Bitcoin Overbought Above $12K But Analysts Understate Drop ...

Flatten the Curve. #18. The current cold war between China and America explained. And how China was behind the 2008 Wall Street financial Crash. World War 3 is coming.

China, the USA, and the Afghanistan war are linked. And in order to get here, we will start there.
9-11 happened. Most of the planet mistakenly understood terrorists had struck a blow against Freedom and Capitalism and Democracy. It was time to invade Afghanistan. Yet all of the terrorists were linked to Saudi Arabia and not Afghanistan, that didn't make sense either. Yet they invaded to find Bin Laden, an ex CIA asset against the Soviet Union and it's subjugation of Afghanistan. The land in the middle of nowhere in relation to North America and the West. It was barren. A backwater without any strategic importance or natural resources.
Or was there?
The survey for rare earth elements was only made possible by the 2001 U.S. invasion, with work beginning in 2004. Mirzad says the Russians had already done significant surveying work during their military occupation of the country in the 1980s. Mirzad also toes the line for U.S. corporations, arguing, “The Afghan government should not touch the mining business. We have to give enough information to potential investors.”
Rare Earth Elements. The elements that make the information age possible. People could understand the First Gulf War and the Geopolitical importance of oil. That was easy, but it still didn't sound morally just to have a war for oil. It was too imperialist and so they fell in line and supported a war for Kuwaiti freedom instead, despite the obvious and public manipulation at the UN by Nayirah.
This is some of her testimony to the Human Rights Council.
While I was there, I saw the Iraqi soldiers come into the hospital with guns. They took the babies out of the incubators, took the incubators and left the children to die on the cold floor. It was horrifying. I could not help but think of my nephew who was born premature and might have died that day as well. After I left the hospital, some of my friends and I distributed flyers condemning the Iraqi invasion until we were warned we might be killed if the Iraqis saw us.
The Iraqis have destroyed everything in Kuwait. They stripped the supermarkets of food, the pharmacies of medicine, the factories of medical supplies, ransacked their houses and tortured neighbors and friends.
There was only one problem. She was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government (fun fact, Hill & Knowlton also have extensive ties with Bill Gates).
So the public was aghast at her testimony and supported the war against the mainly Soviet backed, but also American supported and Soviet backed Saddam Hussein, in his war against Iran, after the Iranians refused to Ally with American interests after the Islamic Revolution.
But that was oil, this was Rare Earth Elements. There was a reason the war was called, Operation Enduring Freedom. This natural resource was far more important in the long run. You couldn't have a security surveillance apparatus without it. And what was supposed to be a war on terror was in actuality a territorial occupation for resources.
Sleeping Dragon China is next, and where there's smoke, there's fire.
Let's go point form for clarity.
• China entered the rare earth market in the mid-1980s, at a time when the US was the major producer. But China soon caught up and became the production leader for rare earths. Its heavily state-supported strategy was aimed at dominating the global rare earth industry.
• 1989 Beijing’s Tiananmen Square spring. The U.S. government suspends military sales to Beijing and freezes relations.
• 1997. Clinton secures the release of Wei and Tiananmen Square protester Wang Dan. Beijing deports both dissidents to the United States. (If you don't understand these two were CIA assets working in China, you need to accept that not everything will be published. America wouldn't care about two political activists, but why would care about two intelligence operatives).
• March 1996. Taiwan’s First Free Presidential Vote.
• May 1999. America "accidently" bombs the Belgrade Chinese Embassy.
• 2002 Price competitiveness was hard for the USA to achieve due to low to non-existent Chinese environmental standards; as a result, the US finally stopped its rare earth production.
• October 2000. U.S. President Bill Clinton signs the U.S.-China Relations Act. China's take over of the market share in rare earth elements starts to increase.
• October 2001. Afghanistan war Enduring Freedom started to secure rare earth elements (Haven't you ever wondered how they could mobilize and invade so quickly? The military was already prepared).
• 2005. China establishes a monopoly on global production by keeping mineral prices low and then panics markets by introducing export quotas to raise prices by limiting supply.
• Rare Earth Elements. Prices go into the stratosphere (for example, dysprosium prices do a bitcoin, rocketing from $118/kg to $2,262/kg between 2008 and 2011).
• In a September 2005. Deputy Secretary of State Robert B. Zoellick initiates a strategic dialogue with China. This was presented as dialog to acknowledge China's emergence as a Superpower (which China probably insisted on), but it was about rare earth elements market price.
• October 2006. China allows North Korea to conduct its first nuclear test, China serves as a mediator to bring Pyongyang back to the negotiating table with the USA.
• September 2006. American housing prices start to fall.
(At some point after this, secret negotiations must have become increasingly hostile).
• March 2007. China Increases Military Spending. U.S. Vice President Dick Cheney says China’s military buildup is “not consistent” with the country’s stated goal of a “peaceful rise.”
• Mid-2005 and mid-2006. China bought between $100b and $250 billion of US housing debt between mid-2005 and mid-2006. This debt was bought using the same financial instruments that caused the financial collapse.
• 2006. Housing prices started to fall for the first time in decades.
• Mid-2006 and mid-2007. China likely added another $390b to its reserves. "At the same time, if China stopped buying -- especially now, when the private market is clogged up -- US financial markets would really seize up." Council on Foreign Relations-2007 August
• February 27, 2007. Stock markets in China and the U.S. fell by the most since 2003. Investors leave the money market and flock to Government backed Treasury Bills.
I've never seen it like this before,'' said Jim Galluzzo, who began trading short-maturity Treasuries 20 years ago and now trades bills at RBS Greenwich Capital in Greenwich, Connecticut.Bills right now are trading like dot-coms.''
We had clients asking to be pulled out of money market funds and wanting to get into Treasuries,'' said Henley Smith, fixed-income manager in New York at Castleton Partners, which oversees about $150 million in bonds.People are buying T-bills because you know exactly what's in it.''
• February 13, 2008. The Economic Stimulus Act of 2008 was enacted, which included a tax rebate. The total cost of this bill was projected at $152 billion for 2008. A December 2009 study found that only about one-third of the tax rebate was spent, providing only a modest amount of stimulus.
• September 2008. China Becomes Largest U.S. Foreign Creditor at 600 billion dollars.
• 2010. China’s market power peaked in when it reached a market share of around 97% of all rare earth mineral production. Outside of China, there were almost no other producers left.
Outside of China, the US is the second largest consumer of rare earths in the world behind Japan.
About 60% of US rare earth imports are used as catalysts for petroleum refining, making it the country’s major consumer of rare earths.
The US military also depends on rare earths. Many of the most advanced US weapon systems, including smart bombs, unmanned drones, cruise missiles, laser targeting, radar systems and the Joint Strike Fighter programme rely on rare earths. Against this background, the US Department of Defense (DoD) stated that “reliable access to the necessary material is a bedrock requirement for DOD”
• 2010. A trade dispute arose when the Chinese government reduced its export quotas by 40% in 2010, sending the rare earths prices in the markets outside China soaring. The government argued that the quotas were necessary to protect the environment.
• August 2010. China Becomes World’s Second-Largest Economy.
• November 2011. U.S. Secretary of State Hillary Clinton outlines a U.S. “pivot” to Asia. Clinton’s call for “increased investment—diplomatic, economic, strategic, and otherwise—in the Asia-Pacific region” is seen as a move to counter China’s growing clout.
• December 2011. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership later announces plans to deploy 2,500 marines in Australia, prompting criticism from Beijing.
• November 2012. China’s New Leadership. Xi Jinping replaces Hu Jintao as president, Communist Party general secretary, and chairman of the Central Military Commission. Xi delivers a series of speeches on the “rejuvenation” of China.
• June 2013. U.S. President Barack Obama hosts Chinese President Xi Jinping for a “shirt-sleeves summit”
• May 19, 2014. A U.S. court indicts five Chinese hackers, allegedly with ties to China’s People’s Liberation Army, on charges of stealing trade technology from U.S. companies.
• November 12, 2014. Joint Climate Announcement. Barack Obama and Chinese President Xi Jinping issue a joint statement on climate change, pledging to reduce carbon emissions. (which very conveniently allows the quotas to fall and save pride for Xi).
• 2015. China drops the export quotas because in 2014, the WTO ruled against China.
• May 30, 2015 U.S. Warns China Over South China Sea. (China is trying to expand it's buffer zone to build a defense for the coming war).
• January 2016. The government to abolish the one-child policy, now allowing all families to have two children.
• February 9, 2017. Trump Affirms One China Policy After Raising Doubts.
• April 6 – 7, 2017. Trump Hosts Xi at Mar-a-Lago. Beijing and Washington to expand trade of products and services like beef, poultry, and electronic payments, though the countries do not address more contentious trade issues including aluminum, car parts, and steel.
• November 2017. President Xi meets with President Trump in another high profile summit.
• March 22, 2018. Trump Tariffs Target China. The White House alleges Chinese theft of U.S. technology and intellectual property. Coming on the heels of tariffs on steel and aluminum imports, the measures target goods including clothing, shoes, and electronics and restrict some Chinese investment in the United States.
• July 6, 2018 U.S.-China Trade War Escalates.
• September 2018. Modifications led to the exclusion of rare earths from the final list of products and they consequently were not subject to import tariffs imposed by the US government in September 2018.
• October 4, 2018. Pence Speech Signals Hard-Line Approach. He condemns what he calls growing Chinese military aggression, especially in the South China Sea, criticizes increased censorship and religious persecution by the Chinese government, and accuses China of stealing American intellectual property and interfering in U.S. elections.
• December 1, 2018. Canada Arrests Huawei Executive.
• March 6, 2019. Huawei Sues the United States.
• March 27 2019. India and the US signed an agreement to "strengthen bilateral security and civil nuclear cooperation" including the construction of six American nuclear reactors in India
• May 10, 2019. Trade War Intensifies.
• August 5, 2019. U.S. Labels China a Currency Manipulator.
• November 27, 2019. Trump Signs Bill Supporting Hong Kong Protesters. Chinese officials condemn the move, impose sanctions on several U.S.-based organizations, and suspend U.S. warship visits to Hong Kong.
• January 15, 2020. ‘Phase One’ Trade Deal Signed. But the agreement maintains most tariffs and does not mention the Chinese government’s extensive subsidies. Days before the signing, the United States dropped its designation of China as a currency manipulator.
• January 31, 2020. Tensions Soar Amid Coronavirus Pandemic.
• March 18, 2020. China Expels American Journalists. The Chinese government announces it will expel at least thirteen journalists from three U.S. newspapers—the New York Times, Wall Street Journal, and Washington Post—whose press credentials are set to expire in 2020. Beijing also demands that those outlets, as well as TIME and Voice of America, share information with the government about their operations in China. The Chinese Foreign Ministry says the moves are in response to the U.S. government’s decision earlier in the year to limit the number of Chinese journalists from five state-run media outlets in the United States to 100, down from 160, and designate those outlets as foreign missions.
And here we are. You may have noticed the Rare Earth Elements and the inclusion of Environmental Standards. Yes these are key to understanding the Geopolitical reality and importance of these events. There's a reason the one child policy stopped. Troop additions.
I believe our current political reality started at Tiananmen square. The protests were an American sponsored attempt at regime change after the failure to convince them to leave totalitarian communism and join a greater political framework.
Do I have proof? Yes.
China, as far as I'm concerned, was responsible for the 2008 economic crisis. The Rare Earth Elements were an attempt to weaken the States and strengthen themselves simultaneously. This stranglehold either forced America to trade with China, or the trade was an American Trojan horse to eventually collapse their economy and cause a revolution after Tiananmen Square failed. Does my second proposal sound far fetched? Didn't the economy just shut down in response to the epidemic? Aren't both sides blaming the other? At this POINT, the epidemic seems to be overstated doesn’t it? Don't the casualties tend to the elder demographic and those already weakened by a primary disease?
Exactly the kinds who wouldn't fight in a war.
Does this change some of my views on the possibility of upcoming catastrophes and reasons for certain events? No. This is Chess, and there are obvious moves in chess, hidden moves in chess, but the best moves involve peices which can be utilized in different ways if the board calls for it.
Is all what it seems? No.
I definitely changed a few previously held beliefs prior to today, and I would caution you in advance that you will find some previously held convictions challenged.
After uncovering what I did today, I would also strongly suggest reading information cautiously. This is all merely a culmination of ending the cold war, and once I have events laid out, you will see it as well.
At this moment, the end analysis is a war will start in the near future. This will be mainly for a few reasons, preemptive resource control for water and crops, population reduction can be achieved since we have too many people, not enough jobs, and upcoming resource scarcity.
Did you notice my omission of rare earth elements? This is because of Afghanistan. I would wager China or Russia is somehow supporting the continued resistance through Iran. But events are now accelerating with China because the western collation has already begun to build up their mines and start production.
Do you remember when Trump made a "joke" about buying Greenland? Yeah. It turns out that Greenland has one of the largest rare earth mineral deposits on the planet.
Take care. Be safe. Stay aware and be prepared.
This message not brought to you by the Bill and Melinda Gates Foundation, Microsoft, Google, Facebook, Elon Musk, Blackrock, Vangaurd, the Rockefeller Foundation, Rand Corporation, DARPA, Rothschilds, Agenda 21, Agenda 30, and ID 2020.
submitted by biggreekgeek to conspiracy [link] [comments]

COVID-19's Economic Impact in Canada: a collection of stats on jobs losses, investment returns, consumer confidence, interest rates, housing, and future forecasts

Over the past few weeks, the COVID crisis has hurt the Canadian economy and the average Canadian's financial situation in more ways than one.
I tried to tally up the damage by going through the info that's been published thus far (by Stats Can, the Bank of Canada, the Parliamentary Budget Officer, news sites, etc.), and have put together some visualizations and commentary on the data.
In summary:
Jobs
Investments (2020 year-to-date returns)
Consumer Confidence
Interest Rates
Housing
Post-COVID Economic Forecasts
On April 9th, Canada’s Parliamentary Budget Officer released a “scenario analysis” report on the potential impact of COVID-19 on the Canadian economy.
 
These points are addressed in chart form at the link above. You can download a spreadsheet which contains all of the source data / charts.
There's also a summary of the emergency response initiatives announced by the federal government (CERB, GST credit, CCB one-time payment, the 75% wage subsidy, etc.), and thoughts about steps that Canadians can take today to improve their financial situation.
I'll continue to update the page as new economic stats roll-in, and as the government announces new initiatives.
I'd love to hear your thoughts about COVID's economic impact in Canada. Also, please feel free to share any other stats, articles, or reports that you think are relevant!
 
Edit: typo.
submitted by getToTheChopin to PersonalFinanceCanada [link] [comments]

The 57.13% Bitcoin Theory - Thriller Crypto Analysis

This is a running theory I have been working on for the past couple weeks. Was not sure to share it here as was very afraid how it would be perceived...but I think this could help a lot of people get out at the top. Shout out to TradingShot for getting my mind thinking this way.

Look at the numbers using the 57.13% Bitcoin Theory…

  1. Bitcoin always peaks at 57.13% higher than its last high in the same bull run give or take (+/- 5%).
  2. Looking just at the current first half of this bull run, the first peak was $5,642; increase that by 57.13% and you get $8,865 (actual was $9,008), increase that by 57.13% and you get $13,930 (actual was $13,796), increase that by 57.13% and you get $21,888.
  3. You can also confirm this theory from the last bull run. The first peak was at $314. If you apply 57.13% increase progressively, you get:
The last bull run one was an anomaly at $20,089. Thinking this was just a pop off the top because of rush of the retail market buying in after $18,353.

Applying the 57.13% Bitcoin Theory to the rest of this run are as follows give or take (+/- 5%):

Projected: $21,888 - $34,393 - $54,042 - $84,916 - $133,429 $209,657 - $329,434.
But of course we may not make it through all those stages because buying will exhaust at some point (very important to keep that in mind.)
Using the 57.13% Bitcoin Theory my safest guess would be the following give or take (+/- 5%) Please keep in mind dates could be wrong:
$21,888 by December 2020
$34,393 by February 2021
$54,042 by May 2021
$84,916 by August 2021
$133,429 by October - December 2021.
This will go right inline with my previous research that Bitcoin will be jumping & dropping 10K levels after the halving this year. Will see this occur in 2021.
I have a part-time subscription podcast that goes deeper into the current bull run, it's free if you want to subscribe. thrillercrypto.substack.com I do this part time outside of my full time job...just find bitcoin so fascinating.
submitted by ThrillerPodcast to BitcoinMarkets [link] [comments]

A Guide - How to handle your bitcoin / crypto losses for tax savings

So I thought it would be helpful to write this up for everyone. DISCLAIMER - You should still speak with a tax advisor and not treat this as straight tax advice, just information. I am interested in the regulatory side of crypto, so I thought it would be helpful.
Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes. This guide will discuss how to handle your losses and the important things that you need to keep in mind for your crypto taxes.

Losses on Crypto and Bitcoin trades offset other capital gains

For tax purposes in the U.S., selling crypto is treated the same as selling any other type of capital asset—stocks, bonds, property etc. This means that you realize a capital gains or capital losses anytime you sell Bitcoin or any other cryptocurrency. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell (or trade) your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like stocks in your portfolio.
Unfortunately in the crypto landscape that we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save you money.

Net capital losses up to $3,000 can be deducted against other types of income

Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If the net capital loss is less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income—like the income from your job.
If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year.
It's very important to note that before being used to offset other types of income, capital losses offset other types of capital gains. This can provide HUGE tax benefits for people who have capital gains in other areas.

What does this look like in real life?

Let’s go through an example to paint a clear picture.
Let's say you gained $20,000 in the stock market this year (this is a capital gain), and you lost $20,000 trading cryptocurrency. Your loss in crypto would completely offset your 20K stock market gain. Therefore, you would pay no taxes on your stock market activity. If you are at a 25% tax bracket, this form of tax loss harvesting would save you $5,000 in taxes (20,000 * 0.25).
*Note, there are many other forms of capital gains that your crypto can offset.
Tax loss harvesting is a common strategy used by investors of all asset classes: crypto, stocks, bonds, real-estate etc. We break down a step-by-step approach detailing how you can harvest your crypto losses for tax savings in our complete blog post here: Cryptocurrency Tax Loss Harvesting.

What if I have no other forms of capital gains?

In the scenario where you have no other capital gains, your losses simply offset your income up to $3,000.
As an example, let’s say you started 2019 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would deduct from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable.

Wash sale rules do not apply to crypto

This is very important for those who want to take advantage of their crypto losses. Like mentioned, a taxable event only occurs when you sell or trade your crypto into another crypto. This means that if you want to take advantage of your losses from 2018, you should sell or trade out of your crypto before Dec. 31st, 2018. By trading into another cryptocurrency, you trigger a taxable event and "realize" your losses on paper. You can then file these losses with your tax return. Please consult with a qualified tax professional regarding these tactics.
Because wash sale rules do not currently apply to cryptocurrency, you can buy back the crypto you sold to "harvest" your losses. This immediate buyback is not allowed in the world of stock trading. This is very helpful for those who want to continue to hold onto their crypto, and this form of tax loss harvesting is a common tactic amongst tax professionals.
An example - If you bought $2,000 worth of Bitcoin in February of 2018, that investment would now be worth about $600 USD give or take. To take advantage of this loss, you should trade all of that Bitcoin for Ethereum BEFORE Dec 31st and then trade back that same amount. Now you still have your Bitcoin, but you also "realized" this $1,400 loss on paper. This loss offsets other gains or income on your tax bill!
You can trigger a loss on paper by trading into another cryptocurrency, or by selling into FIAT currency. Both are taxable events and allow you to "realize" your loss.

IRS Form 8949

To get more detailed on how to report this crypto on your taxes, you need to report each trade that you made on the IRS form 8949, Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom.

What if I made a lot of trades during the year?

A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with (don’t worry we were in the exact same boat), it could be beneficial to leverage cryptocurrency tax software like CryptoTrader.Tax to automatically create your 8949 for you. All you have to do is import your trades.
Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your 1040 Schedule D.

Wrapping Up

Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can.
submitted by razor476 to BitcoinMarkets [link] [comments]

Is Bitcoin an "irrelevant asset"?

A Forbes article on Friday discussed whether Bitcoin is an “irrelevant asset”.
The article states that Bitcoin is not always related to anything. In theory, as a borderless digital asset that is not controlled by the government or a central company, Bitcoin's should go out of its own price and have nothing to do with other currencies and markets.
However, some people in the crypto industry have put forward various views, suggesting that they are related to traditional markets such as stocks or "hedging" assets such as gold. The current data does not yet give an exact answer, as the relevance of Bitcoin seems to be constantly changing, and many experts have different opinions.
Crypto analyst Tone Vays said this week, "I believe Bitcoin is indeed related to traditional stock markets because they are all private assets. Bitcoin has benefited from a decade of bull markets as people generally become richer and they are more Willing to speculate on assets such as Bitcoin. "
Vays predicts that during relatively uncertain economic times, such as when a country exits the euro zone, Bitcoin will bring a positive response. Because "people are scared, but they still have jobs, they are looking for an exit."
However, he thinks the situation is different now. Vays mentioned that "when a market crashes like now, people will worry about their jobs and they will not get involved in Bitcoin." He believes that as an asset that only exists for about 11 years, Bitcoin is not ready to be globally available Replace cash.
Affected by the global epidemic of the new crown virus and the oil price war, the traditional market has plummeted in recent days. The Dow Jones Industrial Average (DJI) has fallen by more than 20% from its high in 2020, and Bitcoin once fell from $ 10,500 on February 12 to near $ 4,000.
However, the price of Bitcoin does not always follow the traditional market. Vays believes that when the volatility of traditional market prices is small, the price of Bitcoin will not follow. "If the stock market is not volatile, then Bitcoin is irrelevant at all. When the market rises quickly or the market crashes, I believe it is related to Bitcoin because they are all private assets."
Morgan Creek Digital co-founder Anthony Pompliano said in a tweet this week, "Today, bitcoin is basically flat and the stock market has dropped by double digits. No one today has heard anyone say 'Bitcoin is related to the stock market.' The truth is, for a short time It doesn't matter whether they are relevant. Bitcoin has remained an unrelated asset for the past few months and years. "
"If you look at the correlation between digital assets and the S & P 500 in the past 180 days, the correlation is zero. The most important part of Bitcoin in terms of global hedging is that it is an unrelated asset, This means that as the stock rises or falls, Bitcoin has nothing to do with it. "
Emmanuel Goh, CEO of crypto analysis company Skew, explained the price behavior of Bitcoin relative to stock market investors. A 2016 report from the National Bureau of Economic Research (NBER) shows that the richest 10% of households own 84% of US stocks. Goh said that baby boomers own most of these numbers and they have almost no bitcoin. "And millennials who own bitcoin also own a small number of people."
Goh explained, "Theoretically, this should make Bitcoin more immune to liquidation and margin calls during global sell-offs. Given the global market and the high volatility of Bitcoin, Bitcoin has fallen by only 10%."
The article believes that as Bitcoin continues to mature, it will also receive further recognition.
submitted by FmzQuant to u/FmzQuant [link] [comments]

Guide - How to handle your bitcoin losses and reduct your tax bill

I thought it would be helpful to write this up for everyone. DISCLAIMER - You should still speak with a tax advisor and not treat this as straight tax advice, just information. I am interested in the regulatory side of crypto, so I thought it would be helpful.
Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes. This guide will discuss how to handle your losses and the important things that you need to keep in mind for your crypto taxes.
Losses on Crypto and Bitcoin trades offset other capital gains
For tax purposes in the U.S., selling crypto is treated the same as selling any other type of capital asset—stocks, bonds, property etc. This means that you realize a capital gains or capital losses anytime you sell Bitcoin or any other cryptocurrency. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell (or trade) your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like stocks in your portfolio.
Unfortunately in the crypto landscape that we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save you money.
Net capital losses up to $3,000 can be deducted against other types of income
Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If the net capital loss is less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income—like the income from your job.
If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year.
It's very important to note that before being used to offset other types of income, capital losses offset other types of capital gains. This can provide HUGE tax benefits for people who have capital gains in other areas.
What does this look like in real life?
Let’s go through an example to paint a clear picture.
Let's say you gained $20,000 in the stock market this year (this is a capital gain), and you lost $20,000 trading cryptocurrency. Your loss in crypto would completely offset your 20K stock market gain. Therefore, you would pay no taxes on your stock market activity. If you are at a 25% tax bracket, this form of tax loss harvesting would save you $5,000 in taxes (20,000 * 0.25).
*Note, there are many other forms of capital gains that your crypto can offset.
Tax loss harvesting is a common strategy used by investors of all asset classes: crypto, stocks, bonds, real-estate etc. We break down a step-by-step approach detailing how you can harvest your crypto losses for tax savings in our complete blog post here: Cryptocurrency Tax Loss Harvesting.
What if I have no other forms of capital gains?
In the scenario where you have no other capital gains, your losses simply offset your income up to $3,000.
As an example, let’s say you started 2019 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would deduct from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable.
Wash sale rules do not apply to crypto
This is very important for those who want to take advantage of their crypto losses. Like mentioned, a taxable event only occurs when you sell or trade your crypto into another crypto. This means that if you want to take advantage of your losses from 2018, you should sell or trade out of your crypto before Dec. 31st, 2018. By trading into another cryptocurrency, you trigger a taxable event and "realize" your losses on paper. You can then file these losses with your tax return. Please consult with a qualified tax professional regarding these tactics.
Because wash sale rules do not currently apply to cryptocurrency, you can buy back the crypto you sold to "harvest" your losses. This immediate buyback is not allowed in the world of stock trading. This is very helpful for those who want to continue to hold onto their crypto, and this form of tax loss harvesting is a common tactic amongst tax professionals.
An example - If you bought $2,000 worth of Bitcoin in February of 2018, that investment would now be worth about $600 USD give or take. To take advantage of this loss, you should trade all of that Bitcoin for Ethereum BEFORE Dec 31st and then trade back that same amount. Now you still have your Bitcoin, but you also "realized" this $1,400 loss on paper. This loss offsets other gains or income on your tax bill!
You can trigger a loss on paper by trading into another cryptocurrency, or by selling into FIAT currency. Both are taxable events and allow you to "realize" your loss.
IRS Form 8949
To get more detailed on how to report this crypto on your taxes, you need to report each trade that you made on the IRS form 8949, Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom.
What if I made a lot of trades during the year?
A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with (don’t worry we were in the exact same boat), it could be beneficial to leverage cryptocurrency tax software like CryptoTrader.Tax to automatically create your 8949 for you. All you have to do is import your trades.
Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your 1040 Schedule D.
Wrapping Up
Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can.
submitted by dudeson55 to btc [link] [comments]

Answered Questions from GFL's November Twitter and FB Q&A

Yup, its that time of the month again.
 
This post is meant to compile all the answered questions in one place, for easy reference. I'll try to keep this as updated as I can
Ask questions on Twitter or Facebook
Today's TwitteFB Q&A is more or less over. If you missed it or have any unanswered questions, the Reddit Q&A's tomorrow. and the discord one on the 14th
 
Questions about dates (release dates, schedules, etc.)
 
Q: When will you guys release the name change bundle again?
A: I think you will need to wait for at least a month or two.
Q: When we will get Arctic Warfare?
A: For now, all I can tell is that it will be no later than February. Faeries are unlikely to be implemented before AW
Q: When will the Halloween and School gatcha costumes be added to black card exchange ?
A: Reading Club gacha will be added to Black Card Exchange when the next gacha comes out while Halloween gacha needs to wait for 2 more gachas. Basically every nth gacha will join Black Card Exchange when No. n+2 gacha is online.
Q: Will we have a wider variety of 2/3/5 Star AR T-Dolls incoming for the ENG version?
A: Yes, I think we can expect to have more 3-5 star AR T-Dolls in the future.
Q: When xm8 will be added into the production pool ?
A: I think you will have to wait for a while. She is unlikely to come out in the first half of next year.
Q: What is the costume gacha this month going to consist of?
A: We will announce it soon, so please let me stay silent for now.
Q: Will TMP come next month?
A: Unlikely
Q: When will we get ak12 and an94?
A: Not before the 4th major event Singularity.
Q: When will we get MDR, K5, and K2?
A: None of them is likely to come out before the second quarter of next year.
Q: In your calculations, when would we be able to catch up with CN server?
A: Our current plan is to reach the point where we are only 1 or 2 major events behind CN server, but this really depends. We may not be able to fully catch up, since we need time to do the translation, testing, adjustment and potential bug fix, but we won't fall behind too much.
Q: Any ETA for chapter 8 on the main story?
A: Story of Chapter 8 is related to the major event Arctic Warfare, so we are not going to see it before the event. Answer to a related question on chapter 9: Chapter 9 is likely to come out after the 3rd major event.
Q: DSR50 when?
A: Probably after 2 more major events.
Q: SPAS-12 when?
A: SPAS-12 will probably be in the next batch of SG T-Dolls.
Q: How long approximately until Ch.09 is released?
A: Probably after the 3rd major events, as the story of this chapter is related to the event.
Q: When will we get a new client? (CN got a new beta client recently)
A: We need to finish the new client first. Only after that can we begin to construct the new EN client.
Q: Will AEK 999 costume coming anytime soon?
A: At least not in this year.
Q: Are there any plans to rerelease the very first skin batch (the party dress one)? Since its also missing sr3-mp skin too
A: The bundle for SR-3MP will be released later, and there will probably be a rerun for this gacha in the future. (In a similar question, SR-3MP's costume was said to be coming probably next year)
Q: I see it in the loading screens and the like but when's the "Café" mode coming?
A: We should have it in this year.
Q: If you are planning to catch with the CN server, are we going to get some gachas ahead of their time? (i.e. seasonal gachas).
A: The chance is there. We are still discussing about this.
Q: Can we expect T-5000 to be added before the end of the year?
A: She may come out in this year.
Q: When are we getting M1014?
A: I don't think we are getting her before the second quarter of next year.
Q: When will RFB and her costume come out?
A: She may come out in December, but her costume will not.
Q: Any idea when steyr AUG comes out?
A: Probably in the first half of next year.
Q: Will we get G36 children skin for free like JP server?
A: Probably, though I cannot tell for sure
Q: Any plan for rescue event / 4&5* general rate-up at december?
A: Not any to my knowledge. The rescue event is likely to come in January.
Q: When will we get C-MS?
A: Not before the second half of 2019, can be later.
Q: Do you have any idea when AA-12 and K11 will be added?
A: Not anytime soon.
Q: Is it possible to get an estimate for when Ameli will be released?
A: Within this year or early 2019.
Q: When are we getting Tac-50?
A: I don't think it would be anytime soon.
Q: When we will get the next 1.5 exp event?
A: The next will probably be in early 2019.
Q: Is OTs-14 going to be available again soon?
A: She will probably become available again in Cube+(a rerun of Cube).
Q: How often will those 7 Day Frontline Supply events occur?
A: Only once, unless we update it again.
Q: Will Chapter 6 night be after fairy release?
A: It will probably come out before fairies.
Q: When will PZB-39 be added?
A: I'm afraid that it won't be any soon.
Q: Can youu add more regular t-dolls between events next time?
A: I think every batch of regular T-Dolls will consist of 5-6 T-Dolls. There may be times that we have more, but the general pace will not change much.
Q: With the BlazBlue and Guilty Gear collab announced, can we hope to see the huge DJMAX collab event in the near future?
A: Unlikely in the near future, but I think we may have it later.
Q: When will Digimind upgrade come?
A: Not before Singularity
Q: Are we gonna have the 5* pick soon?
A: I'm afraid that we are not getting it soon
Q: Will there be giveaways on December?
A: Christmas mail? Yes.
Q: Will there be children's day skins on EN?
A: There will be Children's Day costumes, though I cannot reveal the release date yet. (An answer to a related question stated that the Children's Day costumes should be coming next year)
Q: Will we get other server exclusive T-doll like how Japan have theirs and china?
A: If you are talking about exclusive T-Dolls in other server, I think we will get some of them in the future.
Q: When will G36's wedding costume be released?
A: Won't be anytime soon
Q: Will we ever get 2-for-1 deals on Oath Certificates like in the other servers?
A: Yes, I think we will have the deal in the future.
Q: How will the release schedule of non story related Digimind upgrades be like?
A: The schedule may not strictly follow the ones for older servers, but we are unlikely to have them all from day one.
Q: Can I expect an event that has a limited drop of Five-Seven this year?
A: Unlikely, should be in next year.
Q: Will Cube+ come by mid 2019?
A: Kind of, though it can come earlier.
Q: Any idea on the release of Saiga-12?
A: Probably in the first quarter of next year.
Q: When are we getting M590's (CNY) skin?
A: I don't think it would be any soon.
 
Gameplay Questions
Q: Will there ever be another opportunity to obtain SASS? i wasnt playing when she first came out but have been playing ever since.
A: The callback event is one way, but I assume that you are an active player, so the event is not for you. Still, she will probably become available again as limited drop in some events in the future.
Q: Will there be more development for Type 63? like a new costume or maybe a Digimind upgrade?
A: For now that costume is all we got for her. Digimind? Maybe, but that's not what I can talk about.
Q: Will there any live 2d costume that we can just buy, not by resupply?
A: As far as I know, there isn't any for now, though I cannot tell for sure if this will change in the future.
Q: In the anniv, can we select one dolls for free?
A: Probably.
Q: Will the dolls ever be able to interact with the dorm pets?
A: To my knowledge there is no such plans for now. Let's hope it will change in the future.
Q: Do you plan on translate and sub the rest of the lines the Dolls speak, to be available on the Index?
A: Unlikely. Those lines are not supposed to be visible.
Q: A lot of players complain about not having much to do and the game having too much time between each event or playable content being added, will we see any increase in the pacing of the game? if so how big? or is it going to continue like it has since launch?
A: We will see a generally faster pace in the future. I cannot reveal how big the increase will be but you can expect to see major events and contents release more frequently.
Q: Will the collaboration skins be able to be bought using gems later on?
A: Costumes from the GG & BB collab can only be bought with real money. The most expensive one should cost no more than $30
** Followup question: Will the future collab costumes be the same (buyable only with real money)?**
A: That depends. Some of them may be purchasable with gems, like those from DJMAX collab.
Q: Will you be re-releasing event specific dolls? (specifically Five-Seven)
A: Yes, they will probably become limited drop later.
Q: With the popularity of corpse dragging for leveling, will we ever be able to optionally resupply a single T-Doll instead of an entire echelon? It would be a greatly appreciated feature by the community, I think.
A: I'm afraid that this is unlikely to happen.
Q: How is it going the patch to fix the memory leak problems the game has after leaving it open for a long time?
A: We are making the new patch, but we still need more time.
Q: Will you guys considering to turning back the voice playback like the old one? I'm sorry to said this.. the overlapping voice update is annoying. Lot of my friends been turning off the game voice too since this update.
A: I will suggest a toggle in the next patch, since we are getting some similar reports recently.
Q: Will you ever implement real coop missions and more meaningful mini events like raids and seasonal missions with unique rewards?
A: I think we do have plans for more gameplay features, but I can't reveal much now.
Q: can we get a change for Support Echelons where they don't have the "Capture HQ" option during Night Battles?
A: Reasonable. Will suggest this to the devs.
Q: Can you add in notifications towards T-Doll and Equipment production upon completion?
A: It's up to the devs. Anyway I will let them know about this.
Q: How big is chance to got some costume on radiant collections?
A: Should be no different from normal gachas.
Q: Are there any plans for an EN exclusive unit?
A: Sorry but I can' really talk about this.
Q: In the collaboration event will we get the collaboration T-dolls through production, or via missions?
A: One of the event T-Doll will be the clear reward, while the other can be obtained as map drop or loot reward.
Q: I wanna know if we will have collaboration with other games? CoD and Metal Slug cones to mind...
A: We will have more collaborations in the future, though I cannot reveal any details now.
Q: Once the event concludes, there will be no other way to obtain the special Dolls Noel and Elphet, along with their respective outfits, correct?
A: Yes, both the T-Dolls and the event costumes will be unobtainable.
Q: I see garage and intelligence center in the dropdown for auxiliary rooms in the dorm, is there any info you can shed on what they will do or when they will be added to the game?
A: They are for the fire support units which will be implemented in the future.
Q: Is there in mind ways for users to obtain tokens more often? Grinding them takes quite some time and spending them them that fast does hurt a bit.
A: To my knowledge there won't be much change for this part.
Q: What, in your opinion, is the best possible production combination for normal and heavy production? I've been trying to get IWS and others but have hit the lowest of my luck in this game, any help?
A: I don't think it is suitable for us to reveal any recipes.
Q: Will there be a way to change your adjutant back to the default setting of "whoever is leading echelon 1"? I really liked that option but once I changed it I can't change it back. Even better would be an option that shows someone at random from your armory.
A: I think this has already been suggested to the devs. Let's hope there will be improvements later.
Q: Are there official formula for calculating battery from confort?
A: I'm afraid that I cannot reveal the formula for comfort.
Q: Can we get a feature to auto-retire t-dolls obtained in battle. Either by grade or type?
A: Don't know if it is possible, but I will suggest to the devs.
Q: Does specialized recipes exist for T-Dolls as well?
A: I think that would still be a question that I can't answer.
 
Misc Questions
Q: What happened on the CN server about the Valkyria Chronicles collab?
A: I can't answer this question
Q: Are we getting split screen support back?
A: For now it is disabled out of concern for stability, but I cannot tell for sure if it will be available again later. It really depends.
Q: Will you guys be doing any booths or appearances at upcoming or future Anime conventions/exhibitions?
A: We do have plans for conventions, but it will take some time to realize.
Q: Will there be any plan to sell GFL merchandise online in the global region?
A: Yes, we do have such plans, but we still need more time to do so.
Q: Is it possible to have a global server for en and jp similar to Granblue. Like single server that can toggle EN and JP languages? Also, is it OK to add subtitles on the battle phases?
A: For now I don't think we will have the toggle. The current UI has undergone many changes to have the English text fit into it, so the toggle means another set of UI and related picture assets, and the size of the game will be unacceptable.
Q: when is the top up bonus going come back? you know, like the bonus gems you get from the first purchase of that particular gem bundle?
A: It may get reset annually, though I cannot guarantee that this will be the same for EN server.
Q: Considering JP's current content pacing, will EN and JP will eventually run alongside in terms of contents and events? Or EN will keep its pace the way it is?
A: The EN server is following its own schedule, so the release of contents will not be synchronized in the two servers.
Q: English dubbed voices a possibility?
A: To my knowledge we do not have such plans for now.
Q: Since the game is more contents which the game size is getting bigger and heavier, have you considered the suggestion implementing the other option where you can download the game patch in SD card ?
A: I'm afraid that we do not have such plans for now.
Q: Are we getting the Honkai collab?
A: I don't think I'm allowed to talk about this.
Q: Any plans on releasing it on SEA?
A: Yes, we are considering release a global version next year.
Q: Will the official manga have a english version?
A: Can't tell for sure now.
Q: Not exclusive to Global but is there any possibility of a 'Dolls not yet collected' filter being added to the index?
A: Sounds reasonable. Will suggest this to the devs.
Q: Will there ever be a co-op mode/guild implemented into the game? I have multiple ideas of how it COULD be implemented if yall wanted to make it happen, but am curious on what yall have to say about these thoughts.
A: For now there is no such plans, but there is a chance that more interactive elements being added to the game.
Q: Will you fix the misplaced display for some characters? (DP28 for example)
A: Yes, we need more time to do a thorough check as the problem happens in multiple servers.
Q: About the game size which getting bigger for every update (3.5 GB rn), do you have any solution for players who have memories problem?
A: I'm afraid that for now we cannot significantly reduce the size of the game as the picture and sound assets take up much space.
Q: Are you satisfied about the community and how you've done with the game since the launch of the EN game?
A: I think we have done an okay job, but there are also improvements we can make in the future. Also, I think our community is really nice.
Q: Will we ever get a 4* pick ticket?
A: Yes, I think we will have one at some point.
Q: Why is maintenance on a Tuesday?
A: No specific reasons. We just picked a day. In another related question, this was the answer: It doesn't have to be on Tuesday, but this suits our working schedule best.
Q: What is third-party on payment methode? I see it on announcements but never know what is it
A: Like someone who claims that they can buy you gems.
Q: So if the SEA server is open, will there be any option to migrate ID there?
A: Still under discussion
Q: Will the music from the Girls' Frontline Orchestra event be released anywhere?
A: Honestly I don't know much about this either.
Q: Do you accept bitcoin as valid payment?
A: We accept any payment approved by Apple/Google.
Q: Any chance Tuesday maintenance can start 5 minutes after daily reset so we can have some time to use simulation points?
A: Sounds interesting. I will talk about this with the team.
Q: Will there ever be doll or equipment trading?
A: To my knowledge there isn't going to be any in the near future.
Q: Will the costume bundles get a rerun in the future?
A: I'm afraid that there won't be any for costume bundles.
Q: Any easier way to top up gems? Google play bit difficult for me
A: Unlikely, it is prohibited to add any payment option other than the direct Google top-up.
Q: Will you try to make to adversite the game more to get more people to play it , or do u think the game it's fine with the current playerbase it has?
A: We will probably have an advertising campaign upon the release of the collaboration.
Q: Would it be possible to enable us to move the game to an sd card? The game is getting big and I'd like to save space on my internal memory
A: I'm sorry but we do not have such plans for now.
 
Fluff Questions
Q: Why is SOPMOD so damn cute?
A: Because she was born to be so?
Q: Is Kar-98k your favourite t-doll, why?
A: She is one of my favorite. I like the way she looks and I'm a big fan of rifles.
Q: Which dolls would you : - pat, - oath, and - corpsedrag?
A: Zas Zas Zas
Q: How long will it take before M99 comes home?
A: When you see the 04:55:00 timer?
Q: What's in an GFL MRE ration?
A: Just normal MRE.
Q: What species is G41?
A: That's probably one of the biggest mystery in the game.
submitted by Ionascrub to girlsfrontline [link] [comments]

How to handle your crypto losses on your taxes

Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes. This article discusses how to handle your losses and the important things that you need to keep in mind for your crypto taxes.
Losses on Crypto and Bitcoin trades offset other capital gains
For tax purposes in the U.S., selling crypto is treated the same as selling any other type of capital asset—stocks, bonds, property etc. This means that you realize a capital gains or capital losses anytime you sell Bitcoin or any other cryptocurrency. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell (or trade) your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like stocks in your portfolio.
Unfortunately in the crypto landscape that we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save you money.
Net capital losses up to $3,000 can be deducted against other types of income
Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If the net capital loss is less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income—like the income from your job.
If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year.
It's very important to note that before being used to offset other types of income, capital losses offset other types of capital gains. This can provide HUGE tax benefits for people who have capital gains in other areas.
What does this look like in real life?
Let’s go through an example to paint a clear picture.
Let's say you gained $20,000 in the stock market this year (this is a capital gain), and you lost $20,000 trading cryptocurrency. Your loss in crypto would completely offset your 20K stock market gain. Therefore, you would pay no taxes on your stock market activity. If you are at a 25% tax bracket, this form of tax loss harvesting would save you $5,000 in taxes (20,000 * 0.25).
*Note, there are many other forms of capital gains that your crypto can offset.
Tax loss harvesting is a common strategy used by investors of all asset classes: crypto, stocks, bonds, real-estate etc. We break down a step-by-step approach detailing how you can harvest your crypto losses for tax savings in our complete blog post here: Cryptocurrency Tax Loss Harvesting.
What if I have no other forms of capital gains?
In the scenario where you have no other capital gains, your losses simply offset your income up to $3,000.
As an example, let’s say you started 2019 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would deduct from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable.
Wash sale rules do not apply to crypto
This is very important for those who want to take advantage of their crypto losses. Like mentioned, a taxable event only occurs when you sell or trade your crypto into another crypto. This means that if you want to take advantage of your losses from 2018, you should sell or trade out of your crypto before Dec. 31st, 2018. By trading into another cryptocurrency, you trigger a taxable event and "realize" your losses on paper. You can then file these losses with your tax return. Please consult with a qualified tax professional regarding these tactics.
Because wash sale rules do not currently apply to cryptocurrency, you can buy back the crypto you sold to "harvest" your losses. This immediate buyback is not allowed in the world of stock trading. This is very helpful for those who want to continue to hold onto their crypto, and this form of tax loss harvesting is a common tactic amongst tax professionals.
An example - If you bought $2,000 worth of Bitcoin in February of 2018, that investment would now be worth about $600 USD give or take. To take advantage of this loss, you should trade all of that Bitcoin for Ethereum BEFORE Dec 31st and then trade back that same amount. Now you still have your Bitcoin, but you also "realized" this $1,400 loss on paper. This loss offsets other gains or income on your tax bill!
You can trigger a loss on paper by trading into another cryptocurrency, or by selling into FIAT currency. Both are taxable events and allow you to "realize" your loss.
IRS Form 8949
To get more detailed on how to report this crypto on your taxes, you need to report each trade that you made on the IRS form 8949, Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom.
What if I made a lot of trades during the year?
A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with (don’t worry we were in the exact same boat), it could be beneficial to leverage CryptoTrader.Tax to automatically create your 8949 for you. All you have to do is import your trades.
Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your 1040 Schedule D.
Wrapping Up
Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can.
submitted by razor476 to btc [link] [comments]

Transcript of the community Q&A with Steve Shadders and Daniel Connolly of the Bitcoin SV development team. We talk about the path to big blocks, new opcodes, selfish mining, malleability, and why November will lead to a divergence in consensus rules. (Cont in comments)

We've gone through the painstaking process of transcribing the linked interview with Steve Shadders and Daniell Connolly of the Bitcoin SV team. There is an amazing amount of information in this interview that we feel is important for businesses and miners to hear, so we believe it was important to get this is a written form. To avoid any bias, the transcript is taken almost word for word from the video, with just a few changes made for easier reading. If you see any corrections that need to be made, please let us know.
Each question is in bold, and each question and response is timestamped accordingly. You can follow along with the video here:
https://youtu.be/tPImTXFb_U8

BEGIN TRANSCRIPT:

Connor: 02:19.68,0:02:45.10
Alright so thank You Daniel and Steve for joining us. We're joined by Steve Shadders and Daniel Connolly from nChain and also the lead developers of the Satoshi’s Vision client. So Daniel and Steve do you guys just want to introduce yourselves before we kind of get started here - who are you guys and how did you get started?
Steve: 0,0:02:38.83,0:03:30.61
So I'm Steve Shadders and at nChain I am the director of solutions in engineering and specifically for Bitcoin SV I am the technical director of the project which means that I'm a bit less hands-on than Daniel but I handle a lot of the liaison with the miners - that's the conditional project.
Daniel:
Hi I’m Daniel I’m the lead developer for Bitcoin SV. As the team's grown that means that I do less actual coding myself but more organizing the team and organizing what we’re working on.
Connor 03:23.07,0:04:15.98
Great so we took some questions - we asked on Reddit to have people come and post their questions. We tried to take as many of those as we could and eliminate some of the duplicates, so we're gonna kind of go through each question one by one. We added some questions of our own in and we'll try and get through most of these if we can. So I think we just wanted to start out and ask, you know, Bitcoin Cash is a little bit over a year old now. Bitcoin itself is ten years old but in the past a little over a year now what has the process been like for you guys working with the multiple development teams and, you know, why is it important that the Satoshi’s vision client exists today?
Steve: 0:04:17.66,0:06:03.46
I mean yes well we’ve been in touch with the developer teams for quite some time - I think a bi-weekly meeting of Bitcoin Cash developers across all implementations started around November last year. I myself joined those in January or February of this year and Daniel a few months later. So we communicate with all of those teams and I think, you know, it's not been without its challenges. It's well known that there's a lot of disagreements around it, but some what I do look forward to in the near future is a day when the consensus issues themselves are all rather settled, and if we get to that point then there's not going to be much reason for the different developer teams to disagree on stuff. They might disagree on non-consensus related stuff but that's not the end of the world because, you know, Bitcoin Unlimited is free to go and implement whatever they want in the back end of a Bitcoin Unlimited and Bitcoin SV is free to do whatever they want in the backend, and if they interoperate on a non-consensus level great. If they don't not such a big problem there will obviously be bridges between the two, so, yeah I think going forward the complications of having so many personalities with wildly different ideas are going to get less and less.
Cory: 0:06:00.59,0:06:19.59
I guess moving forward now another question about the testnet - a lot of people on Reddit have been asking what the testing process for Bitcoin SV has been like, and if you guys plan on releasing any of those results from the testing?
Daniel: 0:06:19.59,0:07:55.55
Sure yeah so our release will be concentrated on the stability, right, with the first release of Bitcoin SV and that involved doing a large amount of additional testing particularly not so much at the unit test level but at the more system test so setting up test networks, performing tests, and making sure that the software behaved as we expected, right. Confirming the changes we made, making sure that there aren’t any other side effects. Because of, you know, it was quite a rush to release the first version so we've got our test results documented, but not in a way that we can really release them. We're thinking about doing that but we’re not there yet.
Steve: 0:07:50.25,0:09:50.87
Just to tidy that up - we've spent a lot of our time developing really robust test processes and the reporting is something that we can read on our internal systems easily, but we need to tidy that up to give it out for public release. The priority for us was making sure that the software was safe to use. We've established a test framework that involves a progression of code changes through multiple test environments - I think it's five different test environments before it gets the QA stamp of approval - and as for the question about the testnet, yeah, we've got four of them. We've got Testnet One and Testnet Two. A slightly different numbering scheme to the testnet three that everyone's probably used to – that’s just how we reference them internally. They're [1 and 2] both forks of Testnet Three. [Testnet] One we used for activation testing, so we would test things before and after activation - that one’s set to reset every couple of days. The other one [Testnet Two] was set to post activation so that we can test all of the consensus changes. The third one was a performance test network which I think most people have probably have heard us refer to before as Gigablock Testnet. I get my tongue tied every time I try to say that word so I've started calling it the Performance test network and I think we're planning on having two of those: one that we can just do our own stuff with and experiment without having to worry about external unknown factors going on and having other people joining it and doing stuff that we don't know about that affects our ability to baseline performance tests, but the other one (which I think might still be a work in progress so Daniel might be able to answer that one) is one of them where basically everyone will be able to join and they can try and mess stuff up as bad as they want.
Daniel: 0:09:45.02,0:10:20.93
Yeah, so we so we recently shared the details of Testnet One and Two with the with the other BCH developer groups. The Gigablock test network we've shared up with one group so far but yeah we're building it as Steve pointed out to be publicly accessible.
Connor: 0:10:18.88,0:10:44.00
I think that was my next question I saw that you posted on Twitter about the revived Gigablock testnet initiative and so it looked like blocks bigger than 32 megabytes were being mined and propagated there, but maybe the block explorers themselves were coming down - what does that revived Gigablock test initiative look like?
Daniel: 0:10:41.62,0:11:58.34
That's what did the Gigablock test network is. So the Gigablock test network was first set up by Bitcoin Unlimited with nChain’s help and they did some great work on that, and we wanted to revive it. So we wanted to bring it back and do some large-scale testing on it. It's a flexible network - at one point we had we had eight different large nodes spread across the globe, sort of mirroring the old one. Right now we scaled back because we're not using it at the moment so they'll notice I think three. We have produced some large blocks there and it's helped us a lot in our research and into the scaling capabilities of Bitcoin SV, so it's guided the work that the team’s been doing for the last month or two on the improvements that we need for scalability.
Steve: 0:11:56.48,0:13:34.25
I think that's actually a good point to kind of frame where our priorities have been in kind of two separate stages. I think, as Daniel mentioned before, because of the time constraints we kept the change set for the October 15 release as minimal as possible - it was just the consensus changes. We didn't do any work on performance at all and we put all our focus and energy into establishing the QA process and making sure that that change was safe and that was a good process for us to go through. It highlighted what we were missing in our team – we got our recruiters very busy recruiting of a Test Manager and more QA people. The second stage after that is performance related work which, as Daniel mentioned, the results of our performance testing fed into what tasks we were gonna start working on for the performance related stuff. Now that work is still in progress - some of the items that we identified the code is done and that's going through the QA process but it’s not quite there yet. That's basically the two-stage process that we've been through so far. We have a roadmap that goes further into the future that outlines more stuff, but primarily it’s been QA first, performance second. The performance enhancements are close and on the horizon but some of that work should be ongoing for quite some time.
Daniel: 0:13:37.49,0:14:35.14
Some of the changes we need for the performance are really quite large and really get down into the base level view of the software. There's kind of two groups of them mainly. One that are internal to the software – to Bitcoin SV itself - improving the way it works inside. And then there's other ones that interface it with the outside world. One of those in particular we're working closely with another group to make a compatible change - it's not consensus changing or anything like that - but having the same interface on multiple different implementations will be very helpful right, so we're working closely with them to make improvements for scalability.
Connor: 0:14:32.60,0:15:26.45
Obviously for Bitcoin SV one of the main things that you guys wanted to do that that some of the other developer groups weren't willing to do right now is to increase the maximum default block size to 128 megabytes. I kind of wanted to pick your brains a little bit about - a lot of the objection to either removing the box size entirely or increasing it on a larger scale is this idea of like the infinite block attack right and that kind of came through in a lot of the questions. What are your thoughts on the “infinite block attack” and is it is it something that that really exists, is it something that miners themselves should be more proactive on preventing, or I guess what are your thoughts on that attack that everyone says will happen if you uncap the block size?
Steve: 0:15:23.45,0:18:28.56
I'm often quoted on Twitter and Reddit - I've said before the infinite block attack is bullshit. Now, that's a statement that I suppose is easy to take out of context, but I think the 128 MB limit is something where there’s probably two schools of thought about. There are some people who think that you shouldn't increase the limit to 128 MB until the software can handle it, and there are others who think that it's fine to do it now so that the limit is increased when the software can handle it and you don’t run into the limit when this when the software improves and can handle it. Obviously we’re from the latter school of thought. As I said before we've got a bunch of performance increases, performance enhancements, in the pipeline. If we wait till May to increase the block size limit to 128 MB then those performance enhancements will go in, but we won't be able to actually demonstrate it on mainnet. As for the infinitive block attack itself, I mean there are a number of mitigations that you can put in place. I mean firstly, you know, going down to a bit of the tech detail - when you send a block message or send any peer to peer message there's a header which has the size of the message. If someone says they're sending you a 30MB message and you're receiving it and it gets to 33MB then obviously you know something's wrong so you can drop the connection. If someone sends you a message that's 129 MB and you know the block size limit is 128 you know it’s kind of pointless to download that message. So I mean these are just some of the mitigations that you can put in place. When I say the attack is bullshit, I mean I mean it is bullshit from the sense that it's really quite trivial to prevent it from happening. I think there is a bit of a school of thought in the Bitcoin world that if it's not in the software right now then it kind of doesn't exist. I disagree with that, because there are small changes that can be made to work around problems like this. One other aspect of the infinite block attack, and let’s not call it the infinite block attack, let's just call it the large block attack - it takes a lot of time to validate that we gotten around by having parallel pipelines for blocks to come in, so you've got a block that's coming in it's got a unknown stuck on it for two hours or whatever downloading and validating it. At some point another block is going to get mined b someone else and as long as those two blocks aren't stuck in a serial pipeline then you know the problem kind of goes away.
Cory: 0:18:26.55,0:18:48.27
Are there any concerns with the propagation of those larger blocks? Because there's a lot of questions around you know what the practical size of scaling right now Bitcoin SV could do and the concerns around propagating those blocks across the whole network.
Steve 0:18:45.84,0:21:37.73
Yes, there have been concerns raised about it. I think what people forget is that compact blocks and xThin exist, so if a 32MB block is not send 32MB of data in most cases, almost all cases. The concern here that I think I do find legitimate is the Great Firewall of China. Very early on in Bitcoin SV we started talking with miners on the other side of the firewall and that was one of their primary concerns. We had anecdotal reports of people who were having trouble getting a stable connection any faster than 200 kilobits per second and even with compact blocks you still need to get the transactions across the firewall. So we've done a lot of research into that - we tested our own links across the firewall, rather CoinGeeks links across the firewall as they’ve given us access to some of their servers so that we can play around, and we were able to get sustained rates of 50 to 90 megabits per second which pushes that problem quite a long way down the road into the future. I don't know the maths off the top of my head, but the size of the blocks that can sustain is pretty large. So we're looking at a couple of options - it may well be the chattiness of the peer-to-peer protocol causes some of these issues with the Great Firewall, so we have someone building a bridge concept/tool where you basically just have one kind of TX vacuum on either side of the firewall that collects them all up and sends them off every one or two seconds as a single big chunk to eliminate some of that chattiness. The other is we're looking at building a multiplexer that will sit and send stuff up to the peer-to-peer network on one side and send it over splitters, to send it over multiple links, reassemble it on the other side so we can sort of transition the great Firewall without too much trouble, but I mean getting back to the core of your question - yes there is a theoretical limit to block size propagation time and that's kind of where Moore's Law comes in. Putting faster links and you kick that can further down the road and you just keep on putting in faster links. I don't think 128 main blocks are going to be an issue though with the speed of the internet that we have nowadays.
Connor: 0:21:34.99,0:22:17.84
One of the other changes that you guys are introducing is increasing the max script size so I think right now it’s going from 201 to 500 [opcodes]. So I guess a few of the questions we got was I guess #1 like why not uncap it entirely - I think you guys said you ran into some concerns while testing that - and then #2 also specifically we had a question about how certain are you that there are no remaining n squared bugs or vulnerabilities left in script execution?
Steve: 0:22:15.50,0:25:36.79
It's interesting the decision - we were initially planning on removing that cap altogether and the next cap that comes into play after that (next effective cap is a 10,000 byte limit on the size of the script). We took a more conservative route and decided to wind that back to 500 - it's interesting that we got some criticism for that when the primary criticism I think that was leveled against us was it’s dangerous to increase that limit to unlimited. We did that because we’re being conservative. We did some research into these log n squared bugs, sorry – attacks, that people have referred to. We identified a few of them and we had a hard think about it and thought - look if we can find this many in a short time we can fix them all (the whack-a-mole approach) but it does suggest that there may well be more unknown ones. So we thought about putting, you know, taking the whack-a-mole approach, but that doesn't really give us any certainty. We will fix all of those individually but a more global approach is to make sure that if anyone does discover one of these scripts it doesn't bring the node to a screaming halt, so the problem here is because the Bitcoin node is essentially single-threaded, if you get one of these scripts that locks up the script engine for a long time everything that's behind it in the queue has to stop and wait. So what we wanted to do, and this is something we've got an engineer actively working on right now, is once that script validation goad path is properly paralyzed (parts of it already are), then we’ll basically assign a few threads for well-known transaction templates, and a few threads for any any type of script. So if you get a few scripts that are nasty and lock up a thread for a while that's not going to stop the node from working because you've got these other kind of lanes of the highway that are exclusively reserved for well-known script templates and they'll just keep on passing through. Once you've got that in place, and I think we're in a much better position to get rid of that limit entirely because the worst that's going to happen is your non-standard script pipelines get clogged up but everything else will keep keep ticking along - there are other mitigations for this as well I mean I know you could always put a time limit on script execution if they wanted to, and that would be something that would be up to individual miners. Bitcoin SV's job I think is to provide the tools for the miners and the miners can then choose, you know, how to make use of them - if they want to set time limits on script execution then that's a choice for them.
Daniel: 0:25:34.82,0:26:15.85
Yeah, I'd like to point out that a node here, when it receives a transaction through the peer to peer network, it doesn't have to accept that transaction, you can reject it. If it looks suspicious to the node it can just say you know we're not going to deal with that, or if it takes more than five minutes to execute, or more than a minute even, it can just abort and discard that transaction, right. The only time we can’t do that is when it's in a block already, but then it could decide to reject the block as well. It's all possibilities there could be in the software.
Steve: 0:26:13.08,0:26:20.64
Yeah, and if it's in a block already it means someone else was able to validate it so…
Cory: 0,0:26:21.21,0:26:43.60
There’s a lot of discussions about the re-enabled opcodes coming – OP_MUL, OP_INVERT, OP_LSHIFT, and OP_RSHIFT up invert op l shift and op r shift you maybe explain the significance of those op codes being re-enabled?
Steve: 0:26:42.01,0:28:17.01
Well I mean one of one of the most significant things is other than two, which are minor variants of DUP and MUL, they represent almost the complete set of original op codes. I think that's not necessarily a technical issue, but it's an important milestone. MUL is one that's that I've heard some interesting comments about. People ask me why are you putting OP_MUL back in if you're planning on changing them to big number operations instead of the 32-bit limit that they're currently imposed upon. The simple answer to that question is that we currently have all of the other arithmetic operations except for OP_MUL. We’ve got add divide, subtract, modulo – it’s odd to have a script system that's got all the mathematical primitives except for multiplication. The other answer to that question is that they're useful - we've talked about a Rabin signature solution that basically replicates the function of DATASIGVERIFY. That's just one example of a use case for this - most cryptographic primitive operations require mathematical operations and bit shifts are useful for a whole ton of things. So it's really just about completing that work and completing the script engine, or rather not completing it, but putting it back the way that it was it was meant to be.
Connor 0:28:20.42,0:29:22.62
Big Num vs 32 Bit. I've seen Daniel - I think I saw you answer this on Reddit a little while ago, but the new op codes using logical shifts and Satoshi’s version use arithmetic shifts - the general question that I think a lot of people keep bringing up is, maybe in a rhetorical way but they say why not restore it back to the way Satoshi had it exactly - what are the benefits of changing it now to operate a little bit differently?
Daniel: 0:29:18.75,0:31:12.15
Yeah there's two parts there - the big number one and the L shift being a logical shift instead of arithmetic. so when we re-enabled these opcodes we've looked at them carefully and have adjusted them slightly as we did in the past with OP_SPLIT. So the new LSHIFT and RSHIFT are bitwise operators. They can be used to implement arithmetic based shifts - I think I've posted a short script that did that, but we can't do it the other way around, right. You couldn't use an arithmetic shift operator to implement a bitwise one. It's because of the ordering of the bytes in the arithmetic values, so the values that represent numbers. The little endian which means they're swapped around to what many other systems - what I've considered normal - or big-endian. And if you start shifting that properly as a number then then shifting sequence in the bytes is a bit strange, so it couldn't go the other way around - you couldn't implement bitwise shift with arithmetic, so we chose to make them bitwise operators - that's what we proposed.
Steve: 0:31:10.57,0:31:51.51
That was essentially a decision that was actually made in May, or rather a consequence of decisions that were made in May. So in May we reintroduced OP_AND, OP_OR, and OP_XOR, and that was also another decision to replace three different string operators with OP_SPLIT was also made. So that was not a decision that we've made unilaterally, it was a decision that was made collectively with all of the BCH developers - well not all of them were actually in all of the meetings, but they were all invited.
Daniel: 0:31:48.24,0:32:23.13
Another example of that is that we originally proposed OP_2DIV and OP_2MUL was it, I think, and this is a single operator that multiplies the value by two, right, but it was pointed out that that can very easily be achieved by just doing multiply by two instead of having a separate operator for it, so we scrapped those, we took them back out, because we wanted to keep the number of operators minimum yeah.
Steve: 0:32:17.59,0:33:47.20
There was an appetite around for keeping the operators minimal. I mean the decision about the idea to replace OP_SUBSTR, OP_LEFT, OP_RIGHT with OP_SPLIT operator actually came from Gavin Andresen. He made a brief appearance in the Telegram workgroups while we were working out what to do with May opcodes and obviously Gavin's word kind of carries a lot of weight and we listen to him. But because we had chosen to implement the May opcodes (the bitwise opcodes) and treat the data as big-endian data streams (well, sorry big-endian not really applicable just plain data strings) it would have been completely inconsistent to implement LSHIFT and RSHIFT as integer operators because then you would have had a set of bitwise operators that operated on two different kinds of data, which would have just been nonsensical and very difficult for anyone to work with, so yeah. I mean it's a bit like P2SH - it wasn't a part of the original Satoshi protocol that once some things are done they're done and you know if you want to want to make forward progress you've got to work within that that framework that exists.
Daniel: 0:33:45.85,0:34:48.97
When we get to the big number ones then it gets really complicated, you know, number implementations because then you can't change the behavior of the existing opcodes, and I don't mean OP_MUL, I mean the other ones that have been there for a while. You can't suddenly make them big number ones without seriously looking at what scripts there might be out there and the impact of that change on those existing scripts, right. The other the other point is you don't know what scripts are out there because of P2SH - there could be scripts that you don't know the content of and you don't know what effect changing the behavior of these operators would mean. The big number thing is tricky, so another option might be, yeah, I don't know what the options for though it needs some serious thought.
Steve: 0:34:43.27,0:35:24.23
That’s something we've reached out to the other implementation teams about - actually really would like their input on the best ways to go about restoring big number operations. It has to be done extremely carefully and I don't know if we'll get there by May next year, or when, but we’re certainly willing to put a lot of resources into it and we're more than happy to work with BU or XT or whoever wants to work with us on getting that done and getting it done safely.
Connor: 0:35:19.30,0:35:57.49
Kind of along this similar vein, you know, Bitcoin Core introduced this concept of standard scripts, right - standard and non-standard scripts. I had pretty interesting conversation with Clemens Ley about use cases for “non-standard scripts” as they're called. I know at least one developer on Bitcoin ABC is very hesitant, or kind of pushed back on him about doing that and so what are your thoughts about non-standard scripts and the entirety of like an IsStandard check?
Steve: 0:35:58.31,0:37:35.73
I’d actually like to repurpose the concept. I think I mentioned before multi-threaded script validation and having some dedicated well-known script templates - when you say the word well-known script template there’s already a check in Bitcoin that kind of tells you if it's well-known or not and that's IsStandard. I'm generally in favor of getting rid of the notion of standard transactions, but it's actually a decision for miners, and it's really more of a behavioral change than it is a technical change. There's a whole bunch of configuration options that miners can set that affect what they do what they consider to be standard and not standard, but the reality is not too many miners are using those configuration options. So I mean standard transactions as a concept is meaningful to an arbitrary degree I suppose, but yeah I would like to make it easier for people to get non-standard scripts into Bitcoin so that they can experiment, and from discussions of I’ve had with CoinGeek they’re quite keen on making their miners accept, you know, at least initially a wider variety of transactions eventually.
Daniel: 0:37:32.85,0:38:07.95
So I think IsStandard will remain important within the implementation itself for efficiency purposes, right - you want to streamline base use case of cash payments through them and prioritizing. That's where it will remain important but on the interfaces from the node to the rest of the network, yeah I could easily see it being removed.
Cory: 0,0:38:06.24,0:38:35.46
*Connor mentioned that there's some people that disagree with Bitcoin SV and what they're doing - a lot of questions around, you know, why November? Why implement these changes in November - they think that maybe the six-month delay might not cause a split. Well, first off what do you think about the ideas of a potential split and I guess what is the urgency for November?
Steve: 0:38:33.30,0:40:42.42
Well in November there's going to be a divergence of consensus rules regardless of whether we implement these new op codes or not. Bitcoin ABC released their spec for the November Hard fork change I think on August 16th or 17th something like that and their client as well and it included CTOR and it included DSV. Now for the miners that commissioned the SV project, CTOR and DSV are controversial changes and once they're in they're in. They can't be reversed - I mean CTOR maybe you could reverse it at a later date, but DSV once someone's put a P2SH transaction into the project or even a non P2SH transaction in the blockchain using that opcode it's irreversible. So it's interesting that some people refer to the Bitcoin SV project as causing a split - we're not proposing to do anything that anyone disagrees with - there might be some contention about changing the opcode limit but what we're doing, I mean Bitcoin ABC already published their spec for May and it is our spec for the new opcodes, so in terms of urgency - should we wait? Well the fact is that we can't - come November you know it's bit like Segwit - once Segwit was in, yes you arguably could get it out by spending everyone's anyone can spend transactions but in reality it's never going to be that easy and it's going to cause a lot of economic disruption, so yeah that's it. We're putting out changes in because it's not gonna make a difference either way in terms of whether there's going to be a divergence of consensus rules - there's going to be a divergence whether whatever our changes are. Our changes are not controversial at all.
Daniel: 0:40:39.79,0:41:03.08
If we didn't include these changes in the November upgrade we'd be pushing ahead with a no-change, right, but the November upgrade is there so we should use it while we can. Adding these non-controversial changes to it.
Connor: 0:41:01.55,0:41:35.61
Can you talk about DATASIGVERIFY? What are your concerns with it? The general concept that's been kind of floated around because of Ryan Charles is the idea that it's a subsidy, right - that it takes a whole megabyte and kind of crunches that down and the computation time stays the same but maybe the cost is lesser - do you kind of share his view on that or what are your concerns with it?
Daniel: 0:41:34.01,0:43:38.41
Can I say one or two things about this – there’s different ways to look at that, right. I'm an engineer - my specialization is software, so the economics of it I hear different opinions. I trust some more than others but I am NOT an economist. I kind of agree with the ones with my limited expertise on that it's a subsidy it looks very much like it to me, but yeah that's not my area. What I can talk about is the software - so adding DSV adds really quite a lot of complexity to the code right, and it's a big change to add that. And what are we going to do - every time someone comes up with an idea we’re going to add a new opcode? How many opcodes are we going to add? I saw reports that Jihan was talking about hundreds of opcodes or something like that and it's like how big is this client going to become - how big is this node - is it going to have to handle every kind of weird opcode that that's out there? The software is just going to get unmanageable and DSV - that was my main consideration at the beginning was the, you know, if you can implement it in script you should do it, because that way it keeps the node software simple, it keeps it stable, and you know it's easier to test that it works properly and correctly. It's almost like adding (?) code from a microprocessor you know why would you do that if you can if you can implement it already in the script that is there.
Steve: 0:43:36.16,0:46:09.71
It’s actually an interesting inconsistency because when we were talking about adding the opcodes in May, the philosophy that seemed to drive the decisions that we were able to form a consensus around was to simplify and keep the opcodes as minimal as possible (ie where you could replicate a function by using a couple of primitive opcodes in combination, that was preferable to adding a new opcode that replaced) OP_SUBSTR is an interesting example - it's a combination of SPLIT, and SWAP and DROP opcodes to achieve it. So at really primitive script level we've got this philosophy of let's keep it minimal and at this sort of (?) philosophy it’s all let's just add a new opcode for every primitive function and Daniel's right - it's a question of opening the floodgates. Where does it end? If we're just going to go down this road, it almost opens up the argument why have a scripting language at all? Why not just add a hard code all of these functions in one at a time? You know, pay to public key hash is a well-known construct (?) and not bother executing a script at all but once we've done that we take away with all of the flexibility for people to innovate, so it's a philosophical difference, I think, but I think it's one where the position of keeping it simple does make sense. All of the primitives are there to do what people need to do. The things that people don't feel like they can't do are because of the limits that exist. If we had no opcode limit at all, if you could make a gigabyte transaction so a gigabyte script, then you can do any kind of crypto that you wanted even with 32-bit integer operations, Once you get rid of the 32-bit limit of course, a lot of those a lot of those scripts come up a lot smaller, so a Rabin signature script shrinks from 100MB to a couple hundred bytes.
Daniel: 0:46:06.77,0:47:36.65
I lost a good six months of my life diving into script, right. Once you start getting into the language and what it can do, it is really pretty impressive how much you can achieve within script. Bitcoin was designed, was released originally, with script. I mean it didn't have to be – it could just be instead of having a transaction with script you could have accounts and you could say trust, you know, so many BTC from this public key to this one - but that's not the way it was done. It was done using script, and script provides so many capabilities if you start exploring it properly. If you start really digging into what it can do, yeah, it's really amazing what you can do with script. I'm really looking forward to seeing some some very interesting applications from that. I mean it was Awemany his zero-conf script was really interesting, right. I mean it relies on DSV which is a problem (and some other things that I don't like about it), but him diving in and using script to solve this problem was really cool, it was really good to see that.
Steve: 0:47:32.78,0:48:16.44
I asked a question to a couple of people in our research team that have been working on the Rabin signature stuff this morning actually and I wasn't sure where they are up to with this, but they're actually working on a proof of concept (which I believe is pretty close to done) which is a Rabin signature script - it will use smaller signatures so that it can fit within the current limits, but it will be, you know, effectively the same algorithm (as DSV) so I can't give you an exact date on when that will happen, but it looks like we'll have a Rabin signature in the blockchain soon (a mini-Rabin signature).
Cory: 0:48:13.61,0:48:57.63
Based on your responses I think I kinda already know the answer to this question, but there's a lot of questions about ending experimentation on Bitcoin. I was gonna kind of turn that into – with the plan that Bitcoin SV is on do you guys see like a potential one final release, you know that there's gonna be no new opcodes ever released (like maybe five years down the road we just solidify the base protocol and move forward with that) or are you guys more on the idea of being open-ended with appropriate testing that we can introduce new opcodes under appropriate testing.
Steve: 0:48:55.80,0:49:47.43
I think you've got a factor in what I said before about the philosophical differences. I think new functionality can be introduced just fine. Having said that - yes there is a place for new opcodes but it's probably a limited place and in my opinion the cryptographic primitive functions for example CHECKSIG uses ECDSA with a specific elliptic curve, hash 256 uses SHA256 - at some point in the future those are going to no longer be as secure as we would like them to be and we'll replace them with different hash functions, verification functions, at some point, but I think that's a long way down the track.
Daniel: 0:49:42.47,0:50:30.3
I'd like to see more data too. I'd like to see evidence that these things are needed, and the way I could imagine that happening is that, you know, that with the full scripting language some solution is implemented and we discover that this is really useful, and over a period of, like, you know measured in years not days, we find a lot of transactions are using this feature, then maybe, you know, maybe we should look at introducing an opcode to optimize it, but optimizing before we even know if it's going to be useful, yeah, that's the wrong approach.
Steve: 0:50:28.19,0:51:45.29
I think that optimization is actually going to become an economic decision for the miners. From the miner’s point of view is if it'll make more sense for them to be able to optimize a particular process - does it reduce costs for them such that they can offer a better service to everyone else? Yeah, so ultimately these decisions are going to be miner’s main decisions, not developer decisions. Developers of course can offer their input - I wouldn't expect every miner to be an expert on script, but as we're already seeing miners are actually starting to employ their own developers. I’m not just talking about us - there are other miners in China that I know have got some really bright people on their staff that question and challenge all of the changes - study them and produce their own reports. We've been lucky with actually being able to talk to some of those people and have some really fascinating technical discussions with them.
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CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

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When Should You Invest in Crypto? Why?

When Should You Invest in Crypto? Why?
Unscrambling Crypto
https://preview.redd.it/sayef0ibsky31.jpg?width=284&format=pjpg&auto=webp&s=f78119257e4682f499ee8e4bed54003b12be094e
This diary recounts to the genuine story of a generally customary person and his far-fetched escape from corporate America. Conway's adventure begins as this ordinarily corporate representative chooses to surrender the crush to go 'in with no reservations' on Ether, the cryptographic money of the Ethereum blockchain which he guarantees is better than the much acclaimed Bitcoin.
What makes this story intriguing isn't only that Dan winds up putting everything on the table (his home, his future and his family's) to put resources into Ether. It is likewise not just intriguing in light of the fact that his wager winds up turning out, after many high points and low points, and he leaves taking millions.
Makes this story captivating that Dan didn't put resources into crypto exclusively on account of the cash. He contributed in light of the fact that he had a conviction that decentralization would some time or another give an option in contrast to the organizations that currently run the economy.
You may have been pondering crypto. Would it be a good idea for you to contribute now? What are the major rules that make you a "decent crypto financial specialist"? This post separates the reasons that could assist you with choosing if "crypto" is for you or not.
Does change make a difference?! Investigate This.
In spite of the thrilling business sector swing features in the press, actually standard markets regularly just vacillate by 1 or 2% every day. The normal financial specialist's portfolio once in a while gets influenced by such swings: most close to home speculators consider the market's long haul possibilities.
Crypto showcase moves look like the standard market, yet on steroids. Consider these details:
On June 25 2019, Ether's cost was $335.10. On July 16, it was worth $205.86. That is a 40% worth drop in 21 days.
On February 7 2019, Bitcoin was worth $3451.55. On July ninth, it cost $12,647,99. That is a 3.6X development in around 150 days.
Putting resources into crypto requires an alternate conviction framework. Conway condenses it best on page 211: "crypto isn't a venture, it's a conviction framework". Furthermore, that establishment will enable you to build up another resistance level for "extremely low" lows and possibly "exceptionally high highs".
His voyage included days when he was up $1M and days when he was down $500,000 (recollect that he put EVERYTHING into crypto: his reserve funds, his line-of-credit...etc). Indeed, even he doesn't suggest doing that.
All that You've Always Wanted to Know about Crypto and More
To assist you with thoroughly considering your choice to put resources into Crypto (or Not), I reached Dan Conway and requested that he give me his standards of thumbs for crypto speculation. Here they are. Once more. He's not a monetary guide. What's more, nor am I. Try not to utilize the beneath to settle on venture choices.
Don't just hear me out (or any one individual). You shouldn't contribute a penny until you've invested energy instructing yourself on the space. Jump on the web and start burrowing around on Twitter, Reddit and news destinations like CoinDesk. Contextualize the abbreviations (sounds fun!). You don't have to learn everything, except the initial step before contributing your fortune is to comprehend the wide blueprints of the crypto world, its way of life, the innovation and what it guarantees for what's to come. What's more, obviously, the dangers.
Pick your ponies cautiously. This space is loaded up with very hopeful individuals pitching coins that guarantee to reform the world. Some may succeed. Most will fall flat. There are as yet numerous tricks out there, effectively taking from individuals with bogus cases and plans to exit with financial specialists' assets. All things considered, there are numerous coins that are undeniably not tricks, with enormous improvement behind them, and heaps of tenable individuals who have faith in them. The enormous measure of designers taking a shot at the Ethereum blockchain may be engaging for instance.
A word about Market Cap. Market capitalization (or "market top") isn't simply founded on the estimation of a solitary coin. It's additionally influenced by the absolute number of coins available for use. Just twenty one million Bitcoins will ever be made. The crypto you may claim could have a dissemination of 100 billion coins. Invest enough energy learning the wide parameters, so you don't commit a newbie error, at that point mope off into the nightfall when you are REKT (crypto image showing losing the entirety of your cash and fierceness stopping your Coinbase account).
The genuine criticalness of Libra. Dan has questions that Facebook's proposed digital money, Libra, will ever dispatch. He says that his proposed engineering is an intriguing blend of unified and decentralized advances" enough decentralization for controllers to make a ruckus and enough centralization for crypto lovers to spit on it". He proceeds "truly, who needs Mark Zuckerberg anyplace close to their cash (sorry, Zuck!)". In any case, he concurs that Libra shows how far crypto has come in the a long time since Satoshi Nakamoto designed Bitcoin in 2009. He finishes up: "Libra will fall flat, yet it shows that the advantages of crypto are perceived by everybody, including the huge tech occupants like Facebook who will one day be upset by dApps (decentralized applications) that are constrained by the clients of the administration, not a couple of very rich people in the meeting room."
Unpredictability and different revulsions. "Lock in!", Conway cautions. "Cryptographic forms of money fall more remote than you can envision, and afterward shoot up in cost so quick, it resembles you are living in a fantasy. On the off chance that this weren't sufficient, security is basically significant. Hacks occur. Fortunately, on the off chance that you pursue best practices, which can be effectively found effectively on many regarded locales, you will be OK. In any case, let's be honest, it's somewhat terrifying to realize that you are answerable for your very own coins in the event that you decide to keep them yourself"
After some time, as care arrangements develop, greater organizations and all the more retail financial specialists add this rising advantage for their portfolios, the unpredictability and threat of holding crypto will diminish. At the end of the day crypto may even now be a lot for you and each peruser should make sense of it for oneself.
Laborers were gotten some information about the elements that issue most for by and large occupation quality on pay, including employer stability, open door for progression, advantages, dependability, and poise. Consolidating those elements prompted the production of a file of employment fulfillment. Of course, individuals that would do well to employments over the rundown of markers additionally would in general have higher paces of life fulfillment.
The examination, Not Just a Job: New Evidence on the Quality of Work in the United States, found that 44 percent of laborers studied said they had "unremarkable" employments while 16 percent said they are in "terrible" occupations.
Considering it The Great Jobs Study, it fuses American specialists' perspectives hands on qualities well on the way to assist them with having better existences in the midst of changing work economic situations. What's more, it reflects past outcomes discovering pay as vital to any talk of occupation quality in America.
Key discoveries from the investigation include:
Not exactly 50% of U.S. laborers are in steady employments and occupation quality is firmly identified with personal satisfaction. While most specialists in great and fair employments rate their general personal satisfaction as "high," a large portion of those in awful occupations don't.
Pay imbalance converts into disparity in work quality over each measurement. Lower-pay laborers are substantially less prone to be happy with each of the 10 parts of employment quality remembered for the steady employments measure — including those random to salary. In this manner, pay imbalance relates with various encounters that span a long ways past pay, including self-governance and the pride related with having a great job. More established specialists, white laborers and those with significant levels of training are bound to be in steady employments than different sorts of laborers.
Laborers at all salary levels by and large concur on the activity quality measurements generally essential to them. Making the most of one's work and having a feeling of direction are extensively organized; scarcely any laborers need their business circumstance to be "only an occupation."
Race, ethnicity, and sex are emphatically connected with work quality. The probability of working in a fortunate or unfortunate activity shifts altogether crosswise over racial and other statistic gatherings, with normal employment quality higher among more established laborers, white specialists and those with more training.
Most specialists state their degree of pay has improved as of late, however that different elements of occupation quality have not. Another disturbing sign for work quality is that businesses are less inclined to offer benefits presently contrasted with the ongoing past. The portion of grown-ups matured 18 to 64 who are secured by private protection tumbled to 61% in 2016, down from 69% in 2000 and 72% in 1980. This decrease in manager inclusion comes during a period of raising human services costs and has put more weight on the open area to fill the hole.
Where you live issues more than the amount you make. Laborers in rustic territories and communities give higher occupation quality evaluations regardless of lower normal livelihoods, in spite of the fact that the probability of having a great job shifts little by locale of the nation. Laborers in the Midwest have the most elevated in general employment quality score, to a great extent since they are the to the least extent liable to be in an awful activity contrasted with different districts. Many may expect that laborers living in for the most part country regions outside of metropolitan territories would be increasingly negative overall about their business circumstance, however 45% are in steady employments — well over the national normal — and just 11% are in awful occupations. As a rule, laborers outside of metro zones and those in littler metro zones will in general give to some degree higher occupation quality appraisals than laborers in enormous metro zones, notwithstanding their essentially lower normal livelihoods.
Laborers are bound to have steady employments in the event that they work for bigger associations and are in jobs that enable them to be innovative, adapt new abilities and do their best work.
Laborers in low-quality occupations are more averse to be fulfilled and bound to be effectively searching for another activity.
66% of U.S. laborers state they are as of now in their "best occupation ever." Workers' view of how different parts of employment quality are changing in their working lives bring up a significant issue: Is the standard profession life cycle — which accept individuals move into dynamically better occupations until they resign — working? This is the place things give off an impression of being evolving. Shockingly, the rate who state they are in their best occupation ever starts to decrease at a moderately youthful age — laborers matured 35 to 44 are more outlandish than those matured 25 to 34 to feel along these lines (66% versus 72%, individually). Moderately aged and more established specialists are not just more averse to work in their best employment ever, however the individuals who are not are bound to state they were laid off from that activity (that is, let go for reasons outside their ability to control, for example, cutting back). Laborers laid off from their best employment ever may encounter negative budgetary conditions, as research appears, yet in addition could be in danger for mental or other medical issues.
Employment quality shifts methodicallly by sort of occupation (all day, low maintenance, different), association size, kind of work, occupation, and segment. A few different conditions are related with laborers' probability to be in top notch occupations — including the measure of time committed to work, the size of their manager, the nature of their work and the quantity of employments they have. Full-time representatives (those working 35 hours or more) are altogether bound to be in a great job (42%) than low maintenance workers (30%). Notwithstanding, the information additionally recommend that an excess of work is an impediment to work quality.
I don't get it's meaning?
Since most Americans feel that they are recognized by their occupations or callings, individuals will in general contribute a lot of time and vitality into their working lives. Also the need to help their families. During this season of low joblessness, the examination finds that laborers in awful occupations are generally twice as likely as those in steady employments to search for new work, and multiple times bound to be both unsatisfied and searching for a new position. Fulfilled laborers will in general be increasingly profitable and faithful to their managers. So unmistakably, work quality is significant — to laborers' budgetary prosperity, however to the general personal satisfaction. More Cryptocurrency info you can have a view on https://www.m8x.com.
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End of day summary - 03/07

The Dow fell 200.23, or 0.78%, to 25,473.23 , the Nasdaq lost 84.46, or 1.13%, to 7,421.46 , and the S&P 500 declined 22.52, or 0.81%, to 2,748.93.
The S&P 500 lost 0.8% on Thursday, as a negative economic outlook from the European Central Bank (ECB) helped fuel growth concerns and profit-taking interest. Thursday's risk-off mindset was made apparent by the underperformance of cyclical sectors and the flight-to-safety trade in the U.S. Treasury market where the 10-yr yield dropped six basis points to 2.64%.
There was little in the way of a catalyst, so stocks continued to endure their worst weekly performance of the year. The Dow and S&P finished lower for the seventh time in the past eight days. Investors may have been looking forward to tomorrow’s monthly jobs data, but they are also growing weary waiting for news on the trade talks with China despite the next scheduled meeting not occurring until the end of the month. A technical violation of the S&P 500's and Nasdaq Composite's 200-day moving averages also contributed to some selling interest; both closed below that key technical level.
10 of the 11 S&P 500 sectors finished lower with consumer discretionary (-1.4%), financials (-1.1%), and information technology (-0.9%) leading the retreat. Conversely, the utilities sector (+0.3%) was the lone group to finish higher.
In the U.S., initial jobless claims fell 3,000 to 223,000 in the week ended March 2. Q4 productivity grew at a 1.9% pace, which was a little firmer than expected.
In Trump news, CNBC reported that Michael Cohen, former lawyer and fixer for U.S. President Donald Trump, has filed a lawsuit against the Trump Organization, alleging his former company has filed to pay "fees and costs" owed to him.
TSLA was in focus following two separate reports, including one from CNBC saying that securities lawyers are claiming that CEO Elon Musk could face large fines and potential suspension as CEO for recent activity on Twitter that federal authorities said violated his September 29 agreement with the U.S. Securities and Exchange Commission. In addition, Bloomberg reported that the Pentagon is reviewing Musk's federal security clearance after he smoked marijuana on Joe Rogan's podcast in September. TSLA shares gained AH after a new filing showed a loan worth around $500M for use in China.
AGN said a new experimental treatment for major depression failed in three late-stage studies, and the drugmaker added that it was "deeply disappointed" in the results. David Tepper's Appaloosa hedge fund, which has been pressuring the board of Allergan for changes, said "this latest fiasco" should "make apparent to all that the company's 'Open Science' business model is broken." Shares of Allergan closed 4% higher.
Meanwhile, Reuters reported that the SEC is investigating whether the multi-tiered pricing system used by stock exchanges, including Intercontinental Exchange (ICE) and Nasdaq (NDAQ), favors big brokers at the expense of smaller ones.
In Europe, the ECB held its key interest rates unchanged and said it now expects the key rates to remain at their present levels at least through the end of 2019, which is later than its prior guidance for no change until at least this summer. The ECB also said a new series of quarterly targeted longer-term refinancing operations, or "TLTRO-III," will be launched, starting in September 2019 and ending in March 2021, that "will help to preserve favorable bank lending conditions and the smooth transmission of monetary policy." The timing served as a reinforcement of the concern that the global economy is weakening and that the U.S. market has gotten ahead of itself pricing in a more upbeat growth outlook that isn't being corroborated with falling earnings estimates.
Among the noteworthy gainers was YEXT, which rose 10% after it reported quarterly results and said it plans to hire over 200 employees in Germany over the next five years. Also higher after reporting quarterly results was GWRE, which gained 4%.
Among the notable losers was WBA which fell 2.1% on concerns over potential increased regulatory pressures after the Food and Drug Administration called the company the top violator among pharmacies illegally selling tobacco products to minors. Among the notable losers after reporting quarterly results were TWI and BURL, which fell 22% and 12%, respectively. Also lower was KR, which fell 10% after the grocery store operator reported worse than expected sales and profits for the fourth quarter and gave lower than expected fiscal year guidance.
Shares in Asia were mixed on Thursday following a third consecutive day of losses on Wall Street as investors sought developments on the state of U.S.-China trade negotiations. Meanwhile, U.S. tensions with China reached new heights as Chinese tech giant Huawei filed a lawsuit against the U.S. on Thursday. European stocks retreated, with the Stoxx Europe 600 down 0.4%.

Currency

The euro fell sharply against the dollar Thursday after the European Central Bank (ECB) unveiled a series of market-friendly policies amid a slew of rising risks.

Treasury

U.S. Treasuries saw a continuation of their recent strength on Thursday, registering solid gains across the curve. Treasuries started the cash session on a modestly higher note and accelerated their advance after the European Central Bank released a dovish statement, which served as an acknowledgement of slowing growth in the eurozone. It was not a surprise that the ECB made no changes to its interest rate corridor, but the central bank also said that it intends to keep rates at their current levels throughout 2019, which is about three months longer than what was stated in its previous guidance.

Commodity

Oil prices rose in choppy trade on Thursday, as the market continues to draw support from ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran.

Crypto

Cryptocurrency markets have recorded moderate gains and losses on the day, with Binance Coin (BNB) being the major gainer on the day. The leading cryptocurrency Bitcoin (BTC) started the day around $3,901, subsequently reaching its intraday high of $3,938.

YTD

  • Russell +13.0% YTD
  • Nasdaq +11.9% YTD
  • Spoos +9.7% YTD
  • Dow +9.2% YTD

AH news

  • COST Q2 Rev $35.40Bln Est 35.68Bln, Q2 EPS $2.01 vs $1.69 exp. Up 4%
  • EB Q4 EPS $(0.17) Misses $(0.13) Estimate. Down 20%

What's tomorrow?

investors will receive the Employment Situation Report for February and the Housing Starts and Building Permits Report for January on Friday.
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Ethereum Update - YouTube BITCOIN TO DROP BEFORE SURGE? Energi NRG Updates  V-ID Vote For Binance  Electroneum ETN on BIKI Bitcoin Drop Today 1-30-18 What will be in February 2018? Bitcoin: Here today, gone tomorrow? A BITCOIN PRICE DROP YOU SHOULD BE READY FOR

Bitcoin: Steht der Ausbruch aus dem langen Seitwärtstrend kurz bevor? So sieht die Lage momentan aus 22.07.20, 13:00 onvista Bitcoin, Ethereum, Litecoin, thoughts from an investment enthusiast who started trading stocks in fractions at the age of 8 and lived thru Dot.com Bubble #1 and The Great Recession. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. Crossing below the $9,000 price level is a new low for February 2020. Bitcoin has not traded below the $9,000 threshold since January 27, when it began a march to new highs in the $10,500 range. Coinbase, another popular exchange, shows a similar drop in activity. In January, the exchange processed a little over $1 billion worth of Bitcoin to USD trades – dramatically lower than the $8 ...

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Ethereum Update - YouTube

Your best source for education regarding ethereum, bitcoin, and other technologies that will shape our collective FUTURE! This channel also includes videos r... This video is unavailable. Watch Queue Queue. Watch Queue Queue Bitcoin Drop Today 1-30-18 What will be in February 2018? Edgar Gabriel. Loading... Unsubscribe from Edgar Gabriel? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 9.22K. Loading ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Bitcoin could be on verge of strong bull run, despite its 10% crash. As aforementioned, Bitcoin, from its peak on Feb. 19, dropped just around 10 percent. This, of course, was shocking; the golden ...

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