Elon Musk’s Bitcoin Odyssey | Hodler's Digest

it was the midterms in the US this week and the Blue Wave did not happen quite as predicted but can we say the same for Bitcoin Bowl Mike Novogratz his price prediction the Bitcoin will surge past 20k in 2019 well one unknown indicator that Bitcoin could be on its way to a supersonic bull run might be that the leading crypto has finally made it on to the prestigious goop web site witness Paltrow's multi-million dollar wellness company it could be an indicator or it could just be that if you give gwynnie money he'll shill it like her last names McAfee and all out of Fiat but really want a fancy watch have no fear luxury watchmaker who blow is selling a 25k watch exclusively in Bitcoin to commemorate last week's 10-year Bitcoin white paper anniversary also this week the midterms in crypto the Elon Musk Bitcoin Odyssey China bans airdrops a 400k crypto tax bill and if you stick til the end we can reveal exclusively the true identity of Satoshi Nakamoto ladies and gentlemen here's your weekly ha dollars digest in late October Elon Musk jokingly offered to sell a followers some Bitcoin Twitter HQ didn't get the joke and locked his account the assumption his account was hacked was misguided the Tesla CEOs account was soon reinstated well this month fiction became reality when some verified accounts were hacked by scammers instead a film production company path UK and US politician Frank pallone jr. a must of fake eelain's appeared in their place the scammers changed pictures and more importantly subtly misspelled Ellen's name to avoid detection from Dorsey in his Twitter suits once cameras wallet received nearly one hundred and seventy two when they posted his fake Elon and really Long's Twitter threads offering a big crypto giveaway in exchange for just a little crypto victims were promised big rewards the rewards of course never came you only have to look at the Twitter handles at the Great and the good on crypto to realize that there are innumerable impersonators out there and yet it seems that mistake Ilan's are particularly prevalent to get an idea why let's take a closer look at Ellen's online Bitcoin Odyssey the first sign of Satoshi speculation a former SpaceX intern spills the beans that time he claimed his flamethrower had its own blockchain at that time he went to the dark side that calm before the scan from fake Ilan's to the real Satoshi it's no wonder that the SpaceX CEO is so concerned about AI and so keen to move to Mars where he can't seem to controls multiple identities here on earth the People's Bank of China China's central bank might be cracking down on token airdrops suspected to be disguised initial coin offerings airdrops are free token distributions usually launch by crypto startups for marketing purposes in an official report Chinese authorities expressed concern that free distribution of crypto tokens might be used as a way to circumvent the ban on icos in the Middle Kingdom also this week China's central bank issued an official warning about possible bubbles hiding behind blockchain investments director of the Research Bureau of the PBOC Xue Zhang stated there are few blockchain products that really land and produce social benefits in addition to the low physical performance of block chains the shortcomings of blockchain economic functions are also important reasons it should be based on continuous research and experimentation rationally objectively assess what the blockchain can and cannot do in September of last year the central bank banned icos and local crypto exchanges defining the former as illegal fundraising activities before the band took place a total of 2.6 billion won about three hundred and eighty million dollars or invested in CEOs which used to be around 20% of the global fund raising raised by blockchain startups because of low energy and hardware costs over two-thirds of global mining activity was taking place in China in early 2018 since then things have changed quite a bit with the Chinese government enforcing a massive crackdown on the domestic crypto ecosystem tech giant's Tencent and ant financial prohibited all crypto transactions to occur on their payment platforms WeChat pay and Alibaba commercial venues were banned from hosting crypto events and popular messaging service WeChat blocked several profiles associated with crypto activities however despite the regulations becoming more stringent Chinese crypto enthusiasts seem to have found ways to circumvent that I think that the exchange ban obviously had a huge impact on the market and the price and it really signaled change in fortune for for China specifically interestingly you know while the price was definitely impacted we still saw that you know the the overall market increased through the end of you know really January 2018 at the same time we also saw the flight a lot of these quote-unquote Chinese exchanges to different very to different jurisdictions you know places like Hong Kong and Singapore and now Malta what China is trying to do is take control over this whole technology and and kind of burgeoning economy and my assumption is that they're going to relaunch it in a way which is under their oversight and where they have controls the current kind of system they don't really have complete visibility over they definitely don't have control over it and that's what they're striving for right now when we talk about the kind of participation in these token sales from Chinese participants obviously they've been very clear that they don't want retail investors they don't want Chinese citizens you know in many different variations to participate but I think one way that has been effective and I think which does fit into their context is for professional funds and professional companies which either have Chinese citizens or Chinese kind of presence to have offshore investment vehicles which then do participate now it's my understanding that this is not in any violation of the the Chinese kind of authorities because again it does seem like that they're more focused on retail and individual stirrers who are not professional the midterms happened this week and the so-called Blue Wave failed to materialize but the Democrats did take back the house while the Republicans made small gains in the Senate there was however a small crypto Ripple pardon the pun when I came to bullish candidates this election saw to Bitcoin believe in governor's take office in both California and Colorado Democrat Gavin Newsom who won by 59% not only received a 2017 Fiat donation from the extreme to winkle vie but way back in 2014 he accepted campaign donations in bitcoin and bitcoin cash fellow Democrat Jared Paulus also won his race in the great state of Colorado taking over 51% of the vote also became the first openly gay man to be elected to state governor and a huge win for both gay rights and crypto rights everywhere similar to Newsom he also accepts crypto but more importantly he wants blockchain firms to flock to the state his campaign website even there the Kate's an entire page to policy ideas that could use blockchain to solve energy and bureaucracy issues amongst other things in addition he also wants to protect haulers from unfair prosecution by exempting crypto from state money transmission laws currently a citizen in the US could end up facing five years for failing foul of current legislation elsewhere Democrat brian ford republican austin peterson and libertarian Phil Anderson all featured in what was essentially a hit piece by Politico titled is Bitcoin secretly messing with the midterms about the prevalence of crypto campaign donations Ford who himself raised 300k and Bitcoin donations for his failed bid for Congress hit back with an aptly titled rebuttal no Bitcoin is not messing with the midterms in the former an Obama tech advisor criticizes the media for portraying crypto as a threat to the electoral process stating that crypto campaign donations equal less than 1/10 of the total funds raised earlier this year it was revealed that Quinn base had formed its own political action committee otherwise known as a PAC so forget a red wave or a blue wave Washington DC could be about to experience a crypto tsunami hope the Fed has good flood protection did you miss out on the incredible late 2017 bull run and are now experiencing a serious case of FOMO if the answer is yes this next story might make you feel a little bit better in one of the darkest corners of the Internet aka a subreddit a person only known as throw away to eight three nine twenty one posted did I ruin my life by trading crypto sadly the short answer to his question could be a massive yes throw away was a college kid in 2017 and turned a 5k investment into a small crypto fortune of 800 K he huddled with the hope of cashing out at his own psychological price point of 1 million dollars well I went down the rabbit hole and struck gold a few times having 10 times on multiple all coins I brought my 5 K initial all the way up to an eight hundred eighty thousand portfolio in December 2017 now I should have listened I should have cashed out yes once I hit $1,000,000 I was going to I would have been set and then just like that the market tanks going into the new year pretty quickly 800 K turn into 125 K and it seemed like throwaway had indeed thrown it all away then came the sudden realization but he hadn't even thought about taxes he was truly up shit Quinn creek without a paddle short-term capital gains tax means mysteries throw away is liable for about 39% federal income tax plus California state tax totaling a brutal 400 K in cold hard fiat ladies and gentlemen a moment of silence for our fallen Hodler young man or just someone similarly situated I think would be try to pin down the numbers as best you can and make sure that we understand exactly what has been filed and what hasn't been filed well so sometimes one can improve this situation and I think as we as we all know for for crypto transactions in 2018 it's no longer possible to claim a like-kind treatment meaning to claim tax deferral on transactions that are a crypto to crypto however for 2017 and for prior year it was possible at least in in my view to do that as a Bitcoin and at others are treated as property for tax purposes not as as currency and and property treatment the IRS didn't say a whole lot more than that but that has certain ramifications for 2018 at least and going forward the law is now clear it was changed so that even a Bitcoin to aetherium you know to a bit going to ether a transaction is technically taxable so you need to keep track of sort of both sides there are rules for so-called offers and compromise where basically you show what your financial assets are you show what your prospects are how much your wages what your profession is if you have one what are you likely to make and like any creditor of the government looks at those things the biggest thing ever or the most spectacular crash and burn and the history of mankind that is how crypto millionaire Jeffrey Burns described his ambition to build a smart city powered by etherium in the middle of the Nevada desert can create a world makes everything we do work better in this time we're not using toys and wooden blocks we're using the blockchain and we're building a real city Burns's company locked in LLC bought a large pot of barren land earlier this year for 170 million dollars and recently pumped an additional 300 million into Innovation Park the utopian city spanning over 100 square miles will host residential units for thousands of people as well as schools shops and even production studios the crown jewel of course will be the high-tech part combining both blockchain and AI having made his fortune investing in aetherium in 2015 Burns wants his utopian city to be built on the same technology that made him rich in the first place according to his vision future residents of Innovation Park will be able to use aetherium addresses to cast votes on local issues and store data and although construction won't start until 2019 Nevada's public electricity utility company and the energy has already agreed to partner with flockin LLC and developing blocked and energy projects Innovation Park is just the latest in a series of would-be crypto utopia that have sprung up all around the world as of late like Seoul the blockchain paradise founded in Puerto Rico by crypto guru ROC Pierce that has been attracting dozens of crypto enthusiasts because of its tax advantages or liberal and a small crypto nation squeezed in between Croatia and Serbia that by the end of 2017 received nearly half a million requests for citizenship despite being recognized by no other countries or the floating island project the world's first autonomous floating nation-state tentatively planned to be built off the coast of Tahiti like its predecessors Innovation Park is supposed to fulfill the libertarian dream which sees minimal state fiscal sovereignty and free trade as the greatest goods for society however crypto PS has been widely criticized as mayors schemes for which the Nova crypto rich are taking advantage of tax havens while making no secret that it came to Nevada for its tax benefits Byrnes wants to prove his good intentions by seemingly rejecting all prospects of future wealth from the project he's promised to give up all decision-making power as well as 90% of future dividends which will be managed by local residents employees and investors we also learned this week that Captain Kirk aka William Shatner aka the Priceline pitchman seems to know a heck of a lot about aetherium this reveal came when the former space captain promoted Vitaly Batarian on Twitter with a seemingly random thumbs-up tweet leading to backlash from Twitter crypto trolls about assyrians alleged lack of decentralization to combat the comment trolls Shatner then reeled off a list of ERC standards pretty sharp for an 87 year old former Starfleet officer and now ladies and gentlemen and a coin Telegraph exclusive we can reveal satoshis true identity do you ever feel you become the worst version of yourself if you want a war I will do two years of no trade nothing in the war no coin can trade i am satoshi have a nice life you will now discover me when pissed off and know you could have had proof your choice fu quick and as always like subscribe and huddle coin telegraph like subscribe and huddle

21 thoughts on “Elon Musk’s Bitcoin Odyssey | Hodler's Digest”

  1. Apologies for the delay in getting this to you, Hodler's Digest fans, but we worked hard on it and thought better late than never. Normal service from next week.

  2. You can't help but feel sorry for Elon Musk. It's really petty for these malicious individuals to impersonate the Tesla CEO on Twitter and promote a fake cryptocurrency giveaway in which "Musk" will provide special users a generous amount of BTC granted they send in some of their own funds first. It’s an ugly and cowardly way of getting their fingers on funds that don’t belong to them.

  3. So in 2014 he accepted campaign donations in bitcoin CASH <<<< did people pay with a time machine? because bitcoin Trash didn't come until 2017.

  4. Funny. She has a headline of "The 'blue wave" led to a surge in Democratic vote share across much of the country" appear in the background just after she says that the "so-called blue wave failed to materialize" 6:33 LOL.

    7:05 She says that way back in 2014 the candidate accepted campaign donations in BTC and BCH way back in 2014. How could anyone accept BCH in 2014??!!

    Man! More mistakes than a CCN article!

  5. craig wright and the rest of the drama bitcoin community is part of the downfall of Bitcoin. Happily tons of alt coins has come to finish what Bitcoin started.

  6. why you put Elon Musk with the joint on the title image ? What has this to do with your message ? NOTHING.

  7. I am somewhat confused by the political disconnect with Newsom and Polis. These are, by any reasonable measure, big government politicians (look at their platforms if you disagree). BTC was conceived in the spirit of Libertarian principles. So, the disconnect is how big gov't spenders (tax supported spending), and those who believe in centralized, Gov't control of large portions of the economy, are all in on BTC? Do they not see the obvious threat to the essence of their political power? … or, do they want to regulate and control crypto currency before it becomes so decentralized that they can't put that genie back in the bottle?

  8. NPC 🤖 "Bitcoin has no intrinsic value"

    Player 😎 "Bitcoin is a fast and cheap borderless pseudonymous censorship-resistant and inflation-proof financial system, an immutable database and a smart contract platform"

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