The Law.pl portal published an article that brings us closer to the draft of the new version of the Cryptocurrency Shield. This one is supposed to abolish the PCC tax on cryptocurrencies. Fintek.pl, on the other hand, noticed something quite different last night. What is the truth? We already explain. PCC is a thing of the past? PCC charged on transactions based on cryptocurrencies has caused controversy for a long time. The government understood the nonsense of the provision, but instead of finally changing it, it only extended the tax abatement for more months. That may now change. - The 25th day of the pandemic is passing under the sign of panic of the cryptocurrency industry and it is not at all about the changing prices in the market, but about the legal risks of doing business related to cryptocurrency trading. - lawyer Rafał Prabucki explains to us. - It is hardly surprising, since due to this particular event, which is the proliferation of COVID-19, all the shortcomings of the rulers are much more visible than in the normal everyday functioning of the state. The lack of idea of the rulers on the problem of taxes and cryptocurrencies is also visible now. For example, the loud and controversial issue of the tax on civil law transactions (PCC) has been solved with a temporary abolition - he adds. It appears that the problem may soon disappear. - And while simply delaying the "PCC on crypto" issue seemed reasonable at the time, for 2 years such a state of affairs did not at all result in stabilizing the ground for business of this kind in Poland. Yesterday, the Fintek.pl portal reported that cryptocurrencies will finally be subject to PCC. I do not know what is the source of this information, but from the leaked materials provided by the law.pl website, it appears that, as part of the Anti-Crypto Shield 2.0, Article 13 plans to modify Article 9(1) of the PCC Act by adding to the list therein a point 1a) which reads: "the sale and exchange of virtual currencies within the meaning of Article 2(2)(26) of the Law on Anti-Money Laundering and Terrorist Financing of 1 March 2018 (Journal of Laws of 2019, item 1115, as amended)". Let us add that this is the list of exemptions from PCC. So, after the new law comes into force (I note that it is a draft), the sale and exchange will be exempt from PCC - the lawyer explains to us. In other words, PCC on cryptocurrencies will be completely abolished. Of course, provided that the project reached by prawo.pl is true, and it will come into force in this form. Cryptocurrencies in Poland will strengthen thanks to the crisis? If all this is true (let's add it again: it's a project!), it may turn out that the crisis will somehow strengthen cryptocurrencies in our country. Too bad it's so late... Update: Fintek.pl also debunked its original reports ("However, the opposite is true. Shield 2.0 provides for the exemption of cryptocurrency exchanges from PCC from July 1, 2020."). Tags cryptocurrencies PCC pcc bitcoin pcc tax cryptocurrencies
Thursday, May 27, 2021
PCC on cryptocurrencies will soon be abolished as part of the Shield
DLive is criticized over its coverage of the Capitol attack
The decentralized platform DLive is under heavy criticism after far-right extremists used its services to live stream the storming of the Capitol in the US in recent days. DLive in the hands of extremists? DLive, a decentralized streaming platform that Justin Sun, founder of Tron, bought in December 2019, was recently used by several far-right extremists to live stream their attack on the Capitol. Not only that, the activists in question were also able to collect donations during the broadcast, resulting in the platform being accused of enabling them to raise "hundreds of thousands" of dollars, mostly in cryptocurrencies. According to the Southern Poverty Law Center's Hatewatch blog, at least five accounts on DLive streamed Wednesday's protest live. Additionally, DLive user "Baked Alaska" personally broke into the Capitol building. The real name of "Baked Alaska" is Tim Gionet. Gionet, a former Buzzfeed contributor with strong public support, also attended the August 2017 "Unite the Right" rally in Charlottesville. He was then banned from major platforms, including Twitter and YouTube, for violating their community's terms of service. On Jan. 6, Gionet recorded himself in the Capitol building. He was in the office of U.S. House of Representatives Speaker Nancy Pelosi at the time. The Anchorage Daily News estimates that more than 16,000 viewers watched the broadcast. Her character received donations from viewers totaling $222 (contributed by 200 donors). Hatewatch notes: "DLive has paid out hundreds of thousands of dollars to extremists, mostly through donations in cryptocurrencies, a service built into the site." And in November, the blog reported that white nationalist Nick Fuentes, who was also instrumental in the "Stop the Steal" protests that led to the break-in of the Capitol building, was "making money thanks to DLive," with the funds "equivalent to a six-figure salary." Response DLive responded quickly to the recent events, tweeting that it "does not tolerate illegal activity or violence" and encouraging users to report channels that violate its community guidelines. Tags Blockchain dlive Capitol
Turkey's central bank has banned cryptocurrency payments
Turkey's central bank has banned the use of cryptocurrencies in payments, saying these carry significant risks due to volatile exchange rates. Turkey's central bank has banned cryptocurrency payments The bank conveyed that cryptocurrencies were "not subject to any regulatory and supervisory mechanisms or central regulatory authority." The official statement added that a "regulation on not using cryptocurrencies in payments" was issued. The move comes after months of economic turmoil culminating in the resignation of the central bank governor. The announcement added that cryptocurrencies: are not subject to any regulatory or supervisory mechanism or central regulator, have market values that may be excessively volatile, may be used in illegal activities due to their anonymous structure, may be stolen or used illegally without the consent of their holders. Turkey's problems The country's central bank has struggled to control the fall of the lira in recent months and in yesterday's announcement it decided to keep interest rates at sky-high levels as high as 19%. The situation is not improved by politicians. President Erdogan's decision to appoint a new bank president last month has raised concerns among investors that Turkey will maintain too loose a monetary policy in the face of accelerating inflation and a weak lira. Other countries have already banned cryptocurrencies from payments, including Russia and China. The Middle Kingdom decided to do so back in 2017. How has the cryptocurrency community reacted to the issue? Prominent investor Anthony Pompliano wrote that Bitcoin (BTC) was "winning in a free market, so governments and central banks are trying to rig the rules of the game." - This is irrelevant. Adoption continues unabated in these countries," he added. Entrepreneur Jeff Booth said that "there's no better signal that you need Bitcoin than central banks trying to ban it." He added: "My bet is that adoption is accelerating." Some experts and market watchers have long speculated that attacks on cryptocurrencies will become more frequent in countries with "weaker" fiat currencies. It's not hard to see Turkey's new decision as an act of desperation as the lira continues its downward trend. Tags bitcoin btc cryptocurrencies payments Turkey turkish central bank
Crypto.com: Stake-to-Take program, $10,000 CRO USD to win, BTC syndicate (50% discount on cryptocurrency purchases)
Once again, we present to you what happened in the world of Crypto.com. Stake-to-Take Program Crypto.com is launching a Stake-to-Take program where users are rewarded in CRO for trading on the Crypto.com exchange. They can already earn up to 0.10 percent taker commission when they trade on the exchange, and get additional trade discounts with the amount of CRO stake. The minimum stake requirement has been reduced by 50 percent to 5,000 CRO for both individual and institutional clients. This makes it easier to qualify for additional trade discounts. In short: the more CRO you stake, the higher rebates you will receive. 10,000 CRO USD to win Following the successful launch of the new Stake-to-Take feature, Crypto.com is also allowing users to tap into their markets for a chance to win up to $10,000 in CRO. The total prize pool of $200,000 will be distributed as follows: The first 1,000 qualifying participants will receive a CRO prize worth $100 each. Eligible participants with the highest taker volume by the end of the campaign will receive an additional prize of: - Place 1: CRO worth USD 10000, - Places 2-10: CRO worth USD 2000, - Place 11-100: CRO worth USD 800. Campaign Schedule: Start: Monday, August 31, 2020 at 09:00 UTC time End: Wednesday, September 30, 2020 at 09:00 UTC time Details here. BTC Syndicate on Crypto.com Crypto.com is pleased to present another special syndication offer. This time it is all about Bitcoin syndication. This means that you will be able to purchase coins at a discount. The event will begin on Tuesday, September 8, 2020 at 6:00 UTC on the Crypto.com exchange. Below is the timeline explaining the promotion: In the event that the total value of all contributions exceeds the number of tokens allocated for the promotion, the allocation for each participant will be calculated using the formula below: More on this topic can be found here. Automated purchases LINK Crypto.com app users can automate their Chainlink (LINK) purchases on a weekly, bi-weekly and monthly basis for as little as $50. Supported cryptocurrencies: BTC, CRO, ETH and LINK Options: weekly, bi-weekly or monthly Payment methods: credit card Minimum amount: $50 Maximum number of recurring purchases per month: 5 Monthly credit purchase limit (USD): Tags CRO Crypto.com contest
Friday, April 30, 2021
Is it possible to make money with cryptocurrencies?
Cryptocurrencies are the future, but the period when it was really easy to make money in the virtual asset market is long gone. So it's no surprise that investors and people who "want to be in the know" are keen to learn about the most effective ways to make money on cryptocurrencies. They are characterized by different levels of risk and differ in the amount of potential earnings.
Earning on cryptocurrencies through investing - how much can you earn on cryptocurrencies?
Cryptocurrencies are primarily currencies that (at least in the plans) are expected to become one of the most common means of payment, so the most direct way to earn using them is through stock market speculation (trading), which involves buying cryptocurrencies at a favorable price, and then selling them when the market price is higher. We can invest in virtual assets occasionally, hoping for a "quick" profit, as well as focus on long-term investments that can lead to very high returns over the years. Most investors who have really gotten rich investing in Bitcoin made their first transactions a few years ago, when Bitcoin was much cheaper - for example, in 2013 1 BTC could be bought for about 11$. Today, it is about 50k $
Another way to invest in cryptocurrencies is the so-called day trading. This is sort of the opposite of long-term investing, which involves focusing on making money from small price fluctuations of particular assets. However, such a strategy requires making important decisions on a daily basis and reacting quickly to even the slightest changes in prices. This method usually involves trading on pairs such as BTC/USD, BTC/PLN or BTC against other cryptocurrencies. Day trading is not always the best solution, but in the case of cryptocurrencies it can be the optimal version - all thanks to the fact that cryptocurrency valuations change very often. The downside is the amount of time we need to control the markets and the need to be aware of the expected changes in asset prices. Therefore, it is worth starting investments in such a format only after gaining some experience. Check crypto pinterest board.
Arbitrage
Another way to start making money on cryptocurrencies is the so-called arbitrage. The strategy consists in buying an asset on one market (exchange) and selling it on another market where its price is higher at a given moment. In practice, this is a very simple way (at least in terms of how to make a profit) - imagine that you can buy Bitcoin on one exchange at a price of $10,000, while on another exchange at the same time the selling price is $10,100. How is this even possible? There could be many reasons, but it is usually the result of higher volume and a temporary increase in demand for Bitcoin on one of the exchanges. This way of investing seems like an ideal prospect, but in practice it is not so simple. On the one hand the possible profit is relatively low (differences between exchanges are small), you have to add transaction costs and the fact that you can never be sure if prices on the markets will not suddenly change.
Earning on cryptocurrencies through mining
Next on our list of once incredibly popular ways to make profits on cryptocurrencies is mining, or digging. This is a very important part of the decentralized peer-to-peer network that underlies cryptocurrencies bypassing the central authority responsible for "order" in the market. Mining is the process during which transactions between investors are verified and information is given to the public blockchain registry. In the process of mining, new cryptocurrencies or tokens are also introduced into the supply. Until a few years ago, for a relatively large group of people, cryptocurrency mining was a very convenient way to earn money. Today, however, the situation in the cryptocurrency market is somewhat different, and mining itself involves additional investments. First of all, you need computers with above-average parameters that act as so-called diggers.
From ordinary computers they differ primarily in the graphics card, which must be powerful enough for the device to solve complex mathematical operations. Some altcoin algorithms additionally make it increasingly necessary to use special chips called ASICs for mining, devices that are tailored for mining a specific online investigation. As cryptocurrency mining continues, the complexity of the mathematical tasks also increases. Apart from modern computer equipment, you also need a fast and stable internet connection for mining. Besides, the work of such equipment consumes much more energy than standard computers, so the power cost for one of them is at least several hundred dollars per month.
Sunday, December 10, 2017
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Wednesday, July 19, 2017
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