As the crypto world evolves, it's crucial for Congress to support the unsung heroes behind the scenes: developers. Recently, the DeFi Education Fund, backed by 110+ crypto innovators, has urged the U.S. Senate Banking Committee to prioritize safeguarding developers in market structure legislation.
The Vital Role of Developer Protection
Empowering Innovation
Imagine developers as architects shaping the foundation of the digital economy. Without their protection, the entire crypto ecosystem risks instability.
Preserving Freedom in Open Source Development
Just like artists need creative freedom, developers require a safe space to innovate without suffocating regulations. It's about nurturing a fertile ground for groundbreaking ideas to flourish.
Challenges on the Horizon
Threat of Regulatory Ambiguity
Picture a maze with no clear path. That's what developers face without regulatory clarity. Uncertainty hampers innovation and drives talent away.
Decline in U.S.-Based Developers
Think of developers as seeds. When not nurtured, they wither. The U.S. saw a decline in open source developers due to the lack of clear rules, putting its crypto dominance at risk.
Call to Action: Safeguard Developer Rights
Unity in Purpose
When developers thrive, the entire industry prospers. Congress must unite to protect these visionaries, ensuring the U.S. remains a crypto powerhouse.
Moving Forward
It's time for action. Let's support legislation like the Blockchain Regulatory Certainty Act and the Keep Your Coins Act, vital for nurturing innovation and securing the future of crypto.
By championing developer rights, Congress can pave the way for a vibrant, sustainable crypto landscape. It's not just about regulations; it's about fostering a community where developers can innovate fearlessly. Let's stand together to protect the architects of our digital future!
Frequently Asked Questions
What proportion of your portfolio should you have in precious metals
First, let's define precious metals to answer the question. Precious metals have elements with an extremely high worth relative to other commodity. This makes them highly valuable for both investment and trading. Gold is today the most popular precious metal.
There are many other precious metals, such as silver and platinum. The price for gold is subject to fluctuations, but stays relatively stable in times of economic turmoil. It also remains relatively unaffected by inflation and deflation.
The general trend is for precious metals to increase in price with the overall market. They do not always move in the same direction. 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.
The opposite effect happens when the economy is strong. Investors are more inclined to invest in safe assets, such as Treasury Bonds, and they will not demand 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. You should also diversify because precious metal prices can fluctuate and it is better to invest in multiple types of precious metals than in one.
How can I withdraw from a Precious metal IRA?
First, decide if it is possible to withdraw funds from an IRA. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
If you are willing to pay a penalty for early withdrawal, you should consider opening a taxable brokerage account instead of an IRA. If you decide to go with this option, you will need to take into account the taxes due on the amount you withdraw.
Next, figure out how much money will be taken out of your IRA. This calculation is dependent on several factors like your age when you take the money out, how long you have had the account, and whether or not your plan to continue contributing.
Once you know how much of your total savings to convert to cash, it's time to choose the type of IRA that you want. Traditional IRAs let you withdraw money tax-free after you turn 59 1/2, while Roth IRAs require you to pay income taxes upfront but allow you access the earnings later without paying any additional taxes.
Once these calculations have been completed you will need to open an account with a brokerage. Brokers often offer promotional offers and signup bonuses to encourage people into opening accounts. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
You will need a safe place to store your coins when you are ready to withdraw from your precious metal IRA. Some storage facilities will take bullion bars while others require you only to purchase individual coins. You'll have to weigh the pros of each option before you make a decision.
For example, storing bullion bars requires less space because you aren't dealing with individual coins. However, you'll need to count every coin individually. However, you can easily track the value of individual coins by storing them in separate containers.
Some people prefer to keep their coins in a vault. Others prefer to store their coins in a vault. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
Do You Need to Open a Precious Metal IRA
Before opening an IRA, it is important to understand that precious metals aren't covered by insurance. There are no ways to recover the money you lost in an investment. This includes investments that have been damaged by fire, flooding, theft, and so on.
Protect yourself against this type of loss by investing in physical gold or silver coins. These coins have been around for thousands and represent a real asset that can never be lost. They are likely to fetch more today than the price you paid for them in their original form.
Consider a reputable business that offers low rates and good products when opening an IRA. Consider using a third-party custody company to keep your assets safe and allow you to access them at any time.
Do not open an account unless you're ready to retire. Remember the future.
What is the Performance of Gold as an Investment?
The supply and the demand for gold determine how much gold is worth. Interest rates can also affect the gold price.
Due to the limited supply of gold, prices for gold are highly volatile. There is also a risk in owning gold, as you must store it somewhere.
Can I have physical gold in my IRA
Not only is gold paper currency, but it's also money. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Today, investors use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.
Many Americans now invest in precious metals. Although owning gold does not guarantee that you will make money investing in it, there are many reasons to consider adding gold into your retirement portfolio.
One reason is that gold historically performs better than other assets during financial panics. The S&P 500 declined 21 percent during the same period. Gold prices increased nearly 100 per cent between August 2011 – early 2013. During these turbulent market times, gold was among few assets that outperformed the stocks.
One of the best things about investing in gold is its virtually zero counterparty risk. Your shares will still be yours even if your stock portfolio drops. However, if you have gold, your value will rise even if the company that you invested in defaults on its loans.
Gold provides liquidity. This means you can easily sell your gold any time, unlike other investments. Because gold is so liquid compared to other investments, buying it in small amounts makes sense. This allows you to take advantage of short-term fluctuations in the gold market.
What are the fees for an IRA that holds gold?
An Individual Retirement Account (IRA) fee is $6 per month. This fee covers account maintenance fees, as well any investment costs that may be associated with your investments.
If you want to diversify, you may be required to pay extra fees. These fees will vary depending upon the type of IRA chosen. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
Most providers also charge annual management costs. These fees vary from 0% to 11%. The average rate is.25% per year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
Statistics
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
investopedia.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 accounts
finance.yahoo.com
bbb.org
How To
The History of Gold as an Asset
From the very beginning of time, gold was a currency. It was universally accepted due to its purity and divisibility, beauty, scarcity, and durability. Because of its intrinsic value, it was also widely traded. There were different measures and weights for gold, as there was no standard to measure it. One pound sterling, for example, was equivalent in England to 24 carats, and one livre tournois, in France, to 25 carats. A mark, on the other hand, was equivalent in Germany to 28 carats.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. This led to a decrease of demand for foreign currencies which in turn caused their prices to rise. At this point, the United States minted large amounts of gold coins, causing the price of gold to drop. Because the U.S. government had too much money coming into circulation, they needed to find a way to pay off some debt. They decided to sell some excess gold to Europe in order to do this.
Since most European countries were not confident in the U.S. dollar they began accepting gold as payment. Many European countries began to use paper money and stopped accepting gold as payment after World War I. The gold price has gone up significantly in the years since. Today, although the price fluctuates, gold remains one of the safest investments you can make.
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By: Frank Corva
Title: Why Congress Must Safeguard Developers to Secure Crypto Industry Growth
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
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