• Crypto Accounting

It's a marathon...

...not a sprint. Sound familiar?

Today I bring news of the system adopting ever more aggressive tactics to suppress its citizens by using a combination of fear and subtlety.

First, HMRC. Having suffered personally I read with interest a story quoted recently by the excellent firm Cornerstone Tax; these guys are your absolute must go to if you have a stamp duty issue. In April they published a shocking tale of warped practices which only an authority without accountability can practice.

The FT [31/3/19] confirmed that HMRC had reported itself to the police watchdog regarding a tax payers suicide.

April 5th was the date for a new rule which can tax "select" UK taxpayers retrospectively from up to 20 years. Those poor unfortunates must pay the tax THIS year. It is estimated this will hit between 50,000 - 100,000 of our fellow citizens.

One day earlier The Times [30/3/19] reported a story concerning a "network of British Asians" based in the UK which had conducted VAT and benefit fraud against the exchequer for over 20 years, as well as committing mortgage and credit card fraud. The sum of £8 billion had been netted. This same network had links to the 7/7 terror attacks and had sent £80 million to Pakistan and Afghanistan in support of a well known terrorist group.

Despite knowing of the network as far back as 1995 The Times said HMRC "did little to disrupt and took almost no enforcement action."

So what does this tell us of HMRCs operational strategy? I'll leave you to reach your own conclusions.

The other story - where subtlety played its part royally - involves a company called CCN. You may not know of this online journalist but let me enlighten you.

Founded in 2013 the company has [or had] the highest amount of crypto-related traffic in the world; employing over 60 people from a 1 man start the company won the prestigious "Best Cryptomedia" award by Blockchain Life Asia 2019 Conference.

The company boasts proudly of its anti-elite, anti-centralisation stance, which is what brought it to my attention in 2017.

One quote, which changed my life was that attributed to the creator of Bitcoin:

"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve."

Ever seen that in the Mirror, or the Sun? Or any print media? I doubt it.

On June 3 Google rolled out a core update which has impacted dramatically on a large number of companies reliant on the public searching for relevant content. Google controls 88.4% of the global desktop search market [April 2019] according to

Google controls 93.08% of the mobile search market in the US.

CCN traffic has collapsed almost overnight; down 71% alone on mobile.

The company has been forced out of business. No warning from Google, no expression of concern from this behemoth of a company first. Just swift, effective and totally uncaring action.

Surprised? After Facebook's 180 degree turn nothing will ever surprise me again.

The plus side is that nobody should be in any doubt that the revolution is gathering pace. In all wars, the righteous will lose battles; that is inevitable. Intelligence is usually core to victory, it certainly was in WW2 thanks to the incredible brain of Alan Turing. Because we know of the tactics being employed by the system we are better prepared to offer counter arguments and continue to preach the amazing benefits to ALL of the new decentralised system.

Keep the faith and get on board!

#cryptocurrency #cryptoaccounting #blockchain #systemicchange #cornerstonetax

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