Saturday, September 10, 2022

๐Ÿ‘€ Michael Saylor is being sued for tax fraud?!? ๐Ÿ‘ฎ

Here is what to expect today: 

  • Michael Saylor is Being Sued For Tax Fraud
  • Ticketmaster is Combining Tickets With NFTs
  • Huge Brands Are Dominating The NFT Space
  • The Weekly Meme :)

MICHAEL SAYLOR IS BEING SUED FOR TAX FRAUD

Ex-crypto billionaire, Michael Saylor is being sued for tax fraud. He is becoming oddly popular in the news lately. Who is Michael Saylor?

Ex-CEO of MicroStrategy

  • Huge Bitcoin Enthusiast
  • Now The Great Tax Fraud

https://preview.redd.it/7oqahgldp5n91.jpg?width=1200&format=pjpg&auto=webp&s=c90805b703828540b0638df09d2839e7b5f3c143

The DC attorney general filed a lawsuit against Michael Saylor last Wednesday. A whopping 16-page lawsuit.  It stated Michael Saylor has not paid D.C. taxes since 2005, estimated to be $25 million. I'll gladly take a cut of that ๐Ÿ˜. It doesn't end there. They are after MicroStrategy as well, stating it was a major conspirer to help Saylor evade taxes. This is due to the CFO of MicroStrategy allegedly agreeing to reduce Saylor's salary to $1.How did he get caught? He told everyone he was doing so. Smart man๐Ÿค“. In interviews, he stated that if the government questioned him on his bitcoin gains he would say he lost it in some accident. Not kidding check it out.๐Ÿ“ท

TICKETMASTER IS COMBINING TICKETS WITH NFTS

Ticketmaster and Dapper Labs are pairing up to take NFTs to the next level. Ticketmaster events can now have an NFT attached to each of its attendees' tickets of which will be minted on Dapper Labs' blockchain, Flow.๐Ÿ“ท

https://preview.redd.it/4syiq37km5n91.png?width=612&format=png&auto=webp&s=50f8df01eeaebac6ca6bb159ec89c2ea8a606791

The tangible tickets, however, will still be needed at events ๐Ÿ™„. The NFT-wrapped tickets will be used as collectible items rather than the ticket itself. Why This Matters:

  • Ticketmaster sells around 500 Million tickets a year
  • People can trade their tickets as NFTs
  • Ticketmaster created its own wallet & marketplace
  • 5 million NFTs have already been minted

Do you think this will be the new wave of NFTs? Reply with your answer.

HUGE BRANDS ARE TAKING OVER THE NFT SPACE

Nike, Dolce & Gabanna, Tiffany, Gucci, and many more brands are making millions from crypto.  Each brand has created an NFT project with the purpose of being a collectible item and they are knocking it out of the park.No, like Actually...๐Ÿ“ท

https://preview.redd.it/njyh0upnm5n91.png?width=353&format=png&auto=webp&s=bee3d9772daa68cf350f382013ea89b193adae93

Nike is dominating all these brands having made more money than all of them combined. Prior to this drop, they bought a huge NFT company, RTFKT. Their plan is to create Nikeland, a metaverse space that uses the Roblox platform, in which fans can meet up, socialize, and take part in any events. Would you buy in???? Reply with your answer ๐Ÿคฏ

THE WEEKLY MEME 

https://preview.redd.it/0bjbej5rm5n91.png?width=543&format=png&auto=webp&s=4b64fb4f62de9922811557872ddec597f1736671

๐Ÿ“ท


BAT - Tax Question

I know when you take possession of BAT it's a taxable event. However, I'm wondering what happens if for example I got $10 worth of BAT and down the road I trade that BAT (now worth either more or less than the original $10) for something else like Bitcoin? How would that transaction be recorded? Would it be recorded as a separate loss or gain?


I'm in YieldNodes and Scaling Out. I invest in similar C4W for high returns, using YN profits

I posted quite awhile back about Crypto4Winners, and I'm sure that post has worked its way, way down the line since then. I decided to repost, as there is so much FUD about YN, I wanted to provide insight on C4W, another platform, that provides great returns, just not as great as YN. I am posting similarly on the Crypto4Winners thread:

I am an investor in YieldNodes and several months ago saw Crytpo4Winners (C4W) mentioned on a YieldNodes thread. I did some research on C4W previously and posted it. In fact, I made several various posts about it. This is an update, and probably a good read for those looking for diversity from YN.

First things First: -I am not a writer nor affiliated with C4W in any manner other than a C4W platform investor; nor am I an Attorney, CPA, Investment Advisor, or Financial Advisor.

-If you are a U.S. citizen you may be required to file a Fincen Form 114, Report of Foreign Bank and Financial Accounts and maybe an IRS Form 8938.
-Crypto is VOLATILE and still a risky investment. C4W would fall under that category.
-I hope you use my referral link at the end of this article. Definitely not required, you can do it right through the C4W website without my link.

Since my original posting with research about Crypto4Winners (C4W), C4W has made many changes so I thought I would update my research and push it out again. This will be a peppering of old and new. For those unfamiliar w/ C4W and looking for a new investment, or if you’re in YN it could provide a good alternative or diversification. The returns aren’t quite as good as with YN, but they provide a great return for what I view as less risk than YN. I am in YN also, but have been reinvesting my monthly profits from YN into the C4W BTC Pool. Since YN pays out in BTC, it’s an easy transfer from YN to the C4W BTC Pool. For those who are already in C4W, maybe you have missed a few of their changes and this could be an update for you…forewarning though…I may miss a few of their updates as well, as they have had many changes.

Since my post I wrote an article on Medium, w/ C4W permission (When you are in their referral program you have to play by their rules). Since that time, C4W requested that I remove the article. The request essentially came out as an abundance of caution about European crypto regulations. They agreed, they were taking a very conservative approach, which I was fine with and willing to oblige. Anyway, I got into C4W after seeing a brief comment on Reddit. No research but plenty of comments about the sketchy name and nothing out there about them.

Complaints that I heard that my research mitigated away (for me):
-The name “Crypto4Winners” is sketchy. For me, it’s only a name. Issue mitigated.
-Grammar. The front page mis-spelling of the word “licence” was interpreted by several people to be unprofessional so it must be a bad investment. Different English speaking countries have different spellings, pronunciations, and grammatical structure. Grammarly explains (HERE) that in American English “License” is both a noun and a verb, however in many other English speaking countries, especially Europe, “Licence” is a noun and “License” is a verb. If you want to confirm this, open your I-phone, go to “General”, click “Language & Region '' and see all of the different English options you have. Team is not native English speakers. Issue mitigated.
-Lack of Information. I attribute this again, to computer/phone default settings. It is in Europe, not the U.S. You don’t need to change your setting, change your search phrase. Search xxx + Europe, or consider using a VPN. Search Google Images and get past the first page. You’ll see their names associated with crypto events. Use terms from the C4W website and related sites to assist you in building a better search. Even with these, it is difficult, as C4W has taken the view that European crypto laws do not allow them to use social media to advertise directly to the public. I will address this later, but for me…issue mitigated.

Clips from my various posts and article:

-C4W has 3 investment pools: BTC Pool, ETH Pool, & Global Crypto Pool (USDTether/USDC) that are actively managed and rewards paid daily for the BTC/ETH Pools and generally every few days for the Global Pool. They withhold a performance fee of 20% of daily profits and 50% of daily profits, respectively for the BTC/Eth Pools and Global Pool.
-Initial entry into the pools is: BTC .2, additional deposits .1/ETH 2, additional deposits 1/Global Crypto 10,000 USDTether (ERC-20), and additional 5,000. Note: C4W, behind the scenes converts ½ of that amount to USDC to sit as the 50% in long term holding. This is a change from their original fund following the collapse of LUNA. They use 40% of the USDT in their trading, as it provides more trading opportunities, and about 10% into diversified crypto staking.

-C4W has a hedge fund style fee structure and seems commensurate with the results. People complain of the fees, that’s fine, but I don’t think many investors complain of the fees when they start seeing the returns, which are: appx 305% BTC Pool since July 2019; appx 109.% ETH Pool since April 2021; and appx 54.89 Global Pool since January 2022. They’ve been averaging about 5% most recently. You can see the stats on their front home page.

-Earnings are reported and paid in the respective native tokens, so you really are stacking SATS, GWEI, USDT. The earnings show in your account as the native token, but also Euro and USD.

-Returns are generated by investing about 50% of your crypto assets into cold wallets and about 50% actively traded. The investment style involves holding, trading (long, short, algo/bot, day, swing), staking, lending, mining pools, and liquidity pools. There is a mix of smart contracts deployed in the activity.

I am not going to rehash the entire C4W homepage but you should look beyond the funds, returns, and investment strategies. The front page does a good job laying out the safety features that C4W has implemented and you should click their “Security Explanation”. Read their FAQs. They work with LEDGER, who recently published “Case Study Asset Managers: How Ledger Enterprise Empowers Crypto4Winners to Succeed in Web3”.

Back to the home page:

  • There’s a Roadmap: They’ve stuck to it and delivered results. They have also modified it and kept it up to date. For example, the Roadmap previously had a relationship w/ a U.S. based IRA provider. When I asked the provider about the relationship they advised they terminated it only because there just didn’t seem to be any interest in it from their respective platform investors. C4W confirmed the information and realized it was still on their site and removed it.
  • News/Media: It’s on the front page. Read the articles because they describe C4W’s unique investment strategy and platform. They haven’t put much out, which is probably based on their conservative approach to things.
  • Aside from News/Media, they use CryptoGeek and recently added TrustPilot for reviews. They solicit your review when dealing with their Customer Service. Their service has slowed a bit as they have recently, probably due to growth, implemented a chat bot to answer repetitive questions that don’t need a “human” response. Let’s be honest, most people ask the question instead of going to FAQs, so they probably freed up some time by implementing the feature. Click their hyperlinks to see their excellent reviews. I’ve had both questions and issues that I needed handled, and all were corrected politely and expeditiously. I give their Customer Service high marks.
  • Instagram. No longer. They had it for well over 100 weeks and it was just monthly and annual returns. They appear to have moved to Telegram. Their official channel is C4W_Official. It does not appear interactive and is for their use to push out information, changes, events. They seem to use this and email to communicate with investors, as my emails match the Telegram information. There is also an unofficial Telegram channel in French, if you speak/read French. I can’t seem to link the Telegram Channel to this, but you can certainly find it. Just search C4W_Official. Inside, you can also access the Chat Bot.
  • TWITTER has been deleted. Beware, there is a suspended account from a knockoff poster, who uses crypto4winners. You can find where others post about them though. Here’s a dated TWITTER entry. I don’t speak French, but it appears related to a presentation.
  • I noticed on TWITTER that a bot documented on/around April 4, 2022, a crypto4winners.ENS was obtained. C4W confirmed that it was in fact their ENS Domain name. There is plenty they could do with an ENS, to include using it in the future with a digital crypto bank, which is on their home page road map.
  • Their roadmap said they had a bitcoin node. I located it c4w-bitcoin-full-node1.crypto4winners.com

The Crypto4Winners website says it is a brand of C4Wave Capital Limited Partnership (C4Wave) of Stockholm, Sweden, and C4Wave is “Registered as a Regulated Professional Trustee in accordance with the Money Laundering and Terrorist Financing Prevention Act 2017:630 (AML/CFT Compliance) with the Stockholm County Administrative Board as Supervisory Authority for AML/CFT purposes. Based on our trustee status and AML certification we are allowed to manage 3rd party funds and assets.” Registration 969795-4494 and LEI Code: 894500SNRN0CVD3YJ113.

The AML/CFT verbiage sounds like standard verbiage for legally registered entities.
I sought confirmation of the registration and LEI Code outside of C4Waves statement.

The United States Treasury, Office of Financial Research states:

A search to confirm the C4Wave filing shows the EQS Group AG, which specializes in regulations and compliance, is the LOU for C4Wave’s LEI. By such, the LOU has confirmed that C4Wave is a legal entity under its jurisdictional authority.

Crypto4Winners has a LinkedIn profile.

  • LinkedIn: C4W profile was fairly generic with a single press release similar to those on their website. The profile was also “viewed” by C4W Management and “liked” by people involved in related industries to include Cybersecurity Specialist, Global Procurement, Corporate Legal Officer, Big Wave Consulting 3.0, Marketing & Communications, CTO Web3 & Ethereum/Blockchain Advocate, and Crypto-Assets Management.

You need to spend time looking at LinkedIn. Who follows them? Is it a large following? If you see this, you'll see you can’t build a fake profile like this. There have been some privacy modifications, but regardless, if you dig you can find.

***I WOULD LIKE TO POINT OUT THAT THE NEXT SECTION HAS A NOTICEABLE CHANGE****

As I mentioned above, I wrote an article on Medium. Before posting it C4W requested I make various changes. I obtained their permission because it is needed in their referral program. The approval process took awhile. Along with the approval came several changes. These included that the TWITTER account was deleted (maybe because of the knockoff accounts), Instagram was deleted, and I noticed the U.S. based IRA provider, which was no longer affiliated with C4W, was no longer on the timeline. C4W also confirmed and provided their Official Telegram address (C4W_Official). They also reminded me that their KYC, which was also on the timeline, was active. Note: It’s a very intuitive app to upload your KYC docs and it was quite easy.

I also removed the identity of the C4W management that was present in my original post. I have done this for several reasons. C4W did ask me to remove it, but also, I decided it wasn’t necessary. With some additional research on past posts you can find what you are looking for. The world has gotten crazy. I look at how people reacted to LUNA…and WOW look at the comments about Celsius and Alex Machinsky. I’m angry about what happened as well, and I took a hit on Celsius. So, with this, I can understand a person’s privacy concerns. While what happened to customers on both of these platforms was terrible, the anger and potential for violence is unmeasurable based on the volumes of hostile comments. Someone even posted Machinsky’s home address the other day!

Some people may think that a lack of identity is nefarious. Some of that is expectations, especially as Americans. It is a basic piece of information that we as investors want to know before we entrust our money. And maybe I would have thought that originally, if I hadn’t made the identifications I have. After all, that is why I dug into C4W. I do know I know more about C4W than I do about some of these defi platforms and their developers, many who have scalped untold millions from investors. This poses a question. Do you know who your bank is? No, but your money is there. You’re not worried because of legislation and regulation. Well, that’s how I feel about C4Ws changes and its compliance within its jurisdiction, and current and pending crypto laws.

I would argue that at this point, while C4W may be new to you, it is no longer new. It has 3 years of successful operations since launching the BTC Pool in July 2019, transitions during its organic growth, and actively seeks ways to improve not only its mix, style, and performance, but the platform itself. Aside from many of the changes and updates mentioned above, seriously consider this. Above, I mentioned the LEI code. Take some time to understand how that works. This comes down to a 3rd part confirming that C4W is a lawfully registered and operating business in its respective jurisdiction. They know who C4W is. Look at the LEDGER white paper I referenced. LEDGER is a leader in cryptographic security and they wouldn’t have published this paper to the world without the work and relationship they have with C4W. Along this line, earlier I mentioned reviewing the “Security Explanation” on the C4W Home Page. While I don’t understand all of it; it does detail the technology/blockchain/security/smart contract stack that their platform and YOUR ASSETS operate on. This is why you need to read their explanation.

In my correspondence with C4W I commented that I felt they were applying a far more stringent application of European crypto laws to their platform than necessary. They said they sought a rigorous application of the current rules and rules to come. I’m good with that. This is what they provided on a recent Telegram Channel post/update:
We see a lot of recent discussion raising around C4W registration/status, general development, future developments, trading results etc.

Registration and License

1. C4Wave Capital KB is registered in Sweden as a Trust that can manage third party assets. It is subject to KYC and AML/CFT standards and must report to the regulator (FIU) any suspicious transactions and/or blacklisted persons. To date, the company does not have a specific approval / registration / license for cryptos as a VASP (virtual asset service provider) as this would imply being registered in every European country to be able to offer our services to residents of each country in question.

2. As stated from the start, we are preparing the registration to be fully compliant to the new MiCAR law (new general crypto EU law) and to be able to act in LPS throughout Europe. Not having the approval of a VASP in every European country, we are not allowed to communicate/promote Crypto4Winners as such as it is prohibited by law. Once registered & regulated according to the new MiCAR law, we will have multiple advantages like:

• Actively promoting our services in each European country,

• More safety for your assets as there is a fully regulated legal framework supported by all European countries,

• More transparency.

3. C4W has secured a trading licence in Dubai in order to push the growth of our customer base in the Emirates, we will send more information once the Dubai Hub is fully operational.

MEET US๐Ÿซถ๐Ÿผ

You ask, we listen!

As some of you do know, C4W is regularly attending expos around the Globe (like CryptoSquare in Brussels/Belgium, Blockchain Week in Brussels/Belgium, Dubai Crypto Expo2020 ect.) and we are actively planning end of 2022 and the year 2023, and we will give you the chance to meet up with our team, having a few drinks and exchanging information you are looking for, so please stay tuned as we will send out the listing of the expos once all are confirmed and you can book an appointment.”

So, because you are considering investing your hard earned assets…PLEASE don’t consider Reddit as a final research post, consider it merely a point. A place to start. Click my links. Confirm information. Read.

I’m sure I have missed something. Regardless, if you’ve found this useful and decide to sign up, and then invest, would appreciate your patronage by signing up through my referral link: however, it is not necessary…just go to the C4W home page.


The Path Ahead

EmeraldRockets(EROC) are moving forward steadily, like a glacier sculpting mountains. The movement is slow, but it's in the right direction and it's massive.

Over the past 100 days the number people holding EROC has more than doubled. This is important, as it moves EROC closer to qualifying as a listing on CoinMarketCap (CMC) and CoinGecko(CG). Etherscan pulls their price data from CMC and CG. Therefore, getting listed on CMC and CG is key for EROC's value to show on Etherscan.

Today Nomics.com listed EROC as the #61 largest crypto by market cap.

I'm not giving financial advice and this is just my personal opinion: but I believe getting listed on CMC and CG will generate massive new interest in EROC. This is because at its current price, EROC would list as one the top 54th largest crypto (by market cap) on Earth. This is impressive, considering the ownership is highly decentralized. Furthermore, the vast majority of EROC is owned by crypto whales, major celebrities and major exchanges. Therefore, I believe getting listed on CMC and CG will spark a chain reaction of massively positive events. I can't predict the exact timing for getting listed on CMC and CG, but I remain committed to making this happen.

If anyone has connections at CMC and CG to get us listed more quickly, then I encourage you to leverage those connections. The success of this project is not just based on my efforts. Like the success of Bitcoin or Ethereum, the success of the EROC is a function of all the owners' efforts.

I care deeply about EROC as if it were my own child. As a personal goal, I'd like to see it become listed on CMC and CG as one of the top 10 largest cryptos (by market capitalization) on the planet. Furthermore, the supply of EROC is limited unlike the United States Dollar (which has seen ridiculous inflation). I have HODLed the majority of my position since EROC first launched 17 months ago. I will continue to HODL the vast majority of my position, even if we surpass $50 USD per coin! For me it's not about the price. It's about becoming a top crypto.

I choose to HODL! And I hope you will enjoy the journey as we continue charging forward!!!


STX:LDN just dropped another youtube video! Link and description is in the text!

Kicking off with a brand new series, 'Insights' is a set of interviews with professionals working around the Bitcoin and cryptocurrency entrepreneurs and businesses, operating inside London and the UK.

With this series STX:LDN aims to focus on the culture and experiences of those working both frontline and behind the scenes in the industry within the UK.

Our first candidate is Mehmet Mehmet, Co-Founder of the DLT Hub (formerly DLT Lounge), a vibrant and crypto-focused work and event space based in the heart of London's corporate and trading landscape, Docklands and Canary Wharf.

In this interview, Mehmet explains the founder's humble beginnings and the reasons for setting up the hub.

https://www.youtube.com/watch?v=zY3f26WgatA

--

Location: DLT Hub - 3 Muirfield Cres, London E14 9SZ

Website: https://dltlounge.com/ (edited)


[Poll] Favourite Livery - Portland

For fun, lets have a weekly best paint scheme voting poll. Previous winning liveries (McLaughlin, O'Ward, Rosenqvist, Power, and Ilott) are excluded from the poll.

Rank up to your top 5 favorites in order. For example: 1, 2, 3, 4, 5


Link to Portland liveries


VOTE HERE


Race Winners

Event Driver Sponsor %
Gateway Grosjean NAPA 62%
Nashville Lundgaard Shield 63%
Indianapolis 2 Palou American Legion 80%
Iowa McLaughlin Freightliner 85%
Toronto Ilott Juncos 71%
Mid-Ohio Ericsson Ridgeline 63%
Road America Grosjean UniFirst 56%
Belle Isle O'Ward Arrow 56%
Indianapolis 500 McLaughlin Pennzoil 56%
Indianapolis 1 Montoya Lucas 57%
Barber Rosenqvist Vuse 62%
Long Beach McLaughlin Snap-On 58%
Texas Newgarden PPG Paint 61%
St. Petersburg Power Verizon 58%

Gateway Results

# Driver Sponsor H2H%
28 Grosjean NAPA 62%
3 McLaughlin Odyssey 38%

Nashville Results

# Driver Sponsor H2H%
30 Lundgaard Shield 63%
3 McLaughlin Dex Imaging 37%

Indianapolis Results

# Driver Sponsor H2H%
10 Palou American Legion 80%
15 Rahal One Cure 20%

Iowa Results

# Driver Sponsor H2H%
3 McLaughlin Freightliner 85%
48 Johnson Ganassi 15%

Toronto Results

# Driver Sponsor H2H%
77 Ilott Juncos 71%
4 Kellett K-Line 29%

Mid-Ohio Results

# Driver Sponsor H2H%
8 Ericsson Ridgeline 63%
10 Palou NTT Data 37%

Road America Results

# Driver Sponsor H2H%
28 Grosjean UniFirst 56%
10 Palou American Legion 44%

Belle Isle Results

# Driver Driver H2H%
5 O'Ward Arrow 56%
21 Veekay Bitcoin 44%

Indianapolis 500 Results

# Driver Sponsor H2H%
3 McLaughlin Pennzoil 56%
11 Hildebrand HFOT 44%

Indianapolis GP Results

# Driver Sponsor H2H%
6 Montoya Lucas 57%
5 O'Ward Arrow 43%

Barber Results

# Driver Sponsor H2H%
7 Rosenqvist Vuse 62%
77 Ilott Juncos 38%

Long Beach Results

# Driver Sponsor H2H%
3 McLaughlin Snap-On 58%
7 Rosenqvist Vuse 42%

Texas Results

# Driver Sponsor H2H%
2 Newgarden PPG Paint 61%
7 Rosenqvist Vuse 39%

St. Petersburg Results

# Driver Sponsor H2H%
12 Power Verizon 58%
7 Rosenqvist Vuse 42%


Today's Top #2: Arthur Hayes Says Ethereum PoW Is “Free Money” and Will Have No Users

tldr; BitMEX co-founder Arthur Hayes believes that efforts to preserve the PoW version of the Ethereum network after the “Merge” event will be largely unsuccessful. He argues that an Ethereum PoW chain will “have no users” and suffer the same fate as earlier Bitcoin forks. Hayes said he will try to sell PoW coins at a “very opportune time”

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

https://www.reddit.com/r/ethereum/comments/x9t4qc/arthur_hayes_says_ethereum_pow_is_free_money_and/