Slovenia is one of the Cryptocurrency Tigers around Europe. Last April the Finance Ministry of Slovenia proposed a law to levy a 10% tax on all fiat-to-crypto conversions and cryptocurrency transfers. Now the country is getting ready to start taxing cryptos. Given that this will work out as an experiment in the eyes of several countries if everything goes well many other countries in Europe should follow. Thing is, it puzzles me how are they going to tax cryptos... what sort of technics will the country develop to track all cryptocurrencies in circulation? Crypto tax will soon become a reality around the world. There are still many countries who don't recognize cryptos but soon they will be forced to recognize crypto and that will happen in very near future. It's quite easy for a government to lavy taxes. They will allow only a handful of exchanges to operate in their country and laxy taxes on them which in turn will be levied to the end users. That's it! But 10% tax is quite less I would say, compared to the global standard! |
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I am sure Shiba Inu will also break the record while disappearing! You need to understand that Shiba Inu is a speculation game. While it's around, trade and make money but don't look back. It simply doesn't have the attributes that is needed to survive in the competitive world. It's just ongoing due to the support from Elon Musk and to certain extent, Vitalik. I don't see any future seriously.
If you are thinking for long term, invest in ETH rather!
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Bitcoin! Bitcoin!! Bitcoin!!! We’re enthusiasts and solely want to know the future of this technology. I believe Satoshi Nakamoto the founder original intention for creating Bitcoin is to develop a Peer-to-Peer Electronic Cash System. This electronic cash system can be used for daily payment and cash circulation in general. It is believed that the total amount of bitcoin in circulation is 21 million bitcoin that exist. That was the initial idea for sure but we have already deviated from that path. Bitcoin is nothing but an investment right at this moment and that's why we are seeing this madness from almost all segments of the society. It has purely became an accumulation game! Many capitalized on the worth of bitcoin and use it as a store of value. they end up trading their bitcoin, converting it to physical currencies (Fiat) to solve material problems like buying properties. If this action continue like this and people keep selling their bitcoin for material possessions. Wont the amount of bitcoin in circulation depreciate or even vanish? Because bitcoin is been converted to fiat currency and consumed for material things.
Jack just sold the bitcoin in his wallet to buy 2020 GLK Mercedes Benz, leaving the wallet empty. Is this action not detrimental to bitcoin?
These kind of things won't hurt bitcoin. Because bitcoin is not water that will vaporize in the air. It is just exchanging hands. When a transaction happens, there is a seller and on the other side, there must be a buyer. So it is just changing ownership and nothing else. |
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What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?
Wall street is very wise and they know how make money from Thin air. Bitcoin ETFs are just one of many methods to make money from thin air. Because I believe all bitcoin ETF that are running in the market, are ysing CME Future derivatives as an underlying asset. So whatever billions of dollars flowing into the bitcoin ETF market, are not flowing into the bitcoin market. So ETFs can't impact the vision of cryptocurrency. It can just create some positivity among the minds of the common people and that's it. |
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I don't think FDIC has any control on banks. Also it seems more like a personal comment rather than an official one. So I don't think we need to cheer about this news. Also bitcoin is created to remove the greedy middleman loke banks. Personally I wouldn't do any crypto transactions with my bank even if government legalizes it. Just doesn't make sense! It's better to keep the bitcoins safer with you own system rather than with banks. |
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lost 20k in 2 days , used up all my profits from my portfolio , and i just wanted to keep on going . how you guys stop yourself from betting/gambling on casino ? looking for ways to bet on sportsbook but not on casino , but stake does not provide the option for that .  Congratulations! You have already on the right path to end your gambling addiction. Because you are understanding that you are becoming an addicted gambler. That's the most important step. Take medical help now! Every country has helpline numbers to help an addicted gambler to recover. Connect there and speak up. You should get help from there and possibly they will do some counseling as well. 20k is a big amount. You need to stop gambling instead of looking for alternatives. |
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What is happening with Shiba Inu is called pure gambling and speculation. As this meme coin was backed by few celebrities and Vitalik himself, it gained a quick popularity which was pretty unexpected by many. And now that it has gained a huge popularity, people are trying to get that listed in exchanges. What I foresee, it will eventually become listed, either in Robinhood or in any other exchanges because it brings money to the exchanges. So I see further upside potential in this coin. Good for short term gambling!
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Just wise business sense! Bitcoin is one of the most sought after asset of this decade and everyone wants their cut from the cake. But this is what we really need to celebrate because mastercard is not going to make investment into bitcoin and make it more centralized rather they are going to enable crypto transactions into their super established network.
So everyone within their network can transact crypto within their network. This is something big for the future of crypto adoption.
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Does the government want to get involved in this investment as an alternative to their desire to generate wealth for the individual or the country? Some small countries may indulge into investment or even mining like El-Salvador is planning. But I don't think any other country will commit their resources to such things. But don't be surprised if few other small countries start mining in future. Government movements are unpredictable so you never know what's coming. Want to provide financial freedom for all its people?
]Want to improve people's living standard during the pandemic because of the difficulty of generating jobs?
Lol! Governments have millions of other ways to achieve the same! Since they have not explored those million ways, I don't think they will let bitcoin do it. Rather if they allow bitcoin to help their people to achieve financial freedom, that will expose their own inefficiencies. What I strongly believe that if a government legalizes bitcoin in their country, the main moto is revenue. Tax revenue from bitcoin users, tax revenue from exchanges etc. And the tax percentage will be much higher than their normal tax slabs. For example you can see Japanese crypto tax structure. |
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Somehow, I doubt nigeria's central bank e-currency will do better than venezuela launching the petro.
I believe what Nigeria has launched is just a digital version of their fiat money which is structurally different than petro, which was a cryptocurrency. While the price of petro was decided by few external factors, that would not be the case of Digital Naira. The closest we can compare Enaira is with Digital Yuan. From the perspective of government, it makes complete sense because it saves money and grants surveillance capabilities to thw government. |
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There is no doubt that the crypto community is growing at a superfast pace in India. Thanks to the community and the exchanges who are spending in millions to increase awareness about cryptos in India. If the growth continues without any hindrance, amazing future is indeed waiting for Indian economy and cryptos.
But the government is keeping silence all along! That's what worries me! The government is corrupted to the core and Indian banks have a really strong lobby here. Things can turn negative at any point of time!
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Lol! The funny part is that everyone understands that bitcoin is becoming a true global revolution and everyone wants their share. But people have different ways to achieve it. Craig Wright tried to do legally while SNL is acting funny.
Anyone can claim anything and what we can do is ignore!
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Yes, I have watched the India vs Pakistan match in Hotstar and noticed the same thing. We have seen advertising from 3 main players of Indian crypto market - Coinswitch, Coin CDX and Bitbns. It happened in almost every interval.
I am sure that increases the visibility of crypto industry among the Indian crowd. Also it will surely make a good amount of people intrigued about what bitcoin is. Even though Indian government is still not sure what they will do but I am sure crypto community of India would not give up without a fight!
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I was watching India Pakistan match yesterday evening and what surprised me is the number of bitcoin related ads that came in between. It's either Coinswitch, Bitbns, CoinCDX that kept on coming constantly at each interval. However, what's shocking is the bitbns ad where they spoke about bitcoin FD which gives 4 times more return than traditional FDs. I found this link in their website, https://bitbns.com/trade/#/fip?utm_source=bitbns&utm_medium=web_footerI am not sure how they are running this but such kind of deposit schemes come under "Collective Investment Scheme" regulation of SEBI and very similar to ponzis. What do you think? Is it good to invest in such scheme? |
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Lol! 64% on profit or revenue? I believe it's the revenue!
But I would say it's a wise decision by the government. New York houses the most billionaires in the world and one of the most costliest cities. Also the income of the city people are amongst the highest as well. So people living in New York wouldn't mind spending on sports betting. Also the government will get what they always want, taxes!
But the wise business houses will eventually pass on the cost to the people only or they would have to look for value added services to survive!
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The digital age brought our lives to a second universe - The internet. Ever since the internet set sail Banks had to adapt and present new services and options to their users. However, the digital also brought us digital money and financial freedom. Cryptocurrency is here to stay and is bound to disrupt the way we manage and relate with our money. Banks will need to adapt or they face certain death. While some Banks and financial institutions have been historically fighting cryptocurrency others have already understood the need to adapt to stay ahead of the curve as in the case of some Spanish Banks. Nevertheless, this is still a new technology and Governments with its old fashion regulation as well as their Central Banks are yet to implement adequate regulation and are still a bi hindrance for cryptos to go mainstream. Luckily, things are changing rapidly and mainstream adoption may come sooner than we think. Do you guys think, this will happen within this decade or not? Possible! But that will not happen in our lifetime! The root of commercial banks are so deeply attached to the society, that death of the banking system is not something that will happen soon enough. Rather what I foresee is that banks will adapt this digital era and evolve as per the need of the economy. Failur is certainly not an option for them. They will be under pressure for sure but eventually will adapt to the demand of the economy. |
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The idea indeed sounds outlandish at the first glance! Collection of such data indeed requires to comply with a stringent data protection policy under the relevant section of laws. But we need to look at how the data will be used! I am sure worldcoin would not sell that data to people like you and me. Such kind of data has great use in criminology and might become particularly handy for the enforcement agencies and government.
Till the time only willing people are ready to do the iris scan, I think that's ok. No one should be forced!
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In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.
This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?
In my country, you need to have a political pet if you want to run a business successfully. Also you need to manager the demands from the local authorities and police forces and beaurocrats. But if you can manage a political pet, everything else gets managed. Even the enforcement agencies can't touch you. Moreover, if those people who has a great political connection can make and manage a good business and can make money in millions. But rest everything is just the game of balancing the clients and the authorities. |
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I believe that Bitcoin and general crypto indrustry enter an era of heavy regulations. Regulations that will do near impossible for the most ppl to buy, trade or even use Bitcoin. Today EFF have post an article about this matter https://thedefiant.io/crypto-endangered-confronting-an-existential-threat/https://twitter.com/EFF/status/1448023101518671873Bitsamp already do this and ask from the most of their customers to give them every bitcoin or crypto transaction they have done the last years. Where they buy and where they get them. Maybe this new heavy regulator era will be and a great opportunity for a growth to p2p exchanges. Regulation is inevitable! There's no way we can escape it unless we move to a sovereign nation create for cryptos. Few years down the line, we all will have to adhere to certain kyc process if we want to continue using cryptocurrencies in a civil society. Governments are slowly realizing that they can control bitcoin. China tried to shut down and wreck havoc on bitcoin market several times and failed miserably. So what left is regulation and that's what various governments will impose on us! That is inevitable. Even the p2p marketplaces will have to bow down to such regulations. |
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