RE: What's up with bitcoin? It just broke 61.8% fib level with almost no resistence. by karamyog

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bitcoin · @karamyog · Jul 30 '18

$0.03

Why will i disregard? Opinions are welcome, may be i learn something. 

I agree with you mostly. I think pump pricing will vanish when a larger and diverse  pool of investors invest in crypto markets. For that regulation is necessary. But for these guys to not dump massively, tech upgrade is necessary, that would eventually lead to retail adoption. I am not sure of this, but for retail adoption, is LN backed remittance better or litecoin backed remittance or any other token/currency? Large number of people using bitcoin as a store of wealth is a post vol idea. 

I see things more from a financial viewpoint. Also, your response became a little complicated for me to comprehend i think.

👍 machnbirdsparo

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@machnbirdsparo · Jul 30 '18

I enjoyed the return. 

Regarding regulation, I have been saying that governments could impose a tax, or regulation with its own crypto. It would simply attach itself on top of a transaction much the same way Americans pay a tax on some goods while others, like food, incur no tax. It would encourage crypto tax only for items in which a regulator has proven to provide a valuable service.

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@karamyog · Jul 30 '18 (edited)

$0.04

I hope there is no value added tax. Tax on financial gains may be. Again, value added tax would be jurisdiction based. The most uniform tax will be cap gain. Then people will set up a company in a tax haven and well.. save on tax.

👍 dustsweeper, machnbirdsparo

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