Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

Episode 223 - The fine art world ventures into crypto, Justin Sun milks Kobe's passing, and Dubai launches a Crypto Valley.

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February 01, 2020 5:22pm

48m

Hello everyone and welcome to this week's Flagship Friday (Saturday? Who knows at this point) where we go over the most important crypto news of the past week! This week we're talking about smART contracts (not a hard pun to figure out), Justin Sun being sort of a doofus, Dubai going full on tax haven mode on crypto, and much much more. Tune in now!


  • Rapid Fire
  • Taxact is charging more for your service if you click "I traded crypto" and it doesn't add any steps. Don't use them
  • If you make under 66k the IRS lets you file for free.
  • Blockchain.com Has Created A Crypto Gateway for the Turkish Lira (Decrypt)
  • Now they can convert lire to bitcoin, eth or tether without using a third party payment processor.
  • Cool Website Talking About If It's Alt Season
  • A season is three months, so we looked at the performance of all Top 50 Coins over the last 90 days. The more Altcoins are up against BTC, the higher the Altcoin Season Index. If 75% of all Altcoins are up against Bitcoin over the last 3 months, it's Altcoin Season!
  • And to spoil it for the listeners, no, no it is not alt season yet. The heat index is currently at a 51.
  • Hey Telegram, you're crypto is worth less than donuts (CoinTelegraph)
  • In the memo, the SEC included a few barbs against the instant messenger service. It called out Telegram for doing “a two-step around the registration provisions” and performing “sleight of hand” by fabricating the difference between a purchaser’s investment in Grams and their delivery of the Grams, which would allow them to withhold info normally in regulatory statements. Pavel Durov’s creation, the document contends, gave a “strawman” argument about “existence” since “Grams will never be tangible.” The SEC put the frosting on when it wrote:
“Telegram’s attempt to avoid this economic truth by labelling Grams ‘commodities’ also fails. Grams are not commodities. Unlike gold, comic books, and Krispy Kreme donuts — commodities Telegram compares to Grams — Grams have no intrinsic value.”