Bitcoin And The Changing Definition Of CPI
The constant adjustments to the measuring stick of inflation mislead and confuse those looking for a sound store of value.Below is the definition of the Consumer Price Index (CPI) by the U.S. Bureau of Labor Statistics:“The CPI represents changes in prices of all goods and services purchased for consumption by urban households. User fees (such as water and sewer service) and sales and excise taxes paid by the consumer are also included. Income taxes and investment items (like stocks, bonds, and life insurance) are not included.” - U.S. Bureau of Labor StatisticsHowever, the definition was....
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We’re not just witnessing the changing nature of market forces. We’re also seeing a shift in the definition of market “fundamentals.”
2016 has been a year of full of surprises. Unexpected events like the rise of Donald Trump and the victory of the 'Brexit' supporters in the UK have left a trail of baffled "experts" and commentators in their wake. The scaffolding that has held the global order in place for the past 20 years has taken a string of unanticipated hits from unlikely sources, and the powers that be have looked clumsy as they have tried to adapt. It is difficult to pin down, but it feels like something big is changing in our world. Now, as blockchains stand poised to impact the world of protocols, this....
Digital currency transactions should be treated in the same way as fiat currency transactions for the purposes of Goods and Services Tax (GST), according to the Australian Senate Economics References Committee. A new report from the committee suggests changing the way in which transactions involving bitcoin or other digital currencies are classified. The recommendation represents a significant shift from a previous ruling by the Australian Taxation Office (ATO), which stated digital currencies were "intangible assets" and should be taxed as such. The report, titled Digital Currency - Game....
The Department of Financial Institutions (DFI) of Washington has included the cryptographic currencies in the common definition of the term “Money”. The alternations can be observed in the Revised Code of Washington (RCW) tile 19, chapter 230 “Uniform money services act”, 010 Definitions or simply RCW 19.320 Definitions: “(16) “Money” means a medium of exchange that is authorized or adopted by the United States or a foreign government or other recognized medium of exchange. “Money” includes a monetary unit of account established by an intergovernmental organization or by agreement between....
The DC-based non profit believes the SEC is making a gross overreach with its new proposed definition of exchange as it would include the means of communication and not just trade. Nonprofit blockchain advocacy group Coin Center has called the Securities and Exchange Commission’s (SEC) proposed redefinition of an “exchange” an “unconstitutional overreach.”The lobby group made the comments in a written response to the SEC’s March 18 Amendments Regarding the Definition of “Exchange”, which details changing the meaning of “exchange” from a “system that brings together the orders” of a....