I responded to the comment Russia about being crypto-friendly.Legality and enforcement of the law are two different things.
I wrote "supporting crypto against the dollar empire." That means supporting a functioning market in crypto so it can be used as an alternative to the dollar in international trade. They may be limiting their own citizens from using crypto as a currency within Russia. But they are supporting it as an alternative to the dollar. Its the same position as the Chinese.I responded to the comment Russia about being crypto-friendly.
It is not. (enforcement is a completely different topic)
As to enforcement - if you want to get fiat out of your crypto holding, they'll absolutely enforce.
Russia has very strict capital controls system and Russian banks freeze accounts left and right for transactions they find suspicious, and they just got instructions from Central Bank to focus on crypto related transactions.
It's not like in America where they bounce they money back - nope, they just freeze the account and hold the money until the letter from tax service is produced.
Unlike nice Uncle Sam who only may cancel the passport for 50K owed to IRS, Russia absolutely will prevent a citizen from leaving the country for slightest amounts/fines owed, debtor database is checked at the exit points.
By the way, starting this January Russian subjects have to report all their crypto holdings to tax service if they traded more than about 8K USD equivalent during the year, this includes all holdings including ones that weren't traded.
I find it a little amusing that RT (English) gives platform to Max Keiser, while having completely different story and regulating the opposite for Russian subjects. (though if you think of it, it's a no-brainer what's going on). By the way, Russia loves US Treasury bonds as investment vehicle.
That's what Max Keiser is for...I wrote "supporting crypto against the dollar empire." That means supporting a functioning market in crypto so it can be used as an alternative to the dollar in international trade. They may be limiting their own citizens from using crypto as a currency within Russia. But they are supporting it as an alternative to the dollar. Its the same position as the Chinese.
Do you have any arguments?Why do ppl pollute this thread w/ “how about gold..?” stuff. Gold is supposed to be the dead-end we want boomers to take, so they’ll be late buying bitcoin — and have their social power decreased
Gold is a dead yellow shiny rock that has been on its way out for most of the last century. It’s never coming back as an important economic force and it shouldn’t.
This is the digital age in which digital platforms & digital assets rule supreme.
All of the 20th century, my friend.Do you have any arguments?
I do, the guy is the only one trader I've found that is not the x100 moon-lambo fanboy and tells things upfront along with Ivan on tech. Solid advice and analysis.Anybody else following Benjamin Cowen? He does a great job of breaking down when Bitcoin is expensive or cheap, viewed on a long-term basis. For those of us that aren't trading, I think he is one of the best resources out there for when to buy, hold and sell.
What are his top 5 videos you would recommend? Coins he's long on? Any niche topics like NFTs he covers?Anybody else following Benjamin Cowen? He does a great job of breaking down when Bitcoin is expensive or cheap, viewed on a long-term basis. For those of us that aren't trading, I think he is one of the best resources out there for when to buy, hold and sell.
To be honest, I watched maybe 10 of his videos back in late 2019 and liked how he built his models into the future using his engineering and programmatic knowledge so I subscribed to his Patreon. He builds these regression models that tell you when it's overvalued and undervalued which have been another piece of information I take in when deciding to buy. Here is one of the latest videos I watched which goes through his thinking.What are his top 5 videos you would recommend? Coins he's long on? Any niche topics like NFTs he covers?
I have to disagree. All you have to do is hide it or pay for secure storage. To trade it, you just have to hand it to someone, or a hand them a representative note. It's super easy to divide, by melting it, which doesn't corrupt it. Gold can easily be purchased with "fintech" techniques, like an online brokerage, or an account like Goldmoney. And to check quality, you just weigh it or test its displacement, etc.All of the 20th century, my friend.
Gold is never coming back
It’s easily confiscated
It’s hard to store and keep safe in significant quantities
It’s slow to trade with
It’s hard to divide in smaller pieces
It’s completely at odds w/ the way fintech or modern economy is moving into
It’s hard to check for good quality
I could go on, but I know you will keep believing in gold anyway. And that’s fine.
This is “The bitcoin thread”, go to “The gold thread” if you want to talk about that.
This is the Bitcoin thread, not the Bitcoin fans only thread. Regardless, I'm not trying to convince you as much as I am trying to demonstrate to others, by arguing with people like you, that Bitcoin has gotten out of control.No offence, amigo, but I have zero interest in your gold cope. Take it to “the gold thread”.