Is Your Computer Mining For Someone Else? | Bittrex Ban | Tax Friendly Germany

in cryptocurrency •  7 years ago 

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Bittrex bans North Korea/ Syria/Crimea/Iran/Cuba with their new terms of service announcement.

Sounds like another instance for the continued development of decentralized exchanges.

There has been yet another U.S. bill signed recently and like many of the others, this one is claiming to help prevent terrorism.
More specifically, according to this new bill in the case of cryptocurrencies, providing finance services like cryptocurrency exchanges to countries like North Korea, Syria, Iran, and the area of Crimea will be in violation.

To be fair, Bittrex is not the only exchange making these types of changes to their Terms of Use agreements, Poloniex, Bitfinex and other U.S. based exchanges I’m sure will be making the necessary changes in order to fall in line with the newly signed U.S. bill.
Unfortunately for citizens of Cuba, even though they are not listed specifically in the new bill, the U.S. still has a number of embargoes against it and I’m guessing that’s why Bittrex is playing it safe and eliminating them as users as well.

As I said earlier in this video, for those who dislike the fact that these exchanges are placing limitations on their respective user bases, might I remind you that decentralized exchanges do exist and are being improved upon every day. The way these function are much more in line with the core philosophies that initiated the creation of cryptocurrencies in the first place. No centralized authority, true peer-to-peer transactions.
I’ve created a number of videos that speak more on this matter so feel free to explore this channel and check those out.

Did you know that your computer could quite possibly be mining cryptocurrencies without your permission?

There are web browser widgets that are commonly used by a whole bunch of websites. These widgets can be pretty easy for a hacker to change a bit of the code that would enable your computer’s CPU or GPU output and use it to mine cryptocurrencies that would then be sent to the hackers wallet.
Although this isn’t exactly brand new news, here are some great tips you can use that will save your computer from these guys, firstly, don’t rely on adblockers as your only line of defense against in-browser mining,
There are a couple browser extensions you can use that block these javascript miners:

  • MinerBlock
  • No Coin
    and as always, avoid using public wifi when you can, but if you must use it, make sure to also be using a VPN.

If you’re looking for a country that won’t be taxing you for using cryptocurrencies as a means of payment, start heading to Germany.

The U.S. labels cryptocurrencies as property, and when a transaction occurs that involves property, a capital gains tax can be applied. However with Germany, when cryptocurrencies are used to pay for goods or services, a version of the VAT, or value added tax will be applied to the price of Bitcoin at the time of the transaction. Also, the act of converting cryptocurrencies to fiat or vice versa will not be taxed, and the same can be said for miners who receive block rewards.

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wow! really interesting topics all of them @heiditravels ! Specially the one related with germany... following the steps of Japan, it is a huge step forward for crypto.... I wonder if it has anything to do with a potential (and quite likely) crash of fiat currencies worldwide in the near future

news too positive for Germany. Trading with crypto on the ground is still very limited. We still just have only 1 exchange (bitcoin.de) that has a license. Still no BTMs anywhere. Czech Republic is more advanced than us in this point.

and it is hard to find a coffee shop owner who accepts crypto, Germans are still in favor of cash. But i found one in Leipzig. Check out my article!

https://steemit.com/dash/@crypto-guide/no-fiat-needed-1-night-out-with-only-dash-digital-cash-in-my-pocket-eng-ger

If someones battery is running out double as fast than normally, you should probably check your device if your mining. 👍

Bittrex is probably scared to death of what they've seen happen to other exchanges. I'm sure the current owners want to stay the current owners, and they want to prevent a forced buyout or SEC action taken against them.

There are also now no USDT/USD pair exchanges, correct? I could be mistaken, but it seems like real banking is being removed from all USDT trading exchanges, something a lot of people predicted would happen, but is now reality.

I'd be annoyed if I found out a mining tool was responsible for killing my fan.

I'm not too familiar with German tax law but that seems like much less of a paperwork nightmare than the US as far as trading goes, although I did read one European redditor's account of getting surprised by a tax bill that was upwards of 70% so I'm not too sure what to think. Maybe it was just their marginal tax rate from a large sale and the specific country they lived in tacks on a bunch of other taxes?

Be well, blog on!

If you're like me who hates installing more and more extensions by the day, you can use your current adblocker for protection against cryptojacking as well.

I had written about it here: https://steemit.com/cryptocurrency/@pqbd/cryptojacking-how-to-avoid-being-cryptojacked

The only caveat I'd say is that you have to keep updating the filters every once in a while.

Nice post beautiful presented and explained. detail oriented with nice information. thank you for sharing @heiditravels

Interesting, what else is in this new bill?

informative video thank you for sharing

Time to move to Germany

Cool Post. Since you got the bitcoin tag do you have a prediction for Bitcoin over the next few days? Also followed you for future posts :)

Excelente información gracias.. Saludos!!

Thank you very much for always informing us, what happens in the world of the cryptocurrency, I apologize if my English is not good, since I use the translator, I wanted to ask him, If in any way this news would affect Venezuela in the future not very far?.

I tell you that our computers were working very slowly and we just used their recommendations and it turns out that if they were trying to mine from here, thank you very much for your advice, greetings from Venezuela ...

Thanks for the information. The frickin' empire and their bills centered around fictitious boogeyman. It never stops!

  ·  7 years ago (edited)

As always, Germany is leading the fight against bureaucracy! ;) :)

Tax-free greetings from Berlin!

This whole thing with the government is trying to kill bitcoin but acting like they aren’t. Great post keep it coming.✌️👍👏👏👏👏👏

Great post as usual!!! Thanks for keeping the Crypto Community up to date.

Nice post. just added minerblock.thanks.

Heidi, how about a segment on gold, or silver backed cryptos, such as KBC?

Thanks for the video! Could you do one on "How to recognize a good mining deal for noobs" or something along those lines?

Yes, this is a great topic, one that I've been considering for a while now. I'll be posting this soon! :)

  ·  7 years ago (edited)

Germany is not taxing miners and people speculating on cryptocurrencies but only exchanges. This decision is based on an EU court ruling. Unfortunately the EU countries are not keeping a common line (as ussual). Belgium taxes cryptocurency profits with 33% tax. I wonder the EU court ruling does not apply to them?

it's great news cause I can's sign up in bittrex anymore