How Bitcoin is taxed

2021/1 13 27:49

The OKEx market shows that the 1-hour trading volume corresponding to the 10,000 integer threshold node in early trading hit a new monthly high, and it was How Bitcoin is taxedalso the fourth highest 1-hour trading volume in the past month and a half. And most mainstream exchanges, including Coinbase, during this morning's rapid rise have generally seen a similar concentration of trading volume, and the market's emphasis on the 10,000 integer mark is full.

Mt.Gox used to be the largest Bitcoin exchange in the world, and 70% of Bitcoin transactions were conducted here. However, due to a security breach, the platform lost more than 7% of Bitcoin (of which 750,000 belonged to users and 100,000 belonged to exchanges), valued at approximately $7.5 billion. The exchange eventually filed for bankruptcy in the Tokyo District Court.

Constructive criticism of Bitcoin is conducive to the healthy development of the industry. In fact, some critics of Bitcoin may also be its most loyal supporters, because they realize that only by analyzing the advantages and disadvantages of this cryptocurrency and looking at it with suspicion can it continue to make progress.

When the coronavirus began to sweep the world, many experts such as MikeNovogratz, CEO of Galaxy Digital, believed that the Bitcoin moment might be coming. First, the Federal Reserve is printing billions of dollars in new U.S. dollars to increase the supply of U.S. dollars, while the supply of Bitcoin is decreasing as the block reward is halved. Bitcoin is presented as a tool to hedge against economic uncertainty, a digital gold, and the only tool to maintain flexibility in a chaotic world. But Bloomberg reported that Bitcoin failed at this point.

From a certain perspective, the British investment management company Winton estimates that global hedge funds hold at least $3 trillion in assets. Therefore, 1% of the capital allocation will make 30 billion U.S. dollars flow into the Bitcoin market. Due to the legal tender multiplier effect, Bitcoin may break through the high point at the end of 2017-20,000 U.S. dollars.

The current competition between ABC and SV is still ongoing. According to the data of coindance, before press time, due to the drastic reduction of ABC's computing power, the current SV's computing power is 1267PH/s, which has exceeded ABC's 9How Bitcoin is taxed78PH/s, and ABC is only ahead of SV by 3 blocks. But in terms of mining profit, ABC still leads by a large margin: ABC's mining profit exceeds Bitcoin by 4%, while BSV is 688% of BTC and 693% of ABC.

Unexpectedly, Bitmain counterclaimed the three former employees on the grounds that according to the non-competition agreement, after Pan Zhibiao left the mining pool, Bitmain would pay Pan about US$2780 per month within 24 months. In return, Pan Zhibiao cannot operate a Bitcoin mining pool. (The contracts signed by Zhu Fang, Li Tianzhao and Bitmain are similar, but the amount of compensation is unclear.)

"If it can be found, this list may still be completed. Once it can't be found, this transaction will waste a lot of time and cost." Luo Qian said, "Therefore, there are many factors of distrust between the buyer and the seller, and the seller is unwilling. The buyer is unwilling to provide KYC certification in advance. The gold content of KYC is very high. The standardized KYC certification of 100 million or 200 million RMB can be sold for 100,000 to 200,000 RMB on the black market."

The third point is that the value of new funds entering the market will not necessarily settle in the market value of Bitcoin in the end. Although in every previous cycle, most of the newly entered funds were eventually "transfused" to Bitcoin, but this time is different. After a giant like Facebook enters the market, in the process of mass adoption, the ease of use, Speed ​​and transaction costs will play an important role in people's exploration.