with magic hindsight glasses the best investment would have been to buy a few thousand coins back when they were effectively worthless, print them to a cold wallet, and store said wallet in a safe deposit box. Of course the same hindsight would be to buy the winning lotto tickets for a big jackpot.
or: Cash out in tax haven. Don't repatriate the money. Problem solved.
If you were on a platform and a US resident, then open a swiss or german bank account, have the cash-out in Francs or Euros and deposited into said account. Declare the account on your IRS statement (required by tax code, so they can identify if you move the money into the US) Pay no taxes on that money as long as it's not sent into or spent in the US.
correct, so the follow-up is that since they also are going after transfers, at what point do they consider you having cheated.
Using stocks as an example: 1) I buy one share of MegaCorp for $100 in an eTrade account. 2) The stock goes up to $1000: I have a paper gain of $900, but no real gain, so no taxes are due. 3) I transfer that stock to Merryl Lynch, still no gains 4) I sell the stock and after commissions etc. I pocket an $850 gain. I owe taxes on the $850.
It sounds like the IRS is considering taxing at step 3 which is an issue, unless they can prove that step 4 had to have happened implicitly.
Make ONE association of a transaction to an individual *wallet*, and then you have ALL transactions that individual has ever made *with that wallet*, all recorded.
FTFY
That's why multiple wallets and remixers are important.
people *are* leveraged on BTC. There are many (no hard numbers...) who've maxed Credit Cards to buy more BTC. Yes it's not going to have the power curve function that 1929 had (AFAIK no double or triple leverage like in 29), but there are plenty of people that will be ruined when (not if) the crash happens.
1929... they jumped from windows... Also 1929: The volume was so high that the tickers around the country were running *hours* behind because of the spool of data to print. Also 1929: Previous run up by speculation was a major contributor to high prices (bubble) Also 1929: Crazy over leverage led to the contraction becoming a crash.
I see *many* parallels here. As to OP, don't jump mate, and panic selling is likely as bad as holding at this point in the game. If you can't live w/o the money sell, otherwise hang on for the ride from hell!
You don't test software by looking at the code. You test the software by testing it. If it ain't broken, you're not testing hard enough.
But you use the code to find interesting boundary cases that need additional scrutiny in testing! To properly test software *requires* access to source. Otherwise all you're doing is poking it with a stick to find vulnerabilities.
You brought up a good point. So the counter would be to write a program that accepted the same physical evidence data and simply returned whatever answer the defense wants.
If you know it's a bubble but have no idea when it bursts, there is no value in knowing it's a bubble.
sure there is. you know not to invest anything you wouldn't be willing to spend on lottery tickets; thus you save the possible (probable even) losses. Once the bubble pops you then take that money you held on the sidelines and buy in at severe discount (whether BTC or assets people lost because of over leveraged positions).
Sure there will be: Credit cards will demand payment. Debtors will Chapter11 Houses will be liened to the point of worthlessness; and upon sale the margin call will be collected.
but that implies inflation of the fiat currency, so to really assess this you should convert all fiat currency values into their equivalent gold ounce at same time point as the fiat currency was traded to/from BTC. This also allows you to normalize across HKD, EUR, USD easily.
Yes it's not exact, but it is a pretty darn good approximation.
It won't fall in value gradually. This feels so much like mid 1999 in tech it's not even remotely funny. The crash will be an immediate devaluation of 50% with a multi day tail of ever lower dead cat bounces till it's somewhere, but where??? I have no crystal ball into where it ends though... some percentage (25%)? zero?
I'm just wondering if it will go away completely or not. Looking at a job with a crypto company and the offer is very well tuned to my needs (telework, schedule flex)... but will the company survive the pop? That it is a bubble is painfully obvious, but even when the tech bubble popped people still bought plenty of tech. When the housing bubble popped people still bought houses.
When the crypto bubble pops, will people still buy crypto? I got out of BTC *years* ago because I made enough money to be happy with my return and because even then I felt it was a bubble.
actually, given the history of these companies I think it is rather likely they *will* create fast lanes. I get that this is the FUD/Vaporware level at the moment, but I would be completely unsurprised if (when) it comes to pass. I'll wager it'll happen before the end of Trump's first term so that it is harder ("you'll hurt business!") to re-implement NN when Trump's out.
In the "old days" that would be a switched line. But yes, and in fact paying Comcast/Att/duopolyMember to run a private line for you also is just fine.
Nope. Flat earth is still stupider... This is possible, no matter how improbable while flat earth is impossible. Agree with the rest and also that the actual probability is equal to or less than that of me winning the lotto by finding a ticket on the ground.
Of course then they interview the store staff that was on the schedule for the date/time of your receipt and/or the time your cellphone was in the area.
Pragmatically if you're going to do something illegal leave the phone at home*, if you need a phone use a burner that was not activated at your home, is always turned on and off in the location of a mall, or other high population area**.
Now, this takes discipline, something most bad guys lack in spades... so no worries. The bad guys with the proper skills and discipline are never caught.
* There is also the alternative of sending a buddy to take your phone to a movie with him/her. They must buy two tickets, etc. but this adds a trust risk. If they are on the take / benefiting from the crime and their job is to be the alibi then so be it, but the whole thing about two people, secrets, and death applies. ** the risk of being at the same place each on/off is mitigated by high population, and randomly turning it on/off when away from your house introduces a possible circle to search inside of.
depends if b is expected to only be 1/0 at the end of this function even if it *may* be some other true value (why this would be the case I do not know), also !b is going to be faster than ~b in many cases. But! write it as it makes sense and profile to see if that speed is an issue or not.
Given the a b operators (yeah I know this is an example, but I'm running with it) this is likely an inline function that will be called very heavily in a nested loop or somesuch... as a result the speed of operators can have a very noticeable impact.
True story: Had a co-worker that did something very similar to this, but b was a UINT64 and he used it to store a bool. used ~ operator to toggle it. When he needed to make it look like he was busy and improved performance he switched it to a UINT32, then UINT16, then UCHAR, then to use the ! operator instead of the ~ operator. I didn't rat him out because our manager was a dolt and my co worker was actually working on a hard problem, but manager was one of those "didn't see an improvement, so you were wasting time" people.
Slashdot Mirror
with magic hindsight glasses the best investment would have been to buy a few thousand coins back when they were effectively worthless, print them to a cold wallet, and store said wallet in a safe deposit box. Of course the same hindsight would be to buy the winning lotto tickets for a big jackpot.
I did not do this. :)
or:
Cash out in tax haven. Don't repatriate the money.
Problem solved.
If you were on a platform and a US resident, then open a swiss or german bank account, have the cash-out in Francs or Euros and deposited into said account.
Declare the account on your IRS statement (required by tax code, so they can identify if you move the money into the US)
Pay no taxes on that money as long as it's not sent into or spent in the US.
I have a hard time feeling bad for a pimp.
correct, so the follow-up is that since they also are going after transfers, at what point do they consider you having cheated.
Using stocks as an example:
1) I buy one share of MegaCorp for $100 in an eTrade account.
2) The stock goes up to $1000: I have a paper gain of $900, but no real gain, so no taxes are due.
3) I transfer that stock to Merryl Lynch, still no gains
4) I sell the stock and after commissions etc. I pocket an $850 gain. I owe taxes on the $850.
It sounds like the IRS is considering taxing at step 3 which is an issue, unless they can prove that step 4 had to have happened implicitly.
close...
Make ONE association of a transaction to an individual *wallet*, and then you have ALL transactions that individual has ever made *with that wallet*, all recorded.
FTFY
That's why multiple wallets and remixers are important.
people *are* leveraged on BTC. There are many (no hard numbers...) who've maxed Credit Cards to buy more BTC.
Yes it's not going to have the power curve function that 1929 had (AFAIK no double or triple leverage like in 29), but there are plenty of people that will be ruined when (not if) the crash happens.
1929... they jumped from windows...
Also 1929: The volume was so high that the tickers around the country were running *hours* behind because of the spool of data to print.
Also 1929: Previous run up by speculation was a major contributor to high prices (bubble)
Also 1929: Crazy over leverage led to the contraction becoming a crash.
I see *many* parallels here. As to OP, don't jump mate, and panic selling is likely as bad as holding at this point in the game. If you can't live w/o the money sell, otherwise hang on for the ride from hell!
You don't test software by looking at the code. You test the software by testing it. If it ain't broken, you're not testing hard enough.
But you use the code to find interesting boundary cases that need additional scrutiny in testing!
To properly test software *requires* access to source. Otherwise all you're doing is poking it with a stick to find vulnerabilities.
You brought up a good point.
So the counter would be to write a program that accepted the same physical evidence data and simply returned whatever answer the defense wants.
I really hope you are not serious mate!
When guys doing similar enough to what you're doing now encountered 29-Oct-1929 a fair portion of them jumped out of windows...
If you know it's a bubble but have no idea when it bursts, there is no value in knowing it's a bubble.
sure there is. you know not to invest anything you wouldn't be willing to spend on lottery tickets; thus you save the possible (probable even) losses. Once the bubble pops you then take that money you held on the sidelines and buy in at severe discount (whether BTC or assets people lost because of over leveraged positions).
Sure there will be:
Credit cards will demand payment.
Debtors will Chapter11
Houses will be liened to the point of worthlessness; and upon sale the margin call will be collected.
Pretty roundabout call, but same end result.
I was thinking the *same* thing.
Define BTC crash:
See "Bank run"
but that implies inflation of the fiat currency, so to really assess this you should convert all fiat currency values into their equivalent gold ounce at same time point as the fiat currency was traded to/from BTC. This also allows you to normalize across HKD, EUR, USD easily.
Yes it's not exact, but it is a pretty darn good approximation.
IIRC bird/bat guano outpriced gold at one point, and was used as a tradable asset... e.g. currency.
It won't fall in value gradually.
This feels so much like mid 1999 in tech it's not even remotely funny.
The crash will be an immediate devaluation of 50% with a multi day tail of ever lower dead cat bounces till it's somewhere, but where???
I have no crystal ball into where it ends though... some percentage (25%)? zero?
I'm just wondering if it will go away completely or not.
Looking at a job with a crypto company and the offer is very well tuned to my needs (telework, schedule flex)... but will the company survive the pop?
That it is a bubble is painfully obvious, but even when the tech bubble popped people still bought plenty of tech. When the housing bubble popped people still bought houses.
When the crypto bubble pops, will people still buy crypto?
I got out of BTC *years* ago because I made enough money to be happy with my return and because even then I felt it was a bubble.
well, I can guarantee you that a CP suspect somewhere *will* grasp onto that straw.
actually, given the history of these companies I think it is rather likely they *will* create fast lanes. I get that this is the FUD/Vaporware level at the moment, but I would be completely unsurprised if (when) it comes to pass. I'll wager it'll happen before the end of Trump's first term so that it is harder ("you'll hurt business!") to re-implement NN when Trump's out.
In the "old days" that would be a switched line.
But yes, and in fact paying Comcast/Att/duopolyMember to run a private line for you also is just fine.
Nope. Flat earth is still stupider... This is possible, no matter how improbable while flat earth is impossible.
Agree with the rest and also that the actual probability is equal to or less than that of me winning the lotto by finding a ticket on the ground.
Of course then they interview the store staff that was on the schedule for the date/time of your receipt and/or the time your cellphone was in the area.
Pragmatically if you're going to do something illegal leave the phone at home*, if you need a phone use a burner that was not activated at your home, is always turned on and off in the location of a mall, or other high population area**.
Now, this takes discipline, something most bad guys lack in spades... so no worries.
The bad guys with the proper skills and discipline are never caught.
*
There is also the alternative of sending a buddy to take your phone to a movie with him/her. They must buy two tickets, etc. but this adds a trust risk. If they are on the take / benefiting from the crime and their job is to be the alibi then so be it, but the whole thing about two people, secrets, and death applies.
**
the risk of being at the same place each on/off is mitigated by high population, and randomly turning it on/off when away from your house introduces a possible circle to search inside of.
indeed in the last 6 months the cheap DDR4 8GB ECC dimms have gone up from $85 to $110 each.
he's just using the 0==success enum, but his function is positive boolean logic. It'll all shake out in QA.
depends if b is expected to only be 1/0 at the end of this function even if it *may* be some other true value (why this would be the case I do not know), also !b is going to be faster than ~b in many cases. But! write it as it makes sense and profile to see if that speed is an issue or not.
Given the a b operators (yeah I know this is an example, but I'm running with it) this is likely an inline function that will be called very heavily in a nested loop or somesuch... as a result the speed of operators can have a very noticeable impact.
True story:
Had a co-worker that did something very similar to this, but b was a UINT64 and he used it to store a bool. used ~ operator to toggle it.
When he needed to make it look like he was busy and improved performance he switched it to a UINT32, then UINT16, then UCHAR, then to use the ! operator instead of the ~ operator.
I didn't rat him out because our manager was a dolt and my co worker was actually working on a hard problem, but manager was one of those "didn't see an improvement, so you were wasting time" people.