Art Staff Inc, from Adweek Portfolio (1988)
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Let's get back to Black Mesa!!!
MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 16,130 BTC at a total cost of $593.3 million, Founder & Chairman Michael Saylor announced today. The purchase came as Bitcoin’s price has been experiencing upward momentum, reaching a recent yearly high of over $38,300. The company initially entered…
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Electronic Money Association members such as Revolut, PayPal and other companies are asking for more time before implementing the Markets in Crypto-Assets (MiCA) Regulations. Fintech organizations using cryptocurrencies are reportedly calling on European institutions to give them additional time so they can prepare to comply with the new rules. Representatives of Revolut, PayPal and other companies directly contacted the EU Ministry of Finance with a request to extend the transition period. They recalled that the new MiCA rules will apply to all countries of the Union starting in December 2024, however, some countries may shorten these deadlines. According to payment institution leaders, there may not be enough time to prepare to comply with all laws. The European institutions provide a maximum transition period for compliance with MiCA of 18 months. However, it is subject to change at the discretion of individual countries, which Revolut and PayPal do not agree with. They ask that all EU members agree on a maximum period of 18 months. Otherwise, companies will have to suspend operations in individual states for indefinite periods, which will negatively affect business. Ireland has already stated that it agrees to follow the 18-month transition period for cryptocurrency providers (CASP). Major crypto companies currently have offices in the country, including Gemini, Coinbase and Binance, which will require regulatory approvals under MiCA. As for France, the regulator Autorité des Marchés Financiers (AMF) is considering launching an “extended” registration of digital asset service providers, the DASP. The new rules will come into force in the country on January 1, 2024. In addition, the authorities also want to harmonize the licensing requirements for the European Authorization of Crypto Asset Service Providers (CASP) regulations. Read the full article
5 March 2023, Sunday.
I practiced more questions from taxation today. I'm a little behind on my unit test schedule, but I think I'll be able to bring it back on track by this weekend.
It's interesting to attempt questions from tax, and I have pretty decent conceptual clarity, but making sense of the madness and not missing out on any calculation is such tedious work.
-G
Bitcoin can only process about seven transactions per second. (Visa does something like 1,700 per second, and claims they are capable of 24,000.) Having so many different miners in the system race to verify the same transaction creates a gigantic amount of wasted time and energy. And, as transaction chains get longer and the networks get bigger, verifying transactions gets more difficult, which has led to an arms race for processing power. Bitcoin miners are partly responsible for the computer-chip shortage that has made it difficult to get new cars, computers, and PlayStations. By one calculation, Bitcoin consumes more electricity than Finland. An individual transaction produces about half a ton of carbon dioxide. Bitcoin has probably undone all the reductions in greenhouse-gas emissions produced by the adoption of electric vehicles.