“Bitcoin Should Be Banned or Taxed”
The Minneapolis Federal Reserve Bank has suggested that if the government bans or taxes Bitcoin, it will run permanent budget deficits.
The Minneapolis Fed’s October 17 report suggested that Bitcoin would be problematic at a time when governments are trying to run permanent deficits using nominal debt. According to the report, governments should tax or ban assets like Bitcoin in order to sustain budget deficits.
“Bitcoin is a problem for governments”
The Minneapolis Fed claimed that Bitcoin has created a “balanced budget trap,” an alternative situation where governments are forced to balance their budgets.
The research report included the following statements;
“A potential ban on Bitcoin could create a unique application of permanent primary deficits. Bitcoin could also be taxed.”
The primary deficit occurs when governments spend more than they collect in taxes and other revenues. The term “permanent” used for the primary deficit means that the government plans to continue spending more than its revenue indefinitely.
The total accumulated national debt of the United States has exceeded $35.7 trillion. On the other hand, the primary deficit, which is the annual difference between tax revenues, is around $1.8 trillion.
Reuters reported that this year’s deficit, the largest outside of the COVID-19 period, is related to treasury costs. The news reported that interest costs on treasury debt increased by 29 percent to $1.13 trillion.
Matthew Sigel, head of digital asset research at VanEck, commented on the Minneapolis Fed’s rhetoric regarding Bitcoin. Sigel noted the following;
“The government dreams of a ‘legal ban’ and extra taxes on $BTC to ensure that its debt remains the ‘only risk-free security.’”
$ETH $BNB
#CryptoDeNostradame #ParrotBambooCrypto
𝗚𝗿𝗮𝘀𝘀 𝗙𝗶𝗻𝗮𝗹 𝗔𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝗖𝗵𝗲𝗰𝗸𝗲𝗿 𝗶𝘀 𝗡𝗼𝘄 𝗟𝗶𝘃𝗲! 🪂
𝗖𝗵𝗲𝗰𝗸 𝗵𝗲𝗿𝗲: 𝗴𝗿𝗮𝘀𝘀𝗳𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻.𝗶𝗼/𝗲𝗹𝗶𝗴𝗶𝗯𝗶𝗹𝗶𝘁𝘆
𝗔𝗶𝗿𝗱𝗿𝗼𝗽 𝗢𝗻𝗲 𝗮𝗹𝗹𝗼𝗰𝗮𝘁𝗲𝘀 100,000,000 𝗚𝗥𝗔𝗦𝗦 (10% 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆) 𝘁𝗼 𝗲𝗮𝗿𝗹𝘆 𝗻𝗼𝗱𝗲 𝗿𝘂𝗻𝗻𝗲𝗿𝘀 𝗮𝗻𝗱 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗺𝗲𝗺𝗯𝗲𝗿𝘀:
🔹 9% 𝗳𝗼𝗿 𝘂𝘀𝗲𝗿𝘀 𝘄𝗵𝗼 𝗲𝗮𝗿𝗻𝗲𝗱 𝗚𝗿𝗮𝘀𝘀 𝗣𝗼𝗶𝗻𝘁𝘀 𝗱𝘂𝗿𝗶𝗻𝗴 𝗦𝘁𝗮𝗴𝗲 1.
🔹 0.5% 𝗳𝗼𝗿 𝗚𝗶𝗴𝗮𝗕𝘂𝗱𝘀 𝗡𝗙𝗧 𝗵𝗼𝗹𝗱𝗲𝗿𝘀 (4,996,015 𝗚𝗥𝗔𝗦𝗦 𝗱𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗲𝗱 𝗲𝗾𝘂𝗮𝗹𝗹𝘆, 515 𝗚𝗥𝗔𝗦𝗦 𝗽𝗲𝗿 𝗡𝗙𝗧).
🔹 0.5% 𝗳𝗼𝗿 𝘂𝘀𝗲𝗿𝘀 𝘄𝗵𝗼 𝗶𝗻𝘀𝘁𝗮𝗹𝗹𝗲𝗱 𝘁𝗵𝗲 𝗗𝗲𝘀𝗸𝘁𝗼𝗽 𝗡𝗼𝗱𝗲 𝗼𝗿 𝗦𝗮𝗴𝗮 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗯𝗲𝗳𝗼𝗿𝗲 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 11 (5,000,000 𝗚𝗥𝗔𝗦𝗦 𝘀𝗵𝗮𝗿𝗲𝗱 𝗲𝗾𝘂𝗮𝗹𝗹𝘆).
𝗧𝗵𝗲 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗦𝗻𝗮𝗽𝘀𝗵𝗼𝘁 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝘀 𝘂𝘀𝗲𝗿𝘀 𝘄𝗵𝗼 𝗲𝗮𝗿𝗻𝗲𝗱 𝗼𝘃𝗲𝗿 500 𝗚𝗿𝗮𝘀𝘀 𝗣𝗼𝗶𝗻𝘁𝘀 𝗶𝗻 𝗮𝗻𝘆 𝗲𝗽𝗼𝗰𝗵.
𝗪𝗵𝗮𝘁'𝘀 𝘆𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗹 𝗮𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻? 𝗥𝗲𝗽𝗹𝘆 👇🏻
#GRASSAirdrop #GrassChallenge #GRASS #GrassAI #grass
🚀 **Stripe's $1.1B Acquisition of Bridge: A Crypto Milestone!** 🚀
Fintech giant Stripe has just made waves in the crypto world by acquiring stablecoin platform Bridge for a whopping $1.1 billion! 🌐💸 This record-breaking deal is the largest acquisition in the crypto industry to date, showcasing Stripe's growing interest in the digital currency space.
Bridge, co-founded by Sean Yu and Zach Abrams, offers innovative tools for businesses to accept stablecoin payments, making transactions faster and more accessible. With this acquisition, Stripe is set to enhance its crypto capabilities, having already integrated Circle’s USD Coin (USDC) and partnered with Coinbase.
While the broader market remains unpredictable, this move signals a bright future for Bitcoin enthusiasts as major players continue to invest in the crypto ecosystem. 🌟🚀
Arbitrum Faces Continued Downtrend Amid Market Optimism
Arbitrum (ARB) has experienced a significant decline, dropping 3.21% against the US Dollar in the last 24 hours, and is currently trading at $0.590780. Despite a slight increase in the overall cryptocurrency market cap by 1.02%, ARB underperformed, recording a 1.54% loss against Bitcoin.
Over the past month, ARB has shown a negative trend, losing 3.07%, and has dropped 29.22% over the past year. The coin's medium-term outlook remains bearish, with a 26.15% decline in the last three months.
While technical indicators show a mixed sentiment, with 20 indicators signaling bullish and 7 bearish, the overall market sentiment remains neutral. The Fear & Greed Index reads "Greed" at 72, indicating investor optimism, but caution is advised due to potential overvaluation.
Key support levels to watch are $0.575988, $0.541294, and $0.521382, while resistance levels are $0.630594, $0.650507, and $0.685201. Despite a predicted 29.87% rise in the next five days, the long-term outlook for ARB remains uncertain.
🪷 PI vs BITCOIN 💎
🚨Pi Coin and Bitcoin differ in several ways, including their purpose, structure, and current status:1. Technology and Consensus:Bitcoin operates on a Proof-of-Work (PoW) consensus, meaning miners must solve complex computational puzzles to validate transactions and earn rewards. This is energy-intensive.Pi Coin aims to use a more energy-efficient consensus model called Stellar Consensus Protocol (SCP), allowing users to mine Pi on their phones without draining energy.2. Purpose:Bitcoin was created as a decentralized digital currency to serve as an alternative to traditional fiat money.Pi Coin is designed to create a more inclusive cryptocurrency ecosystem where users can mine coins on mobile devices with minimal energy use. It's still in development, aiming to build a broader network before becoming tradable.
3. Market Status:
Bitcoin is fully established, with a robust market, wide acceptance, and significant institutional backing. It has a high value and acts as a store of value or "digital gold."
Pi Coin is still in its testing phases (as of 2024), and it's not yet listed on major exchanges. It has potential, but its future market value is uncertain.
4. Accessibility:
Bitcoin mining is resource-heavy, requiring specialized hardware.
Pi Coin promotes mobile mining with no specialized hardware requirements, making it more accessible to the average user.Bitcoin is established with high value and influence, while Pi Coin is still in development with the potential to become a more accessible, eco-friendly alternative.
🚨Moonbix Update: Unlock Rewards with Task Completion and Web3 Integration! 🚨
Moonbix has rolled out an 💎exciting new update, bringing a fresh wave of opportunities for users to earn rewards by completing tasks and integrating Web3 features. In this latest update, users can now bind their accounts, complete simple tasks, and unlock exclusive rewards, enhancing their overall experience on the platform.
The integration of Web3 technology is at the heart of this update, 🦓allowing for a more seamless and secure way to interact with the decentralized ecosystem. By connecting your wallet and binding your account, you can access a variety of tasks ranging from simple daily activities 💎to more challenging missions. Each completed task brings users one step closer to earning valuable rewards such as tokens, NFTs, or other digital assets that can be used across the Moonbix ecosystem.
This update positions Moonbix as a more dynamic platform ❣️#MoonbixRumor that continues to prioritize user engagement and decentralization. Whether you're a new user or a seasoned participant, the new task completion system combined with Web3 features opens the door to more 🌱personalized and rewarding interactions. Don't miss out on this opportunity—start completing tasks today and reap the benefits!😉
#BinanceMoonBox #Wifey #TeslaTransferBTC #BTCSoarsTo68K
“Five altcoins to accumulate for the upcoming altcoin bull”
Analysts have associated the strong outlook in ETH and BTC with the altcoin bull. Analysis platform Coinpedia has listed five altcoins with potential to accumulate for a possible altcoin bull.
The analysis included the following statements;
“The top five altcoins with the potential to dominate the crypto space in the fourth quarter”
Here are those altcoins…
ApeCoin (APE)
ApeCoin ($APE ) has launched its blockchain initiative ApeChain. The initiative has increased the APE price by over 100 percent. Coinpedia added APE to the first row of its potential bull basket. The analysis included the following statements;
“APE is currently trading 46 percent away from its yearly high. This indicates a high probability of an uptrend. The APE chart points to a bullish outlook this week.”
Arbitrum (ARB)
Arbitrum (ARB), a Layer-2 project, gained momentum as the ETH price exceeded $2,700. ARB reached $0.6 with a 10 percent increase in the last 24 hours. ARB, with a market value of $2.42 billion, recorded a trading volume of over $300 million in the last 24 hours.
Jupiter (JUP)
Jupiter ($JUP ), a decentralized exchange on the Solana blockchain, has seen significant growth in recent days. Jupiter, which increased its network activity, created its own wallet and expanded its user pool, gave a bullish signal. JUP increased by 10.68 percent in the last 24 hours.
DYDX
The fluctuations in the crypto market also affected the decentralized finance (DeFi) project DYDX. DYDX experienced a 2,380 percent increase in daily trading volume. The transaction increase in question was reflected positively in the price and DYDX increased by 28.41.
Mina (MINA)
Mina ($MINA ), which is reflected as the world's lightest blockchain, has gained remarkable momentum recently. Although MINA could not break the potential resistance level of $ 0.65, it managed to remain strong. It is thought that MINA, which is traded at $ 0.62, will continue its rise.
#CryptoDeNostradame #ParrotBambooCrypto
🚀 Remember Solana at $0.50 in 2020? Now it’s Over $150! Could CYBRO Be the Next Big Surge?
In 2020, #Solana was trading at just $0.50, and now it’s rocketed past $150! The question on everyone’s mind: Could CYBRO repeat this meteoric rise? Currently priced at just $0.035, CYBRO has the crypto community buzzing with its potential for massive gains.
🔹 CYBRO Defies the Odds with AI-Powered DeFi
CYBRO is reshaping DeFi by leveraging the power of AI to revolutionize yield farming on the Blast blockchain. Even in its early stages, this project has made waves, surpassing a $3 million presale milestone and drawing the attention of crypto investors worldwide.
🔹 Key Features of CYBRO
💰 High Yield Farming: Optimized strategies for any market condition.
🎁 Exclusive Staking Rewards: Earn up to 10% returns, no matter the market!
🎯 Airdrops & Perks: Reduced fees, insurance, and free token distributions.
📉 Limited Supply: With only 21% of total tokens left in presale and 80 million sold, time is running out to get in early!
🔹 Market Predictions
Experts are predicting a potential 1200% surge for CYBRO, making it a must-have for savvy investors looking for the next crypto star. Early adopters of CYBRO stand to gain exclusive benefits and secure a foothold in this exciting DeFi space.
💥 Solana’s Momentum
Meanwhile, Solana (SOL) continues its upward trend, trading between $138.03 and $154.93. With resistance at $162.09, a breakout could see SOL climb even higher. However, while SOL consolidates, CYBRO stands out as a high-growth opportunity.
🔑 Conclusion
With its advanced DeFi solutions, attractive staking rewards, and AI-powered innovations, CYBRO offers investors a unique opportunity in the fast-evolving crypto landscape. As we head into 2024’s anticipated bull run, CYBRO could be the next big thing— don’t miss out!
💬 Will CYBRO follow in Solana’s footsteps? Share your thoughts below and join the conversation!
#SCRSpotTradingOnBinance #BinanceLabsInvestsLombard #BNBRisesTo600 #USRetailSalesBoost
$BTC DETAILED TECHNICAL ANALYSIS
Prime position for growth
After today's spill, many are already beginning to prepare for a deeper correction.
However, it is precisely at such turning points that sharp shifts in the opposite direction from expectations often occur.
I don’t expect a very deep pullback, I think the maximum they can take us to is $66,700 - $66,000.
Therefore, from the current levels up to $66k is the trading range that I consider as a potential rebound zone.
Negativity is accumulating, and this is very good for the upcoming growth. There are now many more short sellers, following which we should see them being taken out very soon.
#Bitcoin❗ #UptoberBTC70K? #SCRSpotTradingOnBinance #APESurge #BinanceLabsInvestsLombard
🚨Justin Sun Transfers 39,419 WETH to Aave Worth $105.11 Million 💰🚨
In a significant move within the crypto space, Justin Sun, the founder of Tron and prominent blockchain figure, has transferred a whopping 39,419 Wrapped Ethereum (WETH) to the DeFi platform Aave, valued at approximately $105.11 million 🤑.
This massive transfer has caught the attention of the crypto community, as it signals Sun's ongoing interest in decentralized finance (DeFi) and his strategic positioning in the Ethereum ecosystem 🌐. Aave, being one of the leading DeFi lending platforms, allows users to lend and borrow assets without intermediaries, and Justin Sun’s sizable WETH deposit could hint at upcoming moves within the DeFi market 📈.
This transaction showcases how major players like Sun continue to leverage DeFi protocols to manage significant sums of cryptocurrency assets. Whether this transfer is intended for liquidity provision, yield farming, or other decentralized strategies remains to be seen 👀.
As the world of DeFi continues to grow, Sun’s actions could be a sign of further developments in the space. With $105 million on the line, the crypto community will be closely watching to see what moves he makes next 🚀.
Stay tuned for more updates on this unfolding story! 🔥
#JustinSun #Write2Earn! #BinanceBlockchainWeek #BTCSoarsTo68K #CanaryLitecoinETF
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