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I'm a long time bitcoin fan that mined my first coins on a laptop in 2009. Then lost most of it to the gox.

I think the most exciting things are being discussed between politicians, federal & state regulatory bodies in the US. Look up Cynthia Lummis, Elizabeth Warren, Wyoming, and right to mine laws.

Ripple looks like they will lose their SEC case, bad for crypto but nothing to bitcoin. This would set a precedent for unregistered digital securities by making them adhere to standard securities. Doge coin, for example, would need to file documents with the SEC and release proper reports on its business dealings, ouch.

Grayscale seems to be making a good case for a bitcoin spot etf, which would give VCs and investors a place to gamble paper bitcoin instead. This would have the same impact as a gold spot etf, and potentially helps Mrs Longs bitcoin based bank pass the federal reserve board.

Here is a good site for technical news:

https://bitcoinops.org/

Is Matthew Kratter on here yet? He is like the "Casey" Kasem of Bitcoin, unregistered digital securities, and macroeconomics news.

No, the Fed won't allow any entity other than central banks to interact with their coin. The central banks will have to decide which digital currencies will be allowed and then they will have to sell them to the people. You know, the same people they told 2 years ago that they wouldn't need a digital currency. Then they will run into the technical issues bitcoin went through in it's early years. I wish them the best of luck, it will be a never ending hackathon.

The sticky backends are still running financial services on z machines and other mainframes. Things running IMS, CICS, DB2, enterprise extender connections, etc. People would be surprised by how much of the financial world is still dominated by these things, although AI and automation type systems work pretty well on this systems.

There are still a lot of mid-range groups running on cloud services in other data centers but most are still interacting with transactional subsystems running on some kind of mainframe.

These mainframes are still a backbone infrastructure for States and cities as well. Capturing multiple workloads from many agencies throughout States too.

Your banking app lets you click pay, while something in-between sends a request to a cobol transaction to create the change and updates a database.

I'd be shocked if they can get that replaced by 2030.

A run on binance seems likely. I wouldn't be surprised if they begin freezing accounts this month. Then a "hack" will hit, complete with rug_pull, followed by cz, et al. moving to a nonextradition countries. I could be wrong but those always seem to be the events for failing unregulated exchanges with their own tokens and unregulated securities.

I'm stocked up on popcorn and cheese seasoning though, just in case.

Any bets on a 50 basis point hike?

No freaking way they reach 2% during a war and spending more than their gdp. Maybe they are using too much grey hair coloring, just-for-feds brand.

Soul Asylum's Runaway Train is blasting at full volume inside Norfolk HQ. That what I heard anyways.

France's unions aren't messing about. These old suits think they can raise the retirement age and people will just kneel to them? Macron is about to find out the hard way, people don't work like that no more.

Replying to Avatar Anonymous

NFT designer arrested for allegedly evading crypto tax in Israel

A prominent designer based in Tel Aviv was arrested on Sunday by Israeli authorities for allegedly failing to disclose cryptocurrency earnings in tax reports, according to the Jerusalem Post.

Ben Benhorin, a digital artist and owner of independent studio Wuwa, creates generative code-based art and sells pieces on its OpenSea. Benhorin has minted numerous NFTs on the platform over the past few years — one was originally listed at 9 ETH (worth $14,700 at press time).

Benhorin has an extensive work history with top digital firms. He was previously the head of design at DeviantArt, a design exec at website developer Wix, and a VP at Yotpo, an ecommerce marketing platform.

Israel makes example out of Benhorin in bid to recoup lost crypto tax

Israel’s government is looking closely at crypto regulation. Its Ministry of Finance published recommendations for how to regulate digital assets in November. Proposals mainly focused on the taxation of crypto — according to Israel’s tax authority, uncollected crypto taxes between 2019 and 2022 could be worth several billion shekels. One billion shekels is worth $273 million dollars at press time.

As part of the investigation, a court order was given to search Benhorin’s house, where documents, cell phones, and a crypto wallet were seized. Benhorin apparently made 3 million shekels ($819,000) in income from NFT sales and didn’t report the conversion of 30 ETH ($49,000) that he received in exchange for them. Revenues from NFT sales were then supposedly converted to other cryptocurrencies via Uniswap. According to Israel’s tax authority, the act is considered a sale and therefore subject to capital gains tax.

- Capital gains in Israel are taxed at 25%.

- However, if it’s considered a business expense, the tax rate can be up to 53%.

- When cryptocurrencies are converted to a traditional currency, the difference in the amounts (paid and purchased) is used for tax purposes.

These unreported funds were then said to have been transferred between wallets, including cold wallets, which authorities say raised suspicions of property concealment — an offence under Israel’s anti-money laundering laws.

Benhorin’s professional career in design has likely allowed authorities to classify the sales of NFTs as part of his income. The artist is also a department head and senior lecturer at Shenkar College in Tel Aviv.

Benhorin has been released by the Tel Aviv Magristrate’s Court under restrictive conditions while authorities continue their investigation. Protos has reached out to Benhorin, who has yet to respond.

Doesn't surprise me...

If anyone was wondering how government controlled digital currencies or cbdc's would come out against bitcoin, here is the answer. Still the same outcome as cash.

BSD went digital in 2020. It keeps parity with usd but is more like a polygraph test chart when compared to the eur usd parity charts.

I wish these suits good luck, they will need it.

Not that we should trust a government appendage with zero government involvement, but it is important to read nonetheless. When anyone says bitcoin did "xyz" because of "abc" try to remember this report.

https://www.newyorkfed.org/research/staff_reports/sr1052

It's amazing that this line will never cross the x axis. It will just keep getting closer and closer.

Someone said people can track others with them, but I don't know that for certain.

14g of Cinnamon Buddha and a pre roll of some sativa. Malt liquor is my drink of choice, it's an acquired taste.

I can't tell the difference anymore. A little weed some alcohol and a censorship resistant social media platform is one hell of a drug.