Quoted from irobot:If you write something worth reading, I promise I'll give you a serious response.
Hilarious I’ve been commenting on this thread from day 1. Your six first posts on this thread ever were today and they all sucked. Thanks for your contributions.
Quoted from Pdxmonkey:What did you expect?
Go in any thread and call it garbage. Then Oh poor robot got dog piled on. I thought engineers were smart…lol
well, you make a very good point
this conversation we're having is following the usual bitcoin thread pattern to a T
so what did I expect? excellent question there
https://www.bbc.com/news/world-us-canada-60383385
I hope Canadian hardware wallet sales spike today.
Justin Trudeau heaped praise on the blood-soaked marxist despot Fidel Castro.
Castro was a evil marxist dictator who ruled Cuba with violence, while the people starved.
https://www.hrw.org/news/2016/11/26/cuba-fidel-castros-record-repression#
And now Justin finally gets a chance to emulate his hero a little.
Quoted from irobot:LOL
The point isn't to brag. The point is that I call bitcoin garbage and then get dogpiled by people who have 1/10 as much money in it.
bitcoin is a VERY RISKY investment, and all the internet cheerleading and theorizing and chitter chatter in the world doesn't change that fact.
proceed if you like, but know what you are doing: you are gambling.
I wrote this to be a friend. Not to brag.
there is nobody who can put an accurate price tag on bitcoin. nobody knows what it will be worth in 10 years. it's a total crappshoot.
Personally, I'll be invested in it until the big banks start bagging on it. Right now, it's all smiles and backslaps.
Disagree. In my view your comment was an unnecessary point and was intended to brag. Don't sweat it, the internet is full of big shots.
Your further point seem to be that you are all knowing while we are brainless lemmings running over a cliff. Not sure what compelled you to warn us but had you joined this thread long ago, you would know that many of us have repeatedly spoken of the risks and volatility of Crypto. Its also been well establish here that no one should invest more than they can afford to lose. Also known as common sense.
Wow, Bitcoin is risky and speculative. - Thanks for pointing out the obvious.
Quoted from irobot:People who polish their wood on the internet are foolish.
Well, I don't know about that...but that's a different site entirely 
Quoted from Mr68:Disagree. In my view your comment was an unnecessary point and was intended to brag. Don't sweat it, the internet is full of big shots.
Your further point seem to be that you are all knowing while we are brainless lemmings running over a cliff. Not sure what compelled you to warn us but had you joined this thread long ago, you would know that many people have repeatedly spoken of the risks and volatility of Crypto. Its also been well establish here that no one should invest more than they can afford to lose. Also known as common sense.
Wow, Bitcoin is risky and gambling. - Thanks for confirming the obvious.
you should show this to all your pals so they can see how you wrote some insulty bicker stuff to a stranger
it almost never happens on the internet, so they will be amazed by it
Quoted from Astropin:Well, I don't know about that...but that's a different site entirely
I used to be on the arfcom site a lot and there were a ton of "tactical" guys who were constantly striking the pose True He-man.
Well, it's pretty much the whole website.
That really soured me from wanting to either read or write any kind of internet boasting. Because eventually they would post a picture of themselves and they mostly looked like this:
EOvMnU9UYAAZGpD (resized).jpg
I've been thinking about it, whether I'm going to stick with my previous assumption that I own more bitcoin that 95% of the people in this thread.
Statistically most bitcoin buyers are young and statistically most young people don't have much net worth. Baby Boomers don't go for crypto, less than 1% of boomers have any. So that would make me think the 95% guess is a good number.
But on the other hand, pinball collecting is kind of a boomer hobby. And Boomers have a sh*tload of money to spend, because they are in the prime earning years of their life. And no more kids or mortgages to suck up all their money.
(You can tell that the Boomers have arrived when the prices of stuff skyrocket. Like $10,000 for a focking pinball machine.)
So this is a thread of crypto fans that probably has an unusually high number of boomers because they're pinball collectors.
IT'S A MYSTERY WRAPPED INSIDE AN ENIGMA.
We should have an anonymous poll to see how much crypto $$ that pinsiders are holding.
Then we could see how accurate my dastardly guess was.
What we should all do is each convince one Boomer to invest in crypto. They'll have bitcoin up to $1 million in a few days.
Well I'm not a "boomer"...but I'm close. Also there are a fair number of young people with money. But yes, in general, this site/hobby is populated with people with an above average net worth.
I won't tell you how much I have, but it's become a sizable percentage of my net worth since I've been buying it for over 4.5 years.
Quoted from irobot:It's not a bad guess for me to assume that I have more invested in crypto than 95% of the general public. Which we all are. Because my net worth is high and statistically, crypto investors tend to be young people.
I have no crypto. Everything was lost in a tragic house-boat server farm accident.
Continue bragging and good luck when the IRS changes their mind and comes knocking.
Quoted from Pdxmonkey:https://www.bbc.com/news/world-us-canada-60383385
I hope Canadian hardware wallet sales spike today.
Suddenly the laymen begin to understand why gentlemen like ourselves have been discussing crypto for 10 years. Overreach is just insane, and it’s very sad people cannot even do what they please with their own money without permission from the state.
Quoted from Astropin:Well I'm not a "boomer"...but I'm close. Also there are a fair number of young people with money. But yes, in general, this site/hobby is populated with people with an above average net worth.
I won't tell you how much I have, but it's become a sizable percentage of my net worth since I've been buying it for over 4.5 years.
if you look at the statistics, that's where the picture becomes clear
between the ages of 30-34, the average net worth is $122,700 and the median net worth is $35,112.
Between the ages of 35-39, the average is $274,112 and the median is $55,519.
Between the ages of 60 and 64, the average net worth is $1,187,730 and the median is $228,833.
Old fogies have 10x as much money as young people. But old people don't invest in crypto. 22% of the public own crypto, but only 1% of boomers.
we need to harness old fogies to pump bitcoin.
Quoted from Isochronic_Frost:Suddenly the laymen begin to understand why gentlemen like ourselves have been discussing crypto for 10 years. Overreach is just insane, and it’s very sad people cannot even do what they please with their own money without permission from the state.
Looks like Canada is a lost cause. They love them some authoritarianism.
One time a conservative American speaker was going to talk at a Canadian university and they told her that if she said the wrong thing she would be subject to arrest and prosecution. They were proud of it. Ha ha, we stopped you from saying stuff we don't like! Hooray!
If you dress up a despicable authoritarian thug in a cute little blow-dry hairdo and have him say nicey-nice things about diversity, they lap it up like ice cream.
He just invoked Emergency Powers. First time in Canadian history it's been invoked. To end a protest. He'll get re-elected.
Quoted from irobot:One time a conservative American speaker was going to talk at a Canadian university
Lol at the new Canada expert in here, and at Canada for being a lost cause. That’s news to me.
I had a response written, but to be honest, I highly doubt it would change any expert minds who are so sure they know exactly what’s going on.
So I’ll leave it at this. Canada is doing just fine. Crypto in Canada will be fine. Don’t be silly enough to judge a whole nation by the actions of one group and the prime ministers response to said group.
I’m going to keep bi-weekly DCAing into crypto, and playing pinball. I’ll check back in with this thread in a couple weeks.
Quoted from irobot:Personally, I'll be invested in it until the big banks start bagging on it. Right now, it's all smiles and backslaps.
As discussed a few months back, Australia's biggest bank is on board - offering crypto trading to account holders and ablity to hold digital currency in thier accounts.
Quoted from Isochronic_Frost:Deleted post
Why not start a separate thread if you want to share your newfound love for Canadian civil disobedience? No one here is remotely interested (other than the robot guy, but I bet he'd come join you).
Quoted from fosaisu:Why not start a separate thread if you want to share your newfound love for Canadian civil disobedience? No one here is remotely interested (other than the robot guy, but I bet he'd come join you).
Sorry I ragged on your sacred cow. The dude has been quite hostile to crypto, so not sure why you want to defend him.
I do wish that governments would make up their mind. Is crypto legit, or is it just a big joke? When it supports their interests they hand-wave it. When it goes against them, they demonize it.
Crypto is financial democracy, something we desperately need if people want to speak for themselves.
It’s been a good month to buy!
Quoted from Isochronic_Frost:Sorry I ragged on your sacred cow. The dude has been quite hostile to crypto, so not sure why you want to defend him.
You misunderstand me. If you want to discuss Trudeau's crypto policies by all means carry on. But you seem more interested in repping vaccine protestors and sharing your collection of vintage blackface pics.
Damn this thread took a dive. I'd recommend any newbies scroll the previous 100 pages so we don't repeatedly debate the same topics.
PS: a "marxist dictator" is an oxymoron.
PPS: It's inevitable a political discussion will seep into a crypto discussion due to regulations and taxation, but beyond that, half the reason Bitcoin was invented was to be a superior form of currency than any country has provided throughout history due to the inevitability of bad monetary policy. see "The Bitcoin Standard", prescient in so many ways to what's going on right now.
Quoted from fosaisu:You misunderstand me. If you want to discuss Trudeau's crypto policies by all means carry on. But you seem more interested in repping vaccine protestors and sharing your collection of vintage blackface pics.
I could say the exact same to you. You posted some goofy meme in response to your hero getting called out. Trudeau’s long history of blatant racism as well as using other peoples culture as a costume to virtue signal with, is actually quite related regarding his go-to deflection of “racism” or “equality” to excuse the endless terrible choices of his administration. The most troubling issue being his attack on crypto. That is pretty atrocious and brings us right back to square one!
https://news.bitcoin.com/trudeau-invokes-emergencies-act-end-freedom-convoy-protests-canadas-terrorist-financing-rules-crypto/
Quoted from Baiter:Damn this thread took a dive. I'd recommend any newbies scroll the previous 100 pages so we don't repeatedly debate the same topics.
PS: a "marxist dictator" is an oxymoron.
PPS: It's inevitable a political discussion will seep into a crypto discussion due to regulations and taxation, but beyond that, half the reason Bitcoin was invented was to be a superior form of currency than any country has provided throughout history due to the inevitability of bad monetary policy. see "The Bitcoin Standard", prescient in so many ways to what's going on right now.
Thank you, this is what I was circling back to.
Trudeau’s abuse of power, now being used to attack crypto, is at the heart of why Bitcoin exists.
This isn’t some silly speculative con, this is a genuine currency, with utility, meant to end the global reign of financial terrorism holding the people of the free world hostage.
This concept that someone in “power” can decide how you use your money on a whim is nauseating. If you support that then you DON’T believe in crypto.
Some political talk is inevitable, but if we want to be allowed to freely discuss those things and how they affect crypto, it makes sense to keep those comments to the point. Maybe even treat others with a modicum of respect.
I'm really not interested in hearing anyone's thoughts on the vaccine, communism, blah blah fucking blah. It's not relevant. If you start using crypto discussions to take political digs it can only mean you've exhausted all other audiences, and you're a full-blown asshole.
My take away on Canadian bank accounts being froze.
A good chunk of the money raised for Canadians came from the USA. Now if I wanted to cross into the USA I could only carry 10k or 20k across the border before I have to declair it with border services. Since millions of dollars were raised from Americans, the government has to be sure that it's not proceeds from crime, or that it is being laundered through Canada. Many of the largest donations came from the USA from anonymous donors.
Who's paying for the convoy protest to continue? Because if it's funded by other governments to cause strife here, that's unacceptable imho
Quoted from irobot:I've been thinking about it, whether I'm going to stick with my previous assumption that I own more bitcoin that 95% of the people in this thread. Statistically most bitcoin buyers are young and statistically most young people don't have much net worth. Baby Boomers don't go for crypto, less than 1% of boomers have any. So that would make me think the 95% guess is a good number.
This sounds like something that should have an over under associated with it.
I'm curious how you know that 1% of baby boomers own cryptocurrency seeing how the blockchains are essentially anonymous? I was in a cryptocurrency investment club back in 2017 and I was one of the young ones at 42. I was also the poor person in the room when we got together. These people owned businesses that did 10's of millions a year, owned strip malls, high rises, private planes, multiple vacation properties, etc.
It wasn't a room full of "20 somethings" with $50 to throw at some BTC. It was people deciding if they wanted to buy 15 BTC or 600 ETH that week.
So in my experience, you're completely wrong.
Quoted from irobot:We should have an anonymous poll to see how much crypto $$ that pinsiders are holding.
Then we could see how accurate my dastardly guess was.
You're more than capable of starting a poll since you appear to want to engage in a di*k measuring contest, but I have this feeling you might not like the results.
Quoted from irobot:What we should all do is each convince one Boomer to invest in crypto. They'll have bitcoin up to $1 million in a few days.
No one in this thread is a pumper and I think that most of the people that frequent this thread would be offended at the insinuation that this is a Ponzi scheme or a pump and dump. This is the natural evolution of currency, smart contracts and immutable data storage all rolled into one. There are some mountains to climb, but its coming weather anyone likes it or not.
Quoted from Spyderturbo007:This sounds like something that should have an over under associated with it.
I'm curious how you know that 1% of baby boomers own cryptocurrency seeing how the blockchains are essentially anonymous?
Blockchains aren't very anonymous. There's a reason Lichtenstein & Morgan were caught with their stolen Bitcoin: KYC. And even prior to all the KYC on exchanges to onboard or offload fiat, anyone with rudimentary adtech skills can use the blockchain to correlate who is who. If I were to guess the age statistics come from exchanges.
Quoted from Spyderturbo007:No one in this thread is a pumper and I think that most of the people that frequent this thread would be offended at the insinuation that this is a Ponzi scheme or a pump and dump. This is the natural evolution of currency, smart contracts and immutable data storage all rolled into one. There are some mountains to climb, but its coming weather anyone likes it or not.
This is very true, this is not your usual crypto thread that's full of FUD and pumps... just a casual place to share thoughts.
Quoted from Baiter:Blockchains aren't very anonymous. There's a reason Lichtenstein & Morgan were caught with their stolen Bitcoin: KYC. And even prior to all the KYC on exchanges to onboard or offload fiat, anyone with rudimentary adtech skills can use the blockchain to correlate who is who. If I were to guess the age statistics come from exchanges.
Let's just say if I stole a few billion dollars in crypto, an exchange off ramp would be the last place you'd find me. I'd say they weren't very smart.
So there were 6 crypto ads during this year's superbowl when there were none the year before, that was kind of amazing, although it doesn't seem to have much impact on the Market even if it crashed Coinbase for a while. This one with Larry David was the funniest:
"requiring all FINTRAC-regulated organizations in Canada to stop interacting with 34 crypto wallets"
Hahahahahahahahahahahahahahahahahahahaha.....they call that blocked? So your wallet can keep accepting Bitcoin from anywhere in the world, but you aren't able to interact with FINTRAC-regulated organizations in Canada? People still don't get the power of crypto. FINTRAC-regulated organizations in Canada? - here's my middle finger. We have the whole rest of the world to exchange with. For them to call that blocked is just willful ignorance or worse.
LINK Fanboy Alert!
I just like posting this because it’s a project with a purpose that’s easy for people to understand.
“Popular projects like Bored Ape Yacht Club, Axie Infinity, Ethercards and more rely on Chainlink VRF for randomness. "It is only with verifiable, tamper-proof randomness that it becomes possible to securely mint NFTs and their attributes or ensure fair outcomes in blockchain-based games," said Sergey Nazarov, co-founder of Chainlink.
Chainlink VRF generates a random number and cryptographic proof of how that number was determined using a combination of unpredictable block data and an oracle's private key with every new request. The cryptographic proof is then published and verified on the blockchain to prevent vulnerability and exploitation.”
Pretty neat how that works with the verification. They are rolling out v2 of their Verifiable Random Function that will add functionality and reduce transaction fees by 60%.
Source:
https://cointelegraph.com/news/chainlink-verifiable-random-function-v2-goes-live-on-mainnet
Anyone here following the SEC vs Ripple suit?
Personally, I think it's the biggest thing going on in the US crypto space right now. I know that XRP has had its detractors, but it really is a precedent setting case. If Ripple wins, especially on the fair notice defense, any currently existing crypto will basically get a pass. If they lose, practically everything but maybe Bitcoin is fair game (which bitcoin maximalists might be happy for, but I think there are some issues with Bitcoin that will prevent it from being used as anything except maybe a store of value, which would be a massive underutilization of the potential of cryptocurrencies).
Quoted from thekiyote:Anyone here following the SEC vs Ripple suit?
Personally, I think it's the biggest thing going on in the US crypto space right now. I know that XRP has had its detractors, but it really is a precedent setting case. If Ripple wins, especially on the fair notice defense, any currently existing crypto will basically get a pass. If they lose, practically everything but maybe Bitcoin is fair game (which bitcoin maximalists might be happy for, but I think there are some issues with Bitcoin that will prevent it from being used as anything except maybe a store of value, which would be a massive underutilization of the potential of cryptocurrencies).
I haven’t followed the last couple months so please lmk if anything has changed. At the start of 2022 it really sounded like Ripple was going to come out with the win or at worst a small fine.
Quoted from Pdxmonkey:I haven’t followed the last couple months so please lmk if anything has changed. At the start of 2022 it really sounded like Ripple was going to come out with the win or at worst a small fine.
Yeah, they've been battling it out over discovery. Ripple I think has the better case, but the SEC has a massive home court advantage.
My prediction is that settlement is waiting on the judge ruling whether or not the fair notice defense will be allowed. I don't think the SEC would want that making it into a summary judgement opinion, so the settlements would become very Ripple-favorable. If she doesn't allow it, then I think Ripple might take it all the way, just because I don't see the SEC offering a settlement that will allow Ripple to continue their remittance business.
Any one think Cardano is a decent buy for a long term hold at $1.00? im just looking to jump in with $1000
Quoted from Concretehardt:Any one think Cardano is a decent buy for a long term hold at $1.00? im just looking to jump in with $1000
If you had $1000 to blow at a casino, I think crypto is a better bet than the casino.
As far as what to buy?
If a token has some utility, its better than a meme based token.
Thats about it, good luck!
Now place yer bets....
Can we talk taxes for a minute? It looks like none of the exchanges I have crypto on are reporting directly to the IRS. I mostly am holding, but I have some staking gains and a few small sales, generally not adding up to even $100 in taxable gains. Would you report it? Coinbase says:
"Coinbase will issue a Form 1099-MISC to you and the IRS if you earned $600 or more in crypto from
Receiving crypto for free that does not qualify as a gift. This includes airdrops, sweepstakes winnings, and sign up incentives (for example, getting $5 in bitcoin for downloading a crypto app)
Earning new crypto from mining and staking
Receiving crypto from a hard fork
We are not required to issue a Form 1099-B or issue reporting to the IRS if you sell, trade, or spend your crypto currency at this time. This year you can download your gain/loss report from Documents to help you with filing your taxes."
Quoted from nwpinball:Can we talk taxes for a minute? It looks like none of the exchanges I have crypto on are reporting directly to the IRS. I mostly am holding, but I have some staking gains and a few small sales, generally not adding up to even $100 in taxable gains. Would you report it
I’m reporting all mine. They are definitely going to be shining a spotlight on crypto returns.
Quoted from Pdxmonkey:I’m hearing Tuesday
[quoted image]
So you’re saying doomsday is Tuesday for crypto in the United States?
Quoted from Spyderturbo007:So you’re saying doomsday is Tuesday for crypto in the United States?
Not necessarily…idk what he’s going to say…
Smart move would be regulating stable coins and setting clear rules for securities. Smarter move would be buying BTC.
Flip side historically outlawed things skyrocket in black market value, alcohol, gold, drugs, and guns. To be extra safe you got this weekend to move to hardware wallets.
Be an interesting week.
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