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r/CryptoCurrencySee Post

Bitcoin Millions Times More Efficient than Old Financial System - NEC Capital

r/BitcoinSee Post

Bitcoin Millions Times More Efficient than Old Financial System - NEC Capital

r/BitcoinSee Post

Fiat is a one trick pony. Since there can be unlimited amounts of fiat printed, every asset that is scarce by nature can have its value coopted by fiat as long as there is a paper market created against it.

r/CryptoCurrencySee Post

For those wondering about taxes, the government cannot track everyone’s crypto spending; YET; a long post to explain a difficult topic.

r/CryptoCurrencySee Post

Filing taxes for Crypto makes me not want to trade crypto.

r/CryptoCurrencySee Post

It sucks to pay tax on crypto gains, here are some good ways to stay off the radar of the tax man. Can't avoid paying tax but doesn't mean you have to pay an arm and leg.

r/CryptoCurrencySee Post

FC Twente (a football club in the Netherlands) gets sponsored by a crypto currency

r/CryptoCurrencySee Post

Why I am bullish on Vectorspace AI (VXV). The first AI dataset aggregator company in the crypto market.

r/CryptoCurrencySee Post

Why I am bullish on Vectorspace AI (VXV). The first AI dataset aggregator company in the crypto market.

Mentions

r/CryptoCurrencySee Comment

I'll have some of what those fine folks at NEC Capital are having...

Mentions:#NEC
r/CryptoCurrencySee Comment

NEC Capital: Coincidentally also has invested in BTC.

Mentions:#NEC#BTC
r/BitcoinSee Comment

You have bitcoin in you wallet. You make a bet in the paper market it will be below x price in y days. (This doesn't change the price) You sell your coins on an exchange at the market into the bid. You get less fiat than you paid for the bitcoin, but you had like a 20 or 50 to 1 levered future trade, so for every dollar it drops you get 20-50 from your futures trade. It's the same formula HFs use in the stock market to drive companies to 0. Cash settled futures were introduced in 2017 to attack the fiat price of bitcoin, since there is no other real attack surface. > "The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market," Giancarlo told CoinDesk. "And that's exactly what happened." https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says

Mentions:#NEC
r/BitcoinSee Comment

Yes it is being shorted to hell since 2017. When you have a futures ETF and unlikited fiat, price discovery is manufactured. A circular economy where only actual bitcoin are accepted will stunt this impact. > "The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market," Giancarlo told CoinDesk. "And that's exactly what happened." https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says

Mentions:#NEC
r/BitcoinSee Comment

Since 2017, catch up poindexter. The lack of easy ways to short has been cited by other researchers as propping up prices in other crypto assets. "The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market," Giancarlo told CoinDesk. "And that's exactly what happened." https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says/

Mentions:#NEC
r/BitcoinSee Comment

They didn't, miners are hodling, not selling. Futures for Bitcoin were created solely to short it and suppress the price: >The lack of easy ways to short has been cited by other researchers as propping up prices in other crypto assets. "The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market," Giancarlo told CoinDesk. "And that's exactly what happened" https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says/ People have been convinced to hold IOUs instead their keys while their coins are shorted, in return for more IOUs. Sadly these people think they are helping adoption.

Mentions:#NEC
r/BitcoinSee Comment

Futures for Bitcoin were created solely to short it and suppress the price: > The lack of easy ways to short has been cited by other researchers as propping up prices in other crypto assets. "The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market," Giancarlo told CoinDesk. "And that's exactly what happened" https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says/ Take possession of your coins, don't lend them for others to manage.

Mentions:#NEC
r/BitcoinSee Comment

> When will bitcoins become useful? When you travel to El Salvador. Bitcoin isn't useful in your country because all the point-of-sale (POS) terminals in your country don't accept it. The moment a major POS vendor (NEC, Square, etc..) roll out bitcoin acceptance at the POS terminal then things will start to take off. Slow at first since stores only upgrade cash-registers every 20 years, but it does happen, over time. IMHO, Square-POS will likely roll out BTC-LN integration stateside in the next 10 years. Square is big enough that it will make a marked impact on adoption. Square-POS is also more of a firmware based POS system so they take firmware upgrades that would allow existing terminals to get the rollout Keep in mind, things like tap-to-pay (NFC CC) came out over a decade ago and is still hit or miss at most POS systems. It is getting broader adoption, but man is it slow.

Mentions:#NEC#BTC#LN
r/CryptoCurrencySee Comment

Just remember back in the days people Didn't believe in Electricity!!! Remember We once had Rotary Phones!!! Remember we had Pagers and wall phones!! Remember the best Cell phones Were NEC & Carried in BAGS. Then became flip phones. REMEMBER THE WORLD BEFORE SOCIAL MEDIA!! There was a ton of push back and here we are today. I didn't understand the technology then... I don't know it now. I just adapt and I'm glad I'm able to see it.

r/CryptoCurrenciesSee Comment

tldr; The White House is considering a wide-ranging oversight of the cryptocurrency market to combat the growing threat of ransomware and other cybercrime, a spokeswoman said on Friday. "The NSC and NEC are coordinating across the interagency to look at ways we can ensure that cryptocurrency and other digital assets are not used to prop up bad actors, including ransomware criminals," the White House National Security Council spokeswoman said. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#NEC
r/CryptoCurrencySee Comment

tldr; The White House is considering a wide-ranging oversight of the cryptocurrency market to combat the growing threat of ransomware and other cyber crime, a spokeswoman said on Friday. "The NSC and NEC are coordinating across the interagency to look at ways we can ensure that cryptocurrency and other digital assets are not used to prop up bad actors, including ransomware criminals," the spokeswoman said. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#NEC
r/CryptoCurrencySee Comment

“*This proposal would create a comprehensive financial account information reporting regime. Financial institutions would report data on financial accounts in an information return. The annual return will report gross inflows and outflows with a breakdown for physical cash, transactions with a foreign account, and transfers to and from another account with the same owner. This requirement would apply to all business and PERSONAL ACCOUNTS from financial institutions, including bank, loan, and investment accounts,2 with the exception of accounts below a low de minimis gross flow threshold of $600 or fair market value of $600. Other accounts with characteristics similar to financial institution accounts will be covered under this information reporting regime. In particular, payment settlement entities would collect Taxpayer Identification Numbers (TINs) and file a revised Form 1099-K expanded to all payee accounts (subject to the same de minimis threshold), reporting not only gross receipts but also gross purchases, physical cash, as well as payments to and from foreign accounts, and transfer inflows and outflows. Similar reporting requirements would apply to crypto asset exchanges and custodians. Separately, reporting requirements would apply in cases in which taxpayers buy crypto assets*...” Some people interpreting this differently but 2 things. 1. It says personal accounts right there! 2.)they are talking about 1099’s so that tells me it’s mainly aimed at small businesses and it makes sense because so many people have small businesses these days and use taxes to offset losses or manipulate what they made to pay less tax. *Current Law *Business income is subject to limited information reporting. Current information reporting of gross receipts exists for only certain types of revenue (from Forms 1099-MISC, 1099-NEC, and 1099-K), and there is no information reporting on total deductible expenses*

Mentions:#NEC
r/CryptoCurrencySee Comment

The section before explains it. > Current Law Business income is subject to limited information reporting. Current information reporting of gross receipts exists for only certain types of revenue (from Forms 1099-MISC, 1099-NEC, and 1099-K), and there is no information reporting on total deductible expenses. Reasons for Change The tax gap for business income (outside of large corporations) from the most recently published Internal Revenue Service (IRS) estimates is $166 billion a year.1 The scale of this revenue loss is driven primarily by the lack of comprehensive information reporting and the resulting difficulty identifying noncompliance outside of an audit. While the net misreporting percentage is only 5 percent for income subject to substantial information reporting, the net misreporting percentage for certain categories of business income exceeds 50 percent. Requiring comprehensive information reporting on the inflows and outflows of financial accounts will increase the visibility of gross receipts and deductible expenses to the IRS. Increased visibility of business income will enhance the effectiveness of IRS enforcement measures and encourage voluntary compliance.

Mentions:#NEC
r/CryptoCurrenciesSee Comment

I actually had to explain all of this so much, that I sat down and recorded an entire video series. Each video is 5 minutes. Maybe some of your questions are addressed here: (sorry about the quality. I'm still learning!) The quality does get better over time. Crypto for Dummies (1/4) https://www.youtube.com/watch?v=Kazb1wQ4DQc Crypto for Dummies: Ledgers (2/4) https://www.youtube.com/watch?v=zNG\_aNKUPVg Crypto for Dummies: Smart Contracts (3/4) https://www.youtube.com/watch?v=ZCoVX2v8vw8 Crypto for Dummies: DeFi (4/4) https://www.youtube.com/watch?v=Tm4DMuM8FUU Decentralization and Censorship https://www.youtube.com/watch?v=Bded9xsalDA Decentralization and Democracy https://www.youtube.com/watch?v=cCI5JMgdCOk Decentralization and Climate Change https://www.youtube.com/watch?v=g6MOMkRmPZQ Decentralization and Natural Resource Conservation https://www.youtube.com/watch?v=1SyAVfk5S5k Decentralization and Intellectual Property https://www.youtube.com/watch?v=ipBl3Aby5UM Decentralization and Corporate Governance https://www.youtube.com/watch?v=W90NgME0u0I Decentralization and System Reliability https://www.youtube.com/watch?v=z6C4hOGsNwo Digital Asset Myths: DAs are mainly used for CRIME!! https://www.youtube.com/watch?v=2oiuZXsMVqM Digital Asset Myths: DAs are insecure and people lose them! https://www.youtube.com/watch?v=NEC\_GgHluwo Digital Asset Myths: Governments will crumble and nobody will pay tax!! https://www.youtube.com/watch?v=IvxQ23OlECg Digital Asset Myths: Cartels and druglords use DAs!! They are evil https://www.youtube.com/watch?v=kLILre\_sRAM Digital Asset Myths: DAs are slow! https://www.youtube.com/watch?v=gdyCITKFFHs

Mentions:#S#NEC
r/CryptoCurrencySee Comment

This is the best tl;dr I could make, [original](https://www.cnbc.com/2021/02/24/failure-to-report-crypto-on-tax-returns-can-lead-to-trouble-with-irs.html) reduced by 87%. (I'm a bot) ***** > High up on the first page of your tax return, a yes or no question is posed: "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?". > Depending on your tax bracket for 2020, that could range from a rate of 10% to 37%. Any crypto held for more than one year that generates a profit when sold is taxed as a long-term gain at a rate of 0%, 15% or 20%, depending on your income. > "On your 2020 tax return, you would add $10,000 as a capital gain to any profits from stocks that were sold and $20,000 as income to any other wages or 1099-NEC income that was earned," Hauer said. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/lse2qb/failure_to_report_cryptocurrency_on_your_tax/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~560145 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **any**^#1 **crypto**^#2 **income**^#3 **report**^#4 **year**^#5

Mentions:#NEC
r/BitcoinSee Comment

This is the best tl;dr I could make, [original](https://www.cnbc.com/2021/02/24/failure-to-report-crypto-on-tax-returns-can-lead-to-trouble-with-irs.html) reduced by 87%. (I'm a bot) ***** > High up on the first page of your tax return, a yes or no question is posed: "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?". > Depending on your tax bracket for 2020, that could range from a rate of 10% to 37%. Any crypto held for more than one year that generates a profit when sold is taxed as a long-term gain at a rate of 0%, 15% or 20%, depending on your income. > "On your 2020 tax return, you would add $10,000 as a capital gain to any profits from stocks that were sold and $20,000 as income to any other wages or 1099-NEC income that was earned," Hauer said. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/lse2qb/failure_to_report_cryptocurrency_on_your_tax/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~560145 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **any**^#1 **crypto**^#2 **income**^#3 **report**^#4 **year**^#5

Mentions:#NEC