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The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people.
The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets.
Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.
Stock Market CrashThe Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially.
All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity.
Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses.
Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely.
So, why inflate the economy so much?
Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value.
Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat.
Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis.
Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.
Economic Analysis of BitcoinThe reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero.
Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology.
Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value.
Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block.
Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer.
Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed.
Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin.
Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public.
A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved.
Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely.
Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.
Trading or Investing?The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY).
In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing.
The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors.
Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature
Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market.
According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains.
We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.
Technical Indicator Analysis of BitcoinTechnical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
Trend Definition Analysis of BitcoinTrend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail.
Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form.
A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.
Time Symmetry Analysis of BitcoinTime is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding.
Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading.
Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure.
Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price.
Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not.
We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in.
What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows.
Therefore, we have two primary dates from our histogram.
1/1/21, 1/15/21, and 1/29/21
2:00am, 8:00am, 12:00pm, or 10:00pm
In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations.
The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year!
Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market.
Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020.
The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX.
Therefore, our timeline looks like:
Hi! I'm a junior iOS developer that was looking into branching into Android. If you don't mind, may I ask you some questions about the associated account ban issue?If you are just starting out with Android, i.e. this is your first account, you don't have to be concerned about the associated account ban issue.
This only becomes relevant if you have a ban - then this ban is percolated to all the other accounts that Google can get it's hands on - ones which it finds "could be you".
But sometimes it makes mistakes and can ban your friend, who may have opened his Google account from your computer, using your Wifi or from your home using your browser. There are examples of a company account being banned because their developer was banned, and the developer was banned not because of any fault of his, but because a friend of him had been banned some time ago for some previous infraction.
These types of bans are possible to get reversed, but usually take a lot of effort, and usually not through usual channels - what seems to work is posting on medium dot com with a convincing blog post that gets viral, and then sometimes Google will reverse. There are cases of account reinstatements after one year, but often it can be a week to a month.
In any case, this is needless disruption for a developer.
Usually app bans/account bans DO NOT lead to a Google account ban - BUT some developers have expressed fears that this could happen. I can't think of a case like that - I have a vague feeling it may have happened once perhaps but can't be sure.
But it DID definitely happen with Markiplier's YouTube fans - when he asked them to post emojis - and Google mass-banned a bunch of those who responded. Markiplier issued videos trying to get his followers' YouTube accounts restored - many were restored, but many weren't (may have been by now). This case was notable because these followers got their ENTIRE Google accounts - including Google Photos and other such personal stuff also account-banned. Thus was particularly egregious.
The alternative to going viral with blog post is to have legal representation - your lawyer sends them a warning letter - supposedly that also works reasonably well. We don't have too many documented public cases for this - but many commenters on androiddev sub-reddit have said that even just having your lawyer send a letter to Google at [email protected] (even though Google says it doesn't read e-mail sent there) - can get results. Again, I don't know of any particular cases that used this method - so cannot give much more insight on this type of appeal to Google.
Developers have been trying to create new accounts after account bans for many years - at least from what one reads on various forums.
- Would it be possible to create a new identity separate from my old one? Suppose I buy a new phone and new phone number. Only use my mobile data and a new bank account to pay for stuff. The one thing I am not able to change is my location as I can't move out anytime soon.
So developers certainly do evade such bans - they seems to suggest using different internet WiFi, different Mac address for computer, different browser (so can't be tracked by cookies) and then using different credit card identity - so for example they may open an account in a relative's name.
But if that relative is your wife - who resides in the same place - you are likely to be associated eventually - and wife could suffer the fate of the husband (and the associated ban wouldn't be removed even after divorce!).
I don't know - we don't have the data to be that specific about whether a previous association between you and another dev (even before you actually created a Google account) would contribute towards yours (or his) associated ban.
- Would not opening a developer account be enough to avoid having my colleagues getting associated banned? I have a housemate that got banned, while I was lucky to not share WiFi with him we still stay in the same location. Not only that I have logged into my personal accounts using the office computer and WiFi. I also roughly believe an ex-colleague there might get banned for his personal app on the Play Store in the future. Is it too late to do anything to migitate any association at this point?
If you are very enthusiastic about your Android project - you can proceed without bothering about associated account ban - since it is unlikely to affect 100 percent of developers everytime, you could take the risk. If something does happen, you deal with it.
But if it is low priority for you, and you would rather not endanger yourself, or your friends, you could consider not opening a Google developer account - and simply publishing on F-Droid, or even offering your APK via your website.
It gets trickier if you were planning to show ads or have in-app purchases - for ads there are ad providers other than Google Admob - but often they ask where your app is published on Google Play. But possibly it may not be a requirement - for example they may accept that you are only published on F-Droid - though I don't know how this reduces "developer cred" in the eyes of the advertiser (and if they pay less for advertising on such apps).
For in-app purchases, you could use payment processors like 2Checkout - which would allow you to process payments independent of any association with Google.
2Checkout has wider country coverage, but you could try Square and the other credit card processing companies which focus more for U.S. developers.
Some developers have anecdotally reported on androiddev sub-reddit that they are able to get good revenue for apps hosted on their website, and using third-party payment systems like 2Checkout etc. However, this will still be less than what you would get on Google Play Store (because of it's ubiquity/wide reach).
EDIT: xda-developers also seems to have an app store - though you don't hear much about it on androiddev. But it may be a good alternative to F-Droid (if you don't want to open source your app):
In addition to accessing the forums, Labs contains an app distribution platform for both hobbyist and professional developers. With support for Alpha, Beta, and Stable release channels, developers get the utmost in control. We also have built-in commerce for devs that want to earn money for their work, and unlike Play, where developers only get 70% of app revenue, XDA lets developers keep 100% through PayPal or Bitcoin payment methods.
There are other android app stores, but because Google forces manufacturers to include Google Play (as part of the Google suite of apps) - it has so far ensured that Google Play remains the dominant store.
Sorry if the message is too long. I don't see Google fixing this issue anytime soon and am just trying to find a way to publish Android apps despite the bleak situation.
- Despite all this I still want to develop Android apps and share them with people. Is hosting the apk on my personal site the next best thing besides the Play Store? Are there any other app stores I could try? I know there's F-Droid but I don't plan open-sourcing my apps.
Developers have anecdotally reported that they are able to get good sales on Amazon (not sure how it is these days) - overall volume is lower, but the revenue per user is higher, so the overall revenue is not bad, though still lower than for the version of their app on Google Play Store.
As an example, the Chinese market is hard for non-Chinese developers to get into (because of the certification/documentation requirements) - but even if you do that, there are a number of app stores (4 or 5 of the big ones - none of them are particularly dominant over the other). This is obviously an outcome of the fact that Google exited the China market earlier (a decision they may regret, but it has also affected/led to app store fragmentation). Chinese app stores also often have clone apps - so you may find that there already is a version of your app there - sometimes with different ad provider inserted, and sometimes may even seem very different (I have never tried to install the APK from those stores, but have tried to examine the APK contents and found differences).
So there is a negative to not having Google Play Store dominant - and there is a negative to Google Play Store being dominant as well!
The Chinese market has another emerging player - Huawei - they have had an app store (App Gallery - which ships with every Huawei device as well - and which you can download using an APK as well).
However, it has not gained much traction - the only reason I mention it is that it MAY become interesting in the future, since Huawei (for strategic/survival reasons) may have to invest in their app store at much higher levels now - in order to prepare for a future where they are totally excluded from the U.S. market, and cannot ship their devices with Google suite of apps (including Google Play Store).
Given Huawei is a multi-billion dollar company with big ambitions - their whole company future is dependent on this one thing - and so it makes sense that among all the app store contestants, if there is one which will have added impetus behind it, it will be a Huawei App Store (App Gallery). However, their execution thus far has not been exceptional - App Gallery is still anemic in terms of revenue according to some anecdotal reports by developers on androiddev sub-reddit. However that could change in the future, if Huawei's App Gallery implements even more developer friendly processes (for signup, and for in-app purchasing etc.).
Thank you very much for the detailed reply! I guess I would choose not to create a new identity and just publish outside the app store. Google's ability to track someone feels like more than what I could handle. Hopefully some kind of government regulation or third party competition would appear to knock some sense into Google in the near future. All the best to you and thanks again for your help!
Sure, no problem. Feel free to quote/rephrase it any way you like. It would definitely be a great help to others who are worried about the issue.
As with most Google "rules" which suffer from the info asymmetry that makes for a "moral hazard" in Google vs partner dealings (app dev/Adsense/YouTubers):
Cryptocurrency and divorce have quickly rising issues for people going through a divorce. In the past couple of years, divorcees and their lawyers have increasingly faced a new challenge when going through a divorce: the reporting, disclosure, and valuation of cryptocurrency assets. Here’s how to face the challenges of cryptocurrency and divorce. Although Bitcoin is the most well-known type of cryptocurrency, there are now various types of these “coins” ranging from Bitcoin down to “penny-stock” type of exchanges. There has been a great deal of volatility in cryptocurrency value: during 2017, the price of one Bitcoin rose from around $900 to a high of $20,000. There have also been well-known scams, thefts, and the shutting down ... Put that another way, the divorce proceedings could be taking place during one of bitcoin’s violent price corrections and the “hodler” could be penalised by the court for not selling some of the bitcoin before the event and ends up having to hand over a greater proportion of the asset than would otherwise have been the case to make up for the “recklessness” that “dissipated” a ... “The price of bitcoin went from $1800 in August of 2017 to $19,000 in December 2017, which is a move of over 1,000%. Then, from the time period of January 2018 to February 2018, the price of bitcoin went from $19,000 to $11,000.” In order to effectively deal with the change in price through a volatile market, divorce attorneys must be diligent and ask the right questions regarding the ... It’s worth noting that the price of cryptocurrencies essentially fluctuate according to the laws of demand and supply. What’s the Legal Status of Cryptocurrencies in North Carolina? Cryptocurrencies’ (including Bitcoin) relevance in divorce settlements anchors strictly on its legal recognition as a commodity or a legal tender. In July 2016, the North Carolina Money Transmitter Act was ...
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