What Is Bitcoin?

‘Pirate’ Streaming Apps Beat Netflix and Disney in Brazil’s Play Store

Pirate streaming apps are leading the entertainment category in Brazil's Google Play Store. These unauthorized streaming apps draw a massive audience and beat official streaming platforms such as Netflix, Disney, and HBO in download rankings. While piracy is a worldwide phenomenon, Brazil certainly stands out.

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Bitcoin saw a modest increase of 1.8% in the past 24 hours as of Dec. 9, 2023. Meanwhile, more than 17 crypto assets experienced much larger gains, ranging from 7% to over 35% in the same timeframe. Despite this rise in various altcoins against the

#Blockchain #Crypto

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El Salvador’s Bitcoin Adoption Starts To Pay Off, Profits Exceed $3.6 Million

Share this article El Salvador, the first country to adopt Bitcoin as legal tender, reports profits from its investment in the cryptocurrency. El Salvador president, Nayib Bukele, announced on Monday that his country had profited more than $3.6 million from its bitcoin investment, the cryptocurrency it adopted as legal tender last September. Bukele said that his government had bought 550…

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You know, the entire US economic system is so messed up and so is a lot of your views of it (and I mean on both sides, I also include myself in this since I often don't realize until I *really* think about it) but like. Let's start by talking about taxes. There was a post going around lately that was like

Anyways this is not true. You can deduct INTEREST on mortgage from your taxes. Not mortgage itself. And for renters, in 23 states you can do the same. It's meant to be an offset for property taxes, which, in case you didn't know, are INSANE. Like my family pays more taxes on our house and property then on THE ENTIRE REST OF OUT TAXES, and we're in the top tax bracket. They don't tax you nearly enough on your ACTUAL INCOME but tax you way to much on your property and stock. It's basically based on, if you sold everything right now, what would we then be able to tax you. It's not measuring how much you make on a year to year basis, it's measuring how much you managed to save up over a long period in order to buy your big household a home that has enough space for everyone. It's definitely possible with housing/property taxes for them to cost so much that you can no longer afford your house and land, that you reasonably worked and saved up for. That's kind of unfair. Especially if you bought it when housing was cheap, and since the value on such things has gone up, so have your taxes. You weren't spending an insane amount of money on it. But now it's worth about 1.1 million and you've gotta move out or pay taxes on that. That's a thing that happens.

And meanwhile, a mega rich person who loves the city and therefore doesn't bother with a lot of land is taxed less than the moderately well off person in the previous example.

So the tax system is messed up, people need to pay more based on their actual income and less based on their homes.

Oh another thing with taxes is you know how charitable donations are tax deductible? Yeah only to a certain amount, meaning that there is no incentive for rich people to donate the proper amount given their income. Yes, I think they should give regardless of whether they're going to be rewarded for it, but people who hoard THAT MUCH money are selfish, and they're not going to. My family is not even that rich (dad worth something in the 10s of millions) but the amount we give (no big deal for us) is ALREADY well above the amount you can deduct from taxes. And we don't mind, but the super rich? Do you think they're going to go out of their way to support causes with anything more than petty cash and not be rewarded for it? They're not.

Ultimately, they shouldn't have such extravagant amounts of money in the first place, since they didn't work for it. My dad, which I mentioned previously, works 10+ hours a day, often including weekends. That's real work. His field is high paid and he in particular is high paid since he's the only one who can do what he does, and he gets extra for INVENTING most of the things his companies are based on, which he, you know SPENDS TIME STUDYING AND WORKING ON AND CREATING. He's not making tons of money just by owning something. That's wrong. All that excess cash should be going to the people who actually do the work.

And I think for the most part everyone acknowledges this, but y'all talking about killing the 1% doesn't realize how broad the 1% is. That includes doctors, lawyers, high level computer scientists, that WORK for their living, and are not exploiting you. Who you're looking to target is the owners, the people who hoard billions or trillions of dollars in wealth. Do you even know how much a trillion is? Let's say you take a rich person worth about 10 million. Ok how much more does someone worth a trillion make? They make 100,000 times more. What can you afford these days with 10 million? A nice house, decent cars for the household members that drive, some land, the ability to not worry about medical bills and to pay for college, plus a bit extra to save or give to charity. How nice. A lot of people don't have that privilege. What about 1 trillion? There is not a house in existence that will make a dent in your finances. You could send your children to any college they want for their whole lives and not make a dent in your finances. You could buy companies on a whim with almost no consequence. It's not right. It's especially not right when other people have trouble paying for both rent and groceries.

If we redistributed the 8 richest people's wealth (the 8 of them have more money than the poorest HALF of the planet combined), you all could afford a home, food, a good education, and have a reasonable amount left over.

And this is why, even growing up rich, I'm such a communist. It is not a fever dream for us ALL to be able to live, comfortable, reasonable lives. The current wealth in the world redistributed, and suddenly everyone could live like I do. It isn't lessening the average person's quality of living. For the vast majority of us, communism done right is nothing but an upgrade. Yeah so a fistful of billionaires and trillionaires will be really upset. They'd still have enough to live comfortably and yet they're the ones who own so much they can effectively block any progress in this direction. It's pure selfishness.

Ambitious people with no direction dig for gold, poor people complain about the price of the shovel, while the wealthy are selling the shovels.

SELL THE SHOVEL.

https://coinmystique.com/former-sec-chair-jay-clayton-optimistic-about-bitcoin-etf-approval-regardless-of-delays/?feed_id=9401&_unique_id=65289a64a231a

Jay Clayton, the previous Chair of the US Securities and Change Fee (SEC), has shared his optimism concerning the eventual approval of Bitcoin (BTC) spot Change-Traded Funds (ETFs) by the SEC. Regardless of the regulatory physique’s repeated delays and cautious method, Clayton believes that the approval of a Bitcoin ETF is on the horizon.In a latest CNBC interview, Clayton highlighted the demand from retail traders and the eagerness of respected asset managers like BlackRock, WisdomTree, and Ark Make investments to supply a Bitcoin ETF to the general public. Whereas the SEC has been involved about market manipulation, investor safety, and custody of digital property, Clayton’s confidence within the certainty of approval underscores the importance of Bitcoin’s distinctive decentralized nature.Clayton made a noteworthy distinction by stating, “It is clear that Bitcoin is not a security.” This recognition is essential as securities fall underneath the regulatory purview of the SEC. The previous SEC Chair emphasised that Bitcoin’s reputation amongst retail traders in search of regulated publicity to this rising asset class, coupled with the willingness of credible monetary establishments to supply regulated funding merchandise, makes the approval of a Bitcoin ETF a matter of time.Nonetheless, the approval course of has skilled delays. WisdomTree’s software for a Bitcoin spot ETF, amongst others, has been topic to postponements. These delays have raised hypothesis concerning the timeline for approval. James Seyffart, an ETF specialist at Bloomberg, prompt extending the evaluation course of by 45 days, probably pushing the approval timeline past October.Seyffart’s cautionary perspective aligns with the complexities of the regulatory panorama. The anticipation of updates from the SEC has led trade specialists and market members to watch the state of affairs carefully. The choice by the SEC relating to Bitcoin ETFs may have a far-reaching affect on the broader cryptocurrency ecosystem and investor sentiment.Because the crypto group awaits additional communication from the SEC, Clayton’s optimism and the regulatory hurdles remind market members of the doubtless transformative impact a Bitcoin ETF approval may have on mainstream adoption and broader acceptance of cryptocurrencies. Supply: https://bitcoinworld.co.in/former-sec-chair-jay-clayton-optimistic-about-bitcoin-etf-approval-despite-delays/