crypto currency discussion

[MeanPeopleSuck]

should we sell BTG as soon as it appears in our account? Won't everybody be doing that?

Unless it's completely valueless, that's what I'll be looking to do. An interesting complication is that after the August fork to BCH, people could sell their BCH BEFORE they could move it. That meant each exchange had its own, isolated BCH market which led to massively different prices: https://www.sportsbookreview.com/for...x-opinion.html

If that happens again, it means that where we hold our BTC for the fork and how soon that exchange gets us our BTG, might become really important issues.

Heh, or BTG might turn out to be worth ten bucks per bitcoin or something, in which case it's hardly even worth selling.

[swordsandtequila]

[Otters27]

Ether rising

[firekillex]

bitcoin flyinnnnnnnnn

just need IOTA to step up, i like the future for this alt coin, surprised its dropping right now ...
NEO to the moon soon as well

[puckk]

Julian Assange publicly thanks the US Govt for making him invest in Bitcoin in 2010 - now boasting a 50,000% return.

https://cointelegraph.com/news/julian-assange-thanks-us-government-senators-for-forced-bitcoin-investment

[ChuckyTheGoat]

MPS, I don't believe in the Eiffel Tower theory. IE, steep incline followed by steep decline. That's just something a guy made up.

I like Bitcoin. I think the key is continuing to find ways to use it, whereby you're bypassing the middleman. I'm optimistic.

[MeanPeopleSuck]

MPS, I don't believe in the Eiffel Tower theory. IE, steep incline followed by steep decline. That's just something a guy made up.

I like Bitcoin. I think the key is continuing to find ways to use it, whereby you're bypassing the middleman. I'm optimistic.

Hey, Chucky, how's tricks? I'm w/ ya, there. I'm a long term believer in BTC. My view also echoes yours that the first kingdom we need to conquer is cred!t cards. BTC offers multiple advantages to retailers over cc's: there's no chargebacks and there's no fees (cc's have both).

The 3 largest cc companies have a combined market cap of about $500 billion. If bitcoin could snag that, each coin would price around $30,000, and that's before even considering the other value adding factors -- the digital gold aspect, the silk road 3 aspect (as a currency for grey and black mkt transactions) and the speed and ease of sending btc, so no more w union / m0neygram, etc.

But BTC's insane volatility means it exists in a permanent cycle of spikes and crashes, and while I love and respect all HODLers, my own experience has been that buying the crashes and selling the spikes is a more profit maximizing approach.

[ChuckyTheGoat]

MPS, I love educating myself on this stuff. Yes, the volatility can be maddening. But I have thick skin, and I don't have all my eggs in one basket.

[raiders72001]

Keep an eye on ETH. It's been rising because of the Byzantium fork. There is one more fork to come.

[raiders72001]

MPS, I don't believe in the Eiffel Tower theory. IE, steep incline followed by steep decline. That's just something a guy made up.

I like Bitcoin. I think the key is continuing to find ways to use it, whereby you're bypassing the middleman. I'm optimistic.

I'm with you. I'm happy that the price increases but sooner or later we need stabilization for BTC to become mainstream.

[Otters27]

Keep an eye on ETH. It's been rising because of the Byzantium fork. There is one more fork to come.

Down to 325. Good time to buy Ether?

[puckk]

Bitcoin Exchange Bitfinex Gives US Customers the Boot Blaming Regulations

https://cointelegraph.com/news/bitcoin-exchange-bitfinex-gives-us-customers-the-boot-blaming-regulations

[puckk]

Bitcoin, Altcoin Exchange Bittrex Eyed With Suspicion Due to Thousands of Mysterious Account Closings

https://cointelegraph.com/news/bitcoin-altcoin-exchange-bittrex-eyed-with-suspicion-due-to-thousands-of-mysterious-account-closings

[QuantumLeap]

Down to 325. Good time to buy Ether?

I wouldn't touch ETH but that's just me. It hit a high in June of this year and it's been downhill ever since. Each "rally" in price has been lower than the previous.

That's not to say it won't bounce up in the future. I'll leave that for someone more in tune to such things to decide. I'm not going to try to time that rally. Timing in things like this has been my ruin in the past.

[puckk]

assange https://www.facebook.com/cnbccrypto/...1937845556123/

[milwaukee mike]

I'm with you. I'm happy that the price increases but sooner or later we need stabilization for BTC to become mainstream.

i think stabilization of the exchanges would be more important than price stabilization

i know i'm not the only one that has gotten fed up with customer service and other issues... mt gox stole my bitcoin, then circle quit doing transactions, then coinbase locked me out, then kraken wouldn't let me do wire transfers

if there was an easy, serious company committed to bitcoin trading then it would be a much better sell to the mainstream. what am i supposed to tell my clients? hey you can pay me with bitcoin! but the transactions take too long and there's no customer service when something goes wrong! step right up lol

[puckk]

Bitcoin just surged above $6,000, a record
https://www.cnbc.com/2017/10/20/bitc...s-of-6000.html

[firekillex]

i see BITCOIN did another hard fork into Bitcoin Gold this week...

can we claim free Bitcoin Gold in our wallets like how Bitcoin Cash was done before ????

[MeanPeopleSuck]

i see BITCOIN did another hard fork into Bitcoin Gold this week...

can we claim free Bitcoin Gold in our wallets like how Bitcoin Cash was done before ????

It depends on which wallet you're in. If your BTC is at Bittrex or Bitfinex, you'll automatically be awarded BTG without having to do anything.

If your BTC is at Electrum or another private wallet, see this thread: https://www.sportsbookreview.com/for...-gold-btg.html

If your BTC is at another exchange, the outlook's pretty bleak, but it's worth asking the Support staff.

If your BTC was at a sportsbook like Nitro or Cloudbet, then, no, you're hosed.

[Chi_archie]

regarding the other Bitcoin/IRS/Coinbase discussion in players talk

if I have a small amount of bitcoin in coinbase, but never verified my account for buying/selling purposes with driver's license or ID, am I in the clear as far as taxes go?

[firekillex]

It depends on which wallet you're in. If your BTC is at Bittrex or Bitfinex, you'll automatically be awarded BTG without having to do anything.

If your BTC is at Electrum or another private wallet, see this thread: https://www.sportsbookreview.com/for...-gold-btg.html

If your BTC is at another exchange, the outlook's pretty bleak, but it's worth asking the Support staff.

If your BTC was at a sportsbook like Nitro or Cloudbet, then, no, you're hosed.

thanks for the response bro i appreciate it...
i actually have Exodus desktop wallet, this time it wasnt given i actually have to export my private keys after watching some youtube videos which can be dangerous apparently so i dont think im going to do it..... i may just wait for the next fork in mid november which i think will be supported on Exodus like Bitcoin Cash was


thoughts??

[MeanPeopleSuck]

regarding the other Bitcoin/IRS/Coinbase discussion in players talk

if I have a small amount of bitcoin in coinbase, but never verified my account for buying/selling purposes with driver's license or ID, am I in the clear as far as taxes go?

If you don't have any sales at Coinbase or GDAX (which is co-owned with CB), then you're probably OK. You only owe taxes on the profits you realize when you sell your crypto, so if they can't match your purchases to any sales, and the amount we're talking about is low enough that it isn't cost effective for them to take extra steps (like tracing your BTC to other accounts where they might find sales to match to your purchases), then you should be fine.

Still, though, best practice is to leave CB entirely and get yourself into some anonymous accounts.

[MeanPeopleSuck]

thanks for the response bro i appreciate it...
i actually have Exodus desktop wallet, this time it wasnt given i actually have to export my private keys after watching some youtube videos which can be dangerous apparently so i dont think im going to do it..... i may just wait for the next fork in mid november which i think will be supported on Exodus like Bitcoin Cash was


thoughts??

You're golden. Exodus is a private wallet, so you control the private keys to your wallet's receiving address/es. Here's a guide to access those private keys : http://support.exodus.io/article/86-...y-private-keys

When you get your private key all you have to do is wait. In a couple of weeks, after BTG goes live, you'll be able to exchange that key for an amount of BTG equal to the amount of BTC you had in your wallet at 9:30pm EST Monday night. When the BTG development team tells us exactly how to do that, I'll post it, so keep half an eye on SBR.

Oh, also, you don't have to keep your BTC in your Exodus wallet between now and then to claim your BTG. All you need to get your BTG is the private key, not the BTC that then resided at that key's address, so you're free to do what you want w/ your BTC.

[firekillex]

You're golden. Exodus is a private wallet, so you control the private keys to your wallet's receiving address/es. Here's a guide to access those private keys : http://support.exodus.io/article/86-...y-private-keys

When you get your private key all you have to do is wait. In a couple of weeks, after BTG goes live, you'll be able to exchange that key for an amount of BTG equal to the amount of BTC you had in your wallet at 9:30pm EST Monday night. When the BTG development team tells us exactly how to do that, I'll post it, so keep half an eye on SBR.

Oh, also, you don't have to keep your BTC in your Exodus wallet between now and then to claim your BTG. All you need to get your BTG is the private key, not the BTC that then resided at that key's address, so you're free to do what you want w/ your BTC.

So just go to exodus get my private key and when BTG goes live I can send my key and receive equal amount BTG to BTC owned... not sure why the YouTube videos were saying it wasn’t safe??? Is this 100% safe in your opinion

[Optional]

So just go to exodus get my private key and when BTG goes live I can send my key and receive equal amount BTG to BTC owned... not sure why the YouTube videos were saying it wasn’t safe??? Is this 100% safe in your opinion

How 'safe' it is relies on how secure the BTG groups software is mostly.

Easy options to help prevent any nasty surprises would be to not make any transactions for a few days around any fork. Leave others to be the guinea pigs basically. And also, once a fork has occurred transfer any bitcoin to a new wallet before importing that wallet to something BTG compatible as that way even if something does go wrong it can only be the BTG that you can lose and not any BTC.

[mrpapageorgio]

So just go to exodus get my private key and when BTG goes live I can send my key and receive equal amount BTG to BTC owned... not sure why the YouTube videos were saying it wasn’t safe??? Is this 100% safe in your opinion

Answered by optional.

[firekillex]

How 'safe' it is relies on how secure the BTG groups software is mostly.

Easy options to help prevent any nasty surprises would be to not make any transactions for a few days around any fork. Leave others to be the guinea pigs basically. And also, once a fork has occurred transfer any bitcoin to a new wallet before importing that wallet to something BTG compatible as that way even if something does go wrong it can only be the BTG that you can lose and not any BTC.

ya i understand, the price of BTG has already gone down so much im already considering not even bothering tbh.... i think ill take the wait and see approach like you suggested and weigh the pros and cons in the end..... i liked how bitcoin cash was done with exodus only took me 5 minutes to do and my BTC stayed in my wallet the entire time this seems more complicated

[shocka1212]

wouldn't be surprised if it spiked up to 6k by years end

[Optional]

ya i understand, the price of BTG has already gone down so much im already considering not even bothering tbh.... i think ill take the wait and see approach like you suggested and weigh the pros and cons in the end..... i liked how bitcoin cash was done with exodus only took me 5 minutes to do and my BTC stayed in my wallet the entire time this seems more complicated

This will probably work in a similar way with your wallet if it did for Bitcoin Cash. You might have to do nothing really.

The reason you want to hold off transactions at fork time is thatiof there are any holes in the new software, scammers may try to replay your transactions on the other fork of the blockchain and send your coins to themselves instead of wherever you tried to send them. But we should hear about this quickly after it starts happening, if it does.

It's not really as complex or as unsafe as some are suggesting. Worst case scenario there is some potential danger but reality should be a lot simpler.

[firekillex]

i just seen Bitcoin GOLD was at $500+ USD and now is already $137 USD per coin now....

but thanks for the info optional i appreciate it.. keep us posted when it drops and i may be interested to follow your lead

[MeanPeopleSuck]

ya i understand, the price of BTG has already gone down so much im already considering not even bothering tbh.... i think ill take the wait and see approach like you suggested and weigh the pros and cons in the end..... i liked how bitcoin cash was done with exodus only took me 5 minutes to do and my BTC stayed in my wallet the entire time this seems more complicated

Edited: hadn't seen Opti'd answered this already.

[BarkingToad]

Cryptocurrencies are the craft beers of money.

[firekillex]

Edited: hadn't seen Opti'd answered this already.

still would like to know your opinion amigo

[MeanPeopleSuck]

still would like to know your opinion amigo

Cool, cool, I'd just echo Opti's words and agree with your decision to wait.

If we just wait a few weeks or a month to get it, it'll be as easy to claim as BCH was for ya (and, who knows, by then maybe BTG will have proved us all wrong and actually be rising in price, although I'm not holding my breath).

[firekillex]

what are everybodys thoughts on the upcoming fork again for bitcoin2x??