Banking on Bitcoin

[Reign Mack]

Was thinking about that. I have a few cores that still run pretty well with doubled up ram and video cards. Let us know how that goes and thanks for the updates

Just a update on the TFT Farming, I decided to go all out and use all my spare PC's to farm TFT, these small form factor desktops I have run off laptop parts so idle at 11.1watts
I upgraded the ram of my nodes to 64gigs and 4 TB of SSD space to get maximum tft rewards from affordable parts.

You get sent a statement at the beginning of each month showing what your nodes uptime was in seconds and how much tft earned during that period. I'm currently running an 8 node farm at home with various setups eventually all 8 of my nodes will have 64 gigs of ram and 4TB ssd, they should all be banking 1058TFT per month each by then.

This list has 10 different nodes on it as a upgraded some of my nodes midway through the month so they registered as different nodes after being upgraded.

 

[Reign Mack]

New ATH for bitcoin today.

 

[Chris]

New ATH for bitcoin today.

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I’m hoping my Ethereum investment pays off in the long run. So far I’ve made $10,000 but I’m in the for long haul.

Anyone who doubts crypto is a fool.

 

[Reign Mack]

I’m hoping my Ethereum investment pays off in the long run. So far I’ve made $10,000 but I’m in the for long haul.

Anyone who doubts crypto is a fool.

Eth will easily pay off, i wouldn’t sell any until at least 2024.
The gas fees are still too damn high though. Was getting $600 gas fees a couple of weeks back. The continued updates are meant to improve the fee at some point

 

[rasband]

Eth will easily pay off, i wouldn’t sell any until at least 2024.
The gas fees are still too damn high though. Was getting $600 gas fees a couple of weeks back. The continued updates are meant to improve the fee at some point

ETH is the biggest chain I can argue for since it's built so other tokens and apps can be on it, but they really need to address the fees. I hope these upgrades eventually lead to that.

 

[Reign Mack]

One my tokens did 1000% last week so used a small amount of profit to buy RAM for the rest of my TFT nodes.

 

[Chris]

Eth will easily pay off, i wouldn’t sell any until at least 2024.
The gas fees are still too damn high though. Was getting $600 gas fees a couple of weeks back. The continued updates are meant to improve the fee at some point

Yep, I am holding onto it for as long as possible. I haven’t touched it since I bought it years ago. I agree with you on the fees, right now they are ridiculous.

 

[KcTj]

Could this be the beginning of the end for the Federal Reserve Banks, the IMF, and the World Bank? I can think of worst things.

 

[Chris]

Could this be the beginning of the end for the Federal Reserve Banks, the IMF, and the World Bank? I can think of worst things.

I sure as hell hope it is the end for them.

 

[Reign Mack]

Could this be the beginning of the end for the Federal Reserve Banks, the IMF, and the World Bank? I can think of worst things.

Nah, they will just adpot their own digital currencies to push to the masses, some top 20 projects have probaby already been co-opted. Most of the big investments right now are institutions, telling average joe its all a scam while they slowly buy up everything for themselves.

 

[Reign Mack]

Shib made billionairs

 

[bucky]

Question?
How does one change Bitcoin into actual cash money?

 

[Reign Mack]

Question?
How does one change Bitcoin into actual cash money?

Easily, you can do it through exchange a bank, cash machines which except crypto or peer to peer with another person who wants to trade fiat or crypto.

 

[bucky]

Easily, you can do it through exchange a bank, cash machines which except crypto or peer to peer with another person who wants to trade fiat or crypto.

So I can go to my local bank and pull it out as cash? How do you go about paying capital gains tax on it?

 

[Chris]

Everyone I know used to be hesitant on crypto. Those same people are now all in. I truly believe this is the future of currency.

 

[rasband]

So I can go to my local bank and pull it out as cash? How do you go about paying capital gains tax on it?

No, not your bank. Usually an exchange, transfer cash to your bank, and go on your way. Some cities have a limited number of Bitcoin ATMs, but pretty much no other crypto has an ATM last I checked.

And capital gains you have to self report.

 

[Reign Mack]

So I can go to my local bank and pull it out as cash? How do you go about paying capital gains tax on it?

Depends on which banks you use in your country, I can’t tell you how capital gains taxes work in your country.

 

[Reign Mack]

Everyone I know used to be hesitant on crypto. Those same people are now all in. I truly believe this is the future of currency.

Well at least they didn’t wait until it was too late.
Hopefully they didn’t start buying in at the top,

 

[Reign Mack]

No, not your bank. Usually an exchange, transfer cash to your bank, and go on your way. Some cities have a limited number of Bitcoin ATMs, but pretty much no other crypto has an ATM last I checked.

And capital gains you have to self report.

There are cash machines which accept more than just BTC in America

 

[Reign Mack]

@rasband ok there are probably like 3 or 4 atm in the country but we are getting there