Great new newsletter with extremely informative crypto-related posts – like yesterday’s on how to set up a local tax shelter for your crypto using a ‘self-directed IRA’:
“Tax sheltered crypto:
- No need to track capital gains/losses on the transactions in this account
- Any ETH staking income earned is never taxable
- Any interest earned on the lending of the ETH is tax free
The Self-Directed retirement account is a killer tool in the bankless toolkit—unparalleled flexibility to do what you want with your crypto in tax-advantaged format.”
“Software giant Oracle has admitted Hydrogen, a developer of ethereum-based enterprise blockchains, into its Cloud Marketplace.
The listing means New York-based Hydrogen’s APIs are now available to nearly half a million Oracle customers to develop applications for banking, investing, savings, insurance and wellness.
Hydrogen Molecule is like Stripe for DeFi. It is a developer-centric set of APIs and libraries that will be the standard in decentralized finance. DeFi can now be added to any application globally.”
“Over the weekend, the Ethereum Name Service launched an auction for short .eth domain names on the OpenSea decentralized marketplace. All three to six-character-long domain names that were not among the 194 approved during the reservation period that closed in mid-August are now up for grabs, and can be bid upon using ETH cryptocurrency.
The idea, if it catches on, is to help facilitate greater consumer adoption by enabling the use of easily recognizable names—such as “satoshi.eth” (currently going for 1,500 ETH at auction)—to receive tokens and perform transactions on the Ethereum blockchain.”
“The SOV will have a fixed, tamper-proof money supply and that its growth will be predetermined at 4% per year.
We chose to create a fixed money supply with fixed growth because fiat currencies can be remarkably unstable. […] The policies of major central banks are not reassuring, as the gold and bitcoin prices attest. We as governments need to take a more sustainable approach to money, and not treat it as a limitless resource.”
“According to a Sept. 4 report by state-owned media outlet China Daily, “closed-loop testing” has begun for the central bank digital currency (CBDC) to simulate payment scenarios involving ‘some commercial and non-government institutions.’
Citing industry sources familiar with the matter, that the system may be launched in Shenzhen first to test the waters. There, local companies including Tencent and state-owned financial institutions are researching technical frameworks to support the development of the CBDC.”
“Bitcoin (BTC) has seen yet another sharp increase in its computing power after its network hash rate grew 25% in a week. The figure passed 80 quintillion h/s for the first time in early August, and has set new highs on an almost daily basis in recent months.
A rising hash rate means that forward-looking miners are investing vast amounts of resources to expand their operations, i.e. betting on Bitcoin’s value to increase in the future.”
“The Hong Kong-licensed firm announced on Wednesday that the scheme will be on offer to both employees of participating firms and the self-employed, and will offer an underlying portfolio that includes cryptos as well as fiat currencies. It’s also expected to appeal to crypto investors.
The plan will be funded by either voluntary contributions or deducted directly from an employees salary. The pension will be paid out after retirement of the scheme member.”