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Re: The new era of Bitcoin '25 begin with square
by
headingnorth
on 24/07/2025, 01:08:02 UTC
Satoshi envisioned bitcoin becoming widely adopted as peer-to-peer electronic cash. I think the biggest barrier stopping that from
becoming reality is government regulation, because govts don't like bitcoin competing with their respective local fiat currencies.
But it seems these days that is becoming less and less of an issue, at least in the US.

For example, there is a bill going through Congress to exempt bitcoin payments under $300 from capital gains.

Some US retailers like Newegg.com have been accepting bitcoin for years. I have used bitcoin payments myself to buy computer products
from them since 2022. More recently the Steak N Shake restaurant franchise (founded in 1934) started accepting bitcoin
in all 400 of their US locations. Coinbase has a debit card you can use to pay for stuff with your bitcoin from anywhere that accepts
a regular debit or credit card (I use one myself).



This is my favorite presentation from the Las Vegas conference last month:
Square Announces Bitcoin Payments w/ Miles Suter | Bitcoin 2025

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Re: Anyone heard of xbitbank.com? Legit or fake?
by
headingnorth
on 21/07/2025, 04:22:24 UTC
Trading in anything is a great way for idiots to lose all their money. Not much different than losing it from a scam LMAO.





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Re: 14 years activating 80,000 BTC?
by
headingnorth
on 20/07/2025, 07:54:32 UTC
Some ideas:

1. The owner of the 80k bitcoins is Satoshi himself.

2. The owner lost the private keys years ago, and just recently found them.

3. Is it just a coincidence the 8,000 bitcoins lost in the landfill by the owner James Howell is similar
    to the number 80,000? Of course its ten times less than 80K but the numbers are similar,
    but off by just one zero.
 


I dont think Satoshi mined any bitcoins that late. He mined lots in 2009 or early 2010 but when
he noticed the network was supported to many nodes and miners, he stopped mining, its definately not him.
I dont think Satoshi will ever sell any of his mined bitcoins.


I don't think Satoshi will sell his bitcoins, but it would make sense for him to eventually move them
to a more secure bitcoin address, if he is still alive to do so. I have no idea if the 80K are Satoshi's or not,
just thinking out loud.



Yeah its possible the private keys were lost and recovered however, why move all this money
and why send $1B to an OTC exchange, why not sell $1M at first. Seems very strange.

Maybe in a couple weeks we will find out who this exactly is and why he is moving so much BTC.

It doesn't makes sense to move and sell such a huge amount all at once.
But it might make sense to do that if your only goal is to move them out
of their old legacy address, and into a more secure segwit address.
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Re: Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
by
headingnorth
on 20/07/2025, 03:54:16 UTC
AFAIK, to qualify for the S&P500 you need to have operations outside of financial services.

So if your company is only holding bitcoin, without providing other products or services,
you are considered a financial services or investment company which isn't allowed.

You can hold bitcoin on your balance sheet as long as you have a real business outside of investing.
So Microstrategy could qualify because they have a software business outside of bitcoin.
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Re: Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
by
headingnorth
on 20/07/2025, 01:24:00 UTC

Man, what a beast Dorsey is. I am surprised though that they dont have much more bitcoin on their balance sheet. I guess its just the average Joe thst uses cash app though it's not really geared for big business, right? I like his Satoshi shirt, cash app is pretty cool too. His new bit messenger app is also pretty cool. Adding bitcoin payments and adding another option for consumers is great for adoption.


Dorsey is a real OG, getting into bitcoin since 2010 and incorporating it into his Cash App program in 2013.
I'm starting to think he may be Satoshi Nakamoto himself, or maybe his uncle or brother.
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Re: How do i cash out old bitcoin legally without getting destroyed by taxes?
by
headingnorth
on 20/07/2025, 01:05:17 UTC

Way cheaper with fewer headaches would be just to travel around Europe and cash out at ATMs while on vacation, still plenty of countries with no KYC under 500-1000 and still enough ATMs
with under 5% fees.
Cheaper if there was no travelling around and "forced vacations"  Grin
I think it's sort of hectic trying to cash out close to $300K in that fashion.

You can try selling on non-KYC exchanges like Bisq or Robosats.
How will he explain the additional $300K in his accounts to the tax authorities? I curiously want to know.



Obviously, you don't sell it all at once. You have the option to be
paid in cash or any other means agreed to with the buyer.
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Topic OP
Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
by
headingnorth
on 19/07/2025, 23:20:26 UTC
Jack Dorsey's payments company Block is getting added to the S&P 500.
The company holds over 8,500 bitcoins on their balance sheet.

At the Las Vegas Bitcoin conference Block announced they plan to roll out bitcoin payments
to their millions of credit card machines. That could be huge for bitcoin payment adoption.


Quote
Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion

...Inclusion in the index means Block shares will appear in portfolios run by mutual funds
and institutional managers following the S&P 500, the stock market’s benchmark index.

Earlier this year, Coinbase (COIN) became the first cryptocurrency firm to join the index
and at the time its shares saw a similar jump.

Block is best known for its Cash App and Square, as well as its ongoing integration of Bitcoin
into its business model. The company piloted real-time bitcoin payments earlier this year and
is looking to roll out the feature broadly next year.





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Re: How do i cash out old bitcoin legally without getting destroyed by taxes?
by
headingnorth
on 19/07/2025, 22:46:59 UTC
You can try selling on non-KYC exchange like Bisq.
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Topic
Board Bitcoin Discussion
Re: 14 years activating 80,000 BTC?
by
headingnorth
on 19/07/2025, 22:28:46 UTC
Some ideas:

1. Maybe the owner of the 80k bitcoins is Satoshi himself.

2. Maybe someone lost the private keys years ago, and he just recently found them.

3. Is it just a coincidence the 8,000 bitcoins lost in the landfill by James Howell is similar
    to the number 80,000? Of course its ten times less than 80K but the numbers are similar,
    but off by just one zero.
 
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Topic
Board Bitcoin Discussion
Re: Bitcoin Developers float proposal to freeze Quantum computers.
by
headingnorth
on 19/07/2025, 03:03:54 UTC



If QC can hack bitcoin, then it could hack anything including every altcoin, every banking account in existence,
every email, nuclear launch codes, etc. This would trigger worldwide panic and lead to economic collapse.

I doubt the developers of QC including Google, Microsoft, IBM, Intel, etc would allow that to happen.
So I don't think  they would be selling an advanced quantum computer to just anyone. It would be like selling a nuclear bomb
to anyone who wants one. Like nukes QC could very easily be used as a weapon of mass destruction in the wrong hands.

So the QC companies will probably be working with industry and governments to quantum-proof
their systems and networks beforehand. These quantum-proof security measures will likely be open-source
and made widely or publicly available long before advanced QC is ever released as a commercial product.

When that happens then you know the technology has matured enough to be a potential threat, but the security
against it will also be widely available. So to me it's just a lot of needless fearmongering.
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Merits 1 from 1 user
Re: Bitcoin Developers float proposal to freeze Quantum computers.
by
headingnorth
on 18/07/2025, 23:35:37 UTC
⭐ Merited by vapourminer (1)
Quote
Re: Bitcoin Developers float proposal to freeze Quantum computers.

Freeze quantum computers? What? Your title makes no sense. Do you mean freeze legacy addresses?


It looks like this proposal would give you up to 5 years to move your coins to a new quantum proof address.
Any funds left in legacy addresses after three years would be permanently frozen, but there would be
some kind mechanism to prove ownership to unlock frozen funds.

Freezing funds is an extreme measure, but could be justified given the extreme threat of quantum computing
to the bitcoin network. If they get it right it could work.




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Re: 8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 14/07/2025, 23:25:48 UTC
It's great that day did not invest in bitcoin. We do not want more corporate or government to come into this market and buy a huge stash of Bitcoins. Bitcoin needs to stay in the hands of common people like you and I. Really we don't need corporates to get into bitcoin.

In a couple of years, these corporates will become so powerful that they hold the power to manipulate the market at their own will. We do not want that. Glad that Microsoft voter against buying bitcoin. I hope it stays that way forever.

Well it's probably too late to wish for that. Hundreds of companies and institutions have already invested in bitcoin.
The current bitcoin cycle and record high prices is largely driven by institutional adoption, while retail is largely absent.

Why? Maybe because the "smart money" understands the value proposition of bitcoin. While the dumb money is
busy screwing around with things like memecoins, lottery tickets, casinos, sports betting, US treasuries, etc.

I believe it helps to have more companies holding bitcoin than fewer, to prevent too much concentration
in the hands of the few.





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Re: 8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 13/07/2025, 23:06:25 UTC
It seems I have triggered a lot of snowflakes with this thread. To be clear Microsoft is still a great company,
but that doesn't mean they are incapable of making bad decisions. It is pretty stupid and naive to think
just because a company is very large and successful means they are incapable of making bad decisions.
Just because a company is great today doesn't guarantee it will be great tomorrow.

The list of widely of highly respected companies that have destroyed themselves over the years because of bad decisions is endless.
Far too many to list. Boeing, Tesla, Enron, Lehman Brothers, Chrysler, Washington Mutual to name a few.

If you think big companies can't make bad decisions then why are you investing in bitcoin?
Why not just put all your money into Boeing, Microsoft, Tesla, etc. if they can do no wrong?
Or maybe you really aren't into bitcoin and are just here to troll the forum?

It amazes me the amount of worship of these big companies. Some will still praise the likes of Tesla,
Boeing, Microsoft, no matter what they do good or bad. It is very cult like behavior.


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Re: Don’t fall into the take profit trap $118.8k isn’t it.
by
headingnorth
on 13/07/2025, 19:30:19 UTC
Considering how solidly the bitcoin price is holding up and keeps steadily rising,
I believe it is safe to say we are nowhere near the top (personally I don't believe bitcoin even has a top).

Which means hardly no one is selling, and there are far more buyers than sellers.
There are some seemingly wild predictions for the price reaching in the millions of dollars per coin,
but there is a lot of solid reasoning behind it. So for me I would not be quick to dismiss them.
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Re: Why doesn't one multi-billionaire buy a huge share of all bitcoins?
by
headingnorth
on 13/07/2025, 19:00:18 UTC
So why haven't any of them bought most of the bitcoins?


Because bitcoin's marketcap is worth trillions, not billions of dollars.
So you'd have to be a trillionaire, not merely a billionaire, to buy up most of the supply.

Secondly, you'd have to find enough people willing to sell you their bitcoin, and
since most are long-term holders it is simply not possible to find enough sellers to sell them to you
for you to stack most of the bitcoin in the world (over 50% of the total supply in existence).

Even if someone had the money, it is simply not possible to do it without massively driving up the price of bitcoin
in the process of attempting to accumulate more than 50 per cent of the supply. It would take years of accumulation,
not something that can happen over night. In the meant time you are competing with millions of others also trying
to buy a very scarce and limited asset, massively driving up the price. So it is simply not possible to do it.
.



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Re: 8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 13/07/2025, 11:43:43 UTC
Not a very smart move. Larry Fink does not approve.

MS had tens of billions in cash to invest. Would it have killed them to allocate
just a tiny bit, maybe $10 million or so to bitcoin?
At this point, I believe they just did not want to be associated with bitcoin or crypto and all the ideologies that comes with it. Because with how big their company is, I am sure that they can afford to take a little bit of risks and not to mention that bitcoin has proven itself to be profitable despite being volatile. So that could only be the explanation.

I could understand that if this was 2014 when bitcoin was seen as something used mostly by criminals and other nefarious purposes.

But in 2024 the sentiment has completely changed for bitcoin. Wall Street and even the US government has embraced
bitcoin as a legitimate investment asset, so it seems crazy to me not to invest in it. One of the biggest holders of Microsoft
stock, Blackrock even recommended an allocation to bitcoin, and they still said no? To the biggest and most respected asset
manager in the world? I don't know what else to call that but stupid. 

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Re: 8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 13/07/2025, 11:01:37 UTC

At this point, I believe they just did not want to be associated with bitcoin or crypto and all the ideologies that comes with it. Because with how big their company is, I am sure that they can afford to take a little bit of risks and not to mention that bitcoin has proven itself to be profitable despite being volatile. So that could only be the explanation.

In other words, they are an example of collective stupidity at its finest.

What is the real purpose of this topic? Are you a Microsoft shareholder and you feel they have made you miss out on a huge opportunity to make a profit? Or are you feeling angry because they decided not to invest in bitcoin, and that couldn't push the price of bitcoin higher so you could make more profit?

Since owning bitcoin I stopped investing in the stock market because of all the counter-party risk and having
to deal with the humans who run the companies, having to keep up with the news and ever-changing financials and
of fundamentals of each company, etc. to figure out of you should keep holding or just dump it.

That is a lot of stress and time spent. To me it's not worth it anymore. Hundreds of great companies have gone bankrupt,
or destroyed their reputation, etc. over the years because of the poor decisions of the people running them,
and/or because of incompetence, corruption, etc.

Boeing is a poster child example of that, and even Tesla to a lesser extent with such a erratic CEO running it. 
Are you going to tell me we shouldn't judge Boeing for deciding to abandon safety and quality in the name
of maximizing profits at all costs? That it was just a "business" decision? It's no big deal right?

Hopefully Microsoft won't end up like Boeing, but you never know with any company.
Ten years ago no one could imagine Boeing's fall from grace would be so spectacular.

Public companies are supposed to be transparent with their decisions. Providing no more than a vague
"we have studied it and decided not to do it" is not a reason. That is not being transparent.
But it seems people are still quick to defend the terrible decisions of legacy companies even on a bitcoin forum.

That is what bitcoin was made for. Bitcoin is a trustless alternative to centralized human decision-making
and human-run institutions, which history shows often ends badly. Those you trust the most often end
up breaking your trust. But with bitcoin you don't have to trust.

 
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Re: 8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 13/07/2025, 07:45:58 UTC
Not a very smart move. Larry Fink does not approve.

MS had tens of billions in cash to invest. Would it have killed them to allocate
just a tiny bit, maybe $10 million or so to bitcoin?
At this point, I believe they just did not want to be associated with bitcoin or crypto and all the ideologies that comes with it. Because with how big their company is, I am sure that they can afford to take a little bit of risks and not to mention that bitcoin has proven itself to be profitable despite being volatile. So that could only be the explanation.

In other words, collective stupidity at its finest.
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Merits 1 from 1 user
Topic OP
8 months ago Microsoft voted against putting bitcoin on their balance sheet.
by
headingnorth
on 13/07/2025, 05:24:17 UTC
⭐ Merited by BitGoba (1)
MS had tens of billions in cash to invest. Would it have killed them to allocate just a tiny bit,
maybe $10 million to bitcoin? Not a very smart move. Larry Fink does not approve.

They will have fun holding on to your rapidly melting ice cubes of cash.
What did MS do with all that cash? They probably put much of it in bonds, even
after Jamie Dimon of JP Morgan and many others predicted a high likelihood of a
crash in the bond market. No country wants to buy that worthless shit anymore.
China and Japan  the biggest holders of US bonds are dumping it like crazy.

So why would any sane person want it? MS shareholders are dumb as shit.



Quote
Here's a closer look at the situation
Shareholder Vote: On December 10, 2024, Microsoft shareholders voted against a proposal
urging the company to add Bitcoin to its balance sheet. The proposal, put forth by the
National Center for Public Policy Research, suggested allocating a small percentage (1-5%)
of the company's assets to Bitcoin as a hedge against inflation and to potentially increase shareholder value.

Board's Recommendation: Microsoft's board of directors recommended that shareholders vote against the proposal.
They argued that the company already has robust processes for evaluating a wide range of investable assets,
including cryptocurrencies like Bitcoin, to fund its operations and ensure liquidity. They also emphasized
that corporate treasuries require stable and predictable investments, and Bitcoin's volatility poses a significant
risk to these applications.


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Re: Bears in disbelief! $1 billion in shorts wiped out as Bitcoin pumps
by
headingnorth
on 12/07/2025, 06:58:40 UTC

They simply borrow money from the exchanges to make those trades, but the trouble is, the market movement is basically random enough that 20%, 10%, 5% price changes in the wrong direction can completely wipe out your position because that's basically the "risk" for the exchange to place such positions on you.

Exchanges are simply giant order books anyway so if there was an exchange that was secretly holding open positions, that would be a scandal since they would basically be trading with itself and creating a fake trading volume.

You can look at the order books to see the trades, but you don't know who is making those trades.
They are anonymous. It could be anyone perhaps even the exchange itself.