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DAILY UPDATE: Celebrate President’s Day 2023

Posted on February 20, 2023 by Dr. Marcinko

By Staff Reporters

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U.S. Markets will be closed for Presidents’ Day. The U.S. Markets will be closed on Monday, February 20, 2023. Please be aware that, when making brokerage transactions after 4 p.m. EST on Friday, February 17, 2023, you will receive the closing price as of Tuesday, February 21, 2023.

But crypto trading takes no days off, and despite the fallout from FTX’s collapse and a flurry of crackdowns by regulators, bitcoin has been on a nice run lately. Last Thursday, it topped $25,000 to hit an eight-month high.

CITE: https://www.r2library.com/Resource/Title/0826102549

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PS: Did you know that Presidents Day (today) doesn’t actually fall on any president’s birthday? While originally celebrated on February 22, the day George Washington was born, the holiday was moved to the third Monday of February in 1971. That’s because Congress passed the Uniform Monday Holiday Act, which moved some federal holidays to Monday so we could all enjoy more three-day weekends.

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: Alerts Sign-Up, iMBA, Inc., Investing, LifeStyle | Tagged: 2023, Celebrate President's Day 2023, crypto, crypto-currency, DAILY UPDATE: Celebrate President's Day 2023, February 20, February 20 2023, FTX, President's Day, Uniform Monday Holiday Act, us markets, US Stock Markets | Leave a comment »

DAILY UPDATE: Crypto Staking, the IRS and Inflation

Posted on February 13, 2023 by Dr. Marcinko

By Staff Reporters

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In a first-of-its-kind settlement with the SEC, the crypto exchange Kraken will stop offering crypto staking services in the US. The regulatory crackdown sent a chill across the crypto industry, since staking (crypto’s version of a high-yield savings account, as CoinDesk explains it) is a growing source of revenue for crypto platforms. Shares of Coinbase, the largest crypto exchange in the US, dropped the most since July on the news.

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The IRS is asking millions of taxpayers in 22 states including California and Colorado who received tax rebates last year to hold off on filing their taxes. Why? The agency said it is seeking to clarify whether those tax rebates and special refunds are considered taxable income. “We expect to provide additional clarity for as many states and taxpayers as possible next week,” the IRS said on February 3.

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Inflation going back up? The big economic data release of the week is Tuesday’s consumer price index report. It probably won’t be cause for celebration, because inflation is expected to have ticked back up in January. If so, it’ll fan more fears that the economy is heating up when the Fed wants it to keep cooling down.

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, Information Technology, Investing, LifeStyle, Taxation | Tagged: crypto, crypto-currency, crypto-staking, fed, FOMC, inflation, IRS | Leave a comment »

CRYPTO-CURRENCY: Worth Since 2020?

Posted on January 18, 2023 by Dr. Marcinko

By Staff Reporters

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Winners Since March 2020:

Here’s how much $100 in each of the following cryptocurrencies and stocks back at the bottom of the U.S. market in March 2020 would be worth today:

CITE: https://www.r2library.com/Resource/Title/0826102549

Bitcoin (CRYPTO: BTC): $405.67
Ethereum (CRYPTO: ETH): $1,268.90
Dogecoin (CRYPTO: DOGE): $4,731.19

DHIT: https://www.amazon.com/Dictionary-Health-Information-Technology-Security-ebook/dp/B005F84GF2/ref=sr_1_3?crid=2SQPPJMMUV55D&keywords=david+marcinko&qid=1674073311&sprefix=david+marcinko%2Caps%2C115&sr=8-3

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Filed under: "Ask-an-Advisor", Alternative Investments, Breaking News, Health Economics, Information Technology, Investing | Tagged: Bitcoin, crypto, crypto-currency, cryptocurrency, dogecoin, Ethereum | Leave a comment »

CRYPTO-CURRENCY: Trades 24/7/365

Posted on January 16, 2023 by Dr. Marcinko

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The US stock and bond markets are closed today for MLK Day, so we’ll have to wait 24 more hours to see if this year-opening rally will continue for a third week.

But crypto currency trades 24/7, and the same hopeful inflation news that’s been lifting stocks has also given life to beaten-down cryptocurrencies. Bitcoin gained for the 11th straight day on Saturday, topping $20,000 for the first time in more than two months.

So, here are some ways in which the non-stop crypto market affects institutions — banks and exchanges, in particular.

The stock market takes a break every day, and every weekend. That gives all the players in the market — individual investors and institutions — a chance to assess and reposition their assets for their next moves. But since crypto trades all the time, there are stretches during the 24-hour day when banks and exchanges are effectively closed, and money isn’t being moved around as quickly or efficiently as it would during business hours.

This can cause lags — if a crypto trader is trying to deposit money into their crypto exchange account to execute a trade at, say, 2 am ET on a Sunday night, that money won’t actually move until the next day. That has the potential to cause some friction in the markets.

CITE: https://www.r2library.com/Resource/Title/0826102549

In short, there’s a mismatch between the standard business hours of many institutions and the 24-hour nature of the crypto markets, which may have an effect on the markets.

MORE: https://www.newsnow.co.uk/h/Business+&+Finance/Cryptocurrencies

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: Alternative Investments, Glossary Terms, Information Technology, Investing | Tagged: crypto, crypto 24/7/365, crypto trades 24/7, crypto-currency, cryptocurrency, RYPTO-CURRENCY: Trades 24/7/365 | Leave a comment »

FTX SCANDAL: Who is John J. Ray III?

Posted on December 18, 2022 by Dr. Marcinko

By Staff Reporters

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FTX’s New Chief Executive Officer?

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John J. Ray III (born January 1959) is an American attorney and insolvency professional. He specializes in recovering funds from failed corporations. He was appointed CEO of cryptocurrency exchange FTX in the aftermath of its November 2022 collapse.

MORE: https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-rayj-20221213.pdf

He previously served as chairman of Enron Creditors Recovery Corp., a company tasked with recovering creditor funds from Enron in the wake of its accounting scandal and subsequent collapse. He also worked on the bankruptcies of Nortel, Residential Capital, and Overseas Shipholding.

CITE: https://www.r2library.com/Resource/Title/082610254

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ORDER: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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Filed under: "Ask-an-Advisor", Accounting, Alternative Investments, Breaking News, Glossary Terms, Health Economics, Information Technology, Investing | Tagged: crypto, crypto-currency, FTX, John J. Ray III, John R. Ray, John Ray | 1 Comment »

IRS: Taxes, NFTs and Crypto-Currency

Posted on December 5, 2022 by Dr. Marcinko

By Staff Reporters

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You have to report your crypto and NFT transactions to the IRS

While not technically new, for 2022 the IRS is making a more concerted effort to track cryptocurrency sales and trades. Whenever you sell or trade your crypto or purchase an item with crypto, you trigger a taxable event. Currently, crypto is taxed like property, making it subject to short- or long-term capital gains taxes. This also means you can report any crypto losses to help offset any gains. Since 2022 saw a drastic drop in the value of cryptocurrencies like bitcoin and ethereum, if you sold or traded your crypto at a loss, you may be able to reduce your tax bill by reporting your capital loss. The same goes for NFTs.

And though the IRS will flag any unreported crypto gains, if you don’t report a loss that can lower your tax burden, the IRS won’t adjust your return on your behalf. “If you leave it off, it stays off,” said Steber. “Tax deductible losses from your virtual currency activity do have real consequences on your tax return, and can save you real dollars. So I always tell people, if you’ve got something that you don’t fully understand, you certainly should seek out guidance from a trained experienced tax professional.”

CITE: https://www.r2library.com/Resource/Title/082610254

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ORDER: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: Accounting, Alternative Investments, Information Technology, Investing, Taxation | Tagged: crypto, crypto-currency, IRS, NFTs, NFTs and Crypto-Currency, taxes | Leave a comment »

PODCAST: Turning a PBS Interviewer into an NFT Interviewee

Posted on September 23, 2022 by Dr. Marcinko

On the Non-Fungible Token Market

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By Vitaliy Katseneson CFA

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Turning a PBS Interviewer into Interviewee

I was interviewed on PBS Newshour about the insanity that is happening in the NFT (non-fungible token) market. You can watch it here. If you read my “I Kid You Not Crazy” article, then you know everything I have to say about NFTs and cryptocurrency. I can sum up my thoughts on NFTs in one sentence: NFTs, just like cryptocurrencies, are a technology of the future, but a speculative bubble induced by excess global liquidity in the present.

I encourage you to watch this eight-minute video – PBS did a great job.

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https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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Filed under: "Ask-an-Advisor", Alternative Investments, Experts Invited, Investing, Videos | Tagged: crypto, crypto-currency, NFTs, Non Fungible Tokens, PBS, Vitaliy N. Katsenelson | Leave a comment »

WHAT IS “GRESHAM’S LAW” OF MONEY ECONOMICS?

Posted on September 2, 2022 by Dr. Marcinko

Is it still relevant today?

Courtesy: www.CertifiedMedicalPlanner.org

The law was named in 1860 by Henry Dunning Macleod, after Sir Thomas Gresham (1519–1579), who was an English financier during the Tudor dynasty. However, there are predecessors.

The law had been stated earlier by Nicolaus Copernicus. It was also stated in the 14th century, by Nicole Oresme in his treatise On the Origin, Nature, Law, and Alterations of Money, and by jurist and historian Al-Maqrizi (1364–1442) in the Mamluk Empire; and noted by Aristophanes in his play The Frogs, which dates from around the end of the 5th century BC.

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IOW: It is the tendency for money of lower intrinsic value to circulate more freely than money of higher intrinsic and equal nominal value (often expressed as “Bad money drives out good”).

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Gresham’s Law applies to new coins and worn coins. Worn coins are likely to have lost some of their metallic weight through wear and tear, so they should have less value than new coins. But government sets them to have the same value. Thus worn coins are artificially overvalued and new coins are artificially undervalued.

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So, is Gresham’s Law still relevant today?

THINK: The modern Bitcoin, and related crypto-currency, controversy? We asked colleague Timothy J. McIntosh CFP® MPH CFA for some insights.

ESSAY: https://medicalexecutivepost.com/2014/01/23/understanding-currencies-bitcoins/

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Filed under: Alternative Investments | Tagged: Bitcoin, crypto-currency, GRESHAM’S LAW, Timothy J. McIntosh CFP® | 2 Comments »

CURRENCY: Crypto -OR- Fiat?

Posted on July 17, 2022 by Dr. Marcinko

From Morning Brew

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Information Technology: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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Filed under: Accounting, Experts Invited, Glossary Terms, iMBA, Inc., Information Technology, Investing | Tagged: chomsky, crypto, crypto-currency, fiat, Morning Brew, noam | Leave a comment »

BITCOIN: A Subjective Theory for Physicians

Posted on May 11, 2022 by Dr. Marcinko

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By Michel Accad, MD

Michel Accad MD Practices internal medicine and cardiology in San Francisco

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In a recent article on the Mises Institute’s Power and Market blog, Kyle Ward appealed to the subjective theory of value to castigate Peter Schiff for his notorious skepticism of Bitcoin:

READ: http://alertandoriented.com/the-subjective-theory-of-bitcoin/

CITE: https://www.r2library.com/Resource/Title/082610254

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Filed under: Experts Invited, Glossary Terms, Health Economics, Industry Indignation Index, Investing | Tagged: Bitcoin, crypto, crypto-currency, Kyle Ward, MICHEL ACCAD MD, Peter Schiff | 2 Comments »

UPDATE: The Stock Markets, Crypto Currency and Vladimir Putin

Posted on February 22, 2022 by Dr. Marcinko

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By Staff Reporters

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Markets: The domestic markets were closed yesterday as stocks around the world tumbled.
Crypto: Bitcoin was trading at $36,649 at 2:30 a.m. ET, falling nearly 6.5% in the last 24 hours, according to data from CoinDesk. The world’s most valuable cryptocurrency fell below $40,000 over the weekend, and has continued to slide as the Ukraine crisis intensifies. The currency has lost almost half its value since its November high of $68,990 due to geopolitical tensions, the prospect of interest rate hikes by the US Federal Reserve and curbs by some major economies on digital assets. Bitcoin’s peers have also been faring poorly. Ethereum, the world’s second most valuable cryptocurrency, fell over 8% in the last 24 hours and was trading at $2,520.
Putin: Russian President Vladimir Putin dramatically escalated the Ukrainian conflict. He recognized two separatist regions in eastern Ukraine as independent and ordered Russian troops to enter those areas, which may provide the pretext for an invasion of other parts of the country. Western leaders condemned the move as a violation of international law and the US said it will impose sanctions on those regions.

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Filed under: Alerts Sign-Up, iMBA, Inc., Investing | Tagged: Bitcoin, coindesk, crypto, crypto-currency, Ethereum, Investing, Putin, Russia, Ukraine | 2 Comments »

UPDATE: Markets and Crypto-Currency

Posted on January 8, 2022 by Dr. Marcinko

By Staff Reporters

Stock Markets: The S&P is off to its worst start to a year since 2016, and the NASDAQ fell 4.5% this week—its worst drop since February 2021. The Fed’s hawkish pivot + rising bond yields are really pounding technology stocks.
Crypto-Currency: Bitcoin fell to its lowest level since last September, and other cryptos like ethereum and solana are also in the doghouse. It appears as though the Fed’s move to raise borrowing costs and the turmoil in mining powerhouse Kazakhstan are dragging down prices.
CITE: https://www.r2library.com/Resource/Title/082610254

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Filed under: Alerts Sign-Up, Breaking News, Glossary Terms, Investing | Tagged: crypto, crypto-currency, Ethereum, Investing, NASDAQ, S&P, sOLANA | Leave a comment »

No More ICO’s Before Reading This …

Posted on September 16, 2018 by Dr. Marcinko

To my valued connections,

By Alan Yong

I have serious concerns about the current state of ICO’s and their future potential could be in jeopardy, if the current trend continues. Please take a moment to read the following articles before investing in, participating with, giving legal advice on, or launching your own ICO. Personally, I believe that ICOs are the best tools for capital formation if properly regulated.

Investopedia report finds 80% of all ICO’s to be scams – 92% never reach exchange
https://www.investopedia.com/news/80-icos-are-scams-report/

Alan Yong Provides Long Term Viability Solution for ICO’s
https://www.nasdaq.com/press-release/dnotes-global-ceo-alan-yong-cites-nextgen-vc-as-solution-for-ico-conundrum-20180906-00718

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Filed under: Investing | Tagged: Alan Yong, Bitcoin, crypto-currency, ICO's | Leave a comment »

What the heck is an Initial Coin Offering anyway?

Posted on September 11, 2017 by Dr. Marcinko

Wither the I.C.O.

By MIT Technology Review

bitcoin

You may have heard a buzz surrounding the new fundraising tool known as an ICO, which is how many new blockchain startups are raising cash.

But for those of you who are too embarrassed to ask, let us tell you what they’re all about.

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Filed under: iMBA, Inc., Investing | Tagged: Bitcoin, crypto-currency, Initial Coin Offerings | 5 Comments »

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