Official Bitcoin Thread

[Air Champa]

Anything over 10K gets reported by law.

Form 8300 and reporting cash payments of over $10,000 | Internal Revenue Service

Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300.

www.irs.gov

Gonna be a mess next year with the $600 thing, but that's your government working for you. I've always heard it was easier going after little people because they don't have the resources to fight back like someone wealthy does.

 

[mplsdunk]

That’s exactly what it is.

of course this will f over the poor harder than anyone else.

 

[oidreez]

Anything over 10K gets reported by law.

Form 8300 and reporting cash payments of over $10,000 | Internal Revenue Service

Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300.

www.irs.gov

Gonna be a mess next year with the $600 thing, but that's your government working for you. I've always heard it was easier going after little people because they don't have the resources to fight back like someone wealthy does.

Key word is "cash" though.

 

[pdino]

Keeping my eye on this, 1% yield daily on stable coins using leveraged delta neutral strategy (you leverage your position with stable coins and pursue a short and long position, whether market goes up or down doesn't matter because you've hedged your bets) Launches in 2 days:


Waiting on popsicle finance to launch on other chains: Popsicle finance is yield-optimizer using uniswap v3 which takes all the best yields. Popsicle finance auto-compounds for you, gets the lowest gas fees for you and offers insane returns. Can get 480%+ APR on Shiba/Eth pair now. 50%+ APR on Eth/stables, 25%+ on BTC/ETH pair. If you don't have those coins and want to contribute, you can "ZAP" in and use ANY token, that token will be swapped with lowest possible fees and distributed equally to the pool. They currently have 5 chains Eth, FTM, Avax, BSC, Aeth and looking to expand (add SOL). You can bridge most tokens from one chain to the next with a few clicks on same site. If you stake their native token, ICE, you'll receive 20% of the platforms profits from fees, shared amongst the stakers.

 

[johnnyredstorm]

Farming through ICE while staking ICE is the best of both worlds

looking forward to doing that

 

[daved739]

The accessibility of crypto needs major work. BTC, Etherium and anything you can buy on Coinbase and Robinhood are easy and no hassle.

These smaller projects tho, the amount of hoops u need to go through just to get your bank account to go through is absurd. I’ve been trying for 2 weeks now to buy CateCoin and it’s been one headache after another.

Originally bought BTC off Coinbase. Had to wait 11 days as part of their protocol to even be allowed to transfer that to trust wallet.

So I wait the 11 days only to realize I need BNB and not BTC to swap to pancake swap.

So then I say ok, I’ll just buy the BNB off trust wallet itself. Take a pic of my license fill out accounts, deposit the money. Only for my bank account to reject the purchase.

I then try Binance only to learn you can’t sign up if your in USA. But then I find there’s Binance.US. After signing up again with more drivers license pics and more of my personal Information on some data base that ultimately my bank account marks as fraud concern, I just give up as I seem to have no other options

I love Bitcoin and I want to invest and continue to research other coins and get involved but this process is ridiculous and makes me Bearish on the whole thing. With the amount of optimism surrounding this currency you would think it wouldn’t be this inaccessible. The average joe can’t get involved which will continue to hold it back short term.

 

[bostongeorge]

Saitama is about to pop off!

 

[tomdiginson]

The accessibility of crypto needs major work. BTC, Etherium and anything you can buy on Coinbase and Robinhood are easy and no hassle.

These smaller projects tho, the amount of hoops u need to go through just to get your bank account to go through is absurd. I’ve been trying for 2 weeks now to buy CateCoin and it’s been one headache after another.

Originally bought BTC off Coinbase. Had to wait 11 days as part of their protocol to even be allowed to transfer that to trust wallet.

So I wait the 11 days only to realize I need BNB and not BTC to swap to pancake swap.

So then I say ok, I’ll just buy the BNB off trust wallet itself. Take a pic of my license fill out accounts, deposit the money. Only for my bank account to reject the purchase.

I love Bitcoin and I want to invest and continue to research other coins and get involved but this process is ridiculous and makes me Bearish on the whole thing. With the amount of optimism surrounding this currency you would think it wouldn’t be this inaccessible. The average joe can’t get involved which will continue to hold it back short term.

I get what you're saying, but when has anything beneficial ever come easy? Plus, we're in uncharted territory

 

[ballinsam23]

I think it just further proves how we're still so early.

2017 people were going through hoops to buy XRP. BTC, ETH, LTC thats it.
2021 takes 30 minutes of research and an hour of transferring to buy a meme coin.
2025 we'll have all these coins on Coinbase or some other app for sure.

 

[daved739]

I think it just further proves how we're still so early.

2017 people were going through hoops to buy XRP. BTC, ETH, LTC thats it.
2021 takes 30 minutes of research and an hour of transferring to buy a meme coin.
2015 we'll have all these coins on Coinbase or some other app for sure.

Your second fact about 2021 is straight up not true.

I’m sure maybe different banks make the process more seamless but I’m sure there is a large percentage of people that just can’t make the process work. I’ve had nothing but rejection from Binance, trust wallet. I’ve succeeded with Coinbase but u can’t get the underground stuff with them.

I have citizens bank if anyone else has had some issues btw. At the end of the day, I’ve done the research on how to buy the tokens I want to invest in. I know exactly what steps I have to perform to do it. The most common exchange platforms which should make this seamless, won’t allow me to do it. That’s a major problem in a growth investment. Retail investing has a long way to go.

 

[mplsdunk]

Sounds like your bank is hating tbh.

i’m not some computer mastermind but I have no trouble figuring this stuff out with YouTube.

binance hasn’t approved me either but that’s not a crypto issue that’s just them.

 

[jjs]

There’s a lot of hoops to jump through for your first meme coin.

but usually after the first that’snot listed on the big exchanges, you have most things set up to buy the other meme coins so the process becomes way simpler (not the simplest, but simple enough).

 

[アミーゴ]

There’s a lot of hoops to jump through for your first meme coin.

but usually after the first that’snot listed on the big exchanges, you have most things set up to buy the other meme coins so the process becomes way simpler (not the simplest, but simple enough).

Tell me moar

 

[johnnyredstorm]

All of that time wasted and you could’ve done research on real projects with sustainable benefits long term

Crypto forces you to be better, to grow quicker and to do things others can’t. Stop getting mad and dig deeper.

 

[truss]

If I had liquidity I’d look into these Warren Lotas NFTs

 

[noskey]

I mean... ETH on Coinbase > transfer to MM > buy coin thru exchange with MM (and pay unreasonable gas). One way for ****coins or altcoins off CEXs.

 

[mplsdunk]

Just buy nodes and pump the price up for us

 

[dragonnife]

I had bought some Avax on Coinbase and tried sending to MetaMask but had to wait for 3 days because Coinbase could not accept or register my driver licenses… I guess I have to be patient with staking time.

 

[stuntman mike]

of you’re doing transactions on ethereum nowadays, you must have アミーゴ money.

 

[アミーゴ]

of you’re doing transactions on ethereum nowadays, you must have アミーゴ money.

This thread gives me a headache man - so much poor advice, idk how you do it lol. I’ve had this same convo with johnnyredstorm before lol

 

[johnnyredstorm]

It’s like folks never heard of a bridge before

you can buy anything on any EVM chain with ether in your wallet

first time I bought solana I had to use sollet.io and swap .1 eth at a time

to buy time I had to bridge into avalanche

if you want it, learn and go get it

crypto isn’t for the weak willed, weak minded, or lazy

if that’s you, go buy doge on Robinhood

 

[mplsdunk]

People act like you have to be on here non stop locked in your bedroom trading.

 

[アミーゴ]

People act like you have to be on here non stop locked in your bedroom trading.

There’s a reason I hardly post in here

 

[noskey]

People act like you have to be on here non stop locked in your bedroom trading.

Wait. You guys arent?

 

[ICE CITY CF]

Wait. You guys arent?

I’m all seriousness, nope. It cost me knowledge, opportunities, and literal profits, but balance is everything.