Gold collapsing. Bitcoin UP.

[79b79aa8]

@oda just the way things have evolved. if you share good info or analysis, it will resonate.

P.S. - but go ahead and peruse the 800+ pp. archive . . . among other highlights, BU was invented there!

 

[molecular]

@Norway

Classified like that, is there an argument that the VAT should apply to the exchange fees and not the principal itself?

Argument, I don't know. But it makes sense, because the exchange fee is a service provided. This is the case in germany, btw: You pay VAT on the exchange fees. You also pay VAT when selling mined coins (debatable, but kind-of sensible). Gains from trading are taxed as income (progressively 0 to 45% depending on your income), not capital gains (which would be a flat 25%) unless you held the specific coin (yes, yes, how exactly to determine THAT?) for a year or more.

 

[sickpig]

BitFury's Vice Chairman George Kikvadze


"Dream Team" = "Core Devs"

I wonder if he included in the team also @SysMan? Cause last time I checked Alex's "facts" on SegWit and block propagatio were at best anecdotal evidence and on avg just plain wrong statements.

 

[freetrader]

BitFury's not selling any mining hardware to "small fry" little people, so I would not be able to support them even if I wanted.

I don't matter to them, and they don't matter to me.

The only thing I wonder is how much of a stake Blockstream has in them and vice versa.

 

[79b79aa8]

george, you are the amateur. open source is not the NBA.

(but don't worry, time and the market will put things in their place.)

 

[albin]

This is so stunningly similar to the kind of rhetoric that Trace Mayer uses that I have a hard time believing that there aren't closed-door VC meetings where they spread these talking points around.

 

[Richy_T]

The angle I was curious about examining was whether changes in transaction demand are statistically significant causally in driving movement in the speculation markets (though not necessarily providing any kind of support for price levels). I have this feeling that there's something going on underneath the fluctuations in LocalBitcoins price premium and volume levels.

I'd say prices are driven by both feedback *and* demand. Increased demand would push prices up by some small amount then sentiment would factor into whether that was amplified by positive feedback or negated by negative feedback.

Another thing to consider is that while the halving likely was "priced in", that kind-of works both ways. The decreased supply just takes a while to catch up with the decrease in production.

 

[Zarathustra]

BitFury's not selling any mining hardware to "small fry" little people, so I would not be able to support them even if I wanted.

I don't matter to them, and they don't matter to me.

The only thing I wonder is how much of a stake Blockstream has in them and vice versa.

BS and ShitFury fits together somehow ...
[doublepost=1483390533][/doublepost]Masterluc in October:

https://vk.com/bitcoin_vanga

 

[albin]

@Zarathustra

Crunchbase shows they both have Blockchain Capital as a series A.

 

[sickpig]

Masterluc in October: img snipped

Masterluc yesterday:

I slightly prefer the October version

 

[freetrader]

MVF clients successfully perform first hard-fork on BFGtest network

Not to get anyone's hopes up to high, it is still very early days, and this particular fork activation caught us a bit by surprise - it was due to SegWit signalling on the chain. So it forked as specified (thanks @satoshis_sockpuppet ;-) !

 

[freetrader]

https://www.reddit.com/r/btc/comments/5lon9g/happy_birthday_bitcoin/

 

[Zarathustra]

Masterluc yesterday:

I slightly prefer the October version

@sickpig

It's the same. This 5-wave Elliott count is just a sub-wave (or even a subwave of a subwave) of the Big III wave, which leads to 9588.
An Elliott wave constitutes itself on countless subwaves on countless levels.

Fractals - Happyness within the infinite!

http://www.forexhit.com/learn-forex/elliott-wave-principle.html

 

[satoshis_sockpuppet]

@freetrader
Great work with the fork! Thank you!
I guess I could run a fork node on my VPS.

 

[satoshis_sockpuppet]

Hm, don't want to rain on the parade of Bitcoin > 1000 $ again but I don't like the news about Coinbase.

1. They seem to don't care about it anymore, that leaves Blockstream as the only big non-mining company that "cares" about bitcoin.
2. If they add monero, what reason, as a drug/weapons/insert_bad_stuff_from_the_deep_dark_web - dealer will I have, to convert Monero to Bitcoin? (Because that's an argument, that "I'll have to convert altcoins to Bitcoin"). I'll be able to do all my business without touching Bitcoin and with much better privacy...
Like it or not, we all know, that semi-legal and illegal trade was one of the first use cases of Bitcoin.

And, other than Ethereum, I actually find Monero to have a solid foundation...

 

[Bagatell]

How long before they ban air and water because criminals use them?

https://www.corbettreport.com/interview-1240-rick-falkvinge-on-rule-41-and-the-new-online-order/

 

[albin]

In the US I feel like there might be a saving grace in that the AML paranoia BSA regime creates inconvenience for fairly routine upper-middle class dollar amounts. Case in point, recently I decided to close out a CD I've been just renewing for years so I could put the principal to work making at least some kind of return. Because it was over $10,000 (as though that's even a lot of money??), despite having years upon years of above board banking activity justifying having that money on the most mundane basis, the total process getting the bank check cut and then depositing elsewhere had to have been at least 30-45 minutes of waiting for bankers to free up to do second signatures and approve was not exactly something I needed in my life just to move around a fairly routine amount of money.

Not exactly some life-crushing tyranny, but my intuition is that if you mess with educated, productive people in society, you're likely to end up with some pretty motivated calls for political change. In this mileu, I can really see the push to next level crypto finance coming from a lot more fronts than banking the unbanked do-goodery.

 

[Christoph Bergmann]

@satoshis_sockpuppet
The tax authoritys in Norway made a statement about it in 2013. It's not a law, but an interpretation of the current laws. http://www.skatteetaten.no/no/Radgiver/Rettskilder/Uttalelser/Prinsipputtalelser/Bruk-av-bitcoins--skatte--og-avgiftsmessige-konsekvenser/


A good friend has been an "exchange" in Norway since 2011. He is still doing it, with growing turnover. He has confronted the governments in many letters for many years about the issue. They are avoiding to touch the hot potato, so they have not tried to collect VAT from him yet, and they will probably never. It would turn into a trial, and the state would lose. BUT: It's still a problem, as many businesses stay out of Norway because the rules are not clear.

In two weeks, I will try to "marry" an international bitcoin exchange and a norwegian/scandinavian trading bank to get a proper exchange in Norway. We have booked the meeting, and I know both parties have something to gain by cooperation

cool! Looking forward what happens - and thanks for the insights about the Norwegian tax rules.

 

[Richy_T]

Not exactly some life-crushing tyranny, but my intuition is that if you mess with educated, productive people in society, you're likely to end up with some pretty motivated calls for political change. In this mileu, I can really see the push to next level crypto finance coming from a lot more fronts than banking the unbanked do-goodery.

Pretty much. In the 80s, in the UK, "the brain drain" became a thing where many people (most notably musicians and actors) moved to the US, not just for the much better Californian weather but simply because it allowed them to keep a much larger part of their income.

Now, it's a bit different for the US since the IRS keeps its claws in you even if you leave the country. You have to renounce your citizenship if you wish to escape their clutches and doing so is expensive and keeps getting more so as more and more people choose to take this somewhat inconvenient and, I'm sure, disappointing-to-them step.

CNBC:

According to Treasury Department figures, 2015 saw yet another record-breaking number of U.S. citizenship renunciations. To that point, the 4,279 expatriations that took place in 2015 surpassed the previous record of 3,415 recorded the year before.

 

[Zangelbert Bingledack]

Gold collapsing. Bitcoin UP.

Bookmark for gold parity: http://preev.com/btc/xau (EDIT: or not, since it seems to be wrong or using perhaps the btc-e price?)
[doublepost=1483550548][/doublepost]Already up to 0.85 in the past 10 minutes. Gold, Bitcoin's coming for you!