Who Will Become The World’s Crypto Capital? Miami Vs New York

When Blockchain.com was looking for a new home for its U.S. headquarters, it decided to leave New York and move to downtown Miami.

“New York is a great city,” says Peter Smith, the cryptocurrency company’s co-founder and CEO. “But Miami was an easy choice for us.”

Miami’s vibrant nightlife and warmer weather were certainly a draw, but according to Smith, the decision ultimately came down to the city being better aligned with his company’s goals.

“It’s the gateway to Latin America,” he says. “It’s on the East Coast time zone. And more importantly, it’s probably the most excited city in the world about crypto right now.”

Cryptocurrencies are seen by many as the future of finance, and Miami is aggressively angling to become the world’s crypto capital – in a direct threat to New York’s status as the country’s financial hub, threatening New York’s dominance in finance.

Smith credits Mayor Francis Suarez with raising the city’s profile. During his first term, Suarez has gone all in on Bitcoin and blockchain, the technology that underpins it.

Today, Miami has its own cryptocurrency, called MiamiCoin, and last year, it hosted one of the world’s largest digital currency conferences.

“Crypto is incredibly important to the future of the city, and to how we are positioning ourselves right now,” Suarez told NPR in a recent interview. “We really have created the epicenter for crypto.”

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3 Reasons Why Investing In Las Vegas In 2022 Is Your Best Bet: Crypto, Sports, And Real Estate

When I first heard of this adult-themed entertainment mecca I was a young child. The first images that I had seen were of showgirls in their extravagant headdresses, wearing rhinestones or sequin bikini-themed outfits. On television, their choreographed, in sync movements were classy. It drew you in, and even if you weren’t technically as rich as you looked on vacation, being entertained in that way sure did make you feel wealthy.

I grew to associate Las Vegas with making money. Many think of gambling, slot machines in particular. Aka losing money. Let’s not forget, gentlemen clubs. Giving away money. If these are things that you enjoy, so be it, live it up. But as a young teen, I then knew the probability of me getting rich from a slot machine or learning how to play poker and becoming a champion was slim to none.

I fantasized about having a piece of the pie. My thoughts of Las Vegas’ riches were composed of what it would be like to own a casino. Upon moving to Las Vegas, curiosity struck me and I Googled, “How much is Las Vegas worth?” I laugh now at the fact I thought there would be a direct answer as though there aren’t hundreds of thousands of enterprises connected to the city domestically, and globally.

Growing up in the largest economic state in the United States, California, you can’t criticize me too much for asking the internet such a question. See, my decision to move to Las Vegas wasn’t based on the televised images. Before moving I had been attending Oakland City Hall housing development and cannabis town hall meetings. Upon doing so, I learned much of what citizens were voting on had pretty much been decided years prior. Confirmation that it was then time for me to go.

Not knowing where I wanted to move to in the United States, I made an excel spreadsheet with a list of cities. I compared everything, from the weather, natural disasters, educational systems, pay rates, neighborhoods, racial demographics and anything else I felt was critical to know. I was leaving my sunny California beaches, and forest hiking trails. The waterfalls. The entertainment. The food. The diversity. Wherever I moved had to be worth it.

Las Vegas won. It was decided that I would migrate to Sin City. There was something about the city and its potential that was underway. And, many of my enjoyments could be found within the city or on a nice road trip to a neighboring state.

Let’s Get Into It: Las Vegas Loves Crypto

Fast forward and here were are in the city which is home to the $4.3 billion Resorts World Las Vegas which is also the most crypto-friendly resort around. Even the gentlemen’s clubs here have the understanding that digital money is the way of the future. Making it rain in binary. Bitcoin ATMs can be found in luxury shopping centers such as Trivoli Village, as well as common stores like cell phone repair shops.

Which Sports Game Are You Attending?

Home of the Vegas Golden Knights hockey team, and more recently with the completion of the Allegiant Stadium, now the Raiders NFL team. Las Vegas is no stranger to sports, as there are many genres of athletic teams here. But it’s the popular teams that make the news right? The A’s baseball team is reportedly eyeing the Tropicana hotel property for a possible Strip ballpark. Back in October Adam Silver stated that Las Vegas was on the consideration location list for the NBA expanding. That’s hockey, football, baseball, and potentially basketball all in one city. A guy (or girls) sports entertainment dream come true.

Home Is Where The Heat Is

Real estate is hot and with the increase of all-cash deals, The Treasury Department has included Las Vegas on the list of states it wants to monitor the transactions of. This is very significant because it shows economic growth in the city without the need for some to take out mortgage loans for their purchases. Las Vegas realtor Sonja Hanna keeps buyers informed via social media and her reports have shown the market isn’t slowing down. The top-rated entrepreneur’s website is SonjaSellsLasVegasHomes.com and can be reached at 702-425-3587.

Las Vegas has evolved from being a destination for retirement, and vacation gambling city to one of the most exclusive places to live in the United States. If you live here already now is the time to take advantage of the existing and developing opportunities. If you are considering moving here get ready for what all the financially smart and biggest entertainment city in the world has to offer.

Article By K. Crystal Carter

– K. Crystal Carter is a cryptocurrency and blockchain enthusiast who is originally from Oakland, California. She has 7.5 years of experience in the financial industry, and 6 years of being a cannabis hydroponics grow director and cannabis advocate at local City Hall meetings. She currently resides in Las Vegas as one of the lead Earthy Realist team members.


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Crowdfunding Platform Kickstarter Moving To Blockchain

For more than a decade, Kickstarter PBC has convinced the public to pay people to follow through on their ideas to build a gadget, make a film or create a piece of art. It was, in some ways, a harbinger of today’s digital economy built around cryptocurrencies, decentralized organizations and NFT art.

On Wednesday, Kickstarter plans to unveil a project that will merge the two worlds. It’s hatching a standalone company to build a crowdfunding system much like Kickstarter’s but based on blockchain technology. When it’s ready, Kickstarter will switch its own website to the new infrastructure, and the new company will make the tools available for anyone to create a competing crowdfunding site.

The new company does not yet have a name. Development is slated to begin in the first quarter of next year, and Kickstarter expects to transition its site to the new protocol sometime in 2022. The change will take place entirely behind the scenes and shouldn’t affect how people use the site, the New York-based company said.

It’s a large, technical undertaking. Embarking on the project was a “big decision,” said co-founder Perry Chen, but it was ultimately an easy one to make because it fits with Kickstarter’s mission, which is “to help bring creative projects to life.”

Chen started Kickstarter with a pair of art-loving friends in 2009, and it was a near-instant hit with cash-strapped go-getters and eventually with celebrities and big companies looking to test consumer demand. The Peloton stationary bike started with a Kickstarter campaign ($307,332 raised), and so did the Oculus VR headset ($2.4 million). Kickstarter helped finance new records from Amanda Palmer ($1.2 million) and the pop group TLC ($430,000) and revived cult classic TV shows like Mystery Science Theater 3000 ($5.8 million) and Veronica Mars ($5.7 million).

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What Crypto Investors Need To Know About The New Tax Reporting Requirements

Reporting your cryptocurrency trades to the Internal Revenue Service will no longer be based on an honor system. Starting with tax year 2023, any of your potentially taxable digital asset transactions will be reported to the agency by an outside party. If you’ve ever held a job or invested in stocks, you know the money you make is reported to the federal government. That’s because you and the IRS get a W-2 form from your employer that reports your annual earnings and a Form 1099 from your broker that reports your stock transactions.Until now, however, there have been no comparable third-party reporting requirements in place for cryptocurrency trades and transfers — or for any other digital assets, such as NFTs.

But the recently passed infrastructure law includes provisions requiring crypto industry players that broker digital asset transactions to issue 1099-Bs for their customers’ accounts, which you will first receive in early 2024 to reflect your 2023 transactions.

And in a bid to make it harder to launder money, the new law also requires a business to report to the IRS whenever it receives more than $10,000 of cryptocurrency in a single transaction (or in two or more related transactions), just as it must when it receives cash above that threshold. Willfully failing to do so can be prosecuted as a federal felony.

These new reporting requirements will affect investors trading digital assets in a few ways.

You Can’t Stay Anonymous

The new reporting requirements represent a potential upside for crypto investors in two ways: They’re a sign that crypto is here to stay. And given the headache of trying to keep track of all your transactions, getting a 1099 may prove helpful. But the downside will be a loss of anonymity for those who want to keep their transactions private on principal, or who have not met their tax obligations.

When you open a bank or brokerage account, you have to provide a lot of personal information that gets cross-checked to confirm you are who you say you are. You have to provide your legal name, address, phone number and a Social Security number or other taxpayer identification number, among other things.But when you set up crypto-related accounts, the information you’re asked to give varies by platform.”Until this year, it was pretty common you could open [an account or digital wallet] with a name and email,” said Erin Fennimore, head of information reporting at TaxBit, a cryptocurrency tax software provider.Come 2023, that will change in many instances. “You’re going to be asked for personal information that you most likely have not been asked for in the past,” Fennimore said.And the platforms required to report on your transactions will have to verify that you are who you say you are. In addition, when a digital asset is transferred from one broker to another, the transferring broker will have to issue a statement to the receiving broker that includes basis and holding period information on the transferred asset so the receiving broker can satisfy its 1099 reporting requirements.

What Are Reportable Events?

Not every crypto transaction will require third-party reporting because not every crypto transaction is a taxable event.

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The Future Of The Dollar And The Crypto Revolution

A new type of money is here to stay. That currency is called crypto.

There are so many changes that are occurring for the betterment of our country. And, the global monetary community.

It’s important to remember that what’s happening in the crypto world is being created for generations to come.

True innovation.

Therefore, do your part as an investor and learn as much as possible about the changes occurring so that you won’t be left behind.

Sincerely,
K. Crystal Carter
EarthyRealist.com


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