Page 2,831«..1020..2,8302,8312,8322,833..2,8402,850..»

Does alcohol have a place in a healthy lifestyle? – Walla Walla Union-Bulletin

Humans have been consuming alcohol for nearly 13,000 years. Archaeological evidence points to the brewing of ancient beer predating the baking of ancient breads and maybe responsible for sparking the agricultural revolution in early civilizations.

Beer, wine and spirits have traveled with humans across the globe and even caught a ride into space. Alcohol consumption has been ingrained into most human cultures, which includes the approximate 50% of American adults who drink at least one day per month.

The U.S. Department of Agriculture and U.S. Health and Human Services released Dietary Guidelines for Americans in its 2020-2025 edition. As defined by the report, moderate alcohol consumption is two drinks per day for adult males and one drink per day for adult females. One drink is equivalent to 12 ounces beer (5% alcohol by volume, 150 kcals), 8 ounces of wine (12% ABV, 120 kcals), 1.5 oz distilled alcohol (40% ABV, 100 kcals).

Keep in mind the guidelines suggest moderate consumption does not significantly increase risk to health effects, but higher than moderate (two for males/one for females) does increase the risk for health effects if consumers make a habit of over-drinking. Short-term effects of alcohol reduce deep sleep and disrupt digestion, causing tiredness and bloating.

This may seem commonsense to most but alcohol and weight loss do not work well together. At seven calories per gram, some nutrition scientists consider alcohol the fourth macronutrient, the others being fats, carbohydrates and protein.

When alcohol enters the digestive system it becomes a priority. Alcohol is considered a toxin and bodies will prioritize the burning of calories brought in from alcohol. Alcohol will be used as a fuel source while it is in the body altering how much other macronutrients are being used as fuel sources. The more one consumes the longer the disruption will last.

Frequency of consumption will affect digestion as well. If trying to lose weight, alcohol consumption should not be in your diet.

Finally, binge drinking, which is classified as four for females and five for males or more drinks in less than two hours per the CDC. One in six adults will binge drink one day a week, consisting of about seven drinks on average, four times per month, per CDC.

Saving all or most of your drinks for Friday night is not a way to be considered moderate. There are 52 weekends in a year. Not every weekend needs to be celebrated like New Years Eve. Moderation! Moderation! Moderation!

A moderately active, 5-foot 10-inch, 200-pound, 40-year-old male who is trying to maintain weight is projected to need 2,800 calories a day; a 40-year-old female at 5 foot 4 inches and 170 pounds who is moderately active needs 2,100 calories to maintain weight.

Making room for the potential 100- to 300-plus extra calories consumed with one or two drinks is something that needs to be considered on a day if you are drinking.

Alcohol has been a part of the human story and will continue to be. You can drink moderately and still live a healthy life. Keeping in mind the more you consume the more risk you assume to your long-term health.

Plan ahead if you plan to drink, make meal plans with lower calories and remove other indulgences.

Have an honest conversation with your doctor about your risk factors and medications that dont mix with alcohol. Seek professional help if you or somebody close to you seems to be struggling with over consumption of alcohol.

Josh Klingenberg is assistant wellness director at the Walla Walla YMCA. He has is a National Strength and Conditioning Association personal trainer and is functional movement systems-certified and certified functional strength coach.

Follow this link:
Does alcohol have a place in a healthy lifestyle? - Walla Walla Union-Bulletin

Read More..

Dannals, Fisher, and Kyung Receive 2021 Tuck Teaching Excellence Awards – Tuck School

by Kirk KardashianJun 21, 2021

The Tuck Class of 2021 has announced this years recipients of the annual Teaching Excellence Awards.

For teaching in the core curriculum, students chose Assistant Professor of Business Administration Jennifer Dannals, who co-teaches the Managing People course with ProfessorDaniel Feiler. In the elective curriculum, students for the first time selected two faculty members, due to a combination of the vote totals, extensive praise for both faculty members, and the unprecedented nature of the remote and hybrid learning environment, says Caleb Dorfman T21, the academic representative for his class. They chose clinical professor Peter Fisher, who teaches The Arrhythmia of Finance, and Associate Professor Ellie Kyung, for her teaching in the research-to-practice seminar Time in the Consumer Mind.

The Teaching Excellence Awards were set up by the Class of 2011 to celebrate the learning environment at Tuck by honoring the faculty who, in the eyes of their students, have made an outstanding contribution to the quality of the educational experience. Each year, an academic representative from the graduating class surveys his or her classmates about their favorite teachers and meets with a committee to examine the comments and data and select the winners.

Our course tries to point out those natural biases towards certain behaviors and then gives some structure to thinking about when theyre acceptable and when you should go in a different direction.JENNIFER DANNALS

Jennifer Dannals, who was named onPoets & Quants' best 40-under-40 professors listlast year, has been at Tuck since 2018. She and fellow professor Dan Feiler designed Managing People two years ago, as part of the core curriculum review. It starts in Tuck Launch and continues through the Summer Term.

A lot of our natural human tendencies for managing and interacting with others in a workplace can be maladaptive, Dannals says. Our course tries to point out those natural biases towards certain behaviors and then gives some structure to thinking about when theyre acceptable and when you should go in a different direction. For example, Dannals explains, were naturally conflict-averse, but sometimes conflict is necessary or even good for a team. Also, were naturally more likely to attribute outcomes to someones personality or fixed characteristics, so we dont appreciate the situational factors involved. These over-arching themes cover many sessions, including motivation, decision-making and gender and racial biases.

The Class of 2021 completed Managing People in the fall of 2020. Here are a few of their comments about Dannals teaching:

Peter Fisher came to Tuck in 2013, after a career that took him from the Federal Reserve Bank of New York to the U.S. Treasury and to BlackRock. In that time, he hired and mentored many MBAs and found that they rarely came equipped to read a balance sheet and to understand what he calls the deeper meaning of double-entry bookkeeping. The Arrhythmia of Finance is the course he designed to fill in those gaps which, as the syllabus explains, aims to provide you with the opportunity to develop and practice analytic skills (principally non-quantitative) that can help you better understand the sources of volatility in financial asset prices: why the heartbeat of finance appears to be irregular. Fisher breathes life into that question through class sessions such as What is the role of chance in your lifeand in history, Why do you think that?, What is money and who says so?, What makes capitalism go? and readings that range from Tolstoy and Kahneman to Keynes and Warren Buffet. A friend recently observed that he was teaching completeness, and Fisher agrees. To understand the subtleties of risk and money, Fisher invokes a range of disciplines: accounting, economics, corporate finance, business strategy, epistemology and probability, just to name a few.

This is the course I imagined I would teach, Fisher says, but it took me a few years to get it into the zip code that I wanted. The students have been both helpful and wonderful. I have learned a great deal.

Here are some comments from Fishers students, who took the course last fall:

From the very first session of Ellie Kyungs course Time in the Consumer Mind, Kyung aims to disabuse students of the notion that time is just an objective number they might see expressed as the exponent t in an equation. There are so many psychological mechanisms in how we think about time, including how its subjective, how it affects your decision-making, and how you use it as a resource, Kyung says. Kyung leads the students through this theme with sessions on avoiding regret, intertemporal choice and temporal discounting, mental accounting, priming, and times role in their own life goals, among others.

Its a nice opportunity for students to see what it is we do as researchers and really dive into one topic and introduce them to a new way of thinking. I want them to be constructive skeptics.ELLIE KYUNG

The research-to-practice (RTP) seminar is the perfect format to explore these ideas, because the class size is small (14 or so) and each session is three hours, allowing plenty of time for deep conversations and reflection. A central component of RTPsthere are roughly 10 of them offered at Tuckis to teach students about the knowledge creation process by way of reading academic papers. The objective is not just to develop knowledge about the subject area, but also to discuss experimental design, data collection, and empirical evidence. Students have to want to dive in and read these papers and engage, Kyung says. Its a nice opportunity for students to see what it is we do as researchers and really dive into one topic and introduce them to a new way of thinking.

Beyond the implications of the subjective nature of time, Kyung hopes to teach her students to see the limitations and possibilities of data. As managers, students will one day have to make business decisions with imperfect information. They could reject and criticize that information, but the better approach, Kyung says, is to determine what conclusions they can draw from the evidence they have, and then to figure out what additional data they might need to make a better decision. I want them to be constructive skeptics, she says.

According to Kyung, it is really the Tuck students who make a class like this possible. It is not easy to learn to read, let alone discuss in depth, academic papers in just one quarter. This years students had to be flexible with a hybrid format. In spite of the challenges that this year posed, everyone was willing to really dig in. It was an amazing experience for me to have that time with them. What I will miss when I leave Tuck is, without question, the students, she says.

Kyung taught Time in the Consumer Mind last winter. Here are some comments from her students:

See the original post here:
Dannals, Fisher, and Kyung Receive 2021 Tuck Teaching Excellence Awards - Tuck School

Read More..

Bitcoin Price Drop: The Death Cross Comes for the Cryptocurrency. – Barron’s

Photo illustration by Edward Smith/Getty Images Getty Images

Text size

Bitcoin had a rocky weekend. Blame hash rates and death crosses.

Since Friday, Bitcoin has dropped about $3,000, or almost 9%, to about $32,500. Bitcoin traded below that level on June 9, but it hasnt closed below $33,000 since January.

China is problem number one. The hash rate, which is essentially the amount of computing power being used to mine Bitcoin, is falling as China cracks down on miners. China wants the electricity for other stuff. China accounts for a majority of the worlds Bitcoin hashing.

Less mining, of course, means fewer coins, and fewer coins could be a good thing for pricing in the long run. But for now, the specter of government interference outweighs supply/demand considerations.

Newsletter Sign-up

A morning briefing on what you need to knowin the day ahead, including exclusive commentary fromBarron's and MarketWatch writers.

Bitcoins tumble created a trading pattern on Saturday that market technicians call a death cross. That means Bitcoins 50-day moving average dropped below the 200-day moving average. A death cross can signal that buying momentum is coming out of a stock, a market, or a cryptocurrency.

With Mondays declines, Bitcoin is down about 50% from its April 52-week high of almost $65,000.

What comes next is, frankly, anyones guess. Bitcoin is volatile and the lack of fundamentals makes it difficult to predict what comes next.

We wont even try, except to say buckle up.

Al Root

*** Join Barrons at noon on Tuesday as corporate and philanthropic leaders examine initiatives to narrow the wealth gap. Viewers will hear from executives of the Ford Foundation, BofA Securities, and Exelon. Register here.

Amazon.coms Prime Day runs today through Tuesday, with 2 million deals for Amazon Prime shoppers in 20 countries, but postponed in Canada and India. Its the first time the event is held in June. Last years Prime Day in October jump-started holiday shopping.

Whats Next: The success of Prime Days has led Amazons rivals to offer membership-free promotions such as Walmarts Deals for Days (through Wednesday), Targets Deal Days (through Tuesday), and Best Buys Bigger Deals (through Tuesday).

Eric J. Savitz and Janet H. Cho

On Sunday, Virginia became the 16th state, plus the District of Columbia and Guam, to reach President Joe Bidens goal of vaccinating 70% of adults with at least one shot. Overall, 65.4% of American adults are partially vaccinated, per the Centers for Disease Control and Prevention.

Whats Next: Israels Health Ministry on Sunday ordered that all attendees of a performance last week must quarantine for 14 days, even people who are vaccinated or have recovered from Covid-19, after recent outbreaks of the Delta variant there. Israel lifted all its coronavirus restrictions on June 1.

Janet H. Cho

FTSE Russell will rebalance its U.S. stock indexes after the market closes this Friday, an annual exercise that affects benchmarks tied to $10.6 trillion of investor assets, according to Bloomberg, and a potential boost to the stocks that caught the attention of retail traders this year.

Whats Next: Three times as much money is invested in passive funds tracking the Russell 1000 indexes, which include giant companies like Apple and Microsoft, as those tracking the Russell 2000 indexes. Historically, stocks that moved from the smaller cap 2000 to the large-cap 1000 lag behind their old index over the next year.

Liz Moyer

Goldman Sachs said Monday it would launch transaction banking activity in Britain, offering cash management and treasury services to business clients, in a bid to grow its presence and diversify its activities in the country.

Whats Next: Brexit notwithstanding, U.S. investment banking giants seem to think that the U.K. market still offers serious growth opportunities, if only as a base for further European expansion.

Pierre Brianon

Shares of British retail group Morrisons shot up more than 30% Monday after the group said it had rejected a bid by U.S. private equity firm Clayton, Dubilier & Rice that would value the companys equity at 5.52 billion.

Whats Next: Morrisons management team does not seem hostile in principle to a sale. Under U.K. takeover rules, Clayton, Dubilier Rice now has until July 17 to put forward a firm offer.

Pierre Brianon

Child tax credit payments are startingwhen does it make financial sense to opt out of getting this money?

A MarketWatch correspondent will answer this question soon. In the meantime, send any questions you would like answered to thebarronsdaily@barrons.com.

Newsletter edited by Liz Moyer, Matt Bemer, Ben Levisohn

Read the original:
Bitcoin Price Drop: The Death Cross Comes for the Cryptocurrency. - Barron's

Read More..

Cryptocurrency Prices on June 22: Bitcoin hits two-week low; Dogecoin plunges 25% – CNBCTV18

Cryptocurrency

Updated : June 22, 2021 08:36 AM IST

The cryptocurrency market turned bearish on Monday after China asked several banks and payment firms to ramp up their crypto trading crackdown. Bitcoin tumbled nearly 10 percent on Monday Tuesday as low as $31,333, a two-week trough, dragging down other cryptocurrencies. Here are the prices of the ten largest cryptocurrencies, data sourced from CoinMarketCap (as of 8:30 IST):

1. Bitcoin: $32,816, 24-hour change: -6.57 percent, 7-day change: -18.98 percent

2. Ether: $1,962, 24-hour change: -10.41 percent, 7-day change: -25.08 percent

3. Tether: $1.00, 24-hour change: -0.05 percent, 7-day change: 0.00 percent

4. Binance Coin: $285, 24-hour change: -14.28 percent, 7-day change: -23.85 percent

5. Cardano: $1.24, 24-hour change: -10.90 percent, 7-day change: -22.37 percent

6. XRP: $0.6368, 24-hour change: -14.07 percent, 7-day change: -28.59 percent

7. Dogecoin: $0.2062, 24-hour change: -23.34 percent, 7-day change: -37.22 percent

8. USD Coin: $1, 24-hour change: -0.08 percent, 7-day change: 0.00 percent

9. Polkadot: $16.65, 24-hour change: -16.82 percent, 7-day change: -32.74 percent

10. Binance USD: $1, 24-hour change: -0.06 percent, 7-day change: 0.02 percent

Published : June 22, 2021 08:36 AM IST

See more here:
Cryptocurrency Prices on June 22: Bitcoin hits two-week low; Dogecoin plunges 25% - CNBCTV18

Read More..

Should You Invest Your 401(k) in Cryptocurrency? – The Motley Fool

Cryptocurrency has taken the world by storm over the past few months, and it could soon be coming to your 401(k).

ForUsAll, a 401(k) plan provider, has teamed up with cryptocurrency exchange Coinbase Global (NASDAQ:COIN) to allow investors to allocate up to 5% of their 401(k) contributions toward cryptocurrency, as reported recently by The Wall Street Journal.

Four hundred employers offer 401(k) plans through ForUsAll, and if yours is one of them, you could have the opportunity to start investing in cryptocurrencies simply by contributing to your 401(k).

Image source: Getty Images.

This partnership will make it much easier to invest in cryptocurrencies. Typically, that involves buying your currency of choice through a crypto exchange -- not a normal stock exchange. You would also need to keep your cryptocurrency tokens stored in a digital wallet rather than a typical brokerage account like you would when investing in stocks.

If you're able to invest in cryptocurrency through your 401(k), however, it's much more accessible. But is it a smart investment? Here's what you need to know.

Cryptocurrency may be the hottest new trend in the investing world, but that doesn't mean it's safe. It has proved that it can be incredibly volatile and subject to steep falls at the drop of a hat.

Case in point: Since its peak in mid-April, the price of Bitcoin (CRYPTO:BTC) has plummeted by nearly 40%. That's not the worst Bitcoin has seen, though; it's fallen by more than 80% on several occasions over the years.

And Bitcoin isn't the only cryptocurrency subject to volatility. Ether (CRYPTO:ETH), the second most popular cryptocurrency behind Bitcoin, lost nearly 94% of its value back in 2018. And Dogecoin (CRYPTO:DOGE) saw its price drop by more than 40% in the span of just two weeks last month.

All investments can be volatile at times, but cryptocurrency is far more turbulent than the average stock. If you're preparing for retirement, that type of volatility can be unsettling.

Also, cryptocurrency is still highly speculative. Unlike stocks, which have provided consistent growth over the long run, nobody knows what the future has in store for crypto. It could end up transforming the world's currency systems, or it could crash and burn. And if it fails, you could lose all the money you've invested.

This isn't to say that cryptocurrency is a bad investment. But whether or not you choose to invest depends on your timeline and your tolerance for risk.

If you have money to spare and plenty of time before you retire, investing in crypto might not necessarily be a bad move. Just make sure the rest of your savings are behind strong investments so you don't lose everything if cryptocurrency doesn't work out.

In addition, if you choose to invest in cryptocurrency, only invest money you would be comfortable losing. Because it's such a high-risk investment, you don't want to bank your retirement on it and potentially jeopardize your financial future.

On the other hand, if you're close to retirement and can't afford to take a chance with your savings, it's probably best to avoid cryptocurrency for now. Similarly, if you're a risk-averse investor and you know that you'd lose sleep if crypto prices crash again (which they very likely will at some point), then it may not be right for you.

Regardless of whether you contribute a portion of your 401(k) savings toward cryptocurrency or not, make sure you're taking the decision seriously. Crypto isn't right for everyone, and for some people, there are much better investments out there.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Read more from the original source:
Should You Invest Your 401(k) in Cryptocurrency? - The Motley Fool

Read More..

Cryptocurrency Latest News Today: Bitcoin tests 25 lakh-mark; Ethereum, Polka Dot, Dogecoin trade in red to… – Zee Business

Cryptocurrencies have extended their negative trade beyond weekend and have been trading lower on Monday. Bitcoin, number 1 cryptocurrency, was down more than 7 per cent and was trading at Rs 25,80,029 after scaling Rs 27,78,966 as its day's high. Overall crypto market was down by 8.52 % on Monday at 12.30 pm showed CoinSwitch Kuber data.Meanwhile, other top and famous cryptocurrencies, including Ethereum, Polka Dot, Dogecoin and Shiba Inu also did not fare well on investors' expectations.

See Zee Business Live TV Streaming Below:

Ethereum, Polka Dot, Dogecoin were down 8.43 per cent, 10.33 per cent and 9.09 per cent respectively on Monday.

Ranked 3 in global rankings, Tether was trading marginally in green at Rs 78.6421, up 0.07%.

Meme Coin Shiba Inu was trading for Rs 0.000578, down 2.20 per cent.

Meanwhile, in news related to cryptocurrencies last week, Space X and Tesla CEO Elon Musk woke up to a 'pleasant' surprise on Father's Day on June 20. Dogecoin holders flooded him with Happy Father's Day wishes for being 'Dogefather', expecting him to boost cryptocurrency price.

Happy Fathers Day, Dogefather pic.twitter.com/Zwp4XENdId

Shibetoshi Nakamoto (@BillyM2k) June 20, 2021

In another news related to cryptocurrency, Fred Ehrsam, Co-Founder of cryptocurrency exchange Coinbase said that 90 percent of the NFTs (non-fungible tokens) will be of no worth in the next three to five years, reported Bloomberg.

Happy Fathers Day to the Dogefather pic.twitter.com/EmtrKGC660

The Chairman (@WSBChairman) June 20, 2021

Ehrsam, however, was bullish on meme crypto Dogecoin and said one should dismiss Elon Musk-backed coin, "If crypto has taught us anything, it's never to dismiss a good meme that couldn't later manifest into more concrete progress," he told Bloomberg.

In India, RBI continues to maintain reservations on trading in cryptocurrencies. RBI Governor Shaktikanta Das said the Reserve Bank's view on cryptocurrencies like Bitcoin remains unchanged and it continues to have major concerns on the volatile instruments. There is no change in RBIs position (on cryptocurrencies). Our circular clarifies the position very well, RBI Governor had said earlier.

See more here:
Cryptocurrency Latest News Today: Bitcoin tests 25 lakh-mark; Ethereum, Polka Dot, Dogecoin trade in red to... - Zee Business

Read More..

Cryptocurrency Update: Comparing the Growth of Top Performers in June, 2021 – Analytics Insight

Lets analyze the performance of these promising cryptocurrencies

June is becoming rather exciting for the cryptocurrency market. Elon Musks recent tweet about possibly accepting Bitcoins again as a mode of payment for his company Tesla made the market glee with joy. Bearing all greens, crypto investors are enjoying a sigh of relief seeing their investments blink in green. While this is not the most amazing bullish streak ever, after a tough week for the market, Bitcoin has rallied up to reach a mark thats closer to its all-time high of US$60,000.

If you want to invest in cryptocurrency, this week in June, here are the five best performing cryptocurrencies and their growth patterns compared to each other. Also, heres a guide to help you get started.

As of June 15, Bitcoins 24-hour chart looks like a mountain range Bitcoin investors will appreciate. After another week of price fluctuations, Bitcoins price reached the US$40,000 mark thanks to a tweet by Elon Musk. Tesla CEO tweeted about the possibility of Tesla accepting Bitcoin payments again, once it takes the eco-friendly mining route. This made the value rally up and had an impact on the rest of the crypto market as well. With a 24-hour lowest price of US$38,945 and a 24-hour high of US$41,046, with no other big red flags like Chinas breakdown on cryptocurrencies, Bitcoin is expected to be bullish around a stable value as its 24-hour returns are up by 2.79%.

Ethereum is making the most of its bullish streak with a 24-hour high of US$2,640. Compared to Bitcoin, Ethereum has a higher percentage growth in terms of 24-hour returns at 5.09%. Ethereum logged a 24-hour transaction count of 1.19 million, which is partly because Elon Musks market shook up. Experts predict that Ethereums price will increase to US$2,800 by the end of June.

XRP is rallying after a disappointing week. Over the past seven days, XRP lost about 5.38% of its value but is now witnessing a steady growth of 1.75% in the last 24-hours. As of June 15, XRP has a 24-hour high of US$0.929970 after going down to US$0.863368. Thanks to its all green charts, Ripples XRP has managed to up its 24-hour returns by 1.76%.

Along with Ethereum, Cardano is another cryptocurrency that skyrocketed in the past 24-hours with a 4.20% increase. All charts point towards an upwards projection for Cardano with a 3.73% increase in 24-hour returns. Within this time, Cardano witnessed a low of US$1.51 and a high of US$1.61. Right now, Cardano is expected to hit the US$2.00 mark by the end of the month, making this a promising cryptocurrency to buy.

Off late, Dogecoin went a bit undercover. But thanks to Elon Musk, it revived the plummeted crypto coin again with a 24-hour increase of 1%. While it might seem a lot, it still earns a place in the top five growing cryptocurrencies as per its 24-hour metrics. Its returns increased by 0.80%, making its yearly returns all green with a 6,836% spike. As of June 15, Dogecoin has witnessed US$550.10 million transactions which speak volumes about its relevance in the crypto market.

Share This ArticleDo the sharing thingy

See original here:
Cryptocurrency Update: Comparing the Growth of Top Performers in June, 2021 - Analytics Insight

Read More..

The future of cryptocurrency: Could it replace the US dollar? – Wink News – Wink News

WINK NEWS

Cryptocurrency, which some see as the currency of the future, has had a rough ride lately.

After reaching an all-time high in April, it tanked. Still, many wonder if this form of digital currency might replace the almighty dollar.

Justin Verleys phone doubles as a wallet. His cards are attached to the back and he doesnt carry cash because its all inside his phone.

If theres ever a chance to use cryptocurrency over the dollar, Im going to prefer cryptocurrency. Just for speed reasons, for security reasons, for moral reasons, and because I trust it, he said.

Verley started using crypto over cash in college. He paid for necessities like school supplies and groceries.

Think about it like tokens at an arcade. You exchange a certain amount of dollars for an equivalent amount of tokens. These tokens have a fixed amount when youre looking to play Skee-Ball. With Bitcoin having a fixed amount, the value fluctuates like stocks.

I would liken Bitcoin more to a store of value like gold, more like digital gold than a currency, but that doesnt mean you cant spend it. Its very spendable. Its widely accepted around the world and its becoming more widely accepted, Verley said.

The appeal and danger of this form of money are that its decentralized, not controlled by a government or bank, which opens the door for illegal activity.

The Colonial Pipeline hackers demanded more than $2 million in cryptocurrency, which they were paid, but to the surprise of many, the FBI recovered it.

In this pandemic world, were seeing the monetary policy of printing money to help stimulate the economy. Bitcoin, one of its most unique value propositions is that as a fixed supply there will never be more than 21 million Bitcoin. So, people are going to it as an alternative investment as a safe store of value, said Neil Bergquist, CEO of Coinme, a company that exchanges cash for crypto.

More and more places are accepting Bitcoin, like Whole Foods, Starbucks and Home Depot.

Turning physical cash into a digital representation really has a lot of technological benefits in terms of payments and as a store of value and really bringing money or store value into a digital era, Bergquist said.

And its easily accessible. You can now buy Bitcoin at your local Winn-Dixie store through a Coinstar machine. (See locations below.)

Our expansion in Florida provides that access where that access may not have been there before. So simple things like being able to buy it with cash is a key piece of infrastructure for overall adoption, Bergquist said.

Its even likely that crypto will become a widely accepted form of payment, like debit or credit cards.

The concept of greater inclusion of virtual currency into our payment systems and processes is kind of inevitable, said Russell Weigel, commissioner of Floridas Office of Financial Regulation.

Right now, Florida doesnt have a clear definition of cryptocurrency or a policy to regulate it, which worries Weigel given the states history of fraud.

We need to account for that and make sure that any system we build also has as much consumer protection or retail investor protection that we can build into it, he said.

For Verley, even though he lost money in the recent crypto crash, he feels digital currency makes more sense than dollars and cents.

In most places in the world, theres no difference between swiping a credit card and spending your cryptocurrency. I feel like its an option that people are just going to choose rather than holding their money in U.S. dollars.

For those interested in getting into Bitcoin, Verley recommends buying slowly. Remember, as the recent trend shows, Bitcoin is volatile and changes constantly.

A list of Southwest Florida Winn-Dixie stores with Coinstar machines that exchange cash for Bitcoin is below.Note that you will first need to set up a Coinme account. For more information on Coinstar, click here.

Read this article:
The future of cryptocurrency: Could it replace the US dollar? - Wink News - Wink News

Read More..

Buy Coinbase on the dip for a long-term opportunity on the crypto economy, Canaccord says – CNBC

Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021.

Michael Nagle | Bloomberg | Getty Images

Coinbase's price may fluctuate alongside the value of bitcoin in the short term, but Canaccord is betting on the future of blockchain technology and initiating coverage of the crypto exchange as a buy.

The largest U.S. cryptocurrency exchange's stock, which was trading above $232 on Wednesday morning, made its public debut in mid-April and fell sharply with the price of bitcoin in late May. Bitcoin is currently trading around $39,000 following a roller-coaster month of trading after its price drop almost a month ago.

Coinbase's revenue is largely driven by trading fees, 81% of which come from retail trading and 5% from institutional trading, according to Canaccord. It has the highest trading fees across crypto exchanges, the bank found.

Still, Canaccord said it's confident Coinbase's business will ultimately expand beyond retail trading and into emerging opportunities for the blockchain which could include supporting new protocols beyond bitcoin and ethereum, decentralized finance and cloud solutions and that crypto exchange will be a "super on-ramp" into that new world.

View post:
Buy Coinbase on the dip for a long-term opportunity on the crypto economy, Canaccord says - CNBC

Read More..

Thinking Of Getting Into Cryptocurrency? The Top 10 Crypto Tax Mistakes To Avoid – Forbes

Depending on the month, day, hour, or minute you check the news, you might think investing in cryptocurrency or being paid in cryptocurrency is the greatest idea since sliced bread or the worst possible use of your money, ever. Whether you agree with Warren Buffett that cryptocurrency has no value or think Bitcoins value will rise to $300,000 in 2022, theres one thing about cryptocurrency that isnt up for debate: getting it right on tax returns has never been more critical.

The IRS is aggressively working to identify and root out United States taxpayers who are required to report cryptocurrency transactions, but either incorrectly report or omit cryptocurrency entirely from their tax returns. Understanding the tax implications of buying, selling, exchanging, or earning cryptocurrency has never been more important. Weve identified ten common mistakes made when reporting (or not reporting) cryptocurrency transactions to the Internal Revenue Service, and will detail how to avoid each mistake in its own article. Finally, we will end the Top 10 Crypto Tax Mistakes To Avoid series with suggestions for the IRS on how to better reach out to taxpayers who are making Crypto Tax Mistakes, and how to bring those taxpayers back into compliance. As a tax litigator, it is my job to Monday-Morning Quarterback how taxpayers and their tax professionals did the first time around. This series aims to help folks get it right from the beginning, or identify possible mistakes that may need to be addressed.

Photo illustration of the ethereum, ripple and litecoin cryptocurrency 'altcoins' (Photo by Jack ... [+] Taylor/Getty Images)

Number 10: Improperly Reporting Cryptocurrency Received From Air-drops, Forks, and Splits

Air-drops, forks, and splits may be foreign terms to rookie cryptocurrency investors, but its important for anyone even dabbling in this area to become quickly familiar with them as they have tax implications. Revenue Ruling 2019-24 specifically addresses these thorny issues, and we will help you work through the complexities of these events and how they impact your tax reporting requirements.

Number 9: Failing to Report Crypto-to-Crypto Transactions

It is common for crypto investors to exchange one cryptocurrency for another in a coin-to-coin transaction. Its important to understand these are taxable events and how they should be reported.

Number 8: Using the Wrong Form to Report Cryptocurrency Transactions

Are you being paid in cryptocurrency? Did you exchange a car for crypto or vise versa? Are you simply investing in crypto? Are you mining crypto? Each one of these potential transactions may require a different IRS form to accurately report the transaction and calculate the tax consequences.

Number 7: Improperly Reporting Cryptocurrency Received as Earned Income

Cryptocurrency received in exchange for performing services is not taxed the same as the sale of cryptocurrency held for investment. We will explore and explain proper tax treatment of cryptocurrency as income.

Number 6: Failing to Report Cryptocurrency Exchanged for Goods and Services

Thinking of paying for your new outdoor furniture from overstock.com in Bitcoin? As more and more retailers accept cryptocurrency, taxpayers need to understand the tax implications and reporting requirements associated with paying in crypto.

Number 5: Failure to Prepare and Maintain Adequate (or any!) Records Reflecting Crypto Transactions

As with any taxable sale or exchange of property, taxpayers must be able to establish basis in an asset, including cryptocurrency, in order to calculate the gain or loss and resulting tax due. Taxpayers who dont keep good records may find themselves paying tax on the sale of crypto as if they had no basis at all in the asset. Taxpayers should resist the urge to be lulled into laziness and assume all records will be available electronically come tax time.

Number 4: Failure to Properly Calculate Cryptocurrency Gains and Losses

Did you lose money on cryptocurrency? Losses can and should be reported to the IRS just like gains, and losses may completely offset any tax consequences of gains. But if they do, taxpayers still need to report the transactions. Cryptocurrency investors are not uniquely required to only report and pay taxes on gains, and should include losses and gains when calculating tax due.

Number 3: Using Like-kind Exchanges to Report Crypto

In all fairness, this isnt really something that I have seen any of my clients do. But because crypto held as investment is required to be reported as property, it makes sense that crypto exchanges for property, like a Tesla or exchanging Bitcoin for Ethereum should qualify for a like-kind exchange under section 1031 of the Internal Revenue Code. Unfortunately, it doesnt.

Number 2: Failure to Take Proper Steps to Pass on Your Cryptocurrency in the Event of Your Death or Disability

Do your loved ones know how to access your cryptocurrency accounts? If you die or become disabled, the value of your cryptocurrency may well be included in your taxable estate, even if your loved ones cant actually access or unlock the value of that asset. We will explore best practices for how to ensure your loved ones are not left cleaning up your crypto mess without any access to the value of the asset.

Number 1: Failure to Report Cryptocurrency at All

By far the worst error - whether intentional or unintentional - taxpayers make when it comes to taxes and cryptocurrency is failure to report crypto transactions at all. Carolyn Schenk, the National Fraud Counsel & Assistance Division Counsel for IRS Office of Chief Counsel put it this way when addressing crypto investors who are not reporting income, We see you.

Putting it all Together

Since Im not the Commissioner of the Internal Revenue Service, I dont get to decide how the IRS is going to handle increasing and improving outreach to taxpayers who should be reporting cryptocurrency transactions on their tax returns, and I dont get to decide how the IRS is going to bring those taxpayers into compliance. But as a tax litigator, I have a lot of ideas on how I think the IRS should be accomplishing these goals. We will finish our series with a close look at how the IRS has been handling outreach and enforcement so far, and what wed like to see in the future.

Go here to see the original:
Thinking Of Getting Into Cryptocurrency? The Top 10 Crypto Tax Mistakes To Avoid - Forbes

Read More..