Best Recent Content

  • Quickbt reviews? Any one use it? Any good?

    First time user of quickBT. Got my bitcoins within 5 hours. As a first timer, this good service. Thumbs up.
  • Japan officially recognizes bitcoin

    Japan officially recognizes bitcoin. New legislation that legitimizes digital currencies goes into effect on Saturday. The country's accounting regulator hasn't clarified how to account for bitcoin, though, leaving companies that use the cryptocurrency in limbo.
    https://news.bitcoin.com/japan-bitcoin-method-payment-april-1/
  • CIF Crypto Improvement Fund ICO

    CIF Crypto Improvement Fund
    ICO - 2017.09.01

    ***Post will be updated asap with pictures to look much nicer - just created a new acc for monitoring this thread!***

    Coin Info
    Coin Name : CIF (Crypto Improvement Fund)
    Creation : ICO Completiont
    Type : Waves - POS (Proof of Stake)
    Algorithim : Scrypt
    Block Time : 60 secs
    Total Supply : Dependant on ICO participation (read below)
    Premine : 0%

    Coin Links
    Website : https://cryptoimprovementfund.io
    Block Explorer : http://wavesexplorer.com/
    Wallet: https://waveswallet.io/
    Whitepages: https://cryptoimprovementfund.io/wp-content/uploads/2017/08/CIF_Whitepaper.pdf
    Roadmap: https://cryptoimprovementfund.io/wp-content/uploads/2017/08/Roadmap.jpg
    Fund Allocation: https://cryptoimprovementfund.io/wp-content/uploads/2017/07/Capture.png

    Social Links
    Twitter : https://twitter.com/AdminCIF
    Facebook : https://www.facebook.com/cryptoimprovementfund
    Telegram: @Cryptoimprovementfund
    Reddit: TBA
    Slack: TBA


    What is CIF?

    The creation of the asset Crypto Improvement Fund (CIF or “asset” or “token”) is an innovative project which will spur the growth and popularity of the cryptocurrency market through a very simple, yet effective means. The CIF asset will offer all-in-one functionality as a business incentive, marketing tool as well as customer loyalty program.

    This document explains our proposal for the architecture of the CIF program, its diverse features, aspects and proposals as well as our roadmap.
    CIF is an asset designed first and foremost as a business incentive program rewarding cryptocurrency adoption. Although there are other aspects to this project, cryptocurrency business adoption is our number one priority.


    What is the Business Rewards Program?

    The main premise behind this asset is the CIF Business Rewards Program. This program will reward businesses for their increased awareness, involvement and acceptance of the cryptocurrency market.

    To qualify for the rewards program. Businesses must incorporate and use a form of cryptocurrency as a viable payment method for their clients. The type of cryptocurrency at this point is not defined due to the fact that this asset is meant to increase the awareness and acceptance of the cryptocurrency market as a whole entity – not promote an individual coin.

    The program will be offered at zero cost to the businesses involved with our value added services being our revenue source.

    To qualify for our rewards program, businesses must show 6 months of sales transacted via a cryptocurrency. The business must also show proof that the means of payment (various altcoins) are advertised and communicated to clients.

    Businesses will receive a quarterly amount (“allowance”) of CIF based on total asset value once calculated upon ICO completion. The allowance will have to be re-calculated against total asset price if asset price increases or decreases. Total quarterly CIF allowance will be calculated based on monetized volume of business conducted with cryptocurrency. Greater volume of transactions will equal a greater allowance.

    The goal behind this is to not only incent businesses to use cryptocurrency, but reward them for doing so. Cryptocurrency training and consulting will be offered to businesses who are involved in the rewards program (see – Value Added Services) to allow them to exchange their CIF for Fiat currencies or use for our value added services/ customer loyalty tokens. With CIF the merchant demand is reflected back onto the underlying market which in turn increases the value of the token.​ CIF is a token of fixed supply. Considering there is a certain finite amount created for qualified businesses per quarter the value will continue to rise as demand increases and supply is controlled. The CIF unit price will continue to rise making the program more attractive to new businesses and more lucrative for early adopters.


    Value Added Services

    • Customer Loyalty Program
    • Meraki Turnstyle Integration
    • Training/Consulting
    • Wallet Client w/ Custom Advertising
    • Ecommerce Integration
    • Dashboards
    • CRM Integration


    Key Dates

    • [ANN] Announcement – August 9th 2017
    • ICO Token Sale Start Date – September 1st, 2017
    • ICO Token Sale Close Date – December 1st, 2017
    • Token Allocation/ Bounty Payouy – December 15th, 2017
    • Trading Launch – December 15th, 2017
    • Program Launch – January 1st, 2018


    Token Distribution

    1 BTC = 2000 CIF
    1 ETH = 145 CIF
    1 WAVES = 2 CIF

    BTC, ETH or WAVES will be viable currencies for purchasing CIF. This sale will be used to fund various aspects of the CIF project.

    • 0.2x the total amount sold will be allocated to first month/period ICO bonuses (Day 1-30).

    • 0.1x the total amount sold will be allocated to second month/period ICO bonuses (Day 30-60).

    • 0.099x the total amount sold will be maintained as a long term reserve.

    • 0.099x the total amount sold will be allocated towards bounty program.

    • 0.099x the total amount sold will be maintained for the first business program applicants in year 1.

    • 0.099x the total amount sold will be allocated to new business program applicants forever in year 2+.

    • 0.25x the total amount sold will be allocated to miners per year forever after the genesis block.


    Bounty Program


    To receive portion of 0.099x (as shown above) the total amount sold. This will ensure that bounty will be reflective of total success of project. Please track all bounty activity on google docs (coming soon). All bounty will be paid upon ICO completion.

    Please see allocation of Bounty. Total allocation will be divided between individuals who participated. All bounty is percentage/stake based. There is 0.099x the total amount sold which will be allocated towards the bounty. That portion will be further divided as follows. Bounty campaign will be defined shortly. Traditional bounty offerings/ requirements are all on the table.

    30% Bounty – Social Media Shoutout / Adopting Signature
    15% Bounty – Signature Creation
    25% Bounty – Translations
    30% Bounty – Press Release/Interviews/Articles/Blog Posts


    ***Thanks for following our project - please don't hesitate to contact us on any social media platform/ telegram or here. Looking forward to insight, ideas and community involvement on this one. Post will be updated once member status has been updated.***
  • Best way to sell 0.5 BTC for cash/interac

    Do BTC ATMs have a lot of fees or are they reasonably priced?
    You're looking at PAYING 5-15% in fees if you use an ATM. You're looking at BEING PAID a 5-15% bonus if you use LocalBitcoins.
  • Taxes on Bitcoin

    Let me also grab a full copy for posterity pasted below -- and copied here: http://archive.is/31O8T


    Digital currency is electronic money. It's not available as bills or coins.

    Cryptocurrencies are a type of digital currency created using computer algorithms. The most popular cryptocurrency is Bitcoin.

    No single organization, such as a central bank, creates digital currencies. Digital currencies are based on a decentralized, peer-to-peer (P2P) network. The “peers” in this network are the people that take part in digital currency transactions, and their computers make up the network.

    Using digital currencies

    You can use digital currencies to buy goods and services on the Internet and in stores that accept digital currencies. You may also buy and sell digital currency on open exchanges, called digital currency or cryptocurrency exchanges. An open exchange is similar to a stock market. 

    To use digital currencies, you need to create a digital currency wallet to store and transfer digital currencies. You can store your wallet yourself or have a wallet provider manage your digital currency for you.


    You need a “public key” and a “private key” to use your wallet. Keys are made up of a random sequence of numbers and letters.


    Public keys are used to identify your wallet.


    Private keys are used to unlock your wallet and access your money. Private keys should be kept secret.


    All transactions are recorded to a public ledger or “blockchain” that everyone can see.

    Digital currencies, such as Bitcoin or other cryptocurrencies, are not legal tender in Canada. Only the Canadian dollar is considered official currency in Canada.

    The Currency Act defines legal tender. Legal tender is defined as:

    • bank notes issued by the Bank of Canada under the Bank of Canada Act
    • coins issued under the Royal Canadian Mint Act

    Digital currencies are not supported by any government or central authority, such as the Bank of Canada.


    Financial institutions, such as banks or credit unions, don't manage or oversee digital currency.

    Automated exchangers (Bitcoin ATMs)

    Automated exchangers are commonly referred to as Bitcoin ATMs. They are vending machines that allow you to insert cash in exchange for bitcoins, and in some cases bitcoins for cash.


    Unlike traditional ATMs, they are not connected to your bank, credit union or the Interac network. You may be charged a transaction fee for using a Bitcoin ATM. Shop around as exchange fees vary and you may be able to get lower rates elsewhere.

    Generally, when you use a Bitcoin ATM, the machine:

    • reads the bills you insert
    • converts the amount into an amount of bitcoins
    • sends the equivalent of bitcoins to the Bitcoin address you enter

    How tax rules apply to digital currency


    Tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from Canadian tax obligations.

    This means digital currencies are subject to the Income Tax Act.

    Buying goods or services using digital currency

    Goods purchased using digital currency must be included in the seller’s income for tax purposes. GST/HST also applies on the fair market value of any goods or services you buy using digital currency.

    Buying and selling digital currency like a commodity


    When you file your taxes you must report any gains or losses from selling or buying digital currencies.


    Digital currencies are considered a commodity and are subject to the barter rules of the Income Tax Act. Not reporting income from such transactions is illegal.

    Learn more about the Canada Revenue Agency’s reporting requirements for digital currencies.

    Risks of using digital currency

    Using digital currency has certain risks.

    You may have fewer protections


    You may not have access to a complaint-handling process like you would with other payment methods, such as debit and credit cards.

    Even if you use a wallet provider to help you manage your digital currency, the provider does not have to help you get your funds back if something goes wrong with your transaction.

    Your deposit is not insured

    It's your responsibility to protect your digital currency wallet.

    Federal or provincial deposit insurance plans don't cover digital currency.

    For example, the Canada Deposit Insurance Corporation only covers eligible deposits in Canadian dollars at member financial institutions if the institution fails.

    If the currency exchange or wallet provider that has your digital currency fails or goes bankrupt, your funds won't be protected.

    Your investment may be high risk

    Digital currencies can be risky investments because their value can change quickly. The value of a digital currency can increase or decrease over a very short period of time. Such changes in value can be difficult to predict.

    When you exchange your digital currency for traditional currency, such as the Canadian dollar, it may be worth less than when you bought it.

    You may have a hard time exchanging your digital currency

    Digital currencies can be difficult to buy and use. You may not be able to exchange them easily for cash or to purchase goods and services.

    Merchants don't have to accept digital currencies as payment. They don't have to exchange digital currencies for traditional currencies, such as the Canadian dollar.

    You may be exposed to fraud

    Digital currencies may be vulnerable to fraud, theft and hackers.

    All transactions are recorded to a public ledger or “blockchain”. The blockchain may include information such as transaction amounts, wallet addresses and the public keys of the sender and recipient.

    Digital currencies are also sometimes used to support illegal activities.

    Transactions are not reversible

    Purchases and transactions made with digital currencies are not reversible. This means:

    • you can’t reverse the charges if you didn’t receive the product
    • you can’t get your money back unless the seller agrees
    • you might not be able to stop a payment

    Tips for using digital currency

    Here are a few tips to help you protect yourself when using digital currency.

    Protect your wallet

    Take steps to protect your wallet:

    • keep your wallet, and any backups, in a safe place
    • encrypt your wallet using encryption software
    • encrypt any copies you make or online backups
    • set a password to help prevent thieves from withdrawing your funds
    • use a strong password that contains letters, numbers and symbols

    Know the merchant’s refund, return and dispute policies

    Before you make a purchase, find out:

    • what the exchange rate will be
    • if refunds are available
    • if refunds will be processed in digital currency, Canadian dollars or store credit
    • how to contact someone if there’s a problem

    Wait for multiple confirmations before completing a transaction

    It can take 10 minutes or more for a digital currency transaction to be confirmed. Confirmation happens when users on the network verify the transaction. During that time, a transaction could be reversed and you could lose your funds to a dishonest user.

    Understand what the actual costs will be

    Find out if there are any mark-ups or other fees. Find out what will happen if the rate changes before the exchange is completed.

    Think about the future

    Consider what will happen if you fall ill or die and can no longer access your wallet.

    If no one knows the locations and passwords of your wallets when you are gone, the funds can’t be recovered.

    Consider having a backup plan for your peers and family.



    https://www.canada.ca/en/financial-consumer-agency/services/payment/digital-currency.html
  • Taxes on Bitcoin

    The only OFFICIAL info is here:
    https://www.canada.ca/en/financial-consumer-agency/services/payment/digital-currency.html


    Buying and selling digital currency like a commodity

    When you file your taxes you must report any gains or losses from selling or buying digital currencies.

    Digital currencies are considered a commodity and are subject to the barter rules of the Income Tax Act. Not reporting income from such transactions is illegal.

    Learn more about the Canada Revenue Agency’s reporting requirements for digital currencies.​
    https://www.canada.ca/en/revenue-agency/news/newsroom/fact-sheets/fact-sheets-2013/what-you-should-know-about-digital-currency.html


    No one on the forum will give you the proper answer better then Canada Revenue or a trained accountant who reviews the info from them. Anything else and you do so at your own risk.
  • How do you deposit CAD to your QuadrigaCX account?

    @1HUNDRED i agree with @testman for the amount you are looking to fund into QCX, Interac Online is very quick (I use it almost every day now). You don't need to wait for days, your account will be funded in a few hours (at first) and then instantly (at least that is my case).
    Keep in mind that your debit card cannot have the Visa Debit option on it. I've used TD and RBC debit cards to do this. Plus, for the amount you will be sending, you'll more than likely pay less. They charge 1.5% ($5 min.), i'm not sure about Desjardins, but last i sent a wire (to another exchange) it cost me $30 for $500, and it took 4 business days.
  • QuadrigaCX wire transfer issue

    Agreed. The new wire info was super fast!
  • QuadrigaCX wire transfer issue

    @QCXDuane have to say i am very happy with the new wire info. I just sent one today and hope all goes smoothly. I love QCX, you guys are awesome! Your site is also very well built and very quick, excellent for trading.
  • QuadrigaCX wire transfer issue

    @QCXDuane have to say i am very happy with the new wire info. I just sent one today and hope all goes smoothly. I love QCX, you guys are awesome! Your site is also very well built and very quick, excellent for trading.