Best Twitter threads of the day – August 28th
Top 5 alpha tweets on crypto
Twitter is an alpha gold mine if you know where to look.
— Miles Deutscher (@milesdeutscher) August 27, 2023
I compiled the top 5 alpha tweets I read this week for your convenience.👇
1. Banger post by @CryptoCred on funding rates and how they work. https://t.co/yIcK1AZtv0
— Miles Deutscher (@milesdeutscher) August 27, 2023
2. Great observation regarding the current state of the market. Eloquently sums up how a lot of us are feeling (and why). https://t.co/OQ7o68xWrm
— Miles Deutscher (@milesdeutscher) August 27, 2023
3. Very interesting and well-put together thread. Highlights the importance of on-chain wallet tracking. https://t.co/kZCJd9WY2L
— Miles Deutscher (@milesdeutscher) August 27, 2023
4. Why thinking in first principles is a crucial skill. https://t.co/KqtKEbPdGB
— Miles Deutscher (@milesdeutscher) August 27, 2023
5. Amazing master thread on the top crypto airdrops. https://t.co/4aJFCgSwYR
— Miles Deutscher (@milesdeutscher) August 27, 2023
Hong Kong’s Financial Secretary’s Prediction on Crypto and Web3
🚨 BREAKING: 🇭🇰 Hong Kong's Financial Secretary Drops Bombshell Prediction about Web3 and #Crypto 🔥
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
🇨🇳 A seismic move that even CHINA can't ignore 😳
A thread 🧵 pic.twitter.com/VwTXTISI37
1️⃣ Financial Secretary's Viewpoint:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Hong Kong's Financial Secretary, Paul Chan Mo-po, believes that the future of digital tech growth in Hong Kong will be powered by blockchain and Web3 technologies. pic.twitter.com/7wzaFQyPgz
2️⃣ Emerging Sectors:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Within Web3, sectors like NFTs (digital art and collectibles), GameFi (gaming with financial mechanics), Play-to-Earn gaming (games where players can earn real-world value), and immersive entertainment are expected to be the forefront of digital… pic.twitter.com/Bybx6Ju7h5
3️⃣ Advantages of Web3:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Web3's underlying blockchain technology offers many benefits, including:
➡️ Disintermediation: Removes middlemen.
➡️ Security: Provides secure digital interactions.
➡️ Transparency: Offers clear, transparent operations.
➡️ Immutability: Ensures data… pic.twitter.com/RUNJFGxwYd
4️⃣ Digital Entertainment Leaders Forum:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Paul Chan recently attended this three-day blockchain event held at Cyberport in Hong Kong. pic.twitter.com/z5dUMGf1CO
5️⃣ Cyberport's Role:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 It's a significant tech and multimedia hub in Hong Kong that supports tech and digital entertainment companies.
👉 Chan allocated an extra $50 million to boost the Web3 ecosystem here.
👉 Over 180 Web3-focused companies are currently based in Cyberport,… pic.twitter.com/7V1WTKG48X
6️⃣ Hong Kong vs. China:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 While mainland China has been against #crypto for years, Hong Kong is taking a more open approach.
👉 Hong Kong has introduced crypto-friendly laws, aiming to be a global center for digital assets.
7️⃣ Hong Kong's Web3 Initiative:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 The region has formed a Web3 task force, aiming to provide guidance on the industry's sustainable growth. pic.twitter.com/pugLFAQGHH
8️⃣ Local #Crypto Exchange:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 HashKey, a local crypto exchange in Hong Kong, recently got approval to offer crypto assets to regular people, expanding from just institutional clients. pic.twitter.com/whlBK6yMx3
9️⃣ Summary:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 In short, Hong Kong is heavily investing in and supporting the growth of Web3 and related technologies, aiming to be a leader in the digital tech arena.
U.S. put forward measures for crypto taxation
🚨 URGENT: 🇺🇸 U.S. just unleashed a game-changer for #Crypto taxation! 😲
— RichQuack (@RichQuack) August 27, 2023
If you're in crypto, you NEED to read this! 🔥
Thread 🧵#CryptoNews #RichQUACK $QUACK #Bitcoin #binance pic.twitter.com/jR4C1Dd8td
1/ The Proposal Unveiled:
— RichQuack (@RichQuack) August 27, 2023
👉 U.S. Treasury aims for #crypto platforms to disclose user transactions to the IRS.
👉 Introducing Form 1099-DA for this purpose. pic.twitter.com/UAm9QYQfjk
2/ Why This Rule?
— RichQuack (@RichQuack) August 27, 2023
👉 Simplifies tax calculations for #crypto users.
👉 Aligns crypto reporting with traditional financial instruments. pic.twitter.com/YagpUc5fWQ
3/ Who's Considered a "Broker"?
— RichQuack (@RichQuack) August 27, 2023
👉 Centralized & decentralized exchanges alike.
👉 Payment processors in #crypto.
👉 Certain online wallets. pic.twitter.com/GHomZLSjU2
4/ Rule's Origin:
— RichQuack (@RichQuack) August 27, 2023
👉 Stemming from the 2021 $1T Infrastructure Bill.
👉 Targets enhanced tax compliance, potentially generating $28B over a decade. pic.twitter.com/ApSgUY4TYY
5/ Implementation Timeline?
— RichQuack (@RichQuack) August 27, 2023
👉 Expected to be active by 2025, affecting 2026 tax filings. pic.twitter.com/ORYp5VOnOB
7/ Decentralized Worries:
— RichQuack (@RichQuack) August 27, 2023
👉 Rule could label many decentralized entities as "brokers".
👉 Ambiguity around the term "effectuating" transfers. pic.twitter.com/mVLQ2qzxtW
8/ Who Could Be Impacted?
— RichQuack (@RichQuack) August 27, 2023
👉 Wallets like Metamask.
👉 DEXs like Uniswap.
👉 Multi-sig smart contracts may need new ID rules. pic.twitter.com/xf23a7Av1Y
9/ Lawmakers Weigh In:
— RichQuack (@RichQuack) August 27, 2023
👉 Rep. Patrick McHenry among those calling for clearer guidelines. pic.twitter.com/Fn1j8VDVzh
11/ Next Moves:
— RichQuack (@RichQuack) August 27, 2023
👉 Public feedback open until Oct. 30.
👉 Public hearings set for Nov. 7-8 for further discussions. pic.twitter.com/xp6yowZ5ps
Best Twitter threads of the day – August 28th
Top 5 alpha tweets on crypto
Twitter is an alpha gold mine if you know where to look.
— Miles Deutscher (@milesdeutscher) August 27, 2023
I compiled the top 5 alpha tweets I read this week for your convenience.👇
1. Banger post by @CryptoCred on funding rates and how they work. https://t.co/yIcK1AZtv0
— Miles Deutscher (@milesdeutscher) August 27, 2023
2. Great observation regarding the current state of the market. Eloquently sums up how a lot of us are feeling (and why). https://t.co/OQ7o68xWrm
— Miles Deutscher (@milesdeutscher) August 27, 2023
3. Very interesting and well-put together thread. Highlights the importance of on-chain wallet tracking. https://t.co/kZCJd9WY2L
— Miles Deutscher (@milesdeutscher) August 27, 2023
4. Why thinking in first principles is a crucial skill. https://t.co/KqtKEbPdGB
— Miles Deutscher (@milesdeutscher) August 27, 2023
5. Amazing master thread on the top crypto airdrops. https://t.co/4aJFCgSwYR
— Miles Deutscher (@milesdeutscher) August 27, 2023
Hong Kong’s Financial Secretary’s Prediction on Crypto and Web3
🚨 BREAKING: 🇭🇰 Hong Kong's Financial Secretary Drops Bombshell Prediction about Web3 and #Crypto 🔥
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
🇨🇳 A seismic move that even CHINA can't ignore 😳
A thread 🧵 pic.twitter.com/VwTXTISI37
1️⃣ Financial Secretary's Viewpoint:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Hong Kong's Financial Secretary, Paul Chan Mo-po, believes that the future of digital tech growth in Hong Kong will be powered by blockchain and Web3 technologies. pic.twitter.com/7wzaFQyPgz
2️⃣ Emerging Sectors:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Within Web3, sectors like NFTs (digital art and collectibles), GameFi (gaming with financial mechanics), Play-to-Earn gaming (games where players can earn real-world value), and immersive entertainment are expected to be the forefront of digital… pic.twitter.com/Bybx6Ju7h5
3️⃣ Advantages of Web3:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Web3's underlying blockchain technology offers many benefits, including:
➡️ Disintermediation: Removes middlemen.
➡️ Security: Provides secure digital interactions.
➡️ Transparency: Offers clear, transparent operations.
➡️ Immutability: Ensures data… pic.twitter.com/RUNJFGxwYd
4️⃣ Digital Entertainment Leaders Forum:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 Paul Chan recently attended this three-day blockchain event held at Cyberport in Hong Kong. pic.twitter.com/z5dUMGf1CO
5️⃣ Cyberport's Role:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 It's a significant tech and multimedia hub in Hong Kong that supports tech and digital entertainment companies.
👉 Chan allocated an extra $50 million to boost the Web3 ecosystem here.
👉 Over 180 Web3-focused companies are currently based in Cyberport,… pic.twitter.com/7V1WTKG48X
6️⃣ Hong Kong vs. China:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 While mainland China has been against #crypto for years, Hong Kong is taking a more open approach.
👉 Hong Kong has introduced crypto-friendly laws, aiming to be a global center for digital assets.
7️⃣ Hong Kong's Web3 Initiative:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 The region has formed a Web3 task force, aiming to provide guidance on the industry's sustainable growth. pic.twitter.com/pugLFAQGHH
8️⃣ Local #Crypto Exchange:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 HashKey, a local crypto exchange in Hong Kong, recently got approval to offer crypto assets to regular people, expanding from just institutional clients. pic.twitter.com/whlBK6yMx3
9️⃣ Summary:
— Keyur Rohit (@CryptoKingKeyur) August 28, 2023
👉 In short, Hong Kong is heavily investing in and supporting the growth of Web3 and related technologies, aiming to be a leader in the digital tech arena.
U.S. put forward measures for crypto taxation
🚨 URGENT: 🇺🇸 U.S. just unleashed a game-changer for #Crypto taxation! 😲
— RichQuack (@RichQuack) August 27, 2023
If you're in crypto, you NEED to read this! 🔥
Thread 🧵#CryptoNews #RichQUACK $QUACK #Bitcoin #binance pic.twitter.com/jR4C1Dd8td
1/ The Proposal Unveiled:
— RichQuack (@RichQuack) August 27, 2023
👉 U.S. Treasury aims for #crypto platforms to disclose user transactions to the IRS.
👉 Introducing Form 1099-DA for this purpose. pic.twitter.com/UAm9QYQfjk
2/ Why This Rule?
— RichQuack (@RichQuack) August 27, 2023
👉 Simplifies tax calculations for #crypto users.
👉 Aligns crypto reporting with traditional financial instruments. pic.twitter.com/YagpUc5fWQ
3/ Who's Considered a "Broker"?
— RichQuack (@RichQuack) August 27, 2023
👉 Centralized & decentralized exchanges alike.
👉 Payment processors in #crypto.
👉 Certain online wallets. pic.twitter.com/GHomZLSjU2
4/ Rule's Origin:
— RichQuack (@RichQuack) August 27, 2023
👉 Stemming from the 2021 $1T Infrastructure Bill.
👉 Targets enhanced tax compliance, potentially generating $28B over a decade. pic.twitter.com/ApSgUY4TYY
5/ Implementation Timeline?
— RichQuack (@RichQuack) August 27, 2023
👉 Expected to be active by 2025, affecting 2026 tax filings. pic.twitter.com/ORYp5VOnOB
7/ Decentralized Worries:
— RichQuack (@RichQuack) August 27, 2023
👉 Rule could label many decentralized entities as "brokers".
👉 Ambiguity around the term "effectuating" transfers. pic.twitter.com/mVLQ2qzxtW
8/ Who Could Be Impacted?
— RichQuack (@RichQuack) August 27, 2023
👉 Wallets like Metamask.
👉 DEXs like Uniswap.
👉 Multi-sig smart contracts may need new ID rules. pic.twitter.com/xf23a7Av1Y
9/ Lawmakers Weigh In:
— RichQuack (@RichQuack) August 27, 2023
👉 Rep. Patrick McHenry among those calling for clearer guidelines. pic.twitter.com/Fn1j8VDVzh
11/ Next Moves:
— RichQuack (@RichQuack) August 27, 2023
👉 Public feedback open until Oct. 30.
👉 Public hearings set for Nov. 7-8 for further discussions. pic.twitter.com/xp6yowZ5ps