Crypto thread

I’m all set with sending my bitcoin to a Canadian lobsterman but thanks for the offer 

@I_Need_A_Detox

 Yeh i wasnt think you would be interested, i thought maybe some of the others might be. Im the one sending the cash. Not in reverse.

Sorry I know this is a crypto thread. There’s seems to be some intelligent people on here and wanted others opinions on physical silver. Seems like with the green push coming such as evs, solar, etc....silver should flourish. Looking for others opinions since I know it’s easy to get stuck in your own “little world” with all these algorithms when researching. 

Make money in crypto this year and then buy silver or gold is probably not a bad play imo 

MicroStrategy Completes $1.05 Billion Offering of Convertible Notes at 0% Coupon and 50% Conversion Premium with #Bitcoin Use of Funds

https://www.microstrategy.com/en/investor-relations/press/microstrategy-completes-1-05b-offering-of-convertible-senior-notes_02-19-2021

The buying starts now and will probably take coinbase until Monday to complete the OTC transaction for him 

Bitcoin's market cap crosses $1 trillion

Micro strategy really uses coinbase to purchase bitcoin? Do they keep their coins on exchanges? 

They use Coinbases OTC service. Tesla also used them to buy their $1.5 billion worth of BTC.

Decent article here. 

https://medium.com/the-capital/coinbase-is-turning-the-bitcoin-market-upside-down-with-tesla-and-microstrategy-7c8e716c803c

Thanks. I could of sworn I read an article back in the day stating coinbase was backed by the fed

A users USD wallet on coinbase is covered by FDIC insurance but they’re not backed by the Fed 

SENIOR DEMOCRAT OFFICIALS PROPOSING A $3 TRILLION JOB AND INFRASTRUCTURE PACKAGE ON TOP OF $1.9 TRILLION BIDEN COVID STIMULUS BILL - WAPO

Just to put into perspective what an additional $4.9 trillion would be if evenly distributed to the 332 million people in the US; $14.75 million per person. Why don’t we just do that?

Hmmm maybe maybe not 

Can someone do that math problem please it broke my brain 

$4.9 trillion divided by 332 million 

Each person would get $15,217 

Erase the last 2 comments from your minds 

I could be wrong on this but I think ... 

Short term capital gains tax (held less than 1 year) would be 37% for these corporations vs 20% if they hold for over a year. 

Leads me to believe they’ll be holding until at least 2022. 

Thoughts? 

I was just going to ask you about how capital gain tax works if I move my bitcoin from a wallet to an exchange to sell. The exchange would know if I held over a year or not? 
Im curious as to how they are going to handle taxes in the future on this stuff. Crypto, nfts, etc...

Is it public knowledge how many bitcoin these whales currently have? This would be nice to know to get an idea of how much they could potentially manipulate the price.

Yeah I’m not sure. 

I can see how they’ll know when you cash out and go from coinbase to your bank account but I’m not sure how they’ll know about your transactions on SushiSwap or BiKi exchange. 

Never mind person to person transactions.

And NFT’s can be sold and bought by the same person using 2 different wallets.

And what if you put all of your bitcoin on a Nano Ledger and then “lose” it while boating? 

Lots of questions. 

The corporations need to disclose. Michael Saylor has a personal stash plus his businesses stash. 

He’ll update in a tweet Monday I’m sure. 

Chamath has a ton. 

You can get an idea if you dig. 

Not sure how true it is, but it's estimated that over 4 million bitcoin have been lost which would drive the 21 million total even lower. Guess they used to have crypto conventions back in the day and were literally giving out vouchers for 1 bitcoin to each person who attended. Most people never even redeemed them. 

What if I keep my crypto on an exchange — leave my password information on my work desk and the cleaners come in at night, log into my account, convert it to Monero and send it to their decentralized Monero wallet? 

I would no longer have crypto to report on my taxes? Could I claim a loss? 

I always think this is what’s happening when exchanges get “hacked”. I always think it’s a tax scam. 

Wallstreet, what are your thoughts on all of this MicroStrategy stuff? 

(old man yells at sky) 

Michael Saylor is a MIT rocket scientist that was among the first people in the world to use the computer to develop trading models when he worked for DuPont in the 80’s. 

What are the odds that he’s buying the top? 

Slim to none. 

My goodness. Can we get a little pullback please? This is worrying me.

“Yes, there is a bitcoin revolution but there is a digital asset revolution going on that is beyond incredible. It is very early days, like BTC in 2013, but it's happening. Some will be on the BTC blockchain but the vast majority will not be.

This makes it all the most exciting opportunity I have EVER seen. The metaverse, the internet of value, SoV, pristine collateral and an entirely new future is beyond BIG. It is the next and biggest part of the internet revolution and its only just started.

It will have booms and busts. Projects will fail and some will be worth hundreds of billions.

But everything has changed. Keep your mind open.” 

— Raoul Pal 

I agree with Raoul here.