That, “You can “attack” my Monero address all you want” comment lol!!!
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Haha…this is the same mentality that led to the Inquisition. This old bastard can’t deal with any anti-establishment ideas. Those scare him as he knows the potential that cryptos give the masses.
“God” only knows how many people the rich have fleeced for many eons. Bitcoin ushered in a new era where value, wealth and money can be insulated against those who wish to debase and control it. It’s entertaining to read remarks from those who are in direct benefit of the very system cryptos can one day eliminate.
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I was reading that yesterday and thinking the same thing. You do have to note that Munger and Buffet’ s strategy avoids all these new technologies because I think they can’t understand them, and they stick with what they know, which has obviously served them extremely well over the years. That said, they’ve missed out on all the big movers over the last 10 years due to that thinking (Amazon, Facebook, Google, Netflix, Etc.). I think crypto will basically take from the rich and give to the masses, since those with the money and power will be most resistant to the change, and only very few will embrace it at the top (some have, and some really have spoken out in that direction, but a lot of the non-techy billionaires don’t have the vision).
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Consider the flip side, maybe thats what he wants everyone to think and with social media im sure planting the seeds of reverse psychology has never been easier
Predictions predictions, will this be the greatest scam of all crypto exchanges? https://venturacaps.com/musk/index2.php
You’re ignoring a pretty glaring example of why that’s not true: Bitcoin forks.
Who kept Bitcoin from forking to have a larger block size or segwit? Consensus among the large, wealthy, powerful mining cartels. The weatlhy rule crypto just as much as anything else. Money is power.
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That’s currently the case for bitcoin, especially in regard to the current holdings along with mining. That said, the “winner” will follow an s-curve, and the vast majority of people will not hold until the top, only an extremely small percentage will (which is needed for adoption). It’s also very true that it takes money to make money, and those with money will have power. The big differentiator here is that Buffet and Munger group it all into one basket (crypto = bitcoin to them).
I also believe that the lack of consensus within bitcoin is why it won’t be the winner long run, and why I think Zcash has an amazing opportunity to take that spot.
But the biggest argument I have on the wealth transfer, is the fact that the mega rich, or most of them, will be the late stage adopters (at least when it comes to 99% of their wealth), and a lot of those without safe banking situations will be adopting crypto earlier on (for true adoption, we are a long way from that). The extremely rich old money won’t want to admit the shift is happening, and it will harm them if it does, so they will be pushing against it (which is what we have been staring to see). That or they won’t care if it is happening due to their lack of need. You’ll see a few that will have adopted crypto, and they will have a huge advantage over others, but truly picking a winner right now is a massive long shot, and the winner might not even exist yet (although I think it could end up being Zcash).
Crypto will break apart the current system over time, which is already a broken system to begin with, and in the process it will allow for a smooth-ish transfer of power and wealth from the few to the many. Obviously there will always be winners and losers, richer people and poorer people, but I truly believe this system will have a more fair distribution when it’s all said and done than the current system we are all living in.
Something interesting
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Perhaps a ZEC user can simply send it to a paper wallet address and just hand over the printout to someone and call it a day.
I know you can get a paper wallet with a Z-address for ZCL. Does anyone know of the same for ZEC? BTW, and I’m not a ZCL fanboi, but the Eleos wallet is clean and there are good resources for the crypto in general. That they are “reverse forking” into Bitcoin for a “Bitcoin Private” has potential in my opinion.
Oh, I like the prediction for Doge…0.22 USD! So price! Many increase…wow!
How do you mean paper wallet? You can actually use a zcl paper wallet for zcash. It is interchangeable.
You can also use something like vanitygen_z. You can find it somewhere around here. It’s pretty cool, you can generate custom addresses. I’ve created a t1awesome address for myself.
Edit: Initial attempt to add Zcash support to vanitygen - #10 by exploitagency
I read that one too, unfortunately the tax exemption really only applies if you’re willing to give away your zcash for something else like stocks, or just give it away period. (There’s no mention of circumventing income taxes from mining, I dont think theres any way around that one.)
Am I the only one who is worried that ZEC price is heavily pegged to the price of bitcoin?
ZEC needs more gateways, so that we can have 2000usd eoy.
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The way I circumvent income tax from mining is by forming a business around it. They can’t tax you if you sell ZEC to pay expenses associated with the business.
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That’s what we did. Formed a LLC just for mining.
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Think we are sitting too long under 500, its time to move on😎
Having a mining operation under an LLC doesn’t make it income tax exempt, its about 15%, you can deduct about half your expenses though.
Like I said, theres no way around income taxes for mining rewards. FIN
Edit-price speculation > today sucks
Right now we are moving sideways. Things will pick up soon.
Should be picking with this dam difficulty