This is as good as it can get. The proposed 20% tax rate is much lower, when compared to the same for the other countries. On top of that, small-scale traders who earn profits up to $2,000 per year doesn't have to pay any tax. This has to be one of the most encouraging news to appear here since the start of this year. But then, I hope that this law won't be changed further, because South Korean government has a habit of backtracking on their promises.
What "other countries"? Germany and many other countries have 0% tax. 20% is quite high. In many countries a total income tax is about 18% so trading is taxed more in Korea than any other job in canada where you have 15% tax up to 47 thousand dollars a year. |
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I only regret that it took so long and they managed to dump so many coins on the market.
The results would be much better if those people were arrested earlier and the coins seized and put on auction. We can't have all we want so I'm still happy with the outcome.
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I've never had anything to do with the legal system in India so I'm clueless as to what your rights there are.
You should at least demand to see what you're accused of. In Europe they can freeze your account pending investigation but have to inform you what you're being investigated for.
There's also a period of time given in which they have to contact you with te results of the investigation.
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You make a very good point here which is being missed by most posters.
To bring up a similar case of compromised email. Bitmain was hacked and thousands of customers emails home addresses and gear purchased was leaked.
I purchased 100 plus pieces of bitmain gear. Does that hack mean many people will come to my home?
Not likely. But if I owned a ledger I would not have all my coins on it any more.
Of course nobody is going to come after you because they wouldn't know where to look. You could be a retailer or a middle man for some mining farm owner. Most likely the gear wouldn't even be at your house, same as Bitcoins. Even if they had all the dates of purchase, in this business 6 months is a lot of time. Thinking like that would make every celebrity or a successful CEO live in a bunker and have bodyguards patrolling the garden 24/7. All rich people would have to live like one of those cocaine bosses from South America. I don't have all my coins on my Ledger, but I feel pretty safe knowing that the private keys are unaccessible. Probably the weakest point is the software from Ledger that you install on your PC to access the wallet. |
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Now we're going to hear news that people getting robbed and threatened to hand their ledger and the keys.  You think that someone will break into your house and attack you because they know you bought a ledger? Most of ledger users have more valuable stuff in their houses than on their wallets. How are you going to know if: The buyer bought it for themselves and not to give away or sell? The buyer holds a lot of coins? You could end up breaking into someone's home and risking getting shot or stabbed to learn that they sold it, gave it to a friend or have just $1000 or something like that in cryptocurrencies. The wedding rings most people have on their fingers all the time can be worth more than that. I have a ledger and it wasn't bought on their site so I don't care. |
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Pretty similar to the stock market. Blackrock holds millions of shares of every major company in the world, but you as a averge human can at least buy a few dozens to a hundred, depending on the price. I think itīs good news that Bitcoin resembles the stock market in this regard, it shows a mature distribution and the trust of big wallets canīt be bad for the reputation either
Buying many different shares is also not that great because the more you have the more time you need to spend managing it. Even if you had enough money to buy a few shares of eevry company from top 100 you'd be making life harder for yourself. For the average trader it's better to have a portfolio of a fee investments that you know and have time to read about every day. For this reason my focus was and still is on BTC. I don't know much about stocks and following altcoins is too much of a hassle for me. Maybe having some ETH is not a bad idea but most other coins are not worth your time. |
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How greedy the offer is! Free 0.06 BTC. How unrealistic the offer is! This is free 600 USD  I can tell you that if someone offers you free 60 USD you can be very suspicious. I've been browsing the forums for years and haven't seen even 60 USD being given away to a large number of participants. 60 USD in a competition happens often or as an airdrop for Bitcoin owners but for registering an account? I think the most I've seen for testing out a site was $20 and there were other limitations like you had to bet it a few times to be able to withdraw or you had to get some referrals... If they were giving away 6USD for free I'd say it could be legit. 60 - nah. 600? LOL |
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Yes it does. Bitcoin is the most successful coin on the market and many shitcoins that used it became valuable and allowed dev teams to make money.
Check out how many clones of Bitcoin are there. Coins like Bitcoin gold, diamond, god and similar all had their peaks of popularity and someone made money on that peak.
Dogecoin is another example of a coin that became popular through its name not the protocol or real world use.
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"A bitcoin scam is anything involving Bitcoin."
And he even said that line with a straight face lol. Yeap, that's either just pure ignorance, or they know what they're doing and he said that line mostly to spark discussions in crypto-communities(like what we're doing right now).
Why doesn't a scam that involves US Dollar or Euro isn't a Dollar or Euro scam? They usually write stupid things like that to scare people away from using something. If someone found a way to hack into your iphone and they wrote "a recent attack on iphone users" it would be fair but if they wrote "a recent iphone scam" it's ambiguous and makes the company look bad. Bitcoin is not a company and cannot defend itself so those hyenas know it's vulnerable and attack it. It's deliberate. |
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If you have any Bitcoin then the chances are extremely high you have some that was either stolen from someone or earned selling 'shit'. Silk Road and similar will have had hundreds of thousands of coins passing through and they don't disappear like magic, they keep on circulating.
As long as you don't end with a toxic brand on your forehead it is what it is.
There were many similar markets like that second silk road and sheep marketplace that was hacked and many many more that exist to this day. I could argue that more than 50% of all coins in existence were once used for something illegal even if this illegal thing was tax evasion. I really don't care just as I don't wash my cash when I get it  Some of the cash you use every day was probably used to buy drugs or prostitutes. Does it change anything? |
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Of course the current corona pandemic has in one way or the other affected the crypto operation globally because some conferences which were supposed to be held in favour of crypto market have been postponed till further notice.A lot of people with fear that crypto may collapse soon have started withdrawing their funds and by so doing having a negative effect generally on the market. However, there is still hope that situation of things will soon get back to normal for crypto and the market level will rise positively.We just have to keep our focus firm and remain persistent with crypto investment because the market will experience a boom very soon.
It already is positive as most alts follow Bitcoin on its way up. We had some positive news for Bitcoin in the last 2 weeks and everyone is bullish for ETH so the rise in value can be easily explained. Regarding the boom, I don't see it this way. The market cycles are becoming longer and the most probable year for a new market bubble is probably going to be 2022. We are already in a bull market but the cycle is going to take between 1 and 2 years. |
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Cryptocurrency taxation is essential, but the same should not be levied heavily. It is a must to take into account the chart for the transaction amount and the value. However we do, it is a big process to get the taxes from the citizens. Here everything need to be done with effect from the traditional exchange system.
Essential for which entity? The government? Surely not essential for the taxed citizens. I guess it does make sense putting small taxes in bitcoins or in a transaction but probably it would not happen directly in the bitcoin transaction but in the companies or the bitcoin wallet.
But probably it's a bad idea at this time as bitcoin is not yet completely implemented all over the world if the country already exposed in bitcoin or already uses it as an asset it might work with taxes.
If the tax is added to the transaction fee how is it going to work? Are you taxed by the country you live in? Or maybe the country you send coins from or the country you send coins to? Or maybe you're taxed by the country you are a citizen of? |
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I have seen a lot of bounty use escrow, but honestly the result is not so good. There are still many projects that have collapsed and become scams and bounty hunters only get useless tokens and cannot sell them.
Then demand to be paid in existing tokens that are already on the market. If they can't afford full campaign payment in existing tokens demand half of it to be escrowed. Worst case scenario they'll go bankrupt and you'll get 50% of your payment but at least you will have some money. I told you all that demanding escrow is a great way to verify the health of the developing team. If they can't afford to escrow 1000 USD to show their good intentions they must be broke and broke teams either go bankrupt or look for a way to scam. |
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The things people do in their free time never cease to amaze me.  After some digging I found this guy who tests types of nail guns on hard drives and one (a concrete nailer) manages to get the job done. https://www.youtube.com/watch?v=RC46fVL9VLAIt stil doesn't explain the tool holder part. |
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check out the heavy duty nail guns used in construction. some are pneumatic (used in framing a lot), some even use .22 blanks to drive nails into concrete. nailing through a hard drive is no problem.
OP said "hammered", which kinda implies a hand-held hammer but perhaps you're right. I've seen a Ramset in action, that thing is savage. Also insane to use on anything other than prescribed materials (like a 2x4 to concrete) but we're talking about someone allegedly thinking that a hard drive is a tool holder so fair game. I have disassembled some hard drives in my life and the bottom part is pretty hard alu cast and the top is a sheet of steel. I can't imagine even a pneumatic nail gun breaking through this. As you can see below an HDD can stop a normal pistol bullet. Not a match for rifles, but a nail? Please. https://www.youtube.com/watch?v=YvMpXv5U7R8Also what tools was that supposed to hold? Did he drill holes in it for bits and screwdrivers? |
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Looking from a (FIAT) bookmakers perspective, KYC isn't the holy grail though. The reason to do multi-accounting is mostly for new customers bonuses or some other kind of free money. And because there is quite a lot of free money to get, and people would do a lot to get this money, even bookmakers with strict KYC have to take additional steps to keep multi-accounting at bay.
There are other reasons. I know people who bet on set matches and they have these "patrons" who make money out of it. The way the system works is they hire people to manage multiple accounts for them, get them all register, bet around for a bit, los a bit of money to make the accounts look legit. Then when the tip comes they are given a lot of money to be distributed among all those fake accounts so that it doesn't look suspicious. Of course Ip is not enough to decide who is evading a ban or not but KYC doesn't stop multi accounting. |
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There are crypto gambling sites which are also setting up limits. Some sports betting sites for example do have minimum amount of bets allowed.
Perhaps some fiat/crypto gambling sites do not allow very low bets because they consider these bets too insignificant that they do not make good money out of it. Perhaps they find bets as low as 1 to 10 sats as worthless bets which should not be accepted. Even 100 sats is just less than 0.01 cents so why bother accepting it? Just my thoughts.
Usually this is done to prevent people from running off with bonuses and freebies given to newcomers. The casinos usually make it simple. Say they have 1 USD bets on their slots so when they introduce cryptocurrency payments you have the same 1 USD bets minimum just converted to crypto. They're like stores. You don't get real crypto bets you just get fiat balance based on your crypto deposits. It's still xxx USD just displayed as crypto. |
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It cannot replace its function in the industry but it can replace it as a store of value
Imagine what would happen if a big deposit of gold is found somewhere. Gold is worth a lot because it's useful and rare. If you dump a lot of cheaply mined gold on the market it will no longer be rare.
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Without some scaling solutions like segwit and the lightning network Bitcoin would have bottlenecked long ago.
If you were trying to send a transaction in January of 2018 you knew how painful a bottleneck can be.
I suspect that this situation would only grow and make people unable to process a transaction without waiting a week or paying $200 in fees.
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Exactly! They won't set their foot into dirty doings without knowing their way out. It is not like letting themselves getting caught in the end, so what's the point of stealing if they won't get the chance to use it  . And yet many of them are so lazy and stupid they often do hang themselves. It only takes one slip to blow your anonymity. The address that was posted on all of the hacked Twitter accounts has had past transactions to exchanges. The chances are there's some link to ID somewhere along the way. Quite a few dark market druggists have sent funds directly from sales to exchange accounts that sent the pigs straight to their door. Also once you begin hacking, scamming and stealing, you don't stop. Those people who did it once will keep on trying and one day someone will find them and get it all back. DPR knew they were after him, they even knocked on his door and asked him a few questions without knowing who they were talking to and he did not run. He kept living in the same apartment and going to the same library to work on his marketplace. About stupid thieves https://brnodaily.com/2017/10/12/breaking-news/czech-man-sent-to-prison-for-stealing-bitcoins/That guy was caught because when he stole those coins he bought houses for himself and his parents. THere are more cases like that one all over the internet. |
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