1000 DogeCoin to Bitcoin, convert 1000 DOGE in BTC

⟳ 870 apps added, 78 updated at f-droid.org

Notice: this update is spurious, and the issue is being looked at.
⟳ f-droid.org from Wed, 26 Feb 2020 20:21:50 GMT updated on Sun, 01 Mar 2020 05:23:29 GMT contains 2962 apps.
Added (870)
Updated (78)
2020-03-01T05:53:18Z
submitted by BrainstormBot to FDroidUpdates [link] [comments]

Sooo, tax time isn't far off....

We all know by now that BTC is subject to capital gains tax such that if you hold it under a year, it counts as income, but if you hold it over year, it counts as long term capital gains. This much is clear.
Let's look at a couple of very pertinent but less obvious subjects that we will all have to deal with shortly:
1) hard forks. According to some, you need to report the receipt of (say) BCH immediately, even if you didn't sell it. So it would go under line 21 of form 1040 as "other income" and count as income. Then, when you sell it, your cost basis is simply the $266 per it was at the time of the fork. (Which means it is taxed AGAIN, lame I know)
2) Coin-to-coin transfers. We're all transferring through the conduit of bitcoin to access altcoins like Monero, etc. If I understand it correctly, every transfer from one coin to another is a taxable event. So:
a) You transfer BTC to exchange to buy altcoin "x" (taxable event) b) You let X appreciate a bit then convert it back to BTC (taxable event, if BTC stayed steady you'd have reportable short term capital gains) c) You sell the BTC in order to reap the USD profits of X's appreciation (taxable event, the BTC has lost its long term basis because you "just" acquired it by converting from X)
This sounds like a huge fucking headache on both points, is there any reasonable, legal means to dodge this doubly unjust and unwieldy tax treatment?
submitted by jollyjingost88 to Bitcoin [link] [comments]

0.00161855 bitcoin maker app? is this accurate?? how to read bit?

Hello.! i am a new person who is going to start investing. idk anything about investing.
i cant really afford anything right now. all i have is 59$ in my cc. i do see dodge as a decent starter.
i did some work on bitcoin maker app. i had about 0.0080000 blocks, i withdraw and it gave me 0.00161855 btc? i withdraw over on coin base.
changelly = 0.00161855BTC 1,876.36995871DODGE??????????
what does this mean?
submitted by 3starhandydandynoteb to dogecoin [link] [comments]

thoughts on today's WSJ article re BTC from James Mackintosh?

Behind every bubble is a good idea bursting to get out, and bitcoin kind of looks like a good idea, at least if you squint a bit. A digital currency without borders that governments can’t control and that allows secret online transactions? I’m in. Bitcoin itself? Not so much.
So is a single bitcoin worth $500,000, $5,000, $500 or $0? I’m inclined to say $0, especially if bitcoin’s value depends on it being adopted as a global digital currency to replace dollars. There is no chance whatsoever that bitcoin can displace the dollar, for the simple reason that it is badly designed. Bitcoin can handle a pathetically small number of transactions, and uses an inordinate amount of electricity to do so, making it entirely unsuitable to replace ordinary money.
Even if bitcoin worked better, it is in a Catch-22 because of Gresham’s law, the nostrum that bad money drives out good. Given the choice of spending inflationary government-issued money or something which holds its value, everyone would spend the bad paper stuff and hoard the bitcoin. You wouldn’t want to be the person who spent 10,000 bitcoins on two pizzas in 2010, when a bitcoin was worth a fraction of a cent. Those bitcoins are now worth $40 million. But if no one spends bitcoin, it will never get established as a currency.
There are two somewhat less ambitious claims for bitcoin that could give it value. The first is that it is a limited form of money because of its usefulness for dealing illegal drugs and dodging capital controls. The second is that it is a form of digital gold: an insurance that will keep its value even if governments confiscate or inflate away the buying power of the currencies they issue.
Let us unpack the idea of bitcoin being based on illegal transactions. Dan Davies, a bank analyst at Frontline Analysts in London, came up with a value thanks to bitcoin’s built-in limit of 21 million in circulation.
In any currency, the money supply multiplied by how often it circulates equals the price level times the number of transactions. For bitcoin we can estimate three of the four variables, Mr. Davies says. He observed that even criminals don’t set prices in bitcoin, but rather in dollars, and then immediately convert. Assume that all drug dealing moves online, that bitcoins circulate as rapidly as ordinary currencies and estimate a $120 billion-a-year market for illegal drugs, and the formula spits out an ultimate value of $571 for a single bitcoin. The more drugs traded, the higher the value, and the more bitcoin hoarded rather than spent, the higher the value.
But studies cited by the United Nations Office on Drugs and Crime suggest that cryptocurrency-based online drug dealing remains relatively small, and focused on retail, meaning fewer and smaller transactions than Mr. Davies’s limiting assumption, so justifying a much lower bitcoin price.
On this basis the recent price of $3,950 is mostly speculation, and J.P. Morgan Chase & Co. Chief Executive James Dimon’s comparison to the 17th-century Dutch tulip mania is apt. Bitcoin is “being driven all over the place by speculative portfolio flows,” says Mr. Davies.
Digital gold might be more appealing for bitcoin’s true believers, who would surely prefer to avoid basing a currency on illegal activity.
Gold is hopeless if you want to pay the mortgage or buy bread, but is useful insurance because we can be confident that if a government currency collapses the shiny metal will roughly hold its value.
It helps that history holds plenty of examples of currencies losing all their value to hyperinflation while gold could still be bartered for food and shelter.
Gold has a value far above what is justified by its uses in electronics and jewelry only because (almost) everyone agrees that it has value. That “network effect” is what bitcoin needs to establish itself, and the more attention it garners, the more likely it is to become established. Yet gold has had thousands of years and a history of being used to back money to support its position.
Technological disruption may be overturning many societal norms, but securing society-wide recognition as a safe asset takes more than the backing of tech evangelists and a bunch of get-rich-quick stock promoters.
Still, the potential to replace gold gives us some figures to work with. Thomson Reuters GFMS estimates there were 2,155 metric tons of gold held in exchange-traded funds. Switch all of that into bitcoin and it would justify a price of about $5,500 for the 17 million bitcoins currently outstanding.
We could be more optimistic and think bitcoin might replace gold coins and bars. Leave aside that the gold is better than bitcoin because gold doesn’t depend on having an electricity supply, and the 24,000 metric tons GFMS estimates have been bought for investment in the past half-century would justify a price of $61,000 for every bitcoin.
If we assume that bitcoin will either succeed completely in displacing gold or fail and be worth zero, it helps explain why the digital token has been so incredibly volatile, with a 40% loss in two weeks, and a 33% rebound since Friday’s low. Based on the simple choice between total success and failure, we can very roughly say that bitcoin at 70% of the gold ETF-derived price suggests a 70% chance of displacing so-called paper gold as society’s chosen emergency store of value, and a 6% chance of displacing physical gold.
Even digital dreamers should accept that is far too high.
submitted by dannbru to Bitcoin [link] [comments]

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Bitcoin Dogecoin To Converter & Exchange Perfect Money USD

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