Are we excited yet?

_BAA_RAM_EWE · 23-01-2025 01:44PM

I have a problem paying it just on the basis of the 20 odd billion wasted in just the last 6-10 years.

quicker the corporate tax boom leaves Ireland the better.

Celtic tiger was the worse thing that ever happened here

erlichbachman · 23-01-2025 04:57PM

https://www.boards.ie/discussion/comment/123089001#Comment_123089001

If corporate tax money leaves Ireland then we are instantly a third world country, we produce nothing, if incentives to stimulate growth in other areas are not created then we are on a ship heading toward an iceberg.

erlichbachman · 23-01-2025 04:58PM

Seems to be US crypto news incoming, this could be the beginning.

HGVRHKYY · 23-01-2025 06:00PM

https://x.com/SenLummis/status/1882454483852255605?t=_-xBoz6wrEO5oIV00CJy2w&s=19

That's the news it seems. She's one of the main people pushing for Strategic Bitcoin Reserves) for states, so it should be positive news. You'd imagine they won't announce much until after they've started accumulating anyway.

If QE returns (jobless claims seem to have been more than anticipated, so this could be more likely if that's a trend) alongside some US states or even the country starting SBRs there'll be FOMO unlike anything in previous cycles. If Meta vote positively to allocate some funds to BTC as well (Zuck was at the inauguration) it should have a knock on effect for other companies.

erlichbachman · 23-01-2025 07:11PM

yea, that to me all but confirms SBR, I mean they can’t just come out and state they will buy x billion of BTC, it will be purchased first and then announced.

_BAA_RAM_EWE · 23-01-2025 08:31PM

Eth lads seem to be fighting amongst themselves alot lately...

https://www.coindesk.com/tech/2025/01/22/ethereum-core-developer-eric-conner-departs-as-vitalik-dismisses-calls-for-leadership-change

dirk_dangler · 23-01-2025 09:05PM

https://www.boards.ie/discussion/comment/123090830#Comment_123090830

ETH is not going to hit the anticipated adoption from the big players about to enter block chain, they will be using their own chain, CCIP will connect them all and end the ETH miners gold mine that is MEV.

It will still do well but not hit the dizzy heights some expect imo.

Thargor · 24-01-2025 12:07AM

Been in crypto for nearly 10 years now but a strategic bitcoin reserve is just so stupid, like stockpiling chocolate teapots, every other strategic reserve has a purpose like being prepared for wars/disasters, what is a pile of BTC supposed to do for America?

_BAA_RAM_EWE · 24-01-2025 12:17AM

https://www.boards.ie/discussion/comment/123092092#Comment_123092092

Those that have loaded up already will be richer.

https://www.forbes.com/sites/davidbirch/2025/01/21/it-is-not-strategic-reserve-a-government-bitcoin-hoard-makes-no-sense/

silliussoddius · 24-01-2025 01:44AM

https://www.boards.ie/discussion/comment/123092092#Comment_123092092

Makes the like of Andressen happy. Trump also seems to be parroting Andressen's debanking claims.

BKtje · 24-01-2025 11:22AM

https://www.boards.ie/discussion/comment/123092092#Comment_123092092

I guess the idea is that they can sell it when they need it. I'm dubious to it being any use as well but what do I know, I don't run the economy of a country.

erlichbachman · 24-01-2025 02:15PM

Are we seriously asking why a government which is gazillions in debt should stock up with the best performing asset in the world?

BKtje · 24-01-2025 03:34PM

No I'm asking why a strategic reserve, why not just add it to the balance sheet like foreign currency is done by the fed or use the money for this to limit further debt which has to be financed. Apparently the financing of their debt is now costing them more than their ample defence budget.

I wouldn't suggest paying down their debt but why a strategic reserve rather than say simply not adding further debt or adding it to the feds holdings to lower inflation by strengthening the dollar rather than high interest rates (or in conjunction with high interest rates). The SNB for example buys weaker currencies and holds them to lower the power of the Swiss franc and BTC would probably be the inverse of that. I am not suggesting that they don't buy it but why the language "strategic reserve", a reserve for what? The strategic oil reserve has a specific purpose, what would the BTC strategic reserve's purpose be other an an investment?

I actually asked this question on another forum I'm in and got some pretty good answers but the most popular one seems to be that it is an attempt to front run the inevitable situation where other countries will do it.

erlichbachman · 24-01-2025 04:48PM

yea, the language used is fairly vague, I believe it also says digital rather than specifically BTC which has highly offended the maxis, my understanding is that a strong dollar is not really ideal for trade and there is still the volatility to consider so maybe not appropriate to have on a balance sheet. Was it ever reported specifically why Microsoft refused to jump on?

BKtje · 24-01-2025 05:16PM

I think it was simply, shareholder says no.

EDIT: 99.45% of shareholders said no apparently

erlichbachman · 24-01-2025 05:59PM

But I don’t believe it was ever reported specifically why such a massive rejection, I had assumed, with no real basis, that it could be due to the impact on the balance sheet if held.

endainoz · 25-01-2025 06:37PM

https://www.boards.ie/discussion/comment/123095433#Comment_123095433

The online maxi meltdown has been pretty funny to read through though. They seem to feel terribly threatened by xrp for some reason.

Peregrinus · 26-01-2025 04:33AM

https://www.boards.ie/discussion/comment/123094840#Comment_123094840

The best peforming asset in the world is, by definition, an extremely expensive thing to buy.

So, are we seriously asking why a government which is gazilliions in debt should get even further into debt in order to buy an extremely expensive asset for which it has no clear use in mind? Yes. Yes, we are. Why are we asking that? Because we're not drivelling idiots, that's why.

_BAA_RAM_EWE · 26-01-2025 04:41AM

….

https://news.bitcoin.com/world-chain-adopts-chainlink-ccip-for-cross-chain-operations/

dirk_dangler · 26-01-2025 02:09PM

https://finance.yahoo.com/news/eric-trump-confirms-u-based-013000983.html

Eric Trump has confirmed that US-based crypto projects, will benefit from a zero capital gains tax, while non-US projects will face a 30% capital gains tax.

Time to dispose of non US based crypto?

Also, Sen. Ted Cruz plans to introduce a Congressional Review Act resolution next week to overturn a controversial IRS rule requiring certain DeFi brokers to report gross proceeds and provide user data, including names and addresses.

Clearing the way for foreigners to take advantage of zero CGT on US based crypto?

Big changes coming from USA that will have effects over here in the EU eventually, one way or another change will have to come to the EU or big crypto money will just up and leave for the US.

Now with Trump going to bring back the US companies corporation tax from Ireland one way or another, the Irish Government is looking at a massive hole in finances in the coming years, if they where smart/bold they would now be making a play for the EU crypto market.

Make it so no Tax on trades between Crypto and you pay a fair 10% on cashing out, keep it so simple no one will get confused, Ireland would capture the entire EU crypto market and the billions of Euro in Taxes.

But, But, But that cant be done! I say BS, where there is a will there is a way, copy Swiss banking privacy laws, wrap it in the EU GDPR law and make it easy for EU citizens to open a bank account here in Ireland and cash out, the money will flood into the country and pay 10% for it.

https://www.investopedia.com/ask/answers/08/swiss-bank-account.asp

We already thumb out nose at current EU corporation tax laws, so this type of crypto tax would just be a continuation in the same manner, the EU would bitch and moan but could do nothing about it.

erlichbachman · 26-01-2025 03:10PM

https://www.boards.ie/discussion/comment/123100144#Comment_123100144

Can you actually explain how BTC is an “extremely expensive thing to buy”? Do you actually understand what it means to be the best performing asset?

Let me know if you need some help understanding these terms.

Donald Trump · 26-01-2025 03:17PM

https://www.boards.ie/discussion/comment/123100901#Comment_123100901

"US based crypto" ……….. so much for magic decentralisation, eh?

Anyone for the last of the tokenised Amazon gift vouchers? They are on a blockchain …. maybe ….

Quiet Achiever · 26-01-2025 03:31PM

Removing cgt from american projects while the Trump family creates their own crypto projects. They will grift the industry to death and the likes of Brian Armstrong will cheer it on

dirk_dangler · 26-01-2025 04:32PM

https://www.boards.ie/discussion/comment/123101135#Comment_123101135

Trump is giving investors world wide a cheat code, legal clarity for US investors is next up and once that is sorted US based crypto are practically guaranteed to pump, if you are not savvy enough to see this you are not going to make it.

The fact that you are posting here means you are aware of crypto and have a head start on 90% of the population, you would be foolish to look this gift horse in the mouth, play your cards right and you will profit, rotate out of non-US crypto and into US crypto and you will be in a solid position for the year ahead.

dirk_dangler · 26-01-2025 04:46PM

https://www.boards.ie/discussion/comment/123101093#Comment_123101093

I don't think you fully understand decentralisation in the crypto sense, no one entity can control 51% of the crypto and control it , if its US based does not mean there cant be owners or nodes world wide but it will solve one massive problem, it will bring legal clarity to these cryptos as the US Government/SEC will set them, once this happens i expect these US based cryptos to dominate the market.

If you are here posting you are at least somewhat curious about crypto, might be the perfect time for you to invest a few quid and get the jump on the 90% who are hitherto ignorant of it, this will soon change once Uncle Sam gives his seal of approval, the herd is coming bringing huge profits for those in early.

_BAA_RAM_EWE · 26-01-2025 04:55PM

https://www.boards.ie/discussion/comment/123101407#Comment_123101407

still no benefit here. Portugal is 0% on crypto.

All this just wants me to get out of it altogether with this blatant manipulation.

Donald Trump · 26-01-2025 04:56PM

https://www.boards.ie/discussion/comment/123101407#Comment_123101407

I think I have a fair idea. I can talk to you all day about various consensus mechanisms and network protocols if you'd like?

Decentralisation in the "crypto" sense of the word means something different to redundancy or backup or failovers. You're not taking about load balancing or caching for content delivery. It's not just a distributed master-slave model of computing power, nor one with a central node at the centre (star network topography for your basic 101 design).

erlichbachman · 26-01-2025 05:01PM

I’m just happy that cardano is considered to be of US origin, because I’m pretty sure when Gensler was asking it then was from Hong Kong.

dirk_dangler · 26-01-2025 06:28PM

https://www.boards.ie/discussion/comment/123101431#Comment_123101431

EU banks will have no problem turning over your info to a country looking to tax you, if remains to be seen if the USA as the "world capital of crypto" will do the same.

This is Trump we are dealing with, all bets are off, no one knows what he will do, and if it can diminish the EU while MAGA in the world of crypto there is a chance he will actively seek out EU investors to cash out in US and knock the EU's standing in crypto.

With the way that EU countries are spending tax payers money on Ukraine and economic migrants , Starmer in UK cutting the winter fuel allowance for pensioners, and last week signed up to provide Ukraine £3 Billion a year for the next 100 years!

There will be no end of EU/UK citizens who would head off state side to cash out tax free if the US facilitated a easy way to deny funding this madness with their tax money.

dirk_dangler · 26-01-2025 06:31PM

Give you a idea of what could be winners in the coming year.

Are we excited yet?

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