With Demand For Tax Havens Growing, Bitcoin Makes Them Obsolete
Tax havens are renowned for allowing the rich and famous to shuffle their funds where governments can’t see or access them. Bitcoin, with its strong store of value, borderless nature, and unprecedented privacy, has the ability to obsolete tax havens. Some investors, especially those in countries with high rates of taxation, seek to find ways of providing their savings with privacy and anonymity. This can be for various reasons, from tax evasion, a fear of loss of funds or to a simple desire for privacy. According to cryptocurrency investor Marc De Mesel, cash serves part of this purpose,....
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Further to CoinTelegraph's investigation into Bitcoin's potentially lethal impact on the banks, The Financial Times reported Tuesday that Switzerland has agreed to share the identities of foreign owners of Swiss bank accounts with their home countries. This move reverses centuries of Swiss commitment to banking privacy. Switzerland, long one of the world’s financial capitals, traditionally protected all bank account holders’ privacy and anonymity. We’ve all grown up with a particular idea of what it means to have a Swiss bank account. That idea, and those ideals, are obsolete. Forty-seven....
If experts are right, one of bitcoin's prevailing characteristics could also be its biggest problem - a fixed supply that helps to send prices yo-yoing. They say that cryptocurrencies with flexible supply would help to avoid scaring everyday users away. Even in bitcoin's digital universe, the same basic economic rules apply, with price being determined by supply and demand. Bitcoin's algorithm makes the supply of bitcoins predictable, with a constant stream of bitcoins distributed via block rewards that halve at a preset rate. This leaves demand to fluctuate. Bitcoin's bouncy demand. In....
Bitcoin ATM units in the U.S. have nearly doubled in a year, indicating a growing demand from retail investors who seek convenience.
With the appearance of Metaverse, GameFi projects’ popularity is increasingly growing in the blockchain space whereas Web 2.0 traditional tools seem to be obsolete and not adapted to the Web 3.0 conceptual step up. This instrumental gap is filled by a unique partnership between Secretum and Edensol. Security, transparency, decentralization and immediacy as fundamental values […]
As Ethereum’s transition to EIP-1559 and Ethereum 2.0 loom ever closer, discussions over the future of GPU mining have swept over the crypto mining community. If EIP-1559 fails to bring down Ethereum’s obscenely high transaction costs and thus drive Ethereum mining obsolete, the shift to proof-of-stake certainly will. While these thoughts are a dime a […]