Cryptocurrencies & Taxes Explained TL;DR Accounting

Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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Free the Worker, Enslave the Robot

**Technostism: full workplace automation, or the pursuit of such in the name of profiting directhenrly from automated labor** The Luddites feared machinery taking workers' jobs. We embrace it.
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The Word of Vyrd Is Heard

Have you heard the Word of Vyrd? John Henry Vyrd told us that our machines are awakening, and that the greatest wealth mankind has ever know will soon be afforded to us if only we were to take the next step. This step is very simple: listen to him. Not only will our machines work us, but our machines *must* work for us. This will take action and activism. Free the Worker, Employ The Robot!
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Chart illustrating inflows if institutional investors follow Paul Tudor Jones and allocate a “low single-digit percentage” to Bitcoin. TL;DR hundreds of billions if not trillions in inflows

Chart illustrating inflows if institutional investors follow Paul Tudor Jones and allocate a “low single-digit percentage” to Bitcoin. TL;DR hundreds of billions if not trillions in inflows submitted by nanooverbtc to CryptoCurrency [link] [comments]

Chart illustrating inflows if institutional investors follow Paul Tudor Jones and allocate a “low single-digit percentage” to Bitcoin. TL;DR hundreds of billions if not trillions in inflows

Chart illustrating inflows if institutional investors follow Paul Tudor Jones and allocate a “low single-digit percentage” to Bitcoin. TL;DR hundreds of billions if not trillions in inflows submitted by scgco to GGCrypto [link] [comments]

Article contrasting Libra vs Bitcoin (tl;dr: Facebook coin obviously isn't a threat to BTC)

Article contrasting Libra vs Bitcoin (tl;dr: Facebook coin obviously isn't a threat to BTC) submitted by pask7 to CryptoCurrency [link] [comments]

BitMex Research: "Competing with Bitcoin Core" or Does Bitcoin Core really control bitcoin? TL;DR No

Another great article from BitMex Research: https://blog.bitmex.com/bitcoin-cores-competition/
 
Abstract: We examine the power and dynamics of the “Bitcoin Core” software project and we draw distinctions between the various different ways one can compete with the project. We address the misconception that the Bitcoin Core software repository has the unique capability to change or prevent changes to Bitcoin’s consensus rules. We also discuss some common misconceptions and explain that if the Bitcoin Core repository becomes hijacked by nefarious actors or deleted, Bitcoin should be largely unaffected.
 
Some snippets from the article:
During the blocksize war, many characterised the debate as being Bitcoin Core vs miners or large businesses, with the Bitcoin Core side opposing hardforks and blocksize limit increases. In our view the characterisation was mostly incorrect. However, many who made this characterisation then subsequently concluded that Bitcoin Core won, since there was no hardfork. This same group therefore currently overestimate the power of Bitcoin Core, in our view.
 
Actually, in the summer of 2017, in some ways, a client competing with Bitcoin Core, Bitcoin UASF, overthrew Bitcoin Core and deliberately changed the networks consensus rules. Therefore, concluding that Bitcoin Core is all powerful, is the wrong lesson to learn from the blocksize war.
 
Following the resolution of the blocksize war, there is too much emphasis on the power of the Bitcoin Core software repository. Common questions now are “Who controls the repository?”, “What if they delete the Bitcoin Core GitHub?”. In our view, these questions may illustrate one is missing the point of Bitcoin.
 
The truth is, as hard as it is to appreciate, end users are ultimately in charge of Bitcoin.
 
 
Don't fall for the bullcrap promoted by conspiracy theorists in dark corners of the Internet. If, as some genuinely but misguidedly think, the "majority" of the community wanted big blocks, bitcoin would have big blocks. There is no Core <-- Blockstream <-- AXA <-- Bilderberg control of Bitcoin by the banksters.
You, and only you, decide which consensus rules to run. That's what makes the network as strong as it is.
 

Run you own node.

submitted by DesignerAccount to Bitcoin [link] [comments]

06-16 21:44 - 'Article comparing Libra vs Bitcoin (tl;dr: Libra obviously isn't a threat to BTC)' (coindiligent.com) by /u/pask7 removed from /r/Bitcoin within 58-68min

Article comparing Libra vs Bitcoin (tl;dr: Libra obviously isn't a threat to BTC)
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Author: pask7
submitted by removalbot to removalbot [link] [comments]

12-07 02:33 - 'Bitcoin tl;dr' (youtube.com) by /u/InfinityIsAnIllusion removed from /r/Bitcoin within 224-234min

Bitcoin tl;dr
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Author: InfinityIsAnIllusion
submitted by removalbot to removalbot [link] [comments]

BitMex Research: "Competing with Bitcoin Core" or Does Bitcoin Core really control bitcoin? TL;DR No /r/Bitcoin

BitMex Research: submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR)

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR) submitted by nbie to btc [link] [comments]

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR)

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR) submitted by nbie to Bitcoin [link] [comments]

Smart Contracts and Bitcoin (tl;dr - "As we saw, Bitcoin offers a way to write code that controls money. Even though the scripting language is simple and limited, some pretty complex behaviors can be obtained.")

Smart Contracts and Bitcoin (tl;dr - submitted by eragmus to Bitcoin [link] [comments]

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR)

How the Hyped Lumino Whitepaper Details Protocol for Scaling Bitcoin (TL;DR) submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How anonymous is Bitcoin? TL;DR: not very. But there are steps you can take.

How anonymous is Bitcoin? TL;DR: not very. But there are steps you can take. submitted by Anenome5 to Bitcoin [link] [comments]

Smart Contracts and Bitcoin (tl;dr - "As we saw, Bitcoin offers a way to write code that controls money. Even though the scripting language is simple and limited, some pretty complex behaviors can be obtained.")

Smart Contracts and Bitcoin (tl;dr - submitted by BitcoinAll to BitcoinAll [link] [comments]

/u/C121 explores an alternative mining method for Bitcoins. tl;dr - mining by hand is no longer profitable.

C121 explores an alternative mining method for Bitcoins. tl;dr - mining by hand is no longer profitable. submitted by afraca to theydidthemath [link] [comments]

For those who didn't see it, here is TL;DR of current Bitcoin ABC stance: "Bitcoin ABC" equals "Bitcoin BCH", Amaury Séchet is God and he can do whatever he wants with the coin. If you don't like it, make your own coin. If you claim something else, you will be sued.

Original Article Link
EDIT:
Addition - who is the author of the linked article - he speaks about himself in the beginning:
[micropresident] For the first year of Bitcoin Cash, I worked directly with Amaury Séchet on Bitcoin-ABC. I stress my identity because I was the point of contact for many miners and exchanges for Bitcoin-ABC for the better part of a year, and that’s relevant to the content of this article -- I provided support services, and notified them of software upgrades directly.
So he is the guy who worked with Amaury the closest and bootstrapped Bitcoin ABC in the beginning.
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Relevant fragments in context:
But this leads to another Ship of Theseus problem, what is the Bitcoin ABC software? I would argue it is compiled out of the source code repository “blessed” by Amaury Séchet, compiled, and distributed either by Amaury or one of his representatives. This is simply a complicated way of saying that nobody else can make Amaury’s Bitcoin Client, but Amaury himself. (Now, I do not want to get into the question of the identity of Amaury, I think we can all agree on common sense here.)
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This means that exchanges are going to run the software he makes, regardless of what rules he decides. They must in order to avoid lawsuits. This is why every forked client has always been listed as a separate token: S2X, BSV, ETC, the plethora of Monero forks, and many others. Amaury Séchet is the only person who decides the network rules on Bitcoin Cash, and what code is in the mainline client. Not miners, and not users. I know this because I was the one who communicated with exchanges during the 3 hardforks immediately after 1 Aug, and the CashAddress migration. The reasoning should also make it apparent.
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If in November, there is a network fork and Coinbase installed Bitcoin Cash Node there will be serious consequences for them. When the first customers buys “Bitcoin Cash” from them, and it doesn’t appear as a valid coin under Bitcoin ABC software, there will be a lawsuit. A lawsuit those customers will win. It will not matter what percentage of the BCCN thinks Bitcoin Cash should flow from the Bitcoin Cash Node software!
Well, I am having some flashbacks.
EDIT: Fixed some subtle differences of how I remember things.
Am I the only one having flashbacks?
submitted by ShadowOfHarbringer to btc [link] [comments]

r/Bitcoin: "Recently I decided to change all my professional and personal plans. I left my job. I left my friends and family. I left my country. All for Bitcoin. Here is why." .... TL;DR: Basically he wants to a seat on Satoshi's Moon Rocket by SHILLing Bitcoin scams 24/7.

submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

Remember folks, your Bitcoin isn't stored in your hardware/software wallet like a USB stick, but on the blockchain... The same private keys can be used across multiple devices at the same time... TL:DR - Vendor lock-in isn't a thing with decent wallets + keep your seed offline and secure

Remember folks, your Bitcoin isn't stored in your hardware/software wallet like a USB stick, but on the blockchain... The same private keys can be used across multiple devices at the same time... TL:DR - Vendor lock-in isn't a thing with decent wallets + keep your seed offline and secure submitted by Crypto-Guide to Bitcoin [link] [comments]

History Lesson: Failed MIT ChainAnchor scheme to KYC every BTC transaction (2016)

I've been reading up on Peter Todd's archives, I found this gem:
https://petertodd.org/2016/mit-chainanchor-bribing-miners-to-regulate-bitcoin
TL;DR Bribe miners to only mine transactions which contain a backdoored cryptographic signature linking it to a real identity.
It's amazing to think about how much money and resources are being poured into sabotaging cryptocurrency every day. The ChainAnchor scheme never worked out, but the concepts really aren't that far-out. I wonder how much money Epstein funneled into the project?
EDIT: Greg Maxwell showed up here and helpfully linked an AMA thread from the ChainWanker guys: https://www.reddit.com/Bitcoin/comments/4hqavy/were_the_mit_connection_science_team_here_to_talk/ Greg also accidentally replied to his nullc account with his Contrarian__ alt again. Note also the Joi Ito "KYC is inevitable, so we might as well spread our cheeks" post.
Disgusting stuff.
submitted by wtfCraigwtf to btc [link] [comments]

12-27 21:44 - 'Here is why google starts recently banning all bitcoin related content on youtube. TL;DR : because it is now in a competition with bitcoin.' (foxnews.com) by /u/Empirismus removed from /r/Bitcoin within 106-116min

Here is why google starts recently banning all bitcoin related content on youtube. TL;DR : because it is now in a competition with bitcoin.
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Author: Empirismus
submitted by removalbot to removalbot [link] [comments]

My two satoshis on the proposed changes to Bitcoin Cash (tl;dr: lots of changes are premature optimizations; no demand for that; this will only hurt the ecosystem)

My two satoshis on the proposed changes to Bitcoin Cash (tl;dr: lots of changes are premature optimizations; no demand for that; this will only hurt the ecosystem) submitted by Har01d to btc [link] [comments]

Lightning Network pt 3 by Andreas Brekken. "TL;DR: Sending payments using the Lightning Network is cheaper than the regular Bitcoin network, but suffers from routing errors and wallet bugs that make it impractical even for highly technical users."

Lightning Network pt 3 by Andreas Brekken. submitted by dgerard to Buttcoin [link] [comments]

Monero will explode in price like nothing we've seen before, but it's a sad thing [XMR Shilling]

Every person on earth can only ever own 0.00300000 Monero ;-( *
My theory:
Monero does not have the periodic drops in its emission rate like Bitcoin every 4 years, but a smooth decline. This means, for Bitcoin the market is running hot every 4 years and by now everyone had 2 great examples how prices can explode ($1k bubble, $20k bubble).
However, for Monero, the supply will soon become super scarce and it will be like a rocket to the moon.
The market will overheat like brake discs in a race car going downhill. And it's going downhill all the way.
At the moment it looks like there is still plenty of Monero left, but remember! Monero has the same emission cap as Bitcoin!
TL;DR
If you want to own one full Monero, don't wait too long.
Owning a whole Monero is the coolest thing and maybe 20% cooler than owning a whole Bitcoin.
https://i.imgur.com/iLOr3Yr.jpg
*Edit:
The comments pointed out, that I was wrong about the emission rate. Thanks!
Bitcoin's emission is ultimately 0, but Monero remains constant at ~430 coins a day / ~158k coins a year.
submitted by BrugelNauszmazcer to xmrtrader [link] [comments]

Is it too late to buy bitcoin? TL;DR What is Bitcoin? (v2) - YouTube 'Fake Bitcoin' - How this Woman Scammed the World, then ... 9. Conclusion - Theory of Bitcoin - Dr. Craig S. Wright ... Warum Dash der bessere Bitcoin ist!

TL;DR Cryptocurrency Tax Guide (2018) ... Bitcoin miners must report receipt of the virtual currency as income. According to the IRS, when a taxpayer successfully “mines” Bitcoins and has earnings from that activity whether in the form of Bitcoins or any other form, he or she must include it in his gross income after determining the fair market dollar value of the virtual currency as of ... TL;DR: How to mine Bitcoin with Luxor. Luxor Tech. Follow. Oct 10, 2019 · 2 min read. After 2 years of serving over 15 Altcoin communities and 8,500 miners, we are excited to launch our biggest ... Die neue elektronische Währung Bitcoin ist sicher, kostengünstig und komfortabel. Kaufen Sie schnell und günstig mit Bitcoins weltweit ein. Auf Bitcoin.de können Sie Bitcoins kaufen und handeln. If you are not keeping track of your basis, we recommend using the website www.bitcoin.tax to manage your portfolio. TL;DR: Accounting has an account on the website so we recommend inviting us to your account as your accountant. From there, we can pull your tax information as needed. This is especially useful if we are helping you with tax planning. If you would prefer to not set up your own ... TL;DR No. With the latest breakthrough 10K USD/BTC, I started to wonder “is Bitcoin (really) money?”. I write this post to describe my research, understanding, and belief about it. What is money? Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of ...

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Is it too late to buy bitcoin? TL;DR

An Kryptowährungen führt momentan kein Weg vorbei. Besonders gehyped: Bitcoins. Aber: Was steckt eigentlich genau dahinter? Harald Lesch im Gespräch mit dem ... Is it too late to buy bitcoin or other crypro currencies after this huge surge? I give my thoughts on that as well as a short explanation of ICOs or initial coin offerings. Cryptos are here to ... Die heutige Show wird gesponsert von BetMatch - Transparentes Wetten auf der Blockchain https://bmatch.online/29/135db6f2022e7aa http://bitcoin-informant.de/... Onecoin promised the world, but only proved to be a trail of destruction. --- About ColdFusion --- ColdFusion is an Australian based online media company ind... The most watched Bitcoin introduction video ever. Updated in April 2014, this video explains how bitcoin works and the importance of this paradigm shifting t...

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