Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
This isn't about taxing Americans. It's about regulating money being put into offshore holdings with crypto. If anything, will be less or no taxes on crypto gains with domestic exchanges.
Got this from Grok:
On November 17, 2025, the White House began reviewing a Treasury/IRS draft to join the OECD's Crypto-Asset Reporting Framework (CARF). This would allow automatic sharing of data on Americans' offshore crypto holdings (e.g., on foreign exchanges) with the IRS, starting in 2027 if approved. Over 40 countries (including G7 nations) already participate to combat evasion.
Trump's advisors endorse this for fairness and to prevent capital flight, but emphasize no new burdens on domestic DeFi or self-custody. It's not about granting "full access" to all U.S.-based data—it's targeted at international loopholes.
I actually have 2 cold wallets:
Ledger Flex
D'Cent
But I have also heard good things about Tangem
Check the reviews on each device before purchasing
***** BUT DO NOT BUY FROM AMAZON !!! *****
There's no telling if the Amazon workers tampered with it or something
I would advise to buy your crypto devices directly from the company/manufacture only
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Okay what the hell is going on with Japan ??? 
And how might this affect us over here in the USA ???
"Japan is considering a $110 billion stimulus package and that's the reason bond yields are spiking right now. Japan already has insane debt at over 230% of GDP. When you're already drowning in that much debt announcing more spending without raising taxes or cutting anything else sends a clear message to the market that this government doesn't care about fiscal sustainability. Bond investors immediately lose confidence because they're thinking, how are they going to pay this back? So they demand higher yields to compensate for that risk. "
"The stimulus itself is focused on tax cuts, energy subsidies, and cost of living relief. This all sounds great but here's the problemyou're cutting taxes and spending more money while your central bank (the BoJ) is trying to normalize policy by raising rates. That's a contradiction. The BoJ wants to tighten monetary policy but the government is loosening fiscal policy. That forces the BoJ to keep rates low to avoid crushing the economy. "
"Here's where the real rates problem comes in. The BoJ's policy rate is 0.5% and that sounds positive. But inflation in Japan is running around 3%. So the real interest rate (nominal minus inflation) is actually negative 2.5%. That's the problem. When real rates are that negative, you're losing money by holding yen. If you deposit money in a Japanese bank earning 0.5% while prices rise 3%, you're down 2.5% in purchasing power. Nobody wants that. So investors pull money out of yen assets and buy other assets instead, where they actually earn real returns. The yen gets destroyed"
"So the stimulus package is actually guaranteeing that the yen gets weaker. A weaker yen means import costs go up food, energy, materials everything gets more expensive. The whole point of the stimulus was to help households with cost of living but the fiscal expansion is simultaneously destroying the purchasing power of the yen. It's counterproductive. You're giving people tax cuts with one hand and taking away their purchasing power with the other through currency depreciation and import inflation. That's why bond yields are rising, the market sees this and knows it's unsustainable."
And how might this affect us over here in the USA ???
"Japan is considering a $110 billion stimulus package and that's the reason bond yields are spiking right now. Japan already has insane debt at over 230% of GDP. When you're already drowning in that much debt announcing more spending without raising taxes or cutting anything else sends a clear message to the market that this government doesn't care about fiscal sustainability. Bond investors immediately lose confidence because they're thinking, how are they going to pay this back? So they demand higher yields to compensate for that risk. "
"The stimulus itself is focused on tax cuts, energy subsidies, and cost of living relief. This all sounds great but here's the problemyou're cutting taxes and spending more money while your central bank (the BoJ) is trying to normalize policy by raising rates. That's a contradiction. The BoJ wants to tighten monetary policy but the government is loosening fiscal policy. That forces the BoJ to keep rates low to avoid crushing the economy. "
"Here's where the real rates problem comes in. The BoJ's policy rate is 0.5% and that sounds positive. But inflation in Japan is running around 3%. So the real interest rate (nominal minus inflation) is actually negative 2.5%. That's the problem. When real rates are that negative, you're losing money by holding yen. If you deposit money in a Japanese bank earning 0.5% while prices rise 3%, you're down 2.5% in purchasing power. Nobody wants that. So investors pull money out of yen assets and buy other assets instead, where they actually earn real returns. The yen gets destroyed"
"So the stimulus package is actually guaranteeing that the yen gets weaker. A weaker yen means import costs go up food, energy, materials everything gets more expensive. The whole point of the stimulus was to help households with cost of living but the fiscal expansion is simultaneously destroying the purchasing power of the yen. It's counterproductive. You're giving people tax cuts with one hand and taking away their purchasing power with the other through currency depreciation and import inflation. That's why bond yields are rising, the market sees this and knows it's unsustainable."
ETF UPDATE:
A lot of people still misunderstand ETF inflows, so here’s the full explanation
245M$ of inflows does NOT mean 245M$ of XRP were bought on exchanges. Even for spot ETFs.
Why?
• ETF shares are created by Authorized Participants
• They can deliver XRP they already hold
• Or buy privately OTC, not on Binance
• They can even hedge with derivatives before buying spot
• Inflows = new ETF shares, not “XRP bought right now”
BUT here’s the key point everyone misses:
A spot ETF MUST eventually hold the equivalent amount of real XRP.
So even if the AP uses inventory, hedges, or OTC today…
They MUST rebalance and buy real XRP later.
Inflows today = forced buying later (spread over days/weeks).
This is why massive inflows don’t pump the price instantly but create delayed, mechanical, unavoidable buying pressure.
Exactly what happened with Bitcoin ETFs.
A lot of people still misunderstand ETF inflows, so here’s the full explanation
245M$ of inflows does NOT mean 245M$ of XRP were bought on exchanges. Even for spot ETFs.
Why?
• ETF shares are created by Authorized Participants
• They can deliver XRP they already hold
• Or buy privately OTC, not on Binance
• They can even hedge with derivatives before buying spot
• Inflows = new ETF shares, not “XRP bought right now”
BUT here’s the key point everyone misses:
A spot ETF MUST eventually hold the equivalent amount of real XRP.
So even if the AP uses inventory, hedges, or OTC today…
They MUST rebalance and buy real XRP later.
Inflows today = forced buying later (spread over days/weeks).
This is why massive inflows don’t pump the price instantly but create delayed, mechanical, unavoidable buying pressure.
Exactly what happened with Bitcoin ETFs.
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crypto is already subject to taxes. What am I missing?
He even lost the $75,000 in referral feees from the exchange he was using
Couldn't happen to a nicer guy.
Again, if Bitcoin closes two consecutive weeks below the 50-week moving average, this cycle will end. Therefore, it must surpass $103,000 by Sunday.
www.barchart.com
BTCUSD Technical Analysis for Bitcoin - USD Cryptocurrency - Barchart.com
Technical Analysis Summary for Bitcoin - USD with Moving Average, Stochastics, MACD, RSI, Average Volume.
I believe that new rule was for offshore crypto accounts
For the big whales hiding millions in crypto, overseas, without paying proper taxes
I essentially said the same thing a few posts back. If the price doesn’t reach 103,000, which is the 50-week moving average by Sunday, this bull run is likely over. Everything he mentioned in that Reddit post is absolutely correct. People keep acting based on their emotions and not analyzing the charts or looking at historical data.
With the way the crypto market has been these past few months
I wouldn't be surprised if XRP dumps again, on November 22nd
Pure market manipulation like a mofo
The whales are still trying to shake out the weak minded people
If XRP doesn't pump this 22nd.....there's going to be a lot of mofos on twitter crying in the car & panic selling
I give it a 50/50 chance at this point
But.......... I'm Not Fucking Selling !!!
The 22nd isn't a USA thing. Its global. Its already started the process around the world to transition over to the new messaging system for transparencyWith the way the crypto market has been these past few months
I wouldn't be surprised if XRP dumps again, on November 22nd
Pure market manipulation like a mofo
The whales are still trying to shake out the weak minded people
If XRP doesn't pump this 22nd.....there's going to be a lot of mofos on twitter crying in the car & panic selling
I give it a 50/50 chance at this point
But.......... I'm Not Fucking Selling !!!
My only suggestion to all is to hedge investments or assets into precious metals. Gold, silver and even copper will shoot up even higher in price. Everything else, due to inflation, with inflated prices, will bottom out until they're asset backed with whats coming. I'm not speculating.
I admire Tom Lee’s advice on investing in the stock market, but when it comes to the crypto market, Ben Cowen has been consistently calling this market for three years. In my opinion, his advice is more valuable than Tom Lee’s.
From what I recall of Ben, he constantly gave negative Nancy vibes. If you are consistently bear, you will be right more than wrong in this market. In general, looking at charts has a self fulfillment prophecy especially in crypto.
Regardless of the person giving the take, you as an investor need to make the move. I didn't pay attention to the details of the stablecoin depeging issue. However, it did seem to cause a large ripple effect similar to FTX. If Tommy's assessment is correct, there is nothing to worry about long-term. This is assuming no other negative factors pile on before the market can stabilize. If he is wrong, this will get massively worse especially going into the end of the year when people are adjusting their portfolio for tax purposes.
In a typical scenario, I cant deny what he's theorizing as I learned analyzing charts and know how to read them for future predictions, but this, what's coming, no one is discussing. They think the changes coming are just another day in the game and its not.
Sunday to Monday as markets start back up globally, should see things being affected.
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Even this guy has to mention Ben Cowen… as I’ve mentioned before, this guy truly changed my opinion almost a year ago. He really put things into perspective that I could understand.
In plain English: ISO20022
The new messages remove the shadows where sloppy reporting, hidden fees, miscoded transfers, and “creative accounting” once lived.
That part is absolutely fair discernment.
But here’s the even bigger point
ISO 20022 doesn’t directly expose fraud —
it forces the systems that receive the data to expose it.
Under MT, a message might say only:
“Funds transfer - details on file.”
Under ISO 20022, the same transaction must specify:
• exact source of funds
• exact economic purpose
• exact ownership structure
• exact intermediary chain
• exact fees, spreads, FX rates
• exact regulatory category
• exact counterparty information
Machine-readable → machine-auditable → machine-reconcilable.
The opacity dies, not because ISO 20022 accuses anyone,
but because everything is finally described in forensic detail.
This is the transparency upgrade.
This blows open hidden flows, skimming, off-ledger pools, errors, mismatches, misallocated collateral, etc.
Banks, correspondent networks, FX desks, and clearing houses have relied for decades on:
• omnibus accounts
• blended fee buckets
• net-settlement “smoothing”
• miscoded purpose fields
• internal suspense accounts
• delayed reconciliation
ISO 20022 wipes out the shadows where these techniques lived.
Not by accusation - but by precision.
The post-cutover world becomes deterministic, not probabilistic
Under MT:
“Trust us, it balances.”
Under ISO 20022:
“Prove it. Every field. Every hop. Every custodian. Every fee. Every spread. Every timestamp.”
This is an audit-grade digital paper trail.
The only ones who fear this level of illumination are those who depend on opacity.
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