Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
Now the country’s central bank, People’s Bank of China, has effectively banned digital coins after announcing all transactions of cryptocurrencies are illegal.
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When formed by real members instead of bots—we’ll get to that in a second—these communities are unofficial and unpaid public relations departments continually working in favour of the reputation of the projects they support.
According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
Then 5% goes to buying back and burning tokens to reduce circulation and increase demand for the token. The buyback and burning process is automated. With every transaction, 5% of the 12% fee goes to the Buyback smart contract, which automatically buys tokens from the liquidity pool and burns them. Therefore, Safemoon members would also want to invest in a coin whose supply is diminishing hence a consistent increase in the price of the coin.
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
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Chargeable gains: Gains and losses on Bitcoin or other cryptocurrencies (which are not within trading profits) are chargeable or allowed for capital gains tax if they accrue to an individual, or for corporation tax on chargeable gains if they accrue to a company.
CYNTHIA LUMMIS: My son-in-law has a shirt that says friends don't let friends sell bitcoin. And that is my investment strategy for bitcoin.
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Many investors see Bitcoin’s price swings as part of the game, but “volatility is tough for individual investors to deal with,” Noble says. Like Yang, he warns against selling too fast.
The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
Although it is still on tokenomics, Safemoon does not offer investors better returns than competing companies like Bitrise. This is the reason why in the last few weeks there has been a mass movement of members of the Safemoon community joining Bitrise. This includes the whales of Safemoon. One of the reasons for this movement is the better return on investment of competing Safemoon parts.
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There are so many areas Safemoon is falling short. In the products, there is so much competition Safemoon is getting from the likes of Bitrise crypto coin. For instance, Safemoon wallet is deemed inferior to Bitrise dApp wallet.
Both are leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.