The Group of 20 issued its official statement regarding the cryptocurrency, the text of the statement said Technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy. Crypto-assets do, however, raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing. Crypto-assets lack the key attributes of sovereign currencies. While crypto-assets do not at this point pose a global financial stability risk, we remain vigilant. We welcome updates provided by the FSB and the SSBs and look forward to their further work to monitor the potential risks of crypto-assets, and to assess multilateral responses as needed. We reiterate our March commitments related to the implementation of the FATF standards and we ask the FATF to clarify in October 2018 how its standards apply to crypto-assets. Although the statement did not offer anything new, it seemed promising/open about cryptocurrency as a whole. Also, there are some countries focused on the regulation of cryptocurrencies. What do you think? Source of news ----> https://www.maxcryptonews.com/g20-releases-official-statement-on-cryptocurrencyRead it from ---------> https://g20.org/sites/default/files/media/communique-_fmcbg_july.pdfIt indeed looks promising because it shows some openness to discussion rather than outright taking a negative position and it also worthy to be commended because the people who made the release are sure to not be in this generation and its hard to see the seniors open to such ideas that negates virtually everything they have come to believe in all their life. Personally, I think the process of adoption is in phases as the phase of acknowledgement has been done, the current I feel is the fear which focus more on the disadvantages highlighted in the extract of the report and the moment that can be handled with various reviews going on having indicate intention to wait for standards, the next would be acceptance with prejudice before moving to full acceptance as rejection won't be an option. |
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Definitely a critical issue in the years to come.
Here we see a market with future potential for ICO tokens and crypto currencies.
Crypto currencies like bitcoin, which are deflationary in nature, and built around producing long term value, could represent an ideal vehicle for retirement or pension funds as they are designed to appreciate in value over time. This inflation in value could help a pension fund to stave off additional liability costs in terms of people living longer lifespans or being in better overall health.
"Be greedy when others are fearful," is one investment quotation people love to quote. There is a lot of fear in pension plans and retirement funds which could mean its a good area to be greedy in atm.
Practically everything said about why pensions and retirement plans are failing is false. There are valid and easy to explain reasons for why these things fail and the real reasons are never mentioned.
This is going to be a serious issues and not only on the retirees but their dependents. Its sad to see retirees face this kind of uncertainty concerning their pensions being owed by the same economic institutions they worked all their youthful years to build. The most worrisome in all of this, is seeing a country like the United States still not being able to get its pension debacle right despite the several reforms and planning that have been put in place over the years. In my own opinion, for this to solve itself there is need to put a tight leash by law on the areas of investment pension funds can be invested or else this issues will continue to arise and the pensioners would be the ones bearing the brunt and forced to cut down their basic cost of living while people making their investment decisions would always be taking care of in terms of consultancy services. Pension fund for any reason in my opinion should not be invested in the stock market, or the crypto currency for now (due to its volatility) but on largely stable investment such as government backed securities, mutual funds with adequate guarantee. A pensioner to me would appreciate his monthly fairly stable inflow than high inflows that could end up with him losing all. |
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According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.
What is your thought on this matter?
There is nothing wrong in capital gains, the problem always arise when its time to pay and then you realize the value of the percentage applied on the capital gains is on the high side, people then look for ways to avoid the payment of this taxes. Capital gains should be allowed to stay but some certain exceptions should be introduced to it for example, 1. Someone selling his living home because he could no longer afford to live in the city should be exempted from paying Capital Gains Tax because doing that is making his economic situation worse off than he is currently in. 2. A business coming back from bankruptcy who then decide to sell its property that have been acquired years back to primarily pay debt should also be exempted from paying Capital Gains Tax as that would mean the money that should be used to offset the debt and get back on their feet would no longer be available. However, for the rich who have choice properties all over, the Capital Gains Tax should not only be applied but high enough to make them pay more. |
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Everywhere I look I read about how the bitcoin community wants more clear regulation from governments.
However bitcoins main reason for success thus far is the fact that it is a challenger to governments and central banks and can not be shutdown/turned off by anyone government because of its decentralized nature. Governments would have killed bitcoin years ago already if they could do it. A political dispute might affect the price of bitcoin in the short term however, Political disputes can not shutdown bitcoin. Bitcoin challenges governments and central banks power. Bitcoin does not answer to no one.
But yet the bitcoin community is always waiting for the largest governments of the world to give their thumbs up "regulation" approval first.
Its like waiting for your wife to tell you "its ok if you have sex with other women" Makes no sense to me. People all over the world should be rushing to get rid of their government manipulated fiat money.
Just my 2 satoshi worth!
Unfortunately, that is the reality that we have to live with and for me, I think its not about government but the people who are currently operating in the market that felt they can do anything. Imagine a newbie trying to understand and invest in the market only for him to get scammed by people. Who do you think he would report to? Nobody other than government agencies. Another example is when people keep their funds on exchange sites for trading only for the people there to compromise on both integrity and security leading mass losses on the part of clients, who do you think they would complain to, government agencies of course. I have been scammed before and I know the feeling and the worse is feeling helpless that the culprit will go free and look for the next victim to rob off his hard earned resources. The clamour for regulation is more of accountability and not control. Its true that crypto is coming to compete against centralization that thrives in the world today but it does not remove the need for people to be held accountable for their actions and if there is a way to figure out that without government, I am open to it. If there is a way we just want to do our trading with certainty, gamble and not be conscious of someone manipulating the process behind the scene, ready to pay tax on earnings all of this without involving government, then I am sure alot of people would be open to it. |
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$130 million loss in the first quarter to me is not something to be worried about because already we have completed the second quarter and its expected that they would have made some recovery based on the activities in the market that even individual traders can attest to having adjusted to the sharp surge between the high point of the last quarter of last year and low point in the fist quarter. The issue again is that, the loss they are reporting might not have been generated from trading but other overhead that the business incurs in running the enterprise such as the high bonuses, rent, finance cost and other overheads which the margin of trading needs to be high enough to cover but that is not possible as the market was generally down in the first quarter of the year. They lost over $100 million trading? Why didn't they simply quit trading and wait for things to look up again? Blimey. I'd rather be paying my staff to play video games for a year or two rather than chase those losses until there's nothing left.
There is no way they would have known that's how its going to be until they are preparing the report, and the moment the traders are not trading, its leads to boredom just like an accountant going to work to watch TV? Its just not going to work. If they had known, I would suggest, they declare vacation for everyone except the core guys. |
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After U.S regulators rejected the Winklevoss twins' demand for a Bitcoin Exchange Traded Fund (ETF), the crypto once more shows its resiliency and hardiness, staying above US$8,000. On March 10 last year, the Securities Exchange Commission (SEC) rejected the Winklevoss Bitcoin Trust petition to freely commerce the first ever Bitcoin ETF. Nevertheless, the SEC, therefore, has given petition seeking a proper review of the denial. Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-giants-turn-blind-eye-to-us-regulators-etf-rejection/Its not really about turning blind eye to it but because market participants have other things to focus and no one was expecting anything different from the application of Winklevoss brothers all attention was on the initial August 11 ETF application which was widely reported as I didn't even get to read about the application of the Winklevoss brothers before its denial which I believe everyone else must have been in the same situation. If we really want to test the "giant" nature of bitcoin price, when the denial of the suspended initial August 11 application happen and the price didn't shake, then we can conclude but it would be a great thing if any proposed application can be given the treatment that everyone just go by its normal business, if its positive, price takes a jump. If its not, the market remain the same. |
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I admit that it could be frustrating to see people who churn out garbage getting merit while some people taking their time to put our good content gets ignored which I believe is one of the reason you would have to come out with this questions. Is merit point system really working?
Of course its working but its not perfect. For the first time, I tend to look closely to people who have amassed more merit than the default merit for quality and most especially the not so popular usernames and lower rank members. For the first time, if you want to rank up legitimately, you have to earn it unlike before where people would literarily be posting "hi" "nice" "ok" "I agree" just to increase their post count and rank up. One Person has only one account ?
Of course we all know this is not possible and the merit system has equally taken care of this. You can only use it once when you exhausts it, you are back to earning it the right way without which, you are likely to remain one spot for a very long time. No fake account present on bitcointalk.org ?
Only high quality contents are present on bitcointalk.org
No fake airdrop or bounty campaign posted on bitcointalk.org
Proper distribution of merit point system is present ?
The answer is No, I think there should be a KYC verification system and mobile verification system present on bitcointalk.org.
Why merit point owner should give his earned tokens to other users.
I do not need merit point, keep them in your cold wallet ....
Please mentioned a single member of bitcointalk.org who has got legendary membership after
the introduction of merit point system.
Sorry My English is week, I am not native English speaker .
Some peoples are replying me; I have not got merit points because I have joined bounty campaigns.(Interesting)
Scroll down and see a member whose activity is zero and merit is 1 (Interesting)
Like I said, the process is not perfect with the existence of people trying so hard to look for way to exploit a carefully designed system but for it to succeed, everyone needs to join hands with it. If you are convinced you should be merited, I remember @JetCash has a tread for that and someone is watching even though they don't feel you have merited it yet. |
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I won't bother to doubt the report because even on the forum, the general feeling is that cryto currency investment is risky based on the advise to newbies to only invest what they intend not to use long term or an about they are prepared to lose but the 'very risky' part is where I would likely express displeasure because despite the risky nature of crypto, it has always compensated in for it in terms of returns within the specified period of time one is looking to invest that no other investment could turn out. However, reading the article, it shows that mainly the old and women have not heard about bitcoin which I would conclude that old also would be responsible for larger part of the people that claim its 'very risky' as its going to be difficult for crypto to appeal to the seniors as its very against whatever they have come to believe about investment all their lives. |
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EDIT3: Alpha test thread --> https://bitcointalk.org/index.php?topic=1923170.0it was a single man show from the begining. even the reaction time if issues occure proves this. IMO, chipmixer and campaign manager does not involves more then 2 people. maybe even just one. and if not just one both are strong connected in the same local community. I am really trying to understand what your end goal is here because I don't believe someone would embark on an activity without and end in mind and I feel its better you come out with that for everyone to see so that any concerns you have can be adequately responded to and attended to as necessary. The link you are trying to make are purely circumstantial that would not even take one to have any special skills to find out if one dedicate your time to it. @DarkStar has said where he is from and I wonder if the @chipmixer would do you the honor of saying where he is resident and answer such as that could mean he is just out of business. |
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The ultimate goal of what they are doing is removing the anonymity behind bitcoin and nothing else. In the sense that, the address is just unique to you which is connected to your KYC details that you submitted to them so that in the case of them submitting your account to the relevant government authority, or the address traced to the exchange site, it becomes easy for them to identify you i.e the individual behind those arbitrary numbers. The point is they are gradually making moves to ensure that those who think they can hide under the anonymity of bitcoin and using exchange sites should better wake up from their slumber because that is gradually becoming a myth.
There is no way you can force them to alter their way of doing things for you because its what you must have agreed when you registered on their site complying to their terms and conditions. The way out is to seek ways to protect yourself the more and several options have been made available for you and the most potent one is the use of mixing services.
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I am a newbie. I hope experienced people can show me how to make money electronically safely and legally. I want to learn. I want to invest in bitcoin or altcoin. Does anyone know if the coin is expected to increase dramatically?
If the legend teaches, that would be my honor!
You need to clear yourself of the myth of learning from a legend because if we all know the answers to that you are looking for we would all be super rich by now and again if anyone claim to be a legend, a pump and dump genius, a guaranteed return for x number of years, is an indication to you losing your money pretty fast and you will be the one to bear the responsibility no one else. You want to learn, there are several threads that have been opened to discuss the same subject matter all you need to do is rather than wait for some "legend" to come and tutor you, identify this threads and feed yourself with information to help you make the right decision that you would be proud of whether the result is positive or negative. |
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Your criteria for choosing a good bounty should be practically the same as that criteria you would have if you were considering making a financial investment in the project. Remember, even if you're not investing money, when you participate in a bounty you're still investing. You're simply investing time rather than money. And you expect compensation for it. Why would you participate in a bounty for a project you're not interested in investing in? It makes no sense. Overview of what you should look for:
1. Does their project solve an actual need? Do they actually have a business here which they can monetize?
2. Look for some kind of MVP at the very least. Are they actually building something technically interesting? What do they have so far
3. Team. Can they pull it off?
4. Cryptoeconomics. Do they actually need a token as part of their business model. Hint: most don't. Projects like Augur for example do.
5. Who have they partnered with? Being partnered with big names e.g. BitcoinSuisse/AmaZix is a lot better as they projects do much more in depth due diligence and help hold the projects to account. If the project is managing their own bounty, instead of it being professionally managed, what reason do they have to actually pay you?
6. Look for projects that are straight forward & blunt with people. Not projects that vomit out useless marketing pieces about how they're going to "revolutionize the world". Also avoid projects that are too focused on getting your money / giving investors discounts/bonuses
7. Ask yourself if you think the project will be successful and highly sought after. Will they hit their hardcap? If they only reach 1/4 of their hard cap, chances are their token price won't hold up too well.
All of those criterion you listed there are very much valid which any serious bounty hunter should try as much as possible to get clarifications on but at the same time, those criterion are more for an investor than a bounty hunter because most of the things you listed there don't always happen for majority of the projects at the beginning of laughing the campaign rather its during the development phase that you get to see Tue partnerships materializing and some until after the entire pre-sale and ICO sale which means a bounty itself would have been long gone or completed already before you have the answers. One potent way that has low rate of failure is the quality of the bounty manager. There are certain people when in charge of a campaign one thing is sure, you will get paid and for the mere that they can attach their name to that project means its going to perform at the least an average success rate. |
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A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
Most countries laughing their own crypto currency are doing it for one main reason which is to avoid sanctions from world powers and from my own point of view, its done for the wrong reasons because the same way they are scheming ways to avoid the sanctions, so also is the other governments would be working so hard that all the efforts become futile. Launching a crypto currency should go beyond avoidance but acceptance. They can only control the use of it in their own locality but what then happens to those that want to trade with them? Would they also enforce the rule on them? Unless they want to operate in the black market, I don't see this as a lasting solution to the problem being faced at all. |
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What if a percentage of the token goes to a charity organization or to the actual artists?
In my opinion, I think you should focus on how to remunerate the actual artists and not for charity because its not charity that wrote the story, hire equipment, paid the actors, actress and the entire production crew or spend a lot of money in doing promotion for it to be known and people then come to your platform to download it ( in the case of videos though). If they so wish to donate to charity, then its their sole business. Its just like saying someone stealing from others to give to the poor and the homeless. The act is noble but that does not make it legal and if caught, could go to prison for it and the noble act might just play a little role in deciding the extent of his sentence. If you still need more clarification, you can PM. Your platform is a unique one that I have not come across yet in the crypto projects already launched but in doing it, its better to do it the right way and contribute your own quota in adding some positive feedback to the name of crypto to the outside community. |
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Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...
Its not out of place to see some trend in the direction of prices of the entire cypto market. I have equally observed that, in the past when there is increase in the price of bitcoin, other major coins tend to move in that direction and the same thing happen when there is a fall in market price but what is happening during this period has invalidated that theory and assumption because not only is the price of major alt coins that move in the same direction stagnant, they have been witnessing some reverse in price to the extent that a trader keeping any of this coins would not see any significant increase in the value of his portfolio as the increase in one is compensated by the drop of the other or others in the portfolio. I feel its a good one for the market on the average that people are looking beyond the top 10 altcoins to invest or the top 5 altcoins to bring a decent return but they are only relying on the popularity of bitcoin as they move together. Its high time they started to run their own race because even with the current scenario, there have been some alts not within the range of attention witnessing some gradual positives. |
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This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value. Why bitcoin may soon be worth nothing: I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away. Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of the year. I use the term “worth” cautiously because bitcoin is really worth nothing, since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something. Got it! Ponzi scheme. Confidence game. Fraud. Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when. Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/You have done well in that even if you are an enthusiast, for the mere fact of bring such discouraging news to the forum shows that you are doing more in promoting the prediction of the article than you imagine as this could cause a spike in the mind of one newbie that is trying hard to get a footing and for a article to have been linked to New York times would give it the publicity and credibility to cause the intended panic of the writer. I am however glad that since the time this was posted, the market has rendered this impotent just like every other article that have been written against the continued popularity of bitcoin and when we face another downward there would be more of this and we will still prove them wrong. |
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I am not surprised at this analysis because any time there is a change in the normal status quo, there is always someone wanting to claim credit for having all the answers as to what recently happened. I don't understand whether an increase or a decrease, it must surely start by someone or some group of people before others starts falling in line till it will circulate to the entire crypto market and not bitcoin alone. What I see as the most important is the advantage of the scenario that happen last week no matter how short-lived it was. It once again rejuvenate hope in the heart of those that have lost it, hope for those who are the brink of dumping and cutting their losses, hope to those who have given up till the future as to when they can come back to check how things are doing and lessons to those who just decided to dump just few days to the beginning of the run and that is the take out which I am expected to be sustained considering the good recent happenings related to crypto. |
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So here's the case, a friend of mine was doing a tax analysis on his income in the cryptocurrency environment.
He started with roughly 10.000 dollars in 2017, and made a lot of crypto to crypto trades.
In 2017, he owes 70 to 80K in taxes because of these crypto to crypto trades.
In 2018, he owes about 50K in taxes as well.
He is at roughly 100K at the moment in value. That means he has to pay more taxation than he is owning. Is there anything he can do, at all? Any help is much valued.
With my little knowledge of taxation and accounting, I am certain that there is something that your friend is doing wrong because aside the tax law that is applicable to specific subject matter, there is always a tax policy that guides the general tax culture of the country and I have not seen any country whose tax policy would take more than the entire profit of an economic activity, that by default a loss position which most countries would either give loss relief or deffer the payment of tax. What I suggest that you and your friend should do is to either hire a practicing accountant or a tax consultant to do the computation and if you cannot afford one, there is always room for self assessment in which you can consult textbook, or papers that have been written on the subject matter can aid your computations. |
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Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?
Whether regulated market or non-regulated ones, what matter is what is being done in that market because both regulated and unregulated, legal and illegal activities are going on but the assurance that regulated has is just that there is some checks and control when there is need for investigation, it can be traced and evidence can be garnered which makes the discussion to be around having a regulated market place not to eradicate illegal activities, but to put a tight leash around it. From where you come from, there is need for you to really understand the laws of the country because for every law, there is always an exception. Just like mine too, there is a law against owning an account outside the country but this is only restricted to public officers alone like the civil servants and elected officials and not private citizens who have earned their money legitimately to have investment abroad. This also is would bring income to the country because when I invest abroad, I earn income from there which increase the GDP of my home country. Also, there is always a cap of the amount that can be kept abroad without raising any issue of illegality. |
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I have seen this casino advertised around the forum so they are doing a good job at that. I tried to join the signature campaigns but was not selected  I haven't seen anything that classifies this casino as a scam. As a shill of the publicly proven Bitcasino scam and Sportsbet scam you are of course not able to see embezzlement as a criminal offense and being on the Curacao licensing scam operators list is also irrelevant from your point of you. The only relevant part from your point of view is that the victims believe your brain wash nonsense!  I have seen your comments for quite a while but it seems every of the sites that something is complained about is always on your list as a scam site. It then makes me wonder, which sites is not on your scam list from Curacao? Is it only Curacao that can license a gambling site? Are there no other country that can issue license to operate online gambling services? I am not an advocate of FortuneJack but there is need to put things in perspective because its seems virtually all the sites that operates and enjoy reasonable client base from the community here is on that list. SO I BEEN using Frotunejack for like 2 months now, and today for the first time i actually won few rounds in Roulette, so i decided to withdraw my btc, then after 2 denials, i was told that i must play my deposit 2 x over in order to be able to make a withdrawal, i find this policy to be rediculas. and there is no trace on when this policy was added https://fortunejack.com/faq/terms_and_conditions Wagering requirements apply before any deposit made on Member Account can be withdrawn. The deposit amount must be turned over 2 times before your withdrawal request will be approved. Wagering requirements can be met by playing on Slots, casino games and live games.https://imgur.com/a/FN14SRmhttps://www.legalgamblingandthelaw.com/worldwide-gambling-licensing-authorities/government-curacao http://www.curacao-chamber.cw/services/registry/search-company does not return a valid result for the license number provided under 2nd paragraph in terms and conditions was able to find by name Tradename Registration number Official name Businessaddress Nexus Group Enterprises N.V. 139781 Nexus Group Enterprises N.V. Heelsumstraat 51 E-Commerce Park however the managing director of this company 139781 is another company called Name EMS Management Services N.V. Registration number official 141670 who's details are unavailable in the same system. https://www.linkedin.com/company/nexus-group-enterprises/ and here is the crew. more update. ASKGAMBLERS.COM is owned by them too. be aware  I see this as a clear case of misunderstanding and not enough to conclude that the site is scam. Several issues have will happen between service providers and customers but most times its resolved peacefully. For Op I think its a matter of terms and conditions and if they have violated it themselves, they should be reached to provide the explanation for that. I dont think a site like FortuneJack would want to ridicule their reputation because of this. |
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