Why we need to stop supporting BS people and projects
Ever since 2017 we ran into a ton of crap coins that literally said they where crap coins and to not invest in them. Yet millions where pumped into them. Those are finally being cleared out of the crypto space which is good news so we can push forward funds into legitimate projects.
However there are still some projects that are putting on a big face yet their true actions should make you seriously question what is going on.
For example Tron founder Justin Sun just recently backed out of the 4.6 million dollar lunch with Warren Buffett and is now being accused of stiffing the founder of BitTorrent. While these "actors" Keep putting on big flashing lights for the show their real actions should actually spell something seriously scary about why you should never trust a cryptocurrency with a central figure head. While I am sure there are one or two legitimate people in the investment world you will quickly find out that a majority of people are crooked as hell.
In other news Facebook is being sued yet again this time by a group in Australia which are blaming Facebook for causing massive issues with cryptocurrency. They base this on their inability to promote crypto ads on Facebook even though they have now publicly announced they are attempting to launch their own.
In US laws I believe this would fall under a monopoly and other issues in terms of repressing other business to compete with them. (not a lawyer but to me it seems very wrong their actions)
For the last bit of news the IRS is now sending warning lettings to cryptocurrency owners. So if you haven't been paying your crypto taxes you very well most likely are being tracked and could own some serious fines. It seems like they now have records on these people backing to 2014.
Overall the news on cryptocurrency seems rather blah and I expect some more down turn because of it.
It seems to me that a rather ambiguous position on the part of government administrations is adopted. On the one hand they claim that cryptography is not real money (recently Donald Trump said it) and on the other they intend to collect taxes applied to it.
I honestly do not understand.
Seems like the traditional side has reverted back to flooding the newswires with FUD to keep cryptocurrencies tamed. I am ok with that as it given me more time to buy more!
Dear @bitcoinflood
Great piece of work buddy. Loved reading it. I strongly believe it's one of those publications worth sharing with others. I hope you don't mind that I will boost some traffic.
Indeed clearing out crypto space should still be our priority. If mass media will start talking again about this market, then those projects can show entire industry as unprofessional.
Big question:
what kind of person would you think you are? I'm very curious if you're self-aware of your own personallity.
I IRS so effective?
I wonder if people who used their own legitimate money to purchase bitcoin and then exchange it to STEEM; those people who put 5k usd into something that is worth less than 1k usd right now; those people who are staking their STEEM and trying to use it to build their influence on platform.
Would those people need to be afraid of any fines? Please share with me what do you think.
Yours
Piotr
Hello @bitcoinflood. I guess governments will get they part through taxes in the near future. IRS having records from 2014 is a little bit scary.
Btw, There's an article about Libra announcing is a plagiarism from an MIT project. Maybe it is. I'll be following you
Thanks for sharing 😊
Please consider removing the CCC tag. While this is a perfectly good article it doesn't fit well with the idea of Creative.
ops I had forgotten ccc was creative couldn't remember just saw it in my list. Ill be sure for future ty
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Hi, @bitcoinflood!
You just got a 15.66% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
To me this is one of the advantages of steem. We are fully decentralized and we are definately not bs. Being an application specific blockchain means that the use case for steem is baked in the cake.