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    Bitcoin Daily Discussion, July 29, 2019

    July 29, 2019

    Bitcoin Daily Discussion, July 29, 2019

    Daily Discussion, July 29, 2019

    Posted: 29 Jul 2019 12:00 AM PDT

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    We have a couple chat rooms now!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Yeah, What Cameron Said!

    Posted: 28 Jul 2019 04:08 PM PDT

    People that used coinbase to cashout their gains

    Posted: 28 Jul 2019 11:10 AM PDT

    Bitcoin's Nostradamus

    Posted: 28 Jul 2019 05:20 PM PDT

    Buy Bitcoin

    Posted: 28 Jul 2019 12:06 PM PDT

    Have to post this

    Posted: 29 Jul 2019 12:02 AM PDT

    Any chance we can avoid paying taxes by making a Church of Blockchain?

    Posted: 28 Jul 2019 10:13 AM PDT

    Safeway shoppers can now receive 3.5% bitcoin back when purchasing groceries online

    Posted: 28 Jul 2019 02:13 PM PDT

    https://blog.lolli.com/announcing-safeway/

    ​

    Today, Lolli announced a partnership with Albertsons Companies' subsidiary, Safeway, the top grocer across Washington, Colorado, and California!

    Through this partnership, Lolli users can now receive 3.5% sats back on all online purchases at Safeway.com. This marks the first major collaboration between a major grocery chain and a bitcoin rewards company in the United States.

    submitted by /u/StepheninVancouver
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    Poll shows Americans trust Bitcoin more than they trust Libra

    Posted: 28 Jul 2019 08:13 PM PDT

    About IRS letter 6174-A: "more than a dozen of my own clients have received this letter, all of whom accurately reported their cryptocurrency related income on their tax return"

    Posted: 28 Jul 2019 08:30 PM PDT

    IT'S A DIP, BUY BUY BUY

    Posted: 28 Jul 2019 03:32 PM PDT

    Time to buy Bitcoin!

    Posted: 29 Jul 2019 12:47 AM PDT

    Media Startup that Accepts Bitcoin is Suffering Censorship Campaign in Europe

    Posted: 28 Jul 2019 11:48 PM PDT

    Hi,

    I'm the guy who filed a market abused report against Jamie Dimon! in 2017, after he called Bitcoin "a fraud" and claimed bitcoin is for murderers, drug dealers, and North Korea.

    Jamie Dimon later said that he regrets calling bitcoin a fraud!.

    Currently, I am co-founder of investigative media startup Zoom http://zoom.institute

    Zoom is a young investigative media startup from Europe. We have successfully launched our MVP last week. https://twitter.com/zoom_institute

    Unfortunately all links to our website https://zoom.institute are currently blocked by Twitter. This might be for some technical reasons. Nevertheless, we suspect an illegal censorship campaign against Zoom by right-wing populist Sebastian Kurz, who is one of the closest allies of Russian president Putin within the European Union.

    The story is currently a major news story in Austria!

    Germany!

    and Switzerland!

    Show the world once more, that one of Bitcoin's main purpose is to defend journalists and whistleblowers against censorship and support Zoom! (please scroll to the bottom of the linked page)

    A lot of small donations from many different people will very likely become a big news story, that educates people about the core values of Bitcoin, in German speaking countries.

    Edit 1: Added cnbc.com link

    submitted by /u/lockhedge
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    IRS letter writing campaign info from insider

    Posted: 28 Jul 2019 06:34 AM PDT

    I just made throwaway account for obvious reasons but I'm a regular poster here.

    I actually have first hand experience with these "letter writing campaigns" from the IRS side. I worked for the IRS and helped them with a different "letter writing campaign" as they call them a few years ago. These are broad and very error-prone fishing expeditions on their part. They do these for a few reasons. First is they simply don't have the resources to go after everybody and instead do a letter writing campaign to try and scare as many people possible into paying more voluntarily so they don't have to do anything. Second is they're not really sure if you owe more money or not since they have really bad data. They are almost certainly joining up some of their internal tax filing database tables with external datasets (probably coinbase) and trying to estimate how much they think you owe. For example the coinbase data might have shown that you sold $20K worth of BTC in 2014 but your tax filings only show that you paid taxes on approximately $5K. And that could be because you had a $15K loss on Bitfinex but the IRS doesn't know that because they don't have any Bitfinex data and you didn't make this clear on your taxes. Or maybe you reported the transactions with the loss as "crypto" and they only joined the data with a clause searching for "BTC" or "bitcoin". It just *appears* from their incomplete picture that you might owe more than they see that you've paid. For the people that actually didn't pay or underpaid, they're trying to scare you into paying what you actually do owe. Based on my experience with the IRS, that's a best case scenario on their part. Whatever they're actually doing is probably much more error-prone and dirty. Their own internal taxpayer database tables have horrific data quality problems.

    It strikes me that this letter writing campaign in particular is very unethical, as they're blindly scaring thousands of people shitless who very well may have done absolutely nothing wrong. Many of these people will seek legal or professional tax help at a large cost to them, and the IRS won't be responsible for picking up the bills of innocent taxpayers that they unjustly threaten. In a fair world they'd face a class action lawsuit for for this predatory behavior.

    What they will most likely do is create a prioritized list of everybody who they sent letters to, and only pursue audits of a small minority at the top of the list who does not end up paying what the IRS is estimating (guessing) they still owe. They're looking for return on investment. They have a small team dedicated to this campaign (maybe 5 people part time) and are looking to generate more revenue from voluntary payments from the letter campaign then they spend on the staff running it. The small minority at the top of the list that they refer to the audit teams works the same way. Audits are resource intensive for the IRS and they are very short staffed. They can only afford to go after the biggest fish. Unless you have egregiously not been paying your crypto taxes, you won't be referred to the audit team, and you will most likely get forgotten about.

    If you got one of these letters and know you reported correctly, I wouldn't worry about it.

    submitted by /u/IRS_throwaway_BTC
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    Bears Getting REKT

    Posted: 28 Jul 2019 04:22 PM PDT

    Using my Bitcoin wallet to sign messages using OpenSSL

    Posted: 29 Jul 2019 12:07 AM PDT

    Let's say I have a keypair, with the xprv and xpub keys. I know it's possible to sign messages with the private keys, as that's how cryptocurrencies work, but how would I go about doing it with third-party software, say, OpenSSL?

    Running openssl ecparam -list_curves, I see that it does support secp256k1, but I don't know how I could import the xpriv key into a format that OpenSSL can read.

    Does anyone have any experience doing something like this? How would I go about importing the keys to OpenSSL?

    submitted by /u/xynixia
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    200-Year-Old Passport Printing Firm Launches Hardware Crypto Wallet - CoinDesk

    Posted: 29 Jul 2019 02:40 AM PDT

    Bitcoin Wallet For Mom

    Posted: 28 Jul 2019 11:24 PM PDT

    My mom collects what she like to call "protection fee" from me monthly. Basically just some some money to send her way to show I care. Starting next month she wants me to send her bitcoins instead. What kind of wallet should I set up for her?

    • Single pubkey/privkey paper wallet?
    • bip39 or some seeds

    Requirements:

    • She can check my transactions (I can bookmark for her a blockchain explorer page for her wallet)
    • She won't spend it, just hodl. If she spend then she'll most definitely cash out everything
    • She just want bitcoins, no alts (why I think seed words might be overkill)

    My current plan is just plain ol paper wallet. What do you guys think?

    submitted by /u/kay_wolfe
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    Are there any legit amazon gift card sellers with BTC?

    Posted: 28 Jul 2019 10:30 PM PDT

    I am looking at paxful do you have any suppliers? Or on reddit or somewhere else?

    Thanks

    submitted by /u/spy1983
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    Brazilian city Fortaleza Public Transportation System Accepts Bitcoin Payments!!

    Posted: 29 Jul 2019 03:01 AM PDT

    How come whenever I post a comment about Bitcoin over at r/investing it gets downvoted so hard?

    Posted: 28 Jul 2019 10:47 AM PDT

    At least YOU guys know what's up.

    submitted by /u/stanhopeofficial
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    Tim Draper Thinks India's Crypto Ban Could Set it Back 40 Years

    Posted: 29 Jul 2019 01:00 AM PDT

    Bitcoin propaganda

    Posted: 28 Jul 2019 02:13 PM PDT

    Australian Government Proposed Limit on Cash

    Posted: 29 Jul 2019 12:39 AM PDT

    Has anyone seen Mike Maloney’s hidden secrets of money? Some of the things he make sense but according to his predictions there should have been a massive crash in financial market by now. And he’s sponsored by Gold and Silver investing. Surely there is a conflict of interest?

    Posted: 29 Jul 2019 12:22 AM PDT
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