Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6103. (Read 26711875 times)
February 13, 2021, 05:46:28 PM
February 13, 2021, 05:40:54 PM
February 13, 2021, 05:26:26 PM
Indeed. I was just pointing out that the most relevant bit isn't "blockchain" in itself, but all the other cool properties we know, Byzantine generals etc.
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
yes, it should be referred to as bitcoin-technology. not blockchain-technology. in 5 years blockchain-technology will not be a term used anymore.
February 13, 2021, 05:23:48 PM
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
To be fair, I think a few use cases for blockchain technology exist - like cryptographically reliable timestamping of certain transactions. The shipment industry could be an example, or the stock market and the clearinghouses behind the curtains, where strict timing and prioritization of trades could be made transparent. The only important property is that you can't touch a past block without invalidating later ones.
However, such an unwieldy, inefficient, slow thing as a non-permissioned, fully distributed blockchain, with PoW, ...well, then of course there would be no need. Except for bitcoin
the problem is that the only thing that is unforgeable is the transaction history of the used decentralized token. the only thing that a bitcoin protocol can guarantee AND enforce is the genuineness of the token. it cannot enforce anything outside of the protocol. they are called token because all they can do is represent. the tokens can not be attached to any thing in the physical world. supply chains or transport chains cannot be trusted only because some software is used. a bad actor can always just betray the system, the software cannot enforce anything. the bitcoin protocol can enforce the the rules that make a bitcoin a bitcoin. this is a closed system. since it represents money (which is an abstract concept, that is why has so far reaching consequences) we get a money that is not forgeable, cannot be censored, etc, etc. the bitcoin protocol could not represent a container or an egg to make it a "honest" egg or container.
February 13, 2021, 05:17:52 PM
Indeed. I was just pointing out that the most relevant bit isn't "blockchain" in itself, but all the other cool properties we know, Byzantine generals etc.
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
I think that we can be done with ascribing innocence to their supposed outwardly showings of ignorance (and you probably are not even doing that d_eddie).
Sure there might be some folks who are really and truly ignorant, but there are likely a decent number of real and intentional efforts by higher level folks who know better to mislead other folks and get them distracted with a panoply of nonsense while missing the actual point about what it is that bitcoin provides that differentiates it from those various copy cats that don't even do a good job of actually copying the important aspects of bitcoin's characteristics (which admittedly is quite difficult to accomplish anyhow).
February 13, 2021, 04:51:13 PM
Any-pump ongoing
February 13, 2021, 04:46:54 PM
Indeed. I was just pointing out that the most relevant bit isn't "blockchain" in itself, but all the other cool properties we know, Byzantine generals etc.
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
MSM and WS need buzzwords to spread hype or FUD. Academia too. "Bitcoin" used to be unspeakable in certain circles, so they focused on this "blockchain" thing, but in most cases they're just as clueless today as they were when "blockchain" was the "real thing".
Then you see whole university departments with 'blockchain' in the name, and all they actually deal with is... permissionless, public, untrusted, PoW-based blockchain(s). They might as well call that 'Bitcoin studies' (capital B Bitcoin).
February 13, 2021, 04:43:36 PM
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
To be fair, I think a few use cases for blockchain technology exist - like cryptographically reliable timestamping of certain transactions. The shipment industry could be an example, or the stock market and the clearinghouses behind the curtains, where strict timing and prioritization of trades could be made transparent. The only important property is that you can't touch a past block without invalidating later ones.
However, such an unwieldy, inefficient, slow thing as a non-permissioned, fully distributed blockchain, with PoW, ...well, then of course there would be no need. Except for bitcoin
These use cases would also usually be acceptably served by a semi-trusted or federated model.
Another one is healthcare data. All of major hospital systems, and possibly EMR makers like Epic could run nodes and keep a copy of the distributed database.
There are not many use cases for a minimized trust distributed data model outside of the one...
February 13, 2021, 04:39:33 PM
-altcoin trash-
-more altcoin trash-
Everyone knows that most altcoins are trash but they are a way to accumulate more bitcoins. You can increase your bitcoins to x times by sensibly trading with the alts.
2017-18: blockchain not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
Alt coins are mainly here to take away your bitcoins be smart....
February 13, 2021, 04:33:25 PM
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
To be fair, I think a few use cases for blockchain technology exist - like cryptographically reliable timestamping of certain transactions. The shipment industry could be an example, or the stock market and the clearinghouses behind the curtains, where strict timing and prioritization of trades could be made transparent. The only important property is that you can't touch a past block without invalidating later ones.
However, such an unwieldy, inefficient, slow thing as a non-permissioned, fully distributed blockchain, with PoW, ...well, then of course there would be no need. Except for bitcoin
February 13, 2021, 04:31:49 PM
In Barron's newspaper.
I like the rocket image, remembering the picture I made when I was 9 years old....sad at that time I didn't know Bitcoin 🔥🚀Everyone knows that most altcoins are trash but they are a way to accumulate more bitcoins. You can increase your bitcoins to x times by sensibly trading with the alts.
February 13, 2021, 04:31:34 PM
-altcoin trash-
-more altcoin trash-
Everyone knows that most altcoins are trash but they are a way to accumulate more bitcoins. You can increase your bitcoins to x times by sensibly trading with the alts.
So fucking what?
We have already learned in this thread that giving any kind of inch to saying something somewhat nice about any shitcoin devolves into nonsense shitcoin pumpening - which needs to go to some other thread.
We have enough to talk about here in regards to the various ways of the world, what kind of lambo (or tesla) to buy, world politics, who had the slowest modem, and other dumbshit like that besides talking about king daddy.
2017-18: blockchain not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
At least you recognize that point. You are not a totally lost cause. Great. We (of course the Royal we) have something to work with.
February 13, 2021, 04:28:12 PM
February 13, 2021, 03:53:57 PM
-altcoin trash-
-more altcoin trash-
Everyone knows that most altcoins are trash but they are a way to accumulate more bitcoins. You can increase your bitcoins to x times by sensibly trading with the alts.
2017-18: blockchain not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
2020-21: crypto not Bitcoin
2023-24: digital currency not Bitcoin
Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.
February 13, 2021, 03:11:56 PM
Australia considering a Bitcoin ETF
https://www.afr.com/companies/financial-services/asic-open-to-a-bitcoin-linked-etf-listing-on-the-asx-20210212-p571v0
https://www.afr.com/companies/financial-services/asic-open-to-a-bitcoin-linked-etf-listing-on-the-asx-20210212-p571v0
Canada has gone ahead with the first ETF. https://www.theglobeandmail.com/business/article-canada-approves-worlds-first-bitcoin-etf-for-retail-investors/
Really? didn't we discuss a Swedish ETF here several years ago? Or am I misremembering.
You are quite correct (there is bitcoin tracker one XBT provider, trading in SEK) but I think that there is a fine line between ETN (such as XBT provider) and ETP/ETF.
Correct me if I am wrong, but i remember someone saying that Sweden has incredibly low capital gains tax rate in some special investment accounts (like low single digits) and that was the whole idea behind this type of funds (such as XBT provider, because you can keep those in the 'special' accounts). Right?
I am not sure how, and don't want to spend too much time investigating. XBT provider is referred to as a "uncollaterized debt instrument".
I managed to buy CXBTF in Fidelity, but some days there is no US market for it due to SEC complains about it.
I guess, i would have to use foreign exchange desk and pay $50 fee when i would like to sell it.
I bought it when btc was 4K or so, so that little tracker had done quite well in Roth, lol.
Ah, yes, that must be the "investeringssparkonto", meaning "investment savings account" Yes the tax is really low, but it is a tax you always pay, even when your assets go down.
Here's an example from the tax authority, i highlighted the important parts.
Example
Peter opens an investment savings account during the first quarter of 2020. He pays in SEK 40,000 during the first quarter and then an additional SEK 20,000 during the third quarter. During the year, the value of Peter's assets in the investment savings account increases (in addition to deposits made).
Calculation of capital base for investment savings account
Value and deposits
Amount
Value at the beginning of the first quarter (January 1)
0 kronor
Value at the beginning of the second quarter (April 1)
+ SEK 41,000
Value at the beginning of the third quarter (July 1)
+ SEK 43,000
Value at the beginning of the fourth quarter (October 1)
+ SEK 65,000
Deposits during the year
+ SEK 60,000
Sum of value and deposits
= SEK 209,000
To obtain the capital base, the sum of value and deposits must be divided by four:
SEK 209,000 ÷ 4 = SEK 52,250.
The standard income that is pre-filled in Peter's declaration
The standard income is calculated by multiplying the capital base by 1.25 percent. The standard income that will be pre-filled in Peter's tax return in 2021 will be SEK 653 (SEK 52,250 x 1.25 percent).
The standard income is taxed at 30 percent
Since the standard income is taxed at 30 percent in the income category capital, Peter will have to pay SEK 195 in tax on his investment savings account (30 percent of SEK 653). This is 0.375 percent of the capital base (0.375 percent of SEK 52,250).
Very informative, thanks, albeit a complicated formula. I wish we had that...pay 0.375% yearly instead of 23.8% on long term cap gains and up to 35% on short term.
It looks like in Sweden they tax regular income much more than cap gains.
February 13, 2021, 03:02:39 PM
Any conspiracy theorists here?
Why would both India (expected) and Nigeria (unexpected) suddenly lurched toward banning or limiting all cryptocurrencies?
These two countries have quite a few people, lol.
My conspiratorial explanation is that as WS is getting into bitcoin, it does not want competition for the precious corn.
Nigerians were quite into bitcoin, I hear.
Say, a few massive wealth managers quietly talk to IMF or whatever other Central central bank there is, the IMF 'people' whisper something into India and Nigeria regulator's ears and voila-new policies are being enacted and competition to buy corn is lessened. US based hedgies/wealthies probably figured... less for them, more for us.
This all is just a product of my wild imagination, of course.
Why would both India (expected) and Nigeria (unexpected) suddenly lurched toward banning or limiting all cryptocurrencies?
These two countries have quite a few people, lol.
My conspiratorial explanation is that as WS is getting into bitcoin, it does not want competition for the precious corn.
Nigerians were quite into bitcoin, I hear.
Say, a few massive wealth managers quietly talk to IMF or whatever other Central central bank there is, the IMF 'people' whisper something into India and Nigeria regulator's ears and voila-new policies are being enacted and competition to buy corn is lessened. US based hedgies/wealthies probably figured... less for them, more for us.
This all is just a product of my wild imagination, of course.
The only thing I can think of, is that the Govt/CB of those respective countries know that their people can go crazy viral with financial PnDs, especially with such corruption amongst their wealthy elite that may want to FOMO drive such frenzies. So this may be an effort to curb that public enthusiasm for a while. (And allow the wealthy elite there time to take up Bitcoin positions, of course). I doubt it would last though.
It's not unlike what the Chinese govt/ PBC did to curb/nerf public enthusiasm for Bitcoin back in the 2013-2015 time frame (aka "China bans Bitcoin!").
February 13, 2021, 02:59:09 PM
These gaming studios are bringing Bitcoin payouts to everyday Esport gamers.
Quote
Instead of having to go to a professional esports tournament, you can play online to earn money. That’s the whole point of it. This isn’t my phrase, but it’s the ‘democratization of monetization.’ Once money is software, any stakeholder in the gaming industry can create mini-businesses in the game It’s too early to say bitcoin has changed the gaming industry. But Dickerson said the real transformation comes when bitcoin sees further adoption into mainstream titles like CS:GO. There are millions of esports players waiting to onboard onto bitcoin, and gaming is the way to get them a seat on the ride, Dickerson said.
Are they even considering the know-your-customer bullshit? Or perhaps they see that as a bonus. "Sorry, we really don't want to but please enter all your private data into this form and upload three forms of ID and a high resolution colon scan".
February 13, 2021, 02:53:28 PM
In Barron's newspaper.
February 13, 2021, 02:52:30 PM
Jump to: