https://somuchinfo.com/2020/05/12/third-halving-turns-out-to-be-non-event-for-bitcoins-price/
Monday, November 23, 2020
WARNING: TAXATION 2020: Incoming Bull Market STICKY has wrong information
The poster from an accounting firm makes several claims and presents them as FACT. The fact that he is a Chartered Accountant (allegedly) lends him credibility, however there are several points in his writeup that are not telling the whole side of the story. Their post is here
I replied late to the party, and missed all the activity - never the less I think it's important my voice gets heard for you to balance out your own choices at tax time.
The fact is this Metrics CA firm hasn't challenged or tested any of their assumptions about STAKING, and Business versus Hobby income. I don't think there is adaquate case presidence to validate their claims. Here is my reply to their post.
ARGUABLY some of his information is plain WRONG! I will identify my reasons. Some of my examples are from the IRS and I state that upfront but generally CRA has not issued guidance, so looking at other countries that have issued guidance is a good starting point.
Okay where to begin. /u/MetricsCPA/ states:
DECENTRALIZED TRADING
This is what I would refer to as exchanges like Kyber, MKR, and Uniswap. These do not have a centralized order book and record of transactions - Ie, you will not be able to get a list of your trades 8 months after you do it for tax purposes.
WRONG - literally by definition a decentralized trade is stamped into an immutable blockchain that can be looked up indefinitly in the future, anytime you want. You can use this tool here to look up most DEXs for all time.
Next:
STAKING
/u/MetricsCPA/ states that this is mostly INTEREST, and make a comparison to a bank paying you interest.
WRONG!
Staking of cryptocurrency
The Canadian Revenue Agency has not released specific guidance for staking of cryptocurrency. Because staking is similar in nature to mining of cryptocurrencies, the safest approach is to treat received coins from staking in a similar fashion to mining.
If your mining is just a personal hobby, you will only pay capital gains tax when you later sell (dispose of) the received coins. Because you didn’t pay anything for the coins originally, the cost basis should be considered as zero so that your capital gains are equal to the market value (in CAD) at the time when you sell the coins in the future.
The CRA says that it will be decided case by case if your activity is classified as a business or just a hobby.
SOURCE: https://coinpanda.io/crypto-taxes-canada-cra/
CRYPTO isn't money! It isn't a Security (although it can be), it isn't a currency. CRA hasn't provided clear direction.
CRA has issued direction here: The CRA generally treats cryptocurrency like a commodity for purposes of the Income Tax Act. ... Not all taxpayers who buy and sell cryptocurrency are carrying on business activity.
/u/MetricsCPA/ points out that most mining activity is treated as business income.. However says himself that they have never challenged the findings or lost a case by claiming otherwise!! If a CA firm always picks a path that is worst for their client, of course CRA won't say no.
If you are a 'hobbyist' your staking rewards can and should be recorded as a $0 ACB and when you sell later, you pay the full capital gain. By automatically saying any rewards are INCOME you are screwing your clients. I mean it's not right that they are getting rewards for sustaining a system (Commodities).. A better comparison othan your bank example would be a Fruit Farm that bears fruit. Should you be taxed on the apples that are made? Well I guess, YES if you are a business. This is not even getting into the philisophical discussion that rewards from staking dilute the coin supply and technically should devalue the market cap and price of a certain coin that you are already holding!
Liquidity Provision
WRONG AGAIN!
One view is that you technically have never disposed of your coins into the liquidity pool - you have wrapped them in a smart contract! This is not a disposision and doesn't trigger a tax event. See here
OTHER USEFULL REFERENCES
https://tokentax.co/guides/defi-crypto-tax/
https://barretttaxlaw.com/tax-treatment-of-cryptocurrency-theft-and-loss/
[Daily Discussion] Tuesday, November 24, 2020
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
Other ways to interact:
- Get an invite to live chat on our Slack group
- Set your flair to trade pretend money in the Flair Game
- Weekly threads: Newbie Mondays and Fundamentals Fridays
- Altcoins Discussion: Altcoin Discussion
[Altcoin Discussion] Tuesday, November 24, 2020
Thread topics include, but are not limited to:
- Discussion related to recent events
- Technical analysis, trading ideas & strategies
- General questions about altcoins
Thread guidelines:
- Be excellent to each other.
- All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
- This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
- No discussion about specific ICOs. Established coins only.
If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.
Other ways to interact:
- Get an invite to live chat on our Slack group and check out the #altcoins channel
- Daily Discussion for bitcoin only: Daily Discussion
- Prior Altcoin Discussion: Altcoin Discussion
A SHA256 Miner is Refuting IFP & Clowning the Entire ABC Project, Rendering the Chain Useless
As many here have noticed, an unknown miner is creating a huge amount of empty blocks on the Bitcoin Cash ABC chain and filling the mempool with spam transactions. This is effectively making it impossible for anyone except rival BCHABC miners to create transactions on the ABC Network, of which there aren't many. This likely severely erodes confidence in the BCHABC chain, and frustrates those who wish to dump their ABC coins ask quickly as possible. Apparently there are coinbase messages in some recent ABC blocks indicating that a large dump of ABC coins will occur on Nov 25.
This is a rather unprecedented event for coins forked from major cryptos. Right now it appears that this is a sort of "Wild West Showdown" in which another miner(s) MUST obtain superior hashpower to avoid BCHABC becoming completely worthless and useless. As miners other than the attacker fall away from BCHABC mining, the difficulty keeps dropping and the attacker gets a greater and greater share of the hashpower. Even now, this miner could 51% attack BCHABC, nullifying transactions, or they could reorg the ABC chain at their leisure.
Since ABC coins are borderline impossible to move right now, even Amaury can't move his extorted 8% coinbase rewards unless he can finance a miner to create a block including them! If it costs more money to convince a miner to create that block than the ABC coins are worth, the project is effectively in a zombie state.
It seems that someone is sending a very strong message of support for BCH Node and the BCH cryptocurrency. It's called Putting Your Money Where Your Mouth Is.
[WTS] The I need fiat right now sale lol - For Bills and New Equipment
I need fiat right now - I'm open to reasonable above spot offers.
Verification - Verification - Verification - Verification
Lot of (2) 10 oz Bars for $500 shipped or $255 each shipped
(23) 2020 Kangaroo - $605 shipped for all (23)
2020 Germania with COA $42 plus ship
$4.40FV in War Nickels - $100 plus ship
Lot of (18) Generic Rounds - $455 shipped
Lot of $10FV 64 Kennedy Halves - $170 Shipped
Lot of $10FV 64 Kennedy Halves - $170 Shipped
Lot of $10FV 64 Kennedy Halves - $170 Shipped
Lot of $10FV Franklin Halves - $175 Shipped
(7) 1 oz Generic Bars - $25 each
(1) 2017 Maple - $26 each
(1) 1/2 oz Year of the Monkey - $15 each
(1) 1/2 oz Year of the Rooster - $15 each
(20) 1/2 oz Year of the Goat - $15 each or $280 for the roll plus ship
(1) Milk Spotted 2020 Kangaroo - $24
(1) Lot of 10 assorted 1 gram bars - $12
(1) 10 oz Scottsdale Stacker - $280 each
(1) Lot of 3 ASE (colorized, toned, or otherwise not BU) - $80 shipped
(1) 2 oz Scottsdale Stacker - $60 each
BASE CURRENCY
$40FV NIFC 1987, 2002+ Kennedy Half Dollars - These were found CRH so the condition varies. I'm really not sure what these go for other that being sold individually on ebay for $1.50 each if you're lucky. Anyway, unless someone comes along advising me otherwise I figure I'll ask $70 shipped for the lot?
Details:
I'm listing as lots but I'm willing to split up reasonably. Combining lots that are labeled with prices shipped will result in some degree of discount (depending on weight of lot and originally anticipated shipping costs)
Shipments will be USPS first class for $4.50-$6.50, for 1 to roughly 8 ounces, or priority for $8, for over 8 ounces.
Payment by PPFF, Zelle, Bitcoin, and ETH
Prices are subject to change at any time due to market fluctuations and in the event of a listing error or update.
for everyone saying paypal is the only way to get (insert relative) to buy bitcoin..
so mom buys bitcoin on pp. the price goes up. way up. mom gets more interested, starts doing her own research. decides she wants to actually own her bitcoin, buys a hardware wallet.
now she’s gotta sell, wire that money to a real exchange, buy an actual bitcoin.. and she’s triggered a taxable event and owes the gov’t a fat sum despite still hodling!
if i was your mom.. id be pissed. friends dont let friends buy pp coin. they teach them about cashapp or any other easy to use service that lets you withdraw, and when they are ready, they teach them about not your keys, not your coins.
we all want adoption but its not worth letting people be scammed.
[SELL-XBL] Selling FIFA 21 XB1 Coins! $9 per 100k. Safe Delivery Without any bans/resets! Trusted Trader with Fast Delivery! Tax Covered!
I've delivered over 40 billion coins in FIFA 20 orders without a reset, wipe or ban.
I'm delivering over 15 million coins daily in FIFA21 without any issues. I know the exact triggers as they are currently. In the event I get a single reset / wipe, I shut down my operation and use my accounts to find the new limits before delivering to customers again.
I can move coins very fast to your account for you to be able to get playing again as soon as possible!
Why buy from me?
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Great care taken for the safety of your account. No need to spend the coins fast.
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Professional Seller.
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Reliable. Check my feedback below.
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Experienced Seller - Since FIFA11.
My FUT Rep (feedback) profiles can be found here:
https://www.reddit.com/r/FUTRep/comments/60onx9/usam2748_fut_rep_profile/ https://www.reddit.com/r/FUTRep/comments/79ofoa/usam2748_fut_rep_profile_2/ https://www.reddit.com/r/FUTRep/comments/aumeze/usam2748_fut_rep_profile_3/ https://www.reddit.com/r/FUTRep/comments/d8ax3c/usam2748_fut_rep_profile_4/ https://www.reddit.com/r/FUTRep/comments/fn2442/usam2748_fut_rep_profile_5/ https://www.reddit.com/r/FUTRep/comments/jmqitp/usam2748_fut_rep_profile_6/
My current prices are per 100k:
XB1 - $9 (€8)
PS4 - $9 (€8)
Delivery Methods:
Comfort Trade - You give me your account login and I will put the coins safely into your account. This is 100% tax covered.
I accept the following Payment methods:
Paypal
Skrill
BitCoins
United Kingdom Bank Transfer
Note
Please note although prices advertised here are in USD, I actually charge in either GBP or EUR. The conversion rates will vary due to the payment processor.
[SELL-PSN] Selling FIFA 21 PS4 Coins! $9 per 100k. Safe Delivery Without Any bans/resets! Trusted Trader with Fast Delivery! Tax Covered!
I've delivered over 40 billion coins in FIFA 20 orders without a reset, wipe or ban.
I'm delivering over 15 million coins daily in FIFA21 without any issues. I know the exact triggers as they are currently. In the event I get a single reset / wipe, I shut down my operation and use my accounts to find the new limits before delivering to customers again.
I can move coins very fast to your account for you to be able to get playing again as soon as possible!
Why buy from me?
-
Great care taken for the safety of your account. No need to spend the coins fast.
-
Professional Seller.
-
Reliable. Check my feedback below.
-
Experienced Seller - Since FIFA11.
My FUT Rep (feedback) profiles can be found here:
https://www.reddit.com/r/FUTRep/comments/60onx9/usam2748_fut_rep_profile/ https://www.reddit.com/r/FUTRep/comments/79ofoa/usam2748_fut_rep_profile_2/ https://www.reddit.com/r/FUTRep/comments/aumeze/usam2748_fut_rep_profile_3/ https://www.reddit.com/r/FUTRep/comments/d8ax3c/usam2748_fut_rep_profile_4/ https://www.reddit.com/r/FUTRep/comments/fn2442/usam2748_fut_rep_profile_5/ https://www.reddit.com/r/FUTRep/comments/jmqitp/usam2748_fut_rep_profile_6/
My current prices are per 100k:
PS4 - $9 (€8)
XB1 - $9 (€8)
Delivery Methods:
Comfort Trade - You give me your account login and I will put the coins safely into your account. This is 100% tax covered.
I accept the following Payment methods:
Paypal
Skrill
BitCoins
United Kingdom Bank Transfer
Note
Please note although prices advertised here are in USD, I actually charge in either GBP or EUR. The conversion rates will vary due to the payment processor.
I made a deep dive video breaking down Decentralized Prediction Markets like Augur, Omen (Gnosis), Delphy, Polymarket, etc.
TLDR; my Deep Dive video on Decentralized Prediction Markets.
Decentralized prediction markets utilizing blockchains have been thrusted into the forefront lately with hot predictions on presidential election outcomes for example. In these markets, you can bet on the outcome of various political, sports, corporate, weather, etc. type of events by buying shares or tokens that indicate that some event will (YES) or will not (NO) happen. At the end of the time period specified in the smart contracts, the correct prediction's token will be worth $1 while the incorrect shares will be worth $0.
Prediction markets could be a good way of gauging the probability of some outcome occurring. So if YES shares are worth $0.60, then we could roughly say that the current probability of that event happening is 60%. Of course the price fluctuates over time as information changes and as more people buy or sell or trade these prediction market shares. Some popular or notable projects are Bitcoin Hivemind, Augur, Gnosis, Delphy, Polymarket, etc.
They offer many benefits to centralized approaches like censorship resistance, a global liquidity pool, and more. But also they face hurdles - poor UI, poor liquidity, low activity, and hence leads to little adoption.
In this video, I dive deep into all things prediction markets and break it all down for you. And I would love to hear YOUR thoughts on these platforms and if you've tried out (or actively use) any of them!
FreeSkins $5000 Challenge & $100 (2x $50) Amazon giveaway!
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click here to view the post.
16.11-23.11 Good Crypto Weekly Market Summary
Quick weekly news:
- MINTING MONEY: Mintbase closed a $1 million seed round to fund development as the NFT minting platform prepares to launch on Ethereum alternative NEAR blockchain.
- OLD GUARD: Electrum developers patched one of bitcoin’s oldest wallets that had been bricked by the latest Apple update.
- PLAY GROUND: Vietnam’s Ministry of Education will use TomoChain to archive student records on a blockchain.
- SECURITY BREACH: Crypto exchange Liquid said a domain name hosting provider slip up may have exposed sensitive customer data.
Other notable events include:
- A Deutsche Bank analyst said customers increasingly prefer bitcoin over gold as a store-of-value investment.
- At least one obscure indicator suggests bitcoin’s bulls have room to roam.
Bitcoin > gold
A Deutsche Bank analyst said customers increasingly prefer bitcoin over gold as a store-of-value investment. “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things,” said Jim Reid, managing director, head of global fundamental credit strategy, as quoted by ZeroHedge. Bitcoin is up 144% on the year, and gold 22%.
Top or not?
At least one obscure indicator suggests bitcoin’s bulls have room to roam. Already notching 80% gains in the past six weeks and fast approaching an all-time high of $20,000 set in 2017, the cryptocurrency’s Mayer Multiple – the ratio of price to the 200-day moving average – is showing the current rally may be in early stages. Standing at a 16-month high of 1.67, this indicator is still well short of the 2.4 threshold that has historically signaled the final leg of the bull markets. It was this key metric that preceded the end of the 2019, 2017 and 2013 bull runs. Things are different this time around, compared to three years ago there is less retail interest in bitcoin and significantly more institutional involvement.
Also, be sure to check out top altcoin gainers and losers of the week
[For Hire] Versatile experienced developer for web, desktop, mobile application, blockchain, game, using C++, Python, JavaScript, PHP, Java, C#, and more
Me
- 20 years professional programmer.
- More than 12 years working in large global gaming companies.
- Created several open source projects.
- My personal website https://www.kbasm.com for more information.
I can do
- Develop web front and back end using PHP, Laravel, JavaScript, MySQL, HTML5, jQuery, Bootstrap.
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- Programming mentor and consultant.
My portfolio, I created all these projects
- eventpp library. It's a C++ library for event dispatcher and callback list.
- eventpy and eventjs library. Python and JavaScript library for event dispatcher and callback list (sister libraries of eventpp).
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- Gincu library. It's an open source 2D cross platform game engine written in C++ and cpgf.
- Jincu library. It's an open source 2D game engine and framework written in JavaScript ES6.
- markdown utilities. It's a collection of Perl scripts to manipulate markdown files.
- I developed my personal website and the blogging system on https://www.kbasm.com from scratch
My technology stack
- Cross platform C++ (very experienced), Boost, Qt5, wxWidget, etc.
- Python
- PHP (Laravel), MySQL, JavaScript (jQuery, ES6, ReactJs), Bootstrap, Semantic UI
- Java, C#
- I can master any new technology quickly
My advantages
- I'm reliable. I keep my promise. I do my best to finish your job.
- I'm affordable. My price is lower than a Silicon Valley programmer in the US that's equally qualified.
- I produce high quality result. I pursue high quality in both code and products.
- I am very experienced and professional. I have been developing software and games since 2000 and have been learning C++ since 1995.
Payment methods
Paypal, Bitcoin (no altcoin please), TransferWise. 50% upfront, 50% after I finish the project and before I send you the final product/code. Negotiable.
Where am I
I work remotely. I live in Beijing, China, GMT+8. I'm native Chinese.
My fee and rate
I charge a fixed fee for each project.
My general fee is lower than a senior developer with my experience level in the US Bay Area, but also don't expect my fee is as low as a middle level developer from other low end freelancer sites.
Approximate fee for typical projects, in USD
- Trivial - small projects: 3-4 figures
- Small - medium projects: 4-5 figures
- Medium - Large projects: 5 figures and more
The fee varies depending on the project type and the technology, and negotiable.
You get more than what you pay for
If you are looking for high quality development and don't want to waste your time and money, contact me, you will get very good results for your money.
To contact me, either PM me on Reddit, or contact me on my personal website https://www.kbasm.com
Hayden Otto (/u/CryptoStrategies) does not deserve your forgiveness or money
I’ve been a bit dumbstruck by how many have just welcomed this two faced punk right back into the fold with open arms and kisses like he wasn't an ABC/IFP shill and a troll right up until November 15th.
He's still an ABC/IFP apologist and whitewasher acting like they were not the hostile force trying to extort the chain and the community directly into their own pockets with an 8% subsidy, doctoring history to say ABC split "amicably" while it was in fact cast out with extreme prejudice by 99% of the miners and community with little resistance.
He doesn't deserve your forgiveness or a paycheck through Flipstarter (of which he's announced a whole new one in another show of arrogance).
If BCH is to actually move on from ABCs attempted extortion and the critical damage it's caused, those responsible for it should be cast out and shamed just like Amaury Sechet and his troll lapdog Shammah Chancellor along with their shitfork. Hayden Otto is another prominent person that went to the dark side against the greater ecosystem and community that helped and is trying to act like he didn’t now so he can keep leeching off of all of you in bad faith. After railing against BCHN for months, suddenly he's ok taking cash to market it post-fork as the default BCH chain.
So, here is a small selection of his hypocritical assholery, shilling, trolling, and slander to ponder while deciding if he really deserves a place here still:
BCHN supporters are the new Small Blockers - lie, cheat and steal to get their way.
Wondering why r/BTC has been a total cesspit lately?
Why is the Bitcoin Unlimited community donations being used to fund smear campaigns against Bitcoin ABC to the sum of $60k/year, through efforts like this and the BCHNOTAX group? source
Well the backtracking of voluntary funding proponents is now in full swing, as demonstrated by a number of replies to my above comment. All this drama was never about the IFP, it was about removing Bitcoin ABC from BCH. source
What do you think of the anti-ABC rhetoric which now plasters the top of r/btc daily for months on end? Do you think that is a good look for us? source
This has nothing to do with supporting the IFP, an issue which is now closed. Seems that you and a bunch of others have an ulterior motive to take down ABC by turning the BCH community against them. Anti-BCH forces have continually been attempting to do this over the last 3 years, given that BCH poses a great threat to the crippled BTC shitcoin and legacy financial systems. source
No, it's not. This is just a handful of individuals doing this purely to spite Amaury.This "Bitcoin Cash Node" is an exact clone of ABC, so the "No Tax" people rallying behind this have now revealed to everyone that they know ABC writes good code. They want to run ABC code. It seems this effort is purely about removing Amaury. The "No Tax" proof of social media game has been strong, but when it comes down to it they will likely fall short where it matters... with hash rate.source
This one aged like milk didn’t it
Their purpose is to do the opposite of what ABC does on all fronts to continue propping up their French man == bad narrative. This causes greater tension and division in BCH, which seems to be the end result of most things they do. source
This is not decentralised development and BCHN is the takeover attempt. Open your eyes. source
If it fails the "Bitcoin Cash Community" doesn't value: 1) Amassing large concentrations of BCH adoption. 2) Tirelessly promoting BCH in the 3rd dimension and online. 3) Organizing BCH events and conferences 4) Building your business purely on BCH That is what that says to me. Instead they value people who are troublemaker and disruptors who undermine the efforts of everybody doing what I listed above. source
One of several examples of him jerking himself off and being arrogant and pissy when his funding efforts are dashed because people don’t like idiot bullies that think they are owed a job and money for products they never asked for.
You would think that supporters of voluntary funding mechanisms would be encouraging others to utilize these methods over an IFP, to fund the commons. However we have guys like /u/NilacTheGrim, spoiling it for everyone, by doing all he can to discourage people like me from participating in voluntary funding mechanisms. Your actions and negative comments toward me and others will push more people toward an IFP rather than away from it. [source]
Oops…
Ahh the new BCHN Narrative (spin on the story after their hand was revealed): ABC is pushing a false narrative that we want to split, but this is totally not true. Really ABC is going to cause a split in November by activating IFP and then blame us for the split!
This totally ignores the fact the BCHN website used to state their primary purpose was to "neutrally follow the longest Bitcoin Cash chain without contributing to the risk of a chain split". This is now removed and when you look at BCHN plans to get rid of automatic replay protection and not follow the 6month upgrade schedule, it is clear BCHN intends to trigger a split and they're doing everything to facilitate that. source
I got banned from BCHN chat rooms, like the official BCHN one and also the "NoTax" group (operated by BU's Paul) , for no apparent reason. I got removed from the "Bitcoin Cash News" channel, which I operated and grew over two years to 2700 subscribers, for posting an article that spoke highly of Amaury Sechet. Edit: oh yeah and one of BCHN's top financiers also attempted to dox me and failed, published wrong address. These people are pure scum and frequently accuse their opposition of what they themselves are doing, as illustrated by the OP's post. source
The things you accuse me of are literally what the BCHN collective does. I even discussed it in the article, they spend all their time writing shit on reddit or read.cash instead of being productive like I am, onboarding new business and users to BCH. source
By the downvotes I guess everyone here wants to see BCH burn. Maybe i should fuck off and go do something else with my life, where my work and efforts are not shit all over by socialists? source
The grasping at straws to take over the BCH network and ticker is real LOL source
They got paid their 750 BCH and then failed to deliver on the promises set out in the flipstarter, like a number of other flipstarters including George Donnelly's. So it's clear the payment was for their allegiance against ABC. source
Go look at my comment/post history, I am a targeted individual. Its a wonder that Reddit hasn't handed out any bans to the people who are part of the coordinated vote brigading against me. source
Whaahmbulance alert
I have noticed this common trend where BCHN supporters will accuse an ABC supporter of being in a cult where they worship Amaury. It's just another instance where the BCHN supporter is projecting what is true of themselves onto their opposition, for they are the ones in an ABC hate cult. They are the ones who have distracted themselves from BCH adoption and building to instead focus their every moment on attacking Amaury and ABC, writing tediously long posts in an attempt to discredit and remove them. They have wasted their last 10 months doing this while supporters of the New Coinbase Rule are focused on achieving the Bitcoin Cash Mission, putting Bitcoin Cash in a position where it can become P2P electronic cash for the world. source
If you want to have hobbyists, incompetents and bad actors running the show, then you will get that opportunity after Nov 15. source
Ignoring the fact ftrader, an original founder of BCH along with Amaury, is who started BCHN after leaving ABC in disgust.
_
I could go on but that’s probably enough to illustrate my point. Its all out there for all to see for themselves. We let this kind of shit slide and then wonder why BCH keeps having problems.
Reap what you sow /u/CryptoStrategies. If you wanted to be a marketing arm for BCH then you should have made an effort to remain actually neutral, then your “I support the longest chain” narrative would have been true, instead of a being the hasty retreat it is after you realized you were on the wrong side of BCHN's unchallenged win.
You Ryan X Charles’d yourself and sunk your reputation throwing in your hat with ABC saboteurs, now live with it.
I look forward to your vain attempts to justify your relentless bullshit to the rest of community after all of your misguided, indefensible treachery.
How to fork bitcoin
To begin with, we’ll take you through the fundamentals. How to fork bitcoin happens when two diggers find legitimate squares simultaneously. Accordingly, when two squares have a similar square stature, this is alluded to as a fork.
The chances of finding the following squares on the two branches simultaneously again are fairly low. Be that as it may, in the event that one split of the blockchain develops longer, excavators will join this split, withdrawing the more limited split.
The squares in the more limited variant are classified “vagrant squares”. No exchanges are lost since exchanges on the stranded square, in the event that they were not as of now added to the substantial square, are re-communicated to the organization and added into the following legitimate square. These forks generally don’t change the hidden convention. On the off chance that a fork, notwithstanding, is purposeful, it is alluded to as a lasting fork.
Bitcoin’s record-breaking streak
Bitcoin’s record-breaking streak
On Wednesday, Bitcoin’s market capitalisation broke its previous all-time high, according to data from Coin Metrics. Its market cap exceeded the $328.89 billion seen on 16 December 2017 and is currently sitting at $337,800,149,459, with a price of $18,211 per BTC. The total circulating supply is now at 18,548,843 BTC.
But that’s not all. Bitcoin mining revenue also hit a yearly high topping $20m per day. This means mining revenue has now returned to pre-halving levels.
Glassnode data suggests the revenue from bitcoin mining is now back at the same levels as when block rewards were double what they are now. The most recent halving took place in mid-May this year, when the price sat around $9,000. Now at over $18,000 - effectively double what it was - we see a correlation between miners needing to sell enough of the asset to cover expenses while their operations remain profitable.
The daily revenue figure, which includes block rewards and transaction fees, was $21.2 million for 18 November, which is its highest for a year. The previous peak came close at $20.6 million just after the halving event on 6 May. This is a significant increase considering post-halving revenue plummeted to just over $7 million per day.
Another indication of a healthy bitcoin network comes in the form of the hash rate, which is now just 10% away from its highest-ever level, at 143.3 EH/s. This is important considering the slump that followed the end of China’s rainy season, where the majority of bitcoin mining takes place.
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