Crypto 360°

Friday, 29 May 2020

US Plan to Delist Chinese Stocks Could Trigger Massive Bitcoin Buying Spree

The mounting tensions between the US and China as a result of the ongoing pandemic have contributed to global instability and could ultimately provide a major boost to Bitcoin.

The United States House of Representatives is now spearheading an effort to delist Chinese stocks from the US markets, claiming that they have long been able to benefit from US listings without the companies having to abide by the same rules as domestic companies.

If the government is successful in their move to delist these companies, it could provide a major boost to Bitcoin as more Chinese citizens turn to crypto to escape the mounting economic turbulence.

Ironically, this effort is being driven by Representative Brad Sherman – an outspoken critic of Bitcoin and other digital assets.

Tensions Between US and China Mount as Government Moves to Delist Chinese Stocks

The ongoing global pandemic has largely been blamed on China by officials within the US government, who now appear to be taking actions to increase the country’s accountability.

In a recent interview with MarketWatch, Representative Sherman noted that “it’s time for China to blink first” while speaking about his newly introduced “Holding Foreign Companies Accountable Act.”

Rep. Sherman, who has long been an adversary of Bitcoin and crypto in general, explained that this newly introduced act isn’t being floated with the goal of desilting Chinese companies from the US markets, but rather to force them to adhere to the US capital-market standards.

“THE PURPOSE HERE IS NOT TO DELIST OR DE-REGISTER; IT’S TO DEMAND THAT CHINA DO WHAT EVERY OTHER COUNTRY HAS DONE AND AGREE THAT IF THEIR COMPANIES WANT TO PARTICIPATE IN U.S. CAPITAL MARKETS, THEY AGREE TO LIVE BY U.S. CAPITAL-MARKETS RULES…TIME FOR CHINA TO BLINK FIRST FOR THE BENEFIT OF INVESTORS,” HE STATED.

If this act is passed, it could create even greater tension between the two countries, potentially having grave impacts on the recently passed trade deal.

Rep. Sherman believes that the bill will be successfully passed before the end of summer.

Here’s How This Could Give Bitcoin a Boost

Because the delisting of Chinese companies from the US markets could have dire impacts on the country’s economy, citizens residing there may continue turning to alternative investments like Bitcoin to hedge their portfolios.

This growth has been fueled by investors in China and other countries moving to add USD exposure to their portfolios.

The imminent inflation that the US dollar will soon see, however, may also lead some of these investors to convert their USDT into Bitcoin in order to avoid the impacts of the United States’ immense money printing, thus giving BTC a major boost.

submitted by /u/kealenz
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Thursday, 28 May 2020

Libra Growing Stronk

submitted by /u/MyCoinStory
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source https://www.reddit.com/r/btc/comments/gs11j4/libra_growing_stronk/

Bitcoin Cash Censorship

submitted by /u/1MightBeAPenguin
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source https://www.reddit.com/r/btc/comments/gs0rpf/bitcoin_cash_censorship/

I didn't realize what people meant when they said "When the time comes, you won't have to sell your Bitcoin", Until Now:

The one thing people don't realize Bitcoin is for. You can take out loans on it. So in 10 years when you want a house, or duplex, or triplex, or apartment, or business; you can take out low interest rate loans for them with your Bitcoin, and buy that house, or rental property, or business you want. Something you could never do before any other way. This is what Bitcoin does for you. It grants you the net-worth and financial access so you can have the ability to get loans you could never get approval for before. Something as small as 20$ a month for 1 year or more, 10 years from now, can get you a loan for that house, or business you want but could never afford, or get an approved loan for.

This is also better than selling your bitcoin for a property too. Because chances are, the Bitcoin will be a better investment value wise in the long run, so collateralizing it let's you keep your coin, and get your property, or business. Preferably a rental property, or solid proven business so it pays itself off.

>Edit: A little example of how I realized this lesson the hard way. I lost a bit over 100 million dollars worth of Bitcoins in today's value by selling off almost 1.5 times the value of my first rental property that I'll most likely never recoup. The rental property was 3.87 million at the time, and I had to sell over 5 million dollars worth in Bitcoins at an average of 500$ a coin price in 2015 to acquire it. That was a little over 11 thousand Bitcoins I had to sell for the property. I had to sell off that much because I had to pay off the capital gains tax for selling the Bitcoins in the first place, and still have enough left over to pay for the rental property after capital gains taxes were paid. Since then, I learned my lesson seeing what my coins would've been worth today, and am never making that same mistake again. On my second rental property, I used some of my remaining Bitcoins as collateral to take out a low interest rate loan for it, and sold a smaller amount of Bitcoins so I could make a down-payment on the property. I've already recouped the small amount I sold off in Bitcoins for my down-payment on the second property too with the rental income from both properties.

>The rental income on the second property is 4 times the cost of the mortgage payment every month, so I keep 75% of the rent as profit, and the other 25% that pays off the mortgage. That 25% that pays off the mortgage is a write off too, a perpetual write off at that. It's a write off I get to use on every years taxes that I have to pay on the first property's, and second property's rental income since they're owned under the same entity. And best of all, I still own all my Bitcoins used for the second property, and more now. Unlike the huge loss in Bitcoins I have for the first property's flat out purchase that I'll probably regret for the rest of my life. Learn from me.

Edit 2: A great resource explaining this thanks too u/statoshi's comment: "Check out Chamath Palihapitiya's spin on this from 2014": https://www.youtube.com/watch?feature=player_detailpage&v=NV5ubkGQUes#t=81

submitted by /u/DmMeYourBitcoin
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