Can Bitcoin Break Out Above $20,000?

[TTR]

no, it's impossible

Until 25 of december i had 120BTC on my wallets, but decide to play SHORT against it with 10x leverage, so at 2 of January i had 0 BTC.

Nothing to compare Futures trading with crypto...

Is anybody else play crypto markets?

 

[slotplayer]

There's no guarantee it will be processed in 25 blocks (1 block = about 10 minutes). Just increase the fee in Electrum if it's urgent.

Thanks,

Its been more than a week now, since the 11th. That's way too long right?

 

[TTR]

I don't recommend to use Electrum, better buy Trezor

 

[Strider1973]

Thanks,

Its been more than a week now, since the 11th. That's way too long right?

Yes that's way too long.

First check on a blockchain explorer website if the transaction went through (if yes then you've sent it to a wrong address). And otherwise just increase the fee as mentioned previously. 10 sat/byte should be ok right now.

https://jochen-hoenicke.de/queue/#0,1w

(currently I see for 10+ the value of 1081 transactions waiting. About 2000 tx per block (10 minutes) get processed, that's why I guess that currently 10 sat/byte should be ok right now).

 

[Strider1973]

Until 25 of december i had 120BTC on my wallets, but decide to play SHORT against it with 10x leverage, so at 2 of January i had 0 BTC.

What...? How can you... I feel really sorry... That was (at least for most people) a live-changing amount, why would you gamble with that sum?

 

[slotplayer]

Yes that's way too long.

First check on a blockchain explorer website if the transaction went through (if yes then you've sent it to a wrong address). And otherwise just increase the fee as mentioned previously. 10 sat/byte should be ok right now.

https://jochen-hoenicke.de/queue/#0,1w

(currently I see for 10+ the value of 1081 transactions waiting. About 2000 tx per block (10 minutes) get processed, that's why I guess that currently 10 sat/byte should be ok right now).

Thanks, the address is correct. No transactions on blockchain explorer. So I'll try 10/sat/byte.

 

[TTR]

What...? How can you... I feel really sorry... That was (at least for most people) a live-changing amount, why would you gamble with that sum?

Cuz it was non-live-changing amount for me, but anyway had a lot of stress after that, before i can lose 100-300k in a casino, but this is nothing to compare.
Futures trading (with big leverage) is a super dangerous and super addictive drug, u start a trade and after u can't stop. u sleep 4-5 hours, wakeup to check courses etd. Be aware of any kind of trading with leverage if u like gamble...

 

[Lucy CBC]

I don't recommend to use Electrum, better buy Trezor

Agree, a hardwallet would be better

 

[TTR]

Agree, a hardwallet would be better

Forgot to say, one day i lost 200k (on the moment was 36BTC) because of electrum wallet. I copied 0.036 but they became 36 in adress and i didnt check and send money, Ofc this guy who money i sent - disappear in 15 minutes.

Also hear about cases some pple lost 10kk cuz this wallet, was kind of a virus, wallet wants to make a update and after update all yours money is gone!

 

[Kadabra]

You placed 10x leveraged bet on BTC movement worth $4M? You're crazy
I mean if you made a bet this size for 6 months ahead when BTC dropped to 4.5k in March then somehow i can understand (maybe). But here, it's just flipping a coin (worth 4m).

Not sure if you are serious though.

 

[TTR]

You placed 10x leveraged bet on BTC movement worth $4M? You're crazy
I mean if you made a bet this size for 6 months ahead when BTC dropped to 4.5k in March then somehow i can understand (maybe). But here, it's just flipping a coin (worth 4m).

Not sure if you are serious though.

Here is the beginning, i put 10m in SHORT, sorry video on russian, but you should understand

 

[CL-Ed]

Geez. You're crazy! Or maybe it's a poor attempt at publicly hiding your BTC from the taxman. At least you didn't say "I lost it in a boating accident."

 

[TTR]

Geez. You're crazy! Or maybe it's a poor attempt at publicly hiding your BTC from the taxman. At least you didn't say "I lost it in a boating accident."

I leave in Portugal, here we pay 0% taxes from Bitcoin!

 

[Kadabra]

I leave in Portugal, here we pay 0% taxes from Bitcoin!

seriously? is it due to their 0% taxes for 10 years program or something bitcoin related?

 

[slotplayer]

Yes that's way too long.

First check on a blockchain explorer website if the transaction went through (if yes then you've sent it to a wrong address). And otherwise just increase the fee as mentioned previously. 10 sat/byte should be ok right now.

https://jochen-hoenicke.de/queue/#0,1w

(currently I see for 10+ the value of 1081 transactions waiting. About 2000 tx per block (10 minutes) get processed, that's why I guess that currently 10 sat/byte should be ok right now).

Well this turned out to me being a bone head. I never clicked sign, then broadcast.

 

[TTR]

seriously? is it due to their 0% taxes for 10 years program or something bitcoin related?

No, if u cashout Bitcoin you should't pay nothing

 

[slotplayer]

Speaking of taxes, how accurate is the US Acquisition Price and US Capitan Gains field in these wallets?
Sherlock told me its better to use the Spend From to avoid mixing coins. I assume this is why.

I suppose I could verify it by just Spending From since I know the commission amount and date.
At least I kept decent records. It's not a ton but I have all my coins since the programs first started paying in BTC.

 

[Kadabra]

Speaking of taxes, how accurate is the US Acquisition Price and US Capitan Gains field in these wallets?
Sherlock told me its better to use the Spend From to avoid mixing coins. I assume this is why.

Sherlock does know a lot but he was referring to correct use of bitcoin rather than taxes.
For taxes, it depends more on how your country sees btc.

Here for example btc viewed as investment. so for example when i receive btc i report the USD amount i received.
when i exchange and turn it into fiat - i need to report the value vs the original and if it's higher to pay tax as on stock market earnings.

In that case, exchanging by transaction is easier but what important for that is the transaction amount, not the address. if let's say you got 1btc, 2 btc, and 3 btc. Then you exchange 3 btc and 3 btc. the taxman won't care about the exact address you emptied but the amount vs the received.

 

[slotplayer]

Sherlock does know a lot but he was referring to correct use of bitcoin rather than taxes.
For taxes, it depends more on how your country sees btc.

Here for example btc viewed as investment. so for example when i receive btc i report the USD amount i received.
when i exchange and turn it into fiat - i need to report the value vs the original and if it's higher to pay tax as on stock market earnings.

In that case, exchanging by transaction is easier but what important for that is the transaction amount, not the address. if let's say you got 1btc, 2 btc, and 3 btc. Then you exchange 3 btc and 3 btc. the taxman won't care about the exact address you emptied but the amount vs the received.

Crypto is seen as an investment here as well, like stocks. What I was getting at was some times the amount of the commission as listed in the affiliate programs will not match the actual crypto fiat value received because of the volatility. I've done day trading and the tax gains were easy because I know what the paid for and sold for prices were, those values are fixed.

When you say original are you using the fiat value the commission paid you or the market value of the coins at the time they were received in your wallet?

 

[Kadabra]

When you say original are you using the fiat value the commission paid you or the market value of the coins at the time they were received in your wallet?

The market value I received. You can check the value of transaction at the time.

I think that's the correct way as if eventually someone would like to check that, he will get all that info from my wallet and it will match to the dollar. Otherwise in situation where for example you earned (and reported) $1k and received $1.2K - they might question the difference as why you haven't reported it correctly.