Bitcoins/Litecoins/Virtual Currencies

James

Ahn'Qiraj Raider
2,804
7,054
54d 20h 48m
Yeah, its awful how people react negatively to people who brag about money on an internet forum, and unironically use the term "flex"

Wow, did I hit a nerve calling people communist for eschewing luxury goods because they feel it has no use case? How would you describe those kinds of people?
 
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Flobee

Blackwing Lair Raider
1,952
2,514
85d 17h 8m
Nation state game theory is playing out


Ukraine is gearing up to make Bitcoin legal tender, experts believe.

It is understood delegates from President Volodymyr Zelensky’s government have met with counterparts in El Salvador ahead of creating a plan to put cryptocurrency adoption at the top of the eastern European giant’s financial agenda.

Zelensky – a vocal Bitcoin evangelist – has already instructed ministers to transform Ukraine into a crypto-friendly nation.

Last week, the 43-year-old politician was in California on a fact-finding mission as he toured Silicon Valley, exploring opportunities where Ukraine can swiftly navigate itself into positioning digital assets alongside its traditional currency.

The plan, says Professor Vyacheslav Evgenyev, is for Ukraine to make Bitcoin legal tender by the start of 2023 and create a “duel-currency country” where Bitcoin sits alongside the fiat hryvnia before potentially being phased in as the dominant financial structure.

“Ukraine is a natural fit for such a plan,” said the Russian financial expert.

“The people of the Ukraine are not only prepared for a financial revolution, they are also used to it and expect it.”

The hryvnia, 25 years ago this week, replaced karbovanets in a secretive financial overhaul that still doesn’t sit well with Ukrainians to this day.

“You need to look at the dynamic of Ukraine to understand how and why its government’s plan to restructure towards a digital economy could actually be a real stroke of genius,” Prof Evgenyev explained.

“It has a young population eager to move out of the shadow of its noisy neighbour and shake off the financial chains which have restrained it for so many years.

“Russia’s overbearing influence in the concerns of Ukraine could prove to be the fuel to it needed for the engines of success.”

Bitcoin, he believes, may just be the magic potion required to wake a sleeping giant.

“The prospects here are enormous,” the professor adds.

“It has one of the most diverse energy mixes in the world, and has an enviable carbon offset that could draw miners in their thousands.

“Add to that a president who is from the same forge as Bukele, a young population, and a great desire for change and, well, you have a formula that could very easily be very successful, very quickly.”

Indeed, El Salvador’s forward-thinking premier Nayib Bukele may have already had a pressing influence on Zelensky’s hunger to implement his Bitcoin ambitions.

“They have been in constant discussion – sharing ideas, plans and thoughts on the future financial positions of their nations,” Evgenyev says.

“At the same time as when Zelensky was in America last week, a ministerial party of Ukraine’s biggest financial brains was in El Salvador looking very deep into their financial structure to use as a starting point to Ukraine’s blueprint.

“The project will take less than two years to complete, with or without the support of international financial authorities, and will see Bitcoin becoming the dominant currency of Ukraine.”
 

Rajaah

Paperhands McGee
<Gold Donor>
4,208
7,430
40d 1h 37m
MATIC dropped like 10 cents overnight. Urgh. Even with my now much lower cost basis I'm slightly in the red again. Could potentially be a good time to get in on the MATIC action if you aren't and have been waiting for a dip, because 1.25 is pretty damn dipped. YMMV
 

Gravel

Mr. Poopybutthole
25,592
66,082
173d 6h 54m
Nation state game theory is playing out


Ukraine is gearing up to make Bitcoin legal tender, experts believe.

It is understood delegates from President Volodymyr Zelensky’s government have met with counterparts in El Salvador ahead of creating a plan to put cryptocurrency adoption at the top of the eastern European giant’s financial agenda.

Zelensky – a vocal Bitcoin evangelist – has already instructed ministers to transform Ukraine into a crypto-friendly nation.

Last week, the 43-year-old politician was in California on a fact-finding mission as he toured Silicon Valley, exploring opportunities where Ukraine can swiftly navigate itself into positioning digital assets alongside its traditional currency.

The plan, says Professor Vyacheslav Evgenyev, is for Ukraine to make Bitcoin legal tender by the start of 2023 and create a “duel-currency country” where Bitcoin sits alongside the fiat hryvnia before potentially being phased in as the dominant financial structure.

“Ukraine is a natural fit for such a plan,” said the Russian financial expert.

“The people of the Ukraine are not only prepared for a financial revolution, they are also used to it and expect it.”

The hryvnia, 25 years ago this week, replaced karbovanets in a secretive financial overhaul that still doesn’t sit well with Ukrainians to this day.

“You need to look at the dynamic of Ukraine to understand how and why its government’s plan to restructure towards a digital economy could actually be a real stroke of genius,” Prof Evgenyev explained.

“It has a young population eager to move out of the shadow of its noisy neighbour and shake off the financial chains which have restrained it for so many years.

“Russia’s overbearing influence in the concerns of Ukraine could prove to be the fuel to it needed for the engines of success.”

Bitcoin, he believes, may just be the magic potion required to wake a sleeping giant.

“The prospects here are enormous,” the professor adds.

“It has one of the most diverse energy mixes in the world, and has an enviable carbon offset that could draw miners in their thousands.

“Add to that a president who is from the same forge as Bukele, a young population, and a great desire for change and, well, you have a formula that could very easily be very successful, very quickly.”

Indeed, El Salvador’s forward-thinking premier Nayib Bukele may have already had a pressing influence on Zelensky’s hunger to implement his Bitcoin ambitions.

“They have been in constant discussion – sharing ideas, plans and thoughts on the future financial positions of their nations,” Evgenyev says.

“At the same time as when Zelensky was in America last week, a ministerial party of Ukraine’s biggest financial brains was in El Salvador looking very deep into their financial structure to use as a starting point to Ukraine’s blueprint.

“The project will take less than two years to complete, with or without the support of international financial authorities, and will see Bitcoin becoming the dominant currency of Ukraine.”
Duel currency?

Is this like a highlander scenario where eventually everyone on the planet duels until one person holds all the bitcoins?
 

Haus

<Silver Donator>
6,626
20,510
141d 21h 56m
MATIC dropped like 10 cents overnight. Urgh. Even with my now much lower cost basis I'm slightly in the red again. Could potentially be a good time to get in on the MATIC action if you aren't and have been waiting for a dip, because 1.25 is pretty damn dipped. YMMV

The whole market is tending to follow the BTC lead again... So either we're heading down, or there's a general market Bear Trap setting up. Only time will tell...

With that said I'm going to be DCA'ing in some more on the 15th.
 

Torrid

Molten Core Raider
817
372
6d 3h 48m
Bukele either going to get himself suicided, or he's about to catapult El Salvador's economy into relevancy
Not all countries tax capital gains. Some countries have tax law that isn't as ridiculously onerous as the United States.

I wish they'd cancel all taxes except real estate property tax and slap large sales taxes on luxury goods/services and that's it. The government will appraise all land property and mail you a bill every year. Tax sales of yachts 50%. Then the government won't give a fuck how much secret crypto money you have. Will that work? I don't know what I'm talking about so probably not, but a simple tax system that allows for financial privacy is something highly desirable and should be strived for. Instead Biden wants every bank transaction more than $600 reported to the IRS. Land of the free.

Trying to adhere to US tax law while trading crypto is a nightmare. And the nightmare likely won't go away any time soon because US policy is as malleable as a rock. Small wonder a lot of rich people renounce their citizenship. The US is one of only three nations (with Eritrea and Myanmar) that taxes you even when you're not living here if you're a citizen. Much of which is squandered on a useless military that destabilizes the world.
 
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James

Ahn'Qiraj Raider
2,804
7,054
54d 20h 48m
Interesting interview re: Rumble Kongs, they're pushing heavily for renting out the NFT for a chance to play:

 

James

Ahn'Qiraj Raider
2,804
7,054
54d 20h 48m
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Lanx

Nǐ hǎo, yǒu jīn zi ma?
<Prior Amod>
44,970
94,861
MATIC dropped like 10 cents overnight. Urgh. Even with my now much lower cost basis I'm slightly in the red again. Could potentially be a good time to get in on the MATIC action if you aren't and have been waiting for a dip, because 1.25 is pretty damn dipped. YMMV
i mean last week we thought 1.30 was gonna be the low, but it's the great droppening
 

James

Ahn'Qiraj Raider
2,804
7,054
54d 20h 48m
Man I don't know how that Grayscale shit is taxed, are you not considered as holding the underlying asset?