The Biden administration has proposed international cooperation to clamp down on crypto tax evasion by sharing data globally. The Biden administration is making an effort to clamp down on crypto tax evasion by asking for the collection of data on foreign cryptocurrency investors active in the U.S. The United States Treasury Department released a series of revenue proposals late last month when the suggestion was made. The effort is a bid to increase international cooperation on tax evasion related to crypto. The guideline would require cryptocurrency brokers like exchanges and hosted wallet providers to provide information to the Internal Revenue Service (IRS). This information would be related to foreign individuals that indirectly hold accounts with said entities. Many foreign individuals currently use platforms based in the U.S. to make their trades. Given that crypto tax laws are still very much in the early stages, there are likely many earnings going unreported. The U.S. would hand information on these purchases to foreign governments. In return, it would receive information on U.S. citizens who could be dealing in cryptocurrencies abroad. Many Americans also use foreign exchanges and wallet providers to handle their crypto investments. The IRS has previously made efforts to ensure tax compliance within the United States. But the new suggestion marks a significant step forward in terms of ensuring compliance. It will be interesting to see how other governments take to this idea, as they too are concerned about taxation. Biden administration keen on crypto regulation The Biden administration is making a concerted effort to plug any loopholes in the crypto market. Many new statements and potential regulatory changes have been suggested in the past few months. These include those related to taxation, KYC/AML, and investor protection. Several new appointees in key positions have also made their opinions on the crypto market known. While they are not particularly welcoming of cryptocurrencies, they do acknowledge that the technology has benefits. The key focus at the moment appears to be investor protection. Treasury Secretary Janet Yellen, SEC Chairman Gary Gensler, and OCC Acting Comptroller Michael J. Hsu have all made remarks to that end. The sudden uptick in cryptocurrency discussion, and the remarks made by officials, are a clear sign that 2021 will likely be a year of regulatory focus on cryptocurrencies. The world at large is also very interested in seeing how the U.S. tackles regulation, which could set an example for other countries. South Korea, China, and the U.K. are all also doubling down on regulation, with similar reasons to that of the United States. https://news.yahoo.com/biden-goes-crypto-tax-evaders-095735812.html .... Can anyone imagine a scenario where nations of the world sacrifice state sovereignty to pander to this proposal of global tax initiatives. Would every nation in the world willingly abandon their right to government themselves and bow down before the united states, Joe Biden, china or any central authority figure? Does anyone support this as a first step towards a one world government someday becoming a reality? I think we saw the blueprint for how this will unfold in the history of net neutrality. Many years ago John McCain proposed a bill known as the internet freedom act, which would have killed net neutrality. That bill failed. And another attempt to kill net neutrality was made. And another. Adjustments were made. Until finally they succeeded in killing net neutrality. I think these attempts at establishing global tax initiatives and perhaps a global one world government will be the same. This first proposal made by Joe Biden will probably fail. They will make adjustments and try again. |
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Would it be an exaggeration to say JP Morgan's low btc price projection, as well as central banks around the world attacking btc. Are motivated by circumstances unrelated to what bitcoin's actual market value is. JP Morgan did something similar to tesla stock last year. Their price projections are becoming more about politics than actual market value IMO. Tesla stock has been under attack for awhile now. Analysts, banks and industry experts said tesla was overvalued and encouraged everyone to short TSLA when it was worth less than $300. The same happened with bitcoin. Jamie Dimon called it a bubble and said it was overvalued when one bitcoin was worth around $10k. Perhaps there are similarities between bitcoin and tesla stock. Which led to tesla buying $1.5 billion in btc. |
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We all know how Elon pumped and then dumped the market through his influential tweets. I'm still waiting for someone to explain why Elon would dump the market with his company (tesla) holding $1.5 billion in BTC. Was Elon's master plan to lose around $700 million. Due to holding BTC as it fell? Almost all of Elon Musk's net worth is tied up in the stock of businesses he own. He doesn't have the high liquidity and trading volume needed to significant move market prices. |
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Economic growth is dependant on productivity. Productivity is dependant on innovation and scientific advancement. In practice the way this works is if one farmer can farm 5 acres of land. The introduction of horse drawn plows may have allowed him to farm 10 acres of land. With the development of petroleum fueled tractors allowing one farmer to farm 50+ acres of land. Growth and expansion of science and technology, boost productivity. Which in turn boost the economy. If this is true, achieving peak economic growth entails achieving peak science and technology R & D. This goal is tied in to education and encouraging young minds to pursue fields in science or engineering. Japan's culture revolves heavily around anime. Through anime and giant robots, japanese culture embraces science and engineering fields. A big push behind them having a high level of tech. There are many who hoped young americans would become more interested in science and engineering fields with comic books becoming popular in hollywood. The rest is creating a business environment where start ups can flourish. Incentivizing development and advancement of industry. Rather than propping up stagnation and consolidation. The best thing about industry advancement is everyone benefits. It doesn't matter if someone is rich or poor. They can benefit from the invention of big screen TVs, computers, cell phones. At least in that regard benefits have been shown to trickle down. My favourite part out of the list is probably 3. End the war on drugs - I would fully support if my country would look into this issue. If milder drugs like cannabis would be legalised than a whole new area for the economy would be created. Just look at Netherlands for example, the have a huge tourist area just for smoking, so many coffee shops and people just go there for a weekend to relax. The good thing would also be that the quality increases if it can be planted legally and under government supervision. And of course the government can earn more money through taxes.
I think spain or portugal (perhaps both?) are known for having success with drug decriminalization. The cost of drugs and weed can also decrease once they become less regulated. Which can de incentivize drug dealers from being in a business where their profits plummet. |
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Jairzinho Rozenstruik should be the betting favorite here. He's not a guaranteed win. Augusto Sakai does have a potential path to victory.
Rozenstruik's biggest shortcoming is his low strike volume. He models himself after Deontay Wilder believing he only needs 1 punch to KO his opponents and win fights. Past opponents outworked and outpointed Rozenstruik beating him on activity. That is Augusto Sakai's most likely path to victory, should he win.
The real question is what changes Rozenstruik will make if any. Will Rozenstruik try to be more active. Or will he fall into his old habit of looking for the 1 punch knockout. Be outworked. And lost on points.
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It is interesting how right wing republicans like Warren Davidson. Right wing states like florida and texas. Trend towards being pro bitcoin and pro cryptocurrency. Texas is currently constructing new wind farms with new crypto mining operations lining up to be powered by them. Earlier this year florida announced it would recognize bitcoin as a legal currency.
Left wing nations like china, left wing states like new york and left wing democrats like Joe Biden. Trend towards the opposite. I think new york outright blocked financial institutions in the state from buying or selling tether and stablecoins. New york is known for having anti crypto regulation in place. Joe Biden announced many harsh penalties for crypto after assuming the Presidency, including capital gains hikes.
I wonder if people are interested in right vs left talking points relating to crypto. Could these observations be consistent over time.
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Semiconductor shortages could make it harder to replace hash rate lost off the china ban. If semiconductor production associated with GPUs and ASICs fall. Simple supply and demand says semiconductor costs associated with crypto mining rigs could climb. In addition to this, we have manufacturers of SSDs / HDDs threatening to void warranties if storage units are utilized to mine chia coin. This trend if expanded could apply further pressure to the crypto mining industry in the future. Not to mention the potential of ASIC manufacturing in china having a relevant impact.
Those trends aside, it is possible china's mining ban will have only a limited short term effect. As china's previous bans relating to bitcoin were temporary.
Crypto mining being centralized in china over a longer period might have made it possible for more long term negative effects. In that china could be doing HODLers a favor by exiting the market. And passing the reins of influence on to others who will try to fill the vacuum left behind.
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From the title alone, I thought this was a post about financial markets and the economy resembling Obama's 2nd term in 2013 more than Trump's sole term in 2017. OP's post may not be about that topic. But the united states is returning to the financial and economic policies it had under Obama. Corporate taxes are being hiked. Federal spending is way up with stimulus and lockdowns. All of which is a throwback to 2013 era policy.
Perhaps on some level, all of these recent policy changes which occurred after Joe Biden was sworn in. Which mirror the 2013 to 2016 era. Are exhibiting similar trends in the crypto space.
Trump was relatively crypto agnostic as far as I can remember. There were no big or sweeping changes under his administration.
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Jake Paul sparred with current UFC fighter Mike Perry. Its confirmed he does train and spar with real fighters. https://twitter.com/PlatinumPerry/status/1383874510902857734JavierMendezAKAPodcast youtube channel interviewed someone confirmed to be inside Jake Paul's training camp. Who said Jake Paul brought in more than 20 sparring partners and knocked more than half of them out. I think the video clip was taken down. But I do remember seeing it before the Ben Askren vs Jake Paul fight happened. Not certain how good of a boxer Woodley is. He has trained in Freddie Roach's legendary Wild Card Boxing Gym. Woodley has legit skills and power. The main question is how banged up is his body at near to 40 years old. I think Dana White deserves credit for allowing Woodley to take this fight as well. He could've been a dick and exercised his contractual rights with Woodley to prevent the fight from happening. He gave it a green light. |
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Its very difficult if not impossible to recover funds or prosecute cyber criminals if they reside in north korea or a nation that does not cooperate with law enforcement. There is a significant extradition barrier to overcome in many cases.
There is a kneejerk reaction whereby people blame crypto for these crimes. This negative trend is unfair in my opinion.
Example, if criminals in russia or china upload ransomware to american systems. And the ransom is paid in crypto. It can be impossible to recover funds due to those nations not cooperating with US law enforcement and having no system whereby criminals can be extradited. These cases could be more complicated and difficult than they might seem on the surface. These circumstances are also not exclusive to crypto. The overwhelming amount of fraud, crime and money laundering occurs in fiat. Crypto based crime is a tiny sliver in contrast.
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There are many who say they're the best. They're the one who is running the game. Many believe this in their heart or mind. Who aren't willing to invest much time or energy into making it a reality.
Then there are people who actually do spend 23.9 hours a day, 7 days a week trying to run everything. Their lifestyle revolves around pulling strings and making power plays to influence public opinion. They move people the way that shepherds herd flocks of sheep.
I don't really have a problem with the rich and powerful seeking to rewrite society and civilization in their own image. They're simply doing the same things rich and wealthy have done throughout history. A person can look back at history 2,000 years ago. 200,000 years ago. And see demographics of people doing the same things today that they did milennia ago.
The only things that make today's history relevant are technology and science having progressed. The destruction of communities and family units who no longer communicate, cooperate, educate/inform themselves or remain united. And the human population expanding to a point where it causes mass species extinctions, climate change and other negative effects.
Those behind dystopian movements are following the same trends their demographic has followed throughout history. Where things have gone wrong is everyone else outside the dystopian movement failing to care about their own self interests. A sense of entitlement in believing that making bad decisions and failing to be politically or economically literate is entirely unrelated to losing rights and freedoms. Is something we all may wind up paying a hefty price for.
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Charles Darwin is famous for his observation of "survival of the fittest" leading to a healthier eco system. Under his narrative organisms compete. Those best suited to thrive under existing conditions pass on their genes. Could this type of darwinism be applied to finance and money. Is a competitive environment for currencies and assets under markets favorable to society. If it is true that nature abhors a vacuum. Could aspects of finance and economies revolve around the opposite spectrum. Propping up vacuums due to an anti competitive slant whereby they seek to consolidate and monopolize markets to prevent any form of real competition from existing. It is common for many today to accuse american tech giants like google as being monopolies which exist in a vacuum where perhaps no real competition exists. Might it be fair to say, that competition carries a potential to make monopolistic giants like microsoft and google better. Competition can produce incentive and necessity for self improvement. Which drives industry advancement and progress. Elevating standard of living. In the absence of such can humanity, business or anything truly thrive? .... Food for thought: Conditions of degeneration in the organic world are approximately known. These conditions are often of two distinct kinds, deprivation of food, light, etc. so leading to imperfect nutrition and enervation; the other, a life of repose, with abundant supply of food and decreased exposure to the dangers of the environment. It is noteworthy that while the former only depresses, or at most distinguishes the specific type, the latter, through the disuse of the nervous and other structures etc. which such a simplification of life involves, brings about that far more insidious and through degeneration seen in the life history of myriads of parasites.
--Patrick Geddes |
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Are you making money online? Sports gambling used to be a profitable enterprise for me. There were past years when I'd start out with a bankroll of 0.07 BTC. Within 6 months I'd turn that 0.07 into 2 or 3 bitcoins gambling on MMA. But things are much harder now. Its much harder to be profitable. That was by far the best way to make money in crypto I've found. While it lasted anyways. There's a blockchain based card game called splinterlands I've been experimenting with for fun. Cards used in the game double as collectible art NFTs. The local game economy rewards a win in a ranking battle with as much as $0.02 cents per win. I think I won one $0.80 cent prize competing in a tournament for beginners. I'm not breaking any revenue records and I think my total deck net worth is more than I spent to acquire it. Its mostly something I'm doing for fun. In the past I've done a few different things. Selling merchandise and t-shirts on platforms similar to etsy stores. Trading stocks and crypto. There are an overwhelming amount of opportunities out there. .... There are a few names in social media that post detailed breakdowns of their crypto earnings. Here's one example from youtube. https://www.youtube.com/watch?v=GvRCN1jHtZIScott Cunningham - $5K+ From Crypto Social In One Month – Earnings Report #16 If anyone has a goal of branching out into internet crypto earnings, these could be good blueprints to follow. |
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I feel like there are many different morals and narratives to this story. The US abandoning a gold standard in 1933 is certainly relevant. The rise of the US dollar as a global reserve currency in 1944. To nation's like china working to undermine and replace the US dollar as the reserve currency in 2021. I've seen charts claiming average worker productivity from the 1950s to the present having almost doubled. While the average working day could be longer today than it was in the 1950s. There are many different trends at work. Different dimensions which make analysis complicated. The correct comparison would have been to have a stack of ~500USD on the right side, but that doesn't convey the pro-gold dogma as clearly. If inflation metrics were accurate. Wouldn't there be $1700 stacks on both sides of the table? One potential explanation for only $500 on the right side is inflation metrics being under reported. The way unemployment and virtually every other vital statistic has been under reported for decades. |
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I think the main indicator of altcoin value mirrors its value to people. The options and opportunities it provides. The problems it solves. Inflationary vs deflationary assets and currencies. Circulating supply. And similar facets which separate inflation protected assets from ones that are susceptible to hyperinflation and devaluation. These variables are certainly priced in. But emphasis and price projections based on these price points is discouraged. For the same reasons bitcoin being an inflation protected asset is seldom acknowledged. Even in the face of ever increasing fiat printing.
Aside from the fundamental market mechanics. Circumstances revolving around politics and world affairs definitely matter. There is a human condition element working in conjunction with metrics and statistics to determine how much an asset is worth. We can easily solve for the statistical elements. Identifying narratives and talking points which also factor into price valuation, is a little more difficult. And as relevant.
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At the moment, my favorite blockchain or gambling related game is splinterlands.
Its an online strategy card game merged with some randomized elements thrown in (game conditions, card total) which introduces some gambling aspects to it. Transactions and games are recorded on a blockchain. Cards are playable with a double role as collectible NFTs. The native game currency is pegged to the dollar 1000:100 which makes balances the game economy on a stablecoin-esque format. Money can be won in real time through playing matches and tournaments. Although as is typical with many blockchain based games, earnings are somewhat limited unless you're a whale spending whale money.
Aside from the obvious blockchain hype. The gameplay is solid with a lot of replay value. The game is formatted well and future expansions might only build on that.
I also tried alien worlds. But it got tedious quickly, filling out captchas on every mining action.
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If the goal is to support consumers having access to new inventions and technology which create jobs, create investment opportunities and elevate standard of living. Would central banks be the place people would expect to find these trends? There is a question of where progress for humanity comes from. Is it a fundamental trait of central banks or international banking cartels? Or is it a trend more commonly derived from individuals like Satoshi Nakamoto, working more independently of politics and agendas?
Conflict of interest could be one of the biggest obstacles to human progress. In finance, science and other fields. While most would agree progress is a great thing. It can be a double sided sword. Advancing technology gives us greater power and allows the size of the world's population to inflate. While our growing power can be used for good. It might also be used for evil. Its dual use technology. It is possible that peoples sense of responsibility and accountability should rise as progress is achieved. If societal gains are to scale in a way which decreases the likelihood of self destructiveness.
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The pandemic deprived south koreans of investment opportunities and jobs. These anti bitcoin measures are likely to have an identical effect. Who will people hold responsible for loss of jobs and opportunities to make money. Can the vacuum left behind by anti bitcoin regulation be filled by something else. Or will they be gone forever.
Bitcoin IMO succeeded in creating more than $1 trillion dollar's worth of jobs and financial opportunities across the globe. Replacing that loss due to anti bitcoin regulation, could be difficult if not impossible. The silence and lack of legitimate discussion on these topics is deafening. As someone who actively read user posts on the internet over the last 10 years. Its stunning how the quality of discussion has declined. It has become more common for people to repeat very generic statements on issues they might prefer not to think about.
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I think they would need to restructure the format to make it more attractive to gamblers.
Teams are too large. Its hard to track the play by play. A team size on the field closer to NBA/NFL/MLB/soccer would be a step in the right direction imo. There could also be more of a strategic element with the introduction of types of player formations and lineups which might be commonly utilized to generate a type of consistency.
There have been many different announcements and proposals revolving around the sport of melee armed combat over the years. Years back there was a guy claiming he invented a type of melee combat armor that was studded with sensors to measure and record blunt force trauma. That would be utilized as a foundation to create an entirely new combat sport. There are always many good proposals and ideas on how to take melee combat sports mainstream in a way which grants it mass following similar to MMA/UFC. But so far it would seem, no one has implemented it in a way which has been deemed attractive to the general public. It remains very much a fringe area for fans of renaissance fairs and the like.
Personally, I would not be interested in gambling on it as it is. There are too many variables. The player action isn't as well defined as I would like. Training and physical conditioning aspects are in their infancy. Conditions for victory and defeat are also not well defined. It lacks the old world typical combat aspects one might expect like shield walls, phalanxes and the like. On some level participants are probably going easy on each other to avoid injuries. Its not an all out sport where they can commit to win at all costs.
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I do not think that he did that to sabotage Bitcoin (BTC) .... I think he wanted to pump Shiba and Dodge, so he just tweeted that to get people to shift their investments from BTC to Shiba and Dodge (Where he is personally invested)
Someone with experience in trading might expect a shift from btc to shiba and doge to devalue tesla's $1.5 billion btc holdings. Elon Musk gave dogecoin a shoutout on SNL on may 8th. The value of dogecoin fell afterward. I think his shoutout was intended to elevate dogecoin's value but appeared to have the opposite effect. And so Elon Musk's reputation as a great market mastermind and manipulator may be somewhat exaggerated. If people are searching for a grand puppeteer pulling the strings behind all these occurrences they may have to look elsewhere. |
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