Are we excited yet?

AlmightyCushion

bfa1509 wrote: »

If it was a US authority that recovered it then selling it means they see it as something that isn't a criminal asset. It gives it more legitimacy I feel.

Edit: Just see that it was with bitcoin the ransom was paid with. Nevermind.

It doesn't matter. They seize property all the time and sell it, houses, cars, boats etc. They obviously don't sell stuff that is illegal like drugs, they would destroy that. Bitcoin isn't illegal though so they would sell it and have sold it in the past.

bfa1509

AlmightyCushion wrote: »

It doesn't matter. They seize property all the time and sell it, houses, cars, boats etc. They obviously don't sell stuff that is illegal like drugs, they would destroy that. Bitcoin isn't illegal though so they would sell it and have sold it in the past.

It would be interesting to know in other cases if they sell instantly on seizure or if they HODL

BrandonBay86

Another 1,000,000 moved to cold storage. No choice.

grindle

bfa1509 wrote: »

It would be interesting to know in other cases if they sell instantly on seizure or if they HODL

I think they've probably modified by now but they've dumped it OTC at market rates before. Same happened in Japan when they first started dumping Mt Gox funds like morons presuming people wanted worthless Yen.

Tim Draper bought 30,000 Bitcoin for $633 a piece when the US were selling off the Silk Road funds.

Bob24

Not quite sure about the technicalities of the legal process there to enact a law, but the BTC legislation has been approved by Congress in El Salvador:

https://twitter.com/nayibbukele/status/1402507224916836352?s=21

So either it is legal tender already or it will be soon.

SkyRevNet

Is it possible to automate a task on windows or is there software that will allow me to automate a task

For example, I'm looking to auto daily downloads of the price history of a number of cryptos (BTC, ETH, ADA, etc.) from Coindesk website and add them to individual tabs on an excel file. I don't want to do this manually each day as I've other work to do. Is it possible to automate this task?

Alternatively, is there anywhere online that provides an excel or csv file that has complete daily price histories for the major crypto/s?

Bob24

SkyRevNet wrote: »

Is it possible to automate a task on windows or is there software that will allow me to automate a task

For example, I'm looking to auto daily downloads of the price history of a number of cryptos (BTC, ETH, ADA, etc.) from Coindesk website and add them to individual tabs on an excel file. I don't want to do this manually each day as I've other work to do. Is it possible to automate this task?

Alternatively, is there anywhere online that provides an excel or csv file that has complete daily price histories for the major crypto/s?

I am doing this with Numbers on Apple platforms (it can retrieve any value from Yahoo Finance with a formula), but I also know someone doing it with Excel on Windows. I think it is a bit more complicated and he had to write some script to parse CoinMarketCap though.

Westernyelp

Lads. Anyone know much about Tfuel? I took a little punt on it a few weeks ago and it is at or near its ATH now. Much left in the run I wonder.
Complete newbie here.

cc87

Lacking details but looks like the FBI followed the BTC around as much as they could until it settled in a wallet and they had the key or were able to access the key to that wallet (point 34).

https://www.justice.gov/usao-ndca/press-release/file/1402371/download

SortingYouOut

cc87 wrote: »

Lacking details but looks like the FBI followed the BTC around as much as they could until it settled in a wallet and they had the key or were able to access the key to that wallet (point 34).

https://www.justice.gov/usao-ndca/press-release/file/1402371/download

I wonder how they got their hands on the key. Maybe it was stored somewhere that they could access.

cc87

cc87 wrote: »

Lacking details but looks like the FBI followed the BTC around as much as they could until it settled in a wallet and they had the key or were able to access the key to that wallet (point 34).

https://www.justice.gov/usao-ndca/press-release/file/1402371/download

Interesting. I wonder do they have some people planted in that community to take it down from inside.

cc87

SortingYouOut wrote: »

I wonder how they got their hands on the key. Maybe it was stored somewhere that they could access.

The rumour is they had access to the servers the hackers were using but just rumours. Seems a bit amateur for a hacking group to keep the key on a server/anything linked to a network.

I do wonder if the BTC recovery is linked to the ANOM messaging app the FBI used to arrest 100s worldwide recently.

https://www.bbc.co.uk/news/world-57394831

Dohnjoe

Bob24 wrote: »

Not quite sure about the technicalities of the legal process there to enact a law, but the BTC legislation has been approved by Congress in El Salvador:

https://twitter.com/nayibbukele/status/1402507224916836352?s=21

So either it is legal tender already or it will be soon.

Can't wait to see how many people don't use it as daily tender. Like those unused Dash terminals all over Venezuela. I am guessing it's a move to get people from the US to come to El Salvador and cash out their BTC tax-free.

Shedite27

cc87 wrote: »

The rumour is they had access to the servers the hackers were using but just rumours. Seems a bit amateur for a hacking group to keep the key on a server/anything linked to a network.

I do wonder if the BTC recovery is linked to the ANOM messaging app the FBI used to arrest 100s worldwide recently.

https://www.bbc.co.uk/news/world-57394831

That was my first thought too. Was the timing really just a coincidence

Unearthly

Interesting that there was more China fud this morning about banning mining but it hasn't impacted the price yet.

At this stage surely people who panic react to news are gone but who knows. Still a long way back for bitcoin at this stage but a good battle is taking place

Antares35

Unearthly wrote: »

Interesting that there was more China fud this morning about banning mining but it hasn't impacted the price yet.

At this stage surely people who panic react to news are gone but who knows. Still a long way back for bitcoin at this stage but a good battle is taking place

Now just need to shake out the Elon tweet followers...

Chris_5339762

First get him to say Doge is dead and to try and get a race to the bottom. Get it down to almost nothing.

Then get him to say its very much alive and to aim for $1 per coin.

Riches!

cnocbui

Unearthly wrote: »

Interesting that there was more China fud this morning about banning mining but it hasn't impacted the price yet.

At this stage surely people who panic react to news are gone but who knows. Still a long way back for bitcoin at this stage but a good battle is taking place

I'd call a 6.22% positive spike, 'impacted'.

Unearthly

cnocbui wrote: »

I'd call a 6.22% positive spike, 'impacted'.

Haha yes meant negatively obviously.

Unearthly

Well today has gone good....

cnocbui

Unearthly wrote: »

Haha yes meant negatively obviously.

It's now up 14.88%. Would China please say more bad things about bitcoin.

Unearthly

cnocbui wrote: »

It's now up 14.88%. Would China please say more bad things about bitcoin.

El Salvador 1-0 China

cnocbui

I'm not sure excited even begins to describe the feelings this engenders:

El Salvador has become the first country to adopt bitcoin as legal tender.

Lawmakers in the Central American country’s Congress voted by a “supermajority” in favor of the Bitcoin Law, receiving 62 out of 84 of the legislature’s vote.

The price of bitcoin was up 5% to $34,239.17 shortly after the vote.

https://www.cnbc.com/2021/06/09/el-salvador-proposes-law-to-make-bitcoin-legal-tender.html

el diablo

Westernyelp wrote: »

Lads. Anyone know much about Tfuel? I took a little punt on it a few weeks ago and it is at or near its ATH now. Much left in the run I wonder.
Complete newbie here.

Long-term it can potentially go quite a bit higher but it might be a good idea to take some profit. Check out the Theta thread on this forum.

Bob24

Dohnjoe wrote: »

Can't wait to see how many people don't use it as daily tender. Like those unused Dash terminals all over Venezuela. I am guessing it's a move to get people from the US to come to El Salvador and cash out their BTC tax-free.

Dash is not Bitcoin, and one private organisation trying to promote its token is not the same as a government making a crypto legal tender and supporting/encouraging its use. So the situation is rather different.

But in any case this is an interesting real world test and I also look forward to seeing how it plays out.

For sure, part of this is an opportunistic move to attract people and investment related to crypto. But actually this isn’t a bad thing if it brings capital (including human capital) to the country. And it will be really interesting to see how the population reacts. Quick and low fee mobile payments based on L2 solutions could be an actual use case in a country whereby many people are unbanked.

cnocbui

cnocbui wrote: »

I'm not sure excited even begins to describe the feelings this engenders:



https://www.cnbc.com/2021/06/09/el-salvador-proposes-law-to-make-bitcoin-legal-tender.html

It's a step in the right direction but I wish it's greatest use case wasn't tax evasion

cnocbui

Deleted User wrote: »

It's a step in the right direction but I wish it's greatest use case wasn't tax evasion

Is Bitcoin what all those US billionaires used?

Didn't think so. Nice attempt at casting shade from a high horse there.

cnocbui

cnocbui wrote: »

Is Bitcoin what all those US billionaires used?

Didn't think so. Nice attempt at casting shade from a high horse there.

I don't follow?

cnocbui

Deleted User wrote: »

I don't follow?

This help?

From Jeff Bezos and Elon Musk to Warren Buffett and Michael Bloomberg, almost all of America’s 25 richest people paid $0 or negative income tax in some years and a much lower tax rate than middle-class Americans in others, an investigation of leaked Internal Revenue Service data by ProPublica has found.

It’s barely news that the ultra-rich often find ways to legally avoid taxes. But the report for the first time sheds light on specifically how little they actually paid in recent years. ProPublica looked at tax return data of thousands of America’s wealthiest people over a time span of more than 15 years.

The findings are unnerving. For example, Bezos, the world’s richest person, didn’t pay any income tax in 2007 and 2011; Musk paid $0 in federal income tax in 2018; and billionaire investor George Soros did the same three years in a row.

To get a clear look of how much tax billionaires paid versus average Americans, ProPublica created a measure called “true tax rate,” defined as the amount of federal income taxes paid by a person in a given year divided by their wealth growth over the same period, using Forbes data.

The report first looked at the nation’s 25 richest people. Between 2014 and 2018, these 25 people saw their net worth collectively grow $401 billion. In those years they paid a total of $13.6 billion in federal income taxes, which amounts to a true tax rate of only 3.4 percent.

...

Among the top 25 Warren Buffett has the lowest true tax rate of just 0.1 percent. Between 2014 and 2018, he saw his fortune rose $24.3 billion while paying only $23.7 million in taxes.

https://observer.com/2021/06/bezos-musk-billionaire-tax-evasion-irs-data/

AlmightyCushion

cnocbui wrote: »

This help?

https://observer.com/2021/06/bezos-musk-billionaire-tax-evasion-irs-data/

You don't pay tax on assets until you still them. Whether that is you holding bitcoin or Bezos/Musk holding shares. The reason they don't pay income tax is they get paid in shares. Not sure if there is a tax on that in the US (there is here) but there should be of there isn't.