,179,085 $1,417,908,463 $28,133.10
14-Aug-15 8,598,773,298,472 61,553,356 61,553 17,173,386 $1,717,338,634 $34,074.18
26-Aug-15 10,414,639,578,109 74,552,032 74,552 20,800,017 $2,080,001,680 $41,269.87
07-Sep-15 12,613,975,712,232 90,295,733 90,296 25,192,510 $2,519,250,952 $49,985.14
In other words something has got to give by the end of the year, or actually before December 1
This does not take into account hardware manufacturing cost or other expenses, just strictly electricity costs to produce one btc. I'm sure there are more efficient miners out now that are better than 1 watt gh right? Regardless of above, from now until 2016 block halving it's going to be extremely interesting to see what happens to bitcoin, and i think during this time peroid is when we will know for sure if bitcoin will become mainstream or not...
submitted by total_idiot123 to Bitcoin [link] [comments]

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