Inside the Crypto Bullseye Zone

How the new IRS 6050I law affects crypto

The IRS 6050I is the biggest regulatory gotcha in the history of crypto.

I’ve written numerous times about multiple impossible reporting requirements, such as the digital asset broker reporting proposed regulations, including The IRS Tripled Your Crypto Tax...

What are deepfakes?

Deepfakes are the synthetic manipulation of anyone’s likeness in any medium for the purpose of tricking people into believing something false or stealing their money. Fakes of objects, documents or anything else have been around since the beginning of time. As soon as photograph...

Phishing attacks saw an alarming increase of 1300% in 2023, posing a significant threat to your crypto assets. Let’s explore the reasons behind this surge and equip you with strategies to fight back against these malicious attempts at crypto fraud.

Understanding phishing attacks

Phishing attacks i...

I previously explained how The IRS Kills Crypto in 282 Page Regs Part 1 and how The IRS Kills DeFi in 282 Page Regs Part 2.

Clarifying crypto cost basis

The IRS proposed regs titled, “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Tra...

Check out IRS Kills Crypto in 282 Page Broker Regs (Part I) to get the background.

The DeFi logic

After digesting Part I at least you understand some of the general background of the IRS’ logic and reasoning. Now let’s examine more specific logic for how the proposed regulations apply to DeFi. It ...

The background

IRS proposed regulations titled, “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions” were issued at the end of August 2023.  

There are 2 places you can view the proposed regs:

1. PDF version of the proposed r...

Crypto is the goose and airdrops are golden eggs

Airdrops may be the greatest crypto strategy invented and one of several key benefits of investing in cryptocurrency. There is no better feeling than getting free money for doing things you already do in crypto.

Money does fall from the sky and mone...

Recommended resources for learning crypto

If you successfully invest in anything, you need tools - and crypto investing is no different. The best part is there are many free resources available to learn crypto. Some of these may be obvious but using them as part of a system unlocks even more value....

“Should I get into cryptocurrency?”

You probably have friends and family still asking this or you may be asking yourself whether to go deeper into crypto.

Here’s an angle on institutional investors, like hedge funds, pension funds, banks etc. that helps answer the question. The crypto market has l...

Three reasons you could miss Bitcoin reaching $1,480,000 in 2030

Is bitcoin worth investing? Get ready to have your mind blown.

I’ve extracted several key pages on Bitcoin from the Big Ideas 2023 Report by Ark invest to explain how my crypto OG evangelist mind was blown apart. I’m so long on Bitco...

UK makes crypto tax-free by calling it gambling

The UK wants to be a global blockchain hub but then stated crypto has no value and should be regulated like gambling which makes it tax free. That's insane. This stance is full of hypocrisy and contradictions.

The UK Treasury issued a report in May 2...

Don't morph into a crypto PIG

By now you've probably heard about pig butchering crypto scams, which are a subset of crypto scamming. I've studied frauds for the last 12 years and I'm especially intrigued by the anatomy of crypto scams and the psychology of the victims.

I'm also a Certified Fraud E...