PODCAST: Curmudgeon On “Crypto-Currency”

Posted on January 9, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Curmudgeon on Crypto-currency


Vitaliy Katsenelson, CFA

Your thoughts and comments are appreciated.

THANK YOU

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6 Responses

  1. Vitaliy Katsenelson, CFA, on July 1, 2021 at 4:00 PM said:

    Crypto technologies

    I want to do a small follow-up to my previous article above about cryptocurrencies. I received many emails from readers explaining to me that I had ignored the revolutionary nature of blockchain as a technology. I did not. I am actually fascinated by what blockchain may be able to accomplish. The more I learn about it, the more I realize that Bitcoin was a revolutionary invention as a technology, but far from a perfect one. There are many other strong rivals that are faster, more energy efficient, and smarter (programmable), which are trying to unseat it. This is why there are now thousands of “currencies” (technologies) out there with new ones coming weekly.

    I have found that learning about them is fascinating; each one has a different philosophical and technological approach. But again, I look at them as technologies, not currencies.

    Vitaliy Katsenelson, CFA

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  3. Kramer, on August 11, 2021 at 1:25 PM said:

    New tax regulations on cryptocurrencies

    A provision tucked away at the end of the new Senate bill would impose tax reporting requirements on cryptocurrency transactions — a move that congressional estimates say could raise $28 billion in new revenue to help pay for the infrastructure package. The legislation could have sweeping ramifications for cryptocurrency investors and innovators.

    The provision appears aimed at cryptocurrency exchanges that help investors trade bitcoin and other virtual currencies. But opponents argue that the measure is written so broadly it could also unintentionally affect others in the cryptocurrency ecosystem — from software developers to bitcoin miners, who aren’t considered financial brokers in any practical sense. Industry advocates have said those non-brokers couldn’t provide the tax information that would be required under the law and could be driven overseas as a result, with negative effects on innovation and US technological leadership.

    In a last-ditch effort, a group of senators unsuccessfully tried to amend the infrastructure bill to make clear that only cryptocurrency exchanges would be covered by the new tax reporting rules — and cryptocurrency advocates have vowed to pressure House lawmakers to adopt narrower language.

    Kramer

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  4. Kramer, on September 25, 2021 at 11:51 AM said:

    OH NO – CRYPTO!

    Chinese residents can no longer trade crypto on peer-to-peer platforms like WeChat Pay and AliPay (the Venmo and Zelle of China).
    And, mining cryptocurrency is now completely illegal.

    A new order also reiterated a pre-existing ban on overseas exchanges conducting transactions within China.

    Kramer

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