FED start to monitor Crypto movement

tombort (50)in #cryptocurriences • 7 years ago

Federal reserve bank start to worry that masses chose to purr their money and wealth into crypto currencies world.

FED Vice Chairman of Supervision, Randal K. Quarles states that

the regulator considered the possible implications of digital currencies during times of crisis. Recalling runs on major banks, and the reasons for founding the Federal Reserve, Quarles made it clear that the lack of supervision over cryptocurrencies should destabilize financial institutions.

This quote is from Cointelegraph article: Fed Spokesman Warns Against Cryptocurrencies, Suggests Banks As Solution.

Banksters start to realize that threat is posed. They start to compose strategies to fearlessly defend their financial strongholds.

Scenario i describe in my last post What is money and what is crypto? is start rolling.

President of USA monitoring the situation. and IRS start to investigate people. One of more secure places to put you funds in is Bitshares DEX (decentralized exchange). It have clear advantage over more conventional centralized exchanges running on servers conected to internet. This places are vulnerable to Ddos attaches and hacks of personal data including private wallet keys. Hackers can steal funds easily.

I wrote about pros and cons of Bitshares in Why IRS can bust you on centralized exchanges and not on Bitshares!

----------------

Comment and present your views! Great ideas emerge from good quality discussion! I'll be immensely grateful for your contribution.

And as always upvote this post and previous ones, if it have some value,follow me, if you think this content is great and I promise that it will be more interesting stuff in the future.

Let make Bitshares great! https://bitshares.org/

Accept donations on my Bitshares account tombort99 in BTS to support me in spreading knowledge about Bitshares.

#bitshares #fed #slovenia

7 years ago in #cryptocurriences by tombort (50)

Sort:

ramanbindlish (40) 7 years ago

I guess it will be almost impossible for IRS to track all the transactions in various exchanges that do not deal with USD. The max they can go after is fiat exchanges and if you transfer your crypto from fiat exchanges as soon as you buy them, it will be impossible for IRS to track it

$0.05

2 votes

[-]

tombort (50) 7 years ago

Yes this is the best strategy. If you by crypto with dollars or other fiat which is already tax free. (You earn them and pay income tax) this is not IRS business any more.
If you put funds then on, for instance, Bitshares DEX and trade there, they can't track your transactions.

When you put funds on Bitshares blockchain they are safe there, it can't be hacked and stolen.

You can do pretty nice trading there using pegged asserts for USD or EUR. More about that stuff you can read in https://bitshares.org/technology/price-stable-cryptocurrencies/. It's a little tricky to comprehend, but when you get it in nice stuff.

When you satisfied with your income and profits you can pull funds back to fiat. When report taxes, you are in charge how and how many profits you report and when. It is like that you enter another state with your capital and when you're done, you come home with your profits.

Crypto world is our cyber motherland. This is awsome!!!

$0.00

[-]