Tuesday, January 25, 2022

Bitcoin Segwit Activation-The Gold Cartels Worst Nightmare

by Andy Hoffman, Miles Franklin:
Not that its experience is any different from the countless “empires” that destroyed themselves from within; but let’s face it, America is rapidly morphing into a Banana Republic.

And not just in terms of its monetary policy – as the leader, in the “race to the bottom,” of the terminal phase of history’s largest; most destructive; and for the first time, global; fiat Ponzi scheme. Unfortunately, the symptoms of the disease are widespread, affecting the political, economic, and social landscape – all by-products of the complacency, self-indulgence, and arrogance created by the false sense of superiority the “reserve currency” issuer temporarily enjoys, in ephemerally living far above its means. Unfortunately, aside from the inexorable secular headwinds pounding against America’s rapidly waning dominance – like the global population explosion, unfavorable demographic trends, and synchronous worldwide information dissemination – America’s exposure to the gargantuan, historic cyclical downturn its own policies caused, is as broad, and systematically dangerous, as any nation’s. And not just absolutely; but more importantly, relative to the sky-high, “sixth sigma” standard of living its fleeting stint as reserve currency issuer has enabled.

How Iran Can Use Bitcoin to Avoid US Sanctions

by Mish Shedlock, The Maven:

Effective Nov. 4, Trump demands all trade with Iran to cease. Iran can potentially use Bitcoin as a workaround.

Kevin Lawton – Cryptos Are Speculation Not Currency

from Greg Hunter:

Kevin Lawton, recently wrote a Kindle short titled “Beyond the Bitcoin Trap: A Crypto Currency for Human 2.0” predicts, “This year is going to be the year of volatility in Bitcoin price. I expect liquidations, but it’s like a tug of war. There are reasons for people to tug the price up . . . then on the regulatory side, for example, prices could go down.

Japan Officially Removes Taxes from Purchase and Sale of Bitcoin

by Kenneth Schortgen, The Daily Economist:
On July 1, a new law went into effect which removes all taxation from the buying and selling of Bitcoin in the nation of Japan. And with their already having recognized the cryptocurrency as a viable medium of exchange within their monetary system, the world’s third largest economy has moved another step closer to recognizing Bitcoin as a legitimate currency.

Japan’s tax reform bill which officially eliminated consumption tax on the sale of Bitcoin came into effect on July 1. Bitcoin trading activities are expected to rise in Japan following the activation of the bill.

IRS Scales Back Tax Investigations Into Bitcoin Owners… for Now

1

by Kenneth Schortgen, The Daily Economist:
One of the most confusing things about the rise of cryptocurrencies is that most countries at the present time are implementing different rules and regulations regarding their ownership, taxation, and even definition. For example, the country of Japan has gone full bore into cryptocurrencies, even passing laws that legitimize Bitcoin as a medium of exchange while also removing any tax obligations on its purchase or use. Yet over in the U.S., a court ruling calling Bitcoin a security is the current standard, and means that transactions in the cryptocurrency are to be designated as property, and subject to capital gains taxes.

Bitcoin, Bubbles, Gold, and Silver

by Darryl Robert Schoon, Gold Seek:

In January 2009, when bitcoin was released, its value was “basically nothing” ~wikipedia.  Eight years later in January 2017, bitcoin was at $986 and in December reached $19,783, an astounding one-year rise of 1,900 %, outperforming the 1,500 % historic increase in the Dow from 1982 – 2000. In 2018, bitcoin lost 66 % of its value.

Bitcoin’s spectacular rise and fall was the largest speculative bubble in history; an ignominious distinction for cryptocurrencies, a new form of money many hoped would replace fiat currencies, historically subject to government overissuence, hyperinflation and economic and political collapse,

Is Facebook’s Ban On Crypto Ads In Anticipation Of A Litecoin Integration

0

from Zero Hedge:

In early January rumors started spreading about whether Facebook would either adopt Litecoin or create its own cryptocurrency. On Tuesday, Facebook announced that it would block all cryptocurrency and ICO advertising on its platform.

Coincidence? Let’s look at the details.

Between December 6th and 17th of 2017, Litecoin (LTC) tripled in value, from $102.93 to $360.66 according to CoinGecko. Three days after it started to decline from its all-time-high, Charlie Lee, the founder of Litecoin announced that he sold off all of his LTC. Since then,Litecoin has been on a mostly downward trend and currently sits at $159.50.

There has been some speculation about whether Lee’s sell-off had an impact on the prices of Litecoin, and there have even been accusations of insider trading, given that he was the Director of Engineering at Coinbase. He denies these allegations and explained that his decision to dump his LTC was to remove any sort of conflict of interest between his influence and any potential gains. Taking the financial gains out of the equation, it stands to reason that Lee may now tweet more freely about his thoughts while focusing on his skills as an engineer.

At the time that Lee sold off his LTC, Coinbase announced the appointment of Facebook executive, David Marcus to their board of directors. David Marcus is the Head of Messenger at Facebook, with expertise in mobile-first products. Prior to that, he was President of PayPal, where he accelerated the overall growth of the company. The appointment of Marcus to the Coinbase board of directors sparked some speculation.

Tom Luongo published the story on December 20, which was later picked up by Zero Hedge and various other publications. According to Luongo, Charlie’s announcement prompted a big sell-off in the wake of Coinbase adding Bitcoin Cash (BCH) to its platform. He saw the negative response from the market as temporary, though Litecoin is still on a decline.

From a technology standpoint however, it’s a promising coin. It’s lighter, faster and cheaper than Bitcoin, is fully capable of smart contracts and according to Luongo, it has a “payment processing layer to facilitate point-of-sale convenience while retaining proof-of-work security.” It has the sort of technology built into it that an organization like Facebook might find appealing.

Two weeks after this speculative article came out, Mark Zuckerberg announced that he’s “looking into cryptocurrency.” In his January 5th announcement on Facebook, Zuckerberg said:

“Back in the 1990s and 2000s, most people believed technology would be a decentralizing force. But today, many people have lost faith in that promise. With the rise of a small number of big tech companies – and governments using technology to watch their citizens – many people now believe technology only centralizes power rather than decentralizes it. There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

This brings us to today. According to a CNBC article by Kurt Wagner, “Facebook is banning all ads that promote cryptocurrencies, including bitcoin, in an effort to prevent people from advertising what the company is calling ‘financial products and services frequently associated with misleading or deceptive promotional practices.'” In other words, if you launch an ICO, or want to promote a cryptocurrency-related group or business, you’re probably out of luck, no matter how legitimate your business is.

Litecoin founder Charlie Lee previously tweeted that in 2018 there will be “One huge unexpected surprise.”

Read More @ ZeroHedge.com

Keiser Report: Bitcoin instead of US dollar? (E1241)

from RT:

In the second half, Max interviews Tone Vays of the Crypto Scam podcast about bitcoin prices, technical analysis and the need to exclude some from being allowed to buy tokens and other crypto assets.

The Global Landscape on Vaccine ID Passports Part 4: BLOCKCHAINED

by Corey Lynn, Corey’s Digs:

Let’s get right to it because there’s a lot to cover. Part 3 tackled the key implementers of the digital identity being assembled through the vaccine id passports, revealing the true agenda. Part 2 broke down the who, what, when, where, why, and how. It’s good to understand what’s at stake and who’s behind it, before diving into part 4. Blockchained will cover some of the most important aspects of this entire agenda against all of humanity.