Trump Launched a Meme Coin

[integral]

@LordFall Everything you make in cryptocurrency you have to pay capital gains tax. In places like Canada the taxation is over 50% and United States is up to 25% exactly like stocks. That means if I make 10,000 on the Donald Trump coin I have to pay the Canadian government 50% taxes.

All of this is still regulated by the government. This isn't the Wild Wild West.

It's true that you can purchase cryptocurrency illegally untraceably. Without using your own credit card, and then store it separately in a hardware wallet or on a decentralized Exchange. It is illegal to not declare your crypto purchases, and this is true for nearly every government.

If you do make illegal purchases and hide it from the government ,At any point if you want to do anything serious with that money like buy a house or a car this raises red flags and they're going to ask you where you got that money. if anyone finds out you have that money you are going to get audited.

None of this stuff is outside government control and regulation.

Governments have done this for a number of reasons, one is to protect people and to protect their economy because if everyone just starts buying unregulated crypto they will siphon out money from the economy. This is what no one understands when money moves out of the economy into crypto everyone else is getting poor. That means the average person who has no idea what's going on is just going to get poorer and poorer and poorer and there cost the living will keep going up and up and up.

The idealist fantasy that everyone thinks is happening here is that the government is going to be forced to adopt a globalized decentralized deflationary cryptocurrency. But at no point does a government ever have to do that.

If you want to compare gold to crypto. Gold is not some magical thing you could buy without any regulation? There is basically no difference between gold and crypto and all the same regulatory processes are taking place.

Yes you could illegally buy Bitcoin outside of the watch of the government, and then you would need to literally launder it back into the system or do very small purchases that are untraceable or convert that to cash through some roundabout way. All of this extremely illegal. Everywhere around the world.

I don't see a single situation where the government is not regulating all of this. If there's some AI economy where AI runs in some decentralized system, then computers need to power all of that, and anyone running those computers needs to get paid, and all of that income is regulated by the government.

Edited yesterday at 12:32 AM by integral

[FourCrossedWands]

I wish they the make a crypto university so we can all get educated on meme coins. It's such a complicated subject it's almost like quantum mechanics, especially the Hawk Tuah girl coin.

[integral]

@FourCrossedWands I've studied this for many years, I could probably help out here if you have any questions?

Or use AI.

Edited yesterday at 12:57 AM by integral

[Leo Gura]

1 hour ago, LordFall said:

Will all due respect Leo I think you're undereducated on cryptocurrency.

Don't even.

[FourCrossedWands]

30 minutes ago, integral said:

@FourCrossedWands I've studied this for many years, I could probably help out here if you have any questions?

Or use AI.

I am already communicating with AI, but it's not very bright...

[Yimpa]

Just now, FourCrossedWands said:

I am already communicating with AI, but it's not very bright...

Learning how to communicate with AI effectively is a skill you must develop over time and with experience. It is different than communicating with a human. 

[FourCrossedWands]

12 minutes ago, Yimpa said:

Learning how to communicate with AI effectively is a skill you must develop over time and with experience. It is different than communicating with a human. 

To me it feels like it's getting dumber as we speak. When it gets too dumb, I just start trolling it for fun.

[The Crocodile]

@FourCrossedWands https://drive.google.com/file/d/1wvSNG9jiVimqJ7HeX_bpZ_iruLF_sAsF/view?usp=sharing here

[FourCrossedWands]

Which one should I invest in? I am lost.

 

[Yimpa]

21 minutes ago, FourCrossedWands said:

Which one should I invest in? I am lost.

None of the above.

[integral]

3 hours ago, FourCrossedWands said:

Which one should I invest in? I am lost.

 

Bitcoin just reached an all-time high. It is not time to put your money in the market..

Edited 22 hours ago by integral

[Twentyfirst]

What if I told you that every thing on this planet was a scam? Not just meme coins

[FourCrossedWands]

25 minutes ago, integral said:

Bitcoin just reached an all-time high. It is not time to put your money in the market..

Bitcoin is dead money. It's not even in the trending chart.

[integral]

38 minutes ago, FourCrossedWands said:

Bitcoin is dead money. It's not even in the trending chart.

Oh my God, I need to do a full course on this to teach people how cryptocurrency works.

bitcoin reached an all-time high yesterday, but somehow it’s dead? 😂

Edited 21 hours ago by integral

[integral]

@FourCrossedWands unfortunately I think this is something that you can only learn through experience and by trial and error. Unfortunately, that means losing money.

I’ll try to save you from doing that right now, I want you to go on tradingview website, and open up a bitcoin chart. And then zoom out, so you can see the full chart from the beginning of time

This will give you a birds iview of how the market moves over many years.

This is the question I want you to ask yourself, when is the right time to buy?

Now I want you to open up and compare utter coins and stocks to see how they move overtime. And you will notice that the entire market of cryptocurrency moves according to bitcoin. If bitcoin decides to go down then all the other coins go down with it at the same time.

Bitcoin is the leader, and every other coin follows it.

Next, I want you to open up regular stocks and compare bitcoin to regular stocks. And you will notice that bitcoin follows the larger economy stock market. And if the entire economy is going down, then bitcoin is going down.

Next, I want you to notice how every meme coin has a very large spike and then a very large crash right after, over and over again. 

Edited 20 hours ago by integral

[LordFall]

@integral I don't understand your point though, it's mostly a good thing that it's regulated. There's ways to get out of capital gains tax and I do think it's exorbitant in Canada but I don't disagree with the spirit of it. My main point in favour of crypto is the transparency of blockchain as a public database and the anti inflation effect it has. The United States dollar has officially inflated by a little over 30% since 2015 and way more if you account for true inflation and the money printing of the last few years. 

 

@FourCrossedWands Buy a little bit of the top ones like Trump and melania coin to be in the loop meaning less than $500 and do about 10-20 hours of research before you commit any significant percentage of your money. The safest best is straight bitcoin or a stock like Microstrategy that's related to it and then you should buy into different narratives that you believe in.

@Leo Gura I've spent easily a few hundred hours researching economics, finance and crypto over the last year and read a couple books on it and I didn't notice any books related to those subjects on the book list so I'll stick by that claim. Happy to have more elaborate discussions on it, I don't really care about proving I'm right I legitimately think the future of mankind will rest on this technology for the rest of this century.