Bitcoin investment in EL SALVADOR
As of September 14th, Bitcoins investors have been legally given the status of being Tax exempt in EL Salvador is endeavoring to solicit foreign investors by offering major tax
breaks on Bitcoin trading. EL Salvodor has been announcing that it wants to make Bitcoin legal tender. They have been implementing a program to give Bitcoin to all their
citizens and as of present going forward they will exempt investors from paying a capital gains tax and income tax on their Bitcoin. A legal advisor to the President of El
Salvodor stated “If a person has assets in Bitcoin and makes high profits there will be no tax. This is done obviously to encourage foreign investment. And EL Salvador will
impose no taxes on either the capital increase or their income.” This is a lucrative opportunity for those who have the resources to pick up and leave and I’m curious to know
how many people from the U.S will take advantage of this tax exemption by relocating to EL Salvador.
LITECOIN
Recently Charlie Lee from Litecoin spoke about the tweet screw up which entailed an announcement that Walmart would be accepting Litecoin as a currency. This caused a rise
in Litecoin’s value to increase as hopeful investors looked to make a profit off of the partnership. Once the news came out that this partnership was not true, Charlie Lee denied
any knowledge of the origin of the announcement and stated he did not hold any responsibility for its release. This fake announcement ended up on major media channels such
as Reuters , CNBC, ETC. Shortly after Litecoin deleted the tweet and a big dump of Litecoin followed immediately causing the value of the cryptocurrency to drop. Charlie Lee
claims he woke up and knew nothing and he saw the report about a Walmart partnership and said “wow, that’s awesome!” Leading many to question his involvement with the
false announcement on twitter. Charlie Lee is the creator of Litecoin and it is somewhat unlikely that he would be unaware of any major partnerships taking place.
GOOGLE LABS PARTNERSHIP WITH DAPPER LABSGoogle
Cloud partners with Dapper Labs to improve scalability of the flow Blockchain. Google has involved themselves with crypto in the past , so this is not surprising. Google
cloud, a department of the world’s largest search engine, is uniting with Dapper Labs , a blockchain based company that developed the NBA Topshop MarketPlace , a project
that has seen much success. Google cloud will give Dapper Labs the support to help grow Dapper Labs Flow Blockchain. Google Cloud will use it’s cloud service as a network
operator in order to help grow Dapper Lab Flow Blockchain. Flow currently supports other popular applications. One such application is Cryptokitties. It has more than 2,000
developers on this project and Google cloud services will allow them to connect to Flow access Nodes at lower latency. Jen Kennedy the Vice President of Google cloud stated
“Blockchain technology is becoming more and more mainstream, so companies like Dapper need scalable secure infrastructure to grow their business and even more
importantly support their network.” Dapper titles itself as the NFT company. This news has caused it’s coin Topshot flow to rise in value