Trump New TAX Law DESTROYS USA Crypto Exchanges and Industry
Donald Trump will go down as the moron that turned the USA into a 3rd world country over his new tax law that destroyed all future growth of crypto startups and exchanges in the USA.
When Trump killed code 1031, he guaranteed all crypto exchanges in the USA will never become anything and they will most likely all close in 2018 or shortly after it.
The life blood of crypto is the ability to quickly and cheaply TRADE.
Rule 1031 allowed crypto trading in USA without taxes. The only taxes due are when a crypto currency is removed from an exchange into FIAT ( old world currency) and withdrawn into banks. So exit deposits to banks are tracked and traders and investors are supposed to pay taxes on gains, which most Bitcoin traders have ignored the past 9 years.
With no taxes on trading from one crypto coin into another, the Market Cap of the New Crypto Currency INDUSTRY has within less than 10 short years become almost 1 TRILLION DOLLARS. That’s TRILLION with a T.
Much of the huge growth in world crypto market cap happened the past 1 to 2 months. The world crypto market cap is now equal to 1% of the world’s GDP.
Most early crypto investors were in crypto due to they realized the old world Fiat currencies are worthless. Governments took currencies off the gold standard decades ago and it’s why a hot dog went from 5 cents in my mother’s youth to 50 cents in my youth and $5.00 in my kids youth.
While crypto currency is quickly being adopted around the world as a GLOBAL CURRENCY with a few types of crypto Currencies becoming the new world standards in determining how to value new untested crypto platforms such as Bitcoin, Etherum, Bitcoin Cash, Lite Coin and Ripple being equal to the old world rare metal value system of platinum, gold, silver and copper as to levels of value between them.
The most expensive crypto coin or Platinum value is Bitcoin with Bitcoin Cash and Etherum fighting for the gold value spot with the loser becoming silver and lite coin and ripple are fighting for the common copper value and the loser will become zinc.
The fact is most crypto ‘coins’ mining or creation and trading has occurred outside the USA. For years you had only Bitcoin as a crypto currency then a few so-called alt coins were created and adopted by enough crypto miners and investors and traders to get listed on early exchanges.
The biggest exchanges are all outside the USA, since the USA has given crypto investors ice cold responses as to how the US government and courts view these major new GLOBAL INVESTMENT ASSETS now being called crypto.
Oh, my expert knowledge on crypto as an early adopter of Bitcoin by accepting it across my huge 1 MEDIA Network of 300+ Business and local search portals, as well as my creation of BizBYTES a private closed bartering digital currency I created for bartering trades for my clients in my large Global Business Network as well as my Prime Number Algorithm Theory used by the NSA and the books I’ve written on Bitcoin and Crypto as well as modern business practices such as SEO and PPC as well as my Domain Name book on my early entry into the real Platinum asset of modern businesses that being keyword domain name investing and portal development has led me to launch the ultimate hub of crypto news and information at KRYPTOUS .com.
KRYPTOUS is the ancient Greek word that Crypto is based on, so now my thoughts on Crypto are featured at both KRYPTOUS and my newest site PROPHET.business.
My book Bitcoin Algorithm predicted the spectacular value rise in Bitcoin as the user base grows.
My warning last week that Bitcoin would correct soon from near $20k USD to $10K saw Bitcoin within 48 hours plummet to $11k. My warning said $10k and Bitcoin will soon see that low level as I said within 2 weeks to 2 months of December 20th 2017 when I released my crypto warning.
My warning also stated Bitcoin Cash would become soon equal in value to Bitcoin and then both crypto coins take off to the next value trade range of $50k USD.
Some with less than 1% of my knowledge in crypto and business think I’m wrong, well BCH (Bitcoin Cash) used to trade at 5% of the value of BTC (Bitcoin) it is now trading between 22% and 20% of the value challenging the much older Etherum for the #2 crypto value market cap.
Now that Trump has destroyed any chance the USA had of becoming the hub of crypto exchanges and startups by killing rule 1031 trading, the world will not be led by the USA in the age of crypto Currencies.
Before Trump killed crypto for the USA a few US based exchanges decided to try to do crypto trading and now each one was destroyed by Trump’s new tax law.
US based exchanges have been slow to trade in the newer crypto that is bringing even the poorest countries in the world into the global network of crypto currencies where a handful of crypto coins have quickly established themselves as the top metals in the new crypto currency system equal to the old world’s commodity system of valuing certain metals over others.
While most of the world was shut out to eCommerce since most of the world is too poor to qualify for a western banks credit card which was needed to conduct business or trade online before crypto currency became a reality. And, with companies such as PayPal black listing most of the world as too risky to do transactions in due to double digits charge back ratios, crypto now has spread into areas of the world where PayPal and Bank of America won’t go. SmartPhones combined with a central village internet cafe is how the whole world is now becoming financially connected through crypto currencies and now huge banks outside the USA are getting involved and even American Express is connected to new crypto projects.
So international banks are all creating huge crypto divisions, Etherum has actually moved into global banking and business with Etherum architecture becoming embedded in huge companies networks.
Ripple is fast becoming a real global crypto currency and with 80 BILLION coins compared to only 20 MILLION for BTC and BCH and 80 Million for ETH and LTC, the cheap XRP (Ripple) is now a major alternative currency in some major Asian countries like South Korea.
The rare crypto Bitcoin while still being the king of crypto is now too slow and costly to trade in for cheap trades. We are removing it from our network due to how slow and costly it is.
My network now prefers the top crypto coins over Bitcoin.
I personally love Ripple since 8 Billion humans can own some coins now valued a little over $1.00 USD.
Ripple started a little over 5 years ago at 1 cent, so it was designed to remain cheap and it’s fast to do trades in. It will never compete with BTC or ETH as to coin value since it has 80 BILLION COINS, but the market cap of Ripple could easily become more than any other crypto.
At $4.00 XRP would be the largest market cap of any crypto. That could happen soon, especially now that Trump has killed every USA based crypto exchange.
If you got crypto in USA crypto exchanges get out now before your exchange goes out of business.
Move your crypto to the bigger crypto exchanges that are all outside the USA.
If you convert crypto at a USA based crypto exchange after 4 days, the trade into another crypto is now taxable.
As soon as the big wallets at US based exchanges find this out, the USA exchanges will crumble.
You can thank Donald Trump for this new reality where the USA will be on the sidelines as the new global currency takes over and it will be crypto Donald.
My consulting services are now sold at PROPHET.business and I charge a huge hourly rate and take it in crypto since I believe in crypto.
You can become a Member of new site PROPHET.business and get my newest articles on crypto and business by email alert one hour before I release them to the public as well. My time is very, very expensive, since I speak and markets move.
So if you have major wealth you can talk to me for 15 minutes to an hour. I will give you my expert opinion on your investment or crypto asset portfolio.
For Crypto and Business consultations I charge $20,000 USD an hour, and 15 minutes is billed at $5,000.
I have many business projects that I’m involved in and the most recent is a Cayman Island Crypto Exchange which will be an elite Crypto Exchange for the largest wallets to safely trade and transact in. So my time is very valuable.
I already operate multiple busy news sites about Crypto investing in my network and I operate dozens of local search portals and hundreds of business portals that use my large domain name portfolio that my Domain Name Trust assembled starting way back in 1995. So I’m a very busy businessman that understands the Net and Crypto to a degree way beyond anyone else.
Unlike the rest of the planet, I understand Crypto, it’s place in our global economy and what Crypto coins will be worth around 5 years from now in value. Not every Crypto coin will be around even one year from now, but the top coins will be worth a fortune in a very short time and their high value will make $15K look cheap.
If you listened to me in 1986 I advised my friends and family to buy Intel and Microsoft.
If you listened to me in 1995 you would own mega millions of dollars in domain name assets.
If you listened to me in 2010 you would have a nice crypto wallet.
If you do what I say for 2018 you can retire in 2020.
The global economy is embracing Crypto Currency and while the USA will now be left behind, the rest of the world will use Crypto Currency from this moment on.
My book Bitcoin Algorithm predicted this spectacular value rise in Bitcoin and other crypto coins, so the future has finally caught up to my words.