This is good sign for ETH. ETH breaks the resistance area after multiple attempts. The next resistance area for ETH is now $2440 and $2600 area. We may see a retest of $2270-$2290 before going higher.
I don't see a lot of bullish signs in the markets as of now. Even a slightest of green move is met by a lot of sellers and leads to red candles. I think unless BTC crosses 40K area. I don't think alts will get any volume. If you compare the current scenario of market with April volumes have gone so down. To pump the price back up by that much there needs to be a hell lot of volume in the market. Eth isn't even getting 30% volumes of what it was getting at around all time high. |
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Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK. UK BAN ON BINANCEUK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency. In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out.   Obviously regulations, Binance more or less is unregulated and I am sure a lot of black money revolves in Binance, Binance pretty much set straight the US regulations after making a separate exchange for US. But now other countries are starting to crack up on Binance too. I think slowly Binance will have to comply with every country's regulation. |
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Due to pandemic, there’s lockdown going on here. People are more likely to withdraw fund from Bank while rate of deposit is decreasing now. On a side note, default loan has been alarming here.
I was looking for cash out BDT from mobile banking but I had to look for a long area to find out a mobile banking agent. I felt like I should cash out more money than I need for now because it’s possible that there will be no agent opening their shop.
The same will also happen with the banking system if situation get severe which possibly will be soon. And if the lockdown continues for months, won't bank have hard time maintaining deposit and withdraw?
What do you think? Is it possible that if lockdown continues, banking system will collapse here?
Government banks generally don't collapse because government is always there to bail them out. They will just increase the fiscal deficit and thereby pumping additional money into the bank. So even if you withdraw everything in cash chances are that you will still feel a lot of heat if any such thing happens. In India too a lot of banks are facing this issue. Infact government did bailed out couple of banks in last one year even one private bank. Moreover Bangladesh's economy has been quite strong from a few years so I think they will be able to handle it nicely. |
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Help a newbie out. Banks and governments have enormous motivation to crush Bitcoin, they can't, but can't they put pressure on trading platforms?
I ask because I just learned some alt-right guy, Milo somebody was kicked off of Coinbase.
Can't the Govt/corporations just get creative and pressure exchanges to deplatform people ?
Or demand more transparency to guard against criminal activity or whatever.
Sure, you have a wallet, and can buy and receive BTC, but you can't legally buy it.
I'm in NY, we only have like 4 legal platforms to buy BTC from ! Seems incredibly fragile....and introduces all the centralized trust issues BTC was supposed to do away with !
Sure, you could get a VPN & use another exchange but this comes with it's own risks, and is too much trouble for the average Joe.
More than legal it's a political question now. Actually, most of the countries have now realized the opportunities that blockchain has created for the people and revenues that it can generate if properly utilized. Now the first-world countries are taking this as an opportunity to attract startups into their countries. Now if a country that claims to be modern in terms of technology bans bitcoin, every tech company would be skeptical about their future in such a country, therefore, hampering the overall politics of that country. This is a very big reason why most of the countries are not able to give an outright ban to bitcoin especially the democracies. This can be done theoretically but will never be done practically. |
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I see a lot of issues circulating on social media about the fall of bitcoin, some think this is a big investor control, some think this is a factor influencing negative issues, so bitcoin plummets.
what do you think about this, so we can all fix it?
if bitcoin falls because of negative issues, let's get rid of those issues, so that bitcoin bounces back.
Fall of Bitcoin? Seriously? If you were walking up the stairs of a 40 storey building and reach to the 30th storey but come back down to 27th to get some water will it be called fall of Saltomanx1x?? The market phenomenon works this way for almost every share and commodity too, there is a bull run which is followed by a sideways market and then a bear run after which the market consolidates again and starts picking up towards bull run. Every single person who invested a year ago or before that is in enormous profits and those who have recently invested at least wait for your gestation period, why does everyone wants to get rich the very next week with cryptos? |
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A news source that immediately publishes crypto news developments. Elon tweeted, Chinese bank stopped dealing in bitcoin, FBI seizure, Taproot, El salvador...basically, everything that would cause a rise or decline in crypto prices it would report it has it happens. An app or a widget would be nice. Like a pop up notification on my phone.
I would suggest you to keep track of coindesk or cointelegraph. Generally, they would provide you all the crypto news of the day pretty concisely and clearly but yes they are not that quick so you won't be the first one to know that Elon Tweeted. For this purpose, I think Twitter serves the best. Follow the Twitter handles of coindesk and cointelegraph and better switch on the notifications therein, both these things should be more than enough for you to keep track of all the essential crypto news on a global level, there would always be some tits and bits here and there which you would always miss. |
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I just heard that SHIB gives some rewards to hold but my about 60USD SHIB was in Binance where I get no rewards, so I just decide to move it to my metamask.
The problem is that I move my SHIB from binance to metamask by using the wrong network, I used BEP20 insted of ETH network.
I just lose my SHIB??
Is there something that I can do??
Considering the amount of SHIB that you had I think even trying with Binance support won't make a lot of sense. Binance support is generally non-responsive to such queries as they receive tons of them each day and they had clearly warned users beforehand about this. You can try nagging them with a lot of emails each day about this and if you are lucky enough and they are grateful enough they might decide to look into your issue but despite that I doubt they would actually do anything. You can try following this reddit link if it matches your problem https://www.reddit.com/r/binance/comments/jz1vdj/accidentally_used_the_wrong_network_transfer/ He got his tokens back somehow. |
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At present, the market value of Bitcoin has returned to more than 46%, which is a sign that the margin ratio has decreased, the bubble has burst, and the market is accumulating power. And I think we are currently in a century-long bull market in Bitcoin. In the short term, we are in a technical bear market after a major correction. I think that meeting two conditions can determine that Bitcoin is in a bear market. 1. The price of Bitcoin must fall by about 80%, and the high point created by the bull market cannot be broken before the next cycle. 2. The lowest price in a bear market should not be lower than the highest price in the previous bull market. At the end of 2017, the highest price of Bitcoin was $20,000, and if the current maximum price of 65,000 is calculated, when the price drops by 80%, the price of Bitcoin should be $13,000. And this obviously fell below the highest price of the previous bull market. These two points can be confirmed in the Bitcoin rainbow chart： https://www.blockchaincenter.net/bitcoin-rainbow-chart/Four years have passed, unless you think that Bitcoin has not improved in the past few years, the computing power has not increased, the number of users has not increased, and the consensus has not been strengthened. Otherwise, you don't need to worry that Bitcoin will be less than $20,000. Compared with the increase in value, the current price is simply a sales promotion. The consensus on cryptocurrency is still expanding, and there emerged the first country in the world treating Bitcoin as its fiat. Bitcoin's network has withstood the impact, and the computing power of the entire network has only dropped from 160E to 120E (compared to less than 15E when it was 20,000 dollars high before the end of 2017). Bitcoin's core technology is developing steadily. One of the most significant upgrades this year, Taproot technology has been confirmed by more than 90% of miners and will be officially launched in November. Bitcoin's old friend, the Federal Reserve, is likely to continue to maintain quantitative easing. All this shows that the bull market still exists. Please be sure not to sell your Bitcoin when the price is less than 100,000 USD. I won't say this is a sign of a bull market. You see the Bull market is defined as a long run of any stock or commodity by breaking new highs each day. At this point of time BTC is stuck in flux or a range between 30k to 40k whenever it crosses above 40k the sellers kick in and whenever it tries to go below 28k the buyers kick in. So this is a sideways market trend when you see this in terms of price. But seeing this in terms of adoption, it's really a good time for bitcoin, in fact the stability of price is making it much more reputable and with countries making it legal tender it's becoming much stronger in terms of retail buy-in which means it won't be easy for whales to manipulate the market. |
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I believe that 15% is not even enough, that is just way too little. If a company still wants to handle their business in a shadowy nation, hide their wealth in panama or whatever then you have to punish them in an amount that has never seen before. Make it like 10 billion dollars for each nation they work in.
Just to give an example, lets say facebook is doing something shady and people like mark hiding their money in panama, in that assumption facebook is all over the world right? Make it 10 billion dollars for each nation they work with and it becomes nearly 150-200 billion dollars, in that case they will of course fail to pay that and it will be insanely hard to overcome that problem and continue to exist, they can still find a way but I can guarantee you that they will play nice after that and all the other nations will be afraid. The problem with big companies hiding their wealth is that no government does anything about it, give them something to fear and they will follow the rules like everyone else.
First of all, OECD was an arrangement where issues relating to tax evasions are discussed. As mentioned above by me 15% tax rate is for double tax avoidance only. These companies also have created a law relating to Notified Jurisdictional Area(NJA), in this business which interact with companies in these areas like Panama are heavily taxed, basically, the amount of tax which would have been paid by companies in NJA is recovered from business in their own countries. Secondly, I don't sometimes understand bitcoiners, on one hand, they want that bitcoin should not be taxed and therefore they would pay the least taxes to the government but on the other hand, they want Companies operating globally to pay the highest tax possible. Strange dubious behavior. |
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A global corporate tax rate of at least 15% was agreed upon by 130 countries, the Organisation for Economic Co-operation and Development (OECD) said on Thursday.
But Hungary and Ireland were part of a small group of countries that did not agree on the tax rate on multinationals.
The Irish government expressed its "broad support" for the agreement but noted its "reservation about the proposal for a global minimum effective tax rate of ‘at least 15%’ Does 15% sound like too much. Certainly not, most countries, even Ireland and perhaps except tax havens, have a higher official tax than 15%. It is a step in the right direction, however: - The problem is rarely the minimum tax, but rather the private deals of governments with large corporations to lower this to, sometimes, near zero taxes. - Countries that are less attractive for investments cannot lower their taxes. This equates to having to sell your oranges at 50 cents a pound no matter if they are ripe, large, small, juicy or dry. - Since not all countries participate, this does not address the problem of corporations setting shadow structures on these. One of the key points however is the intent of the states to charge tax where goods are consumed. This is obviously aimed at Google, Facebook, Amazon, Netflix and the like, who, until now were declaring the profits where they choose. This would look as simple as this: - An iPhone is manufactured in China or India. It costs 25 USD. - This iPhone is sold to a company in a lox tax country. The iPhone is sold for 25 USD and one cent. One cent of profit is taxed in China or India at (e.g.) 30%. They pay .3 cents of taxes. - An Irish corporation buys the iPhone for 200 USD. This is taxed at the low tax countries profit tax (e.g. 1%, so they pay 2 USD there) - The iPhone is now in the European Union, it travels freely to Germany where it is sold at 210 USD. This profit is taxed in Ireland at 10% (thanks to an special agreement). That is 1 USD of tax. - VAT is applied at 20%, that is around 40 USD. That´s paid in Germany. Apart from VAT, The real tax at that 15% minimum if you do not do all this tax avoidance is (210 - 20) *15%, plus VAT. Excluding VAT, the tax should have been 28.5 USD and they have managed to pay 3.3 USD. This is a very basic example and figures are probably far from accurate, but you get the idea. A solution has to address this pick and choose of where to pay. I think you are mistaken in two aspects. One is that the 15% tax rate is basically created for Double tax avoidance agreements. This means when a foreign company operates in a country it will either pay the tax at the rate specified in that country or the rate of DTAA whichever is lower, This is done to avoid the problem of double taxation because the same income used to get doubly taxed in both the source country and the home country, this practice actually made a lot of companies set up their head offices in Off-shore tax-free Islands. This is why OECD decided to give this thing a nod. Secondly talking about the iPhone thing. Can you please refer to the source of your calculation? Because if you manufacture in India or China you surely pay the VAT or the GST, even if I assume that on exports it can be rebated but in Income tax, there is a section of transfer pricing which means the margins on your products should always be adequate to ensure that you don't transfer profits into a lower tax country. This section can be invoked here for sure. |
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So why reserve banks do not accept taxes in the form of Bitcoin? (Reserve banks do not accept bitcoin yet but claim that they accept bitcoin) otherwise it only shows that that governments just want to generate fiat money out of thin air. Governments should blame themselves, instead of showing their hypocrisy by cracking down on bitcoin. Fact: There is no anything like money laundering but governments want to buy BTC
The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.
Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP. Umm! Ideally, Fiat isn't generated out of thin air! For every million generated by the government, there are repercussions on the whole economy so it needs to be very smartly done. Talking about why Reserve Banks do not accept taxes in form of bitcoin. Taxes are basically a cut from what you have earned. Now Imagine if Reserve Bank starts collecting taxes in form of gold? People who earn in fiat will rather start buying gold and then deposit their taxes, in this buying price of gold would dramatically increase and therefore people who would pay their taxes late would end up paying much more tax than what is required. Moreover, it's a futile exercise. For this sake of simplicity, taxes are collected in legal tender only. |
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Hi there,
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
Instead of El Salvador, I would rather suggest your Estonia, it's a great country for bitcoin startups and has been quite supportive to entrepreneurs, they have strong money laundering rules and therefore they carry a good reputation in international community, unlike Malta. Another good option can always be Switzerland, they even have a sort of license for bitcoin startups as you can register yourself as fintech Startup and get some help from the government. Do you know any company which can fast forward the legal paths? Some friends told me as well about Estonia, I think we will go with it. No, I don't know about any company, also I would suggest don't trust just any company based on online research, better reach to some startup that already has a setup there and ask them about the legal counsel they are using for their operations, A better option is to search for a legal counsel in your own country who has some tie-ups with firms in Estonia, they generally have such arrangements especially for multinational corporations. Just for token? Well depends on the utility itself because that utility could have different laws in the nation you are in. For example if the utility is like an exchange such as BNB for Binance then you could go with Malta or even as high as USA because it is different there. Or if your utility is buying something like lets say a teddy bear, then it becomes different and in that case asian nations have a better law there about manufacturing and selling something.
Basically it all comes down to what utility you want to deal with and there is nothing you can do that can change it, just focus on the utility and learn the laws of that utility in the nation you want to. Crypto startups are dime a dozen and you do not want to basically start a business, you want to start a token and that is very different then having say a mining business or an exchange business.
I think it's more about the complications of law and ease of doing business that startups in the blockchain domain decide to move abroad instead of setting up businesses in US and UK. Small countries are more friendly towards such startups and even provide some tax exemptions. In this era of remote accessibilty, deciding your place of business on the basis of your utility is absolutely a myth unless you are going to open a hot-dog corner. |
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Fact: There is no anything like money laundering but governments want to buy BTC
The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.
Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP. |
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Hi there,
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
Instead of El Salvador, I would rather suggest your Estonia, it's a great country for bitcoin startups and has been quite supportive to entrepreneurs, they have strong money laundering rules and therefore they carry a good reputation in international community, unlike Malta. Another good option can always be Switzerland, they even have a sort of license for bitcoin startups as you can register yourself as fintech Startup and get some help from the government. |
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This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!
Ok you are saying it's cheap, but what is the value you have in your mind for btc? And what is the reason that you have that value in your mind? Which valuation technique you are using the arrive to that value? I know the answer, it would be your gut feeling that's it. Everyone has their own aspirational values for bitcoin, now when people having lower aspirational value are ready to change their aspiration and buy higher it is when the price increases. Otherwise you can even value a dogecoin for one million. |
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COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.
I think you are talking about the inflation levels of the economy surprised to see a few answering in terms of Bitcoin pricing. I think inflation was sort of expected because of the increased money supply from last year. Also the ideas of basic minimum income further escalated the inflation in the economy. Now with economic growth downward this is creating a very negative scenario. Increased prices with decreased GDP is a very bad indicator of the economy as the poor would suffer a lot. Only way out of this situation is to increase further supply even more to drive customer demand and rectify the situation but this is quite risky as it could create a debt trap sort of inflationary scenario. |
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No, of course there is no evidence. People with low IQ just hate the rich because they themselves are not rich and they think the only reason someone could be rich then is because of corruption and not because they built a company that has become dominant in a major part of the economy. So they make up a lot of excuses and crazy conspiracy theories about why someone like Bill Gates could be rich while they are poor. And the simple answer they don't want to believe is that instead of spending their time believing crazy nonsense, Bill Gates built a valuable company.
Typical Democrat response. Anyone who disagree with them is low IQ. All I am asking is that tax liability should be made equal for everyone. And in case of Bill Gates, you can defend him as much as you want. But in the history he will be recorded as the largest tax evader, after refusing to pay a tax bill of $20 billion. In your case, in one of your post I saw you supporting income tax of 80%. But you are perfectly fine if Bill Gates pay $0 in tax. The reason - he built a valuable company. I am glad that now people get to know how these Democrat supporters think. The taxes should be paid by the middle class and the billionaires don't have to pay anything and they can evade taxes in the name of charity. I am in favor of lowering the tax rate, and that can be done only if we remove all the exemptions that are being used by the billionaires to evade taxes. Democrats are not going to like this, because they are the biggest defenders of this group. See Sithara, Poltics aside but I think calling someone tax evader for the tax liability which never accrued on him is quite funny. Emotions and economics can never be mixed together. You might remember bill gates as a tax evader while lessons of this tax planning by bill gates will be taught to accountants all around the world because for them it's an exemplary piece of art. All I am against are the conspiracy theories, it's an evident fact that Bill gates got away from a hefty tax bill, some would cribble about the fact for the rest of their life while others would do smart tax planning for themselves by learning from these folks. I am neither giving you a democrat approach nor a republican approach I am giving you a pure businessman approach which Bill Gates actually used. Indeed, it often happens, those with poor mentality think that everything in life is supported by a conspiracy. No one gets rich without stealing and cheating but there are many better things to do than think that way. However, this condition will continue to occur because even though the rich and the poor start from 0, the mentally rich will rack their brains to get their wealth while the poor will be busy mocking the hard work of others.
What sort of hard work is involved in tax evasion? You can't divert the discussion by mocking those who speak the truth. There is a reason why people are upset with billionaires such as Bill Gates and Bezos, and not that much with people like Elon Musk. The topic here is Bill Gates using the charity loophole, to avoid paying a tax bill of $20 billion. I would call this as tax evasion or tax avoidance. IMO, if Bill Gates want to spend his wealth on charity, then he is free to do so. But first, he need to pay tax as per the prevailing long term capital gains tax rate. Here he has paid $0 in tax, because he moved all his shares to a charity foundation. All sort of excuses are being given by his supporters. But none of them makes sense. There are a lot of billionaires out there, who became rich as a result of hard work. But not all of them do tax evasion like Bill Gates. Name just one such person with a concrete proof who never evaded taxes. |
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Seems like China is done with Bitcoin. Hash rate has dropped by over 60% in the last few weeks, which confirms that miners are exiting China for good.
How does a Bitcoin exit benefit China in the long term? What do you guys think is China's game plan?
A lot of chatter about this being "China's trillion dollar mistake". I don't think China's dumb, so keen to hear what they might have up their sleeves.
Overall, I don't think the Chinese government is worried about miners. For China, politics has been much more important than economics. This means China would not allow their resources to be used for anything which doesn't give them enough revenues at the same time they ensure that they have strict control over the spread of information due to that thing. Bitcoin promotes a free economy which is entirely opposite of the ideology that China has, when they are working okay after banning social media websites like Facebook, Twitter and even Google, then banning bitcoin won't be a big loss for them. |
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Bitcoin Weekly Dead Cat Bounce ending Bitcoin Price Soon to be below $30K A few more dead cat bouncesNext to be below $20K A few more dead cat bouncesFinal Destination $10K Happy Trading  Buying Opportunity at $10k, anything before that is you just giving money away.  Source of the prediction : Trust me bro, I am the crypto guru isn't it?  you have just given blind levels for bitcoin without even giving any reason be it based on fundamental analysis or technical analysis or just even based on any news. Try to explain more about the analysis of the hypothesis that you have made otherwise make sure you clarify that it's just your wishful thinking. Just a protip: After a long bull run it has never been that Bitcoin broke the previous all time high. |
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Hi I am a Newbie when it comes to crypto, I was hoping there is a way to store Shiba Inu and some other coins offline?
Is there any way to do this whereby they are not left on any exchanges? I hate exchanges after what happened to me back in 2016.
Another question is Trust Wallet safe to store these coins on?
Any help would be appreciated, Thanks in advance.
Yes, transfer it into Ethereum wallet, it's basically an ether token so you can transfer it into your My Ether Wallet. It can be safely stored there. But to be very honest, I won't recommend you to HODL a coin like Shiba inu, it's a meme coin without any utilities, these types of coins are just one timer, they don't really last in the long run. But if you still want to do it. Just open a MEW account and transfer all your Shiba into that. |
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