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    Bitcoin Daily Discussion, October 28, 2020

    October 28, 2020

    Bitcoin Daily Discussion, October 28, 2020

    Daily Discussion, October 28, 2020

    Posted: 28 Oct 2020 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.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Hong Kong island today

    Posted: 27 Oct 2020 09:52 PM PDT

    Oh my! MicroStrategy's Bitcoin Gains Now Exceeds its 3.5 Year Earnings as a Company

    Posted: 27 Oct 2020 11:45 AM PDT

    Has anybody noticed, since the start of 2020 we have gone from 1.1m members to 1.7!?

    Posted: 27 Oct 2020 07:45 PM PDT

    Incredibly bullish!

    submitted by /u/btc1987
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    This is the Belgian Blue Bull. Give a �� if you want this guy to be in charge of #Bitcoin from now on!

    Posted: 27 Oct 2020 07:47 PM PDT

    When bitcoin hits $13,858, that means the price has risen $10,000 since the March dip.

    Posted: 27 Oct 2020 04:26 PM PDT

    The math checks out.

    submitted by /u/T-Archive
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    current mood ( ͡° ͜ʖ ͡°)

    Posted: 28 Oct 2020 12:25 AM PDT

    Bitcoin was a major topic on CNBC website when we hit 13000 in Dec, 2017... Today Bitcoin is nowhere to be found on CNBC website. We're still flying under the radar.

    Posted: 27 Oct 2020 11:02 AM PDT

    Why The Yuppie Elite Dismiss Bitcoin

    Posted: 28 Oct 2020 01:29 AM PDT

    I just want to buy BTC

    Posted: 28 Oct 2020 12:42 AM PDT

    Hi, I want to buy a small account of BTC, I live in spain, what do you reccomend me to do, thanks.

    submitted by /u/vasco--
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    Coinbase Goes Down as Bitcoin Approaches 2019 Highs (Just in time!)

    Posted: 28 Oct 2020 02:27 AM PDT

    Warning - Buying Bitcoin through TrustWallet - misleading quotes - high fees

    Posted: 27 Oct 2020 05:39 PM PDT

    Hi all,

    Usually I use Cashapp to buy my Bitcoin (weekly, I DCA) and then I store in in Trustwallet, which is a mobile wallet owned by Binance.

    I noticed they added a "buy BTC" option directly in the TrustWallet app, so I gave it a shot.

    Unfortunately, they outsource the actual crypto buying process to a sketchy company, which uses misleading tactics.

    As you can see from this screenshot: https://i.imgur.com/eknji0Z.png

    US$5000 was to purchase 0.41635 BTC, an amount that I'm happy with.

    However, at checkout, they change the deal to this: https://i.imgur.com/oSQoNPd.png

    In simple terms, they wanted to sell me 0.43092 BTC for $5000, and then added a $175 "processing" fee. That's more Bitcoin than I wanted to buy, more fiat than I wanted to spend, and it brings the base price of the bitcoin from $11,603, to $12,009, a far larger number.

    I would have no problem with this if they were upfront about the fees and what they are doing, but now I have sour taste in my mouth. I've been into crypto for a little while. Can you imagine how predatory this would seem to a new user who's going through their first buy?

    This is my first post, so I hope I did it properly.

    submitted by /u/markpaul00
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    13,400!! New price record for 2020!!

    Posted: 27 Oct 2020 04:24 AM PDT

    14k On the way ???!!!!

    submitted by /u/EpicRayy
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    MicroStrategy Reports Best Quarterly Earnings Since 2016

    Posted: 28 Oct 2020 03:21 AM PDT

    [Serious] How to deal with Crypto Tax 2020?

    Posted: 27 Oct 2020 11:47 AM PDT

    First of all, please upvote for visibility + more opinions - this concerns all of us. Also, if you're stupid enough to think you'll get away with avoiding tax's despite KYC'ing to Coinbase & Binance don't bother commenting. News flash! you're gonna end up paying that tax in the long run + huge fines eating into your gains (or even putting you into debt).

    ​

    Anyways... I started investing in 2017. As a noob I did what most people did, chased multiple shitcoins, bought and sold various different pumps getting wrecked along the way. Then towards the end of the year, my portfolio increased significantly... but I DIDN'T sell - so I didn't "crystalise" any gainz. (I sold a couple hundred here and there during hard financial times, but I'm guessing nothing close to the free capital gains allowance).

    Fast forward just over 2 years, since then I've been buying BTC/ETH/XMR on a consistent basis. It's getting to the point where if I were to sell enough of my stack, I'd owe tax as it'd be over the "allowed" CGT threshold.

    That leads me to my question... how the fuck are you supposed to calculate capital gains tax when it comes to crypto? For the past 3 years I've traded in and out of alt-coins on multiple exchanges (some of which don't even exist anymore). It would be easy if it was just FIAT IN vs FIAT OUT, but the fact that CRYPTO to CRYPTO is considered taxable just makes it a nightmare! On top of that I did some freelance work (paid in BTC) which adds to the complexity.

    Take another example of what confuses me: Say I bought 1BTC on Coinbase in 2017, then 1BTC on Kraken in 2018, then 0.5BTC on Coinbase again in 2019, and hold them all in the same wallet. Then if I were to sell 0.5BTC in 2020, what Bitcoin was actually sold? Half of the 1 BTC bought in 2017? Is it FIFO?

    I genuinely don't know where to start and need help. I don't want to be in a shitty situation (for example some massive 2017-esque bull run happens just before the end of the tax year and I decide to cash out and have 3 days to sort shit out). I want to be prepared.

    ​

    I've come across services such as https://www.cointracker.io/ /https://bitcoin.tax/ etc but feel really hesitant to give quasi-unknown companies full read access to my wallet addresses, portfolio amount, personal email address etc. Privacy is key in the crypto space and I don't want another attack vector especially after seeing much more established companies such as Ledger fucking up (idiots) and losing my personal data.

    What do I do? I've even thought of selling EVERYTHING to FIAT and immediately buying it all back and taking whatever fine comes my way on the chin just so I can clearly track crypto transactions and not have to stress about it.

    If anyone has experience with crypto tax's please share any information that may be valuable to me/all the many others that are in the same situation as me.

    ​

    TL;DR: Bought loads of Bitcoin and Shitcoins throughout the past 3 years, finally starting to total up to an amount that'd be taxable if I sold a chunk - dafuq do I do regarding Taxes?

    submitted by /u/finbar93
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    Where can I find where the xPub is generated in Bitcoinlib?

    Posted: 28 Oct 2020 02:06 AM PDT

    I'm currently browsing through this high level wallet library to start programming some Bitcoin applications:

    https://github.com/1200wd/bitcoinlib https://bitcoinlib.readthedocs.io/en/latest/

    I'm trying to get a String value of the xPub that is used to generate new addresses for each wallet.

    Can someone help me find it?

    submitted by /u/BlockchainBears
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    Do you remember the FOMO

    Posted: 27 Oct 2020 03:29 PM PDT

    Bro , before you sell do you remember the FOMO in 2016/2017 Remember barely know contacts on your fb messaging you about the opportunity to invest in this thing that goes up like mad? Do you remember financial tv news talking about BTC and people like mike going on tv shilling ? Do you remember your parents discussing investing in BTC ? Yes ? That was the time way before the bubble pop in 2017/18 so tell me guys why do you sell now ? Why? Because you made shitty 30%? BTC will go to crazy high numbers! NO ONE predicted 20k BTC in 2016 , people were calling 5k-10k like now they are calling 50-100k.

    BTC will get you teslas, Used 500k€ yachts and 300k€ apartments in Nicea and Monaco. ONLY Thing you have to do is......

    HODL

    submitted by /u/polishjake
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    Google searches for Bitcoin are still just at 7% of their 2017 peak

    Posted: 27 Oct 2020 11:00 AM PDT

    Central Bank of Kenya Governor: Cryptocurrencies Have a Place in Kenya

    Posted: 28 Oct 2020 01:09 AM PDT

    "Through digital assets like Bitcoin we're developing secondary markets for players so that they can finally fully own their games and digital properties. This is the future" - Podcast interview with John Linden, CEO of Mythical Games

    Posted: 28 Oct 2020 01:44 AM PDT

    Bitcoin whales just split up $5.5B into smaller wallets

    Posted: 27 Oct 2020 05:36 PM PDT

    It's doing that thing again

    Posted: 27 Oct 2020 08:49 PM PDT

    Haven't posted for a long time. Been tumultuous since I joined the community in 2017. I had weak hands and cashed out my .25 at the atl for 2019 in March of last year after a rough time in Atlantic City. I know I know, but I needed something to get bills done after the buffoonery. Hard knowing that that paltry 1k would be closer to 3.5 right now. Anyway. Kept my greyscale shares and have been adding to that steadily and am happy to say that after being in the red for the better part of three years I'm only at a $90 loss where at certain times it was nearly 1k or more. I know not your keys not your coins, but it is real skin in the game. Concordantly, I did return to the btc market this spring with some of that govt handout and all I can say is I wish I had had more solvency at the time as it's all ready at a 50% return. Pretty incredible to witness. 2020, what a year. Ok, sorry for the diary entry, but no one in my real life would understand half the shit I just said, that's why I love you guys. Let's get more pump and less dump! Happy moon ride!

    submitted by /u/ellusiveuser
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    Customer sent me btc with a low fee...

    Posted: 28 Oct 2020 04:57 AM PDT

    10 sats per byte. I'm pissed. This was Monday morning, it's now Wednesday morning where I live. They can't do rbf. Any options? Mad annoyed with this.

    submitted by /u/Few_Understand
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    PayPal’s Crypto Play “Legitimizing” Bitcoin, Says MicroStrategy CEO

    Posted: 28 Oct 2020 04:26 AM PDT
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