I think Fed won't do this because it would become one additional trouble for them because then they would need to scrutinize every bitcoin transaction like any other forex transaction which is certainly impossible. I think until there is pressure from the Government to regulate the cryptocurrency market altogether, IRS or even FED on a standalone basis really won't do this.
So who can modify the tax procedures? Like you, I do not expect Bitcoin to be accepted as a currency, but we see more people who want to buy and therefore the tax system must be modified to make profits for them. Tax procedures are modified by IRS but tax laws are ammended by the senate or the parliament of any country, for the type of modification you are taking is about making it or atleast for tax purposes treating it as a currency, this modification is in the hand of the Federal Reserve because the thing related to currencies and foreign currencies come under the gambit of federal reserve. |
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I think mene coin mania is over now. It actually lasted only at the time of bull run, now that bull run is over I don't think meme coins are going to last a long way. It was the big volumes which was giving these coins big boosts. In bear run these coins won't even be able to hit their IEO price. Moreover after what Vitalik did these meme coins actually failed terribly so we don't really need to worry about these coins.
Who knows whether it is really over. Memes are a wide field. For now it related a lot to dogs and frogs and I don't know...  But you can turn a lot of things into memes. You can turn Trump into a meme. Therefore we will see more meme coins coming, but we will probably not have another DOGE. Doge will still Doge and it can not replace by the other meme coins. The trend for meme coins already end but it could rise again as we can not predict what will happen in the future. But playing on the meme coins can tempt people to become greedy because they already make a big profit from Dogecoin and still want to make another profit from the other meme coins. But they need to wait for more to see if the meme coins will have the chance to rise. No, "meme" is a timeless term. It just depends on the social/political/economic circumstances that might lead to another meme coin. You could think of all kinds of events in the whole world and if then somebody starts a coin that in a certain sense relates to that event, you get really close to already call it a meme coin. Meme coins are not necessarily only about dogs or other animals. Meme might be a timeless term but meme coins aren't timeless once people lose a lot of money in them most of the people will become aware about how these coins are just fake and Don't provide any real value just like the idiotic ICOs went down the drain. But yes there would be another such thing which would definitely take away the money of innocent investors again. There are many sharp brains who know how to make money from idiots. |
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With other countries seriously considering this direction, the EU has finally start its Digital Euro (CBDC) project. It will take them 2 years to explore the potential of such a currency, and if they decide to actually apply it, they say it would take them at least 5 years to officially launch it. As an EU resident, I am not particularly excited about this, because I know that it will take them much more than 5 years to do anything, and all that time will come in handy for Bitcoin to become more mainstream in EU. What interests me more is whether the EU will at some point start making some bad moves when it comes to Bitcoin or stablecoins, which they obviously consider competition (although they don't explicitly mention Bitcoin). Of course, this reasoning stems from the assumption that China decided to conduct a final battle with Bitcoin precisely because of its CBDC, which is already being tested on a large sample of people. Today the Governing Council of the European Central Bank (ECB) decided to proceed with a 24-month central bank digital currency (CBDC) project to investigate the potential of a digital euro. Even if it decides to go ahead with a digital euro, the ECB President has previously stated it would take five years to launch.
While no decision has yet been made whether to issue a digital currency, the ECB and European national central banks have outlined several motivations over the last year or more. The first, as Lagarde stated, is to ensure that as cash usage declines, there is still central bank money but in a digital form. Without a CBDC, theres a risk that private digital currencies, including stablecoins, will dominate, and they still might. Such a scenario would make it harder for the central bank to control monetary policy, maintain financial stability, ensure low cost payments and enable financial inclusion.
If the main intention behind the CDBC project is the idea that it's better to have a government-regulated cryptocurrency than a private cryptocurrency then I think it's better if there are no CDBC in near future. I don't think it's too positive for bitcoin because what governments want to do using this is to provide an alternate cryptocurrency to the user which they could use for their transaction and enjoy the benefits of cryptos but at the same time, it will be absolutely centralized. Chances are governments might decide to ban these cryptocurrencies after they have brought their CDBC, or make it a gateway currency, that nobody can buy any other crypto unless he buys the CDBC and other cryptos can be brought only through CDBC, this would make user identification from them pretty easier. |
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Tesla has accepted Bitcoin, and we note that some banks are talking that more customers want Bitcoin, so if many companies accept Bitcoin, will every purchase or sale be taxed?
I do not think that companies will be imposing such taxes on them, otherwise they will accept payments in cryptocurrencies, especially for small transactions.
Do you expect the IRS to adjust the way taxes are calculated if we see more predictions or classification of Bitcoin as a currency rather than a commodity?
IRS cannot do anything. For IRS to accept bitcoin as a currency, the Federal Reserve needs to step in and say that yes bitcoin is a currency but then as it is a currency it will be monitored by the Fed too. Also, I think Fed won't do this because it would become one additional trouble for them because then they would need to scrutinize every bitcoin transaction like any other forex transaction which is certainly impossible. I think until there is pressure from the Government to regulate the cryptocurrency market altogether, IRS or even FED on a standalone basis really won't do this. |
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If there's an electro magnetic wave that takes the whole world back in time to beginning of Bitcoin invention and other cryptocurrencies. Armed with the knowledge you have now as one who is back from the future, how much Bitcoin would you buy for a start, and what other cryptocurrencies would you invest in?
Which mistakes did you formerly make with bitcoin and cryptocurrency that you will not want repeating itself?
I will, first of all, find that guy who took bitcoin in return for pizza and would buy bitcoin from him at the price of pizzas. Obviously, when I am certain that the price of this cryptocurrency is going to boom in the coming years I would put every penny into such a coin, after earning good profits in bitcoin till 2016, I'll move to Ether which showed a similar sort of growth as bitcoin and then will obviously move to newer currencies like Cardano, haha, unfortunately, this can't be true. I think if you ask people their mistake in the cryptocurrency world 95% of them would say not entering at the right time is their biggest mistake and perhaps everyone thinks that if they would have entered a couple of years earlier things would have been different. |
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I live in Sacramento CA. Im looking for someone that I can connect with and help me stake some of my savings. What i mean by help me is make sure I am transfering money from KuCoin to Cake and make sure Im doing this correctly as I dont want to lose money. I have a variety of coins....btc, eth, ada, matic, chain, etc.
I have watched well over 50 videos and I see staking Cake or Hydra or what ever and the APR. When I plug in the numbers at staking $100K in Cake for example this is what I get:
Invest $100,000 at $12.77 per CAKE
Total Reward Rate: 68.53%
Est Monthly Earnings: $5,632.93 or 438.36965 CAKE
Est yearly: $68,534.03 or 5,333 Cake
So you mean to tell me that if I took out a loan from my bank at $100K at 4% APR my monthly payment would be approximately $459/month BUT I will make $5632.93 per month.
So a passive income of $5,583.93!!!!!
This is one of those situations that asks...........is this to good to be true.
Am I missing something?
~snip~
Absolutely yes, the biggest thing you are missing here is price fluctuations. Who told you that cake would remain $12.77 forever? Also, the return or the APR isn't constant too, it too varies a lot with time. But the biggest concern is that what if the price of the cake falls to $2 and never gets back up to $12 or let's say does come back to $12 but after 3 years? During this time your loan installments would still be due, which means every month for repayment of $459 you will have to sell your cakes brought at $12.77 at $2. Also when you re-stake the coin at the end of the first month, chances are its APR might have fallen or increased. So basically it's a big risk you are taking, three big risks: 1. price fluctuations (The Biggest) - Think of people who thought of staking cake at $40. price is now at $12. 2. APR fluctuations So I won't recommend taking a loan for this type of investment. |
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There are three kinds of people in the Bitcoin world, idealists, opportunists and faithists. - Idealist
Many early Bitcoin participants were mostly idealists, and they hoped to get a lot of benefits through Bitcoin. But many idealists have not persisted until now. After holding the currency for a period of time, they have not seen more benefits in the currency circle. They chose to withdraw due to their own greed. - opportunist
They prefer the volatility of Bitcoin prices and find opportunities to buy Bitcoin at low prices by analyzing market price fluctuations. When they see a opportunity in the market, they want to realize the freedom of wealth quickly - Faithist
They stick to their beliefs, believe in Bitcoin, and as long as they buy Bitcoin, they are willing to bear its risk. When the price of Bitcoin falls, they will not panic the market and choose to sell, but think it is a good opportunity to buy at a low price.
I think there are more Bitcoin opportunists in the forum. What is your opinion on this? Which one do you think you are? There are not only more bitcoin opportunists on the forum but more opportunists in the world too. In every type of market and sector, you will find such sort of people and I don't really blame them for behaving in such a manner in fact they are just acting in their best interests. Many people think opportunists are evil but actually, it's the only way to survive against the big whales of the market who too behave in such a manner only. Faithist, on the other hand, suffer but sometimes earn too, for example, a faithist who believes in bitcoin or some utility coin will surely strive but a faithist who believes Shiba Inu is the coin of the future is actually digging his own grave. Blind faith is always a bad thing. |
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Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.
No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.
A very important thing that you said here was they think of manipulating the market. It's actually true, this is why a newbie never exits a losing trade, they think that they are right and the market is just being slightly wrong and would ultimately correct, while a pro trader would just flow where the market takes it, momentum trading is honestly the best type of trading, you don't try to enter at the bottom and exit at the top but just to make a good profit out of each trade and get sound sleep, if the trade fails to take a loss and still get a sound sleep. And yes consistency is the key in almost everything, People take 3-4 years of experience in their jobs to become an expert but except to become experts in trading in the very first year. |
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Robert kiyosaki said on his youtube channel ( The Rich Dad Channel) "this is real financial education, what they don't teach you in school...so there's three kinds of people in the world when it comes to money, there's an investor, a trader, and a speculator"- INVESTOR = an investor puts capital to use for long-term profit. - TRADER = a trader seeks to make short-term profits by buying and selling over and over again. - SPECULATOR = a speculator just gambles and hopes that other parties will dare to pay higher his/her tokens or coins later. i'm an investor, not very trading savvy, just buy Bitcoin and some Altcoins for long-term. How about you friend? Normally a person who enters the market enters as a trader/ speculato with hot blood and high hopes thinking that he can defeat the market. Such a person makes huge profits in the bull run and thinks that he is imminent and there is no better trader than him but then there is a bear run in which he loses almost everything he earned during the bull run and decides to become an Investor or a long term Investor, then comes the bull run again and the same cycle gets repeated again. I think 70% of people here would agree that once in their life they have been this kind of a person. |
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So this basically means now the adoption of bitcoin will actually become the reason for its easy user traceability. If any big website like Amazon starts to accept bitcoin as a mode of payment and people decide to use bitcoin for their payments we basically are providing an identity for the government to tether with that bitcoin address for lifetime. Any incoming or outgoing transaction on that address would be considered as your Income and Expenditure. In a way it's good as dirty money could be curbed and it would be easier to accept such a thing but really hampers the reason why most people use Bitcoin in the first place. Also if EU does this, which is considered as the union which focuses a lot of cyber privacy, passing such amendments in American and Asian countries would be much easier. |
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I think mene coin mania is over now. It actually lasted only at the time of bull run, now that bull run is over I don't think meme coins are going to last a long way. It was the big volumes which was giving these coins big boosts. In bear run these coins won't even be able to hit their IEO price. Moreover after what Vitalik did these meme coins actually failed terribly so we don't really need to worry about these coins.
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Since Bitcoin was created, the Bitcoin network has been operating normally, and neither the government nor the regulators can stop the development of Bitcoin. The reason why Bitcoin can become a valuable cryptocurrency is largely due to its anti-censorship characteristics through decentralization. Every blockchain that emerged afterwards also started with a high degree of centralization. Although its creators intend to improve this as soon as possible, unlike Bitcoin, it is difficult for most blockchains to make substantial progress in decentralization.
Bitcoin has the most nodes running in the world and there is no central authority to distribute it. Bitcoin the most decentralized cryptocurrency?
This is entirely untrue. Bitcoin infact isn't that much centralized. One reason is that due to big pools coming into picture a two to three mining companies control a lot of mining power of Bitcoin which means 51% attack which we think is impossible, isn't entirely impossible if these major pools decide to cartel. Infact some other Cryptos like Tezos and IOTA are much more decentralised as they are based on PoS with quite equitable distribution of the stakes. Pos coins are much more decentralized but yes not an optimal solution. |
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I have developed a project https://github.com/peroksid90/crypto_calculatorto compare mining vs holding. Contributions and comments are welcome. For example, you have 2500 $. You can buy a miner or just invest this money to BTC. Which is better in the long run?  So at the end we see: the worst case: do mining and sell mined profit every day (red line) (7300$) the better: just buy and hold (olive line) (8200 $) the best: do mining and don't sell. (magenta) (12500 $) magenta and red doesn't include the miner market price. So actually we should add it to the profit, because the equipment price is also rise(even used). A better option than both is staking. If you stake in the bearish phase of the market and continue staking till the bull run, there is no better investment option than staking any coin. Also unlike mining staking requires no space therefore you just need the wallet or staking can even be done with exchanges these days which makes it even easier. Many coins give around 20-30% yield per year which is pretty good if combined with price movements. |
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The world has been depending on burning fossil fuels for energy, throughout all these years. With dependence on fossil fuels, soon enough these finite materials will be depleted. Not only that, but it also has adverse effects for the environment, everything from air to ocean and land pollution.
Fossil fuels include, coil, oil and natural gas, with the latter being cleaner that oil and coal in terms of emissions. Let's also keep in mind how strenuous of a process it is to extract oil, promoting environmental disasters.
Most common renewable energy sources include, solar energy, wind energy, hydro energy, tidal energy and a few others.
The big question here is, can the world be 100% dependent on renewable energy sources? How can that be achieved and are they sustainable?
I think the only way this goal can be achieved is solar energy. solar is really the only real unlimited energy which we are really wasting. Also there are very minimal effects on the nature if we use this energy. Infact if solar energy is used on Massive scale it could even result in reduction of global warming altogether. And I am pretty much sure that we will be using methods to use this energy the most. Home solar panels are already the new cool where everyone is focused on making this one time investment, sooner or later we could be self sufficient in our power needs. |
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~snip~
I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses. ~snip~ ~snip~ It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ainīt got any, you ainīt gonna invest". (I admit you could argue that you can borrow but still nobody ainīt lending ya if you ainīt gonna givvet baksh).
The basic concepts that will save you a 15 bucks book:
- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.
And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...
I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses. I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects. I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds. I think your problem is diversification. Don't just invest in new project, create a mixed portfolio of cryptocurrencies, stocks even some bonds to hedge your portfolio, see the truth is even with cryptos taking over the stock market isn't going anywhere and is much less volatile than cryptos, so a certain set of investment should go there to make sure that you don't burn a lot of your money in new projects because those are really risky and you might never even get your investment back from them. In such projects, a person should not invest beyond 10% of his total assets. It's highly risky, you are taking a big risk for the return involved. I've also found it wrong that when investing into DeFi projects, I placed all my money in one specific vault. Looking back now, it was risky and inconsiderate, since algorithmic stablecoins weren't 100% safe, of course. After their crash, I was extremely cautious and would only invest in lower risk vaults, (with a lower reward of course too). On the other hand, DeFi and crypto is my only investing experience, I never had anything to do with bonds or stocks in the past. This is also a big mistake which many users make, never store all your assets on one crypto exchange. These exchanges are shady and can turn into a scam any day, especially until there is any regulation on them one should keep all their money in one exchange. Keeping them in unpopular wallets is even more risky. |
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The scientists are arguing whether the Universe will ultimately collapse into one huge badass black hole (so-called Big Crunch) or explode into nothingness (so-called Big Rip). The Big Rip event essentially means that all the matter of the Universe including stars, atoms and elementary particles as well as spacetime itself will be ripped apart by the expanding Universe in a distant future The Big Crunch in respect to Bitcoin would mean accumulating all bitcoins in a few or just one pair of hands, but this is not very likely to happen, so the Big Rip seems to be more probable as we see with the price skyrocketing right now. Given the Bitcoin infinite divisibility, the Big Rip of Bitcoin would mean the price per 1 BTC shooting through the roof, moon and farther into the depths of the Universe, which would completely dissolve the coin and all its 21M units in the financial spacetime... So how likely is this, and what is your understanding of how things might unfold in real life? Both of them are unlikely, bitcoin is merely a new currency which basically is maths not a cosmic object that it would behave the way the universe is working. I am pretty sure concentration in bitcoin in one hand is certainly impossible, and price skyrocketing has more or less already happened, imagining hypothetical numbers is good but $60k per bitcoin isn't really less. It's better if we quantify the expected value of Bitcoin in form of maths rather than shooting up roof, moons and stars which make absolutely no sense. |
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It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.
A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.
Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.
A very valid point I have to agree, Trading requires constant learning, it's just like any other business, you are operating in a very dynamic environment where variables around you are changing every day, if you are able to make a habit of continuous learning about these variables, only then you can actually win at trading, otherwise, even a monkey would be able to make excellent returns in a bull run market because the price of almost each and everything is shooting up. I feel it's not just about new indicators and new strategies, it's also about learning from your experiences, especially the losses that you made. These could be really helpful in tweaking your strategies. |
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Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
Maybe Yes, Maybe No! Crypto is pretty different from stock markets actually. You see we are already 60% down from the all-time high, for some people, This is a big crash in itself also if you look at this in terms of the stock market it looks huge, and therefore a big crash might have already happened. And what happened after the 2000 and 2008 crash was just that the boom of things ended, we know that .com companies still enjoy the highest valuations, and mortgage-backed securities still exist. So crypto would go on too after this kind of crisis it's just that these shady currencies like Shiba Inu created as a joke would be no more existing in the market. |
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If this happens this will be much much bigger than El Salvador. The reason behind that is El Salvador didn't had any of it's own currency, people there used US dollar to transact with each other and government had made USD the legal tender so making bitcoin a legal tender for them wasn't a big deal as they were already not printing their own currency. But Paraguay has their own currency called Paraguayan guaraní which they print themselves if they decide to adopt bitcoin as the second legal tender it will be big because a country is even ready to forgo it's own legal tender to adopt bitcoin is something actually huge. Let's see how things unfold in Paraguay. |
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Hello everyone. This is my first time posting a thread here. I have been trading for already 2 mos. But still learning a lot and building my overall trading strategy. I encountered this "defensive trading strategy" term from a post in one of the social media platform. I tried searching for it in the web but haven't seen anything. I am planning to add this to my overall trading strategy. How do i execute a defensive trading strategy? What indicators do I need for it? How can i determine the entries and stop losses on such trading strategy I would really appreciate those people who will enlighten me regarding this strategy. 192.168.0.1 routerlogin 192.168.l.lThere is no single such strategy. Defensive strategy is a strategy where your risk reward is more than 2:1 and the probability of your trading being positive comes out atleast 70% in back testing. One such strategy is buying the dips. Yes this may sound very idiotic and novice but it's a good strategy. If the current market sentiment is bullish and you see signs of some early bearishness, like a bearish divergence on RSI or price action showing bearish signs, instead of shorting, place a buy order at the recent support and just forget about it. If the market falls swiftly your buy order will be struck but when market recovers back you will be able to sell it at profit. But if the market is falling slowly, take out your order and put it on next support because chances are it'll not retrace quickly in such situations. Similarly when market sentiment is bearish, keep your shorts on the next resistance and do the same thing on shorting side. This is a good defensive strategy and you don't need to have a big stop loss because you are buying/ selling at support and resistances. |
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