Yet, most of the traders lost money.
There is a lesson here
Description shamelessly stolen from IWTV's website.
This weekend five events stream live on IWTV including shows from H2O, AIW, Sean Henderson Promotions, the debut of Bloodstorm Pro and Colby Corino's 25th Anniversary Show.
Friday
The weekend kicks off with Colby Corino's 25th Anniversary Show streaming live at 7pm EDT on Friday (8/27) night. The show will be headlined by Steve Corino returning for one night only to take on his son Colby Corino.
Also announced:
Rob Killjoy vs Chip Day
Jon Davis vs Patrick Scott
PWF Tag Team Titles: The Wrestling Prodigies vs The Dawsons
Bad and Boujee vs The Standard vs Chance Rizer and Donnie Ray vs Out Of This World
The Infinite Man vs Diego Hill
Whoever Shows Up Scramble
At 7:30pm EDT on Friday night, AIW presents A Touch Of Evil featuring Danhausen battling his from stablemate in The Production, Derek Dillinger, plus:
Mance Warner vs Kaplan
Lee Moriarty vs Chase Oliver
Tom Lawlor vs Ethan Wright
Bitcoin Boiz vs The Mane Event
Bulking Season vs To Infinity And Beyond
Then at 8pm EDT, Sean Henderson Promotions' After Laughter streams live:
Tye Hyll vs Marcus Mathers
Steve Sanders vs Kristian Robinson
Austin Luke vs Jordan Oliver
Reid Walker vs Gabriel Skye
Lowlife Louie vs Kennedi Copeland vs Drew Blood vs Deklan Grant
Ryan Redfield vs Dezmond Cole
Saturday
H2O Wrestling's Street Justice streams LIVE at 8pm EDT on Saturday (8/28) night.
The card for Street Justice is as follows:
44.OH! (Rickey Shane Page, Eric Ryan and Bobby Beverly) vs White Trash Forever (Ron Mathis, Bruce Grey and Tyler Voxx)
Tatiana vs Jenny Rose
Hybrid Championship: Gregory Iron (c) vs Drew Blood
Danny Havoc Hardcore Championship, Ladder Match: Atticus Cogar (c) vs Marcus Mathers
Kristian Ross and Chris Bradley vs Chuck Payne and Mitch Vallen vs Mouse and Aiden Ball vs Deklan Grant and Devon Moore
GG Everson and Steve Sanders vs Austin Luke and Ryan Redfield
Kennedi Copeland vs Eddy Only
Sunday
Finally on Sunday (8/29) at 4pm EDT, BloodStorm Pro's debut event, Welcome To Hell streams live. Welcome To Hell will see former IWTV Independent Wrestling Champion, WARHORSE, fight G-Raver plus
Gary Jay vs Hallowicked
Gateways To Annihilation: The Carver vs Raven Havok
Kasey Catal vs Molly McCoy
IronBeast (Shane Mercer and KTB) vs The Rep (Dave McCall and Nate Carter)
The Hallowed (Lord Crewe and Otis Cogar) vs Jeff Cannonball and Kennedi Copeland
Sean Henderson vs Brandon Kirk
Another weekend, another showcase of my IWTV is one of the best wrestling streaming services out there. 10 bucks gets you all these shows, it gets you everything streaming live over the next month, and access to the limitless content they have from places like Beyond, ICW, Paradigm, CZW, CHIKARA, Camp Leapfrog, and tons more.
Jurien gave a great webinar on Bitcoin today, and he talked about BTC in the context of monetary policy, other hard assets like gold & silver, and how to think about it as part of your portfolio. Here is the link, if they don't keep it alive for long, you may have to login to Fidelity.com and look for the archived presentation somewhere, and/or sign up for a future presentations.
Jurien Timmer, CMT, is director of Global Macro at Fidelity Investments. I follow him "@" TimmerFidelity on Twitter.
This incident occurred around 5 pm ET. I was checking my balance and I found out that my $6500+ available fund became $70. Then I checked the recent transaction history and it showed that somebody converted my investment to BTC and sent it out 2 times in $1500 and $5000. I immediately locked my account and submitted a ticket to Coinbase customer service. I checked my email that was associated with my Coinbase account and my email was bombed. I scanned for viruses using Microsoft Defenders and found 0 viruses. I downloaded Malwarebytes to scan for viruses and found 78 threats (most of them are viruses). I used a two-step verification for security purposes, and I checked my google phone number that was associated with another google account, and somebody was able to get the verification code.
I guess I am fked. I've read lots of Reddit posts that theft victims were told that Coinbase was not responsible for reimbursing the loss due to theft or hack.
Update: I just went to the police department in my area. They told me in order to file a police report I needed to bring a monthly bill/transaction report from Coinbase to prove that I had $6500+ in my Coinbase account (or I had deposited the money to Coinbase) and the money was sent out to other wallets. Besides a monthly bill/transaction report, they also told me to bring an affidavit from Coinbase to basically say that my incident indeed occurred. Now, I can't do both as my account is temporarily locked so I can't log in to retrieve a monthly bill/transaction report. And, Coinbase doesn't have live agents to talk to or any contact info to ask for an affidavit. This is the dilemma I am facing.
Add: I have an idea that can significantly improve security at the expense of having more wait time. The idea was whatever fund that's withdrawn back to bank account/crypto wallets/PayPal should be on hold for 1-3 days for security reasons. If the account holders report that their accounts were compromised or they did not authorize these transactions in this waiting period, then Coinbase can immediately stop all transactions. Yes, more wait time sucks, but it means more theft can be stopped.
Add: Coinbase requires a 7-day pending period for each deposit for security. In this pending period, you can trade instantly but you can't withdraw the money. It's ridiculous for them to ask customers to go through this 7-day no withdrawal pending period but not a single pending day to verify the security/authenticity of the withdrawal? It makes no sense.
Add: Try using other safer platforms like Paypal to trade as it has "Buyer Protection" and it will make you whole in the event unauthorized activity takes place. Yes, Paypal has much fewer Crypto trading options (Bitcoin, Ethereum, Litecoin, and Bitcoin Cash). But they can reimburse you in the case of loss due to theft. Coinbase has more trading options but no buyer protection. This is something Coinbase seriously lacks as a publicly listed "trading platform" company.
https://www.paypal.com/us/webapps/mpp/ua/pp-balance-tnc?locale.x=en_US#protection-unauth
First thing first, there is no way to reverse or resend transferred bitcoin via blockchain but if you lost you bitcoin through bad investment or poacher company, you can get help.
How To Get Lost Coin From Bad Investment
In less than a decade, several crypto millionaires made fortune investing in digital assets, which is the case of Erik Finman, who began investing at age 12 in 2011 to become the world’s youngest bitcoin millionaire at age 18.
However, before knowing how to make the right moves in the crypto game, it is crucial to know how to avoid the bad moves when you buy bitcoin and cryptocurrencies in general.
In this article, you will find out 5 typical investing mistakes with cryptocurrency everyone should avoid.
Mistake #1 – Not Identifying Your Investor Profile Before Starting to Put Money into the Game
In the world of crypto investments, the players who do not take time to identify their investor profile and strategize based on it are bound to lose. In layman’s terms, there are three main profiles that investors may identify with – conservative, moderate, and trader.
The conservative investor, also known as “hodler”, never wants to expose to risk. Typically, such a player’s strategy is mostly based on holding an asset he/she considers valuable based on a long-term appreciation plan that differs from the current cryptocurrency price.
Nowadays, most investors in the crypto industry are moderate, which are individuals who have different positions in their portfolios, a little bit of variety in terms of assets and that follow distinct strategies that involve both trading and hodling.
However, the individuals who make more money in the crypto industry are the traders. A trader is an individual who surfs on the crypto market fluctuations to profit on short-term operations.
Even though trading may sound attractive, it does involve plenty of risks and a large amount of knowledge to avoid losing money in unclever strategies.
Mistake #2 – Not Having a Clear and Thorough Plan
Not planning ahead is the worst thing a crypto enthusiast can do while investing/trading cryptocurrencies.
A decade ago, you would need only an average home computer to mine an amount of Bitcoin that would be a fortune today. However, nowadays the words competition and cryptocurrency are almost synonyms, which means profiting in the crypto market is not a newbie task.
You need to be strategic and establish clear goals before making any decisions. The chances of financial losses are even bigger when you do not know where you want to go. Hence, you must determine your goals, your desires and, only later, get into the crypto game and start profiting with digital assets.
Mistake #3 – Not Knowing What You Are Doing
Not having proper financial knowledge about the cryptocurrency market is one of the main mistakes people make when trying to invest in digital assets.
Currently, many people start investing in cryptocurrencies without having any solid knowledge or even a clue about basic concepts such as what a blockchain is, etc.
Often, some people just want to enter the crypto world because they think this is an easy way to earn money without much effort – which could not be further from reality.
Mistake #4 – Having No Patience to Deal with the Movements in the Crypto Market
Worldwide, each country’s fiat currency has a central bank to apply different measures to control and manipulate the value of money. Differently, cryptocurrencies have no central bank, no centralized control, or either an entity to control their direction.
Cryptocurrencies are inherently volatile, which is not necessarily a problem when you have strategies to profit over market fluctuations.
However, many individuals do not have the spirit to stand the wind of change, and eventually get discouraged or impatient when things do not go as expected. When you put money in the crypto game, you need to have the patience to deal with the market fluctuations.
Mistake #5 – Never Diversifying the Portfolio
Another common mistake when investing in cryptocurrencies is the lack of portfolio diversification.
When you concentrate capital on only one type of investment, you are increasing the risk of loss, because if any event disturbs the financial market, it will not be possible to recover the invested amount.
The best way to avoid this is to divide the money into different asset categories, such as Bitcoin, Ethereum, Tether, and other promising altcoins.
Conclusion
One can never be careful, but with investment you have to steady be on the lookout because of wolf companies. Checkout some Blacklisted companies.
Peradventure you are currently in business with any of the BLACKLISTED Request for a Consultation
n the crypto tax space, we frequently hear about taxpayers’ responsibilities to calculate and report their capital gains and losses on an IRS 8949 cryptocurrency tax form. However, the tax implications and potential deductions for mining cryptocurrency such as Bitcoin are often overlooked.
Mining cryptocurrency creates multiple tax implications that must be reported on separate forms. This can get complicated quickly, so it’s important to understand the ins and outs of crypto mining taxes.
In this post, we’ll refer to the IRS’s guidance on the taxation of cryptocurrency through Rev. Rul. 2019-24 and an FAQ. The IRS guidance brought cryptocurrency in even more alignment with the tax rules on equities. With increased enforcement on cryptocurrency tax evasion, proper reporting is more important than ever. Specifically, miners need to be aware of:
Crypto mining taxes are equivalent to that of ordinary income taxes. So, when you successfully mine virtual currency, you trigger a taxable event and must report the fair market value of the mined coins at the time of receipt as gross income.
The fair market value of the virtual currency will be added to your other taxable income received throughout the year. As of 2021, the ordinary income tax rates range from 10% to 37%.
Mining is a unique situation because unlike most forms of income, there is no employer to issue a W-2 reporting on gross income. And to complicate this even more, most mining companies are also not issuing 1099s reporting the income received. Be sure to keep detailed records of the date and fair market value of your mined crypto earnings to save you a headache when you need to file taxes.
How you report your mined virtual currency earnings depends on whether you were mining crypto as a hobby or as a business.
Hobby: If mining crypto as a hobby, you will report this income on Form 1040 Schedule 1 as “other income.” Check out our guide on cryptocurrency tax forms to learn more.
Business: If mining crypto as a business, you will report the earnings on Schedule C and are eligible for deductions, which we discuss below. When mining as a business, you will also have to pay the self-employment tax.
You can also simplify reporting taxes on mined crypto with crypto tax software like TaxBit. TaxBit specializes in identifying mining receipts and allocating them in accordance with IRS regulations. If you mined cryptocurrency, you will be provided with an itemized ordinary income breakdown so you can accurately report your income. After itemizing the receipts, the final amount will be added to the other income you received throughout the year.
Selling mined cryptocurrency creates a second taxable event. When you dispose of cryptocurrency, such as through selling, you will incur either a capital gain or loss. Capital gains and losses can be calculated with this formula:
Capital Gains/Loss = Sale Price - Cost Basis
Your cost basis is the value of the cryptocurrency at the time it was mined (the amount included as ordinary income). Subtract this value from the amount you sold the mined coins for to determine your capital gain or loss.
If the value of the crypto is higher at the time of sale then your cost basis, you have a capital gain. The taxes on cryptocurrency gains vary depending on your income and holding period. If the value is lower than the taxpayer will have a capital loss. Every sale or trade of mined crypto must be reported on an IRS 8949 cryptocurrency tax form.
If you mine cryptocurrency as a trade or business (not a hobby), then you may be eligible for certain deductions to lessen your tax liability. § 162 of the Internal Revenue Code states “[t]here shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business.” Miners may deduct certain expenses from their mining income.
Some estimates place the annualized global mining revenues at ~$5.6 billion and global mining expenses at $3.6 billion. These statistics show that expenses may account for more than 50% of the income received from mining.
Some frequent expenses that may be eligible for the trade or business expense deduction include: mining equipment; electricity costs; repairs; and rented space used to operate the equipment.
Miners may deduct the cost of their mining equipment from their ordinary mining income. If the mining equipment exceeds $1 million in costs the taxpayer may need to use the modified accelerated cost recovery system (MACRS) to determine how to depreciate the equipment for tax purposes.
A large cost to mining cryptocurrency is the price of electricity. The energy used worldwide to mine cryptocurrency is equivalent to the energy consumption of the country of Australia.
Electricity costs are an expense that if properly documented may be eligible for the trade or business deduction. To properly document your electricity costs you should track the amount of electricity that is used solely for mining.
If you are mining from your residence then you will need to track and allocate the amount that is attributable to mining. Therefore, if you mine from your residence then you should use a seperate meter to ensure you can properly allocate the energy consumption from mining.
If your mining equipment needed repairs during the year then this expense may be eligible for the trade or business deduction. You should save receipts to validate the expenses in the event of an audit.
If you rent a space to hold and run your mining equipment then you may be eligible to deduct the rental costs as an expense. If your mining equipment is located at your residence then this will be treated similar to a home office and may be more difficult to deduct the expenses. See the rules applicable to the home office deduction to see if you are eligible to deduct costs for the business use of your home.
Yes, crypto miners have to pay taxes on the fair market value of the mined coins at the time of receipt. Mined cryptocurrency is taxed as income, with rates that vary between 10% - 37%. The IRS classifies mining income as self-employment income, and taxpayers may be responsible for self-employment taxes on mined income.
Yes, Coinbase reports to the IRS. At this time, Coinbase issues the IRS Form 1099-MISC for mining or staking rewards greater than $600 and/or fees.
Yes, there are crypto mining deductions available when mining is classified as a business, not a hobby. Some frequent expenses that may be eligible for the trade or business expense deduction include: mining equipment; electricity costs; repairs; and rented space used to operate the equipment.
The cryptocurrency taxes are either the capital gains tax for any disposition of crypto or the income tax for any crypto earned as income through mining, staking, airdrops, or payment. Although buying cryptocurrency is not a taxable event, selling it is.
The IRS aggressively enforces tax reporting on mining and selling cryptocurrency. Fortunately, miners may be eligible for certain deductions to lessen their tax liability. TaxBit specializes in reporting mining income, accounting for selling mined crypto, and claiming applicable deductions.
Stocks notched another round of fresh highs on Wednesday, before taking a breather in the overnight session. Meanwhile, U.S. equity futures are staying close to the flatline this morning as the highly anticipated Fed economic symposium kicks off in Jackson Hole. Central bankers could provide some clarity on the latest monetary policy at the event, with Fed Chair Jerome Powell slated to make remarks on Friday.
Quote: "It is one of the seminal moments each year where everybody is watching," said Mark Spindel, chief investment officer at Potomac River Capital. "There are no immaculate tightenings and now that they've admitted they are talking about tapering, they should refine that talk and give us some insight on what they are going to do." Other discussions may surround the "transitory" effects of inflation, the timetable of interest rates, as well as what impact Delta or other future variants will have on monetary policy.
Interestingly enough, the annual conference was supposed to take place physically in Jackson Hole this year, before the Kansas City Fed's abrupt decision last week to move the gathering online. That'll make it a solely virtual affair for the second year in a row. The dramatic U-turn highlights a delicate balancing act for the Fed as it charts its way out of a period of extraordinary monetary support.
On today's economic calendar: The second reading of U.S. gross domestic product for Q2, measuring the country's economic growth, will be published at 8:30 a.m. ET. The latest jobless claims filed during the week ended August 21 will be released at the same time. Treasury yields are also holding steady before the latest auctions on $30B worth of 4-week bills, $30B of 8-week bills and $62B of 7-year notes. Hut, Hut, Hike!
New Zealand had been set to become the first developed country in the world to raise rates in the pandemic era (until one COVID-19 case grounded its decision), but that title has now gone to South Korea. The Asian nation raised its policy rate for the first time in almost three years on Thursday with a quarter-percentage-point hike to 0.75%. The Bank of Korea also pushed up its inflation projection to 2.1% from 1.8% previously, while the benchmark KOSPI stock index closed down 0.6% for the session.
Bigger picture: Raising rates is a calculated risk for South Korea's export-driven economy, which has strongly rebounded from last year's pandemic slump. The thought here is to start paring back on stimulus before debt bingeing prompts bigger problems like asset bubbles or new threats to the economy. "We've decided to put the focus on reducing financial imbalances, and as we raise the rate, we are embarking on a process of normalizing policy in line with the recovery," the BOK wrote in a statement.
Central banks across the globe are also laying the groundwork for transitioning away from crisis-era stimulus. The move by South Korea could give central bankers and market participants some food for thought before the Fed's annual symposium in Jackson Hole. Chair Jerome Powell delivers his keynote address tomorrow and is expected to signal the future direction of U.S. monetary policy.
Next steps for South Korea: "We won't be doing things in a hurry, but we also won't hold off," BOK Governor Lee Ju-yeol said at a news conference. "As for timing for the further hikes, we will consider how the COVID-19 situation plays out, and changes in the Fed's policy stance, which would have an important impact for us, as well as how the financial imbalances play out." (13 comments)
Sponsored Where to Invest $100,000 Right Now According to Experts
Today, investors face a dilemma. The global pandemic is disrupting markets, making finding promising investments even harder. Bloomberg asked investment experts where they’d personally place $100,000 now. They overwhelmingly recommended alternatives like art. The ultra-wealthy always place their bets on art.
Peggy and David Rockefeller’s art collection sold for $835.1M. Today, Jeff Bezos, Bill Gates, and Eric Schmidt are active art collectors. In fact, 66% of billionaire collectors allocate 10–30% of their portfolios to art. And, the total wealth held in art is set to explode by another $1 trillion by 2026.
Now you can allocate to this asset class with Masterworks.io, the first company to securitize iconic works by artists like Monet, Banksy, and Basquiat. Wall Street Breakfast Readers skip their waitlist*
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Unvaccinated premiums
Vaccine mandates are spreading across the U.S., especially after the FDA issued full approval of a jab from Pfizer-BioNTech (PFE, BNTX). The Pentagon on Wednesday even ordered military troops to begin vaccinating immediately and the measures against the unvaccinated are expanding even in the corporate sphere. While some firms have been strict in their requirements, others have taken a lighter tone, like denying fitness rooms, free coffee or other perks.
Levies are coming: As the more infectious Delta variant circulates nationwide, the airline known by the same name is taking a more punitive approach toward getting its staff inoculated. Starting Nov. 1, Delta Air Lines (DAL) will raise health insurance premiums for unvaccinated employees by $200 a month, in a move that is reminiscent of what some companies already do for smokers. Delta says the surcharges are to cover higher COVID costs, with the average hospital stay due to the virus costing the carrier $50,000 per person.
CEO Ed Bastian also noted that vaccine holdouts represented 100% of hospitalizations. Delta's unvaccinated employees will face other restrictions as well, including indoor masking effective immediately and weekly COVID tests starting Sept. 12. Earlier this year, Delta stopped short of instituting an outright vaccine mandate, requiring only new employees to provide evidence of a jab, unlike rival United Airlines (UAL).
By the numbers: 75% of Delta's workforce is already vaccinated against the coronavirus, so it will be interesting to see if the policy has any effect on the 25%, or about 17,000 workers. A $200 drawdown per paycheck a month would result in an annual cost of $2,400 for that employee. (324 comments)
Grab the chips
Shares of Western Digital (WDC) surged almost 8% on Wednesday following a report that the data-storage technology leader is close to merging with Japan's Kioxia Holdings in a deal that could be worth more than $20B. "People familiar with the matter" said that talks between the companies have heated up recently, according to the WSJ, and a deal could be finalized by the middle of September. Western Digital would finance the deal with its stock, while CEO David Goeckeler would stay on as boss of the combined business.
Snapshot: Kioxia is owned by private-equity firm Bain Capital. While the company's name might not be as well-known outside of Japan, it was once called Toshiba Memory and has a long track record in the semiconductor industry.
Western Digital's acquisition of Kioxia would be good for a commodity industry like NAND memory, according to Wedbush analyst Matthew Bryson, though there is no guarantee a deal of this size would get approved by all the necessary governmental regulators. "The combined entity would be about the same size as Samsung, and questions abound whether Japan will allow a foreign entity to purchase Kioxia."
Consolidation: The deal could further shake up the global chip industry, which has been hit by supply shocks from the pandemic and red hot demand for new smartphones, 5G expansions and a rise in work-from-home culture. Over the past few years, there's been a number of big M&A deals in the industry, including Analog Devices' (ADI) $20B purchase of Maxim Integrated Products, AMD's (NASDAQ:AMD) $35B acquisition of Xilinx (XLNX) and Nvidia's (NVDA) $40B buyout of Arm Holdings (ARMHF). Intel (NASDAQ:INTC) recently also made clear that it's interested in M&A and has explored purchasing GlobalFoundries. (36 comments)
Today's Markets
In Asia, Japan +0.1%. Hong Kong -1.1%. China -1.1%. India flat. In Europe, at midday, London -0.4%. Paris -0.4%. Frankfurt -0.7%. Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq -0.1%. Crude -0.9% at $67.74. Gold -0.1% at $1788.70. Bitcoin -1.1% at $47018. Ten-year Treasury Yield unchanged at 1.34%
Today's Economic Calendar
Jackson Hole Economic Symposium 8:30 GDP Q2 8:30 Initial Jobless Claims 8:30 Corporate profits 10:30 EIA Natural Gas Inventory 11:00 Kansas City Fed Mfg Survey 1:00 PM Results of $62B, 7-Year Note Auction 4:30 PM Fed Balance Sheet
Companies reporting earnings today »
What else is happening...
Sales jump at Salesforce (NYSE:CRM) amid pandemic-fueled cloud demand.
Treasury seeks to accelerate emergency rental assistance distribution.
COVID boosters likely to win regulatory nod for use at six months.
Risk of heart inflammation could be higher after COVID than post vaccination.
Palantir (NYSE:PLTR) glitch gave unauthorized FBI employees access to data - NY Post.
Apple (NASDAQ:AAPL): The tech giant with the $20B ad opportunity.
EV charging player Volta (VLTA) to begin trading today.
Snowflake (NYSE:SNOW) tops estimates, but guides for slower product sales growth.
Will HP (NYSE:HPQ) and Dell (NYSE:DELL) ride the PC wave to strong Q2 results?
White House summit: Microsoft (NASDAQ:MSFT) will spend $20B on cyber security.
Hey Everyone!
Let's go...
Newly covered today:
Previously Covered but still interesting:
~Army of Spies
