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321  Bitcoin / Legal / Re: IRS taps into strategic hires from private sector to improve crypto tax enforcem on: March 22, 2024, 06:58:54 AM
Every tax authority around the world hires people from private sectors or contracts with the consulting companies to strengthen their operations and enforcement power. It's no surprise that IRS did the same to bring in talents to help them operate more efficiently.

The modus operandi of IRS is very clear on digital assets. They want to come up with maximum governance to ensure no leakage in revenue. All the best!

I don't think this happens in all countries. The tax office in the country does not have the right to operate as a commercial company, and in my country this is impossible. To enter into a government contract with the tax authority, you need to have a lot of licenses and certifications, and as a rule, the state has a share in such companies.
In my country, most public corporations are managed by corrupt officials who are mostly appointed by politicians. Most of these agencies including the revenue collection agencies are not productive because most funds realised are out in private pockets. So it is commonly said that the government is not a good businessman. In order to get the best returns, the government usually signs contracts with private firms to run these agencies and bring returns. And this decision has turned out to be the best option for the government because these public companies are well-managed by private organizations.

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The private sector is the part of the economy run by individuals and companies for profit and is not state-controlled.
Therefore, such cooperation must involve a lot of legal formalities, which are sometimes impossible to fulfill. For example, a private company cannot advise both tax and commercial companies, because this is a conflict of interest.
There have always been corporations and partnerships between state-owned companies and private organizations. It's usually called a mixed system or public-private partnership. Sometimes the government might not have enough funds to invest in business, they will always go into partnership with private organizations that can fund such projects. In some cases these private organizations are the ones that have the business idea and expertise and the government will have no other option but to partner with them. Like you rightly said it will involve lots of legal work that will ensure that the interests of both parties are balanced.
322  Other / Beginners & Help / Re: Spending extra to keep my assets out of trouble on: March 22, 2024, 06:27:15 AM
Sometimes we want to save small bucks but end up losing more. The money you spend on gas fees could be considered high but it is insignificant considering the risk you averted depending on how much is stored in the wallet. Connecting a hardware wallet to any online platform is a great risk. I would rather have different wallets for diverse coins than keep all of them in a single one. Having a non-custodial air-gapped wallet for diverse tokens could be cost-effective. Thank you, OP for sharing because this information is helpful not just for newbies but for other members.
323  Economy / Economics / Re: Ignore Financial accountability to your detriment on: March 22, 2024, 05:28:05 AM
When you see a rich man who suddenly becomes poor or an average man who never grew above his current financial state, it's basically because they possibly weren't accountable for the money that was coming into their hands.
Many factors can cause a rich man to lose his wealth besides financial accountability. Wrong business decisions, loss of job or contract, shacks or scams, health problems, government policies, natural disasters, conflict or war, etc could destroy the wealth of the most prudent people.

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If you don't take your financial accountability seriously and want to allow everything to fall into place by chance, you will learn a hard lesson the bad way.
Spending without a plan or having a budget is one of the reasons why people mismanage their money. Financial accountability is the ability to use funds in a manner that you can give a detailed report of how you spend the resources. Funds shouldn't be spent recklessly because we are not accountable to anybody.

We should know that we must account for our wastefulness or prudence in the future. I know a cousin who was lavishing all he earned as a seafarer on clubbing and women. He failed to enrol for advanced courses in his field while other staff spent money and upgraded. The company later did a staff evaluation and laid off all staff who didn't upgrade their knowledge. Today, he is still unemployed and looking for a means of going back to the marine academy.
324  Economy / Gambling discussion / Re: brazil sanctioned law that taxes online betting in the country on: March 22, 2024, 04:57:56 AM
What do you think of this? Is there any regulation in the betting sector in your country?
The gambling sector in my country is regulated and gamblers also pay tax. But the difference is that you can fill your gamble losses as expenditure and get tax reductions. The government shouldn't only gain from tax will they will not also partake of the losses.

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Do you think the government should really collect alternative sources of income from its citizens such as online gambling?
The government has the constitutional right to seek for means of making more money to enable it to meet the needs of its citizens. But such laws should be fair and not one-sided. These policymakers should take into consideration that gambling is risky and people have been losing funds before they finally got a win. Tax should be calculated after deducting total expenses from the win.
325  Bitcoin / Bitcoin Discussion / Re: How old would you be by 2140? on: March 22, 2024, 04:19:19 AM
* how old would you be by 2140?
* What's your excuse for not investing in owning Bitcoin now?
- I may be dead before 2040 and maybe the younger generation of my lineage will be in custody of my Bitcoin. I don't think anybody in this forum will be alive except such a person is fortunate.

- One excuse that discouraged me from investing in Bitcoin was that I thought it was a scam. Some years ago many so-called crypto experts flooded my country and were organizing seminars where they claimed to teach people how to make money from cryptocurrencies. Many people ended up losing their money because most of them were scams. I was not scammed but many people that I know suffered financial losses from these platforms. They usually sell some worthless shitcoins to unsuspected participants or investors. This made me think that Bitcoin was also a scam.  

Now, ignorance is no longer an excuse but the economy is now my biggest impediment. Due to high inflation and the increase in the cost of goods and services, it is now very difficult to save money that will be used to invest in Bitcoin.
326  Other / Beginners & Help / Re: How to be ready when it comes to selling? on: March 21, 2024, 08:28:23 PM
First bull run for me and i Just want to be ready.

I am at work now and my cold storage wallet is at home so just thinking what if crypto goes up while I am at work for 8 hours and I cant do anything about it until I am home because all my crypto is on cold wallet at home.

Have exchanges fallen before in bull run or is it usually deep in bear market?
Bitcoin is not like altcoins which the price depreciates within a few hours. Eight hours will not make you lose the opportunity to sell at a good price. Let your funds remain in the cold wallet because it is safe and when it is time to sell you will achieve it few hours. I might not specifically state any exchange that went bankrupt during the bull run but some negative events such as scams, hacks or corruption that lead to the fall of exchanges cannot predicted. These events can happen anytime to any exchange within a few seconds.

I have been buying since March 2022 and did so up till last month so I was lucky enough to buy all along the bottom of the bear market.

I am tired of buying and holding yes, it was a long 2 years but I will remain patient and just put a plan in place for the next 12 months.

I don't plan on trying to time the top of the market, I will start selling in a few months in chunks over the next year or so.
Just have a selling price and follow it no matter how the market turns out. I have set a target and immediately it gets to that price, I will sell and start planning how to begin my DCA for the next bull run. You have been patient for two years, so I think you should still endure these few months.
327  Economy / Economics / Re: Bitcoin and it's holders in our society on: March 21, 2024, 09:46:33 AM
Well, OP, I have just a few questions to ask if you'd mind. In your country, if there are situations like the one you just described, and upon the police investigations, they discovered that the convicts, through illegal means, had acquired the coins they had in their wallets. What do they (the policemen) do with the funds? 
If you are unjustly harassed or detained by a security operative, you can always seek redress in court. There are cases where individuals sue the police force and these corrupt security operatives are punished severely for such misdoings. The court sometimes compensates the sufferer for this injustice.

Most of these security personnel who harass people are just corrupt and want to steal from the people. The police don't have the right to seize or forcefully access citizens' phones without going through due process. In most cases when they discover that the funds a legitimate they still force citizens to give them bribes before they are released or set free.

What i experience last night made me to raised this topic so we can learn to secure our investment or be very mindful while moving with our smartphone at night it's very risky to lose one valuable asset at this point.
As much as possible I maintain privacy. I don't want people to know that I own crypto because it can be misconceived. Unenlightened security agents see crypto owners as criminals, to avoid unwanted questioning, my phones are void of anything which will link me to crypto. My crypto activities are limited to my room because it saves me from unnecessary attacks and embarrassment.
328  Economy / Gambling discussion / Re: Feelings on losing the match and the bet on: March 21, 2024, 07:10:41 AM
Do you feel sad when your favorite team loses a match and the bet (if you had placed a bet on that match)?
A few years ago I was so committed to a football club that I usually lost my appetite for food each time they lost a game. Due to my loyalty, I will always eat before watching their games. However, I began to lose interest in the club when the government forcefully took the club away from the owner. Since then I don't feel too sad about their losses since their performance had reduced greatly. I also feel sad when I lose a bet no matter how small the money I put in is. Nobody is happy to lose because we are all gambling to make gains. However, the cure remains to bet what we can afford to lose.

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When your team wins you have happiness. Everything goes wrong including your mood and emotions if the team on which we place the bet loses the match unexpectedly.
I am more happy when I win a bet than when my team wins. The victory of my club has no physical or financial benefit to me. It's just an emotional thing that will not meet my needs. However, it is better for your club to win and you equally win a bet.
329  Economy / Economics / Re: Federal Reserve Meeting Today! March 20, 2024 on: March 20, 2024, 07:02:17 PM
For them to start lowering the interest rates there has to be some positive signals regarding inflation. But all we have now is negative signals and negative news so the chances of an interest cut should be 0%. For example in the seas US regime is losing as their support of genocide continues, consequently that conflict has led to cost of import/export skyrocketing that will directly and indirectly affect price of everything meaning higher inflation.
The disruption of the passage of ships through the Red Sea poses a global trade threat but some economists believe it will affect Europe and Asia more than the US. Most of these ships that use this route are sailing to or from Europe and East Asia.

There is also a report that the US is directly benefiting from these attacks because it has led to high demand for the US-produced shale. Instead of risking the passage through the Red Sea or spending more passing through Africa, oil customers now consider the US shale as a cheaper and safer alternative. This has led to an increase in the demand of the US suppliers. The war might be costing the US a lot but it seems they still have some means to recover these losses. 
330  Economy / Economics / Re: Federal Reserve Meeting Today! March 20, 2024 on: March 20, 2024, 01:24:11 PM
I'm confident that he'll say "maintain interest-rates at 5.5% until new data suggests a change", and "most probably it's higher for longer".
The 5.5% interest rate has been in place since July last year as the government keeps on fighting inflation. This has made borrowing expansive and reduced spending. Although Federal Reserve Chairman Jerome Powell said that interest rates might be cut three times this year he didn't give any timeline for this decision. The majority of economists or analysts predict that the Fed will maintain the same interest rate. Maybe the cut will start from June and this could affect the price of Bitcoin positively.
331  Economy / Gambling discussion / Re: Can you stake it all put of over confidence in your club on: March 20, 2024, 12:19:56 PM
Have anyone ever had confidence in any match that he was willing to be huge amounts to back up the confidence in a match that features his club. A friend of mine recently shocked me with how much passion and confidence he had in his club, man u vs liverpool  that happened on Sunday I guess was a very hard match cause Liverpool was already stomping 0:2 to man United but my friend was telling that man United won't lose the match, so I told him that if he has much confidence that he should stake life, shocking to me he went on and staked 5k on man United win to qualify which was about 7 odds at that time, and yeah it turned out right for him. Can any one do this or was it a foolish move?
Your friend is a loyal fan of Manchester United and he proved it by supporting the club even when it seems they will lose the game. For me, gambling is not an avenue show my loyalty or support to my club because money is involved. My prediction will be based on my analysis and not loyalty. If I suspect that my club will not perform well in a game I will not stake on them. Your friend was just fortunate to win the game because everyone had already concluded that Liverpool would win the game.

Tell him to gamble responsibly.

It wasn't over confidence it was reckless.
His action is not recklessness but he just had fun by taking a risk that is within his capacity. There are times when your analysis will fail because gambling is unpredictable. The guy simply took a risk and don't also forget that he won the game. OP didn't also tell us that he gambled with what he cannot afford to lose which means he is not an irresponsible gambler.
332  Bitcoin / Bitcoin Discussion / Re: MicroStrategy acquires an additional 9,245 BTC with excess cash(@$67,382) on: March 20, 2024, 12:02:41 PM
As of 3/18/24, $MSTR holds 214,246 $BTC acquired for ~$7.53B at an average price of $35,160 per bitcoin.
With BTC going down still, currently at $63,700. Do you think it is the correct strategy to buy more BTC and HODL? They did try to buy the dip but it has dipped further. Will we see another ATH soon? How long would you HODL if you were in MicroStrategy's position?
There is a common saying in the Bitcoin arena that the best time to buy the coin is when you can afford it. The price of Bitcoin will keep increasing and companies like MicroStrategy are not taking any chances but always investing. I assume the they don't have any intention to sell their holding in this present bull season so buying at $63,700 is not a bad decision since Bitcoin will always beat it's ATH. Just like El Salvador which has not indicated when they intend to sell, MicroStrategy might keep holding until the price hits $1m. If I am in the company's position I will only sell when the company has a pressing need for finance. Besides that, I will ensure the firm keeps holding  Bitcoin just as nations keep gold as reserves.
333  Economy / Gambling discussion / Re: Italian League Prediction Thread (Serie A) on: March 19, 2024, 01:18:41 PM
It is no longer correct to compare Inter and Juventus. There were big differences between the two teams and Juventus threw in the towel on the league with consecutive points losses and their only aim is now to gain qualification in the UCL. Inter has been winning consistently since the beginning of the year. As a result, they will be the winners this year. Juve, on the other hand, can already start thinking about next year.
With the elimination of Inter Milan from the Champions League, the club will now focus on the Seria A title. Inter is fourteen points ahead of AC Milan and seventeen points above Juventus. It will be very difficult for these teams to overtake Inter. The goal of these two teams will be to get a Champions League ticket and not the Italian league title. Inter lost two points when they drew against Napoli, however, the next game will be against Empoli. The international break is usually a turning point for some teams while it could also be a bad time for some clubs. Players are sometimes injured while representing their countries which might affect the performance of the clubs. The more injured players are club might have during this international break might determine how well they will fare after the break.
334  Economy / Economics / Re: The Prices of Labour. on: March 19, 2024, 11:57:10 AM
I would want the public in this forum to contribute.
I know some professors who own very old vehicles not because they cannot afford modern cars but because of their philosophy of life. Some of them believe that spending on new cars when the old ones are still functional is a waste of funds. Some of them are just weird that you can hardly understand them.

Most academics in my country are also underpaid. And the reason is purely because of corruption, fiat money has nothing to do with it. Most of these professors earn less than the lowest political office holders making them live in poverty. In some countries, teachers are one of the highest paid staff because of their importance to the sustainability of the society.

The standard is that if there is inflation, the government is supposed to review the minimum wage to suit current realities. But in many developing countries only politicians enjoy increased pay while others will have to struggle to survive. I restate that the problem is not fiat money but corrupt leadership and poor management of the national economy.
335  Economy / Gambling discussion / Re: Gambling is not place to make money is place to lose it? on: March 19, 2024, 11:33:13 AM
Hi everyone,

Gambling has become very popular in the world , especially after the changes that have occurred over the years with modern technology and the abundance of games, we can now gamble with one push    anywhere and anytime . More money is flowing to sites and casinos in huge quantities, and everyone’s goal is to win more ,As is always known, if there is a loser, there is a winner, and I don't think that the percentage of losers is greater than the winners .
Technology has led to an increase in gambling activities but the COVID-19 pandemic led to a revolution in the online gambling sector. Due to lockdowns people had to embrace online gambling because physical bet shops were locked down. The house will always have an edge so you may not be far from the truth that there are more losers than winners. However, sometimes casinos have to pay bettors a high amount when they win big. At this point, the casino might be suffering losses on the business.

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Is this true gambling is not the place to make money but is place to lose it?
Gambling is a place of entertainment where people also aspire to win some money. It is not a place to lose money but to risk money with the hope of winning big. Nobody goes to the casino with the sole aim of losing. However, in most cases, we tend to lose than win. But it doesn't push aside the fact that people are lucky sometimes and it leads to big wins. It is also good to note that seeing gambling as a source of revenue is an inappropriate view of betting.
336  Economy / Reputation / Re: Anonymity of Bitcointalk forum members on: March 19, 2024, 10:51:12 AM
Since I registered as a member of this great forum, I discovered that almost every one in this Bitcointalk forum is Anonymous like each of our identity is hidden, age, location, country, and some other personal information.
Yeah, the forum promotes anonymity because you don't need KYC to register or engage in discussion. But you also need to put some effort into promoting your privacy such as using Tor browser or other anonymity programs. However, some members know each other physically and this might be very common in local boards. Most members of local boards are closely knitted and might even come from the same community. I have read posts where members attest to meeting each other physically.

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Does it mean that our activities here just ends within the forum and doesn't extend to real life? And how do we cope with performing transactions with one another even when our identities are not known and in a case of fraudulent activities, how can the culprits be held responsible or accountable?
Most people use escrow services offered by reputable members of the forum to carryout financial transactions. The reputation of a member could also serve as a guarantee or collateral for financial transactions. This is why it is not advisable to engage in financial transactions with a newbie or a member without a reputation. Some members offer lending services and in most cases their collateral is the reputation of their account.

The punishment for engaging in fraudulent activities is negative trust. Suchmembers's accounts will become a trade or business risk and the red trust is a sign that warns people about trading or engaging in any financial transactions with such person. An account that has such negative trust will become worthless economically. This is why it is important to deal with high-ranking and trusted members because many of them will not want to destroy their accounts or reputations because of small financial transactions.
337  Economy / Gambling discussion / Re: Have you ever done something crazy to bet? on: March 17, 2024, 09:49:48 PM
Hi community,

I remember when I was in middle school, we used to play cards almost every day, and our stupidity reached the point where we would skip classes while we were inside school. The method of playing was easy, as the largest number was the winning card. So, some of my friends and I would gather in the middle school bathroom and make bets with the money that we had collected  from selling cigarettes.
Of course, this is not something I am proud of and I do not recommend it to everyone, but it's just childhood memories .

-Have you ever bet at the wrong place and the wrong time?
While in school I know some of my classmates who gamble using cards mostly in the bushes that surround our school. You don't dare gamble inside the school compound because it will lead to instant expulsion. It is common to see many of my seniors or even classmates outside the school environment gambling.

I have never engaged in this kind of card game but I was into other forms of gambling. We usually form a football team where each member will contribute a sum which would be used to bet with our opponents. A referee will be appointed who will officiate the game and also take custody of the money. The winner will receive the bet money and the team members will share the win after giving the referee his commission. I liked this type of gambling because it is your team's performance that will determine if you win or lose. It is common to see our classmates doing their best just to ensure that they win the bet. It was a good experience because this gambling football match is the true picture of gambling for entertainment and not just for money.
338  Bitcoin / Bitcoin Discussion / Re: I've projected my holding after this bull run. what's yours? on: March 17, 2024, 08:59:54 PM
I saw this project somewhere in town which inspired my goodwill thought to help the community.
Meanwhile I didn't make any promises to the community but indebted to myself, I'll do it without a damn promises.
I want to appreciate your kind gesture towards your community and I just hope you realize your ambition of providing water for your community. I don have much Bitcoin because I didn't start DCA early but my own plan is to use the profit I will make to start a business which will help cover my daily needs. Any other income I get from other sources will be invested into Bitcoin using the DCA strategy. I just hope Bitcoin gets to $100k to enable me raise enough money to start the business.

Are you sure about what you are saying? So what is your investment purpose and what motivates you to invest in bitcoin and want to make profits? This is the first time I've heard someone say that they don't know what to do with the money they earn while struggling to make money every day  Cheesy. Furthermore, you don't have a family, don't you have daily needs?
Profit and money are still things we pursue every day and sometimes take risks to get it. Therefore, it is meaningless to say that we do not have a purpose after achieving it.
Maybe he has not yet figured out what he would use the money for. He might have several needs or project he wants to accomplish and has not decided on a particular project. The bull run is still months ahead, so he still has more time to plan how to use his money.
339  Economy / Gambling discussion / Re: Paper Betting- Would You Consider it if you Were to Start Sports betting Again on: March 16, 2024, 09:38:17 PM
If you were to restart sports betting again, would consider learning first by betting on paper. This involves selecting 1 to 2 games daily and tracking the outcomes of your picks without wagering real money on a sportsbookie platform.
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Paper betting refers to participating in sports gambling without fronting any money. The idea is to learn the ropes without actually risking real money.
https://www.bettingsite.org/blog/paper-sports-betting-what-is-it-what-are-the-advantages-11569/
It is just like demo trading. Would do it if you were to begin sports betting again or jump right straight into the real thing?
Learning before engaging in real gambling is good to avoid costly mistakes. I never engaged in paper bets because I was not aware of it but I was fortunate to learn how to place bets from my friends. This type of demo gambling would have been very helpful to me because my learning process would have been fast and easy. Paper betting has become outdated but demo games are in vogue currently. Some online casinos have sections for demo bets and I would encourage every newbie to engage in them. New gamblers shouldn't be in a haste to go into real gambling because a single mistake can make them lose money because of lack of knowledge. These demo games are available for us to make and correct our mistakes.
340  Bitcoin / Bitcoin Discussion / Re: Can we avoid crypto taxes with other users assistance? on: March 16, 2024, 09:26:37 PM
Seeking for means to invade tax is not appropriate because it is a crime to invade tax. However, tax avoidance is an ideal means it bypassing tax legitimately.  In my country using P2P for Bitcoin transactions is an appropriate means of avoiding tax because our country's laws on cryptocurrency have not covered such kind of tax. You would be taxed when you use centralized platforms for crypto transactions. I also know that super-rich people avoid taxes by registering companies in tax havens which they can use for tax avoidance. It is not a bad idea to collaborate to avoid taxes but how can we locate trustworthy people? People might use this chance to scam people.  
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