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    BTC Cryptocurrency and Taxes: Here’s What You Need to Know

    August 02, 2021

    BTC Cryptocurrency and Taxes: Here’s What You Need to Know

    Cryptocurrency and Taxes: Here’s What You Need to Know

    Posted: 01 Aug 2021 06:04 PM PDT

    One of The Smartest, Important Things I've read On Crypto Twitter Re Infrastructure Bill

    Posted: 01 Aug 2021 02:12 PM PDT

    Bitcoin was renamed to Bitcoin Cash (BCH) in 2017.

    Posted: 01 Aug 2021 04:38 PM PDT

    The "Bitcoin" name was hijacked by a for-profit company: Blockstream, funded by banks and financial institutions in order to make it harmless.
    Be careful to back the Bitcoin that Satoshi invented and not the unusable, much more expensive and crippled "BTC" version.

    submitted by /u/ChaosElephant
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    Happy BCH independence day! A day everyone should celebrate. Splitting off from BTC in response to the perversion of its original vision, empowers us all with independence. Reinforcing freedom & self sovereignty for all. A true protest movement keeping the Bitcoin dream alive!

    Posted: 01 Aug 2021 05:18 AM PDT

    The aftermath of the 4-year independence of Bitcoin Cash and things to know about the currency

    Posted: 02 Aug 2021 12:19 AM PDT

    One-woman band music stream on Twitch, accepts BCH Tips!

    Posted: 01 Aug 2021 03:17 PM PDT

    I'm not affiliated in any way other than being a fan, but if you like some classic rock in the form of a one-woman band come on down to:

    https://www.twitch.tv/sabrinasoloshow

    Best thing about it? Accepts BCH for tips and song requests!

    qrsrk99s43fjdcjfkuzs0qercjjc5ul50g8z07np4j

    submitted by /u/HoaxKey
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    TeamRyver: Happy Bitcoin Cash Day to Everyone!

    Posted: 01 Aug 2021 08:27 AM PDT

    10 Reasons To Pay With Cryptocurrency

    Posted: 02 Aug 2021 12:13 AM PDT

    There are plenty of reasons why you should start adopting cryptocurrencies as a mode of payment early today. Here's a list of 10 reasons that you might be keen to look at (see the following guide for more details on each one): 10 Reasons You Should Pay With Cryptocurrency

    1. Much faster cross-border payments
    2. You can be pseudo-anonymous
    3. Full control over your funds
    4. It could potentially be tax-free in some countries
    5. Cryptocurrencies are typically trending upwards in value
    6. Blockchain is eventually going to enable microtransactions
    7. An increasingly large number of people are using cryptocurrency
    8. An increasing amount of famous brands and companies are accepting cryptocurrency
    9. Automated payments made simple
    10. You may soon find yourself using cryptocurrencies without knowing it
    submitted by /u/cmstrump
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    Tether: The Crypto Time-Bomb is Finally About to Explode

    Posted: 01 Aug 2021 09:07 AM PDT

    Scheme or scam? An empirical analysis of Satoshi Pyramid

    Posted: 01 Aug 2021 11:59 AM PDT

    Scheme or scam? An empirical analysis of Satoshi Pyramid

    In about 24 hours, Satoshi Pyramid is set to start another 60-day round of exponential speculation. Satoshi Pyramid is a Bitcoin Cash-based pyramid scheme that is completely honest about being a pyramid scheme. Details about the rules are explained in u/guyfawkesfp 's read.cash article and this snapshot of satoshipyramid.com

    Classifying Satoshi Pyramid

    Satoshi Pyramid is definitely a scheme, but what type of scheme is it? Satoshi Pyramid can be classified as a game of perfect information within the framework of game theory. A game has perfect information if every player has all the information about the current state of the game at every point that they need to make a decision. Chess is a game of perfect information since information about the position of the pieces is available each time a player needs to make a move. Rock-paper-scissors is not a game of perfect information, however, since at the point of having to make a decision about which move to play, a player does not know the move that their opponent intends to make.

    Satoshi Pyramid is a game of perfect information since information about the moves that other players have made are available to all players on an immutable, public, distributed ledger. This seems to be an improvement on a typical Ponzi scheme in which investors are not even aware that they rely on later investors to ensure their payouts.

    Scam alert?

    So, it's a scheme, but is it a scam, as it has been called ? Defining "scam" may be difficult since the word means different things to different people. The Merriam-Webster Dictionary defines a scam as "a fraudulent or deceptive act or operation." Is Satoshi Pyramid fraudulent or deceptive? One way to answer this question is to determine whether the operator paid out to depositors when the operator promised to.

    A depositor is supposed to be paid double their deposit (minus a 10 percent fee) at the point in time at which the cumulative amount of BCH that has been deposited is double the cumulative amount of BCH that was deposited when the deposit made their initial deposit. Current depositors pay for the payouts of past depositors. So the question can be asked: Did depositors receive their payouts when they were supposed to be triggered?

    Fortunately the BCH blockchain provides all the information necessary to answer this question. With the elbow grease of a little coding and with the help of Bitcoin.com's blockchain API, all information can be extracted.

    Digging into the blockchain data

    ​

    Deposits into and payouts from Satoshi Pyramid

    This chart zooms into the early portion of the game and sets the vertical axis to be log-scaled to display the data better. It is apparent that there were batched payouts regularly executed as the cumulative amount of BCH deposited rose. The official rules of the SatoshiPyramid.com website states, "SatoshiPyramid deposits are made into a secure cold wallet system. For security reasons payouts may take up to 12 hours to process."

    Although a bit tricky, it is possible to match specific payout transactions to their corresponding deposit transactions on the BCH blockchain. With a few lines of code I was able to link 96 percent of payouts to their deposits.

    The average amount of time between a deposit reaching its payout threshold and the payout transaction being confirmed on the blockchain was about 5.5 hours. The time interval ranged from 1 hour to 23.5 hours. In 95 percent of cases Satoshi Pyramid achieved its stated goal of paying out to depositors within 12 hours of reaching the payout threshold.

    The "market" crashes

    Around June 4, large deposits to Satoshi Pyramid suddenly ceased. In certain asset markets, bubble phenomena can develop in which traders buy an asset not because of its inherent value but because their belief that they will be able to sell it for more money than the price at which they purchased it. This is the "greater fool" theory: I may be a fool to buy this asset at such a high price, but I believe I can sell it at a higher price to an even greater fool. The cession of large deposits on June 4 was akin to an asset bubble bursting or a market crash. Suddenly, the sentiment turned against the frenzy of depositing ever-larger amounts.

    The bottom line

    In total, 330 deposits summing to 2062 BCH were made in round 1 of Satoshi Pyramid. There were 161 payout transactions totaling 1856 BCH. The quantities deposited ranged from a few satoshis to 185 BCH, with the average being 6.25 BCH and the median deposit amount at 0.21 BCH.

    As for the subset of the deposits that did not result in a corresponding payout due to the market crash, the summary statistics are similar to the overall set of deposits as a whole: the maximum single deposit that did not mature into a payout was 146 BCH. The average was 6.21 BCH and the median was 0.20 BCH. The total amount of BCH deposited that did not result in a corresponding payout was 1031 BCH.

    The fees obtained by the operator are 10 percent of the deposits that matured. (The Satoshi Pyramid rules state that any deposits that did not mature into a payout would be rolled over to initiate the next round.) The fees sum to 103 BCH, which at the time of writing was valued at about 50,000 USD. The operator has stated that "These fees will be used to fund the development of Bitcoin Cash applications and infrastructure."

    The code used to extract the data is available here; the resultant datasets are here; charts are here. I believe the data analysis presented here to be accurate, but there is always the possibility of a mistake in the code; I welcome any corrections. An extended version of this post was published on read.cash.

    Disclosure statement: I have no association with the operator of Satoshi Pyramid. I deposited a small amount of BCH early in round 1 to test the Satoshi Pyramid system and subsequently received a payout when the threshold was reached.

    submitted by /u/Rucknium
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    Interesting stats:

    Posted: 01 Aug 2021 04:39 AM PDT

    Happy Anniversary Bitcoin Cash from Venezuela

    Posted: 01 Aug 2021 11:19 AM PDT

    Happy 4️⃣ Bitcoin Cash Day ����

    Posted: 01 Aug 2021 02:26 PM PDT

    🥳Today August 1 we are celebrating the 4️⃣ anniversary of the independence of Bitcoin Cash (BCH) #BCHday 🥳

    On August 1, 2017, a division of the Bitcoin (BTC) network was executed, which gave rise to Bitcoin Cash (BCH) as an independent decentralized cryptocurrency. 🎂🎊🎈 https://i.imgur.com/IOtj8CC.jpg

    submitted by /u/BitcoinCashArgentina
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    Can someone explain me how inputs in BCH works?

    Posted: 01 Aug 2021 11:12 AM PDT

    So what i understood, is that if you receive BCH every time in a new address and want to send everything at the same time, the number of inputs will be the same as the number of payments received, so if i receive everything in the same address and send everything, there should be only 1 input.

    But when i sent my coins to someone, it created 13 inputs, despite only using 2 different addresses.

    Since i used Schnorr signatures wich combine signatures, the transaction were not very large, but still very strange.

    So using the same address every time does not have fee advantage against using a fresh address every payment?

    submitted by /u/Nerd_mister
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    Game over! Sad to announce that Joystick.club flipstarter failed. Thank you to all of our supporters

    Posted: 02 Aug 2021 02:27 AM PDT

    We started our Flipstarter with the hopes of getting funding to allow our small team to focus our time on a BCH project which we felt could bring adoption to BCH through pay to play games, and game libraries for supporting other game devs to build with BCH. Between our small team of two, we worked the majority of our evenings and weekends for the past 6+ months to get joystick.club to where it is.

    During that time we:

    • Runner's up at the BCH dev con 2020
    • Platform build out on joystick.club
    • BCH integration into 3 games built with construct engine
    • Free to play game per community request
    • Built integration to Badger Chrome & Firefox
    • Token Reward for gameplay - originally set to post funding, we were able to get a working version out to production before the flipstarter was complete
    • Added Bitcoin.com Link integration allowing our app to work with Bitcoin.com wallet
    • Got launched in the Bitcoin.com Wallet Discovery section (by far the biggest spike in growth we saw)

    It's with deep sadness that we share that we only made it to just over 2% of our goal on flipstarter.joystick.club. We want to thank the few supporters we were able to get, and thank everyone in the BCH community for their advice and input. We had some exciting plans of smartBCH integration which I think will have to take a pause until we have caught up on other matters. Along with several major items on our milestones visible on our flipstarter page.

    We will be taking a brief break to gather our thoughts and spend some time away from the project for a short time and catch up with family and friends. Some people on telegram asked - "Will you run another campaign?". I'm not so sure we can handle the rejection of 2 failed flipstarters so this may simply remain a hobby project. My hope is after our break, we will continue building this project despite lack of funding but at a more sustained pace, treating this as a hobby instead of a potential way for us to focus our energy on BCH. Maybe we can secure other funding someday. Time will tell. Wish us luck.

    Kita-kita na lang / See you around!

    -Joystick.club

    https://twitter.com/joystickclub/status/1422116628255305737?s=20

    submitted by /u/amalektricity
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    Bitcoin Drops, These 3 Altcoins Bounce!

    Posted: 02 Aug 2021 02:25 AM PDT

    Remarkable how many salty "Bitcoin" "enthousiasts" suddenly pop up when stating a simple fact...

    Posted: 02 Aug 2021 02:25 AM PDT

    Depositing BCH in Celsius wallet taught me that BCH also has “Segwit-format” addresses…

    Posted: 01 Aug 2021 12:14 PM PDT

    Anyone know why Bitcoin.com gift cards(powered by eGifter) doesn't show all available eGifter cards?

    Posted: 01 Aug 2021 11:03 AM PDT

    I went to get Taco Bell today and wanted to pay with bitcoin so I searched Taco Bell on Bitcoin.com gift card section and nothing came up. Then I went to the eGifter main site and found they do sell a Taco Bell card that I can buy with Bitcoin Cash. Anyone know why the wallet app doesn't show all available places for gift cards? https://www.egifter.com/bitcoin/taco-bell-gift-card-bitcoin

    Lowes and subway is also on there but not the wallet

    submitted by /u/FamousM1
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    Oil giants announce their determination to reduce greenhouse emissions with the help of bitcoin mining

    Posted: 02 Aug 2021 12:35 AM PDT

    Because of the existing regulations oil companies burn a significant amount of gas, which is a byproduct of oil production. So far this type of gas cannot be used. Thus some of the companies in this industry decided to use it to power bitcoin mining data centres. Now there are three companies ready to start this project. They are Saudi Aramco (Saudi Arabia), Gazprom (Russia), ExonMobile (the USA).

    Even though it seems to be a nice initiative in energy regulation, it leaves a place for some doubts. What is your opinion? Is it just about energy?

    submitted by /u/SimpleSwapExchange
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    PurelyPeer update: closing a loop in our purely peer-to-peer economy

    Posted: 01 Aug 2021 07:28 AM PDT

    >>> https://read.cash/@architect/purelypeer-update-closing-a-loop-in-our-purely-peer-to-peer-economy-d2b2d9db <<<

    Happy Bitcoin Cash BCH Day!

    You may have come across our project that won the AllStars Prize at the recent CoinParty Hackathon 2021 (https://devpost.com/software/purelypeer) and wondered what we have been up to since then.

    We are building a geolocation game and digital wallet with collectible tokens received when collecting local cashdrops in Bitcoin Cash BCH. These cashdrops are micro-advertisements from anyone who had created a PurelyPeer quest (e.g. stores, online businesses, content creators). This closes one loop of our purely peer-to-peer economy by linking peers that interact with each other via BCH.

    ...

    >>> https://read.cash/@architect/purelypeer-update-closing-a-loop-in-our-purely-peer-to-peer-economy-d2b2d9db <<<

    submitted by /u/bit-architect
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    Hello guys, I'm a noise user here I'm having problem on getting my tips to my BCH wallet. I already linked my BCH Wallet to noise.cash 2 days ago and yet I,'m not receiving anything from noise.cash. Cana anyone help me please.

    Posted: 01 Aug 2021 05:06 PM PDT

    Happy BCH day! The Bitcoin Cash Podcast - D1$L0YAL music video

    Posted: 01 Aug 2021 04:26 AM PDT

    Setup Price Alert for Rebound

    Posted: 01 Aug 2021 10:10 PM PDT

    If you guys miss the price rebound this time , you can try to setup alert in my website. www.bitwoohoo.com

    You can setup the alert for 10 different exchange and 3000 different coins.

    I just add discord bot. You just need setup discord with your own webhook url. Your discord will get alert message.

    Next step, I will try to add telegram bot.

    If you guys have any question or advice, let me know.

    submitted by /u/flychicken2008
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    Bitcoin 7% Pullback after a 45% Bull Run

    Posted: 01 Aug 2021 10:02 PM PDT
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