Daily Archives: July 23, 2022

States Turning Eyes To Taxation Of Cryptocurrency And Non-Fungible Tokens (NFTs) – Sales Taxes: VAT, GST – United States – Mondaq

Posted: July 23, 2022 at 1:18 pm

22 July 2022

Cadwalader, Wickersham & Taft LLP

To print this article, all you need is to be registered or login on Mondaq.com.

As the IRS ponders its approach to taxing cryptocurrency andNFTs, states are increasingly imposing taxes on some digital assettransactions, including the use of cryptocurrencies, as discussedbelow:

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

POPULAR ARTICLES ON: Tax from United States

BakerHostetler

On June 21, the U.S. Supreme Court agreed to hear a case to decide whether penalties for non-willful Report of Foreign Bank and Financial Accounts (FBAR) compliance failures apply...

Freeman Law

Things have been heating up this summer. Let's see what's been cooking with the Texas Comptroller's office.

Posted in Cryptocurrency | Comments Off

You Should Buy This Cryptocurrency Only If You’re Willing to Risk It All – The Motley Fool

Posted: at 1:18 pm

First, there wasDogecoin (CRYPTO: DOGE). Then cameShiba Inu (CRYPTO: SHIB). To make it a three-dog night, the wild world of meme coins spawned Floki Inu (FLOKI), which resembles its predecessors by also bearing the face of a shiba inu.

Given this proliferation of canine-themed coins, and their reputation for being joke tokens, you might wonder whether Floki Inu is necessary or even real. But it is indeed real and has a surprisingly loyal following on social media.

Whether it's headed for hero or zero status is unknown, but a small allocation could offer fun and excitement, make you part of a community, and even provide multibagger gains if the crypto gods will it so.

While Dogecoin seems to be Elon Musk's pet project, it's not the only token with a connection to him. Apparently, Floki Inu is the collective brainchild of the Shiba Inu token community and was named after Musk's shiba inu. There doesn't seem to be verifiable evidence that Musk supports Floki Inu like he does Dogecoin, though, so don't count on the Floki Inu price getting a "Musk bump" anytime soon.

This doesn't mean that it lacks supporters. Indeed, there's a groundswell of support on social media as nearly 5,000 StockTwits users have added it to their watch lists whileTwitter user @RealFlokiInu has 341,000 followers on the platform. A champion of the Floki Inu ecosystem (as evidenced by the Twitter user's blue check mark), @RealFlokiInu frequently informs the Floki "Vikings" about the latest Floki-centric developments, such as a petition to get the token listed on Binance.

Given the momentum of this grassroots movement, perhaps it shouldn't be surprising that the official Floki Inu website bills it as the "people's cryptocurrency."Apparently there are over 400,000 Floki holders, and there's even an educational platform called Floki University for the uninitiated.

After discovering Floki Inu's flourishing online community of Vikings, you might be enticed to make a small investment. Its ultra-low price (less than one-thousandth of a penny, or $0.00001) and nearly $82 million market cap might also pique your interest. Low-priced coins can sometimes make supersize moves under the right conditions.

Besides, while a Binance listing might prove elusive for the time being, Floki Inu did just get its first European listing on the LiteBit exchange.

Before dipping your paws into Floki Inu, however, it's wise to consider the risks. Sub-penny cryptocurrencies can lose value just as quickly as they can gain it, and price declines of 80% or more aren't unheard of.

And it is much more than a meme coin. Floki Inu is a metaverse-focused token and ecosystem. At the center of this ecosystem is Valhalla, a non-fungible token (NFT) metaverse game that will be powered by the FLOKI token, according to the platform's white paper.Evidently there's also a soon-to-launch NFT and merchandise store called FlokiPlaces in the works, wherein users can trade NFTs and merchandise with cryptocurrency.

At this point, your eyes might be rolling if you're an NFT skeptic -- or your ears might perk up like a shiba inu's if you're an NFT enthusiast. So if you're on board with the metaverse movement and particularly NFTs, Floki Inu might be right up your alley. Otherwise, this probably isn't the right project and token for you.

Ultimately, the digital coin's appeal lies not so much with an adoption trajectory as it does with a sense of community and what's possible when an apparent meme coin forms the foundation of a potentially thriving digital world. So, if you're OK with the risk of total capital loss (and your vision for Floki Inu leans more toward growth than corporate/mainstream adoption), then maybe you're ready to take a bite of this increasingly pup-ular crypto coin.

David Moadel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Twitter. The Motley Fool has a disclosure policy.

More:
You Should Buy This Cryptocurrency Only If You're Willing to Risk It All - The Motley Fool

Posted in Cryptocurrency | Comments Off

UAE emerging as global cryptocurrency hub, says industry expert – wknd.

Posted: at 1:18 pm

Mena region received over $271 billion worth of crypto between July 2020 and June 2021

Published: Sat 23 Jul 2022, 4:20 PM

Last updated: Sat 23 Jul 2022, 4:41 PM

The UAE is emerging as a global hub for cryptocurrency, said a top official from Kraken one of the world's largest digital asset exchanges.

In April this year, Kraken became the first global cryptocurrency exchange to receive a full licence to operate a regulated virtual asset exchange platform in the Abu Dhabi Global Market (ADGM). Earlier this week, Kraken and RAKBank announced that UAE residents would soon be able to trade virtual assets in dirham using their local bank accounts.

Benjamin Ampen, managing director, Kraken Mena, underlined that the adoption of cryptocurrency in the UAE is growing fast.

"With Kraken, investors in the UAE and broader Mena region, for the first time, will be able to participate and invest in the crypto market more safely, more securely, more efficiently and at reduced cost through a dirham fiat gateway."

The UAE is the third biggest country in the world in terms of crypto adoption with 35 per cent already owning some form of cryptocurrency, according to a Gemini survey.

"Being able to invest in crypto directly, and to fund and withdraw from their Kraken account directly in dirham, regional investors and institutions can benefit from a frictionless trading experience and far greater access to the crypto market."

According to Chainalysis' 'The 2021 Geography of Cryptocurrency Report', the Middle East received $271.7 billion worth of cryptocurrency between July 2020 and June 2021, representing 6.6 per cent of global activity. The UAE, with transactions of $25.5 billion, was third behind Turkey and Lebanon.

Ampen noted that dirham-denominated trading would boost trade volumes in the UAE.

"The Middle East is one of the fastest-growing cryptocurrency markets in the world. UAE clients already use Kraken to transact well over a billion dollars in trading volume, and that's without a direct fiat onramp. Dirham trading pairs will enable Kraken to plug straight into the UAE's liquid capital markets, creating strong potential to see a significant increase in trading volume."

Ampen said that ADGM, a robust financial services centre, is an ideal and indispensable partner.

"Kraken has been thrilled to partner with ADGM who has been instrumental in making our vision to bring dirham crypto trading to the UAE a reality. The regulatory drive in the region has been highly progressive, visionary and forward-looking, typified by ADGM's Virtual Assets Framework, which continues to encourage adoption and innovation in emerging, technology-enabled investment strategies. We have been privileged to receive such great support and endorsement from them."

Xfinity Driver Brandon Brown’s Offseason Dalliance With a Volatile Cryptocurrency Bitcoined Him in the Butt – Sportscasting

Posted: at 1:18 pm

Brandon Brown is on the wrong side of the Xfinity Series playoff cutline heading into this weekends action at Pocono Raceway, and his prospects could be even bleaker after the following weekends race on the Indianapolis road course.

Thats because money woes are putting a dent in his one-car operations ability to compete with heavyweight teams like JR Motorsports and Kaulig Racing.

Brandon Brown needs to rack up some points better yet, a victory in the NASCAR Xfinity Series this weekend at Pocono or else hes probably going to find himself in must-win territory for the remainder of the regular season.

Twelve drivers make the playoffs, and Brown is 13th in the standings and 61 points below the cutline. His family-run teams No. 68 Chevy isnt the speediest car out there, but keeps Brown competitive. Unfortunately, he wont have that luxury next weekend at Indianapolis Motor Speedway.

Brown revealed on Friday that Cup Series regular Austin Dillon will be driving the No. 68 Camaro on the Indy road course because Brandonbilt Motorsports couldnt secure sponsorship money. Instead, Brown will flip over to Mike Harmon Racings No. 47 car for the week.

Brandon Brown has one top-five finish (third last weekend at Loudon) and two other results in the top 10. The fact that four drivers below him on the points list have scored more top-10 results is a tribute to Browns ability to maximize points from the 11 (out of 15) other races hes finished. The issue he faces in Indianapolis is that the Mike Harmon Racing Chevy is a non-competitive car. Gray Gauldling, Brennan Poole, and Ryan Vargas have raced in it seven times with no top-10 showings. The rest of the season has been a series of DNQs.

In fact, Brown wouldnt even bother to take that ride if not for the need to attempt to qualify every week in order to maintain playoff eligibility.

We are diligently working to secure the necessary funding that is needed to keep Brandon in the No. 68 for the remainder of the 2022 NASCAR Xfinity Series season and we look forward to his return the following weekend at Michigan International Speedway, team co-owner Jerry Brown, the drivers father, said in a statement on social media.

Brandon Browns one Xfinity Series victory, late last season at Talladega, infamously started the Lets go Brandon uproar. Brown contended the political overtones made it impossible to lock in conventional sponsorships for this season, though he may have been exaggerated the extent of the problem.

Brown and his team made a deal with the Lets Go Brandon Coin (LGBCoin) cryptocurrency, but NASCAR rejected the sponsorshipbecause of the political connotations. That sent the value of the cryptocurrency, not nearly as widely accepted as Bitcoin, plummeting and left Brown with minimal options for fresh money to run the full season in the No. 68 Chevy.

Brown and LGBCoin reportedly negotiated a personal endorsement deal that would have put money in his pocket that the driver could move to the car. However, its never been clear whether he realized any meaningful gain from that deal, with one report characterizing the entire episode as a dumpster fire.

LikeSportscastingon Facebook. Follow us on Twitter@sportscasting19and subscribe to ourYouTube channel.

Got a question or observation about racing? Sportscastings John Moriello does a mailbag column each Friday. Write to him at JohnM@Sportscasting.com.

RELATED: Brandon Brown Rides to Bubba Wallaces Defense at Talladega Over Stupid Twitter Criticism

Originally posted here:
Xfinity Driver Brandon Brown's Offseason Dalliance With a Volatile Cryptocurrency Bitcoined Him in the Butt - Sportscasting

Posted in Cryptocurrency | Comments Off

Cryptocurrency Avalanche Down More Than 3% Within 24 hours – Benzinga – Benzinga

Posted: at 1:18 pm

Avalanche's AVAX/USD price has decreased 3.16% over the past 24 hours to $24.17. This is contrary to the coins performance over the past week where it has experienced an up-trend of 26.0%, moving from $19.33 to its current price.

The chart below compares the price movement and volatility for Avalanche over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has decreased 0.0% over the past week, while the overall circulating supply of the coin has decreased 0.15% to over 283.90 million. This puts its current circulating supply at an estimated 39.43% of its max supply, which is 720.00 million. The current market cap ranking for AVAX is #14 at $6.87 billion.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Follow this link:
Cryptocurrency Avalanche Down More Than 3% Within 24 hours - Benzinga - Benzinga

Posted in Cryptocurrency | Comments Off

Cryptocurrency Polygon Falls More Than 3% In 24 hours – Benzinga – Benzinga

Posted: at 1:18 pm

Over the past 24 hours, Polygon's MATIC/USD price has fallen 3.96% to $0.87. This is opposite to its positive trend over the past week where it has experienced a 26.0% gain, moving from $0.69 to its current price.

The chart below compares the price movement and volatility for Polygon over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 10.0% over the past week along with the circulating supply of the coin, which has fallen 0.21%. This brings the circulating supply to 8.01 billion, which makes up an estimated 80.07% of its max supply of 10.00 billion. According to our data, the current market cap ranking for MATIC is #13 at $6.94 billion.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Originally posted here:
Cryptocurrency Polygon Falls More Than 3% In 24 hours - Benzinga - Benzinga

Posted in Cryptocurrency | Comments Off

Cryptocurrency Solana Decreases More Than 3% Within 24 hours – Benzinga – Benzinga

Posted: at 1:18 pm

Solana's SOL/USD price has decreased 3.85% over the past 24 hours to $41.26. This is contrary to the coins performance over the past week where it has experienced an up-trend of 11.0%, moving from $37.35 to its current price.

The chart below compares the price movement and volatility for Solana over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Solana's trading volume has climbed 10.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 0.31%. This brings the circulating supply to 345.76 million. According to our data, the current market cap ranking for SOL is #9 at $14.26 billion.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

See the article here:
Cryptocurrency Solana Decreases More Than 3% Within 24 hours - Benzinga - Benzinga

Posted in Cryptocurrency | Comments Off

How Close Are We to Uploading Your Mind? – How-To Geek

Posted: at 1:16 pm

cigdem/Shutterstock.com

Mind uploading, technically known as whole brain emulation, is the idea that you can digitize a brain (and presumably the mind) and have that mind live on within the computer long after the body is dust. But how realistic is this idea?

First, why does anyone want to do it? The obvious answer is that many people are interested in extending their lifespan, to keep existing as a conscious being when their body and brain die. If you believe in any sort of afterlife, then this is a non-issue for you. But even so, the idea of preserving your mind for the foreseeable future is intrinsically appealing.

Apart from this rather self-centered motivation, there are other interesting potential applications for this sort of theoretical technology. Maybe we want to preserve our smartest people, so they can keep coming up with brilliant ideas. Perhaps its a way to achieve strong AI without having to crack the secret of how consciousness works. It could be a way to send the human mind into space without the need for large, slow ships or life support systems. These ideas are just the tip of the iceberg, so suffice it to say that theres more than enough interest to fund serious research in this area.

However, just because you have money and manpower to throw at a problem doesnt mean youll get anywhere. There are some serious roadblocks on the way to digital immortality.

On the face of it, this sounds like a silly question. However, despite all of us (supposedly) having minds and thoughts, we dont know all that much about what a mind is or how it works. Weve learned a lot about how human psychology works, how neurons work, and how specific substructures of the brain work, or at least what they do. But all of these puzzle pieces dont add up to any true understanding of the mind.

The reality is there are some fundamental mysteries about the mind-body relationship. For example, is it enough to emulate just the brain? Do we need to emulate the whole brain? Can a mind operate without a body? Does the body have to be emulated too?

To keep your mind intact might require simulating a lot of flesh and blood baggage it was designed to expect, and altering a digital mind so that it doesnt need that stuff arguably means its no longer a faithful reproduction. Thats before we deal with the fact that we dont know what aspects of our brains are important or how the brain works at a low level.

You need a lot of computational power to create simulations. Exactly how much power you will need depends on what youre planning to simulate. It might turn out that a lot of the brain simply doesnt have to be simulated in perfect detail to make everything work, or it could turn out that every bit of information about the state of every single brain cell matters. Theres a massive gulf in the computational power needed between those two extremes, but even at the low end, the computational needs are massive.

The Blue Brain project is a real-life research project with the aim of simulating a mouse brain. The project started in 2005, and by 2019 the research team announced that they had completed mapping the whole cortex of a mouse and were preparing to run virtual EEG experiments. Despite using the Blue Gene supercomputer, the mouse cortex model had become too heavy to simulate. You begin to see just how far away from human brain simulations we are if even a mouse brain demands more horsepower than we can muster.

Digitizing a brain means scanning it somehow. The most accurate scans are destructive, where a brain is treated and sliced into very thin slices, which are then reconstructed. Clearly, this isnt great news for the owner of the brain!

Even then, its not yet clear if those extremely high-fidelity scans contain all the information you need to upload a snapshot of a mind. Noninvasive scanning methods, such as fMRI, dont have anywhere near the detail of these destructive scanning methods, but that technology is improving all the time.

If the biological structure of the brain is in fact essential to uploading a mind, then well need to advance a few orders of magnitude when it comes to our ability to scan and capture those structures. It may turn out that the way our mind works might require information about things that are happening at the subatomic level, in the realm of quantum physics. If that turns out to be true, it becomes even harder to imagine a technology that can capture the necessary data.

One major snag, and one thats perhaps not solvable, is that mind uploading would be a form of copying and not transfer. In other words, no matter what you do your current consciousness will die when your brain does. The uploaded mind is a copy. It will believe its you, and it will think exactly as you would. It would have all your memories and experiences, assuming that the technology works that is. Yet your subjective experiences and consciousness will end. Even if mind uploads are done after your natural death, the original you is gone.

Whether this actually matters is a question for philosophers. But if mind uploading that can be done on a living brain without destroying it ever becomes real, it would mean that you and the digital copy of you would exist side-by-side. The two of you would immediately start to diverge into different individuals.

With any problem that doesnt have a clearly-defined scope, its impossible to put a timeline on things. An uploaded mind may never happen, or there could be a breakthrough next year. There are also many different variations on the theme of mind uploading that dont require whole brain emulation. Similar to Amazons infamous experimental feature for Alexa, we already have AI chatbots that learn to mimic people, living or deceased, by looking through all of their available data. This imitation could fool someone into thinking the bot was the original, which meets some rudimentary standards of mind uploading, but clearly isnt what people are looking for here.

Considering that we expect major leaps in both computing power and artificial intelligence systems that could help crack some of the harder problems on the road to mind-uploading, it would not be shocking to see some semblance of it during the 21st century. But at the same time, it would be surprising for it to remain permanently in the world of science fiction. Only time will tell.

RELATED: What Is Machine Learning?

Continued here:

How Close Are We to Uploading Your Mind? - How-To Geek

Posted in Mind Uploading | Comments Off

Ranveer Allahbadia: Of collaborations and making Reels – Hindustan Times

Posted: at 1:16 pm

What should you remember while going ahead with your debut collaboraion? And why its crucial for content creators to make short-format videos

Collaborate carefully

Ive just gotten my first collaboration offer. What are some of the things I should keep in mind while deciding whether to take it or not?

Shivan, Via Instagram

You should always decide based on whether it is a brand you will actually use or if you are just doing it for the money. If its just for financial reasons, please dont do it, because its not ethical and your audience can see through it. Secondly, you have to ask yourself if the content that you are uploading on your social media would have been uploaded anyway if the brand wasnt a part of their content piece. If the answer is yes, then go for it. If you are forcing a brand deal, then I would suggest that you dont upload it.

The long and short of it

Is it absolutely necessary for me, an aspiring content creator, to make Reels?

Anikha, Mumbai

In the modern day, if you are starting to grow as a content creator, re-use the central part of the content creation. Short content is the center of social media. So, you shouldnt be the one to say I cant do short content and video, as that is how you grow on social media. You have to play the game according to the algorithm.

Popularly known as BeerBiceps, Ranveer is a star YouTuber and digital marketing entrepreneur. His videos on fitness, grooming and wellness, and his recent podcasts, have won him millions of fans

From HT Brunch, July 23, 2022

Connect with us on facebook.com/hindustantimesbrunch

Subscribe to our best newsletters

Subscribed to newsletter successfully

Thank you for subscribing to our Daily News Capsule newsletter.

Read the original post:

Ranveer Allahbadia: Of collaborations and making Reels - Hindustan Times

Posted in Mind Uploading | Comments Off

Jasmine TXO: The key to cracking TikTok – Ragtrader

Posted: at 1:16 pm

(@jasminetxo)5.5 million followers

I think the number one thing for a fashion brand to note before working with a TikTok creator is to always allow for creative freedom. As content creators, we understand that brands often have a specific vision in mind, particularly fashion brands, since the items being sold are tangible and shown on screen visually.

In saying this, giving creators a brief that aligns with the brands vision and key messaging yet remains open to individual interpretation means that the creator is being authentic with their content. Audiences know when a creator is uploading content that does not align with their regular style or format, so its important that this is always taken into consideration by the brand.

More specifically, in regards to creators who focus on building and maintaining a strong community online, it can be extremely jarring for their long term viewers to come across their favourite creator on the following or for you page only to find content that they would never usually have any interest in watching.

This lack of authenticity not only comes across to the viewer, but in turn can have significant impact on the engagement of the content. Factors including watch time, saves, shares and likes are the biggest contributors to the way content performs on the platform, so if a viewer is not interacting with the video as they usually would it is likely that the branded content will not perform on par with the creators organic content. Hence why creative freedom is pivotal in ensuring the best results for both the creator and the brand.

(@grace.hylandd)569k followers

Fashion has never been more consumable than in the age of social media! The very platforms that we use to both produce and consume social media have such smart algorithms that cater our media to our specific tastes depending on the content we engage with the most.

TikTok, is remarkably one of the best platforms at doing this which makes fashion so consumable. As a result, fashion brands can be sure that the creators they work with have a large portion of their audience that are inspired by their style.

Consumers can picture themselves in fashion pieces like never before, but I think we can take this further.

As a transgender woman who started her transition at 12, fashion was a very important part of my transition. Years later, having found a style that compliments my femininity and personality, I have the privilege of educating over 600k people on my platforms.

If we take this into account, I think fashion brands can make a huge difference when it comes to supporting those who need it most.

By aligning with creators who represent minority groups, fashion brands are not just saying that they stand with us but they ARE standing with us.

Fashion brands that take the plunge and dare to be different have the power to help so many diverse people find their fashion sense through the creators that represent them, and in-turn make their life that little bit fiercer!

(@tyra.mua)587k followers

TikTok is an exciting way for brands and creators to come together in a beautiful partnership that can lead to success on both sides. Cracking the TikTok algorithm and winning the hearts of its users can, however, be tricky.

I think the most prominent factor fashion brands should know about working with TikTok creators, is that like themselves, TikTok creators also have their own brand and aesthetic theyre trying to establish or have established. So sometimes, rather than going with the most popular creator with the largest following, choosing to go with a creator with a really established community, high engagement levels, and that has a following similar to that of a fashion brand, can sometimes be a much more successful campaign or partnership.

Sometimes creators and influencers online can feel more approachable and real compared to the big celebrities. Audiences can see themselves in online influencers in a way they cant with celebrities. Seeing someone you can relate to wearing a specific piece in their style can be much more influential than seeing a supermodel wearing the exact same piece down a runway at Paris Fashion Week.

The other thing to keep in mind is the sheer reach some creators have on TikTok compared to a lot of the big celebrities. Gen Z mainly resides on TikTok and submerge themselves in influencer culture, so it is a way for brands to stay current and on-trend.

Read the original here:

Jasmine TXO: The key to cracking TikTok - Ragtrader

Posted in Mind Uploading | Comments Off

Daily Archives: July 23, 2022

States Turning Eyes To Taxation Of Cryptocurrency And Non-Fungible Tokens (NFTs) – Sales Taxes: VAT, GST – United States – Mondaq

You Should Buy This Cryptocurrency Only If You’re Willing to Risk It All – The Motley Fool

UAE emerging as global cryptocurrency hub, says industry expert – wknd.

Xfinity Driver Brandon Brown’s Offseason Dalliance With a Volatile Cryptocurrency Bitcoined Him in the Butt – Sportscasting

Cryptocurrency Avalanche Down More Than 3% Within 24 hours – Benzinga – Benzinga

Cryptocurrency Polygon Falls More Than 3% In 24 hours – Benzinga – Benzinga

Cryptocurrency Solana Decreases More Than 3% Within 24 hours – Benzinga – Benzinga

How Close Are We to Uploading Your Mind? – How-To Geek

Ranveer Allahbadia: Of collaborations and making Reels – Hindustan Times

Jasmine TXO: The key to cracking TikTok – Ragtrader

The Prometheus League

Breaking News and Updates

Prometheism

Forbidden Fruit

The Evolutionary Perspective

Transtopia Menu

Library Updates

Library Books

Future Euvolution

Lucid Dreams from Childhood

Genetic Revolution

Speciation + Self-Directed Evolution