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Showing 12 of 12 results by FiniteKez
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Topic
Board Altcoin Discussion
Re: Suggestion For BCC Wallet?
by
FiniteKez
on 03/08/2017, 20:11:34 UTC
I tried downloaded the electron wallet binary but it was removed as a detected Trojan. I managed to compile the wallet from the github but it was a pita on windows. It did work and managed to send my bcc to an exchange without problems once electron actually compiled.
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Topic
Board Economics
Re: Japan now #1 in volume
by
FiniteKez
on 03/08/2017, 19:02:20 UTC
Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)     Week 7/23  Week 7/16
USD/BTC  621k  982k
CNY/BTC  180k  255k
JPY/BTC  94k  168k

Looks like Japan's volume is still way behind both China and the US.
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Topic
Board Speculation (Altcoins)
Re: Buying shitcoins dirt cheap and selling when they go up. Risky or no?
by
FiniteKez
on 31/07/2017, 17:53:42 UTC
That's my current strategy right now.

Buying any coin on a steep decline and selling once the price tries to balance.

What do you guys think?

Of course that's insanely risky. We are well over 800 coins now (not to mention all the eth tokens). Assuming that 75% of those are garbage coins, you'll be spreading yourself pretty thin over 600 coins hoping to hit a winner. But lets imagine you did this. How do you decide when to sell and take your winnings? People get all excited when they see things like chaincoin rise 5,900%. I've heard people say "well if you put $200 into chaincoin before it pumped to $6, you would have had $12k." But imagine you actually did put $200 into chain coin when it was $.10. You see it double, do you sell? 2x is great. Now its 10x, do you sell? That's a 900% gain, more than anyone could hope for. 20x, 30x, 40x, 50x, 60x it just keeps going up you can't sell and miss out on these gains. And then within days you're back down to 6x and probably only going down from here.

It's easy to look back and say "Well only a couple bucks in this shit coin woulda been a ton at the peak." But in reality, it's impossible to tell where the peak is going to be. Overall, you'd be lucky to break even just trying to shotgun shitcoins. Even if you did make a bit of gains, it would probably still be much less than the gains from a simple strategy like holding the top 10 coins.
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Topic
Board Bitcoin Discussion
Re: Bitcoin is NOT mathematically limited to twenty one million bitcoins
by
FiniteKez
on 31/07/2017, 17:36:43 UTC
Again I'm not asking for support to raise the cap, I'm just pointing out it could be raised and that we should stop referring to it as some aspect of Bitcoin that is mathematically limited by fundamental laws of the Universe because its not, its consensus limited.

Its a "fundamental principle" of the Bitcoin community yes, its  strongly held as one of our core tenets. But it could still be changed. So stop saying its limited without pointing out what its limited by.
Other things about Bitcoin irk me too, like the wallet should be called a key chain. Bitcoin is inflationary not deflationary. Or how 60% of all bitcoins have never been spent and are likely lost forever But no one takes this into consideration when calculating the market cap of Bitcoin.


It just irks me and I'm pointing it out.

Currently bitcoin is limited to a total number by the rules of math and code. Yes, if you could get everyone to agree to change the code then the limit could be increased. Hell, if you could get everyone to agree we could change the code so that every block required a cat gif be attached. Literally any part of bitcoin could be changed with enough support, but we assume these things as reasonably core tenets since it seems unlikely for them to change. So the bigger question is why would we ever want to raise the cap?
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Topic
Board Legal
Re: Taxation on Casascius coins - USA
by
FiniteKez
on 28/07/2017, 13:29:11 UTC
Yes capital gains applies to physical items too. There's lots of information covering capital gains from people who hold gold and silver. And to answer your second question, no you can't ignore profits on the physical coin. Although being a simple brass coin, the actual value of it is going to be pretty low compared to the bitcoin on it. I would be careful on how you try to sell the coin as well. From what I remember, that operation was shut down by the government because they considered physically minted bitcoins something you needed a license to sell.
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Topic
Board Trading Discussion
Re: Where to study trading and technical analysis?
by
FiniteKez
on 27/07/2017, 19:52:33 UTC
I'd be careful trying to learn trading from youtube or investopedia. Actually I'd avoid it all together. There's tons of great information on both sites, but also equal amounts of garbage. Avoid TA, or if you insist on using it read "Evidence-Based Technical Analysis" which will give more insight into how to actually judge the value of TA methods (spoiler: most simple methods like macd cross over are garbage). Put 90% of your capital into a hodl account, something you wont touch for a few years. Use the other 10% to play with trading. Demo accounts are about as helpful as trying to play poker with fake money. Without the emotion or skin in the game, you play differently. Most importantly, don't rely on emotions to trade. Learn how to backtest and learn how to translate what you think the market will do into a testable method.
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Topic
Board Announcements (Altcoins)
Re: [ANN] WiC | Monetizing WiFi Sharing | Developed Technology | Token Sale Soon
by
FiniteKez
on 24/07/2017, 17:27:08 UTC
So a couple concerns jump out at me. How are those providing wifi protected from users committing illegal activity through them. Are people just risking a visit from the police by offering wifi to unknown users? Also could be used to identify people who keep crypto information on their phone. Seem like a good way for potential muggers looking for crypto users to identify targets.
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Topic
Board Legal
Re: Taxation on Casascius coins - USA
by
FiniteKez
on 24/07/2017, 17:14:12 UTC
It would be long term capital gains, just like if you were selling a stock you had held for more than a year. The rate you pay for capital gains depends on your tax bracket. For someone filing as single the capital gains rates are:
Tax Bracket|Capital Gains
10%   |   0%
15%   |   0%
25%   |   15%
28%   |   15%
33%   |   15%
35%   |   15%
39.6%   |   20%
Post
Topic
Board Altcoin Discussion
Re: Investing in a coin before a large split to increase ones earnings.
by
FiniteKez
on 21/07/2017, 19:18:37 UTC
I'm not super optimistic on bcc taking off, but hey why not. I'll probably wrap up some of my alt coin shorts that were backed with btc and move the btc over to a paper wallet while we see what happens with the split. Personally, I don't think the price drop/gain is going to be as dramatic as the community thinks it will be, but I'm all for free spin off coins.
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Topic
Board Announcements (Altcoins)
Re: [ANN] [ICO] Elite Token (ELT) - token for real cryptocurrency numismatists
by
FiniteKez
on 21/07/2017, 18:55:09 UTC
I get the desire to do limited supply do increase demand. But at only 100 coins, there will be so little volume that no exchange is going to pick it up. If no exchange picks it up, it will never see any real increase in price or use. I fail to see the point here.
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Topic
Board Micro Earnings
Re: How To Know a Faucet is a SCAM!!!!
by
FiniteKez
on 20/07/2017, 16:00:03 UTC
Honestly most faucets are either not worth the time, or not worth the risk of getting some malware from a shady site. You're better off saving up a few bucks and just investing that.
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Topic
Board Economics
Re: About world crisis and criptocurrency
by
FiniteKez
on 18/07/2017, 13:53:36 UTC
I think when crypto currency has more wide spread acceptance the reaction to economic downturn might be similar to gold. That is, that people will use btc/altcoins as a safe place to store their savings.

But the current market is still in the early phases, so crypto is seen as more of a risky, speculative investment. So if a world crisis were to happen in the next month, I would expect to see crypto as a whole fall. People don't tend to put money towards high risk markets during times of uncertainty.