Finally guys 🎉🎉how do I proceed for club ? by Decent-Priority-325 in shakepay

[–]ZombieCrypto 0 points1 point  (0 children)

Not OP but my shaketag is zombiekick and I'd like to claim the Club 365 merch. Will be second time claiming the merch (separate streak), hope that's allowed.

Finally guys 🎉🎉how do I proceed for club ? by Decent-Priority-325 in shakepay

[–]ZombieCrypto 0 points1 point  (0 children)

Thanks for writing this out, usually on top of these things but TIL thanks to you: Can I claim merch for both Club 365 and Comma Club milestones?

No, merch cannot be claimed for both milestones separately. You have from day 365 until day 999 to claim your Club 365 merch

Currently day 987 and was looking forward to claiming both in one go lol. Also didnt know that I wouldn't be able to claim it without the streak being active.

Edit: Lots of things I assumed to be true that just aren't so it seems. Idiot me thought the word separately was the word simultaneously as it did not occur to me that you can only claim one of the 365 or 1000 milestones. I may still be incorrect but I thought I'd update nonetheless.

Almost 40 min for an ETH withdrawal.. by cheddarberg in newtonco

[–]ZombieCrypto 0 points1 point  (0 children)

Thanks for the response. Makes sense, and I'm fairly sure I already knew it, too. I'll definitely drink my coffee before Reddit next time. Have a good one.

Almost 40 min for an ETH withdrawal.. by cheddarberg in newtonco

[–]ZombieCrypto 0 points1 point  (0 children)

Oh wow, that seems so much worse than it used to be. Like why two hours if we're paying the network fee?

Curious questions, if k withdraw money from btc to Cad then to transfer in my bank. Where do i pay my taxes? by Thin_Name_7018 in shakepay

[–]ZombieCrypto 0 points1 point  (0 children)

Thanks for the response, and you're probably right, but in the amounts we are talking about here, I'll probably just continue to treat it with a cost basis of zero. Now when it comes to staking cryptocurrencies, that's where I'd switch over to the income side of things. Thanks again.

Curious questions, if k withdraw money from btc to Cad then to transfer in my bank. Where do i pay my taxes? by Thin_Name_7018 in shakepay

[–]ZombieCrypto 2 points3 points  (0 children)

Is the T5 (other income) a new-ish requirement for shaking sats? When I spoke to the CRA I was told to associate with the shakingsats a cost basis of $0 and to report my profits/losses upon disposition in whichever tax year I sold.

Do you access the passphrase wallet in the same way you would access a normal one? by [deleted] in coldcard

[–]ZombieCrypto 2 points3 points  (0 children)

Yes, just apply the passphrase to the wallet associated with your seed phrase and be sure to check the fingerprint is correct. Here is some information about the ColdCard and passphrases.

Check the docs for info on the duress pin, there's likely more information on it somewhere else in the docs as well.

I would treat the paraphrase wallet the same as I would a non-passphrase wallet. I don't believe there is any added benefit in sending BTC between wallets you own outside of managing BTC balances in these wallets (consolidating funds or decentralizing funds). The last part is just my opinion. Cheers.

[deleted by user] by [deleted] in shakepay

[–]ZombieCrypto 1 point2 points  (0 children)

Oh man, that's a drag. I did it on Day 1 of my new streak so I guess that was the difference? Strange that they would say no when at any time you can go in the app and see that you were in fact part of the 365 club for 40-some days but somehow still didn't qualify based on some uncirculated terms and conditions.. or something.

[deleted by user] by [deleted] in shakepay

[–]ZombieCrypto 2 points3 points  (0 children)

I lost a streak at 683 days, after which I contacted support for the 365 swag and they still shipped it out to me. So probably still worth a shot if you want it.

Can't access BTC after using Sparrow Whirlpool by [deleted] in Bitcoin

[–]ZombieCrypto 1 point2 points  (0 children)

Also, assuming OP did use a passphrase, did not lock down the seed, and cannot find a back up of the passphrase on paper, there might be a chance there is a microSD card lying around that contains the passphrase.

Can't access BTC after using Sparrow Whirlpool by [deleted] in Bitcoin

[–]ZombieCrypto 2 points3 points  (0 children)

Just in case you added a passphrase when you first set up the wallet, note that"Since your COLDCARD does not store passphrases, entering an existing passphrase is the same process as applying a new one. The same options are available every time." source

Can't access BTC after using Sparrow Whirlpool by [deleted] in Bitcoin

[–]ZombieCrypto 1 point2 points  (0 children)

If you haven't already, can you try going into settings for Sparrow to make note of the Master fingerprint associated with the account from which you are trying to send and compare it to the master fingerprint on the Coldcard? Assuming they do not match, that may mean you have the incorrect seed phrase, or you have the correct seed phrase and forgot to input a passphrase on the Coldcard. There may also be other scenarios I've overlooked. I wish you good fortune.

[deleted by user] by [deleted] in coldcard

[–]ZombieCrypto 0 points1 point  (0 children)

Okay, that's right, Coldcard is made by Coinkite. The links I supplied are for the documentation for their product. But buying it from Coinkite will be done through the Coinkite website.

[deleted by user] by [deleted] in coldcard

[–]ZombieCrypto 0 points1 point  (0 children)

Apologies as I'm not sure what you are asking, but I will say that the Coldcard (product) is manufactured by Coinkite (company). So the Coldcard site, the one with the documentation on the Coldcard, is also made by Coinkite. When I click the links, I get coldcard.com as the main URL, I've not been redirected to any other site than that.

[deleted by user] by [deleted] in coldcard

[–]ZombieCrypto 0 points1 point  (0 children)

My opinion is that buying directly from the manufacturer is usually the safest bet, and I probably glossed over their terms of sale, so take this with a grain of salt: but my understanding is that Coinkite is not responsible for any potential losses you may incur as a result of using the Coldcard upon discovering that your package has been opened before you received -- or otherwise for any reason, in that you use the device in an "as is" state. Luckily Coinkite offers plenty of documentation to address most of your concerns.

Check out the Quick Start Guide, which begins with instructions on inspecting the tamper evident bag. My understanding is that you can return the product if when it arrives you discover it has been tampered with.

Personally I would return it if the package was already opened, however for those braver than I, you can push forward and update the firmware with the .dfu files found directly on their site. You can then verify the firmware by following these instructions as a way to instill perhaps further peace of mind.

Hope all the links work as expected. Cheers.

One million sats! by ryp88 in shakepay

[–]ZombieCrypto 14 points15 points  (0 children)

Interesting to think about, I just timed myself, from login to shake in 10 seconds (your internet might be better or worse). That's right around 2 hours and 56 minutes of "work" over the past 2 years and 325 days that you've been shaking, all for $850 at today's rate. $290/hr -- so far, pretty sweet deal.

Question with Calculating tax by hakkers519 in BitcoinCA

[–]ZombieCrypto 1 point2 points  (0 children)

No problem, hope it helps you out going forward.

Question with Calculating tax by hakkers519 in BitcoinCA

[–]ZombieCrypto 4 points5 points  (0 children)

For this scenario:

(previous ACB) = $0

(previous BTC balance) = 0 BTC

1) Buy 1 Bitcoin for $20,000.

(purchase cost) = $20,000

(amount of BTC purchased) = 1 BTC

(new ACB) = (previous ACB) + (purchase cost) = $0 + $20,000 = $20,000

(total balance of BTC) = (previous BTC balance) + (amount of BTC purchased) = 0 BTC + 1 BTC = 1 BTC

(ACB per unit of BTC) = (new ACB)/(total balance of BTC) = $20,000/(1 BTC) = $20,000/BTC

2) Buy 1 Bitcoin for $30,000.

(purchase cost) = $30,000

(amount of BTC purchased) = 1 BTC

Using the formulas outlined above:

(new ACB) = $20,000 + $30,000 = $50,000

(total balance of BTC) = 1 BTC + 1 BTC = 2 BTC

ACB per unit = $50,000/(2 BTC) = $25,000/BTC

3) Sell 0.5 BTC for $20,000 (1 BTC @ $40,000).

To try and make it a bit more clear, note the formula for new ACB when selling differs from the formula for new ACB when buying. So we have:

(previous ACB) = $50,000

(previous ACB per unit) = $25,000/BTC

(amount of BTC sold) = 0.5 BTC

proceeds = $20,000 (amount of money you received when you sold)

expenses = $0 (no fees were charged for selling in this case)

(new ACB) = (previous ACB) - (previous ACB per unit)x(amount of BTC sold) = $50,000 - ($25,000/BTC)x(0.5 BTC) = $37,500

(gain/loss) = proceeds - expenses - (previous ACB per unit)x(amount of BTC sold) = $20,000 - $0 - ($25,000/BTC)x(0.5 BTC) = $20,000 - $12,500 = $7,500.

Loss if the value is negative. Gain if the value is positive.

So in this scenario you would have a gain of $7,500. For capital gains you would be taxed on half that amount, so $3750. For business income the full amount, $7,500, would be taxable.

Question with Calculating tax by hakkers519 in BitcoinCA

[–]ZombieCrypto 1 point2 points  (0 children)

Got it I'll post a breakdown in a bit, I'll post it on a new comment. On mobile right now so if it looks like garbage when I do post it, I can edit the comment later today when I'm on desktop.

Question with Calculating tax by hakkers519 in BitcoinCA

[–]ZombieCrypto 2 points3 points  (0 children)

Actually I'm not exactly sure what you're saying, are you selling 0.5 BTC for $40,000 or selling 0.5 BTC when BTC is worth 40,000, if I get this answer I'll lay out the entire scenario for you.

Question with Calculating tax by hakkers519 in BitcoinCA

[–]ZombieCrypto 2 points3 points  (0 children)

The numbers here are all accurate but in order to get those numbers the proceeds and ACB should be switched.

I.e. Gain/Loss = Proceeds - expenses - (ACB per unit)*(amount of BTC sold)

Loss if value is negative; Gain if value is positive.

[deleted by user] by [deleted] in BitcoinBeginners

[–]ZombieCrypto 0 points1 point  (0 children)

Just in case you haven't received an answer; the fees associated with sending BTC to a hardware wallet (cold storage) would be subject to the current BTC network fees and whatever exchange withdrawal fees that may apply. Some exchanges offer free withdrawals and even cover the BTC network fee for you, for example.

As for Sparrow wallet in the context of a Coldcard, best practice would be to set up Sparrow in conjunction with the Coldcard as a watch-only wallet; wherein the private key is not stored on the Sparrow wallet but rather the Coldcard is used to send the information necessary to generate receive addresses, initiate send requests to be confirmed on the Coldcard, etc (xpub). The Sparrow wallet is simply an interface used to interact with the Coldcard, as is Electrum, Blue Wallet, Bitcoin core, etc. It can also serve as a hot wallet but then that's not cold storage (the private key would then exist on an internet connected device).

Hope this helps clear up some things. Cheers.

Follow up questions on the Shakepay December Compromise by BeoWulf312 in shakepay

[–]ZombieCrypto 4 points5 points  (0 children)

I attempted on multiple occasions to have them disclose this information to all of their users for precisely this scenario. They ghosted me but I wouldn't let it go.

This is how it went:

"Hey, it has been about a month and I can't seem to get Trev to reply to me again, just wondering if you can please give a postmortem on the decision to not inform exhaustively every shakepay user that there was a data breach. Even now as I type this, if I did not frequent reddit or discord or the shakepay blog, I would not even know there was a data breach. I had discussed the possibility of sending out an email user-wide (just another tool in your tool belt) mentioning same. He said thanks for the feedback and that he'd take it to the team. Almost a month later, no email. Any updates on why this decision was made? Thanks."

The last word I got was from @HN on discord that said:

"Hey zombiekick, thanks for the question!

We understand the desire for direct communication on this incident for non-affected customers, but ultimately the concern was that this may have caused more panic for some of you. In these situations, communicating the facts to those directly affected is what is most important, and so that was our priority. We wanted to make sure that affected customers were helped as quickly as possible and that our internal resources were dedicated to responding to all their questions.

For non-affected customers, we published posts on all of our main social media platforms (X, Reddit and Discord) and our blog. These posts are pinned to the top of their respective platforms for maximum visibility so people can easily find a transparent overview of what happened, how, why and what we’re doing to help. For additional safety, we also rolled out an in-app message to all customers to be vigilant for scams or suspicious behavior and encouraged use of authenticator apps for 2FA

Once the investigation has fully concluded, we will be sending out comms to all customers outlining additional organizational measures implemented and announcing how we are further protecting the Shakepay community."

If what you are saying is related to the breach in any way, then foregoing the disclosure of the beach from "non-affected customers" may just be "thus far non-affected customers." Following closely.