I thought after all this time that mainstream articles might be a touch less reductive, but it seems there are no signs of it changing yet. It's not as simple as "regulations = price stability", but it's the same thing people have been spouting for years. Why do people expect predictability from something that has no real precedent?
The government uses fear to let their citizens allow themselves to be subjected to laws and regulations that they are not aware are oppressive to them. The government also does it slowly to avoid being noticed that they are turning their citizens into slaves. |
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Make gains on what, however. In bitcoins? America does not have a law defining what bitcoin really is. Is it a commodity or a currency?
In any case, this would be one of the reasons to use anonymous coins. Tax evasion hehehe.
Trading profits, virtual gains, etc. It doesn't matter what Bitcoin 'really' is, what matters is that you can always fit it in the appropriate section of your tax form. I used to use the alternative section for that, but now they specifically mention crypto by referring to it as digital currencies like Bitcoin, which is pretty neat. This causes less confusion and makes it clearer as to what section you should select. I can buy a pair of stinky socks for x amount and sell them for y amount and still be subject to taxation. Anything is pretty much subject to taxation unless stated otherwise. What gains? There are no gains until you sell any cryptocoin for fiat later. Does the American government tax people for paper gains from holding stocks. I reckon no government does, but correct me. Also, will they give tax breaks to people who lost money in the cryptospace hehehe? |
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Conor Mcgregor mentioned that Tyson Fury is presently the best heavyweight fighter. 1 week later, Khabib also mentioned a similar opinion. Dana White also mentioned that he wants to go in the boxing business and revive the heavyweight division.
I reckon we might have another storyboard in development by Dana here hehe.
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Well.. knowing how pesky the IRS can get, I would advice everyone to pay the taxes which are due on any trade from cryptocurrency. It is not that difficult to get the data on daily trade from the exchanges. And even better, some of the exchanges would even calculate the tax liability for you. I am not a big fan of paying taxes... but a confrontation is not something that we need right now.
Agreed. If you're using a centralized exchange and make gains, then definitely make sure to pay due taxes because it's not worth it to later have the IRS point you at it (and when they point you at it they don't do it in a friendly manner). I have a speculative stack of ~10% and a hodl stack of ~90%. My hodl stack hasn't touched an exchange in years and won't be doing so in the forthcoming years. I'm not going to pay one single penny in tax over my hodl stack. My speculative stack is where I do pay tax over the gains and whatnot. It sucks, but there is nothing that can be done against it as long as you keep speculating on centralized exchanges. Make gains on what, however. In bitcoins? America does not have a law defining what bitcoin really is. Is it a commodity or a currency? In any case, this would be one of the reasons to use anonymous coins. Tax evasion hehehe. |
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The answer why they want to do this is in your own thread title. May introduce own crypto hehehe. I reckon the odds are high that they can create the law and pass it. However, the odds are low that they can enforce it. |
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@CrazyLoaf. I reckon Aeon has already moved away from its original vision as a lightweight cryptonote coin. There is not enough developers working on the project. We were lucky to have a code rebase done for easy maintenance and updates by taking from Monero's development.
Is lespristy continuing to work on blockchain radio? Honestly, I do not know how that can help with Aeon's liquidity problems.
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@Febo. No one knows. But clearly the miners have not been selling and might be mining at cost. I reckon this might change once more miners enter Grin?
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@CrazyLoaf. Agreed. But what can we do? Exchanges only list and create liquidity for those coins they like.
Also, Asics will only be a step in the right direction only if we can assure that Aeon has the biggest hashrate of the new algorithm.
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In any case, what is the cause of this pump? The hardfork next month? There is nothing special about it, I reckon.
I can see three reasons. 1) The hardfork is special actually, since it's the first network upgrade of Grincoin. I reckon another pump will follow after the hardfork if everything goes smoothly. Why? Because it proves the team is working on it and they're moving with their schedule. 2) They released a Windows wallet. So far people's only options were to install Linux (in a virtual or physical machine) or keep their funds in exchanges. I'm sure there were many big investors who might have though of buying GRIN but they didn't have Linux nor wanted to bother with Linux. Those people are now able to buy GRIN. 3) With mixer services proving unsafe after all, it was bound that some people would turn to GRIN for its superb anonymity. Bonus) As I have been following this thread for a while, I understand a lot of people were expecting GRIN to fall to 1$ or even less, therefore at least a few people (if not many) were waiting to buy lower. Well... they might have understood that this was too low of a target and they're now FOMO buying. Fomo buying always ends in dumping as fast as the buyers can click hehehe. I might have made a mistake for not buying, however with more than 10% of inflation for the next 10 years and unlimited supply, I want a better price. The inflation is a relative thing. It might look like 10% now and 5% in 2 years (I pulled those numbers from my head, I didn't calculate the actual numbers) but the actual AMOUNT of coins generated are stable. This could either be good or bad. What I mean by that, is that the adoption will dictate if this amount of inflation will drive the price down or up. If the amount of users who hold GRIN increase sooner than expected, then the current inflation won't be enough to satisfy them and the price will increase because of higher demand than supply, that's what I believe we're seeing right now. On the other hand, a stable inflation has the risk of the project not reaching the expected userbase and there be just too many coins for too few people. Call me Mr. Obvious for explaining this but I feel like many people (I don't mean you specifically) only look at the one side of the coin. The market for Grin is small, the supply is unlimited, the inflation is more that 10% for the first 10 years and the pump is caused by speculation. I want a better price. I might be wrong, however, I can always wait after this pump is over. |
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However, thinking again, who are we to object Kik's ICO? What if the objective of the ICO is to get more funds to have the cashflow and save the company?
The SEC can issue scam warnings, I reckon. But should the SEC not let the market set itself right?
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Maybe new ownership coming soon? CCN acquisition: Scandinavian M&A with Stankevicius MGM? https://bitcoingarden.org/ccn-acquisition-scandinavian-ma-with-stankevicius-mgm/Apparently, company Stankevicius MGM, has already bought a dead crypto site in 2018 MONEY IN CRYPTO. As a matter of fact, this company is working closely with blockchain companies and ICOs. According to latest release on their website, it says that in 2018, Stankevicius helped ICO companies to raise over half a billion dollars in funding. This company is in the game and is working on something, something that others might not see. When a company is down, they buy it. What they do with it? That is the question.
But think about it! ICO companies dying, crypto media is dying. Coindesk and Cointelegraph are also losing traffic big time. Would it make sense to say so that crypto industry is being pushed out and traditional companies are looking for ways to get in? Hmm. What do you think?Smaller bitcoin news media outlets should close down, however. They are mostly publishing poorly written articles with clickbait titles to trick people similar to what Coinidol and Cointelegraph are doing. They might have also hired spammers to post their articles here in the press subforum. You know who you are hehehe. |
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This is what the IRS does very well. Making criminals of innocent people like you. In any case, this is also what Monero, Aeon and Grin will do best. Helping innocent people hide from people who want to make criminals out of you hehehe.  The Internal Revenue Service has a message it wants to get out to recreational bitcoin investors who think they can dodge taxes on their cryptocurrency gains — it knows what’s going on, and people won’t be able to get away with it for long.
Gary Alford, the IRS special agent who gained national attention for helping solve the Silk Road online drug trafficking case that led to the 2013 arrest of kingpin Ross Ulbricht, spoke at a panel in New York hosted by global accounting firm EisnerAmper about the tax consequences of cryptocurrencies. Now a cyber-crime coordinator for the IRS, Alford said his agency is ready to start moving past sensational money laundering cases and into more routine enforcements of tax law involving cryptocurrencies.
Speaking from a seat in front of a luxurious fireplace at the Columbus Citizens Foundation townhouse on Manhattan’s Upper East Side, Alford said:
“We’re usually behind the curve — history is made and then we react to it. But in this case, we are ahead of the curve. We were there on ground zero, and we were waiting for the rest of the world to catch up to what we already knew… We already are aware that there were cases to be made, we just didn’t know if we were at the point where we can bring it for criminal prosecution. We believe we are at that point now. If we had 12 jurors and told them someone made all their money in bitcoin, we believe that they would understand.”Read in full https://www.forbes.com/sites/hanktucker/2019/06/13/irs-agent-who-took-down-silk-road-turns-his-attention-to-recreational-bitcoin-investors/amp/ |
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In any case, what is the cause of this pump? The hardfork next month? There is nothing special about it, I reckon.
I can see three reasons. 1) The hardfork is special actually, since it's the first network upgrade of Grincoin. I reckon another pump will follow after the hardfork if everything goes smoothly. Why? Because it proves the team is working on it and they're moving with their schedule. 2) They released a Windows wallet. So far people's only options were to install Linux (in a virtual or physical machine) or keep their funds in exchanges. I'm sure there were many big investors who might have though of buying GRIN but they didn't have Linux nor wanted to bother with Linux. Those people are now able to buy GRIN. 3) With mixer services proving unsafe after all, it was bound that some people would turn to GRIN for its superb anonymity. Bonus) As I have been following this thread for a while, I understand a lot of people were expecting GRIN to fall to 1$ or even less, therefore at least a few people (if not many) were waiting to buy lower. Well... they might have understood that this was too low of a target and they're now FOMO buying. Fomo buying always ends in dumping as fast as the buyers can click hehehe. I might have made a mistake for not buying, however with more than 10% of inflation for the next 10 years and unlimited supply, I want a better price. |
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What about what the users want?
Send them a letter, hopefully, they will read it. Hehe it was more of a question to make a statement than a question to make an inquiry. Real decentralized cryptocoins do not need anyone's permission to be developed, to be used or to be supported. |
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@figmentofmyass. You make it appear practicing law is a scam hehehe. Maybe the law was designed by people to scam other people. All full of loopholes and traps if you know what you are doing.
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I just arrived home from celebrating the Raptors win. It was not a very good game for them, however it was enough to win the championship. Kahwi Leonard did not play well, Lowey did.
Congratulations to the believers hehehe.
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@swogerino. It might be team incompetence. The drivers were only unlucky to be in the team in a period where they cannot produce a winning car. Also, why did James Allison leave for personal reasons and only to return not to Ferrari but to join Mercedes?
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@Febo. However, that might be bad for the speculators which is made up of 90% of the cryptospace hehehe. It would make the project appear ignored and dying.
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Why no grin on bitcoinwisdom.io ?
You still go to bitcoinwisdom.io? Everyone now uses tradingview.com hehe. In any case, what is the cause of this pump? The hardfork next month? There is nothing special about it, I reckon. |
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What will the G20 do? Assemble a group of people, make up rules for the cryptospace and then declare them as the rules or else? What about what the users want?
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