Tuesday, October 9, 2018
Chatting with an Expert on Bitcoin
I recently started watching Andrew Hales's content, he is a very interesting guy and it interesting to see him talk to someone about Bitcoin. Everyday it seems, crpyto becomes more and more mainstream.
Friday, September 14, 2018
My New Wallet: Bitpay
My go-to wallet, multibit, has not seen
an update in quite a while and is really out of date. So I needed a
new wallet. Additionally, my go-to site for gift cards, egifter,
needed a new method of payment for bitcoin. So I had to get a new
wallet that supported invoice payments. This is where Bitpay comes
in.
It is a pretty standard wallet with a
few cool features. One, you can buy amazon gift cards directly on the
wallet. This is a super nice addition. One of my least favorite
aspects of spending bitcoin is just double checking you pasted the
wallet address correctly. But with the payment system integrated into
the wallet, it's not an issue. Additionally, the invoice system that
bitpay supports is a big help in this regard as well.
Speaking of new things, I also have a
new faucet I really like. You can claim every 30 minutes from a huge
list of altcoins, it even sorts them for you by price, so you can
claim the most valuable coin!
Even better, coins that have proof of
stake are staked for you in your btcpop wallet! Definitely worth
looking at. Check
it out here!
For a last piece of news, I bought a
mining contract on BTCpop.
On 4/28/2018 I paid 0.00032148 btc (
about 3 dollars) for a scrypt mining contract on BTCpop. As of
5/15/2018 I have earned LTC 0.00013965 or about two cents. So at
this rate in 6.25 years it will be pure profit!
Actually, the situation is much worse
than I originally thought. See the payout of this contract is
dependant on the price of LTC. Each payout has a flat fee associated
with it. If the value of the the crypto is less than the flat fee,
you are paid nothing. So given the decreases in prices of
cryptocurrency, my mining contract is now not paying out most of the
time, so it looks like my return of capital will be even later than I
had originally thought! Oh goodness.
Saturday, September 8, 2018
Early September Round Up
As some of you may know, I used to write for Coinbuzz until the site kind of just stopped. Well, for the first time in years there is new content on the site! It looks like two articles were published this summer.
In other news, my bitcoin book is getting a little dated and may need a new edition. So I’m offering it for just 1 dollar! And when I publish a new edition, you get it free! So check it out here on payhip!
Here are some other recent-ish pieces of news:
Robert Kiyosaki Calls US Dollar Fake, Says Bitcoin Will Be Its Replacement
Here is a CPA firm that specializes in Cryptocurrency taxation!
Last, as I mentioned this this post….
Many mining websites are a scam, and it is just a matter of time for one of them to shut down. As I prepared this post, I checked on quite a few mining sites, and all of them were offline except this one. So I was a little bit surprised.
Be sure to check in soon, as I can’t imagine It will stay up too long.
Tuesday, August 14, 2018
Unsophisticated Investor
I saw this article
linked on reddit recently, it looks like it is getting
a lot of backlash. Now, I get why, but let me share a little
representative of it.
I think this takes the Fed Chairs words
slightly out of context. After all, unsophisticated has a technical
meaning as well.
A sophisticated investor or accredited investor is defined by the
SEC as the following:
An accredited investor, in the context of a natural person,
includes anyone who:
earned income that exceeded $200,000 (or $300,000
together with a spouse) in each of the prior two years,
and reasonably expects the same for the
current year, OR
has a net worth over $1 million, either alone or
together with a spouse (excluding the value of the
person’s primary residence).
It isn’t necessarily a term to
belittle people, it's just a statement of fact.
Here is some other news I was looking
into this past week.
As you probably know, as an accountant
and Crypto euthistist I always look for referencing to crypto in
accounting publications, well here is the Journal
of accountancy on crypto
And lastly, I’m considering
a 2018 update to my ebook (which a copy provided FOC if anyone who
bought the last edition). Let me know what you think!
Tuesday, July 24, 2018
Poly Math and Bitcoin Podcast
Here is some more slightly old news! As
well as a funny video, enjoy!
I ran into this interesting podcast.
This is the only episode I have listened to so far. But it talks
about a service called polymath, which seeks to solve some of the
compliance issues associated with offering public securities.
As you may or may not know, there are a
lot of rules. In fact, that is pretty much the purpose of the SEC.
Anyways, this podcast explains all that background and is pretty
interesting. I would definitely give it a listen.
One other item of news, John Mcafee was
hospitalized.
https://www.reddit.com/r/Bitcoin/comments/8xauph/went_cave_exploring_recently_and_i_think_i_found/
Sunday, June 24, 2018
Mid-June Round up
Sometimes I start an article, but never finish it. Here are some of those articles!
It looks like John McAfee will really debate Jamie Dimon! That is crazy! And I mentioned this is what should happen in a reddit post.
Largest Crypto Event EVER Coming to the US this July 11-13 at @harrahsresort in Atlantic City, NJ.— Blockchain World Conference (@BWCevent) May 28, 2018
Tickets on SALE NOW but Selling Out FAST.
50% OFF Until June 1st
25% OFF June 1-15th
Full Price June 15-July 1st
2x Price July 1-10https://t.co/pjMvne3cEl pic.twitter.com/fsBUkWLv5j
I also recently watched a documentary on Netflix about John McAfee. I recommend watching it, it's called Gringo: The Dangerous Life of John McAfee. This is just one source of information, but it looks like John has a bit of a shady past. I mean, I had heard about some of this past, but watching the documentary makes it more clear. I don’t know what I will do if he gets the LP party nomination for 2020, but that is a story for my other blog.
Anyways, here are some links I have been looking at lately. Lots of interesting Crypto news and I can’t cover it all.
Somewhat recent links
Robert Shiller has been getting a lot of press attention regarding bitcoin. He actually has a pretty great finance course on COursera,
“Mining rigs”
Earning money
Paying taxes on what you have earned?
Big 4 accounting and Crypto auditing
Thursday, June 7, 2018
Iconsumer
So I have a few shares I received for
free from this company called Iconsumer.
They are one of those cashback companies. You buy stuff online and
they give you a small amount of cash back. One of the methods they
pay you is via bitcoin, which is why this post is on this blog. They
recently released financial statements and of course, as an
accountant I had to look over these.The statements are quite telling.
Let's look at Gross profit:
So the company gives out more money that it makes from its commissions. This seems like a really good product to use. This simply is not a sustainable business model, and I think the idea is to attract users and then lower the payback rate once they have more users. But that means the time to use this service is now when you will get the most of it! Check it out here!
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