Crypto Tax Tips To Start 2018 Right

Even though cryptocurrencies are getting more and more exposure, their legislation seems to be a grey area for most governments, especially when it comes to declaring your income in digital currencies. The Internal Revenue Service, the US tax collection agency, has issued Notice 2014-21 stating that Bitcoin and altcoins are subjects to federal income and payroll taxes. So what to do with your crypto money and how to declare your taxes right?

Records

Let’s start with the dreary subject of records. Yes, that applies to crypto investors too. You’d better have some if you are thinking about taxes. If you’ve ever tried to tell the IRS “I lost my receipt,” you don’t want to do it a second time.

The IRS has heard every excuse in the book. While it is not without sympathy, you’ll find it far easier not having to go to the additional effort of proving something by another means. Periodically, the IRS issues reminders to taxpayers regarding the importance of safeguarding your tax records.

That’s especially true in cases of natural disasters that make traditional record-keeping go haywire. But think of it year-round wherever you are. The IRS suggests creating a backup set of records stored away from the originals. It is good advice for crypto investors.

Selling some assets?

If you are sitting on some big gains, you might consider how your tax picture will look for the entire year. It isn’t too soon to start thinking this way. In fact, try to do it long before year-end so you can make adjustments. You might want to sell or hedge some, even if you think the market is still headed up.

There is a lot more than taxes involved in such decisions. But it can be wise to at least think about it. For example, what if your tax year already has a big capital loss in it, or you have a big carryover loss from prior years? In general, unused capital losses can be used to absorb up to $3,000 per year in ordinary income.

But unless you have capital gains to offset your capital losses that $3,000 would be the extent of your tax benefit. Some people sit for years and years with unused capital losses that carryover each year. So, if you also have unrealized capital gains, you might consider selling some gain assets, to be able to absorb your losses. Run some numbers and see how it looks.

And what exactly are you selling?

Another topic as tax time nears is to ask whether you really know what you are selling. That is, if you have 100 Bitcoins and you sell 10, which 10 did you sell? There is no perfect answer to this question. Most of the tax law considers shares of stock, not cryptocurrency.

However, many advisers think that the same kinds of rules should be applied in the case of multiple crypto assets that you hold. If so, specific identification of what you are selling, when you bought it, and for what purchase price, is likely to be the cleanest. But that may not be possible.

Some people use an averaging convention, where you essentially average your cost across a number of purchases. Consistency and record-keeping are important. You don’t want the IRS to claim that you denied the government its fair share of each sale. And remember, if you are claiming long-term capital gain treatment, being able to prove that you held the cryptocurrency for more than a year before selling is key.

Loans with interest and hedges

Loaning money shouldn’t be a taxable event to either the borrower or the lender, except for interest payments. So, can you loan out your cryptocurrency to people? You can, but the question is whether that loan will be treated the same as a loan of money by the IRS.

The jury is still out on that question. The IRS says cryptocurrency is property for tax purposes. You don’t want the loan and the repayment (of different cryptocurrency?) to be treated as taxable dispositions. Some of it may depend on your documents, and how much you make it look and feel like a real loan.

Hedges of cryptocurrency are another hot topic to consider. Hedges can help to avoid some of the volatility that has characterized the various crypto markets. But be careful that you are doing your best to avoid a disposition, meaning a sale for tax purposes, that you don’t want.

Gifts

The holidays may be over, but probably everyone in your family would still like some Bitcoin or other crypto issues. The prices have been so ever-present in the news, that gifts and donations are still very much in the news. But is it smart tax-wise?

A charitable contribution would be the best type of transfer. If you give to a qualified charity, you should get an income tax deduction for the full fair market value of the crypto. If you bought for $500, and donate to a 501(c)(3) charity when it is worth $15,000, you should get a $15,000 charitable contribution deduction. What’s more, you won’t have to pay the capital gain tax on the $14,500 spread.

Giving to private parties is not as impressive. The same gift to your niece gets you no tax deduction. And it requires you to file a gift tax return since the gift is worth more than $15,000. For 2018, $15,000 is the amount of so-called “annual exclusion” gifts you can give to any number of people each year with no reporting required.

Any gifts over that $15,000 amount require a gift tax return, even though you probably won’t pay any gift tax. You normally would use up a small portion of your lifetime exclusion from gift and estate tax. For 2018, that number just went up dramatically. The amount you can transfer tax-free during your life or on death just went up to $11.2 mln per person. That is $22.4 mln per married couple.

Forms 1099

Finally, don’t forget about the coming onslaught of IRS Forms 1099. Normally, these not-so-fun little tax forms arrive around the end of January, reporting income paid to you in the previous calendar tax year. The IRS says that wages paid to employees using virtual currency are taxable, must be reported on a Form W-2, and are subject to federal income tax withholding and payroll taxes.

Similarly, payments using virtual currency made to independent contractors are taxable to them, and payers who are engaged in business must issue Form 1099. A payment made using virtual currency is subject to Form 1099 reporting just like any other payment made in property. That means if a person in business pays virtual currency worth $600 or more to an independent contractor for services, Form 1099 is required.

If you are a recipient of Form 1099, as most everyone is, keep track of them. Each one gets reported to the IRS and applicable state tax authorities. If you don’t report or otherwise address the reported income on your tax return, you can expect that the IRS will follow up.

This may seem confusing, but you shouldn’t worry. The IRS is usually much more lenient to those who fill in taxes, even with mistakes, rather than to those who avoid doing it at all.

Six Figures in Taxes is Nothing… When  Earning a Seven Figure Income.

You could become very wealthy in 2018… we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $16,200USD… that’s more than 7x in just over 120 days!

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Bloomberg: Goldman Sachs to Setup Cryptocurrency Trading Desk

Rumors have been swirling for awhile, but according to Bloomberg, Goldman Sachs will be setting up a cryptocurrency trading desk by the end of June 2018. Bloomberg cites unnamed sources from inside the firm. At present, the investment bank is trying to determine how it will maintain custody of the digital assets.

According to the report:

“The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies.”

Conservative but open-minded

Goldman Sachs CEO Lloyd Blankfein has previously maintained a cautious but open-minded approach to digital currencies. Blankfein recently said:

“[Bitcoin] is not for me. But there is a lot of things that there weren’t for me in the past that have worked out very well. If it was 20 years forward and it worked out, I could tell you why it worked out. But based on everything that I know, I am not guessing that it will work out.”

The firm made headlines earlier this month by saying they will clear Bitcoin futures contracts for their clients, which is an important step for such a usually conservative firm. However, Goldman did insist that at least some of its clients maintain an account with enough funds to cover the full value of the Bitcoin futures they traded. Some customers left the firm as a result.

Goldman Sach’s imprimatur

The investment bank is seen as one of the most elite on Wall Street. The firms executives often retire to take powerful positions within the US government. Current treasury secretary Steve Mnuchin and former secretary Hank Paulson both had high positions at Goldman. With the staid investment bank giving their imprimatur to Bitcoin and other digital currencies, it’s almost certain that other Wall Street institutions will follow. As did the opening of futures trading on CME and CBOE, this move further legitimizes the cryptocurrency asset class.

The big boys play to win… Are you playing to win?

You could become very wealthy in 2018… we will show you how, but you have to make a decision.

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In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

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Bitcoin Is ‘A Millennial Story’

Tom Lee, the co-founder and strategist of the Fundstrat market research company, claimed that the value of the leading cryptocurrency Bitcoin will continue to rise. The cryptocurrency will achieve substantial gains because the millennial generation is interested in it, according to Lee.

He added that the way millennials will power Bitcoin today is similar to how the baby boomers bolstered the stock market in the 1980s.

In an interview with CNBC’s “Squawk Box” on Dec. 12, 2017, Lee claimed that the millennials are very interested in digital businesses, social media and Bitcoin. He further stated that the population group still has over 20 years to go before its numbers peak.

“I think what viewers have to appreciate is, this is a millennial story. The average millennial is 25 today. The boomers were 25 in 1982, so what did the boomers drive from 1982 to the peak population of the boomers, which was ’99? The S&P 500…Millennials have great interest in digital businesses, social media and Bitcoin and the millennial population is not going to peak until 2040.”

Previous predictions from Lee

During an interview in October 2017, Lee has predicted that Bitcoin price will continue to rise to reach $25,000 by 2022.

During 2017, Bitcoin has posted eye-popping 1,700 percent of growth to hit more than $17,000 per token in December, and if this dynamic continues into 2018, Lee’s prediction might end up not too far off.

The launch of Bitcoin futures by the CME Group and the Chicago Board Options Exchange (CBOE) is expected to drive Bitcoin price further and pave the way for the introduction of a Bitcoin exchange-traded fund (ETF), which might further impact the price.

An Amazing Opportunity! That’s Growing at Light Speed!

You could become very wealthy in 2018… we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $17,396USD… that’s more than 7x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for?

It’s less than $265 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours! Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

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Bitcoin is No Longer Just a Man’s Game

The stereotype of the early Bitcoin adopter is one of a techie camped out in his mom’s basement mining Bitcoin by the hundreds, and now living the high life off the profits. In those early days there was little room or scope for women in the burgeoning technology ecosystem.

However, as the digital economy has expanded to be worth just under $400 bln doors have been opening up and it’s women who’re stepping into the breach, making successes of themselves in a market that has no preconceived gender roles or prejudices.

Four out of 30 of the largest initial coin offerings this year through October had female co-founders, and two of their ICOs were among the largest so far.

Taking the market

With the cryptocurrency market expanding rapidly and new niches and subsidiary markets opening up, there is an abundance of new jobs and it seems that women are flooding in to take up these positions.

It’s not only successful ICOs that are being headed up by women. Key speakers at a number of conferences are women and Coinbase said 46 percent of its new hires this year are women, or indeed, are ethnically diverse.

An inclusive culture

It is a positive and interesting social experiment as this new market has sprouted in less than seven years and in that time there has been this new influx of talent from a previously marginalized sector of the population.

It hints that other sectors in which women struggle to break into – such as banking and finance, the main rival to сryptocurrencies – may contain institutional prejudice.

The сryptocurrency market is also showing its disruptive nature when it comes to hiring, as this inclusive culture spreads above and beyond gender, racial and cultural differences.

Moving across

There has been evidence of determined women who scrapped their way to the top of ‘old boys’  sectors, jumping ship to lead a new dawn for cryptocurrencies.

For example, Blythe Masters, the former JPMorgan Chase & Co. banker, quit her job to run Digital Asset Holdings. Another is Elizabeth Stark, who taught at Yale and Stanford universities before co-founding Lightning Labs, which is testing a technology to speed up cryptocurrency transactions.

A growing handful

Maxine Ryan, who launched Bitspark after dropping out of university and has made a success in that ICO, says there is a notable feminine influence:

“It’s still a handful, even though it’s growing,” said Ryan, about the presence of women in the Blockchain world.

Digital CUrrency Group’s director of development Meltem Demirors says women don’t always get the credit they deserve: She recalls being referred to as a “random marketing chick” earlier in her career and just last month had a man try to explain to her how crypto technology works at an event in Hong Kong where she delivered the opening remarks. She said:

“I truly believe a lot of the women are the ones who are actually doing a lot of the hard operational, strategic work.”

Kathleen Breitman, the San Francisco-based co-founder behind Tezos, says things are really on the up for women.

“I think things are much better than they were before,” said Breitman, who a year ago met with a New York hedge fund in lieu of her male co-founder and husband, only to have them remark that they were “really surprised” she was smart. Breitman concluded:

“The improvement now is due to more sophisticated actors entering the space across development and investment. There are also a lot of women who have entered the space across development and operations. Both trends have elevated the professionalism.”

That’s What She Said

You could become very wealthy in 2018 and we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $17,469USD… that’s more than 7x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for?

It’s less than $265 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours! Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Is it Ever Too Late to Buy Bitcoin

One of the reasons that Bitcoin is capturing the hearts and minds of individuals is the stories of instant millionaires who have made their fortune from being an early adopter. People who were mining the coin or accumulating it by the hundred, and were smart enough to hold onto it today are experiencing unprecedented profit.

With the monumental price gain, however, people are starting to wonder where the ceiling is, and if it is not fast approaching. To this end, there is a section of the population who are wondering: ‘is it too late to get into Bitcoin?’

However, this is not a new question, it is a question that was asked when Bitcoin was at $10, $100, $1,000 all the way up to over $17,000 where it sits today.

There is, of course, no doubting that those who were really early to the party are the biggest profiteers, and for envy’s sake, it is worth looking at what has been achieved in just seven years.

What would $100 of Bitcoin be worth today?

Had you put $100 into Bitcoin starting back in 2010, and going through the years, you would have made massive profits along the way.

July 28, 2010: $100 back in 2010 – baring in mind this is a full two years after Satoshi Nakamoto put out his whitepaper on Bitcoin – would net you at today’s value a whopping $28,341,266. One Bitcoin back then was worth just $0.06

Dec. 12, 2011: Within 18 months, there would have been plenty time to get involved in Bitcoin, but by this time the price was up over 3,000 percent, and people were already asking, ‘is it too late?’. Bitcoin was worth $3.19 and $100 back then would net you over half a million dollars ($533,065)

Dec. 10, 2012: A year later, and Bitcoin was still climbing high, now breaking into the teens sitting at $13.54, a gain of 300 percent. $100 would have turned to $125. Still remarkably impressive in terms of gains, but slowing somewhat from 18 months earlier – Does that mean its rise is coming to an end perhaps?

Dec. 16, 2013: Hindsight is, of course, a fantastic thing as the next year the price of Bitcoin was up to $638 and thus doubling as an investment. So, $100 worth back then would be pocket change right? Well, it would be worth $2,665 today.

Dec. 8, 2014: Bitcoin was starting to be heard in whispers around the dinner table about now, but people also heard that there were black markets, hacks, and other nefarious uses, yet $100 worth back then would be worth $4,859 today.

Dec. 12, 2016: Through the harder years from 2014 and the slowed growth, Bitcoin would not have been that attractive, but really, it would have been a perfect time to buy. The explosion was just about to happen. Bitcoin was trading for $780. Had you put $100 into it, that investment would have increased by more than 2,000 percent to $2,180.

June 12, 2017: Six months ago, no one thought Bitcoin could go much higher than the $2,500 it stood at. But of course, it was about to take off again.

Dec. 5, 2017: This week alone has seen some crazy movement. Had you bought $100 worth of Bitcoin just a few days ago, you could sell it today for $145.

Dec. 10, 2017: – If you had bought at the low on Sunday’s slump (when prices fell to $13,160), that $100 would be worth $129.

What the future holds

No one knows what will come next, but it could be safe to say that pretty much anyone who bought Bitcoin more than a week ago is profiting already.

They may still be classified as early investors, or they may not, and although they may not experience gains of 3,000 percent, the feeling is Bitcoin has a long way to grow.

Ronnie Moas, a famed stock picker has put forward an argument that Bitcoin is highly undervalued even at today’s prices. Moas said:

“We currently have $200 tln in the world tied up in cash, stocks, bonds and gold alone and all four of those, in my opinion, are overvalued. If 1/2 of one percent of that 200 tln dollars ends up in Bitcoin, you are looking at a one tln dollar valuation that would be above where Apple Computers, the most valuable company in the World, is today.”

It’s Never Too Late… Unless You Wait…

You could become very wealthy in 2018 and we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $17,501USD… that’s more than 7x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for?

It’s less than $265 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours! Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Investors Dumping Gold For Bitcoin?

Investors are dumping gold in favor of Bitcoin, according to analysts in a recent interview on CNBC. One of them, Phillip Streible of RJO Futures stated boldly that “Bitcoin has stolen a large market share of gold.”

To explain how they are tracking this shift, Larry McDonald of The Bear Traps Report, stated that generally when bond rates go down, gold goes up. However, in recent weeks, the yields on bonds have decreased, and gold has simultaneously dropped by two percent – an event that is

quite rare.

Analysts think the change is the result of increasing investments in Bitcoin, among other cryptocurrencies. According to McDonald:

“Over the last two years, every time rates have come down, and this week rates have moved lower, you had gold go up. Almost every time, there has been an 82 percent correlation between gold and bonds. This week, for the first time, that correlation broke down, and I do think it has something to do with Bitcoin.”

While the price of gold has been traditionally stable, the recent declines show the investment pool has begun moving into cryptocurrencies. In fact, according to McDonald, the total market cap of all cryptocurrencies as a fraction of liquid tradeable gold is already up two or three percent from last year, stating “cryptocurrencies are definitely eating into the gold play.”

Bitcoin… 13X More Valuable Than Gold!

You could become very wealthy in 2018 and we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $17,076USD… that’s more than 7x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for? It’s less than $255 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours! Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Traditional Investors Reveal Their Opinions on Bitcoin

Several traditional investors have issued their opinions about Bitcoin as it continues to soar to record highs. During morning trading on December 8, 2017, the currency traded above $16,000 per token and even reached more than $18,000 in one market.

Due to its phenomenal trading performance, several billionaire investors have voiced out their thoughts about the top-dog digital currency Bitcoin focusing on the idea that it lacks intrinsic value.

Skepticism on its intrinsic value

In his comment, legendary activist investor Carl Icahn says he cannot understand Bitcoin’s performance and he thinks that it is a bubble.

“I don’t understand it… If you read history books about all of these bubbles…this is what this is.”

Meanwhile, billionaire Warren Buffett, who is considered as the best value investor of all-time, has advised investors to stay away from the most popular virtual currency because it is just a ‘mirage’ and it is leading towards bubble territory.

”Stay away from it. It’s a mirage… the idea that it has some huge intrinsic value is a joke.  It’s a way of transmitting money.”

Prominent billionaire and founder of one of the biggest hedge funds in the world, Ray Dalio, is still taking a cautious stance:

“Bitcoin is a bubble… It’s speculative people, thinking they can sell it at a higher price…and so, it’s a bubble.”

Still undervalued at current price

However, former Wall Street and hedge fund manager Michael Novogratz claimed that Bitcoin and other cryptocurrencies are real and Bitcoin could be an alternative or replacement for gold. He added that the price of Bitcoin could go up to $40,000 before the year ends.

“The whole market cap of all of the cryptocurrencies is $300 billion. That’s nothing. This is global. I have a sense this can go a lot further.”

PayPal co-founder and investor in financial technology Peter Thiel, however, considers Bitcoin as having ‘great potentia.l. In his interview with CNBC, he explains that Bitcoin is more than just a cryptocurrency:

“I’m skeptical of most of them (cryptocurrencies), I do think people are a little bit … underestimating bitcoin especially because … it’s like a reserve form of money, it’s like gold, and it’s just a store of value. You don’t need to use it to make payments.”

The growing skepticism towards Bitcoin did not stop Russian oligarchs from investing in it either, as traditional Russian billionaires such as Roman Abramovich, Aleksandr Frolov and Aleksandr Abramov are reportedly investing large chunks of their money into cryptocurrencies, particularly Bitcoin, through a European fund called Blackmoon Crypto.

Finally, the Winklevoss twins, the classic Bitcoin poster boys who started investing in the digital currency in 2013, remain bullish about cryptocurrencies as their holdings made them the first ever Bitcoin billionaires.

Time will tell who among these investors are right. No matter which side you’re on, keeping yourself informed and exercising due diligence will allow you to form your own judgment and investment decisions.

Bitcoin Value… 12 Times More Than Gold!

You could become very wealthy in 2018 and we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $15,864USD… that’s more than 6x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for? It’s less than $235 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours! Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Elite Investment Bank Goldman Sachs to Clear Bitcoin Futures for Clients

According to Bloomberg, Goldman Sachs will be clearing Bitcoin futures contracts for at least some clients when futures markets go live on December 10 (CBOE) and December 18 (CME). This is major news, since the soon-to-be-released futures markets are of little use without banks and brokerage firms actually using the platforms to trade.

Goldman joins brokerage firms TD Ameritrade and Ally Invest in offering clients access to the new Bitcoin futures products. Even serial-naysayer JP Morgan Chase is considering offering Bitcoin futures to clients.

Bloomberg cited an unnamed source “with knowledge of the firm’s plans,” saying that Goldman Sachs will be offering client trades on a case-by-case basis. Tiffany Galvin, spokeswoman for Goldman, wrote:

“Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process.”

Goldman CEO Lloyd Blankfein is reportedly cautious, but open to the idea of Bitcoin, unlike many of his banking counterparts such as Jamie Dimon. Blankfein has written:

“I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat…Maybe in the new world, something gets backed by consensus.”

Extremely important

Goldman Sachs is considered one of the most elite investment banks in the world, attracting the best finance experts and the wealthiest clients. The firm is also known for its “revolving door” – wherein Goldman executives move back and forth from the bank to government service and back again. In fact, the process is so entrenched that the bank is sometimes referred to as “Government Sachs.”

Goldman executives-turned-government-employees include Treasury Secretary Steve Mnuchin and Deputy Treasury Secretary James Donovan. President George W. Bush appointed former Goldman CEO Hank Paulson as his Treasury Secretary. The revolving door of Goldman appointees in government gives bankers from the firm a great deal of influence in the development of policy and regulations.

Learn How to Become Your Own Bank 

You could become very wealthy in 2018 and we will show you how, but you have to make a decision.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $16,981USD… that’s more than 7x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for? It’s less than $255 for a lifetime membership…

…We will show you how to make over $2,000 with no additional money out of pocket in 48 hours!    Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Bitcoin is Today’s Silver, Says Renowned Trader

There have been more than a few comparisons between Bitcoin and gold, along with many lines of thought, but regarding the current rush, renowned trader Mark Fisher sees this like the silver run of 40 years ago.

Silver spiked in demand through the 70s and 80s as it became an asset that the regular man on the street could be involved in. There was no Wall Street elitism and its price was reasonable, it was an exciting time for common investors.

This is what Fisher sees at the moment with Bitcoin. The red tape and the egalitarianism of high-level investing is absent, and it is spurring a new wave of adoption with individuals.

Moved dramatically

“The reason people are so attracted to Bitcoin is because people want something that’s actually moved dramatically, that there’s no Wall Street to it,” said Fisher. “The thing that every cab driver is talking about all day long.”

“Bitcoin was what silver was back in the late ’70s and ’80s — for sure,” Fisher added. “No rhyme or reason.”

Indeed, Bitcoin has made its mark for individuals as it flies in the face of the institutionalized money and investing systems. Its decentralized network is what attracts many, and its functionality away from red tape and arbitrary rules are what keep people in.

With silver, it was a similar situation as those investors in the 70s and 80s were finding an opportunity to invest in something that was far more in their hands than an asset like gold, at the time.

The run is only beginning

Through the waves of adoption, it has ebbed and flowed between individuals, and the ‘Wall Street’ types. The most recent run towards $10,000 and above was attributed to market growth and mass adoption, especially in Asia.

However, the next level of this adoption metric will be when expected Wall Street whales enter the water through the power of soon-to-be-released futures.

Fisher predicts the launch initially is “going to be the Wild West.”

“It’s going to be great volatility,” he said. “And for someone like me, who cares what it is, as long as it moves, right?”

More Valuable than Gold and Silver…

Bitcoin is the gold rush of our lifetime!  Potentially the largest transfer of wealth in history!!!!

In the last 90 days gold and silver prices have declined while bitcoin has risen dramatically.

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $13,910USD… that’s more than 6x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for? It’s less than $210 for a lifetime membership… Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator

Tesla S Owner Uses Their Car to Mine Bitcoin

Just when Bitcoin miners thought mining on the phone and hydro mining were revolutionary, an owner of a Tesla S electric car model is using the free power from the supercharger of his vehicle to mine the leading cryptocurrency Bitcoin. To do this, the owner installed a Bitcoin mining computer in the trunk of the car. The mining rig is then charged by the car’s supercharger while it mines Bitcoin.

This is an interesting way to mine cryptocurrencies, but it could be very lucrative for the owner as his operating cost while mining the digital currencies is virtually zero. His only major investment is the cost of the mining rig itself, as well as the associated equipment and accessories.

Some issues on the innovative Bitcoin mining strategy

The exploration of innovative and creative methods of mining Bitcoin and other virtual currencies is always a very interesting endeavor because of the continuous increase in the price of the digital currencies, particularly Bitcoin.

The use of the superchargers of electric vehicles like the Tesla model could be a good idea, but some issues may arise. Among these concerns is the possibility that the mining rig could produce lots of heat that could damage the car’s internal parts over time. The car’s battery pack could also be easily damaged when used continuously for Bitcoin mining.

Despite its great potential and possibly good profits, Tesla or other electric car owners should decide carefully if they want to use this approach to mine cryptocurrencies due to its potential adverse effects on the performance of their cars.

Those who want to mine digital currencies may also want to explore other approaches in mining like the use of renewable energies like solar panels.

However, because they are still in the early phase of developments, these new technologies require a hefty upfront investment. Miners should be prepared to spend a large amount of money if they decide to mine Bitcoin using these methods.

Supercharge Your Wealth… 

This may be the biggest opportunity of your lifetime?

Those of you who joined the club 3 months ago for just over $100 lifetime membership fee when 1BTC was $2,300USD are much wealthier now! Today 1BTC is $11,634USD… that’s more than 4x in just over 90 days!

For those of you still procrastinating, what the heck are you waiting for? It’s less than $175 for a lifetime membership… Take Action Now!

Take a look for yourself! We will show you haw to become your own bank!

7 Day Trial… No credit card required…

Join Now! It’s the easiest way to get involved in the fastest growing financial opportunity of your lifetime!

After your 7 day free trial, you can decide to become a lifetime club member for only .015 BTC (never have to pay another dollar from your pocket again).

In less than 30 days we made more than 10x more bitcoin than we paid to join the club!

This is your chance to get onboard with an elite group of bitcoin millionaires. <Join Now>

You have absolutely nothing to lose

*All Members start at 0.015 BTC (Level 1)

You’ll want to purchase 0.016 BTC

You can participate on multiple levels once your are activated.

Bitcoin (BTC) Calculator