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I am happy that you are asking the right question even before you begin because several businesses have closed down when the hassle of the law gets to them and they could not cope with compliance. For one you have not indicated the country you are resident and this will go a long way in eliciting the right response.
But base on what you put there, I think as for you business, you might be liable to pay both CGT and income taxes. However, the moment you can do the right thing from the beginning, I don't think you should have anything to fear from government or any of its agents.
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You have made some decent and find a nice way to hedge your risk which is the best decision any trader launching out should do as its that way frustration would set in. But the real question in the mind of newbie traders is how do they know the right coin to follow and implement this idea you have suggested because without that, it won't matter as whether you make your decision once in a month or ten times, it would still end up being a bad decision which I believe everyone is always trying to avoid.
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Like I always maintained, whales would only set the motion for action its the entries market participants that ensure it happens through their actions following such direction set. A whale can decide to buy at an higher rate thereby set the tone for a marginal increase in the price of say btc but the moment the generality of the market just ignore such moves, in no distant time, the price goes back to its initial position before the earlier move but would not be the case should everybody start buying. The same thing happens in a case where there is a downward trend in price. The point is, it mostly determined by the vast people operating in the market than the whales.
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This is another of the fallacies that have pervaded the crypto space in my opinion because claiming bankers hate btc means that individuals working in the bank don't want to have anything to do with crypto as a whole forgetting that a lot of them have invested in crypto in their personal capacity as individuals and several others have become account managers to individuals who are engaged in crypto. Eventually, we will outgrow all of this fallacious believes.
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There are several problems but its best to describe them as challenges because its surely something that can be surmounted. One of the dominant one among the rest is the issue of regulations which has been a significant challenge in the mouth of many. It has become so bad that almost every finance person who is aware of current happenings have maintained that this is the major drawback for adoption but I believe that as education and awareness of crypto continues, this misconception would be cleared eventually.
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2019 is fast approaching and its going to be a year to that is more challenging aside from the normal challenges that comes with the new year, that of bitcoin would take a steep one because the some of the issues that have been responsible for the downturn of events in 2018 have not been duly taken care of which would mean starting the year on a low note. However, if we can take a different approach by not waiting for magic to happen to push the price to desired point, I see a fulfilling year ahead.
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Hello everyone.
When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?
In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.
But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.
An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.
There are too many projects that we don't really need it on blockchain.
Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.
You have made a valid point but you also need to realise that all of those valid examples you have made reference to are based on blockchain which means that the importance of blockchain is solid and its something that have created a solution to certian problem. The other deficiencies you have identified are only exploiting the freedom nature of blockchain for their own selfish needs by creating an array of junk projects without any clear cut solution that it wants to offer which then becloud the good deeds that we have seen here. In summary, we need blockchain but not the half baked project created on it's platform. |
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When there is any 'anonymous' quote on an information, it shows there is a plan underway and most time, it usually an official authorisation to leak it to the public in other to get a feel of what the public thinks about such move or the opposition against such move by the relevant government authority. Eventually, this might happen because Facebook as we know it meant business about breaking barriers and this is not the first time this news is happening and I believe its getting to a phase that the public needs to be aware of what is to come next.
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We have come to conclude that everything is controlled by cartel not knowing that the moment there is a gathering of people trying to control the outcome of a particular situation or probably want to focus on seeing a specific reaction, there is a cartel. Cartel does not necessarily have to be about bad events or taking freedom of people away. For banks, they are simply businessmen trying to protect their pipeline of resources by all means necessary.
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One thing that is sure is that no matter how you can prove it, blockchain would surely absolve themselves from it because admitting means they ending their business. This is not the first time that people have complained about issues from blockchain and their response has only been in one direction with examples of ways you can get compromised which would be hard for any active computer users to get away from. They would then change the narrative unfortunately instead of people to condemn or apportion some blame to them, we also make excuses for them.
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Username: audaciousbeing
Current Rank: Hero Member
Current Post Count: 3519
Bitcoin address:34XuQVDP5cENbUfcqD7HycRcQekLhENL4q
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Its not out of place to see the stock market take a nose dive sincerely and the people who goes to through historical analysis in other to exaggerate the extent of such fall are merely hypocritical about it as its really not needed. They only succeeded in creating panic where there is none. Its a stock market and fall and rise are part of it. The following day, there could be some increase or gain, government may announce policy changes and all the losses would be recovered in hours. Its that volatile.
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Credit cards are responsible for people in debts today and the capitalists have found a way for force their ways into the way of life of people that you are forced to use it even though you don't need it. I have seen people forced to use it because they want to increase their credit rating in other to be eligible for things that they actually need.
On the effect on the economy, other than affording people the opportunity to have access to what they wouldn't have which ensures they live with basic comfort, the disadvantages also abound and if I am to choose in waiting to have cash or use credit, I will go for the former.
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Anyone who is of the opinion that bitcoin is created for money laundering is either deceiving himself or being economical with the truth and that is a fact. Long before now, the issue of money laundering has been a major concern and with the several controls put in place, I can say boldly it has reduced rather its just not announced in other to give credit to the various controls that have been put in place by the managers of the economy and encourage them to continue to do more. Bitcoin on the other hand is gradually losing its anonymity because of the KYCs policies which makes it even difficult to move huge amount of coin value without raising a dust.
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This is surely where future money is headed because they would realise that the cost of printing and keeping safe the current fiat, would be so much that can be avoided if it can be virtual and that is what I see several countries implementing. Another reason is because they understand that the world is going digital with crypto currency and something needs to be done in other to still maintain control by having full grasp of the financial system.
But this should not by any way mistaken to be a news in support of bitcoin and other popular crypto currency but a simple government adopting current trend and still maintaining the status quo.
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The whole point of Bitcoin is to take the power away from financial institutions and give it to the people and now a "bank" wants to centralise the ecosystem?! A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution. Source: https://bitcoin.org/bitcoin.pdf I guess people are beginning to look beyond the original objective of bitcoin all in the name of adoption and acceptance and majorly what influence such would bring to the price of bitcoin itself and I won't blame them because majority actually entered into crypto currency in other to make wealth and any movement towards achieving that objective, is very much welcome. For me, any form of bitcoin bank or any services related to that, is purely a deviation from the original objective and does not worth rejoicing over. |
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The market seems to be in state of limbo right now, with a plunge in the stocks market, the crypto market isn't spared either. All hopes of a bull run in 2018 seem to be fading away and if there'll be a surge ever this year, it may just not surpass $8k and that being the highest till year end. What's your take?
$8k at this point is a very long way to reach to be sincere but not impossible as things can change overnight. My take is just to actively contribute to the market in seeing our expectations because it won't happen by magic or else we want to subscribe and be expecting one huge "pump" and give one person or a group of people the credit of being responsible for the turn of events. |
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Leaving SEC out of this, when any government agency is ready to go after crypto, they don't need to waste their energy going after individuals. It the platforms that makes crypto thrives that they attack and when they do that, they have cut the head which is what is happening in the case of EtherDelta but the consolation is that, as they cut off one, others are springing up trying to learn from what led to the fall of the latter. Just like Op suggested, these are the several options that would be considered by any new platform ready to operate any form of exchange platforms.
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https://www.cnbc.com/2018/11/01/fintech-banks-face-extinction-phase-amid-new-financial-technology.htmlRapid changes in financial technology, or fintech, are shaking up the global banking industry. Banks must adopt new technologies to survive an ongoing “extinction phase” wrought by such tech, according to Stephen Bird, Citi’s global consumer banking CEO. While new technologies cannot be ignored, bankers say the primary aim is to use them to provide the best service to customers. Hard figures on how much the new wave of technology has disrupted retail banking are hard to come by, but analysts have stressed that the challenge is real. Do you think the tech here includes blockchain and crypto? There is no extinction going on for the banks as far as I am concerned. The only thing they are facing is the continuous alternative way of making payment which is due to the birth of fintech companies but this fintech companies still relies on the goodwill of the banks in other to penetrate as an average man on the street would trust the bank with his money that someone telling him to download an app to carry out his financial transactions. On technology advancements, I will not be surprised that the reason why we have not heard much from banks on blockchain is that they are waiting for government regulations and they would launch as I am sure they would have been developing something behind the scene. |
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After considering many threads based on the same question by people who've invested in Bitcoins, whether they purchased it at its ATH or below it but above the current price (thinking of whether the price will recover), or if they bought it at current values (where they want to know that is it safe to be in BTC or should they need to tether it out currently). Based on the calculative analysis and the fact that it has reached the end of falling wedge and a very big triangle that had formed, is going to end very soon, we can expect Bitcoins to finally break it upwards and the move will be very big, just like last year (though, I don't think it will break its ATH). It's been in history and you can check it yourself that Bitcoin always got higher during Christmas and it's already near, and considering the fact that it's already been consolidating after the futures expired (and a big chance for SEC to approve a few ETFs), Bitcoin will definitely have a chance to break high values (at least double to $12k) and blast off the shorts, so we can say that we may have a sigh of relief once the bull run enter the markets.
The thoughts of where do we go from here is something that I am sure will be in the mouth of every genuine enthusiast and everybody who have a stake in the market and it does not matter whether you are core believer, SegWit supporter or BCH promoter. Its really happening without any end in sight because as its going, we might have to see a lot of people bolting the market and that would lead to a further downward trend in price. I feel the argument of increase happening in December was only held true because some machinery of the state were not doing anything at the time and that is why it seems that government cannot stop the continued influence of crypto but now we are seeing it differently. Ultimately, we might not see the ATH at least in the short term but hopefully that the season period would breathe some fresh air to the market. |
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