Vital Questions to Ask Before Buying Bitcoin

One thing to know before purchasing Bitcoin is that values can fluctuate drastically. Hype, speculation, and celebrity whims are some of the things that drive this fluctuation. While some people have made significant returns from their Bitcoin investments, others have lost big time. However, this shouldn't hinder you from venturing into crypto investment.

Don't Borrow Money to Buy Bitcoin Says Banker

JPMorgan's CEO Jamie Dimon blasted crypto and bitcoin yet again. The JPMorgan executive argued about the real value of cryptocurrencies and his take on the cryptocurrency world in an interview. Dimon stated that the latest bull market in cryptocurrencies was created by a lot of liquidity in the system, which then leads to speculation. Dimon declared:

Bitcoin Mining Generates Waste comparable to e-waste produced by The Netherlands

Bitcoin mining produces electronic waste (e-waste) annually comparable to the small IT equipment waste of a place like the Netherlands, research shows.

Miners of the cryptocurrency each year produce 30,700 tonnes of e-waste, Alex de Vries and Christian Stoll estimate.

That averages 9.5oz (272g) per transaction, they say. By comparison, an iPhone 13 weighs 6oz.

Statue honoring Bitcoin founder unveiled in Budapest

Hungarian bitcoin enthusiasts unveiled a statue in Budapest which they say is the first in the world to honor Satoshi Nakamoto, the enigmatic inventor of the virtual currency. 

The bronze bust is of a hooded figure, in an allusion to the fact that the true identity of Nakamoto, a pseudonym, is unknown.     

Proposal on cryptocurrency tax amended

Ljubljana – Only a day after putting out a proposal on taxation of trading in cryptocurrencies, the Financial Administration (FURS) said it will amend the proposal amid a strong response from stakeholders to give taxpayers the option to chose between paying tax either on the profits they make or as a percentage of the cryptocurrency they cash in.

FURS proposes special tax on cryptocurrencies

Ljubljana – The Financial Administration (FURS) has proposed changing how income from cryptocurrencies is being taxed so that a 10% tax rate would be imposed when the cryptocurrency is spent or turned into cash.

The administration proposes the tax, at a rate of 10%, be paid on the amount of cryptocurrency turned into another currency or spent for goods or services.