Bitcoin / Cryptocurrency

SonOfSun

SonOfSun

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Defilade said:
Interesting for sure..

thephaser.com

Max Keiser: “There’s A Serious Bitcoin Shortage Developing!” | What it Means for Price of Bitcoin

from Simplified Finance: Max Keiser: “There’s A Serious Bitcoin Shortage Developing!” | What it Means for Price of Bitcoin VIDEO: Related: Michael Saylor Explains His Paradigm Shi…
thephaser.com thephaser.com
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No such thing as a bitcoin shortage. It has a hard cap on the maximum number that will ever be produced and this number is a known value, specifically 21 million.

In regards to your OP, yeah, I know a lot about crypto in general. Not so much buying, just selling, but they use the same marketplaces. I was a BTC OG back in 2011 mining ~1 BTC a day on a few racks of milk cartons filled with 5830s/5850s. Never thought a few milk crate PCs would have done what it did for me.
 
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spat

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BerettaGuy said:
Well, I learned a lesson today! I was transferring bitcoin into wallets for my grandkids. Every time you move it or sell it or buy it there are fees. Depending on the network you are on determines the fees. Ethereal is Very high. Now I was only transferring .00046 Bitcoin. I used the Trust Wallet and their fee was almost 8 dollars. Using Coinbase Pro, their fee was only $1.79 in fiat value. Needless to say I after paying 2 $7.79 dollar fees. I went with Coinbase for the remaining. It is really not much different than Credit Card Fees or ATM fees but they can vary wildly. Note, Coinbase fees are even more than coinbase pro so use pro whenever you can.
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If you have actual possession of the coin you can transfer it free. It just takes a long time for the global block chain to acknowledge the transfer.

I have a bunch with coinbase and some physically on my phone (with a backup wallet on my google drive).
 
SonOfSun

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spat said:
If you have actual possession of the coin you can transfer it free. It just takes a long time for the global block chain to acknowledge the transfer.

I have a bunch with coinbase and some physically on my phone (with a backup wallet on my google drive).
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I'd suggest storing your coins in your wallet.dat files only. Don't store them on third party services. Also, pre-encrypt your wallet files with a good key before storing them on a backup like google drive. What happens if someone gets into your google account (and thus google drive) and downloads your wallet file? If it's encrypted it you are almost certainly going to keep your crypto. If not then bets are off. Having your unencrypted wallet file is the same thing as them having your actual wallet in their hands.

Also, even if you transfer the coin using a bt client there are typically network fees. Yeah you can do it free I guess, but it's going to take a long long long time to transfer since miners are incentivized to prioritize sends with a fee attached.
 
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spat

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SonOfSun said:
I'd suggest storing your coins in your wallet.dat files only. Don't store them on third party services. Also, pre-encrypt your wallet files with a good key before storing them on a backup like google drive. What happens if someone gets into your google account (and thus google drive) and downloads your wallet file? If it's encrypted it you are almost certainly going to keep your crypto. If not then bets are off. Having your unencrypted wallet file is the same thing as them having your actual wallet in their hands.

Also, even if you transfer the coin using a bt client there are typically network fees. Yeah you can do it free I guess, but it's going to take a long long long time to transfer since miners are incentivized to prioritize sends with a fee attached.
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Depends on how much money you have in the wallet how much security makes sense.

Also, probably more bitcoins have been lost to people who were overly cautious and lost their keys than to the sort of hacking you are describing.

I bet the guy with $50 mil in bitcoin he only had on one hard drive that ended up in a landfill wishes he'd put a copy on some cloud server too.
 
SonOfSun

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BerettaGuy said:
AsBTC gains more acceptance and adoption, I am counting the hours until the Guberment steps in to get their share. After all, they are here to help.
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They already do. You pay the progressive tax rate bucket you fall into -or- cap. gains. It primarily depends on how long you have held the crypto.
 
BerettaGuy

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SonOfSun said:
They already do. You pay the progressive tax rate bucket you fall into -or- cap. gains. It primarily depends on how long you have held the crypto.
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Not if I don't sell it. But now they are talking about a wealth tax and new Cap Gains Rate. I don't know if they can change the rules mid year or will it have to go in 2022. If it does, I will be selling a lot of gains. Trump and Buffet may pay themselves a dollar in salary, That is what the typical Democrat and low information voters don't understand. Income vs Wealth. I have worked without interruption since 4 days after graduating high school. I had ups and downs but was able to save 20% of my income for the last 25 years of working. Now all of those savings were taxed. Now, they want to tax it again so they can have population control via abortion, gender studies, and transvestites recruiting in pre-schools. Come on Man! Didn't King George try to do the same thing?
 
BerettaGuy

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Doc8404 said:
Hmmmmm.
$2k invested in Doge.
now nearly $4k valued.

sell or hold. That’s the question.
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Congratulations. There is nothing wrong with putting in a Stop Limit Order at a level of you choosing.
Let say you put a Stop Limit on 3k If suddenly it falls to 3k you order triggers and you now have 3k in the bank. If it risied to 5 ka you cancell the order and put in a new one at 4k. and so on.

I never got into Doge, wishing i did.
 
Will556

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BerettaGuy said:
Congratulations. There is nothing wrong with putting in a Stop Limit Order at a level of you choosing.
Let say you put a Stop Limit on 3k If suddenly it falls to 3k you order triggers and you now have 3k in the bank. If it risied to 5 ka you cancell the order and put in a new one at 4k. and so on.

I never got into Doge, wishing i did.
Click to expand...
59FC0BD0-BD6F-4FCF-B33F-C932B83224C7.png
 
Doc8404

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I may do that to sell $1,500 worth. That way anything else is a gain. No losses.
damn short term capital gains tax though.
 
Doc8404

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holdover said:
Sell! dog coin is a joke coin, There is no cap to the supply of coins Look into it ASAP! looks like a pump and dump.
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holdover said:
Sell! dog coin is a joke coin, There is no cap to the supply of coins Look into it ASAP! looks like a pump and dump.
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I agree to a point.
If I don’t sell, we lose $1500. If I hang on and it turns into something, we are all moving to the same village down south LOL
 
Doc8404

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Well when idiots like Mark Cuban and Elon Musk are pushing Doge, I might as well go along for the ride.

it’s a joke. 6,000 percent since beginning of year
 
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