CoinRobin

Could be a great idea to do so, since the IRS could still change them to something more reasonable.

Cryptocurrency is gaining momentum as a form of digital asset investment, and the Internal Revenue Service (IRS) has proposed new rules to regulate the industry. The rules, titled “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions,” would require entities that facilitate transactions on the blockchain to report to the IRS as brokers. This would include issuing 1099 forms to every user, which includes details of every single transaction.

The rules, if applied too broadly, could have a major impact on the industry. Liquidity providers, validators, and miners could all be affected. Additionally, permissionless protocols such as Uniswap and AAVE would be impossible to use in the US due to the massive amount of paperwork and regulatory overhead required.

Many people argue that the proposed rules are unnecessary, since users already do their taxes and it is easy to track and report cryptocurrency transactions. Furthermore, the requirement to KYC every user could lead to the exposure of sensitive information to multiple entities.

Senator Elizabeth Warren is pushing for the IRS to implement the rules as soon as possible (by early 2024), yet there is still time to submit comments to the IRS in order to propose changes. Doing so could lead to more reasonable regulations that don’t stifle the industry.

Overall, the proposed rules by the IRS could have a huge impact on the cryptocurrency industry. While there are concerns that the rules are too restrictive, they may be amended if enough people submit comments to the IRS. It’s important to stay informed and to take action to ensure that the regulations are fair and reasonable.

With 8 billion people on the planet, most of us don’t know much about money beyond the basics of our monthly paychecks, groceries, and savings. Even those who understand mortgages are considered “top notch”, yet they still don’t have a firm grasp on the fundamentals of money.

The truth is, even if you don’t have a single Bitcoin, you’re already a winner in this game. After all, there are very few scenarios in which retail investors can outperform corporate and government entities, but if you have even 0.1 BTC, you’ll be well-positioned to benefit if and when institutions decide to FOMO in.

Of course, Bitcoin is often touted as the ultimate store of value, and buying one in 2017 right before its wild ride to $20,000 was a wise move. Those who kept hold of their Bitcoin until at least 2030 are likely to come out on top.

It’s easy to feel like an outsider when it comes to Bitcoin. But don’t let that stop you from learning more about cryptocurrency and its potential to revolutionize the world of finance. Even if you start small, it’s never too late to get on board.

I’m a proud Bitcoiner and watching the pumps and dumps of the cryptocurrency market can be a wild ride. Just when you think the price is going to cross a certain threshold, it can suddenly drop. Whether it’s going up or down, it’s a roller coaster of emotions.

I was recently surprised to see the price close over 30k, but it didn’t last long and I’m not sure if it will cross 31k this time. There’s always a degree of uncertainty and it’s worth reasoning out the analysis before making any big decisions, because you never know what will happen.

Sometimes when the price starts to go down, I’m tempted to buy and sure enough, as soon as I do, the price will go down even further. I’m starting to think there’s truth to the meme about bitcoin prices going down after someone buys it.

It’s important to stay calm and remember that we have the whole future ahead of us. Even when the price dips, there’s always room for growth and there’s even been some nice pumps on bad equity days.

Right now, we’re waiting to see how it will hold up over the weekend and whether it can stay above 30k. It looks like there might be a death cross rally coming up and that could lead to a lot of pain.

It’s definitely a journey and I’m sure there will be plenty of highs and lows along the way. But, at the end of the day, I’m still a proud Bitcoiner and I’m excited to see where it will go next.

I’m a huge fan of Bitcoin and have been consistently dollar-cost averaging (DCAing) since April 2020. But I recently found myself in a tricky situation – I was forced to choose between renting and buying a house. After much deliberation, I eventually decided to buy a house with a mortgage payment that’s 44% higher than my rental payment (which increases annually in June). Now I’m wondering if I’ll ever own that many Satoshis again.

I’m confident that I can come close to reclaiming my stack if I play my cards right. The house I purchased is the perfect starter home and ticks all the boxes I need it to. It’s also within budget and even sits on a surprisingly large lot compared to its surroundings. I know this may sound absurd to many people but I made an informed decision and I’m comfortable with it.

The thought of selling at the bottom of the market isn’t pleasant but I still believe in the long-term potential of Bitcoin and I’m hopeful I can get close to reclaiming my stack. In hindsight, I could kick myself for not investing more in BTC since 2015. That year, I spent almost exactly the same amount of BTC on fake IDs for me and my roommates – eight years later it’s a down payment for a house.

Although I’m not sure if I’ll ever own that many Satoshis again, I’m still committed to Bitcoin and will keep DCAing to build my stack. It’s my hope that the long-term potential of Bitcoin will eventually pay off.

Later it was revealed that the person behind this was no other than Sam Bankman-Fried, the CEO of FTX, Alameda Reserch and other popular DeFi projects. After the news was revealed by NFT Ethics, Sam stepped down from his position at Alameda Reserch and apologized for the incident. This was really shocking news, it was hard to believe that someone at such a high position in Crypto was involved in such suspicious activities. ​

The crypto community has been dealing with a lot of scams, hacks and rug-pulls in this bear market. We’ve seen this with many exchanges last year, but recently it seems to be getting even worse. We’ve been seeing multiple rug-pulls that all seem to be connected to one individual, 0xSisyphus, who was later revealed to be Sam Bankman-Fried, the CEO of FTX, Alameda Reserch and other popular DeFi projects.

Sam’s most infamous rug-pull was the $60M Anubis ($ANKH) rug-pull which was revealed by NFT Ethics. Before the collapse, Sam had even tried to sell the token to Alameda Reserch. After the news was revealed, Sam stepped down from his position at Alameda Reserch and apologized for the incident. This was a huge shock to the crypto community, as it’s not everyday that someone in such a high position in the industry is involved in such suspicious activities.

The frequency of these scams, hacks and rug-pulls is really unhealthy for the crypto industry. It’s hard to trust projects in crypto when these events are happening so often. It’s even worse when it’s someone at a high position in the industry who is involved. This is why it’s so important to be vigilant and do thorough research before investing in any crypto project. Additionally, we need to continue to call out bad actors in the space and ensure that justice is served. Only then can we create a safe and healthy environment for the crypto industry to prosper.

The Cryptozoo project was created in 2021 by Logan Paul, who promised big things about the project but later failed to deliver. After Coffeezilla called him out on the matter, Logan reportedly asked his investors to refund them. To add insult to injury, according to reliable sources, Logan Paul’s best offer was to refund only 5-10% of the losses suffered by the CryptoZoo victims.

Logan Paul’s actions have been widely criticized and his character has been called into question. Many have been shocked to find that despite his shady dealings, there are still people who idolize and worship him.

It has been months since the project launched and yet Logan Paul has failed to refund a single penny. He has even gone so far as to turn off comments on his video about CryptoZoo.

The events surrounding the Cryptozoo project are a stark reminder of the danger of investing in unknown projects. It is important to always do your research before investing in any project and to be aware of the character of the people behind the project. Greed and dishonesty should not be tolerated and investors should always be mindful of the possibility of being scammed.

Crypto had a great 2017 with huge gains, while this was great for the space it also brought in lots of people who were only here for the money and not the tech. 2017 was a banner year and that was the peak of the crypto hype, you had your celebrities talking about it, you had your huge news articles talking about it, everyone was talking about it. It was like a wild west, you had your cowboys and your miners, your traders and your speculators, it was a big time for the space.

Fast forward to 2021 and we see crypto in a much different state. We see huge restrictions on withdrawls and KYC, we see companies trying to make their own version of crypto, people are much more skeptical and cautious about investing in crypto. The space has changed and moved away from what it once was. It’s become less about the tech and more about the money. We see more and more people who are just here to make a quick buck, and the news is always about the next big thing. Gone are the days of the crypto evangelists and the sense of community, and it seems like most of the focus has shifted to profits and money.

I think the crypto space has gone backwards since 2017, while we have made some progress in terms of adoption and technology we have lost the sense of community that was so strong back in 2017. We have more restrictions and less freedom, we have more people who are just here to make money and less who are here to move the space forward. We have more news focused on the money and less on the tech. We have more speculation and less innovation. We have more companies trying to make their own version of crypto and less focus on pushing the boundaries of the space.

So there you have it, my plea that the crypto space has gone backwards since 2017. Do you agree or disagree with me? Let me know in the comments.

Think the biggest lesson you learned is to not get emotional and buy more when the crypto hype is here. You did the right thing by using the risk model and capitalizing on dips. That will serve you well in the next bull run. You already have one btc, now you’re on your way to the second one. Congrats!

Having accumulated Bitcoin for the last few years, I’m proud to say that my September DCA has allowed me to achieve the goal of having an entire BTC. It’s been a long and exciting journey, and I’m overjoyed that I can now finally say I have a full BTC.

In 2019, I learned about Bitcoin and starting accumulating a little bit each month. During the 2021 bull run, I got caught up in the hype and greed and increased my DCA too much. This, unfortunately, led to me losing some of my sats due to fear when the market started crashing. This experience still haunts me to this day.

However, I didn’t give up. I kept DCA’ing as usual, but adjusted the amount based on the Bitcoin risk model at alphasquared. This has been instrumental in helping me to capitalize on dips in the market over the last year. When the price and risk decreased in the August dip, I increased my DCA and now, here I am with an entire Bitcoin.

The biggest lesson I’ve learned throughout this process is to not get emotional and buy more when the crypto hype is here. Using the risk model has helped me to stay disciplined and capitalize on market dips, which will be incredibly important in the next bull run.

Now that I’ve achieved the goal of having a full Bitcoin, my next goal is to get the second one. One less BTC for Black Rock!

Jaredfromsubway.eth is a well-known figure in the crypto world, mainly due to his infamous MEV bot that runs sandwich attacks. This bot runs two transactions before and after the original swap transaction of an unsuspecting user, manipulating the price of the asset being swapped to make a profit. According to an analysis by hildobby on Dune, Jaredfromsubway.eth has spent the highest amount of gas in terms of ETH, with over 37k ETH or $70M spent. This is more than 5% of the total gas spent in the last 6 months.

Using the MEV bot to run these sandwich attacks, Jaredfromsubway.eth is able to take advantage of the Ethereum price and make tremendous gains. The MEV bot utilizes the mempool, a record of all unconfirmed transactions in the Ethereum network, to search for transactions that have a higher than normal Ethereum price. It then quickly submits two transactions before and after the original transaction.

Jaredfromsubway.eth gets its name from the former spokesperson for the Subway fast food chain, who was convicted for child pornography and pedophilia in 2015 and was sentenced to 15 years in prison.

It is no wonder that Jaredfromsubway.eth has been able to make such a large profit from his MEV bot. With over $70M in gas spent, it is incredible to think about the potential gains that could be made. Clearly, this kind of attack has the ability to bring in huge profits to the individual who knows how to utilize it.

For years, the Lazarus Group, a state-sponsored North Korean hacking group, has been targeting the crypto sphere. From the Atomic Wallet hack of over $100 million, to Coinspaid’s $60 million, Stake’s $40 million, and the Coinex drain of over $50 million, the North Koreans have been causing major losses for cryptocurrency users. On average, they have been stealing up to $2.6 million per day, leaving many crypto holders feeling insecure and victimized.

ZachXBT and Tayvano, two specialists in tracking North Korean wallets, have spoken out about the issue, noting that North Korea is able to act with impunity, with smart contracts subject to OFAC rules, crypto builders arrested, and laws written by those who are not familiar with the technology. They point to evidence from the FBI, which confirms that the Stake hack was committed by the Lazarus Group.

It appears that the crypto sphere is being used as a testing ground for North Korea and potentially other countries, with Lazarus Group as their enforcer. This poses a massive problem for crypto users, as no one has yet identified a successful way to stop the attacks.

The situation is incredibly concerning, and it is important for crypto holders to be aware of the potential risks they are facing. By staying informed and taking necessary security precautions, crypto users can help protect themselves and their assets from North Korean hackers.