What will the result be for Trump and the GOP now that they are changing the tax laws on crypto trading? Surely this isn't the end either as Gov can't help but to constantly interfere in our lives and destroy all innovation and demoralize their citizens.
Well for my part, it's this:
1) I will consolidate my holdings into BTC and LTC (likely others will as well which will drive prices sky-high and may kill the Alt market and ICO's By design? Is it easier to attack fewer or more cryptos?).
2) I will NEVER sell them. Ever! Not until the laws change or the dollar dies. Then I'll just spend them. I won't give them the tax revenue.
3) I will NOT be voting for Trump nor will, I suspect, any of his Millennial supporters who are involved in cryptos.
Bitcoin traders face new tax obligations in the US and Russia as authorities keen to get a piece of the action begin ‘tweaking’ laws. As Fortune
and others report today, a tax reform amendment Congress passed this
week will oblige crypto-to-crypto handlers to pay tax on any gains. The
change in the status quo comes as a low-key change in legislation
closes a loophole which previously allowed so-called “like kind
exchanges” to occur tax-free.
All around us we hear of the dangers of crypto currencies by "concerned" governments. They tell us it's a risky asset. A fraud. It will ruin you. But yet, do they really care about you or do they care about their own revenue streams?
Crytpos require you to use your own mind. You must learn about this space and weed through all the fear mongering and determine for yourself if this is a legitimate asset to invest in. Will it survive? I believe so.
Do you have better chances elsewhere? Perhaps in an online Government lottery? The Gov who's looking out for you?
Let's put this in the "A picture speaks a thousand words category".
The truth is friends there are bubbles everywhere. There are so many bubbles everywhere it seems the law of gravity itself has been suspended.
I'm starting to get the sneaking suspicion that what we are really witnessing is a global hyperinflation of ALL assets courtesy of the money printing (aka, global, synchronized recovery [pfffffftttttttt]) by our glorious central banks. May they burn in flames. No I mean it. In a kind, non hate-speech kind of way.
But speaking of bubbles, it seems all you hear about is bubbles in the Crypto space. Bitcoin's (BTC) in a bubble, Litecoin's (LTC) in a bubble, Ethereum (ETH) etc.
With the DOW breaking records every day and the S&P on track to have its first year EVER (YAY!!!) without one single down month and so much speak about bubbles, why do we never hear about that on main stream media (MSM)?
Why do we never hear bubble talk about companies like Amazon, who all things considered have never turned a profit? NEVER!
Let's take a look at a chart of Amazon and I'm just going to leave it at that. They say a picture speaks a thousand words. Or sometimes just thousands of percent.
Wow! Quite a statement from Investopedia, have I picked a winner here?
"Litecoin’s drama-free community and even keel give it less volatility
and a steady trend, making it great for arbitration, trading, spending,
or even fundraising. Savvy cryptocurrency enthusiasts have compared
bitcoin’s market capitalization to Litecoin and done the math based on
its maximum number of coins and other traits and have almost unanimously
declared that it is undervalued. Even so, with much progress being made
on the Lightning Network, Litecoin may one day soon evolve into the
truest form of cryptocurrency yet, and leave the others in the dust."
Bubbles abound and everyone is wondering where BTC, LTC and the cryptos in general get their value. Well, how do we determine their value? As this is a relatively new industry many of these metrics are still being worked out.
In the article below I believe the author Josh Olszewic, does a pretty good job of presenting the Network Utility function of Litecoin.
"Unconfirmed transactions now stand at just over 700, at the time of writing, whereas Bitcoin (BTC) and Ethereum’s (ETH)
unconfirmed transactions are well above 100,000 and 13,000
respectively. 31,000 of the bitcoin transactions have fees set to less than US$0.01, far below the current
appropriate level. These unconfirmed transactions account for 0.87% for
LTC, 1.5% for ETH, and 27% for BTC. The current median fee for LTC is
LTC now has the lowest Network Value to Transactions
ratio among available coins measured, suggesting the coin remains
undervalued based on utility. The metric was devised by Willy Woo and
Chris Burniske and is similar to the traditional Price to Earnings ratio
when selecting stocks."
Here's your WTF chart of the day as we all gaze in amazement at Bitcoin and the failure of the monetary system in real time. When will government intervene with a heavy hand and DESTROY the illusion they have created for the Millenials and Gen Z that there is no danger in the world and markets only go up and Gov is your friend?
Will government try and go back to a gold standard after they have systematically crushed the price with naked short selling and destroyed any semblance of credibility in that market as well?
Will government try and create their own crypto-currency once they have destroyed the dollar and promise all they won't destroy that currency either?
Will government even survive all of this? Will we? Lol! WTF?
Looking at the charts of gold and silver which seem to be meandering around their 50 and 200 day ma's, we see with the dollar it is in a trading range suggestive that it is soon to break out to the 200 dma, currently around 96.66 and falling.
The general consensus is that silver and gold will experience some downward price pressure thru the end of the year. My view is that 2018 is shaping up to be similar to 2016, explosive out of the gate.
Seeking Alpha analyst Geoffrey Caveney forecasts that the “silver” in the world of cryptocurrencies, Litecoin, has the capability to become one of the best investing options in the market.
Caveney’s prediction is based on the fact that the digital
currency is one of the three virtual currencies that are being supported
to be traded on Coinbase, which is arguably the most famous exchange
cryptocurrency platform as of August 2017.
Israel Vows Expulsion or Imprisonment for Africans Who do Not Leave Israel
"Israel’s Prime Minister Binyamin Netanyahu warned Sunday of the need to
prevent “illegal infiltrators flooding the country,” According to the
country’s Army Radio.
“If we don’t stop their entry, the problem that currently stands at
60,000 could grow to 600,000, and that threatens our existence as a
Jewish and democratic state,” he said at the weekly cabinet meeting,
held this week at Ammunition Hill in honor of Jerusalem Day.
The fence on the border with Egypt would be completed by October,
Netanyahu added, with the exception of a mountainous area near Eilat.
Israel’s tiny African migrant population of around 50,000 has become a
hot-button issue over the past two years, and particularly in recent
Israel’s Interior minister Eli Yishai says African migrants should be
jailed or expelled."
So, ok, I get it. They don't want to be overrun. Who would?But what's this all about?:
So Europe won't survive without multi-culturalism but Israel will be destroyed by it? A strange world we live in.
One Statistics Professor Was Just Banned By Google: Here Is His Story
Statistics professor Salil Mehta, adjunct professor at Columbia and Georgetown who teaches probability and data science and whose work has appeared on this website on numerous prior occasions, was banned by Google on Friday.
A special message for Matthew Prince, CEO of Cloudfare who apparently, in a bad mood one day, decided to shut down the website of the controversial Dailystormer. Matthew thinks that he is above the Constitution and free speech kind of like these people:
This has gone on for far too long. This is systemic and cannot be tolerated. If you don't see a problem here you've been properly indoctrinated into the liberal, progressive mindset we see today that wants trans men using the same bathroom as little girls. You're sick and need counseling.
In case you weren't aware there was a police shooting recently in Minnesota by a Somali police officer shooting an unarmed, robed, white woman from Australia.
What's the response from the community? You won't even believe it. Actually, maybe you will. These are a people that will ignore facts because they believe they are in a race war against whites. The only ones who won't acknowledge are the idiot whites out there who are to cowardly to look at the truth and who refuse to put down the Doritos and pop.
"As a fork of bitcoin and pursuing an independent path, litecoin could
supplant the world’s most valuable cryptocurrency as it gains traction
in terms of adoption, trading interest and development activity.
Litecoin Exceeds Bitcoin on Volume Terms
The altcoin recently saw a large influx of volume, pushing above 50 percent of the cryptocurrency’s market capitalization and above trading volumes for bitcoin on June 17.
At the time of writing, the past 24 hour volume for litecoin and
bitcoin are similar, roughly $1.2 billion. The lion’s share of volume is
coming from two Chinese exchanges, Huobi and OKCoin, accounting for
over 40 percent of the volume over the past 24 hours."
Found this on YouTube. Something like this is very compelling and why people wouldn't do it is beyond me. If you have some land or even smaller space you could scale down with this could shave thousands off of your annual spending budget for food.
I'm tired of this. And Justin Simien can go to hell for saying that white people's response to this video is why the series should exist. This kind of "cart before the horse" logic is pissing a lot of people of and Netflix can go pound sand. I will not tolerate this in my household.
And keep one thing in mind, George Soros is a major stockholder of Netflix.
"In a striking announcement by John Bercow, the speaker of the British
House of Commons, Donald Trump is to be barred from giving a historic
address in Westminster Hall, the British Parliament's grandest and most
Bercow announced he would not give the US President permission to
speak in the 11th Century Westminster Hall when he makes a state visit.
John Bercow slammed Trump for "racism and sexism", his undermining of
judges and his migrant ban. Bercow's intervention is unusual because
Speakers are expected to remain above Parliament's partisan fray."
Labour leader Jeremy Corbyn tweeted: "Well said John Bercow. We must
stand up for our country's values. Trump's State Visit should not go
Wow. All the sudden Parliament has values? And are they the body that produces values and disseminates those to the people? Or do the people inform their government what those values are?
This is astounding coming from Parliament as the city of London, the corruption capital of the world, continues to loot their own people and the peoples of the world through "financialization".
How many in Parliament are involved in the pedophile ring that is currently being investigated?
When Britain is overrun with Muslims (as London is now lost) and they are pleading for our help to save them from their own liberal ways, we should remember this day.
Let us also remember Britain when we renegotiate trade deals after they depart the EU. Perhaps we should cut them off financially and militarily until they are ready to sit down at "the table". That table of course being right in Westminster!
Witness Germany continue to fall into their authoritarian past. This is just ridiculous and all Germans should be shamed. The German people slowly built their reputation back up after WWII and are throwing it all out the window these last years.
They're being overrun with bureaucrats and muslims and liberals and commies and now this?
"Gold’s had a roller-coaster year, surging as much as 30 percent before
giving up the bulk of those gains. But one trend has been consistent:
mining companies are finding it harder to dig up more of the precious
"Even though producers’ exploration budgets surged more than 10-fold to
$6 billion a year in the decade to 2012, new finds are in decline. The
amount of gold discovered last year was down 85 percent compared with
Sometimes I feel that this is going to be the story the powers that be will use to cover up the manipulation and suppression of gold. It must end one day but the manipulators have their talons deep in the carcass of the COMEX and LBMA.
In my opinion Obama can't leave the office fast enough. Billions throughout the world feel this way. Obama will go down as THE WORST president ever. Everything he did defied the will of the people. It's amazing he has any support whatsoever. What's more fascinating are all the people crying that Trump is going to lead us into a war with Russia as Obama keeps poking the bear! WTF?! The left makes no sense nor will they ever because they are insane.
So it's fitting that Obomber leaves on the following note.
As it began so it will finish.
Putting the exclamation point on a trend that has marked Obama's entire presidency, in the final Obama jobs report, the BLS announced that
the total number of people not in the labor force grew once more,
rising by 18,000 in December, and a whopping 841,000 in the past three
months, to a new all time high of 95.102 million Americans no longer in
My background post BS was recruiting engineers for the automotive industry and then I moved on to finance. I had started investing for the first time during the .com boom and did quite well in very short order, thank you. And just as fast got burned. Being in finance I HAD to learn the markets in order to communicate with my high profile clients. Way leads to way and losses outweighing gains led me to understand how rigged the markets are. That's what led me to silver. That's now my goal, to teach others what I have learned.
All information provided on this blog are the personal opinion of the author. I am not a financial advisor nor do I promote the use of them save a very select few. All individuals are responsible for thier own decisions and I encourage all individuals to make decisions based on their own due diligence pertinent to their needs and comfort level. Knowledge just may be your salvation.