Bitcoin Thread

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Snyper564 said:
i know someone that bought a few hundred k worth of sol when it was just a dolla >_<
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Hope they still holding and if they qualify for Capital Gains Tax they need to take profit stat, bought from 20$ dollars up to around 60$ but more bullish on eth now
 
Snyper564 said:
yeah they holding tight
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Nodding meme guy' is Robert Redford, and the Internet is stunned.
 
Reminds me.

Somewhere in the 2010's when the Wannacry ransomware came out. My office was hit. ***** encrypted all our files. They wanted some BTC payment in order for you to decrypt your stuff. After exhausting all possible options in my limited IT knowledge capacity I decided to just pay them.

Now I cannot remember what the BTC price was at the time nor can I remember how much they wanted. I remember I had to buy around R7k worth of BTC and send it to their wallet. Did that and there was some small bit of BTC left after the transaction went through which lay idle in my wallet for about 10 years.

FWD early 2023 I remember there should still be a few bob of BTC on that old PC I had back then. So I fired it up and scoured the HDD for clues as to where the wallet was etc. Found it. Sent it to my Luno wallet. And boom.

It was BTC 0.0282 , R18k worth of BTC in Feb 2023. This was like sticking your hand into an old jacket pocket and finding an R200 note. Should have kept it. But I sold all my BTC in early 2023.

I did a recon on my BTC dealings since I started. If I had just kept the original R120k worth of BTC I bought at the beginning it would have been worth about R600k today lmao.

What can you do.
 
Bitcoin now at $57,000. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else
 
gustavo07 said:
Bitcoin now at $57,000. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else
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failures of the ANC also laid bare (same for other governments of course, ours just sucks extra hard):

we're sitting at a new all time high ZAR price for bitcoin, yet still over $20k under the dollar all time high, #VivaANC #Wakanda4eva
 
@gustovo07 Not wanting to start a discussion, just saying that bubbles are an inherent feature of economic markets and instruments. The more active the market and greater the price movements, the more apparent bubbles become. Where the paradigm underlying bitcoin (as well as ETH, and probably XRP and Solana that a functional crypto) is, as you say, different in that even large price bubbles pass through quickly.
 
@NikeXT. Your reading needs to be wide enough to get a feeling for the extent to which opinions weigh on interpretation and advice the authors give. Bitcoin is a fascinating phenomenon that is still in the early- to mid-phase of evolution and use cases. It has the features of a major currency in the liquidity (volumes traded) but a minor currency in price volatility. Added to this is the increasing use of bitcoin as a replacement for gold as a long-term store of wealth. As someone who seems to be starting with bitcoin, do give thought to what your own goals are. For example, I have completely different goals for bitcoin and ETH, XRP and Solana. Bitcoin is to gather and HODL, whereas I day trade CFDs with the others. This means different approaches to what I need to know about how markets, prices and the general state of the world currencies relate to what I do and when, not just opinions of what some one author holds.
 
Wary GOM said:
@gustovo07 Not wanting to start a discussion, just saying that bubbles are an inherent feature of economic markets and instruments. The more active the market and greater the price movements, the more apparent bubbles become. Where the paradigm underlying bitcoin (as well as ETH, and probably XRP and Solana that a functional crypto) is, as you say, different in that even large price bubbles pass through quickly.
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No worries bud. Its a popular copy pasta from a certain legend himself ;)

https://twitter.com/x/status/938938539282190337
 
Olorin said:
I just contacted a firm that wanted R10K just to put together a Crypto report nevermind the tax on the profits I've earned. That's insane.

If my profit is R12K.
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Not that insane.

But you just need a excel sheet detailing everything and submit that. Can do it yourself.

Can be as simple as this

1709040571162.png
 
NikeXT said:
@gustavo07 if I read one Bitcoin book, what should it be?

@CryptosEra ?
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very good replies already here!
/
if I were to choose 1 book, for a gifting maybe, mastering bitcoin!
If I wanted to understand bitcoin, the whitepaper only!*

I think as bitcoin grows and new usecases are unlocked, it's definition also changes.
so finding one definitive book with up to date and accurate info is almost impossible!
the classics, like Mastering Bitcoin or Bitcoin Standard are good at providing a foundational understanding and also wrong or outdated at some points.
other point is Dixon is a VC so his book focuses on investing side and the Web3 side. While for example laura shin is a journalist and her book cryptopians provides a historical retelling of the industry.

/

*
bitcoin whitepaper is very short, and the maths part skippable. so it's not a dense read at all.
there are 2 key innovation in the wp.
1. technical (timestamping)
2. monetary (block reward)
first gives you verifiability and censorship resistance, and second gives you incentive alignment.

this is why china, russia and USA can all agree on bitcoin.
no one can dispute what happened and when it happened on chain and everyone is incentivized to keep it online, to safegaurd their own bag.

so all you need to know is *why* it's verifiable and why the timestamps work.
perfectly explained in the whitepaper.
otherwise, mastering bitcoin or cryptopians.
 
oh my oh my

around early sept last yr i deposited funds into my valr account - with the intention of shifting funds out of the country.
my intention at the time was not to actually purchase bitcoin, but just park the money until i was ready.

somehow, i actually purchased (i dont remember purchasing - could have been one of those late night / early morning unintentional things).
for some time now i've been getting email price alerts - which i've been ignoring, and dumping to trash as soon as they come in.

last night i actually read a new incoming mail, to discover i had in fact purchased at the time.
turns out i inadvertently doubled my money - cashed out this morning.

if ever there was blind luck, this was it.
 
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