BITCOIN

Zola.

well well well, Russia are now saying they will soon take payment for Oil & Gas in Bitcoin, something I believe I stated could happen with a super power somewhere in this thread a long time, before this horrible war even happened.

Now Yellen (a massive bitcoin hater) is conceding and the all too familiar bitcoin game theory is well and truly in play...

https://www.youtube.com/watch?v=2Y0A8PvaloI

We have Brazil introducing a bill to make Bitcoin legal tender....we also have the likes of Rio de Janeiro now accepting bitcoin for tax payments...

And lastly, we have Exxon, mining bitcoin to lower their emissions (I thought bitcoin burned the planet?)

https://www.cnbc.com/2022/03/26/exxon-mining-bitcoin-with-crusoe-energy-in-north-dakota-bakken-region.html


it's all probably nothing

Zola.

Rumours that Apple are tipped to embrace Bitcoin with Apple Pay and a partnership with Strike, the Bitcoin investment app.

lozzy1965

Zola. said:

well well well, Russia are now saying they will soon take payment for Oil & Gas in Bitcoin, something I believe I stated could happen with a super power somewhere in this thread a long time, before this horrible war even happened.

Now Yellen (a massive bitcoin hater) is conceding and the all too familiar bitcoin game theory is well and truly in play...

https://www.youtube.com/watch?v=2Y0A8PvaloI

We have Brazil introducing a bill to make Bitcoin legal tender....we also have the likes of Rio de Janeiro now accepting bitcoin for tax payments...

And lastly, we have Exxon, mining bitcoin to lower their emissions (I thought bitcoin burned the planet?)

https://www.cnbc.com/2022/03/26/exxon-mining-bitcoin-with-crusoe-energy-in-north-dakota-bakken-region.html


it's all probably nothing

Hmmm, not entirely sure it's surprising to hear Russia announce that, given the financial constraints imposed on it by most of the rest of the world.  It's certainly not a good thing if Bitcoin allows them financial oxygen!

RolandFlagg

Tom Lee sums what you need to do for the next decade in just over two minutes:

https://youtu.be/DdIRwyNL32s

Scottex99

Saylor just leveraged another 205m in too

Malthusian

lozzy1965 said:

Hmmm, not entirely sure it's surprising to hear Russia announce that, given the financial constraints imposed on it by most of the rest of the world.  It's certainly not a good thing if Bitcoin allows them financial oxygen!

Sure it is bro. The whole point of Bitcoin was to allow everyone to conduct financial transactions outside the control of oppressive governments. Turns out "everyone" includes oppressive governments. Whaddyaknow. Money is truly apolitical.

Zola.

https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub#:~:text=The government has today announced,for cryptoasset technology and investment.&text=Stablecoins to be brought within,a recognised form of payment.


"The UK government will explore ways of enhancing the competitiveness of the UK tax system to encourage further development of the cryptoasset market in the UK"

Maybe they want some bitcoin after all

Interesting..

Adyinvestment

Very interesting, and shows a strong willingness to at least seriously look at this space.

I like the below which coupled with regulated stable coins/exchanges is a complete retirement gamechanger.

"The UK government will explore ways of enhancing the competitiveness of the UK tax system to encourage further development of the cryptoasset market in the UK. It will review how DeFi loans – where holders of cryptoassets lend them out for a return – are treated for tax purposes"

Malthusian

Adyinvestment said:

I like the below which coupled with regulated stable coins/exchanges is a complete retirement gamechanger.

"The UK government will explore ways of enhancing the competitiveness of the UK tax system to encourage further development of the cryptoasset market in the UK. It will review how DeFi loans – where holders of cryptoassets lend them out for a return – are treated for tax purposes"

Genuine question: how is it a gamechanger? The tax treatment of DeFi loans is simple: if you loan someone money, fiat or tokens, the interest is taxed as unearned income. The Government needs every penny it can lay its hands on and that is unlikely to change significantly.

A Royal Mint Platinum Jubilee NFT? Groan. Nothing says "future of money" like bros rushing to buy trading cards with a 95-year-old multi-millionairess on.

Adyinvestment

Malthusian said:

Genuine question: how is it a gamechanger? The tax treatment of DeFi loans is simple: if you loan someone money, fiat or tokens, the interest is taxed as unearned income. The Government needs every penny it can lay its hands on and that is unlikely to change significantly.

**IF** you could store your money on a UK regulated exchange in a UK regulated stable coin and earn 10% + without any concerns about losing your capital, do you not think this would change the amount needed for retirement?

If you want £30k a year to retire you may only need £300k or less, compared to around the 1 million using a 3%ish often quoted safe withdrawal rate on this forum.

Even if taxed as income this is very favourable. But granted there are a lot of assumptions in this at this time.