Hey there, crypto enthusiasts! If you're passionate about the future of Bitcoin and cryptocurrencies, you're in for a treat. Recently, the DeFi Education Fund rallied over 110 crypto pioneers to send a crucial message to the U.S. Senate Banking Committee. Their demand? To shield software developers and noncustodial service providers through robust legislation. Let's dive into why this plea is pivotal for the industry's growth and resilience.
The Call to Protect Innovators
Supporting the Backbone of Crypto
Imagine this: software developers are the architects of the crypto realm, crafting the very foundations upon which digital currencies stand. Without their creativity and dedication, the entire industry would crumble. That's why safeguarding these innovators is not just a matter of choice; it's a necessity for sustained progress.
Upholding Innovation for a Brighter Future
The Vital Role of Regulatory Clarity
Picture a world where innovation knows no bounds, where developers can freely explore new horizons without the fear of suffocating regulations. This is the world we strive to create—one that nurtures innovation, fosters growth, and propels the United States towards becoming the global hub for crypto innovation.
Building a Strong Foundation for Growth
A Bipartisan Effort for Progress
Let's face it: progress knows no political boundaries. The recent bipartisan support in the House of Representatives speaks volumes about the unified stance on protecting developers. It's time for the Senate to step up, refine existing protections, and pave the way for a flourishing crypto ecosystem.
As you can see, the future of cryptocurrencies hinges on the unwavering support for developers. By championing their cause, we not only ensure the industry's resilience but also set the stage for groundbreaking innovations that can shape the world we live in. So, let's join hands in advocating for a secure, vibrant crypto landscape that thrives on innovation and inclusivity.
Frequently Asked Questions
What precious metals can you invest in for retirement?
Gold and silver are the best precious metal investments. Both are easy to sell and can be bought easily. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: The oldest form of currency known to man is gold. It's also very safe and stable. It is a good way for wealth preservation during uncertain times.
Silver: Investors have always loved silver. It's a great option for those who want stability. Silver tends to move up, not down, unlike gold.
Platinum: This precious metal is also becoming more popular. It's durable and resists corrosion, just like gold and silver. It's also more expensive than the other two.
Rhodium: Rhodium is used in catalytic converters. It is also used in jewelry-making. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also less expensive. For these reasons, it's become a favorite among investors looking to add precious metals to their portfolios.
Should you Invest In Gold For Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you are unsure which option to choose, consider investing in both options.
Gold offers potential returns and is therefore a safe investment. Retirees will find it an attractive investment.
Gold is more volatile than most other investments. As a result, its value changes over time.
This does not mean you shouldn’t invest in gold. It just means that you need to factor in fluctuations to your overall portfolio.
Another benefit to gold? It's a tangible asset. Gold is more convenient than bonds or stocks because it can be stored easily. It is also easily portable.
As long as you keep your gold in a secure location, you can always access it. Plus, there are no storage fees associated with holding physical gold.
Investing in gold can help protect against inflation. Because gold prices tend to rise along with other commodities, it's a good way to hedge against rising costs.
Also, you'll reap the benefits of having some savings invested in something with a stable value. Gold usually rises when stocks fall.
Another advantage to investing in gold is the ability to sell it whenever you wish. You can also liquidate your gold position at any time you need cash, just like stocks. You don't even need to wait for your retirement.
If you do decide to invest in gold, make sure to diversify your holdings. You shouldn't try to put all of your eggs into one basket.
Don't buy too many at once. Start with just a few drops. Continue adding more as necessary.
Keep in mind that the goal is not to quickly become wealthy. Instead, the goal here is to build enough wealth to not need to rely upon Social Security benefits.
And while gold might not be the best investment for everyone, it could be a great supplement to any retirement plan.
How much money should I put into my Roth IRA?
Roth IRAs are retirement accounts that allow you to withdraw your money tax-free. The account cannot be withdrawn from until you are 59 1/2. There are some rules that you need to keep in mind if you want to withdraw funds from these accounts before you reach 59 1/2. First, you cannot touch your principal (the original amount deposited). You cannot withdraw more than the original amount you contributed. You must pay taxes on the difference if you want to take out more than what you initially contributed.
The second rule says that you cannot withdraw your earnings without paying income tax. Also, taxes will be due on any earnings you take. For example, let's say that you contribute $5,000 to your Roth IRA every year. Let's say you earn $10,000 each year after contributing. This would mean that you would have to pay $3,500 in federal income tax. You would have $6,500 less. Since you're limited to taking out only what you initially contributed, that's all you could take out.
If you took $4,000 from your earnings, you would still owe taxes for the $1,500 remaining. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
Two types of Roth IRAs are available: Roth and traditional. Traditional IRAs allow for pre-tax deductions from your taxable earnings. You can withdraw your contributions plus interest from your traditional IRA when you retire. You can withdraw as much as you want from a traditional IRA.
Roth IRAs do not allow you to deduct your contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. There is no minimum withdrawal amount, unlike traditional IRAs. It doesn't matter if you are 70 1/2 or older before you withdraw your contribution.
How much should precious metals be included in your portfolio?
Before we can answer this question, it is important to understand what precious metals actually are. Precious Metals are elements that have a very high relative value to other commodities. They are therefore very attractive for investment and trading. The most traded precious metal is gold.
There are also many other precious metals such as platinum and silver. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It is also not affected by inflation and depression.
The general trend is for precious metals to increase in price with the overall market. That said, they do not always move in lockstep with each other. For instance, gold's price will rise when the economy is weak, while precious metals prices will fall. Investors are more likely to expect lower interest rates making bonds less attractive investments.
In contrast, when the economy is strong, the opposite effect occurs. Investors choose safe assets such Treasury Bonds over precious metals. These precious metals are rare and become more costly.
It is important to diversify your portfolio across precious metals in order to maximize your profit from precious metals investments. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
How Does Gold Perform as an Investment?
Supply and demand determine the gold price. Interest rates also have an impact on the price of gold.
Because of their limited supply, gold prices can fluctuate. There is also a risk in owning gold, as you must store it somewhere.
Can I own a gold ETF inside a Roth IRA
A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).
An IRA traditional allows both employees and employers to contribute. Another option is to invest in publicly traded corporations with an Employee Stockownership Plan (ESOP).
An ESOP offers tax benefits because employees can share in the company stock and any profits that it generates. The money invested in the ESOP is then taxed at lower rates than if it were held directly in the hands of the employee.
A Individual Retirement Annuity (IRA), is also available. An IRA lets you make regular, income-generating payments to yourself over your life. Contributions to IRAs will not be taxed
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
bbb.org
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
finance.yahoo.com
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement account
How To
Investing In Gold vs. Investing In Stocks
This might make it seem very risky to invest gold as an investment tool. This is because many people believe that gold investment is no longer profitable. This belief arises because most people believe that the global economy is driving down gold prices. They believe they would lose their money if they invested gold. In reality, however there are still many significant benefits to gold investing. Below we'll look at some of them.
Gold is one of the oldest forms of currency known to man. Its use can be traced back to thousands of years ago. It is a valuable store of value that has been used by many people throughout the world. It continues to be used in South Africa, as a way of paying their citizens.
It is important to determine the price per Gram that you will pay for gold when making a decision about whether or not to invest. You must determine how much gold bullion you can afford per gram before you consider buying it. You can always ask a local jeweler what the current market rate is if you don't have it.
It is also worth noting that although gold prices have declined recently, the cost of producing gold has increased. The price of gold may have fallen, but the production costs haven’t.
You should also consider the amount of your intended purchase when considering whether you should buy or not. For example, if you only intend to purchase enough to cover your wedding rings, it probably makes sense to hold off on buying any gold. It is worth considering if you intend to use it for long-term investment. You can profit if you sell your gold at a higher price than you bought it.
We hope this article has given you an improved understanding of gold investment tools. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only then will you be able to make an informed decision.
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By: Frank Corva
Title: Why Congress Must Safeguard Developers to Secure Crypto Industry Future
Sourced From: bitcoinmagazine.com/politics/bitcoin-and-crypto-advocates-warn-congress-protect-developers-or-lose-industry-support
Published Date: Wed, 27 Aug 2025 09:08:22 +0000
