Why are Cyrptos down?
Everyone was making such a big deal about Google, and BOOKFACE banning the advertising of ICOs. Who really cares, that will probably be better for the cyrpto world anyway. Taking out the scams will make a healthier market, and will give it more legitimacy if people are not buying these crap coins, and getting scammed. But Amazon could actually have a huge bump for them, by accepting them as a payment, but we will wait to see if that happens. Especially with their new partnership with Visa I believe. But what was the motive of Google and Facebook's move? Was it a move of self-preservation? They have never really been challenged as a market leaders, and in many aspects have a monopoly that they are trying to protect.
I think the latest down turn has more to do with the Tax man, and the fact that the IRS is going to make this a point of focus. Coupled with the fact that Coinbase was forced to become a Narc and send out all the info on its accounts since 2015, probably has a lot of people worried, and they are getting cash on had. No one wants to become the next Wesley Snipes.
I know that the majority of people are of the opinion that the crypto world is a place weee they can be anonymousand escape the long hand of the tax man but I think we would be naive to think that the government won’t do everything in its power to get “it’s” shares. There have always been the big two certainties in life and that hasn’t changed yet. Death and taxes!
I believe there is a saying, Only thing that is guaranteed is Death and Taxes.... If it was possible it would be death and avoiding taxes. haha.
Invaluable information and knowing about these resources, we learn more cryptography! Many thanks
That's a new and refreshing perspective. It could slow down proliferation, but if it's the higher-quality ones that make it, it should be better for the crypto space. Yeah, the tax implications are all pretty confusing at this point.
I have spent days talking to some people about it, and most tax accountants are so confused, like what did you just say.
So what did you end up doing?
I decided to go have a baby for a write off..... I haven't filled yet, but not sure. Will let you know
yeah great thinking
you tell right
I think you're right it is a good thing ultimately but I think its bad that the media always portrays FUD like doomsday. BTC will be back. Its the market standard everything else value is based upon. It has by far the largest most secure decentralized public blockchain and all the best technology we use today and will be using in the near future comes from their Dev team. They have what it takes to succeed and once one large entity figures that out (BOJ, Visa, investment entity, government), the wave of acceptance will begin. HODL
I really think there is a long term space/niche in global economics for cryptocurrencies.
Perhaps some old giants may not remain after some time, but cryptocurrencies as it has emerged and proliferated has a longer lifespan than most anxious people may think at this point. (the end of crypto is not 2018)
Ya I hope not, I still own a bunch of them.
Very useful information and knowing about these resources, we learn more about cryptography! Thank you
No lies, I also look forward to that time the coins would be accepted. About google and facebook, that's what they are actually doing but I don't think they it, my opinion though.
Nice update buddy
I never actually thought about the possible positives of the situation. But now that you point it out it is interesting to think about. I'm wondering whether the end of Bitcoin is close... I think cryptos will be here forever, but Bitcoin? I'm not sure how much longer it has.
I think that Facebook and Google are scared that they are/will lose power to successful blockchain ventures in the future so want to make it as hard as possible for them to become known to the general public.
FIGHT THE MACHINE!