KIKES AND BOOMERS ARE COMING FOR YOUR CRYPTOGAINS

Don't listen to this nigger. Two XMR transactions will make your coins virtually untraceable unless you have them on an exchange still or are using the monerowallet hosted online. The only thing you have to worry about is another BTC breakout if you do decide to hide from these bullshit regulations. But, given that more of the original, libertarian investors are now trying to hide their funds using XMR and other user coins like PIVX or ZEC, the prices of user coins will breakout soon as well. Technically the tax law hasn't gone into effect so you can transfer some of your BTC to an user coin like XMR legally but do it ASAP.

not only saved, but rotated it you mongrel

No you didnt lol

Redditors BTFO!!! XDD
But in all seriousness, fuck these cuckservatives

Retard, it's already not tax free. The IRS classified cryptocoins as commodities years ago. As such it means you already owe taxes for the USD equivalent every time you sell them - that amounts to 60% of gains as long term capital gains and 40% of gains of gains as short term capital gains.
The obvious aside, name the fucking bill because I want to read it.

Monero isn't remotely untraceable, the entire concept relies upon middlemen who have access to the transactions, almost certainly running on hardware with Intel ME active. If it gets popular enough it will be traced and to say otherwise is disingenuous or ignorant. The closest thing to untraceable is a voucher system akin to eprint.iacr.org/2016/056.pdf but even that has similar drawbacks. You can't make an untraceable cryptocurrency with any known techniques without making it susceptible to double spending.

lol coinlets btfo

MUCH CRYPTOKIKE, VERY SCARES
The nerve of these niggers to attempt taxing math, it's absurd.
Two brain cells rubbing together would realize people will make coins in their bathtubs, ignoring the bureaucratic decree.

Suck some more FED dick

sage

Welcome to adulthood where people pay capital gains taxes.

lmfao go back to reddit kiddo

Kek I remember seeing that when you first posted it and realizing it was a picture of the computer screen.

What a motley crew.
Four jews, a roastie, another semite, and a good goy.
"true cryptocurrencies like bitcoin and ether" The gaslighting never ends!

it's rotated to us, mobilescum

if i trade my neighbor a cow for 12 goats - can the gov tax that?

They can't tax you for it if they don't know you own it.

Well, I'm not Steptoe & Johnson LLP, but it sure sounds like they will after the tax bill passes.

Yes
irs.gov/newsroom/bartering-produces-taxYesable-income-and-reporting-requirements

Cheers to that

oop try this link instead

irs.gov/newsroom/bartering-produces-taxable-income-and-reporting-requirements

I'd like to point out that BTC was destined to be short-lived anyway, it's unregulated. Market manipulation like tape painting, wash trading, spoofing etc. is standard fare with BTC. Throughout history, when too many people lose money in markets because of shenanigans, regulators will step in and put a leash on it or outright ban it. The latest example being CFD's in the US and IB agreements in Singapore getting banned. Even when there's no shenanigans going on, regulators will still put bounds on it when too many people lose money (like the PDTR for margin accounts).

With boomers and other assorted normalfaggotry now joining in you can bet the above will come sooner than later.

>irs.gov/newsroom/bartering-produces-taxable-income-and-reporting-requirements

how about a cow for 12 goats in a different country

no taxation without representation, and all that.

One other point I've never heard made:

it's the easiest thing in the world to say you lost your private key and then claim a loss on your taxes.

The people who write these laws are used to thinking in banking terms; they have no idea how expensive it will be to try to enforce rules like this.

THIS IS WHAT STATISTS ACTUALLY BELIEVE

but I can see you're just making a historical observation which is fair

they'll probably do that around the same time they stop filesharing.

Without regulation you end up with shit shows like the GFC of '07/'08. Remember that you're dealing with kikes.

It will still hurt BTC even if they don't succeed completely.

Without regulation that crash would have only affected the kikes if it happened at all

reminder that cryptos aren't tax liable in Japan.

So pretty much retards from reddit taking out loans to buy bitcoins at 19k ruined it.

No, kikes weren't the only ones invested. You're referring to the bailouts now.

Buy high/sell low retards have prompted governments to ruin everything for as long as both have existed.

Right, and why was anyone else invested? Why is everyone else's money corralled into the stock market? Regulations. I don't want to put my retirement money in the stock market, but here we all are, waiting to lose it all the moment the plug is pulled again.
Why did banks have to make home loans to niggers whom they had been turning down and banks knew damn well they couldn't afford it? Regulations.
Had we let the market decide, banks would have continued to deny those clients.

Yeah, boomers have a lot of power in this country. Let's take away their social security and increase aid to Israel. That'll show em.

That happened exactly because it wasn't regulated. Regulators are passive and reactive; they always act after the fact, at the time derivates went full retard there was no regulation around to prevent it. Nigger mortgages wasn't even the craziest that was going on, think double and triple mortgages for 1 house or sometimes no house at all. It was an all-you-can-kike shitfest with no brakes. All that kikes had to do was get out before the music stops, and they hear it stop way ahead of you and everyone else. Hence regulation is a necessity.

No, the banks had been turning down those mortgage applications until they were compelled to take them.
And only the people who played with the poisoned toys would have been hurt if we weren't all forced to touch the poisoned toys.

Government is not your friend. Whoever can control government will use it to help themselves and their friends and punish their enemies. Regulations are how that is done.

How can you be here and be this ignorant? They were literally incentivized by the Clinton/Gore administration to make the subprime loans.
What happens if you say "you can issue these loans which you know are bad, get paid the interest, and we'll reimburse you when they go belly up," and then know they have to compete against other banks with the same option?
That's not a failure of the banks, their choice was: make subprime loans and survive or don't make subprime loans and get crushed by their shadier competitors willing to make the subprime loans.
It might not seem like having a gun to their heads saying "do this," but that's because you're an idiotic pleb. Businesses must operate within the bounds of the overarching regulations and government incentives, they don't have the option of saying "no" to an incentive which allows their competitors to quadruple their earnings, the officers would just get fired by the board of directors for failing the company, what they themselves know as right and wrong don't play into it because "right" is defined as "what works," not "what is ideal" or "what is good for everyone."

How can I legally evade this?

true. They might even kill it entirely the way they killed napster.

Have you already forgotten what happened to house prices? Just to name one.

You're the pleb here because regulators are passive and reactive. There was no regulation on subprimes. They even stamped triple A on complete garbage. Being incentivized by poor administrative decisions =/= regulation. A good example of regulation would be an authority on financial markets keeping an eye out for dangerous developments and stepping in to put an end to it (though mostly after the fact), like i already mentioned with CFD's and IB agreements. That's regulation. Market manipulation made illegal; that's regulation. Putting an end to profiteering in insurance policies; that's regulation. It's exactly because regulators are passive and reactive, acting after the fact (read: LACK OF REGULATION DURING) that the shit show is allowed to happen.

Go stand in a corner and be ashamed you self-overestimating moron.

forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html#50401587364b

It wasn't just low lending standards as i already posted ITT, you strawmanning fool.

Also, poor regulation or zero regulation (historically nearly always the result of people at the buttons who don't have a working understanding of what they're supposed to be regulating or just can't keep up with developments) =/= a case against regulation.

i just dont pay taxes because i dont give a fuck and will rise the fire if they do something about it

what about all the miners? are you telling me if you mine this shit your going to have to a 40% capital gains tax on it, when you never really traded it at all, you just sold it, on the only place you can sell it, an exchange. If I opened up a dirt farm and mined dirt and sold it at a dirt exchange i don't think i would have to pay capital gains tax.

Too late, hombre. The ATF's on your lawn. Pay up for the dirt tax.

Then this is more important than ever:
pivx.org/

HAIL VICTORY

Fuck it, if this goes through, it's DOTR for the fucking (((BAR)))!!!

Also time to move to a non-US exchange.

Any advice in this regard? I'm getting more invested in crypto by the day.

The IRS is going to be very curious about where you got the money for that new car.

Want to know how I know you won't make it?

Binance seems to be doing OK.
Bitfinex might implode any moment, avoid that one.
Decentralized exchanges like Etherdelta, BitShares and Waves have lower volume and confusing interfaces, but should be more censorship resistant.

Just like bittorrent, right?
Don't talk shit about boomers when your own brain is running on assumptions that have been outdated for 20 years.

A rare succinct and smart summary of the situation. Props to you user, because god damn the Internet loves to be pretentiously wrong about this.

"Harder to trace than most tax evasion schemes" is good enough in most cases.

My private keys are hidden, my mind is blank.
Take me away, fuckers

I miss you groyp. Checked.

Use reliable foreign friends for transactions. Problem solved

Thanks user, I will look into those in the morning. Also, what is the best way at the moment, to convert XMR into fiat? I've been getting paid in XMR recently and still need fiat for paying bills sometimes.

That's one more reason to get an older car made of steel, without a computer. Get it cheap and pay for good parts secondhand or even a parts car, and make it beautiful. If can't into mechanics, hire a poor white who is unlicensed to do the work, and help someone who needs the money, by paying them under the table to do real work.

no it isnt you stupid ass nigger.

...

The government functions as a single entity in practice, you pleb. What it incentivizes is a form of regulation.

That's called a sand/gravel pit, and it gets taxed.

You don't belong here.
You know we want the Fed destroyed, right?

Housing prices was one of the late effects down the chain which would not have happened had government not been interfering.
How you can argue that having a mommy regulator to tell the market which investments are good and bad with seals of approval and correctly analyze and predict threats to the market is beyond me.
holy mother of statism
OBAMA SUPPORTERS ARE NOT ALLOWED HERE

It's amazing how they are still so full of themselves even after having their assholes ravaged by Trump, thinking they will "drag the ignorant masses kicking and screaming if they have to" toward their faggot utopia of self-imposed slavery.

They tax only big sums.

I've been visiting 4/biz/ the past year and noticed an uptick in Holla Forumsacks in the past month. A lot of JQ and redpills being dropped now as ripple is making headlines and enter the normiespace

I think Holla Forums ought to advocate for crypto and get the kikes out of it.

Many of them still believe that Trump will be impeached any day now and then everything will go back to normal.

Lol so they just make a new coin that costs nothing to trade. They cant regulate this shit away.

Self detrimental move for the US to regulate something the rest of the world is exploiting to their benefit. The should do what they already have which is buy the stuff and hold it. The FBI etc have massive amounts of bitcoin.

hahahahahaha

wanna tax me, come and get it

I can't really see the idea of a zero-trade-cost cryptocurrency working. The network must have some way of defending itself against traffic attacks. If trades cost nothing, then an attacker could manipulate the effectiveness of the network and therefore the price of the currency by spamming trades.

i felt like the whole point of btc was the more they try to hurt it the stronger it would grow

this guy gets it
I refuse to fund my enslavers
btc is now a tax revolt
normies get out

Jury Nullification. If hes white.. you know what to do.

either bitcoin is what the cryptofreeks said it was or it isnt end of story

People already do that now, it wouldnt be a big difference. Assholes put their hands on the buys and the sells etc. and dont let it move except in the gap between them.

There could be other measures if you just meant a volume like ddos attack or something through trades too. Especially if you lock their trades on the market and make them eat losses or something.
Must have X amount of money on the exchange, abusive traders forfeit their trading account. Win win.

what this guy said

But how do you 'lock an attacker's trades'?
Or if you have to have x amount to trade, this hurts smaller traders. It would just become a new floor.
This is outside the scope of the thread now.

Funny, every time I buy or sell another nation's currencies I get charged fees. I get charged feed for fucking travelers checks. Imagine that. Everyone wants a piece of the pie when they have their fingers in it.

That's why I didn't buy it new. I bought it on craigslist and when I reported the purchase I put the price down as $1.

Yes, because reporting something as $1 when it likely has a minimum scrap value above $200 regardless of make, model, and fucking condition, is not suspicious at all.

Your move, government.

There is no obligation to answer that question under US law. Further, they need to define that question again before they can claim any authority.

When I was into crypto back in 2013-2014, I seem to remember someone was working on some sort of distributed exchange.
Whatever happened to that? If it was run through i2p, it would be great.

Trying to outsmart the IRS is a dangerous game. Just realize that. BTC and other cryptos are hard to trace, but when you cash out it becomes trivially easy to figure out what's going on. Don't get carried away.

IMO for your financial well being it's probably best to diversify if you have significant holdings in BTC or for that matter any one asset in general. Cryptos may very well be the panacea the internet makes them out to be, but the laws of gravity still apply if you catch my drift, and if the government wants to crack down on them hard enough they'll find a way.

Don't put your legal well being on the line to gamble with play money.

What this user said, don't play games with the IRS for what amounts to peanuts. They're pretty lenient if you legitimately screw up somewhere, but if they feel threatened they won't stop anywhere short of prescribed anal rape.

That's why we need to make 'cashing out' unnecessary.
I am a fan of XMR, so I will use it as an example, but start renting out apartments for XMR, selling food for XMR, and used cars/electronics, and you start changing things.
Just report each transaction properly and pay the taxes and they shouldn't be able to whine any more than they do about cash.

tbh in the context of Bitcoin treating it as a commodity makes a lot of sense, not so much for Etherium and non-ponzi-scheme-coins. Bitcoin only has so much which can be mined, after which point it becomes a diminishing commodity (people lose wallets, send to bad addresses, etc and the coins just disappear, so out of the 21m Bitcoins to exist over the entire lifetime of the cryptocurrency there will actually be less and less of it over time following a runaway deflationary trend.) Etherium on the other hand has inflation built in, as do many other cryptocurrencies, so it makes more sense to treat it as an actual currency in terms of taxation - it's not a fixed commodity and the rate of lost coins is built into the inflation rate to ensure long term stability. As it stands, Bitcoin is destined to be a trading card type of thing, collected by people interested in saying they hold some number of Bitcoins when it has lost all usefulness, it was never actually intended as more than a proof of concept.

I forgot, this would require the government accepting XMR, so you'd have to shill for government to accept it for tax.

Yay, no more tax dodging! If only the government weren't full of shitheads that would give it too fucking kikes.

But there are reasons to get rid of Bitcoin altogether, such as the power consumption cost of using it. Not good, that's essentially like having really expensive paper money manufacturing..

yeah, that sure would be shit

Over 1 and a half gigawatthours of continuous electric consumption to achieve worthless hashing operations isn't a good thing for Humanity. It may work, but it's a shit solution.

(scuse my pleb knowledge if this is incorrect)
I heard that there's an issue with the blockchain protocol that makes it require logging with all bitcoin users for a single transaction. That's a lot of power if it transactions are happening frequently with a massive population of users. That's a fundamental flaw to the use of it. It certainly ruins the economic use of not having a tangible medium of exchange. It means that the cost of allowing transactions would create an economic "leech" on the entire pool of bitcoins.

It's better than people absolutely decimating natural landscapes/ecosystems in order to farm for gold

It's terrible

Is it?
That's a lot of coal.

But if power was purely renewable sources, we would have no issue here.
Oh wait, that's lefty insanity! My mistake! :^)

Wait.. does that mean the petrol companies and coal companies might be potential lobbies against this inadvertently?

Good. Currency speculiation is a thoroughly jewish activity and anything put towards its limit is a good thing.

Do you really want me to try and do the math to figure out which is currently worse for the environment?

Speculation may help with pricing though. It gives an idea of it's perceived value.
It's just flawed with the bull runs, etc.

Yes. Do it.

Because neither are beneficially and one could be dealt with by killing two birds with one stone (secure electrical supply and environmental impacts of production)

To add, this could flip all of our ideas on extreme environmentalism, now there's a potential profit need of it by enabling bitcoin to be less costly.

Gold is a resource with applicable uses outside of finance, mostly in high technology applications. It takes a very small amount for things like computer chips but you also have things like platinum, silver, and palladium which are used in many more cases and also happen to come from the same gold mining operations. It's only even rarely used because we have to make due with alternatives, if we could use it for wires we'd see about a 30% boost in available electricity from the same plants compared to copper. When you get into the healthcare applications gold and silver are fucking wonder elements, and they'll have extensive use in the future. None of that would have been possible without the centuries of gold mining activities because it's so rare, and nobody would bother to save it if it were worth shit.
All that aside, there's the completely separate issue that Bitcoin mining is fucking wasteful as fuck - equivalent to over 3 full nuclear power plants or over 275 full coal power plants worth of electricity just to handle mining operations. In return we get a bunch of worthless hashes and a shit protocol which frankly doesn't need it (you can just as easily build a cryptocurrency which requires nothing more than the power to process transactions, no idiotic hashes.)
To top THAT off, Bitcoin mining is susceptible to ASIC mining farms, meaning the entire security of the protocol is compromised as mining operations get heavily centralized by dedicated mining operations.
Bitcoin was a great idea, a great proof of concept, but it's about a decade old and in the computing industry that's the equivalent of a wood building made 5,000 years ago.

user, we're talking incredibly small amounts of gold. ~$40 worth in modern desktops, and that's always been inflated by the theoretical 'currency' value of gold, not the actual tangible uses it currently has. If you can show me that its value as a 'wonder material' has ever outpaced its value as a trading rock, I'll change my tune, but I don't think you can.

it's how kikes make their shekels, user. Just look at Soros

...

Look into advances in biotech, specifically interfaces of biology and technology. Very few things can survive inside the Human body unscathed by immune and other chemical processes. Gold is one of those things, and it doesn't it pretty much passively. Silver is kind of OK in some cases, but it has the issue of killing of microbes (you're over 80% microbes, killing your microbiome is bad,) copper has a similar issue as silver and it corrodes easily so it's worse, titanium and tungsten stimulate bone growth, so unless you're planning to embed a device into bone it's a very bad idea to even coat them with it. Gold on the other hand has the ability to not only resist being broken down, but not even trigger immune responses - so you can make devices of any complexity and simply wrap them in gold to make them biocompatible (assuming you don't do something stupid like stick an exploding Apple battery in them.)
If you took all the gold ever mined and divided it by the ~7 billion people on Earth you'd have 24.2347923 grams of gold per person. That's for all their computer chip, which isn't bad. Add in biocompatible devices and it's not even enough for everyone once you get beyond about another 20 years of technological development, and we won't have a good alternative yet.

Why do White Nationalists want to kill White people who wish to meet up without them?
8ch.net/polmeta/res/28806.html

Why would Holla Forums ban a White meet up?

Why are Whites the only ethnic group that do not meet up and network?

Jewish networking
archive.is/cdyCI

Black networking
archive.is/H6Q6e

Hispanic Networking
archive.is/SeJ8O

Asian Networking
archive.is/GTWOO

Indian Networking
archive.is/FfPFp

Muslim Networking
archive.is/rPIj1

vs.

White Networking
archive.is/LEhxc

STOP POL CENSORSHIP
Remove the Holla Forums mod
Censorship on/pol/ is worse than any of the social media sites.
FIX POL
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nmhkj

Why are you including non-whites in your calculations, user? Let them all die from their own inability to form any pretense of a civilization. Anyway, I agree that it has uses, but as far as I know, the 'value' of its uses have never once outpaced the perceived value as a currency. 99% of the time, if it's a choice between being a useless rock or a life-saving device, it will have more value remaining as a rock.

You've missed the point. Unlike gold, bitcoin has no utility at all. With how fees and wait times are increasing, not even as currency. It's the difference between something and nothing.
Nothing in this planet, from apples to oil, has outpaced its value as an exchangeable object; its usability increases its value and people speculate on everything. Your challenge is nonsense, and you are retarded.

Your transactions are cemented into a public ledger. Why do you think it is completely anonymous?

Do you really think the devices won't be shipped overseas by (((philanthropists)))? They siphon off every other resource we have, why would they stop just because they find another one which we need to live, especially one they can deem a luxury item for us and life-saving for the third world?

Alright, alright, I'll agree that gold has more utility than bitcoin, making it inherently better in that way. But I'm still not convinced that tearing up ecosystems to extract gold is even on the same level as tearing up ecosystems extracting the coal needed to 'mine' bitcoins.

...

us taxes its citizens worldwide. source of income does not matter. soldiers in the military are the exemption. as far as the IRS is concerned taxes are owed on the goats vs chickens traded and if they find out & the amount involved is worth their attention, they will take your money when it hits a bank account.

My biggest issue with Bitcoin isn't even that it consumes so much power - the computers running it exist and would exist mostly regardless (minus the idiotic ASIC devices.) The issue I have is that it does nothing useful for the mining work when there are so many better things it could do.

lol, nope. It's just the standard deduction tends to result in a rebate check each year for most (unless they are running a side business.)
Source: was soldier, still got taxed even while deployed.

Where you getting hazardous duty pay? The exemption only applied to hostile fire combat zones. Either that part of the tax code was changed since my deployment or the place you where sent wasn't dangerous enough to qualify for the tax exemption. (or payroll fucked up, which happens a ton in the military.)

Probably a payroll fuckup, definitely had hazardous duty pay.

Fuck you. Your ID is triggering me so hard.
d b b d 0 b

because they invented it and satoshi nakamoto is a cianigger

No doublenigger. That was the NSA

you can always accept xmr in payment and pay the tax in cash.

nigger

kek

You're both wrong:
SAmsung
TOSHIba
NAKAmichi
MOTOrola
It was invented in the future by those 4 companies to fund their time traveling agents in our present.

not really, XVG is entering a bubble because people are jumping ship.

Damnit. Now my post is sperging me out.

The problem we're about to face has happened before. We're looking at a Whisky Rebellion scenario again. Unless we can use crypto to pay taxes, were caught in a situation where paying the tax is difficult to impossible at times.

If you pay taxes on your crypto gains, you're a pussy ass, bitch, retard who should have never been in it, in the first place.

You do realize that if the state accepts a tax payment in crypto, even once, that it would officially legitimise the currency used and crypto in general, causing the values to skyrocket far above and beyond the cost in tax, yes?

PIVX (look it up) is the best hope. I recommend it because I think it is the best hope for Holla Forums and /liberty/ to enrich themselves and gain some power back from the satanic kikes.

Ripple is literally Evilcoin from Mr. Robot and the Phoenix coin of the Rothschild Economist. Kill it with a fire. On another note, we need to reclaim the Phoenix from the Redsheilds. The phoenix reflects the Aryan spirit of rising from the ashes to fight again and again.

They didn't ask for the value. They asked for the price. The guy wanted a dollar and I gave him a dollar. Not my fault I was in the right place at the right time.

If you don't believe me, check my bank statement. I wrote him a check.

The real problem is the middlemen and not the crypto itself. There are no names attached to digital wallets and there is not stopping anyone from owning multiple wallets anonymously (So you will never know how much someone truly owns).

The government is going after exchanges where a majority of the trading happens (Coinbase, Poloniex, Bitfinix etc) for user information. These exchanges are now forced to ask their customers for identifying information or else the government will shut them down.

Name and address is mandatory.
These exchanges know your identity and all records of exchange. Plus if it's over a certain amount we are going to need your SSN and a photocopy of your driver's liscence before funds are released.

The reporting is coming from the exchanges. Coinbase is a great example, the IRS now is forcing them to give them a list of all people in 2017 who have traded more than $20k of crypto. The IRS originally wanted the list of all people on Coinbase.

The tax issue only manifests when it's time to exchange the crypto for fiat or a product/service.

It still raises suspicion and if they really were after you, they could get you on gift tax if nothing else. The $1 check would be seen as just a proof of transaction on your part, and assumed the vehicle was a gift, but it would need to be valued at above $500 at time of sale to matter.

How?
FFS how could anyone fall for using coinbase?
Damn right. I have a habit of making new wallets for each fucking payment I get, if it's large enough for me to use.

Millennials are either going to end up as an example of a worst and mistake generation like Boomers for future generations like Z and Alpha or cycle to hero. I'm interested to see where it all goes.

Millennials are going to burn everything down once they get power; a generation of highly educated zealous bastards is bad news if history is anything to go by. They want justice, blood, revenge and tendies.

It's more that Holla Forumsacks got interested in crypto and thus naturally gravitated there more than anything else. The general rule is if you want something depozzed, get Holla Forums interested in it and it'll just happen.

If that's the price of wrecking the kikes system then that is a minuscule price to pay. I was expecting we'd be paying in blood.

if paying the tax is impossible, then you don't have to pay it. What are they going to do? Confiscate dollars you don't have?

he said pay taxes on not in.

I mean why should cypto investors be safe from paying tax when everyone is paying them???

Kick your door in, take all your shit and auction it off. They'll worry about the legal part after the fact.

Except it's not wrecking anything.

...

You are either retarded, or a shill, or both. The most profitable investment a plutocrat can make is to change regulations in his favor. For a couple grand in campaign contributions, they can skew the market and make billions. This is what the banks did in 2008, but it's been going on every year for the past century or more.

Regulations are not your friend, and they never will be unless you're either a billionaire or you live in an independent ethnostate smaller than Switzerland.

That's not a "flaw", that's the damned point. Multiple confirmation of transactions is how you prevent fake transactions when running a distributed ledger - otherwise anyone could just write whatever they wanted into the ledger without being challenged.

Millions of "honest" computers on the network confirming transactions themselves prevents this from happening, and they are initially rewarded with bitcoins for being a part of the confirmation process. This grows the network out so transactions become more secure over time. Once the rewards are gone, the currently participating machines can switch to small transaction fees for confirmations instead.

The network is supposed to throttle and make the crypto problems more difficult as more machines pile on so that the amount of coins mined is deterministic and the last coin will be mined on a certain date regardless of how many people are mining.

And no, not all bitcoin users have to confirm every part of the blockchain - only the parts that are currently unsolved - and you don't even need to participate in mining at any rate. For old transactions all that needs to be checked is the proof of work - that's easy to do. In essence it's the difference in difficulty between guessing someone's password and confirming a password someone gave you actually works - orders of magnitude difference in speed and processing requirements.

A vile move, especially from Republicans.

...

that's not how they do it. They want cash cars and real estate, not household junk. Don't believe me? Try to find a single case of that ever happening.

RIP affordable GPUs forever

your vid got cut off…it's missing the best part!

Why should we not send obvious redditors to the gas chamber???

bisq.network/

I have a pair of R9 390s. Is that still adequate for mining?

Has anybody been making gains on Ethereum? It seems to be rising quite often.

The NXT/Ardor/Ignis family have exchange on the chain famalam.

HA HA ha

Completely 2nd & 3rd hand information but take it for what it's worth. A friend tests super computers' power. They use Ethereum mining for prolonged, stress testing.